Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 2

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
Chunk 2
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 turn, adversely affect our business.
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●   The impacts of climate change could pose risks of damage to our infrastructure and cause disruptions in our operations, which may affect our financial results.
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●   Stakeholders’ evolving expectations regarding our ESG practices may impose additional costs or expose us to new risks.
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●   Operational risks could adversely affect our reputation and our profitability.
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●   Any failure by a strategic supplier to comply with its legal and contractual obligations could adversely affect our operations and any action or restriction by a foreign government against a strategic supplier could adversely affect our reputation.
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●   Restrictive covenants in Telecom’s outstanding indebtedness may restrict its ability to pursue its business strategies.
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●   We may be adversely affected by fluctuations in interest rates.
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●   We may be unable to refinance our outstanding indebtedness, or the refinancing terms may be materially less favorable than their current terms, which would have a material adverse effect on our business, financial condition, results of operations and cash flow.
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●   We may not obtain the benefits we expect from the acquisition of Telefónica Móviles in the anticipated timeframe.
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Risks Relating to Telecom Argentina’s Shares and ADSs

●   The New York Stock Exchange (“NYSE”) and/or the Buenos Aires Stock Exchange (by delegated authority of BYMA) may suspend trading and/or delist Telecom’s ADSs and Class B Shares, respectively, upon occurrence of certain events relating to Telecom’s financial situation.
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●   Under Argentine corporate law, shareholder rights may be fewer or less well defined than in other jurisdictions.
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PART I - ITEM 3 KEY INFORMATION   TELECOM ARGENTINA S.A.
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●   Changes in Argentine tax laws may adversely affect the tax treatment of our Class B Shares and/or the ADSs.
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●   Our shareholders may be subject to liability under Argentine law for certain votes of their securities.
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●   The price of our Class B Shares and the ADSs may fluctuate substantially, and your investment may decline in value.
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●   Restrictions on transfers of foreign exchange and the repatriation of capital from Argentina may impair your ability to receive dividends and distributions on, and the proceeds of any sale of the Class B Shares underlying the ADSs.
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●   Trading of Telecom Argentina’s Class B Shares in the Argentine