The establishment of Audit Committee



Current report no.



Acting pursuant to Article 128 and 129 of the Act of 11.05.2017 on statutory auditors, audit firms and public supervision _Journal of Laws Dz.U. of 2017, item 1089_ and § 19  (8) of the TIM S.A. Articles of Association, the Supervisory Board of the Company on 04-07-2018 established an Audit Committee with the following members:

1. Krzysztof Kaczmarczyk – Chairman of the Audit Committee,
2. Andrzej Kusz – Member of the Audit Committee,
3. Leszek Mierzwa – Member of the Audit Committee.

The term of office of the Audit Committee expires on the date of the Annual General Meeting of TIM S.A. approving the financial statements for the year 2018.

TIM SA informs that the Audit Committee appointed on 4 July 2018 meets the criteria of independence and other requirements specified in Article 129 (1) and (5) of the Act of 11 May 2017 on statutory auditors, audit firms and public supervision, i.e .:

a_ at least one member of the Audit Committee has the skills and knowledge in the area of accounting or auditing,
b_ at least one member of the Audit Committee has the knowledge and skills in the area of the industry in which the Company operates or individual members have skills and knowledge of the industry.
c_ a majority of the Audit Committee members, including its chairman, are independent of the Company.

Moreover, the Company informs that in accordance with the detailed principle II.Z.8 of the “Good practices for WSE listed companies 2016”, the Chairman of the Audit Committee meets the independence criteria set out in Appendix II to the European Commission’s Recommendation 2005/162/EC of 15 February 2005 concerning the role of non-executive or supervisory directors of listed companies and supervisory board committees_.
At the same time, the Board of TIM SA informs that CVs of the Audit Committee Members are available from the website at nadzorcza/.

2018-07-05, Anna Słobodzian-Puła – Member of the Management Board
2018-07-05, Piotr Tokarczuk – Member of the Management Board