TIM S.A. (TIMS3) announced on Wednesday, August 19, 2026, that its Board of Directors has approved a new share buyback program for its own shares (Program 9), with a maximum amount of R$ 1 billion. The program will allow the acquisition of up to 55,187,638 common shares, equivalent to about 2.31% of the company’s total common shares, and will remain in effect until February 19, 2028.
According to the company, the decision reflects Management’s assessment that the current market price of the shares does not adequately reflect TIM’s intrinsic value, nor the strength and resilience of its business model, its sustainable cash generation capacity, and its growth prospects. The company notes that the buyback represents a form of capital allocation considered efficient and aligned with its focus on long-term value creation.
TIM also stressed that Program 9 reinforces its commitment to disciplined capital allocation, supported by its financial position, while preserving its ability to invest in its own business and pursue new value-creation opportunities for shareholders. Further information and terms of the program, including those required by Annex G of CVM Resolution No. 80/22, are available in the minutes of the Board of Directors meeting published on the CVM, B3 and Investor Relations websites.
The company also reported the termination, on August 12, 2026, of the share buyback program approved on February 12, 2025 (Program 8). During its term, 46,884,500 common shares were acquired, with a disbursement of approximately R$ 1 billion, of which 28,678,509 were canceled on December 16, 2025. The remaining balance is held in treasury and may have a future use to be defined by the company, in accordance with the rules of Program 8 and applicable regulations.
