How did TIM Brasil address the decline in traditional voice revenue?

TIM Brasil leaned heavily into the 'Data Growth' narrative. Slide 11 shows that while voice was declining, Data (Web & Content) gross revenues grew from R$1.2 billion in 1Q13 to R$1.8 billion in 1Q15. They positioned 4G as the primary fuel for this growth, capturing 32% of the 4G market share to ensure that as customers migrated away from voice, they remained within the TIM ecosystem for data-heavy consumption.

What was the company's strategy regarding cost management?

The strategy, detailed on Slide 26, focused on three pillars: Network & Interconnection Savings, Operational Efficiency, and Fixed Business Progress. They specifically targeted a reduction in Leased Lines Costs and Subscriber Acquisition Costs (SAC). Furthermore, they highlighted the 'MTR Path,' showing a regulatory-driven decrease in interconnection costs that would improve margins over time as the market shifted toward data.

How did TIM Brasil compare to its competitors in terms of pricing and offers?

Slide 36 provides a rare, granular look at the competitive landscape, listing specific offer changes for TIM, Vivo, Claro, and Oi from 1Q14 to 1Q15. TIM highlighted its move to increase SMS and internet offers from R$0.50 to R$0.60 per day and its 'Infinity Turbo 7' launch. This transparency suggests a highly commoditized market where TIM sought to lead on data-centric plan innovations.

What were the results of the 700MHz spectrum auction for TIM?

According to Slide 31, TIM successfully bid R$1,947 million for Block 2 (10+10 MHz) in the national 700MHz auction. This was a strategic win, as the price was only 0.99% above the minimum price. The slide also notes a 'Clean-up Cost Road Map' totaling R$1,199 million through 2018, which was necessary to clear the spectrum for mobile use.

What do the 1Q15 financial results indicate about the company's health?

Slide 41 shows a mixed financial picture. While Gross Revenues fell 3.2% YoY, EBITDA grew 1.7% to R$1,339,501 thousand, and EBITDA margins improved by 1.4 percentage points to 29.5%. This indicates that despite top-line pressure from a maturing voice market, the company's cost-cutting measures and transition to higher-margin data services were successfully protecting the bottom line.

TIM Brasil Pitch Deck (2015): 45-Slide Breakdown

See all 45 slides of the TIM Brasil pitch deck — a 2015 deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

The TIM Brasil investor presentation from May 2015 serves as a strategic roadmap for a telecommunications incumbent facing a maturing market. With 45 slides in total, the deck focuses on the 'Internet Market Evolution,' highlighting a projected shift where internet services would grow from 12% of revenue in 2010 to 60% by 2020. The company emphasizes its 32% market share in 4G and a 27% year-over-year increase in data users as of 1Q15. A significant portion of the deck is dedicated to 'Cost Efficiency,' projecting a decline in Mobile Termination Rates (MTR) and Subscriber Acquisition Costs (S…

Key takeaways

The company projects internet services will comprise 60% of the revenue mix by 2020, up from just 12% in 2010 (Slide 6).
TIM Brasil achieved a 32% market share in 4G and accounted for 50% of smartphone sales in the market as of 1Q15 (Slide 11).
Data ARPU (Average Revenue Per User) saw a 29% year-over-year increase between 1Q14 and 1Q15 (Slide 11).
The deck forecasts a significant reduction in Mobile Termination Rates (MTR), dropping from R$0.34 in 2012 to a projected R$0.02 by 2019 (Slide 6).
Operational efficiency is a core pillar, with projections showing a steady decline in Subscriber Acquisition Cost (SAC) through 2017 (Slide 26).
The company participated in the 700MHz auction, securing Block 2 for a winning bid of R$1,947 million, a 0.99% premium over the minimum price (Slide 31).
Gross revenues for 1Q15 were R$6,819,970 thousand, representing a 3.2% decrease compared to 1Q14 (Slide 41).
Value Added Services (VAS) grew 21.8% year-over-year, reaching R$1,825,718 thousand in 1Q15, offsetting declines in long distance and interconnection (Slide 41).

Executive Summary: A Legacy Giant in Transition

The TIM Brasil investor presentation from May 2015 is a comprehensive look at a telecommunications leader navigating the most significant shift in the industry's history: the death of voice and the birth of the data-centric economy. The deck is data-heavy, transparent, and strategically focused on how the company intends to maintain its margins through operational efficiency and 4G dominance.

Slide 1: Title and Branding

The cover slide establishes the context: a formal 'Company’s Presentation' for TIM Brasil dated May 2015. It includes the ticker symbol (TIMP3) and its listing on the Novo Mercado BM&FBOVESPA, signaling to investors that the company adheres to high standards of corporate governance. The imagery of a woman stepping through a door made of mobile apps into a bright, open landscape serves as a metaphor for the transition from a closed utility to an open digital platform.

Slide 6: Strategic Positioning and Market Evolution

This is arguably the most important slide for understanding the company's long-term thesis. Titled 'Internet Market Evolution,' it visualizes the 'Revenue Mix' shift. In 2010, Voice (Incoming and Outgoing) dominated the revenue stream, with Internet accounting for only 12%. By 2020, TIM projects Internet will grow to 60%, while Voice Outgoing shrinks to 37% and SMS collapses to 1%. Key Metric: The slide notes a 'Sharp Decrease' in SMS traffic from 9.5 billion in Jan-13 to 2.6 billion in Nov-14. To counter this, TIM highlights 'Internet Opportunities' in a market where most households lack fixed access, making mobile the primary gateway to the web.

Slide 11: The 4G Growth Engine

Slide 11, 'Data Growth Continues, Fueled by 4G,' provides the proof of concept for the strategy outlined on Slide 6. Value Added Services (VAS) Gross Revenues grew from R$1.2 billion in 1Q13 to R$1.8 billion in 1Q15. Key Figures: Data users grew 27% YoY, and Data ARPU (Average Revenue Per User) increased by 29%. Most notably, TIM claims a 32% market share in 4G and states that they represent 50% of the market share of smartphone sales, positioning them as the primary hardware provider for the data revolution.

Slide 18 & 22: Section Dividers

These slides serve as simple thematic breaks for 'Network and Quality Evolution' and 'Fixed Business.' While they contain no data, they indicate a structured presentation that addresses infrastructure and non-mobile business units, though the specific details for these sections are not included in this 9-slide sample.

Slide 26: Cost Efficiency and Projections

For an investor, this slide is the 'how.' It outlines the path to profitability through 2017. The 'Mobile Customer Base' is projected to grow from 73.4 million in 2013 to 75.7 million in 2014, with continued growth expected through 2017. Operational Efficiency: The slide forecasts a decline in Subscriber Acquisition Cost (SAC) and Leased Lines Costs. It also shows a dramatic 'MTR Path' (Mobile Termination Rate) dropping from R$0.34 in 2012 to R$0.02 in 2019. The 'EBITDA - Capex' chart at the bottom right shows a projected expansion of the margin, suggesting that the heavy investment phase is yielding to a period of higher cash flow retention.

Slide 31: The 700MHz Auction Details

This slide provides granular detail on a major capital expenditure: the 700MHz spectrum auction. TIM secured Block 2 (National) for a winning bid of R$1,947 million. The slide compares this to competitors Vivo and Claro, who paid similar amounts. Strategic Context: TIM highlights that the 'Spectrum acquisition at fair price' (1.07 USD/MHz/Pop adjusted for GDP) was below the international average of 1.22, suggesting disciplined capital allocation. It also outlines a 'Clean-up Cost Road Map' of R$1,199 million through 2018 to prepare the spectrum for use.

Slide 36: Competitive Offer Landscape

This slide is a dense matrix comparing the 'Recent Main Changes' in offers from TIM, Vivo, Claro, and Oi. It tracks changes quarterly from 1Q14 to 1Q15. For TIM, it notes the launch of 'Infinity Turbo 7' and the increase of SMS and internet offers to R$0.60/day. This slide demonstrates that TIM is hyper-aware of its competitors' pricing strategies, particularly the move toward blocking internet access once data limits are reached—a significant shift in consumer billing logic at the time.

Slide 41: Quarterly Historical Data

The final slide in the sample is a full financial P&L. Key Financial Data: Gross Revenues for 1Q15 were R$6,819,970 thousand, down 3.2% YoY. However, 'Value added services - VAS' grew 21.8% to R$1,825,718 thousand. Operating Expenses were reduced by 5.3%, leading to an EBITDA of R$1,339,501 thousand (a 1.7% increase). Net Income for 1Q15 stood at R$312,701 thousand, a 16% decrease from 1Q14, largely driven by a 116.9% increase in negative Net Financial Results (financial expenses).

What TIM Brasil Does Well

The deck is exceptionally strong in its transparency and granularity . Unlike many startup decks that hide behind vague 'market trends,' TIM Brasil provides exact figures for SMS traffic decline, specific auction bid premiums, and a line-by-line competitive comparison. By showing the 'MTR Path' and 'SAC' projections, they give investors a clear mathematical basis for their margin expansion claims. The use of the 2010-2020 revenue mix chart (Slide 6) is a masterclass in 'anchor and adjust' storytelling—it acknowledges the decline of the old business while providing a credible, data-backed vision for the new one.

What is Missing

Despite its length (45 slides), the 9-slide sample omits several critical areas. There is no team or leadership slide in this selection, which is vital for understanding who is executing this complex transition. There is also a lack of qualitative customer sentiment data ; while they show data usage increasing, they don't address churn rates or customer satisfaction in the face of price increases and data caps. Finally, the 'Fixed Business' section is represented only by a divider, leaving a gap in the narrative regarding how their landline and broadband assets complement the mobile strategy.

Founder Takeaways: Copy These Strategies

The 'Bridge' Narrative: If your company is pivoting or facing a declining legacy market, use a chart like Slide 6 to show exactly how the new revenue stream will overtake the old one over a 10-year horizon. · Competitive Benchmarking: Don't just say you are better than competitors. Create a matrix like Slide 36 that tracks specific feature launches and price changes over time. It proves you are paying attention. · Regulatory Awareness: TIM uses the 'MTR Path' to show how government regulations will actually help their bottom line. If your industry is regulated, show the 'regulatory tailwinds' in your favor. · Unit Economics Evolution: Slide 26 shows SAC (Subscriber Acquisition Cost) not just as a static number, but as a declining trend. Founders should show how their CAC will decrease as the brand matures or operations scale. · Financial Granularity: Providing a full P&L (Slide 41) rather than just a few 'vanity metrics' builds immense trust with sophisticated investors.

Frequently asked questions

How did TIM Brasil address the decline in traditional voice revenue?: TIM Brasil leaned heavily into the 'Data Growth' narrative. Slide 11 shows that while voice was declining, Data (Web & Content) gross revenues grew from R$1.2 billion in 1Q13 to R$1.8 billion in 1Q15. They positioned 4G as the primary fuel for this growth, capturing 32% of the 4G market share to ensure that as customers migrated away from voice, they remained within the TIM ecosystem for data-heavy consumption.
What was the company's strategy regarding cost management?: The strategy, detailed on Slide 26, focused on three pillars: Network & Interconnection Savings, Operational Efficiency, and Fixed Business Progress. They specifically targeted a reduction in Leased Lines Costs and Subscriber Acquisition Costs (SAC). Furthermore, they highlighted the 'MTR Path,' showing a regulatory-driven decrease in interconnection costs that would improve margins over time as the market shifted toward data.
How did TIM Brasil compare to its competitors in terms of pricing and offers?: Slide 36 provides a rare, granular look at the competitive landscape, listing specific offer changes for TIM, Vivo, Claro, and Oi from 1Q14 to 1Q15. TIM highlighted its move to increase SMS and internet offers from R$0.50 to R$0.60 per day and its 'Infinity Turbo 7' launch. This transparency suggests a highly commoditized market where TIM sought to lead on data-centric plan innovations.
What were the results of the 700MHz spectrum auction for TIM?: According to Slide 31, TIM successfully bid R$1,947 million for Block 2 (10+10 MHz) in the national 700MHz auction. This was a strategic win, as the price was only 0.99% above the minimum price. The slide also notes a 'Clean-up Cost Road Map' totaling R$1,199 million through 2018, which was necessary to clear the spectrum for mobile use.
What do the 1Q15 financial results indicate about the company's health?: Slide 41 shows a mixed financial picture. While Gross Revenues fell 3.2% YoY, EBITDA grew 1.7% to R$1,339,501 thousand, and EBITDA margins improved by 1.4 percentage points to 29.5%. This indicates that despite top-line pressure from a maturing voice market, the company's cost-cutting measures and transition to higher-margin data services were successfully protecting the bottom line.

Cover slide of the TIM Brasil pitch deck — Publicly Traded 2015 — TIM Brasil pitch deck, slide 1 (2015)

TIM Brasil pitch deck: the facts

Company: TIM Brasil
Year: 2015
Stage: Publicly Traded
Slides: 45
Sector: Telecommunications
Deck type: Investor Presentation
Outcome: Active (Public)
Headquarters: Rio de Janeiro, Brazil

TIM Brasil pitch deck PDF

The full TIM Brasil deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the TIM Brasil (TIM Participações S.A.) pitch deck was used for

This deck is a May 2015 investor presentation titled “Meeting with Investors - May 2015” by TIM Brasil, the Brazilian mobile telecommunications operator controlled by Telecom Italia and listed as TIM Participações S.A. It was used as a public markets investor relations deck rather than a private fundraising round, updating shareholders and analysts on first‑half 2015 performance, market positioning, network and quality evolution, and fixed business developments. At the time, TIM Participações was already a publicly traded company on the Brazilian stock exchange, with non‑controlling interests representing about one‑third of its share capital in 2015. The deck situates TIM’s strategy within a shift from legacy voice/SMS revenues toward data, 4G coverage expansion, and operational efficiency in a challenging Brazilian mobile market.

Business model: TIM Participações S.A. (commonly branded as TIM Brasil) is a publicly held telecommunications company that controls subsidiaries providing mobile and other telecommunications services across Brazil. Its main purpose is to control companies offering personal mobile telecom services and related communications in their licensed areas.

Year: 2015
Headquarters: Rio de Janeiro, Brazil.
Industry: Telecommunications (mobile and related services).

Round: Publicly traded company conducting an investor meeting rather than a discrete private fundraising round.

Founded: TIM Participações was incorporated in 1998, with its CVM (Brazilian securities regulator) incorporation date recorded as August 19, 1998.

What happened after the TIM Brasil (TIM Participações S.A.) deck

Following the May 2015 investor deck, TIM Brasil continued to execute on its strategy of expanding mobile broadband coverage and improving network quality, ultimately achieving full 4G coverage across Brazilian municipalities and extensive 5G deployment, while maintaining its position as a major publicly traded telecom operator within the Telecom Italia Group.

By later years, TIM reported that it had become the first and only operator with 4G coverage in 100% of Brazilian munici
TIM’s Brazilian operations remained a core asset within the Telecom Italia Group, with non‑controlling interests in TIM

What the TIM Brasil (TIM Participações S.A.) deck got right

Clear articulation of market position and financial performance. The deck clearly situates TIM within Brazil’s mobile market by covering market share, customer base, revenues, and EBITDA, giving investors a structured view of performance and positioning in a single presentation. This comprehensive framing is valuable for public‑markets audiences comparing multiple operators.
Strong linkage between network investments and service quality narrative. A dedicated focus on network and quality evolution—covering infrastructure such as antennas and fiber, and 4G performance—shows that TIM uses the deck to tie capital investments directly to service quality, a key differentiator in telecom. This helps investors understand how capex supports competitive advantage.
Holistic view of mobile and fixed business opportunities. The deck integrates discussion of fixed business and business outlook alongside mobile metrics, indicating a convergent view of TIM’s opportunities and giving investors visibility into additional growth vectors beyond core mobile services.
Transparent acknowledgment of regulatory environment. By explicitly addressing regulatory updates and challenges in the mobile market, the presentation acknowledges the constraints and rules shaping returns, which is critical in a heavily regulated sector like Brazilian telecom. This transparency can build investor confidence in management’s regulatory awareness.
Coherent strategy for shifting from legacy voice/SMS to data. The strategic emphasis on data, efficiency, and profitability provides a coherent narrative for managing the transition away from legacy voice/SMS toward data and broadband services. This helps investors see how TIM intends to sustain margins and growth as customer usage patterns change.
Well‑integrated with broader investor reporting ecosystem. The deck fits into a broader ecosystem of quarterly and annual reports and webcasts, allowing management to keep the slides focused on key messages while directing investors to more detailed figures in formal filings. This separation improves clarity and avoids overloading the presentation.

What could have been stronger

Limited capex and capital allocation granularity in the standalone deck. The May 2015 investor deck emphasizes market position, network evolution, and strategic focus but, based on the public description, provides limited granular disclosure on specific capital allocation plans (for example, precise capex breakdown by technology or region) beyond high‑level references to network investments and efficiency. For a public‑markets audience, this can make it harder to tie strategic claims directly to line‑item spending priorities without consulting separate financial reports.
Risk and downside scenarios are not prominently detailed in the slides. The deck’s emphasis on data growth, 4G expansion, and efficiency is clear, but the public summary does not indicate detailed scenario analysis or explicit downside cases (such as macroeconomic stress, regulatory changes, or competitive pricing shocks) within the slides themselves. Public investors typically look for visible discussion of adverse scenarios; without it in the deck alone, they must rely on other filings and management commentary to understand risk resilience.
Regulatory risk appears discussed qualitatively rather than quantitatively. While the deck covers regulatory updates and market challenges at a high level, the available description does not show quantified regulatory impact (for example, explicit revenue or margin sensitivity to specific regulatory changes). For an investor‑day‑style deck, this limits how precisely one can model regulatory risk using the slides alone.
Customer behavior metrics are not clearly foregrounded. The presentation highlights network and quality evolution as a strategic pillar, but the summary description does not reference explicit customer‑level metrics such as churn, ARPU by segment, or net promoter scores. This reduces the ability to link operational initiatives directly to customer behavior outcomes using only the deck.

How an investor would read this deck

What draws attention

Public‑market investors would focus on TIM’s strategic pivot from legacy voice and SMS toward data and 4G, as outlined in the deck’s emphasis on market positioning, data focus, and network evolution.
The deck’s coverage of recent results, including revenues and EBITDA, would be central to assessing profitability and efficiency claims during a period of macroeconomic and competitive pressure in Brazil.
TIM’s position as a key Brazilian asset within the Telecom Italia Group and the presence of substantial non‑controlling interests (33.4% at end‑2015) would matter for governance, dividend policy, and potential corporate actions.
Investors would scrutinize the fixed business and any convergence strategy with mobile, as the deck explicitly mentions fixed business evolution and business outlook.
Regulatory updates included in the slides would attract attention due to Brazil’s active telecom regulation and its implications for spectrum, competition, and returns.

Risks that stand out

Brazilian macroeconomic and currency volatility in the mid‑2010s posed risks to revenue, profitability, and capital spending plans, and investors would need to assess how resilient the strategies in the May 2015 deck were to such conditions, using the deck alongside subsequent reported results.
Regulatory risk is an inherent concern in Brazilian telecommunications, and while the deck includes regulatory updates, investors must consider the possibility of spectrum, tariff, or competition decisions that could undermine returns on the investments described.
Competitive dynamics in the Brazilian mobile market, including pricing pressure and consolidation, could challenge TIM’s ability to sustain the market share and revenue mix implied by its strategic focus on data and 4G.
Execution risk around large‑scale network and quality upgrades is significant; delays, cost overruns, or underperformance relative to competitors could erode the efficiency and profitability gains highlighted in the presentation.

Questions this deck invites

How did the data‑centric and 4G‑focused strategy presented in May 2015 translate into subsequent financial performance, particularly revenues, EBITDA, and earnings per share in 2015–2016?
What specific capital expenditure plans and timelines underpinned the network and quality evolution described in the deck, and how were these reflected in later financial reports and regulatory filings?
How did TIM’s market share in the Brazilian mobile market evolve after 2015, and to what extent can changes be linked back to the strategic initiatives highlighted in the May 2015 presentation?
What regulatory decisions or changes occurred after the May 2015 deck that materially affected TIM’s operations, and were any of these anticipated in the regulatory updates section of the deck?
How did Telecom Italia and TIM Brasil’s corporate structure and ownership levels influence capital allocation, dividend policy, or strategic options during and after 2015, given that non‑controlling interests represented about one‑third of

What founders can take from the TIM Brasil (TIM Participações S.A.) deck

A public‑markets investor deck for a large incumbent can effectively frame a strategic pivot by clearly tying market positioning, network investments, and operational efficiency to the ongoing shift from legacy voice/SMS revenues toward data and 4G, as TIM did in its May 2015 investor presentation.
Highlighting network and quality evolution with reference to infrastructure (such as antennas and fiber) and service performance can reinforce a differentiation narrative in a commoditized telecom market.
Including sections on fixed business and regulatory updates alongside mobile performance helps investors see a more complete picture of a telecom operator’s growth options and constraints, which is particularly important in regulated markets like Brazil.
Using an investor deck in conjunction with detailed financial reports and regulatory filings allows a public company to keep the slides focused on strategy and key metrics while relying on formal documents for exhaustive financial and legal detail.
Maintaining continuity between strategic themes in presentations (such as data focus and broad coverage) and later achievements—like achieving 4G coverage in all municipalities and extensive 5G rollout—can build credibility over time when investors can trace outcomes back to earlier decks.
Positioning a listed subsidiary like TIM Participações within the broader Telecom Italia Group, and clearly communicating the ownership structure and non‑controlling interests, helps public investors understand governance and potential future corporate actions.

TIM Brasil (TIM Participações S.A.) pitch deck: common questions

What was the purpose of TIM Brasil’s May 2015 investor deck?

TIM Brasil (through TIM Participações S.A.) used the May 2015 “Meeting with Investors” deck as an investor relations presentation to update existing and prospective public‑market investors on its financial results, market position, and strategic priorities in Brazil’s mobile market. It was not a private startup fundraising deck but part of its ongoing communications as a listed company.

Where is TIM Brasil (TIM Participações) based and what does it do?

TIM Participações S.A. is based in Rio de Janeiro and operates as a holding company controlling subsidiaries that provide mobile and other telecommunications services across Brazil. It is controlled by TIM Brasil Serviços e Participações S.A., which in turn is part of the Telecom Italia Group.

What was TIM Brasil’s ownership and status around 2015?

In 2015, TIM Participações operated in Brazil’s mobile telecommunications sector, focusing on personal mobile services and related communications, and was controlled by TIM Brasil Serviços e Participações S.A., a subsidiary of Telecom Italia. Non‑controlling interests accounted for about 33.4% of its share capital at year‑end 2015, reflecting its free float as a public company.

What strategic themes does the May 2015 deck emphasize?

The May 2015 deck highlights TIM’s focus on expanding 4G coverage and data services, improving network quality, and driving efficiency and profitability to navigate declining legacy voice and SMS revenues. This aligns with TIM’s broader strategy to differentiate on network coverage and quality, later becoming the first operator with 4G coverage in 100% of Brazilian municipalities and 5G coverage in all state capitals.

How does this deck fit into TIM Brasil’s broader investor communications?

The deck forms part of TIM’s regular investor communications and is complemented by quarterly and annual financial reports filed with regulators and made available via TIM and Telecom Italia’s investor relations sites. For deeper financial analysis, investors typically cross‑reference the deck with the company’s 2015 annual report and SEC or CVM filings.

Sources

Funding and outcome facts on this page were researched on 2026-08-22 from the pages below.

TIM Brasil pitch deck slides

TIM Brasil pitch deck slide 1 of 45 — TIM Brasil pitch deck — slide 1 of 45

TIM Brasil pitch deck slide 2 of 45 — TIM Brasil pitch deck — slide 2 of 45

TIM Brasil pitch deck slide 3 of 45 — TIM Brasil pitch deck — slide 3 of 45

TIM Brasil pitch deck slide 4 of 45 — TIM Brasil pitch deck — slide 4 of 45

TIM Brasil pitch deck slide 5 of 45 — TIM Brasil pitch deck — slide 5 of 45

TIM Brasil pitch deck slide 6 of 45 — TIM Brasil pitch deck — slide 6 of 45

What each slide of the TIM Brasil pitch deck says

Slide 3

ee Ye Bi GROWTH STRUCTUE CORPORATE GOVERNANCE Customer Base EoP Gross Revenues EBITDA Requirement of Highest level of (mln customers) (R$ bin) (RS bin) protection for Corporate Demand for minority Governance CAGR CAGR transparency and shareholders. 2 49% 47% i Legal disclosures 76 , 0 73 28 = 29 vy 50 sr 7 Requirements. = eg A 5 o Ll] 2. a ES BN BN Su st 20 * Brazilan “Nivel” 1 “Nivel” 2 7 = . . MERCADO [ Law 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Unique Telco company listed on the Novo Mercado V' 100% Tag Along Vv Statutory Audit Committee: 2m player 75.7 million customers (27% Share) ¥ Equal dividends rights * Report to Board of Directors Market & More…

Slide 5

- . ; intelige3 Live vivo Tenia Mobile Fixed! Fixed BB! Pay TV Group Mobile Fixed! Fixed BB! Pay-TV Group Customers 1Q15 {000's) 75,749 657 153 na. 76,559 Customers 1Q15 (000's) 81,879 10,939 4,102 790 97,710 Market share 1Q15 26.7% 14% 0.5% na. = Market share 1Q15 28.9% 23.9% 17.1% 4.0% a Net Adds 12M (000°s) 1,832 25 64 na. 1,921 Net Adds 12M (000s) 3,314 502 -205 145 3,756 Net Revs 1Q15 (R$ Min) 4,388 158 4,547 Net Revs 4014 (RS Min) 23,740 11,260 35,000 ARPU 1Q15 16.7 na. na. na. — ARPU 4Q14 24.6 na. na. na. oa Tr 21, Mobile Fixed! Fixed BB! Pay-TV Group Mobile Fixed: Fixed BB Pay-TV Group Customers 1Q15 (000°s) 71,942 11,519 7,523 10,266 101,250 Customers 1Q15 (000's) 50,388 16,692 6,5…

Slide 6

Internet Market Evolution Mobile Market Revenues Evolution (Mobile Service Net Revenues; %) Revenue Mix Internet + Most households without internet access Opportunities * Mobile better suited to break price barrier Internet — 95 —__ SMS Traffic Sharp Te, : SMS _—7 Decrease i (%) (billions of SMS sent) Jan-13 Nov-14 ©) Voice Outgoing TT Voice + Maturing market: Customer base growth Voice Incoming Decline slowdown + Consumption migrating from voice to data 2010 2020 Ta MTR Cut 0st (RS) 2 0 0.16 0.10 o. 206 003 002 2012 2013 2014 2015 2016 2017 2018 2019 Mobile Internet is the growth driver and will be the largest mobile market, although Voice remains important 6

Slide text above is read directly from the TIM Brasil deck PDF embedded on this page.

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