TELECOM ARGENTINA SA

The following explanations are not technical definitions, but to assist the financial statement reader to understand certain terms as used in these unaudited condensed consolidated financial statements.

Adesol Consolidated: refers to Adesol S.A. and its subsidiaries located in Uruguay, Telemas S.A. and the following license-holding entities that operate subscriber-based television services in various localities within that country: Bersabel S.A., Audomar S.A., Dolfycor S.A., Reiford S.A., Tracel S.A., Space Energy Tech S.A., and Visión Satelital S.A.

ADR: American Depositary Receipt.

ADS: Telecom Argentina’s American Depositary Share, listed on the New York Stock Exchange, each representing five Class B Shares.

ANC (Autoridad Nacional de la Competencia): The decentralized antitrust agency of Argentina, which replaced the CNDC in November 2025.

ARCA (Agencia de Recaudación y Control Aduanero): Argentine Tax Collection and Customs Control Agency.

BCRA (Banco Central de la República Argentina): The Central Bank of Argentina.

BYMA (Bolsas y Mercados Argentinos): Buenos Aires Stock Exchange.

CAPEX: Capital expenditures.

CNDC (Comisión Nacional de Defensa de la Competencia): Argentine Antitrust Commission, which was dissolved by Decree No. 810/25, published on November 17, 2025, and replaced by the ANC.

CNV (Comisión Nacional de Valores): The Argentine Securities and Exchange Commission.

CPI: National Consumer Price Index.

CVH: Cablevisión Holding S.A., controlling company of Telecom Argentina since January 1, 2018.

DFI: Derivative Financial Instrument.

ENACOM (Ente Nacional de Telecomunicaciones): The Telecommunications Regulatory Authority of Argentina.

FFSU or SU Fund (Fondo Fiduciario del Servicio Universal): Universal Service Fiduciary Fund.

Fintech services: Financial technology services are activities that involve the use of innovation and technological developments for the design, offer and provision of financial products and services.

Fixed and intangible assets: Includes PP&E, Intangible assets, Goodwill, Investment Properties and Rights of use assets.

FVPL: Fair Value through Profit or Loss.

FVOCI: Fair Value through Other Comprehensive Income.

IAS: International Accounting Standards.

IASB: International Accounting Standards Board.

ICT Services (Information and Communication Technology services): Services to transport and distribute signals or data, such as voice, text, video and images, provided or requested by third-party users, through telecommunications networks.

ICT Services provided in Argentina – Personal Network: Corresponds to the operations carried out by Telecom Argentina and its subsidiaries located in Argentina except TMA (TSMA -until December 31, 2025-, Cable Imagen, PEM, Inter Radios, Personal Smarthome and NYS2) engaged in the provision of ICT services.

ICT Services provided in Argentina – TMA Network: Corresponds to the operations carried out by the subsidiary TMA.

IFRS Accounting Standards: International Financial Reporting Standards, as issued by the International Accounting Standards Board.

La Capital Cable: Name corresponding to an associate of Telecom Argentina, La Capital Cable S.A.

LGS (Ley de General de Sociedades): Argentine Corporations Law No. 19,550 as amended. Since the enforcement of the new Civil and Commercial Code its name was changed to “General Corporations Law”.

Micro Sistemas: Name corresponding to limited company was a subsidiary until January 21, 2026, and then accounted as a joint venture namely Micro Sistemas S.A.

NYSE: New York Stock Exchange.

OPH: Name corresponding to company Open Pass Holding LLC that is a joint venture of Telecom Argentina.

Other segments: These correspond to a) ICT services provided through subsidiaries (Telecom USA, Núcleo, Televisión Dirigida, Adesol and its subsidiaries, Opalker, Ubiquo, Naperville, Saturn, Manda and RISSAU) in Paraguay, Uruguay and Chile and b) activities in the fintech industry, carried out, through subsidiaries Micro Sistemas (until January 21, 2026), Personal Envíos, CrediPay and MFH in Argentina and Paraguay.

Openxpand: Name corresponding to a joint venture of Telecom, Openxpand S.A.

Pem/ Cable Imagen/ Inter Radios/ Personal Smarthome/ NYS2/ RISSAU/ Manda/ TMA: Names corresponding to limited companies or limited responsibility companies that are directly or indirectly controlled according to the definition of the LGS, or were controlled by Telecom Argentina, directly or indirectly: Pem S.A.U., Cable Imagen S.R.L., Inter Radios S.A.U., Personal Smarthome S.A., NYS2 S.A.U., Red Intercable Satelital S.A.U., Manda S.A. and Telefónica Móviles Argentina S.A.

PP&E: Property, plant and equipment.

RECPAM (Resultado por exposición a los cambios en el poder adquisitivo de la moneda): Inflation Adjustment Gain (Loss).

Roaming: a function that enables mobile subscribers to use the service on networks of operators other than the one with which they signed their initial contract. The roaming service is active when a mobile device is used in a foreign country (included in the GSM network).

Telecom Argentina: Telecom Argentina S.A.

Telecom or the Company: Telecom Argentina and its consolidated subsidiaries.

Telecom USA/ Núcleo/ Personal Envíos/ Televisión Dirigida/ Adesol/ Opalker/ Ubiquo/ MFH/ Naperville/ Saturn/ CrediPay: Names corresponding to foreign companies Telecom Argentina USA Inc., Núcleo S.A.E., Personal Envíos S.A., Televisión Dirigida S.A., Adesol S.A., Opalker S.A., Ubiquo Chile Spa, Micro Fintech Holding LLC, Naperville Investments LLC, Saturn Holding LLC and CrediPay S.A., respectively, companies that are directly or indirectly controlled according to the definition of the LGS.

TSMA: Name corresponding to the subsidiary merged as from January 1, 2026, with Telecom Argentina, namely Teledifusora San Miguel Arcángel S.A.

USA: United States of America.

UVA (Unidad de Valor Adquisitivo): Purchasing Value Unit, an index developed and published by the BCRA.