Company: TCMFF
Filing Date: 2025-11-10
Form Type: 6-K
Source: 0001104659-25-108893
Chunk: 11

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-10
Form: 6-K
Chunk 11
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24), and the income tax charge related to the application of the deferred tax method in 9M25 is a gain of P$210,198 million (vs. a loss of P$527,162 million in 9M24). Income tax for 9M25 includes a loss of P$40,574 million corresponding to the consolidation of TMA’s results. Consolidated Net Financial Debt As of September 30, 2025, our net financial debt (cash, cash equivalents – net of Client Funds - plus financial investments and financial NDF* minus loans) is negative and amounted to P$4,433,988 million, which represents an increase of P$1,360,474 when compared to the net financial debt as of December 31, 2024, restated by inflation. This increase was mainly driven by the financing obtained for the acquisition of TMA. * Contemplates rate swaps and NDF (non-delivery forwards) agreements. Investments in PP&E, intangible assets and rights of use assets As of September 30, 2025, consolidatedCAPEX (additions of PP&E and intangible assets) totaled P$849,370 million (+73.3% vs. 9M24). CAPEX for Telecom ( excluding TMA) totaled P$ 593,201 million (21% vs. 9M24). Including additions from rights of use, total investments amounted to P$989,760 million, of which P$279,459 million correspond to TMA. The investments were focused on:

| TELECOM ARGENTINA | 8 |

| · | Expansion                                                                                                                                   
 of both fixed and mobile data services to improve transmission and access speed offered to customers, the deployment of 4G coverage and     
 capacity, and continued expansion of 5G to support mobile internet growth and enhance service quality.                                      |
| · | Deployment and modernization of 4G mobile access sites to improve coverage and increase mobile network capacity. The 4G/LTE rollout reached 
 98% population coverage. According to the latest benchmark conducted by Ookla in September 2025, our mobile network customers with access   
 to our 4G network experienced improved service quality, reaching average speeds of 85 Mbps, compared to 66 Mbps in the same period in       
 2024.                                                                                                                                       |
| · | During 2025, we continued expanding our 5G network with the addition of 351 sites.                                                          |
| · | Additionally, we continued