Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 37

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 37
---
604,029,278 | ) |
| Additions financed by lease liabilities (Note 12 b)                                      |     |      | (65,516,825,620 | ) |     |      | (49,117,340,137 | ) |
| Additions of asset dismantling costs (Note 14 b)                                         |     |      |               - |   |     |      | (13,637,983,235 | ) |

Notes 1 to 22 are an integral part of these statements
of cash flows.

Telefónica Móviles Argentina S.A.

Notes to Financial Statements

as of December 31, 2024 and 2023, and for

fiscal years ended December 31, 2024 and 2023

| 1. | Background Information |

Telefónica Móviles Argentina S.A.
(the "Company" or "TMA") is a company governed by the laws of Argentina and is controlled by TLH HoldCo S.L. ("TLH
HoldCo"), a company governed by the laws of the Kingdom of Spain, whose sole shareholder is Telefónica, S.A. ("Telefónica"
or "TSA"). The Company was registered with the Inspección General de Justicia ("IGJ") on December 1,
1994, and its expiration date is November 30, 2093. The Company is an integrated telecommunications provider, focused on mobile voice
and data services, fixed voice services, broadband, television, and other digital services.

The Company's registered office in Argentina is
located at Av. Corrientes 707, City of Buenos Aires, Argentina.

The Company does business under the commercial
brands "Movistar" and "Tuenti."

TMA is subject to several laws and regulations
in Argentina. Licenses must be obtained under specific circumstances for the provision of services. The most prominent regulatory aspects
and the licenses held by TMA are detailed in Note 3 and Note 18.

The Company has evolved since its inception through
a series of corporate transactions. The most significant transaction was the acquisition and subsequent merger of TMA with Compañía
de Radiocomunicaciones Móviles, S.A. ("CRM") in 2005. Additionally, during the fiscal year 2017, TMA merged with Compañía
Internacional de Telecomunicaciones S.A. ("Cointel"), Telefónica Holding de Argentina S.A. ("THA