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TIM S.A.

For the period ended Dec 31, 2024. Filed Apr 1, 2025.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Apr 1, 2025

TIMB$18.13-0.5%Stored close · as of Nov 6, 2026
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Cover page

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 20-F

(Mark One)

☐REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number:001-39570

**TIM S.A.

**(Exact name of Registrant as specified in its charter)

**TIM, Inc.

**(Translation of Registrant’s name into English)

federative republic of brazil

João Cabral de Melo Neto Avenue, 850 – South Tower – 12th floor

**22775-057, Rio de Janeiro, RJ, Brazil **

(Jurisdiction of incorporation or organization)

(Address of principal executive offices)

Alberto Mario Griselli

Chief Executive Officer and Investor Relations Officer

TIM S.A.

João Cabral de Melo Neto Avenue, 850 – South Tower – 12th floor

22775-057**, Rio de Janeiro****, RJ, Brazil**

**Tel:55 **214109-4167

ri@timbrasil.com.br

(Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Shares, without par value*New York Stock Exchange
American Depositary Shares, as evidenced by American Depositary Receipts, each representing five Common SharesTIMBNew York Stock Exchange
*Not for trading, but only in connection with the listing of American Depositary Shares on the New York Stock Exchange

Securities registered or to be registered pursuant to Section 12(g) of the Act:

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

Title of ClassNumber of Shares Outstanding
Common Shares, without par value2,420,804,398

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes☐ No ☒

Note – Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer ☒ Accelerated Filer☐ Non-accelerated Filer☐ Emerging growth company☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

☐ U.S. GAAP

☒ International Financial Reporting Standards as issued by the International Accounting Standards Board

☐ Other

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.

☐ Item 17☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes☐ No☐

table of contents

Page

Presentation of Financial and Other Informationii
Forward-Looking Informationiii
Part I1
Item 1. Identity of Directors, Senior Management and Advisers1
Item 2. Offer Statistics and Expected Timetable1
Item 3. Key Information1
Item 4. Information on the Company31
Item 4A. Unresolved Staff Comments97
Item 5. Operating and Financial Review and Prospects98
Item 6. Directors, Senior Management and Employees121
Item 7. Major Shareholders and Related Party Transactions131
Item 8. Financial Information132
Item 9. The Offer and Listing139
Item 10. Additional Information144
Item 11. Quantitative and Qualitative Disclosures About Market Risk159
Item 12. Description of Securities Other than Equity Securities160
Part II163
Item 13. Defaults, Dividend Arrearages and Delinquencies163
Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds163
Item 15. Controls and Procedures163
Item 16. [Reserved]164
Item 16A. Audit Committee Financial Expert164
Item 16B. Code of Ethics164
Item 16C. Principal Accountant Fees and Services165
Item 16D. Exemptions from the Listing Standards for Audit Committees166
Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers166
Item 16F. Change in Registrant’s Certifying Accountant167
Item 16G. Corporate Governance167
Item 16H. Mine Safety Disclosure168
Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections168
Item 16J. Insider Trading Policies168
Item 16K. Cybersecurity168
Part III171
Item 17. Financial Statements171
Item 18. Financial Statements171
Item 19. Exhibit Index171
Technical Glossary172

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.