Company: TCMFF
Filing Date: 2025-05-12
Form Type: 6-K
Source: 0001104659-25-047387
Chunk: 10

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-12
Form: 6-K
Chunk 10
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,592 million (+P$26,034 million or 
 +61.2% vs. 1Q24).                                                                                                                      |

| · | Depreciation, Amortization, and Impairment of Fixed Assets: Totaled P$340,049                                                          
 million (-P$23,706 million or -6.5% vs. 1Q24). The charge for the period includes the impact of amortizations for additions made after 
 December 31, 2024, partially offset by the effect of those assets that ended their useful life after the same date.                    |

Financial Results, Net Net Financial Results (including Financial Expenses on Debt and Other Financial Results) showed an income of P$100,956 million in 1Q25 (vs. a gain of P$1,424,208 million in 1Q24). This variation was mainly due to: *Related to Notes issued in UVA The lower gain in net financial results is primarily due to a lower negative real depreciation compared to 1Q24 (-4.1% vs. -30.0%). Income Tax Telecom’s income tax includes the following effects:

| TELECOM ARGENTINA | 7 |

| i) | the current income tax, determined based on the current tax legislation applicable 
 to Telecom,                                                                        |

| ii) | the effect of applying the deferred tax method with respect to the temporary differences                                               
 determined by comparing our asset and liability valuation according to tax and financial accounting criteria which includes the effect 
 of the income tax inflation adjustment.                                                                                                |

The consolidated income tax loss amounted to P$119,745 million in 1Q25 (vs. a loss of P$328,741 million in 1Q24). The loss related to current income taxes amounted to P$238,918 million in 1Q25 (vs. a loss of P$2,710 million in 1Q24) and the income tax effect related to the application of the deferred tax method of P$119,173 million in 1Q25 (vs. a loss of P$326,031 million in 1Q24). Net Financial Debt As of March 31, 2025, our consolidated net financial debt (cash and cash equivalents – net of Client Funds - plus financial investments and financial NDF* minus loans) is liability and amounted to P$3,587,066 million, which represents an increase of P$835,014 when compared to the net financial debt as of December 31, 202