Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 69

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 69
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 retained earnings as of December 31,
2022, of 28,410,356,221, expressed in the currency of that date, partially releasing this amount from the reserve for future dividends.
All the preceding figures are expressed in nominal values, without restatement, as described in note 2.1.b).

On April 3, 2024, the General Ordinary and
Extraordinary Shareholders’ Meeting of the Company resolved to assign the accumulated negative retained earnings as of December 31,
2023, amounting to 89,477,398,891, expressed in the currency of that date, partially releasing this amount from the reserve for future
dividends. All the preceding figures are expressed in nominal values, without restatement, as described in note 2.1.b).

| e) | Other Comprehensive Income |

The balances in the statement of comprehensive
income include the amounts, net of tax effects, of temporary adjustments of assets and liabilities recognized in the statement of changes
in equity (through recognized income and expenses) until they are settled or realized, when they are finally recognized as equity in the
income statement.

| f) | Effect of the Capital Increase on Subsidiaries |

The effect of the capital increase on subsidiaries
consisted of the impact on their equity due to the capital subscription in TMA's subsidiaries by TMA or by non-controlling shareholders,
when not all shareholders contributed pro rata their ownership interests and the company's fair value was different from its book value.
The amount was determined by the difference between the amounts subscribed and paid in each of the capital increase of a TMA subsidiary
and the change in the contributor’s interest in the book value of the subsidiary’s equity. Depending on whether the contributor
was TMA or another shareholder, this difference was reflected accordingly in its equity.

On January 5, February 3, and March 10,
2023, TASA entered into agreements with TMA, under which the shareholder committed to make irrevocable contributions on account future
share subscriptions in the amounts of 8,000 million, 5,300 million and 703 million pesos, respectively. On March 28, 2023, TASA’s
shareholders resolved to capitalize these irrevocable contributions and to issue in favor of TMA 140,030,000,000 book-entry preferred
shares, of $0.10 nominal amount each and entitled to one vote per share, with the other shareholders waiving their pre-emptive