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

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-10
Form: 6-K
Chunk 10
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: totaled P$1,364,066 million (+P$140,487 million or +11.5% vs. 9M24). The charge 
 for the period includes P$345,469 million corresponding to the consolidation of TMA and reflects the impact of amortizations from additions 
 after September 30, 2024, partially offset by the effect of assets that reached the end of their useful life after that date.               |

Net Financial Results

Net
financial results (including financial debt costs and other net financial results) showed a loss of P$685,200 million
in 9M25 (vs. a gain of P$1,961,278 million in 9M24). The consolidation of TMA’s results contributes with a loss of P$53,854 million
in 9M25. This variation was mainly driven by:

*Related to Notes issued in UVA

| TELECOM ARGENTINA | 7 |

The variation in consolidatednet financial results in 9M25 was mainly explained by a higher loss from foreign exchange differences, measured in real terms, of P$2,624,058 million. This was driven by inflation of 22.0% versus a 33.7% depreciation of the Argentine Peso against the U.S. dollar (vs. inflation of 101.6% and a 20.0% depreciation of the Argentine Peso against the U.S. dollar in 9M24). Additionally, there were higher financial debt interest expenses of P$144,750 million due to increased borrowing, partially offset by higher gains from loan adjustments of P$117,159 million, resulting from the maturity of UVA-denominated notes, which reduced the outstanding principal balance and, consequently, the associated financial charges. Income Tax Telecom’s income tax includes the following effects:

| i) | the current income tax, determined based on the current tax legislation applicable to Telecom, |

| ii) | the effect of applying the deferred tax method with respect to temporary differences determined by comparing our asset and liability valuation 
 according to tax and financial accounting criteria which includes the effect of the income tax inflation adjustment.                           |

Income tax shows a gain of P$64,409 million in 9M25 (vs. a loss of P$556,137 million in 9M24). Losses related to current income tax amount to P$145,789 million in 9M25 (vs. a loss of P$28,975 million in 9M