

<ROOT>
    <TITULO>Securities auction</TITULO>
    <RESULTS>
        
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>10/03/2026</Date_of_Issue>
                    <Term>90</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>1 500,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>500,0</Placement_br_Millions_of_CVE>
                    <Maturity>08/06/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>05/03/2026</Date_of_Issue>
                    <Term>180</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>800,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>400,0</Placement_br_Millions_of_CVE>
                    <Maturity>01/09/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TRM</Instrument>
                    <Date_of_Issue>02/03/2026</Date_of_Issue>
                    <Term>14</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>200,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>100,0</Placement_br_Millions_of_CVE>
                    <Maturity>16/03/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>24/02/2026</Date_of_Issue>
                    <Term>181</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>600,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>300,0</Placement_br_Millions_of_CVE>
                    <Maturity>24/08/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>16/02/2026</Date_of_Issue>
                    <Term>365</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>1 200,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>399,0</Placement_br_Millions_of_CVE>
                    <Maturity>16/02/2027</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>11/02/2026</Date_of_Issue>
                    <Term>180</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>800,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>400,0</Placement_br_Millions_of_CVE>
                    <Maturity>10/08/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>06/02/2026</Date_of_Issue>
                    <Term>182</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>1 200,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>399,0</Placement_br_Millions_of_CVE>
                    <Maturity>07/08/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TRM</Instrument>
                    <Date_of_Issue>02/02/2026</Date_of_Issue>
                    <Term>14</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>200,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>100,0</Placement_br_Millions_of_CVE>
                    <Maturity>16/02/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>27/01/2026</Date_of_Issue>
                    <Term>181</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>1 500,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>500,0</Placement_br_Millions_of_CVE>
                    <Maturity>27/07/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>16/01/2026</Date_of_Issue>
                    <Term>180</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>1 500,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>500,0</Placement_br_Millions_of_CVE>
                    <Maturity>15/07/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>09/01/2026</Date_of_Issue>
                    <Term>270</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>1 800,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>600,0</Placement_br_Millions_of_CVE>
                    <Maturity>06/10/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TRM</Instrument>
                    <Date_of_Issue>05/01/2026</Date_of_Issue>
                    <Term>14</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>400,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>100,0</Placement_br_Millions_of_CVE>
                    <Maturity>19/01/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>02/01/2026</Date_of_Issue>
                    <Term>180</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>1 800,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>600,0</Placement_br_Millions_of_CVE>
                    <Maturity>01/07/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>30/12/2025</Date_of_Issue>
                    <Term>181</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>2 700,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>900,0</Placement_br_Millions_of_CVE>
                    <Maturity>29/06/2026</Maturity>
                </RESULT>
            
                <RESULT>
                    <Instrument>TIM</Instrument>
                    <Date_of_Issue>16/12/2025</Date_of_Issue>
                    <Term>181</Term>
                    <Rate_>2,5000</Rate_>
                    <Search_br_Millions_of_CVE>2 100,0</Search_br_Millions_of_CVE>
                    <Placement_br_Millions_of_CVE>700,0</Placement_br_Millions_of_CVE>
                    <Maturity>15/06/2026</Maturity>
                </RESULT>
            
    </RESULTS>
</ROOT>
