<SEC-DOCUMENT>0001104659-21-056931.txt : 20210429
<SEC-HEADER>0001104659-21-056931.hdr.sgml : 20210429
<ACCEPTANCE-DATETIME>20210429072917
ACCESSION NUMBER:		0001104659-21-056931
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210429
FILED AS OF DATE:		20210429
DATE AS OF CHANGE:		20210429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELECOM ARGENTINA SA
		CENTRAL INDEX KEY:			0000932470
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13464
		FILM NUMBER:		21867079

	BUSINESS ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB
		BUSINESS PHONE:		54-11-4968-4000

	MAIL ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELECOM ARGENTINA STET FRANCE TELECOM SA
		DATE OF NAME CHANGE:	19950809
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2114589d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT>&nbsp;</P>



<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule 13a-16 or 15d-16</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">For the month of April 2021</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">Commission File Number: 001-13464</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 16pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Telecom
Argentina S.A.</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(Translation
of registrant&rsquo;s name into English)</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Alicia
Moreau de Justo, No. 50, 1107</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Buenos
Aires, Argentina</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(Address
of principal executive offices)</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 90%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="text-align: center; width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">Form&nbsp;20-F</FONT></TD>
  <TD STYLE="width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
  <TD STYLE="width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></TD>
  <TD STYLE="text-align: center; width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">Form&nbsp;40-F</FONT></TD>
  <TD STYLE="width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 90%">
  <TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT>&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 90%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: center; width: 20%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 20%"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif">No</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Telecom
Argentina S.A.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">TABLE
OF CONTENTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><U>Item</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B><I>1.</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><A HREF="#summary"><B><I>Summary
                                            of the Resolutions approved by the Ordinary and Extraordinary General Shareholders&rsquo;
                                            Meeting held on April&nbsp;28, 2021.</I></B></A></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B><I>2.</I></B></FONT></TD><TD STYLE="text-align: justify"><A HREF="#ss_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B><I>Composition of the Board of Directors, the Supervisory Committee, members of the Audit Committee and the Independent Auditors</I></B></FONT></A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><IMG SRC="tm2114589d1_6kimg001.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>FREE TRANSLATION</U></B></FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><U><A NAME="summary"></A>Summary
of the Resolutions adopted by the Ordinary and Extraordinary <BR>
General Shareholders&rsquo; Meeting held on April&nbsp;28, 2021</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><I>The
Shareholders&rsquo; Meeting was held with the Shareholders attending remotely, pursuant to the requirements of the Comisi&oacute;n Nacional
de Valores&rsquo; General Resolution No.&nbsp;830/2020, due to the prohibition, limitation or restriction on the free movement of people
in general, as a result of the health emergency status introduced by Necessity and Urgency Decree No.&nbsp;297/2020 and successive regulations
issued by the National Executive Power. The Meeting was held on the Cisco Webex video-teleconference system.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">The
following resolutions were adopted by the Shareholders when considering each item on the Shareholders&acute; Meeting Agenda.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>Previous
Item: <U>Remote Attendance to the Shareholders&rsquo; Meeting</U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">It
was approved that the Shareholders&rsquo; Meeting be carried out with remote attendance pursuant to the requirements of the <I>Comisi&oacute;n
Nacional de Valores</I>&rsquo; General Resolution No.&nbsp;830/2020.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>1)
<U>Appointment of two shareholders to sign the Minutes of the Meeting</U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">The
representative of shareholder Cablevisi&oacute;n Holding S.A. and the representative of shareholder Fintech Telecom LLC were appointed
to sign the Minutes of the Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>2)<U>&nbsp;&nbsp;Consider
the documentation required by Law No.&nbsp;19,550 section 234 subsection 1, the&nbsp;Comisi&oacute;n Nacional de Valores&nbsp;(&ldquo;CNV&rdquo;)
Rules, and the&nbsp;Bolsas y Mercados Argentinos&nbsp;(&ldquo;BYMA&rdquo;) Rules, as well as the financial documentation in English required
by the U.S. Securities and Exchange Commission&rsquo;s rules&nbsp;and regulations, for the Company&rsquo;s thirty-second Fiscal Year,
ended December&nbsp;31, 2020 (the &ldquo;Fiscal Year 2020&rdquo;)</U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">All
of the documentation submitted for the consideration of the Shareholders was approved without any changes, in the same manner it was
approved by the Board of Directors, the Supervisory Committee and the Audit Committee, and reported to the control authorities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>3)&nbsp;<U>Consider
the Retained Earnings as of December&nbsp;31, 2020, which reported a negative balance of AR$ 5,715,155,909. Proposal to: 1) Absorb the
amount of AR$ 5,715,155,909 from the &ldquo;Facultative Reserve to maintain the capital investments level and the current level of solvency
of the Company&rdquo;. 2) It is also proposed to reclassify the amount of AR$ 12,196,593,929 from the &ldquo;Facultative Reserve to maintain
the capital investments level and the current level of solvency of the Company&rdquo; (which will amount, as a consequence, to AR$ 46,858,951,409)
by charging that amount to the account &ldquo;Contributed Surplus&rdquo;, which, after giving effect to such reclassification, will total
AR$ 240,753,599,815.</U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">The
Shareholders&rsquo; Meeting approved the proposal of the Board of Directors adjusted to March&nbsp;31, 2021, using the National Consumer
Price Index (National CPI) published on April&nbsp;15, 2021, in accordance with the provisions of CNV Resolution No.&nbsp;777/2018, regarding
Retained Earnings as of December&nbsp;31, 2020, which reported a&nbsp;negative balance of AR$ 6,455,431,747, to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">1.
Absorb the amount of&nbsp;AR$ 6,455,431,747 from the &ldquo;Facultative Reserve to maintain the capital investments level and the current
level of solvency of the Company.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">2.
Regarding the amount of&nbsp;AR$ 13,776,401,012, reclassify it from the &ldquo;Facultative Reserve to maintain the capital investments
level and the current level of solvency of the Company&rdquo; (which will amount, as a consequence, to&nbsp;AR$ 52,928,523,270), by charging
that amount to the account &ldquo;Contributed Surplus&rdquo;, which , after giving effect to such reclassification, will total&nbsp;AR$
271,938,063,640.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>4)<U>&nbsp;Consider
the performance of Members of the Board of Directors and Members of the Supervisory Committee who have served during Fiscal Year 2020</U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">The
performance of all of the Members of the Board of Directors and Members of the Supervisory Committee who served during fiscal year 2020
was approved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>5)<U>&nbsp;Consider
the compensation for the Members of the Board of Directors (allocated amount: AR$ 252,586,941) for the fiscal year ended December&nbsp;31,
2020, which reported a computable loss according to the terms of the CNV Rules</U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">For
those directors that served from April&nbsp;28, 2020 through December&nbsp;31 2020, a total compensation of AR$ 252,586,941 was approved,
to be distributed among the independent directors, or those directors that performed technical and administrative tasks or performed
special assignments, in the manner to be agreed by the Board of Directors, taking into consideration the advance payments that they received.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>6)<U>&nbsp;Authorize
the Board of Directors to pay advances on fees to those Directors who during Fiscal Year 2021 serve as independent directors or perform
technical-administrative tasks or perform special assignments (within the </U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I><U>guidelines
determined by the General Corporations Law and contingent upon what the Shareholders&rsquo; Meeting resolves)</U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">The
Board of Directors was authorized to pay advances on fees to those Directors of Telecom Argentina who during Fiscal Year 2021 serve as
independent directors or perform technical-administrative tasks or perform special assignments, within the guidelines determined by the
General Corporations Law and contingent upon what the Shareholders&rsquo; Meeting resolves.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>7)<U>&nbsp;Consider
the compensation to Members of the Supervisory Committee for their services during Fiscal Year 2020. Proposal to pay the total amount
of AR$ 13,904,904</U></I></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">A
total compensation of AR$ 13,904,904 for the Members of the Supervisory Committee of Telecom Argentina was approved for their services
provided from April 28, 2020 to December 31, 2020, taking into consideration the advance payments that they received. This total amount
shall be equally distributed among the five regular Members as determined by the Supervisory Committee, after allocating the proportional
amount to the member that represents the Supervisory Committee at the Executive Committee.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>8)&nbsp;<U>Authorize
the Board of Directors to pay advances on fees to those Members of the Supervisory Committee who serve during Fiscal Year 2021 (contingent
upon what the Shareholders&rsquo; Meeting resolves)</U></I></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">The
Board of Directors was authorized to pay advances on fees to those Members of the Supervisory Committee serving during Fiscal Year 2021,
contingent upon what the Shareholders&rsquo; Meeting resolves.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>9)<U>&nbsp;Determine
the number of regular and alternate Members of the Board of Directors to serve from the date of this Shareholders&rsquo; Meeting and
during three (3)&nbsp;fiscal years</U></I></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">The
number of regular Directors was set at eleven (11) and the number of alternate Directors at eleven (11). They shall serve for three (3)
fiscal years, i.e. for years 2021, 2022 and 2023, beginning on the date of their appointment and remaining in office until they are replaced
in accordance with the provisions of Article 257 of the General Corporations Law.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B><I>10)<U>&nbsp;Elect
regular Directors</U></I></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">The
following persons were elected as regular Directors: Carlos Alberto Moltini, Alejandro Alberto Urricelqui, Sebasti&aacute;n Bardengo,
Dami&aacute;n Fabio Cassino, Carlos Alejandro Harrison, Mart&iacute;n H&eacute;ctor D&rsquo;Ambrosio, Mariano Marcelo Ib&aacute;&ntilde;ez,
Germ&aacute;n Horacio Vidal, Luca Luciani, Baruki Luis Alberto Gonz&aacute;lez and Eduardo Enrique de Pedro.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mr. Carlos Alejandro Harrison, Mr. Mart&iacute;n
H&eacute;ctor D&rsquo;Ambrosio and Mr. Germ&aacute;n Horacio Vidal qualify as &ldquo;Independent&rdquo; directors in accordance with the
standards set forth in the <I>Comisi&oacute;n Nacional de Valores</I>&nbsp;(&ldquo;CNV&rdquo;) Rules and the U.S. Securities &amp; Exchange
Commission&rsquo;s Rules. Mr. Moltini, Mr. Urricelqui, Mr. Bardengo, Mr. Cassino, Mr. Ib&aacute;&ntilde;ez, Mr. Luciani and Mr. Gonz&aacute;lez
qualify as &ldquo;NON-Independent&rdquo; under CNV &acute;s Rules.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mr. Eduardo E. de Pedro qualifies as &ldquo;Independent&rdquo;
in accordance with CNV&acute;s Rules.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><B><I>11)&nbsp;<U>Elect alternate
Directors</U></I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The following persons were elected as alternate
Directors: Mar&iacute;a Lucila Romero, Sebasti&aacute;n Ricardo Frabosqui Diaz, Claudia Irene Ostergaard, Ignacio Jos&eacute; Mar&iacute;a
S&aacute;enz Valiente, Jos&eacute; Carlos Cura, Miguel Angel Gra&ntilde;a, Facundo Mart&iacute;n Goslino, Lucrecia Mar&iacute;a Delfina
Moreira Savino, Maria Constanza Martella, Carolina Susana Curzi and Juan Santiago Fraschina.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Ms. Mar&iacute;a Lucila Romero, Ms. Claudia Irene
Ostergaard, Mr. Sebasti&aacute;n Ricardo Frabosqui Diaz and Mr. Ignacio Jos&eacute; Mar&iacute;a S&aacute;enz Valiente will indistinctly
serve as alternates for Mr. Carlos Alberto Moltini, Mr. Alejandro Alberto Urricelqui, Mr. Sebasti&aacute;n Bardengo and Mr. Dami&aacute;n
Fabio Cassino. Mr. Jos&eacute; Carlos Cura and Mr. Miguel Angel Gra&ntilde;a will indistinctly serve as alternates for Mr. Carlos Alejandro
Harrison and Mr. Mart&iacute;n H&eacute;ctor D&rsquo;Ambrosio. Ms. Carolina Susana Curzi, Ms. Maria Constanza Martella, Ms. Lucrecia Mar&iacute;a
Delfina Moreira Savino and Mr. Facundo Mart&iacute;n Goslino, will indistinctly serve as alternates for Mr. Mariano Marcelo Ib&aacute;&ntilde;ez,
Mr. Germ&aacute;n Horacio Vidal, Mr. Luca Luciani and Mr. Baruki Luis Alberto Gonzalez. Mr. Juan Santiago Fraschina will serve as alternate
for Mr. Eduardo Enrique de Pedro.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mr. Jos&eacute; Carlos Cura and Mr. Miguel Angel
Gra&ntilde;a qualify as &ldquo;Independent&rdquo; directors in accordance with the standards set forth in the CNV&acute;s Rules and the
U.S. Securities &amp; Exchange Commission&rsquo;s Rules. Mr. Frabosqui Diaz, Mr. S&aacute;enz Valiente, Mr. Goslino, Ms. Romero, Ms. Ostergaard,
Ms. Moreira Savino, Ms. Martella and Ms. Curzi qualify as &ldquo;NON-Independent&rdquo; under CNV&acute;s Rules.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mr. Juan Santiago Fraschina qualifies as &ldquo;Independent&rdquo;
under CNV&acute;s Rules.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><B><I>12)<U>&nbsp;Elect five (5)&nbsp;regular
Members of the Supervisory Committee to serve during Fiscal Year 2021</U></I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The following persons were appointed as regular
Members of the Supervisory Committee: Pablo Andr&eacute;s Buey Fern&aacute;ndez, Pablo Gabriel San Mart&iacute;n, Alejandro H&eacute;ctor
Massa, Mar&iacute;a Ximena Dig&oacute;n and Saturnino Jorge Funes.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 12pt Arial, Helvetica, Sans-Serif">Ms. Mar&iacute;a Ximena Dig&oacute;n, Mr. Pablo Andr&eacute;s Buey Fern&aacute;ndez
and Mr. Saturnino Jorge Funes are lawyers, and Mr. Pablo Gabriel San Mart&iacute;n and Mr. Alejandro H&eacute;ctor Massa are certified
public accountants. They all qualify as &ldquo;Independent&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">members in accordance with the standard set forth
by the CNV&acute;s Rules.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Finally, it was informed that none of the proposed
members of the Supervisory Committee, the law firms they are members of or other members of such law firms have ever been Independent
Auditors of Telecom Argentina and shall not be proposed to serve in that capacity.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><B><I>13)<U>&nbsp;Determine the number
of alternate Members of the Supervisory Committee to serve during Fiscal Year 2021 and elect them</U></I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">It was resolved to appoint five (5) alternate Members,
and the following persons were elected: Javier Alegr&iacute;a, Rub&eacute;n Su&aacute;rez, Mat&iacute;as Alejandro Fredriks, Delfina Lynch
and Ona Celia Dimnik.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mr. Javier Alegr&iacute;a will serve as alternate
for Mr. Pablo Andr&eacute;s Buey Fern&aacute;ndez; Mr. Rub&eacute;n Su&aacute;rez will serve as alternate for Mr. Pablo Gabriel San Mart&iacute;n;
Mr. Mat&iacute;as Alejandro Fredriks will serve as alternate for Mr. Alejandro H&eacute;ctor Massa; and Ms. Delfina Lynch and Ms. Ona
Celia Dimnik will serve as alternates, indistinctly, for Ms. Mar&iacute;a Ximena Dig&oacute;n and Mr. Saturnino Jorge Funes.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mr. Javier Alegr&iacute;a, Mr. Mat&iacute;as Alejandro
Fredriks, Ms. Delfina Lynch and Ms. Ona Celia Dimnik are lawyers, and Mr. Rub&eacute;n Su&aacute;rez is a certified public accountant.
All of them qualify as &ldquo;Independent&rdquo; members in accordance with the standard set forth in the CNV&acute;s Rules.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">None of the proposed alternate members, the law
firms they are members of or other members of such law firms have ever been Independent Auditors of Telecom Argentina, and they shall
not be proposed to serve in that capacity.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><B><I>14)&nbsp;<U>Determine the compensation
of the Independent Auditors who served during Fiscal Year 2020</U></I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">A total compensation for audit services provided
by the Independent Auditors of the Financial Statements of Telecom Argentina for Fiscal Year 2020 was approved in the amount of AR$ 80,485,186
(not including VAT), of which AR$ 51,188,180 represented Financial Statements audit tasks, and AR$ 29,297,006 represented audit tasks
conducted with regards to the certification in compliance with Sarbanes Oxley Act Section&nbsp;404.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><B><I>15)<U>&nbsp;Appoint the Independent
Auditors of the financial statements for Fiscal Year 2021 and determine their compensation</U></I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&ldquo;Price Waterhouse&nbsp;&amp;
Co SRL&rdquo; was appointed as Independent Auditor of the Financial Statements of Telecom Argentina for the Fiscal Year ending December&nbsp;31,
2021.&nbsp;Alejandro Javier Rosa will serve as the regular certifying accountant, and Reinaldo Sergio Cravero and Ezequiel Luis Mirazon
will serve as his alternates </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">indistinctly.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">It was resolved that the compensation of the Independent
Auditors shall be determined by the Shareholders&rsquo; Meeting considering the financial documentation for Fiscal Year 2021, empowering
the Audit Committee to determine the terms and conditions of service delivery, and authorization was granted for the payment of advances
on fees to the Independent Auditors, in the amount that the Audit Committee deems reasonable.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: blue"><B><I>16)<U>&nbsp;Consider the budget
for the Audit Committee for Fiscal Year 2021 (AR$ 10,769,274)</U></I></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The budget for the operation of the Audit Committee
for Fiscal Year 2021 was set at the amount of AR$ 10,769,274.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>The Chairman of the Supervisory Committee of
Telecom Argentina, Dr. Pablo Buey Fern&aacute;ndez, certified compliance with the provisions of the Comisi&oacute;n Nacional de Valores&rsquo;
General Resolution No. 830/2020 and other legal and statutory regulations applicable to this Shareholders&rsquo; Meeting.</I></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>Ms. Luc&iacute;a Soutullo on behalf of the Comisi&oacute;n
Nacional de Valores and Certified Public Accountant Alejandro Romano on behalf of the Buenos Aires Stock Exchange participated in the
Meeting through the Cisco Webex teleconference system.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Telecom
    Argentina S.A.</B></FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.75pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>/s/Andrea
        V. Cerd&aacute;n</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Attorney
    in fact</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><U>ITEM 2.</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B><U><A NAME="ss_002"></A>TELECOM ARGENTINA S.A.</U></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><A NAME="ss_001"></A><B><U>COMPOSITION OF THE BOARD OF DIRECTORS, THE
SUPERVISORY COMMITTEE, MEMBERS OF THE AUDIT COMMITTEE AND THE INDEPENDENT AUDITORS</U></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B><U>AS OF APRIL 28, 2021</U></B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">I)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">Pursuant to the resolutions adopted by the Ordinary and
Extraordinary General Shareholders&rsquo; Meeting held on April 28, 2021 and by the Board of Directors on its meeting held on the same
day, the composition of the Board of Directors of Telecom Argentina is as follows:</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><U>BOARD OF DIRECTORS</U>:
<U>Chairman:</U></B> Mr. Carlos Alberto Moltini. <B><U>Vice-Chairman:</U></B> Mr. Mariano Marcelo Ib&aacute;&ntilde;ez <B><U>Directors:</U></B>
Mr. Sebasti&aacute;n Bardengo, Mr. Alejandro Alberto Urricelqui, Mr. Dami&aacute;n Fabio Cassino, Mr. Carlos Alejandro Harrison, Mr. Mart&iacute;n
H&eacute;ctor D&acute;Ambrosio, Mr. Germ&aacute;n Horacio Vidal, Mr. Luca Luciani, Mr. Baruki Luis Alberto Gonz&aacute;lez and Mr. Eduardo
Enrique de Pedro. <B><U>Alternate Directors:</U></B> Ms. Mar&iacute;a Lucila Romero, Mr. Sebasti&aacute;n Ricardo Frabosqui D&iacute;az,
Ms. Claudia Irene Ostergaard, Mr. Ignacio Jos&eacute; S&aacute;enz Valiente, Mr. Jos&eacute; Carlos Cura, Mr. Miguel &Aacute;ngel Gra&ntilde;a,
Mr. Facundo Mart&iacute;n Goslino, Ms. Lucrecia Mar&iacute;a Delfina Moreira Savino, Ms. Mar&iacute;a Constanza Martella, Ms. Carolina
Susana Curzi and Mr. Juan Santiago Fraschina.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white">The members of the Board
of Directors will hold office until the end of Fiscal Year 2023, and will remain in their positions until they are replaced pursuant to
article 257 of the General Corporations Law.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">II)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">Pursuant to the resolutions adopted by the Ordinary and
Extraordinary General Shareholders&rsquo; Meeting held on April 28, 2021, the composition of the Supervisory Committee is as follows:</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.2pt 0pt 0; text-align: justify"><B><U>SUPERVISORY COMMITTEE</U></B>:
<B><U>Regular Members</U>:</B> Mr. Pablo Andr&eacute;s Buey Fern&aacute;ndez, Mr. Pablo Gabriel San Mart&iacute;n, Mr. Alejandro H&eacute;ctor
Massa, Ms. Mar&iacute;a Ximena Dig&oacute;n and Mr. Saturnino Jorge Funes. <B><U>Alternate Members</U>:</B> Mr. Javier Alegr&iacute;a,
Mr. Rub&eacute;n Su&aacute;rez, Mr. Mat&iacute;as Alejandro Fredriks, Ms. Delfina Lynch and Ms. Ona Celia Dimnik.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.2pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white">The members of the Supervisory
Committee will hold office for 1 year.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">III)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">Pursuant to the resolutions adopted by the Board of Directors
on its meeting held on April 28, 2021, the composition of the Audit Committee is as follows:</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.2pt 0pt 0; text-align: justify"><B><U>AUDIT COMMITTEE:</U></B> Mr. Carlos
Alejandro Harrison (&ldquo;financial expert&rdquo; of the Audit Committee); Mr. Mart&iacute;n H&eacute;ctor D&acute;Ambrosio and Mr. Germ&aacute;n
Horacio Vidal.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.2pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">IV)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">Pursuant to the resolutions adopted by the Ordinary and
Extraordinary General Shareholders&rsquo; Meeting held on April 28, 2021, Price Waterhouse &amp; Co S.R.L. was designated as Independent
Auditor of the Financial Statements for Fiscal Year 2021, acting Mr. Alejandro Javier Rosa as regular certifying accountant, and Mr. Sergio
Reinaldo Cravero and Ezequiel Luis Miraz&oacute;n as his alternates.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 20pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 20pt">&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Telecom Argentina S.A.</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Date:</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">April 29, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">/s/ Fernando J. Balmaceda</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 27%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 9%"><FONT STYLE="font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="width: 41%"><FONT STYLE="font-size: 11pt">Fernando J. Balmaceda</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">Responsible for Market Relations</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
