The establishment of Audit Committee



Current report no.



Acting under Article 128 and 129 of the Act of 11.05.2017 on Statutory Auditors, Audit Firms and Public Oversight _Dz. U. of 2017, item  1089_and § 19(8) of the TIM S.A. Statute, the Supervisory Board of the Company on 20.09.2017 established an Audit Committee with the following members:

1.Krzysztof Kaczmarczyk – Chairman of the Audit Committee,
2. Andrzej Kasperek – Member of the Audit Committee,
3. Andrzej Kusz – 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 2017.

TIM S.A. announces that the Audit Committee established on 20.09.2017 meets the independence criteria and other requirements set out in Article 129 (1) and (5) of the Act on Statutory Auditors, Audit Firms and Public Oversight of 11 May 2017, 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_ the majority of the members of the Audit Committee, including its chairman, are independent from the Company.

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 Management Board of TIM SA informs that so far the function of the Audit Committee in TIM SA was exercised by the Supervisory Board of the Company.

2017-09-20, Krzysztof Folta – the President of the Management Board
2017-09-20, Anna Słobodzian-Puła – Member of the Management Board