Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 94

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 94
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 with mobile handsets
and prepaid services in the distribution network, as well as the sale of financed handsets to retailers, is managed through a conservative
credit granting policy. This includes the use of modern credit rating methods, requiring guarantees, and consulting commercial databases.

TMA is also exposed to credit risk arising from
its short-term financial investments. To manage this risk, TMA monitors the credit limits granted to each counterparty and diversifies
this exposure among top-tier financial institutions in accordance with the current credit policies of financial counterparties.

The follows a detail of the financial results
recognized in 2024 and 2023:

|                                                                                        |     | 2024 |                  |   |     | 2023 |                 |
| Interest income                                                                        |     |      |  121,018,571,104 |   |     |      | 260,717,187,368 |
| Financial income                                                                       |     |      |  121,018,571,104 |   |     |      | 260,717,187,368 |
| Interest expense                                                                       |     |      |   99,405,705,472 |   |     |      |  27,877,202,578 |
| Interests and other charges related to provisions (Note 14)                            |     |      |  158,491,286,263 |   |     |      | 164,684,239,812 |
| Financial expense                                                                      |     |      |  257,896,991,735 |   |     |      | 192,561,442,390 |
| Net financial result excluding exchange differences and currency adjustment for RECPAM |     |      | (136,878,420,631 | ) |     |      |  68,155,744,978 |

| 16. | Taxation |

The Company individually files an income tax return
in accordance with the Argentine tax legislation.

The legal tax rate applicable as of the 2021 period
consists of a progressive scale, with amounts adjusted annually starting on January 1, 2022, based on the annual variation of the
Consumer Price Index (CPI) published by the INDEC. The scale in effect for fiscal year 2024 is as follows:

| Accumulated net taxable income |                |     |      |                |     |       |                |     |        |    |   |     |                      |                |
| More than $                    |                |