Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 40

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 40
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 of the date of the financial statements. Therefore all amounts need
to be restated by applying the change in the general price index from the date when the items of income and expense were initially recorded
in the financial statements.

The inflation adjustment on opening balances was calculated by using the indexes established by the Federación Argentina de Consejos Profesionales en Ciencias Económicas(Argentine Federation of Professional Councils in Economic Sciences or “FACPCE”), based on the price indexes published by the Instituto Nacional de Estadísticas y Censos(The Argentine National Statistics and Censuses Institute or “INDEC”).

The indexes at the beginning, end, average, and
annual inflation used for the years ended December 31, 2024 and 2023 were as follows:

|                              |     |     | As of December 
       31, 2024 |   |     |     | As of December 
       31, 2023 |   |
|:-----------------------------|:----|:----|---------------:|:--|:----|:----|---------------:|:--|
| At the beginning of the year |     |     |       3,533.19 |   |     |     |       1,134.59 |   |
| At the end of the year       |     |     |       7,694.01 |   |     |     |       3,533.19 |   |
| Average of the year          |     |     |       6,317.74 |   |     |     |       1,975.01 |   |
| Annual percentage inflation  |     |     |         117.76 | % |     |     |         211.41 | % |
| Accumulated 3 years          |     |     |       1,220.96 | % |     |     |         815.61 | % |

The Financial Statements as of December 31,
2023 have been restated in constant pesos as of December 31, 2024.

The main procedures for the above mentioned inflation
adjustment are as follows:

| - | Monetary assets and liabilities accounted for at the balance sheet closing currency are not restated,   
 as they are already expressed in terms of the current monetary unit as of the financial statement date. |

| - | Non-monetary assets and liabilities accounted for at cost at the balance sheet date, as well as equity 
 items, are restated by