Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 31

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 31
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$503,746 millions and payments for acquisitions
of PP&E and Intangible assets of P$246,041 millions, partially offset by P$331,873 million proceeds from sale of PP&E and financial
assets.

In
2023, cash flows used in investing activities included payments for acquisitions of PP&E and Intangible assets of P$411,539 millions
and payment for financial assets of P$100,958 millions. And partially offset by proceeds from sale of financial assets and others of P$91,312
million.

Cash flows used in financing activities were P$61,042 million and P$5,720 million in 2024 and 2023,respectively.

In
2024, cash flows used in financing activities included amortization and repayment of debt with financial entities, related parties and
others for P$67,376 million, partially offset by shareholder contributions of P$9,839 million.

In
2023, cash flows used in financing activities included amortization and repayment of debt with financial entities, related parties and
others for P$41,315 million, partially offset by shareholder contributions of P$36,305 million.

These effects were partially
offset by the reduction in the effect of RECPAM on cash and cash equivalents, which decreased by P$272,280 million or 69.2% compared to
2023.

For more information on cash
flow, see Statements of Cash Flows for the years ended December 31, 2024 and 2023 in the TMA Financial Statements.

Capital Expenditures

TMA’s main investment
projects consisted of:

| ● | the deployment of fiber optic network to 252,000 new customers to connect homes with broadband reaching 
 3.8 million customers in 2024 ensuring improved connection quality;                                     |

| ● | the enhancement of its mobile network’s service quality through a swap of Radio Access Network in                                          
 Buenos Aires City and Buenos Aires Greater Area, which started in 4Q24 and is expected to acelerate during 2025, and will allow for future 
 capex optimization and maintenance savings; and                                                                                            |

| ● | the launch of its first 5G network sites, reaching 67 in 2024 (an amount which is expected to further                   
 increase during 2025), in compliance with spectrum license obligations and as part of TMA’s commercial growth strategy. |

Independent auditors’ report

To the President and Directors of

Telefónica Móviles de