Company: TCMFF
Filing Date: 2025-11-10
Form Type: 6-K
Source: 0001104659-25-108893
Chunk: 9

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-10
Form: 6-K
Chunk 9
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 Taxes, fees, and regulatory charges: P$485,015 million (+P$191,361 million or +65.2% vs. 9M24). Operating costs for taxes, fees and regulatory 
 charges in 9M25 include P$167,904 million corresponding to TMA.                                                                                |

| · | Commissions and advertising (agents, collection commissions and other commissions): Charges totaled P$297,533 million in 9M25 (+P$92,755 
 million or +45.3% vs. 9M24). The increase is mainly due to the consolidation of TMA’s results in 9M25, whose contribution amounts        
 to P$100,215 million.                                                                                                                    |

| · | Costs of equipment sold totaled P$224,740 million in 9M25 (+P$51,120 million or +29.4% vs. 9M24). This variation is mainly due to the 
 consolidation of TMA’s results in 9M25, whose contribution amounts to P$89,655 million.                                               |

| · | Programming and content costs: P$266,780 million (+P$53,788 million or +25.3% vs. 9M24). Programming and content costs for 9M25 include 
 P$34,252 million corresponding to TMA.                                                                                                  |

| · | Other costs totaled P$358,125 million (+P$102,477 million or +40.1% vs. 9M24), including bad debts, which totaled P$97,299 million (+P$19,964 
 million or +25.8% vs. 9M24).                                                                                                                  |

| · | Bad debt expenses in 9M25 include P$38,926 million corresponding to TMA. The charge for bad debt continued to show a favorable trend: 
 it represented 1.7% of total revenues as of September 30, 2025 (vs. 2.1% in 9M24).                                                    |

| · | Other operating costs, which include litigation and contingency charges, energy and other utilities, insurance, rentals, and internet 
 capacity, among others, amounted to P$260,826 million (+P$82,513 million or +46.3% vs. 9M24). TMA’s contribution for 9M25 totaled     
 P$63,113 million.                                                                                                                     |

| · | Depreciation, amortization, and impairment of fixed assets