Conclusion of an insurance agreement concerning trade debts

Date

2016-06-08

Current report no.

23/2016

The Management Board of TIM S.A. would like to inform that on 08 June 2016 TIM SA concluded an insurance agreement concerning trade debts (Modular Policy) with Atradius Credit Insurance N.V. S.A the branch in Poland with its seat in Warszawa.
The policy shall be valid from 01.05.2016 to 30.04.2018 and will be a continuation of the existing cooperation. The subject matter of that agreement is to secure trade debts of the Company.
Terms and conditions of the agreement are not different from the terms and conditions commonly used in such agreements.
The criterion of treating the agreement as a substantive agreement is the maximum amount of reimbursement for the group of policies, during the term of the agreement, that exceed 10 % of TIM SA equity.

2016-06-08, Krzysztof Folta – President of the Board
2016-06-08, Anna Slobodzian-Pula – Member of the Board