Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 41

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 41
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 |  13,635 |     |   152,273 |     |   -138,638 |     |  -91.0 |
| Fair value gains/(losses) on financial assets at fair value through profit or loss |  -1,965 |     |   -37,060 |     |     35,095 |     |  -94.7 |
| Other interests, net                                                               |  -4,425 |     |     8,632 |     |    -13,057 |     | -151.3 |
| RECPAM                                                                             |  34,020 |     |    82,175 |     |    -48,155 |     |  -58.6 |
| Other                                                                              | -25,943 |     |   -25,890 |     |        -53 |     |    0.2 |
| Total other financial results, net                                                 |  15,322 |     |   180,130 |     |   -164,808 |     |  -91.5 |
| Total financial results, net                                                       | 100,956 |     | 1,424,208 |     | -1,323,252 |     |    n/a |

Telecom incurred in a financial gain, net of $100,956 million in 3M25 (compared to a gain of $1,424,208 million in 3M24).Financial results, net
contain $(14,150) million corresponding to the consolidation of TMA as of March 31, 2025.

The lower gain from Financial Results, net in 3M25
was mainly due to less negative devaluation measured in real terms compared to 3M24 (4.1% compared to 30.0%).

| · | Income tax benefit (expense) |

Telecom’s income tax includes the following
effects: (i) the current tax payable pursuant to tax legislation applicable to Telecom, and (ii) the effect of applying the deferred tax
method on temporary differences arising out of the Company’s asset and liability valuation according to tax versus financial accounting
criteria, including the income tax inflation effect.

Income tax expense amounted to $119,745 million
in 3M25 compared to $328,741 million in 3M24. It includes the following effects: (i) current tax expenses, Telecom’s generated $238,918
million tax expense in 3M25 (compared to