Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 64

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 64
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, requesting a USD 117 million loan from TMA, to be repaid within a maximum term of 5 years, which will accrue
interest calculated semiannually at a 6-month CME Term SOFR plus a spread of 200 basis points, payable at maturity. As of December 31,
2024, a receivable of 128,712 million pesos from TSA was recorded on account of this.

Trademark License Agreement

TMA has agreements with TSA governing the use
of several of TSA’s brands (including, without limitation, "Movistar") within Argentina. These contracts are periodically
renewed and were in effect as of the date of issuance of these Financial Statements.

According to the Trademark License Agreement,
given the individual operating cash flow was positive for the corresponding previous year (defined as operating income before depreciation
and amortization, minus additions to PP&E and intangibles), the Company paid a fee equivalent to 1.6% of the Company's revenues, excluding
those arising from transactions with companies of the Telefónica Group, the sale of fixed assets and financial investments and
the income from indemnities and litigation. In this regard, the total expense for fiscal years ended December 31, 2024 and 2023 amounted
to 39,692 million pesos and 28,133 million pesos, respectively.

Management Fee Agreement

The Company receives management assistance services
from TLH HoldCo to carry out corporate services, including back office support and other technical services, for which it pays a fee calculated
based on the costs incurred by TLH HoldCo in providing such services, plus a profit margin.

The cost accrued for fiscal years 2024 and 2023
was of approximately 12,715 million pesos and 9,185 million pesos, respectively.

Digital Services Agreements

On April 13, 2018, TMA entered into agreements
with Telefónica Digital España, S.L.U. ("TDE"), under which TMA provides digital services to both companies, which
will be used exclusively outside Argentina ("TMA Digital Services Agreement"). It should be noted that, as a result of the merger
of TDE and Telefónica Investigación y Desarrollo, the entity responsible for providing these services is now Telefónica
Innovación Digital.

The consideration for these services includes
the costs incurred in providing the service plus a margin. The contract has an initial duration of five years, starting on January 1,
2018,