Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 5

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 5
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 related expenses                                                |    7 |            -78,801 |   -119,145 |
| Payments of leases liabilities                                                                |      |            -30,069 |    -21,236 |
| Total cash flows from financing activities                                                    |      |          1,059,501 |     43,124 |
| NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS                                        |      |             75,030 |    -39,503 |
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR                                        |    2 |            345,596 |    377,744 |
| NET FOREIGN EXCHANGE DIFFERENCES AND RECPAM ON CASH AND CASH EQUIVALENTS                      |      |             -8,281 |   -103,405 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD                                            |    2 |            412,345 |    234,836 |

Main non-cash transactions from the consolidated statement of cash flows
are the following:

|                                                                       |                              | March 31, |        |
| Description                                                           | Classification of activities |      2025 |   2024 |
| PP&E and intangible assets acquisition financed with accounts payable | Investing - Operating        |   131,254 | 75,954 |
| Right of use assets acquisition owed                                  | Investing – Financing        |    43,688 | 63,626 |
| Trade payables cancelled with government bonds                        | Investing – Operating        |         - |  2,270 |
| Issuance costs payable                                                | Financing – Operating        |     5,305 |      - |

The accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.

<div align='center'>F-7</div>

| TELECOM        
 ARGENTINA S.A. |

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF MARCH 31, 2025, AND 2024

(In millions of Argentine pesos in current currency, except as otherwise
indicated)

INDEX

|                                                                                                                                | Page |
| Note 1 – Basis of preparation of the unaudited condensed consolidated financial statements and significant accounting policies | F-9  |
| Note 2 – Cash and cash equivalents and Investments.                                                                            | F-15 |
| Note 3 – Good