Company: TCMFF
Filing Date: 2025-08-11
Form Type: 6-K
Source: 0001104659-25-076236
Chunk: 2

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-11
Form: 6-K
Chunk 2
---
 the historical ARPU of each segment.

| 1-                         
 Consolidated Revenues      
 (in                        
 millions P$)               |     | 3-                                        
 Operating Income before D, A & I (EBITDA) 
 (in                                       
 millions P$)                              |
| 2-                         
 Quarterly Service Revenues 
 (in                        
 millions P$)               |     | 4-                                        
 Net Income (Loss)                         
 (in                                       
 millions P$)                              |

| TELECOM ARGENTINA | 2 |

Buenos Aires, August 11, 2025 - Telecom Argentina S.A. (“Telecom Argentina”, “Telecom” or the “Company”)
- (NYSE: TEO; BYMA: TECO2), announced today a Net Loss of P$75,554 million for the six-month period ended June 30,
2025. The Net Loss attributable to the Controlling Company amounted to P$83,792 million.

Comparative figures
for the previous fiscal year have been restated by inflation so that the resulting information is presented in terms of the current measurement
unit as of June 30, 2025.

The following table
shows the evolution of the national consumer price index (National CPI - according to INDEC’s official statistics) as of December
31, 2024, and as of June 30, 2024 and 2025:

|                                  | As of June 30, 
 2024           | As of December 31, 
 2024               | As of June 30, 
 2025           |
|:---------------------------------|:---------------|:-------------------|:---------------|
| Annual                           | 271.5%         | 117.8%             | 39.4%          |
| 3-month cumulative (since March) | 18.6%          | n/a                | 6.0%           |

During 1H25, consolidated
revenues reached P$3,357,004 million, with consolidated service revenues totaling P$3,160,986 million.

In 1H25, consolidated
service revenue performance showed an improvement relative to inflation, as described as follows:

| o | Telecom (excluding TMA): +3.8% vs. 1H24 (vs. -11.7% in real terms in 1H24 
 vs. 1H23).                                                                |
| o | TMA: +7.5% vs.