TELECOM ARGENTINA SA

Telecom Argentina S.A. has been notified of a ruling by the Federal Court of Appeals of Tucumán regarding a case initiated by Asociación de Consumidores del NOA. The court partially granted the appeal, confirming the rejection of compensatory liability for a past service outage but reversing the decision on proportional reimbursement to users for the service not provided during that outage.

Telecom Argentina SA reported a strong financial performance for the first half of 2026, achieving a net income of 869,038 million Argentine pesos, a significant improvement from a loss in the prior year period. Revenues also saw a notable increase, reaching 5,075,511 million Argentine pesos. The company also noted a transaction involving the acquisition of 5% of Ubiquo.

Telecom Argentina S.A. reported a consolidated net income of P$869,038 million for the first half of 2026, a significant turnaround from a net loss in the prior year period. Consolidated revenues reached P$5,075,511 million, with service revenues growing 16.0% year-over-year, partly due to the full consolidation of TMA. The company also saw an improvement in its operating income margin and a decrease in net financial debt. Additionally, the Argentine Antitrust Tribunal issued a resolution requiring the transfer of 6 million mobile customers and 211,400 internet subscribers as a condition for the TMA acquisition.

Telecom Argentina S.A. announced the appointment of Mr. Manuel García Diez as its new Chief Financial Officer (CFO). The Board of Directors approved this change on July 22, 2026. Mr. García Diez is scheduled to commence his role on August 3, 2026.

Telecom Argentina S.A. announced that the National Authority for the Defense of Competition has issued a resolution imposing remedies. The company is required to transfer a minimum base of 6,000,000 mobile service customers and associated radio spectrum rights. Additionally, it must transfer 211,400 residential internet subscribers across 28 localities and comply with behavioral remedies in corporate and wholesale segments.

Telecom Argentina reported significantly improved financial results for the first quarter of 2026. Net income surged by 420.25% to ARS 642,984 million, with earnings per share increasing by 439.07% to ARS 295.62. Revenues also saw a substantial rise of 30.54% to ARS 2,357,686 million, while operating income nearly doubled. The company also reported a healthy increase in cash and cash equivalents and a decrease in current liabilities.

Telecom Argentina reported a significant increase in consolidated net income to P$642,984 million in Q1 2026, up from P$123,593 million in Q1 2025, primarily driven by higher foreign exchange gains. Consolidated revenues reached P$2,357,686 million, a 33.6% increase year-over-year, largely due to the full consolidation of TMA results. The company also achieved a 34.8% operating income margin and reduced its net financial debt by 15.6% in real terms. Additionally, shareholders approved the distribution of up to US$300,000,000 in dividends.

Telecom Argentina S.A. announced it was notified of a decision by the National Court of First Instance on Commercial Matters N° 17. The court upheld an action brought by Proconsumer, ordering Telecom Argentina to reimburse clients for amounts paid under "cargo Revista Miradas" along with interests. Additionally, the company was fined AR$ 5,000,000 as punitive damage. Telecom Argentina, with legal counsel, plans to appeal the ruling.

Telecom Argentina announced that the Argentine Antitrust Tribunal extended a review period by an additional 30 days. This extension, granted via Resolution TDC 14/2026, applies to a proceeding under Law 27,442. The 30-day extension will commence after the initial 45-day period, which began on February 24, 2026, concludes. Further extensions may be granted if deemed necessary.

Telecom Argentina S.A. (TEO) shareholders approved the merger with Teledifusora San Miguel Arcangel S.A. (TSMA), effective January 1, 2026. The meeting also authorized the Board of Directors to distribute dividends in cash or kind up to US$300 million before December 31, 2026. Additionally, shareholders approved the financial documentation for Fiscal Year 2025, absorbed a negative retained earnings balance of AR$135.64 billion, and reclassified AR$126.40 billion from voluntary reserve to contributed surplus.