Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 30

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 30
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 services customers of 1.1% and of 0.4% in the postpaid services customers as of March 31, 2025. Additionally,
the average churn rate per month amounted to 2% in 3M25 (compared to a 1.5% average in 3M24).

ARPU of Mobile Services in Argentina - Segment “ICT Services provided in Argentina – Telecom Networks”

A monthly operational measure used in the mobile services is ARPU, which we calculate by dividing adjusted total service revenues—excluding out
collect wholesale roaming, cell site rental and reconnection fees revenues and others (divided by three months) by the average number
of customers during 3M25. ARPU is not a measure calculated in accordance with IFRS Accounting Standards and our measure of ARPU may not
be calculated in the same manner as similarly titled measures used by other companies. In particular, certain components of service revenues
are excluded from Argentina’s ARPU calculations presented in this operating and financial review and prospects as of March 31, 2025.
Management believes that this measure is helpful in assessing the development of the subscriber base of mobile services. The following
table shows the reconciliation of total service revenues to such revenues included in the ARPU calculations of 3M25:

|                                                                                                                                                                |     |      3M25 |
|                                                                                                                                                                |     | $ million |
| Total Mobile service revenues                                                                                                                                  |     |   447,598 |
| Components of service revenues not included in the ARPU calculation: out collect (wholesale) roaming, cell sites rental, reconnection fees revenues and others |     |    -2,453 |
| Adjusted total service revenues included in the ARPU calculation                                                                                               |     |   445,145 |
| Average number of customers during 3M25 (millions)                                                                                                             |     |      21.7 |

Mobile services revenues generated in Paraguay
amounted to $34,158 million in 3M25 (a $12,333 million or 26.5% decrease compared to 3M24). The decrease was mainly due to lower levels
of ARPU, mainly as a result of higher discounts granted to retain customers and migration to lower-value plans.

Paraguay’s ARPU amounted to $5,910.4 in 3M25
(compared to $6,629.1 in 3M24), representing a 10.8% decrease.

In 3M25,