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New reality | Creation or spin-off of the fiber business of operators in Brazil in partnership with PE investors οι ETIM KPMG Oi closed a binding agreement to sell its fiber optic operation, InfraCo, to a fund managed by BTG Pactual, in a deal that is expected to close in the fourth quarter of 2020 or in the first quarter of 2021. Binding proposal of funds from BTG Pactual to sell InfraCo's control confirmed. In a relevant fact, the telephone operator said that the proposal has the "right to top" the right to cover an offer in the judicial auction, which does not yet have a date to take place. The proposal includes BTG Pactual Economia Real Fundo de Investimentos and the submarine cable company Globenet, which belonged to Oi and was purchased by BTG in 2013 btg pactual. "Company will receive proposals from September to form a partnership with interested in building optical access network following TIM Live's expansion strategy. According to the CEO, there is no interest in buying Infraco from Oi." TIM revealed investment in fiber optic network, named TIM Live Project. According to the company, the idea is to spin-off Live TIM in 2020. The business would already start with revenue, as it would have the fiber network built so far, in 30 cities, and which is used by the operator to connect more than 600 thousand customers with broadband. In addition to owning this network, the project will have a contract with TIM for the use of the infrastructure and will be responsible for taking FTTH to new cities. According to Adrian Calaza, TIM's CFO, 30 confidentiality agreements have already been signed with those interested in the partnership. Among which, he said, there are investment funds and infrastructure companies that are already operating. © 2021 KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. BD210890 Página | 46

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