External auditors

06/17/2019 - 05:30 PM

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The Shareholders’ Meeting held on March 29, 2019 has appointed EY S.p.A, on the basis of a reasoned proposal by the Board of Statutory Auditors for 2019 Shareholders' Meeting, for the auditing of the separate financial statements, the consolidated financial statements, limited auditing of the half-yearly condensed consolidated financial statements, the auditing of consolidated financial statements included in Form 20-F,  the attestation on the internal controls in accordance with Section 404 of the Sarbanes-Oxley Act and limited assurance of the consolidated non-financial statement for every financial year for the period 2019-2027.

The compensation for the mandate, for each year, is determined in such a manner as to guarantee the technical qualitative and economic aspect, as well as particular attention to the requirement of the auditor’s independence; to follow the detail:

TIM Group Mandate for every year for the period 2019-2027 Number of hours for each year Annual fees (Euros)
Statutory audit of the individual financial statements of TIM S.p.A. 13,170 933,000
Statutory audit of the consolidated financial statements of the TIM Group 2,360 167,000
The limited audit review of the half-year condensed consolidated financial statements at June 30 2,755 195,000
Auditing of the consolidated financial statements of the TIM Group included in Form 20-F prepared in accordance with SEC rules 4,777 447,158
Review of internal controls that oversee the consolidated financial statements process of the TIM Group pursuant to Section 404 of the Sarbanes-Oxley Act 10,073
635,842
Limited assurance of the consolidated non-financial statement 1,013 72,000
TOTAL 34,148 2,450,000