Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 41

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 41
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 applying the corresponding adjustment factor.                                   |

| - | All items in the income statement are restated by applying the corresponding adjustment factors. |

| - | The effect of inflation on the Company's net monetary position is included in the income statement under 
 Net financial results, in the item “RECPAM.”                                                             |

| - | Comparative figures have been adjusted for inflation following the same procedure explained in the preceding 
 items.                                                                                                       |

Upon the initial application of the
inflation adjustment, equity accounts were restated as follows:

| - | Capital was restated from the later of the date of subscription or the date of the last accounting inflation 
 adjustment. The resulting amount was recorded in the Inflation adjustment.                                   |

| - | Other comprehensive income was restated from each accounting entry date. |

| - | Other retained earnings were not restated in the initial application. |

2.2 Accounting Policies

| a) | Subsidiaries |

Subsidiaries are all entities over which the Company
has control. The Company controls an entity where the Company is exposed to, or has rights to, variable returns from its involvement with
the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully
consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases.

Non-controlling interests in the results and equity
of subsidiaries are shown separately in the statement of profit or loss, statement of comprehensive income, statement of changes in equity
and statement of financial position respectively.

Inter-company transactions, balances and unrealised
gains on transactions between TMA and its subsidiaries are eliminated.

The subsidiaries’ financial statements cover
the same periods and are prepared as of the same closing date and in accordance with the same accounting policies as those of the Company.

| b) | Intangible Assets |

Intangible assets are recorded at their acquisition
or production cost, less accumulated amortization and any accumulated impairment losses, if applicable. These assets are reviewed for
recoverability if certain events or circumstances indicate that their carrying amount may not be fully recoverable.

Intangible assets, such as licenses and spectrum,
may have (i) an indefinite useful life when, based on an analysis of all relevant factors, it is concluded that there is no foreseeable
limit to the period during which the asset is expected to generate net cash flows for the consolidated entities, or (ii) a finite
useful