Telecom Argentina S.A.

Equities

TECO2

ARP9028N1016

Integrated Telecommunications Services

End-of-day quote Buenos Aires S.E. Other stock markets 06:00:00 2024-05-08 pm EDT			5-day change	1st Jan Change
2,019 ^ARS	-2.58%		+14.10%	+45.97%

May. 09	Earnings Flash (TEO) TELECOM ARGENTINA S.A. Reports Q1 Revenue P$683.92B	MT
Apr. 25	Telecom Argentina S.A. Approves Board and Committee Elections	CI

Telecom Argentina S A : - Form 6-K

March 10, 2023 at 06:04 am EST

TELECOM ARGENTINA

Relevant financial events of the period

Dismissal of appeals

On November 15, 2022, in proceedings "Telecom Argentina S.A. vs. EN-ENACOM and other re. precautionary measure (Autonomous)" (File No. 12.881/2020) the National Supreme Court of Justice dismissed the complaint appeals filed by the National Government and ENACOM against the ruling of the Chamber II of the Federal Court of Appeals on Administrative Litigation Matters that denied the extraordinary appeals filed by the National Government and ENACOM against the ruling of said Chamber that allowed the appeal filed by the Company, revoked the decision of the instance of origin and admitted the precautionary measure requested by Telecom Argentina, ordering the suspension of the effects of articles 1, 2, 3, 4, 5 and 6 of Decree No. 690/2020 and ENACOM Resolutions No. 1466/2020, 1467/2020 and 204/21, and its consequent inapplicability in relation to the Company.

Resignation of a member of the Board of Directors and Ordinary and Extraordinary General Shareholders Meeting

On November 17, 2022, Mr. Sebastian Bardengo addressed a letter to the Chairman of the Board of Directors notifying that, due to personal reasons, he submitted his resignation as member of the Board of Directors and member of the Executive Committee of Telecom Argentina effective as from December 31, 2022.

In light of this resignation, the Shareholders' Meeting summoned for December 21, 2022 resolved, among other issues, the following:

·	Appoint Mr. Ignacio Rolando Driollet as a regular director, to serve from January 1, 2023 and until the end of 2023. Mr. Driollet qualifies as "NOT independent" in accordance with the Rules of the Comisión Nacional de Valores (National Securities Commission)

·	Approve the management carried out by Mr. Sebastian Bardengo from April 27, 2022 until the date of the meeting.

Loans with CDB, Finnvera, EDC and Cisco Systems Capital Corporation

Chinese Development Bank Shenzhen Branch (CDB): During 2022, the Company subscribed new tranches for a total amount of RMB488 million (equivalent to US$70.5 million).

Finnvera: During 2022, the Company received disbursements for a total amount of US$11.4 million. These disbursements complete the total amount committed for this credit line.

Export Development Canada (EDC): In June and October 2022, the Company received disbursements for a total amount of US$23 million. These disbursements complete the total amount committed for this line of credit.

Cisco Systems Capital Corporation: During 2022, the Company received disbursements for a total amount of US$16 million.

These proceeds were used for the acquisition of telecommunication equipment.

Relevant events after December 31, 2022

Class 14 local notes - Issuance

Issuance Date: February 10, 2023.

Amount Issued: US$62.4 million to be paid in Argentine pesos at the applicable exchange rate.

Maturity Date: February 10, 2028.

TELECOM ARGENTINA

Amortization: Bullet.

Interest Rate and payments: 1.00% p.a, quarterly interest payments

Decease and designation of Director

On February 11, 2023, the unfortunate loss of Engr. Germán Horacio Vidal, member of the Board of Directors of Telecom Argentina and member of the Company's Audit Committee and Executive Committee, occurred. Both his career in the industry and his commitment to the future of the Company have been remarkable.

For this reason, on February 28, 2023, the Company's Supervisory Committee appointed Mr. Ignacio Cruz Moran as Director of Telecom Argentina to act until the next Shareholders' Meeting according to section 258, second paragraph of Argentine General Corporations Law. Also, the Board of Directors appointed Mr. Ignacio Cruz Moran as member of the Company's Audit Committee and Executive Committee.

Preliminary Injunction

On March 8, 2023, we informed of the decision rendered by the Federal Administrative Litigation Matters Court No. 8 in the proceedings "Telecom Argentina S.A. a/EN-Enacom and other re. preliminary injunction (Autonomous)" (Docket No. 12,881/2020) whereby the Court decided to further extend for a period of six months the preliminary injunction previously granted to us according to section 5 of Law No. 26,854.

TELECOM ARGENTINA

Telecom Argentina is a leading telecommunications company in Argentina, where it offers, either itself or through its controlled subsidiaries local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services, among other services. Additionally, Telecom Argentina offers mobile, broadband and satellite TV services in Paraguay and pay TV services in Uruguay. The Company commenced operations on November 8, 1990, upon the Argentine government's transfer of the telecommunications system in the northern region of Argentina.

As of December 31, 2022, Telecom Argentina owns 2,153,688,011 issued and outstanding shares.

* Cablevisión Holding S.A. owns 18.89% of the total capital stock directly and owns9.27% of the total capital stock indirectly through VLG S.A.U.

** Trustees: Hector Horacio Magnetto and David Manuel Martínez Guzmán

For more information, please contact Investor Relations:

Luis Fernando Rial Ubago

(5411) 5112 7218

Tomás Pellicori

(5411) 5524 7692

Santiago Gramegna

(5411) 6193 6667

For information about Telecom Argentina's services, visit:

www.telecom.com.ar

www.personal.com.ar

www.personal.com.py

Disclaimer

This document may contain statements that could constitute forward-looking statements, including, but not limited to (i) the Company's expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; (ii) the continued synergies expected from the merger between the Company and Cablevisión S.A. (or the Merger); (iii) the implementation of the Company's business strategy; (iv) the changing dynamics and growth in the telecommunications and cable markets in Argentina, Paraguay, Uruguay and the United States; (v) the Company's outlook for new and enhanced technologies; (vi) the effects of operating in a competitive environment; (vii) the industry conditions; (viii) the outcome of certain legal proceedings; and

TELECOM ARGENTINA

(ix) regulatory and legal developments. Forward-looking statements may be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "will," "may" and "should" or other similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by forward-looking statements. These factors include, among others: (i) the Company's ability to successfully implement our business strategy and to achieve synergies resulting from the Merger; (ii) the Company's ability to introduce new products and services that enable business growth; (iii) uncertainties relating to political and economic conditions in Argentina, Paraguay, Uruguay and the United States, including the policies of the new government in Argentina; (iv) the impact of political developments, including the policies of the new government in Argentina, on the demand for securities of Argentine companies; (v) inflation, the devaluation of the peso, the Guaraní and the Uruguayan peso and exchange rate risks in Argentina, Paraguay and Uruguay; (vi) restrictions on the ability to exchange Argentine or Uruguayan pesos or Paraguayan guaraníes into foreign currencies and transfer funds abroad; (vii) the impact of currency and exchange measures or restrictions on our ability to access the international markets and our ability to repay our dollar-denominated indebtedness; (viii) the creditworthiness of our actual or potential customers; (ix) the nationalization, expropriation and/or increased government intervention in companies; (x) technological changes; (xi) the impact of legal or regulatory matters, changes in the interpretation of current or future regulations or reform and changes in the legal or regulatory environment in which the Company operates, including regulatory developments such as sanctions regimes in other jurisdictions (e.g., the United States) which impact on the Company's suppliers; (xii) the effects of increased competition; (xiii) reliance on content produced by third parties; (xiv) increasing cost of the Company's supplies; (xv) inability to finance on reasonable terms capital expenditures required to remain competitive; (xvi) fluctuations, whether seasonal or in response to adverse macro-economic developments, in the demand for advertising; (xvii) the Company's ability to compete and develop our business in the future; (xviii) the impact of increased national or international restrictions on the transfer or use of telecommunications technology; and (xix) the impact of the outbreak of COVID-19 on the global economy and specifically on the economies of the countries in which we operate, as well as on our operations and financial performance. Many of these factors are macroeconomic and regulatory in nature and therefore beyond the control of the Company's management. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, planned or projected. The Company does not intend and does not assume any obligation to update the forward-looking statements contained in this document. These forward-looking statements are based upon a number of assumptions and other important factors that could cause our actual results, performance or achievements to differ materially from our future results, performance or achievements expressed or implied by such forward-looking statements. Readers are encouraged to consult the Company's Annual Report on Form 20-F and the periodic filings made on Form 6-K, which are periodically filed with or furnished to the United States Securities and Exchange Commission, as well as the presentations periodically filed before the Argentine Securities and Exchange Commission (Comisión Nacional de Valores) and the Buenos Aires Stock Exchange (Bolsas y Mercados Argentinos), for further information concerning risks and uncertainties faced by the Company.

(Financial tables follow)

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TELECOM ARGENTINA

Telecom Argentina S.A.

Consolidated Information

Annual period - Fiscal Year 2022