Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 86

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 86
---
 severally liable with the
National Government for the amounts calculated by an accounting expert (plus interest and costs), based on 0.5% of TASA’s profits
from each fiscal year, to be distributed according to the share interest of each of them according to the guidelines set forth in the
relevant Employee Stock Ownership Program. In December 2018, the Supreme Court of Justice of the Nation ruled in favor of the Company
regarding the appeal filed by TASA, concerning the use of percentages instead of ratios, as well as the interest rate applied by the accounting
expert.

However, as of the date hereof there are specific
issues on which there have been inconsistent rulings from first and second instances, which must be definitively resolved to determine
the criteria for quantifying any potential monetary judgment, including: (i) the profit-sharing percentage, (ii) whether net
profits or pre-tax profits should be considered, (iii) the periods during which the right to PSB was in force, (iv) who is eligible
to claim, and (v) the effects of TASA’s repurchase of Class C shares in 1998 on the PSC. In this regard, Management is
taking into consideration significant judicial decisions to prepare its estimates.

In December 2013, the Supreme Court of Justice
of the Nation ruled in the case "Domínguez v. Telefónica de Argentina S.A.," establishing that the statute of
limitations should begin to run on the date of approval of each annual balance sheet, as it concerns a monetary obligation the breach
of which results in recurring damages whenever dividends should have been paid.

Following this ruling, on February 14, 2012,
the National Court of Appeals on Labor Matters, in full court, decided in the case "Medina, Nilda Beatriz v. Telecom Argentina S.A.
and another on worker stock ownership," that "the statute of limitations applicable to claims for workers’ credits established
by Section 29 of Law 23,696 is the one provided in Article 4,023 of the Civil Code," meaning that the applicable statute
of limitations for such claims is ten years. On the other hand, in the Federal Civil and Commercial jurisdiction, on December 30,
2021, the three chambers of the Federal Civil and Commercial Court unified criteria by issuing a plenary ruling in the case "Altamirano
Elio and others v. Ministry of Labor, Employment, and Social Security and other on damages,"