Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 3

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 3
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,063 |
| TOTAL LIABILITIES AND EQUITY                                   |      | 14,035,721 |   11,879,362 |

The accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.

<div align='center'>F-3

TELECOM ARGENTINA S.A.</div>

CONSOLIDATED INCOME STATEMENTS

(In millions of Argentine pesos in current currency, except per share
data in Argentine pesos in current currency - Note 1.d)

|                                                                                           | Note | Three-month period 
    ended March 31, 
               2025 |      2024 |
|:------------------------------------------------------------------------------------------|-----:|-------------------:|----------:|
| Revenues                                                                                  |   12 |          1,363,353 | 1,066,430 |
| Employee benefit expenses and severance payments                                          |      |           -286,847 |  -246,095 |
| Interconnection and transmission costs                                                    |      |            -44,275 |   -39,120 |
| Fees for services, maintenance, materials and supplies                                    |      |           -172,012 |  -155,988 |
| Taxes and fees with the Regulatory Authority                                              |      |           -113,911 |   -82,175 |
| Commissions and advertising                                                               |      |            -71,288 |   -55,366 |
| Cost of equipment and handsets                                                            |   13 |            -57,005 |   -37,200 |
| Programming and content costs                                                             |      |            -71,825 |   -58,405 |
| Bad debt expenses                                                                         |    9 |            -25,650 |   -26,539 |
| Other operating expenses, net                                                             |      |            -68,592 |   -42,558 |
| Depreciation, amortization and impairment of Fixed and intangible assets                  |      |           -340,049 |  -363,755 |
| Operating income (loss)                                                                   |      |            111,899 |   -40,771 |
| Earnings (losses) from associates and joint ventures                                      |    2 |                 92 |    -2,119 |
| Financial results from borrowings                                                         |   14 |             85,634 | 1,244,078 |
| Other financial results, net                                                              |   14 |             15,322 |   180,130 |
| Income before income