Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 7

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 7
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 for the “Tuenti” trademarks during the term of the License Trademark Agreement. For any of the other Trademarks,
if TMA elects to extend the license beyond the initial 12-month term, TMA will be required to pay Telefónica Parent a royalty equal
to 1.6% of all gross revenues generated in connection with the provision of goods or services under the Trademarks that are the subject
of such extension, payable on a monthly basis.

Under the Trademark License
Agreement, Telefónica Parent may suspend TMA’s right to use certain Trademarks if, in its reasonable opinion, the advertisement,
marketing, promotion, selling, distribution or provision of any products or services bearing such Trademarks is not in compliance with
the Trademark License Agreement and such non-compliance has not been cured within 30 days from receipt of notice thereof. If such non-compliance
is not cured within 120 days after the commencement date of the suspension, Telefónica Parent may terminate TMA’s right to
the applicable Trademarks.

Legal and Administrative Proceedings

From time to time, TMA
is a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of its business. See Notes 14,
16 and 18 to the TMA Financial Statements included in this TMA 6-K for more information on the company’s legal
proceedings.

| 2. | Management’s discussion and analysis of financial condition and results of operations of Telefónica 
 Móviles Argentina, S.A.                                                                             |

The following discussion and
analysis is based on, and should be read in conjunction with, the TMA Financial Statements and related notes, included elsewhere in this
TMA 6-K.

Management Overview

TMA operates under an integrated,
global, and responsible vision, recognizing its role in global connectivity and technological advancements. During 2024, TMA started its
5G network rollout, improving connection speed, service quality and infrastructure robustness, while 3G and 4G networks remained essential
for mobile coverage. As for fixed internet services, fiber optic usage continued to increase, enhancing TMA’s customers digital
experience.

In line with its commitment
to sustainability and long-term value creation, TMA has reinforced its focus on sustainable and inclusive economic models. TMA’s
guiding purpose is to connect people, regardless of their location, while enhancing its competitiveness and market positioning.

On January 1, 2024, the