Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 33

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 33
---

to an ARPU of $14,097.6 as of March 31, 2024. The increase in ARPU is due to the fact that the Company was able to pass on the effects
of inflation to the price. The effect generated by the restatement in current currency as of March 31, 2025 included in ARPU amounts to
$472.6 and $5,945.1 as of March 31, 2025 and 2024, respectively.

In 3M25, the customer base in Argentina for the
segment “ICT Services provided in Argentina – Telecom Networks” amounted to 3.2 million customers, increasing a 0.7%
compared to 3M24, leveraged by Flow Full and Flow Flex products. The last one, that is 100% digital (no decoder or installation is required)
began to be marketed as a main product during 3Q24. Our Flow digital platform’s customer base reached 1.6 million and our Premium
Package’s customer base amounted to 1.2 million in 3M25, a 1.1% decrease compared to 3M24. The average churn rate per month amounted
to 1.5% and 1.6% as of March 31, 2025 and 2024, respectively.

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

An important monthly operational measure used in the Cable Television services is ARPU, which we calculate by dividing adjusted total service revenues—excluding
connection and administration fees, advertising services 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 Cable Television’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 cable television services. The following
table shows the reconciliation of total cable television service revenues to such revenues included in the ARPU calculations of 3M25:

|                                                                      |     |      3M25 |
|                                                                      |     | $ million |
| Total Cable television service revenues                              |     |