Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 49

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 49
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DA   |

An important operational performance measure used
by the Company’s Chief Operating Decision Maker (as this term is defined in IFRS Accounting Standard 8) is Adjusted EBITDA. Adjusted
EBITDA is defined as our net (loss) income less income tax, financial results, earnings (losses) from associates and joint ventures and
depreciation, amortization and impairment of Fixed and intangible assets. We believe Adjusted EBITDA facilitates company-to-company operating
performance comparisons by backing out potential differences caused by variations such as capital structures, taxation and the useful
lives and book depreciation and amortization of property, plant and equipment (PP&E) and intangible assets, which may vary for different
companies for reasons unrelated to operating performance. Although Adjusted EBITDA is not a measure defined in accordance with IFRS Accounting
Standards (a non-GAAP measure), our Management believes that this measure facilitates operating performance comparisons from period to
period and provides useful information to investors, financial analysts and the public in their evaluation of our operating performance.
Adjusted EBITDA does not have a standardized meaning. Accordingly, our definition of Adjusted EBITDA may not be comparable to Adjusted
EBITDA as used by other companies.

The following table shows the reconciliation of
Net income to Adjusted EBITDA:

|                                                                   |     |      1H25 |     |       1H24 |     |  Variation |     |       |
|                                                                   |     | $ million |     |            |     |  $ million |     |     % |
| Net income (loss) for the period                                  |     |   -75,554 |     |  1,197,930 |     | -1,273,484 |     |   n/a |
| Income tax expense                                                |     |    34,473 |     |    504,015 |     |   -469,542 |     | -93.2 |
| Other financial results, net                                      |     |    -5,765 |     |   -228,403 |     |    222,638 |     | -97.5 |
| Financial results from borrowings                                 |     |   221,129 |     | -1,564,261 |     |  1,785,390 |     |   n/a |
| Losses from associates and joint ventures                         |     |     1,744 |     |      4