<SEC-DOCUMENT>0001104659-22-036414.txt : 20220322
<SEC-HEADER>0001104659-22-036414.hdr.sgml : 20220322
<ACCEPTANCE-DATETIME>20220322115551
ACCESSION NUMBER:		0001104659-22-036414
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220322
FILED AS OF DATE:		20220322
DATE AS OF CHANGE:		20220322

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:		22758008

	BUSINESS ADDRESS:	
		STREET 1:		GENERAL HORNOS, NO. 690
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1272ACL
		BUSINESS PHONE:		54-11-4968-4000

	MAIL ADDRESS:	
		STREET 1:		GENERAL HORNOS, NO. 690
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1272ACL

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELECOM ARGENTINA STET FRANCE TELECOM SA
		DATE OF NAME CHANGE:	19950809
</SEC-HEADER>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm228712d5_6k.htm
<DESCRIPTION>FORM 6-K
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>&nbsp;</P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></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; text-align: center">For the month of March&nbsp;2022</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; text-align: center">Commission File Number: 001-13464</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&rsquo;s name into English)</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; text-align: center"><B>General Hornos, No.&nbsp;690, 1272</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Buenos Aires, Argentina</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</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; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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 STYLE="padding-left: 1.5in; width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;40-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the registrant is submitting
the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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 STYLE="padding-left: 1.875in; width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="padding-left: 0.375in; width: 50%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the registrant is submitting
the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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 STYLE="padding-left: 1.875in; width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="padding-left: 0.375in; width: 50%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Telecom
</B></FONT><B>Argentina S.A.</B></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; text-align: center">TABLE OF CONTENTS</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"><B><U>Item</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Call
                                            to Ordinary and Extraordinary General Shareholders&rsquo; Meeting for April&nbsp;27, 2022,
                                            proposals of the Board of Directors to the Shareholders&rsquo; Meeting regarding the items
                                            in the Agenda and Minutes of the Audit Committee No.&nbsp;258</I></B></FONT></A></TD></TR></TABLE>

<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"></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Buenos Aires, March&nbsp;22, 2022</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"><U>SECURITIES AND EXCHANGE COMMISSION</U></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">Dear Sirs,</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"><B><I><U><A NAME="a_001"></A>RE.: Documentation of the Ordinary and Extraordinary General
Shareholders&rsquo; Meeting summoned for April&nbsp;27, 2022</U></I></B></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">I am writing to you as&nbsp;<B>Responsible for Market Relations&nbsp;</B>of&nbsp;<B>Telecom
Argentina S.A.</B>&nbsp;(&ldquo;Telecom Argentina&rdquo; or the &ldquo;Company&rdquo;) to submit the following documentation of the referred
Shareholders&rsquo; Meeting summoned for April&nbsp;27, 2022.</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">We hereby attach:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The call to an Ordinary and Extraordinary General Shareholders&rsquo; Meeting.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The proposals of the Board of Directors to the Shareholders&rsquo; Meeting regarding the items in the Agenda.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">c)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Minutes of the Audit Committee N&deg; 258.</FONT></TD></TR>
  </TABLE>
<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">Sincerely,</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; text-align: center"><B>Fernando J. Balmaceda</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Responsible for Market Relations</B></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"></P>

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<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"><B><U>FREE TRANSLATION</U></B></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; text-align: center"><B><U>CALL FOR AN ORDINARY AND EXTRAORDINARY GENERAL
SHAREHOLDERS&rsquo; MEETING OF TELECOM ARGENTINA S.A.</U></B></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">The Shareholders of Telecom Argentina S.A. (&ldquo;Telecom Argentina&rdquo;
or the &ldquo;Company&rdquo;) are summoned to an <B>Ordinary and Extraordinary General Shareholders&rsquo; Meeting </B>to be held on <B>April&nbsp;27,
2022</B>, at 11 a.m.&nbsp;on the first call, and at 12 p.m.&nbsp;on the second call to deliberate upon the agenda of the ordinary Shareholders&acute;
Meeting, to be held remotely according to the provisions of the General Resolution No.&nbsp;830/2020 of the Comisi&oacute;n Nacional de
Valores, in order to consider the following items:</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; text-align: center"><B><U>AGENDA</U></B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">1)</TD><TD STYLE="text-align: justify">Holding of the Shareholders&acute; Meeting remotely.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">2)</TD><TD STYLE="text-align: justify">Appointment of two shareholders to sign the Minutes of the Meeting.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3)</FONT></TD><TD STYLE="text-align: left">Consider the documentation required by Law No.&nbsp;19,550 section
234 subsection 1, the <I>Comisi&oacute;n Nacional de Valores </I>(CNV) Rules, and the <I>Bolsas y Mercados Argentinos </I>(&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-third Fiscal Year, ended December&nbsp;31, 2021 (&lsquo;Fiscal Year 2021&rsquo;).</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4)</FONT></TD><TD STYLE="text-align: left">Consider the Retained Earnings as of December&nbsp;31, 2021,
which reported a positive balance of AR$ 8,664,580,251. Proposal to: i) Allocate AR$433,229,013 to establish the Legal Reserve; ii) Allocate
AR$8,231,351,238 to the &ldquo;Facultative Reserve to maintain the capital investments level and the current level of solvency of the
Company&rdquo;. It is also proposed to reclassify the amount of AR$16,212,018,395 from the account &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$54,433,878,894)
by charging that amount to the account &ldquo;Contributed Surplus&rdquo;, which, after giving effect to such reclassification, will total
AR$347,907,102,480. Granting the Board of Directors the authority to totally or partially withdraw the &ldquo;Facultative Reserve to
maintain the capital investments level and the current level of solvency of the Company&rdquo; and to distribute dividends in cash or
in kind or any combination of both options.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5)</FONT></TD><TD STYLE="text-align: left">Consider the performance of Members of the Board of Directors
and Members of the Supervisory Committee who have served during Fiscal Year 2021.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6)</FONT></TD><TD STYLE="text-align: left">Consider the compensation for the Members of the Board of Directors
corresponding to the fiscal year ended December&nbsp;31, 2021 of AR$ 576,097,511 (total compensation), in excess of AR$ 135,725,074 over
the 5% limit provided by Section&nbsp;261 of Law N&deg; 19,550 and its related regulations, taking into account that no proposal of dividends
distribution has been made.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7)</FONT></TD><TD STYLE="text-align: left">Authorize the Board of Directors to pay advances on fees to
those Directors who during fiscal year to end December&nbsp;31, 2022 (Fiscal Year 2022) 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).</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8)</FONT></TD><TD STYLE="text-align: left">Consider the compensation to Members of the Supervisory Committee
corresponding to the fiscal year ended December&nbsp;31, 2021. Proposal to pay the total amount of AR$30,253,985.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9)</FONT></TD><TD STYLE="text-align: left">Authorize the Board of Directors to pay advances on fees to
those Members of the Supervisory Committee who serve during Fiscal Year 2022 (contingent upon what the Shareholders&acute; Meeting resolves).</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10)</FONT></TD><TD STYLE="text-align: justify">Elect five (5)&nbsp;regular Members of the Supervisory Committee
to serve during Fiscal Year 2022.</TD>
</TR></TABLE>

<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"></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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11)</FONT></TD><TD STYLE="text-align: justify">Determine the number of alternate Members of the Supervisory
Committee to serve during Fiscal Year 2022 and elect them.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12)</FONT></TD><TD STYLE="text-align: justify">Determine the compensation of the Independent Auditors who served
during Fiscal Year 2021.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13)</FONT></TD><TD STYLE="text-align: justify">Appoint the Independent Auditors of the financial statements
for Fiscal Year 2022 and determine their compensation.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14)</FONT></TD><TD STYLE="text-align: justify">Consider the budget for the Audit Committee for Fiscal Year
2022 (AR$ 16,166,020).</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">15)</TD><TD STYLE="text-align: left">Consideration of the 5-year extension of the term of validity
of the Medium Term Note Program for the issuance of simple Notes for up to a maximum outstanding amount of US$ 3,000,000,000 (or its
equivalent in other currencies or value units) authorized by the Comisi&oacute;n Nacional de Valores by Resolution N&deg; 19,481 dated
as of April&nbsp;19, 2018 and certain amendments to it authorized by Resolution N&deg; 21,603 dated as of January&nbsp;27, 2022 (the
 &ldquo;Program&rdquo; or the &ldquo;Global Program&rdquo;).</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">16)</TD><TD STYLE="text-align: left">Consider granting to the Board of Directors of broad powers,
according to the approval granted by the Comisi&oacute;n Nacional de Valores and its amendments in the terms resolved by the Ordinary
Shareholders&acute; Meeting dated December&nbsp;28, 2017 (&ldquo;the Shareholders&rsquo; Meeting&rdquo;) and the extension of its&rsquo;
term of validity resolved by this Shareholders&rsquo; Meeting, to determine and modify the terms and conditions of the Program within
the maximum outstanding amount authorized by the Shareholders&rsquo; Meeting, as well as to establish the timing of issuance and re-issuance
of the corresponding Notes to each series or class to be issued under it and all of the conditions of issuance and re-issuance, within
the maximum amount and the terms of amortization set by the Shareholders&rsquo; Meeting, including, without limitation to, law and applicable
jurisdiction; date and issuance currency; nominal value, price, interest rate, form and conditions of placement and payment conditions;
issuance in cartulary form or book-entry of one or more classes or series; characteristics of the titles or representative certificates
of the notes; use of proceeds; election of the Trustee, if there is any, and the agents of any type that correspond, including registration,
placement, calculation of payment of each series or class, if there were, and to prepare, negotiate, approve, subscribe and submit all
the contracts and documentation necessary to implement the Program and the series or classes under it; to request to the agencies and
respective markets from the country and from abroad that the Board of Directors determine the authorizations of the public offer and
pricing or listing and negotiation of the Program and of one or more of the classes or series of the Notes that will be issued within
the framework of it, and to appoint attorneys to act in the files related to the decisions adopted by the Shareholders&rsquo; Meeting
with respect to the Program. Authorization for the Board of Directors to sub-delegate to some of their members and/or officials of the
managerial line, the powers delegated by the Shareholders&rsquo; Meeting according to what it is provided by Section&nbsp;1, article
c) from Chapter II, Title II and Section&nbsp;44, article b) from Chapter V, Title II from the Rules&nbsp;of the Comisi&oacute;n Nacional
de Valores (New Text 2013).</TD>
</TR></TABLE>

<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 0pt 0.5in; text-align: right; text-indent: -0.5in"><B>THE BOARD OF DIRECTORS</B></P>

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Note
1:</U></I></B></FONT><I>&nbsp;Items 1 and 4 on the Agenda will be addressed in accordance with the rules&nbsp;applicable to the extraordinary
meeting, and the rest of the items will be addressed in accordance with the rules&nbsp;applicable to the ordinary meeting.</I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Note
2:</U></I></B></FONT><I>&nbsp;Within the regulatory deadline, the documents related to the Shareholders&acute; Meeting may be consulted
on the Comisi&oacute;n Nacional de Valores&acute; website and on Telecom Argentina&rsquo;s website:&nbsp;www.telecom.com.ar.</I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Note
3:</U></I></B></FONT><I>&nbsp;Pursuant to the provisions of CNV Rules&nbsp;in section 22 of Chapter II, Title II, at the time of registration
to take part in the Shareholders&acute; Meeting and at the time of attending the Shareholders&acute; Meeting, shareholders must supply
all the details of the holders and their representatives. Legal entities and other legal structures must provide the information and
deliver the documentation as required by the CNV Rules&nbsp;in sections 24, 25 and 26 of Chapter II, Title II.</I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Note
4:</U></I></B></FONT><I>&nbsp;Those registered to participate in the Shareholders&rsquo; Meeting as custodians or administrators of any
third party shareholdings are reminded of the need to fulfill the requirements of section 9, Chapter II, Title II of the CNV Rules, to
be able to cast a vote in a divergent manner.</I></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"></P>

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<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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Note
5:</U></I></B></FONT><I> Shareholders are requested to be present at least 15 minutes prior to the scheduled time of the
Shareholders&acute; Meeting.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Note
6: </U></I></B></FONT><I>(i)The Shareholders&rsquo; Meeting will be held remotely, complying with the precautions provided by the General
Resolution No.&nbsp;830/2020 of the Comisi&oacute;n Nacional de Valores or the rule&nbsp;that may substitute said Resolution in the future,
by using the Cisco Webex system, which allows the simultaneous transmission of sound, images and words throughout the entire Shareholders&rsquo;
Meeting; (ii)&nbsp;Shareholders must communicate their attendance to the Shareholders&rsquo; Meeting to the email address: AsuntosSocietarios@teco.com.ar
until April&nbsp;21, 2022, at 5:00 p.m.&nbsp;The holders of Class&nbsp;B and Class&nbsp;C Shares must attach to their communication the
respective book-entry shareholding certificates issued for this purpose by Caja de Valores S.A.; (iii)&nbsp;The link and the instructions
to access the system, together with the indications about the Shareholders&rsquo; Meeting, will be sent to the shareholders who communicate
their attendance to the Shareholders&rsquo; Meeting, to the email address indicated in their attendance confirmation, in accordance with
item (ii); (iv)&nbsp;Shareholders must provide the following information regarding the holder of the shares: name and surname or full
corporate name; type and number of identity card or registration data with precise identification of the specific registry and its jurisdiction;
address, with indication of its kind. In addition, they must provide the same information regarding the representative(s)&nbsp;of the
holder of the shares that will attend the Shareholders&rsquo; Meeting; (v)&nbsp;The Shareholders taking part at the Shareholders&rsquo;
Meeting through attorneys-in-fact must send to the Company five (5)&nbsp;business days before the Shareholders&rsquo; Meeting the corresponding
power-of-attorney , which shall be duly authenticated; (vi)&nbsp;At the time of voting, each shareholder will be required to vote on each
item, and each vote will be cast through the Cisco Webex system which enables the simultaneous transmission of sound, images and words;
(vii)&nbsp;As the First item on the Agenda of the Shareholders&rsquo; Meeting, the holding of the meeting remotely will be subject to
consideration, with the majority required for an amendment to the bylaws.</I></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"></P>

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<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; text-align: center"><B><U>PROPOSALS OF THE BOARD OF DIRECTORS TO THE
GENERAL ORDINARY AND EXTRAORDINARY SHAREHOLDERS&rsquo; MEETING</U></B></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"><B><U>Proposal for the First Item on the Agenda:</U></B></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">The proposal to the Shareholders&rsquo; Meeting is that&nbsp;<B><I>&ldquo;the
holding of the Shareholders&acute; Meeting remotely be approved according to Resolution N&deg; 830/2020 of the Comisi&oacute;n Nacional
de Valores&rdquo;.</I></B></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"><B><U>Proposal for the Second Item on the Agenda:</U></B></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">The proposal to the Shareholders&rsquo; Meeting is that&nbsp;<B><I>&ldquo;the
Shareholders propose the persons that will sign the Meeting Minutes.&rdquo;</I></B></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"><B><U>Proposal for the Third Item on the Agenda:</U></B></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">The proposal to the Shareholders&rsquo; Meeting is to:&nbsp;<B><I>&ldquo;Approve
Telecom Argentina&rsquo;s documentation for Fiscal Year 2021 required by Section&nbsp;234 subsection 1 of Law N&deg;19,550 and CNV Rules&nbsp;Title
IV Chapter I article 1 (N.T.&nbsp;2013) :&nbsp;the Board Report and its Annex I (Report on the Corporate Governance Code); the Informative
Briefing; the Financial Statements and all their accompanying Notes and Annexes; the information of the Financial Statements for the period
ended December&nbsp;31, 2021 required by CNV Rules&nbsp;and the BYMA Listing Rules&nbsp;section 62; the Report from the Supervisory Committee;
the Annual Report submitted by the Audit Committee, and the rest of the documentation for the fiscal year, including the English language
documentation required by the Securities&nbsp;&amp; Exchange Commission, as said documentation has been submitted and approved by the
Board of Directors, the Supervisory Committee and the Audit Committee, respectively, to the extent of their respective competencies.&rdquo;</I></B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Proposal
for the Fourth Item on the Agenda</U></B></FONT>:</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">Regarding the Retained Earnings as of December&nbsp;31, 2021, reporting
a positive balance of AR$ 8,664,580,251, the Board proposes to the Shareholders&rsquo; Meeting to<B><I>: &ldquo;i) Allocate AR$433,229,013
to establish the Legal Reserve; ii) Allocate AR$8,231,351,238 to the &ldquo;Facultative Reserve to maintain the capital investments level
and the current level of solvency of the Company&rdquo;. It is also proposed to reclassify the amount of AR$16,212,018,395 from the account
 &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$54,433,878,894) by charging that amount to the account &ldquo;Contributed Surplus&rdquo;, which, after
giving effect to such reclassification, will total AR$347,907,102,480.</I></B></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">We note that this proposal regarding the Retained Earnings of Fiscal
Year 2021 sets forth amounts in constant currency as of December&nbsp;31, 2021.</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">It is also proposed that <B><I>&ldquo;the Shareholders in the Shareholders&acute;
Meeting resolve upon Granting to the Board of Directors the authority to totally or partially withdraw the &ldquo;Facultative Reserve
to maintain the capital investments level and the current level of solvency of the Company&rdquo; and to distribute dividends in cash
or in kind or any combination of both options.&rdquo;</I></B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Proposal
for the Fifth Item on the Agenda</U></B></FONT>:</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"><B><I>No proposal is formulated on this item, for which the Shareholders&rsquo;
Meeting will consider the performance of the Members of the Board of Directors and the Members of the Supervisory Committee of Telecom
Argentina who have served during Fiscal Year 2021.</I></B></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"><B><U>Proposal for the Sixth Item on the Agenda:</U></B></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">The proposal to the Shareholders&rsquo; Meeting is to:&nbsp;<B><I>&ldquo;Approve
a total compensation of AR$576,097,511 to the Members of the Board of Directors of Telecom Argentina who served since January&nbsp;1,
2021 up to December&nbsp;31, 2021 to be distributed, in the manner that the Board of Directors resolves, according to the General Corporations
Law.&rdquo;</I></B></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"></P>

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<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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Proposal
for the Seventh Item on the Agenda</U></B></FONT>:</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">The Board proposes to:<B><I>&nbsp;&ldquo;Authorize the Board of Directors
to pay advances on fees to those Directors of Telecom Argentina that during Fiscal Year 2022 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).&rdquo;</I></B></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"><B><U>Proposal for the Eighth Item on the Agenda:</U></B></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">The Board proposes to the Shareholders Meeting to:&nbsp;<B><I>&ldquo;Approve
a total compensation of AR$30,253,985 for the Supervisory Committee of Telecom Argentina who served since January&nbsp;1, 2021 up to December&nbsp;31,
2021, to be equally distributed among the five regular Members of said Committee, in the manner determined by the Supervisory Committee,
after the portion corresponding to the Member that represents said Committee before the Executive Committee is allocated.&rdquo;</I></B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Proposal
for the Ninth Item on the Agenda</U></B></FONT>:</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">The proposal is made to:<B><I>&nbsp;&ldquo;Authorize the Board of Directors
to pay advances on fees to those Members of the Supervisory Committee of Telecom Argentina who serve during Fiscal Year 2022, contingent
upon what the Shareholders&rsquo; Meeting resolves.&rdquo;</I></B></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"><B><U>Proposal for Tenth Item on the Agenda:</U></B></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"><B><I>The Board abstains from making a proposal regarding the persons
to be designated as regular Members of the Supervisory Committee. The Shareholders nominating Members of said Committee are reminded of
the provisions of Law 26,831 section 79: &lsquo;For publicly listed companies per shares or debt negotiable instruments, all Members of
the Supervisory Committee shall qualify as independent,&rsquo; and therefore, they are required to report to the Shareholders&acute; Meeting
if they qualify as &ldquo;independent&rdquo; in accordance with the standard specified by the Comisi&oacute;n Nacional de Valores&rsquo;
Rules.</I></B></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"><B><U>Proposal for the Eleventh Item on the Agenda:</U></B></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">The Board proposes to the Shareholders Meeting to:&nbsp;<B><I>&ldquo;Determine
that the number of Alternate Members of the Supervisory Committee to serve during Fiscal Year 2022 should be five (5)&nbsp;members.&rdquo;</I></B></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"><B><I>The Board abstains from making a proposal regarding the persons
to be designated as Alternate Members of the Supervisory Committee.</I></B></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"><B><U>Proposal for Twelfth Item on the Agenda:</U></B></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">The Board proposes to the Shareholders to:<B><I>&nbsp;&ldquo;Determine
the compensation for the audit services provided by the Independent Auditors of the Financial Statements of Telecom Argentina for Fiscal
Year 2021 at the amount of AR$121,917,003 (not including VAT), of which AR$88,987,527 correspond to audit tasks of the Financial Statements,
and AR$32,929,476 for the audit activities conducted in connection with the certification under Section&nbsp;404 of Sarbanes- Oxley Act.&rdquo;</I></B></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"><B><U>Proposal for the Thirteenth Item on the Agenda:</U></B></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">The proposal to the Shareholders&rsquo; Meeting is to:&nbsp;<B><I>&ldquo;Appoint
the firm &ldquo;Price Waterhouse&amp;Co. S.R.L.&rdquo; as the Independent Auditors of the financial statements of Telecom Argentina for
Fiscal Year 2022.&rdquo; If this proposal is approved, Mr.&nbsp;Alejandro Javier Rosa would serve as the regular certifying accountant,
and Mr.&nbsp;Reinaldo Sergio Cravero and Mr.&nbsp;Ezequiel Luis Miraz&oacute;n would serve indistinctly as alternates. Furthermore, it
is proposed that: &ldquo;The compensation of the designated Independent Auditors be determined by the Shareholders&acute; Meeting considering
the financial documentation for Fiscal Year 2022, delegating powers to the Audit Committee to determine the method of service delivery
and to make advance payments on fees.&rdquo;</I></B></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"></P>

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<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"><B><U>Proposal for the Fourteenth Item on the Agenda:</U></B></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">The proposal to the Shareholders&rsquo; Meeting is that:<B><I>&nbsp;&ldquo;In
accordance with the estimate made by the Audit Committee, the budget for the functioning of said Committee for Fiscal Year 2022 be established
at the amount of AR$16,166,020&rdquo;.</I></B></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"><B><U>Proposal for the Fifteenth Item on the Agenda:</U></B></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">The proposal to the Shareholders&rsquo; Meeting is to <B><I>&ldquo;approve
the 5-year extension of the term of validity of the Medium Term Note Program for the issuance of simple Notes for up to a maximum outstanding
amount of US$ 3,000,000,000 (or its equivalent in other currencies or value units) authorized by the Comisi&oacute;n Nacional de Valores
by Resolution N&deg; 19,481 dated as of April&nbsp;19, 2018 and certain amendments to it authorized by Resolution N&deg; 21,603 dated
as of January&nbsp;27, 2022.</I></B></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"><B><U>Proposal for the Sixteenth Item on the Agenda:</U></B></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">The proposal to the Shareholders&rsquo; Meeting is to <B><I>&ldquo;approve
the delegation into the Board of Directors of broad powers, according to the approval granted by the Comisi&oacute;n Nacional de Valores
and its amendments in the terms resolved by the Shareholders&acute; Meeting and the extension of its&rsquo; term of validity resolved
by this Shareholders&rsquo; Meeting, to determine and modify the terms and conditions of the Program as detailed in the item of the Agenda.</I></B></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"></P>

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

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<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; text-align: center"><B><U>AUDIT COMMITTEE</U></B></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; text-align: center"><B><U>MEETING MINUTES No. 258</U></B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD><B>MEMBERS IN ATTENDANCE:</B></TD><TD STYLE="text-align: justify"><B>Martin Hector D&rsquo;Ambrosio, Carlos Alejandro Harrison and German
                                  Horacio Vidal</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="width: 23%"><B>SECRETARY:</B></TD><TD STYLE="text-align: justify; width: 77%"><B>H&eacute;ctor Daniel Cazzasa</B></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top">
<TD><B>EXTERNAL ADVISOR:</B></TD><TD STYLE="text-align: justify"><B>Armando F. Ricci</B></TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top">
<TD><B>OTHER ATTENDEES:</B></TD><TD STYLE="text-align: justify"><B>Alejandro Miralles</B></TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify"><B>On behalf of the Supervisory Committee:</B></TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify"><B>Ximena Digon and Pablo San Martin</B></TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-size: 10pt"><B>DATE OF MEETING:</B></FONT></TD><TD STYLE="text-align: justify"><B>March 16, 2022 &ndash; 09:30
                                            a.m.</B></TD></TR>
                                                                                                                                      </TABLE>

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

<P STYLE="border-bottom: Black 1pt solid; 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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify"><B>OPINION ON THE PROPOSALS THAT THE BOARD
                                            INTENDS TO SUBMIT TO THE ANNUAL ORDINARY SHAREHOLDERS&rsquo; MEETING:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">Opinion on the proposal for Board of
                                            Directors&rsquo; fees for fiscal year 2021 and advance fee payments to Directors serving
                                            in fiscal year 2022;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">Opinion on the proposal for Independent
                                            Auditors&rsquo; fees for fiscal year 2021;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">Opinion on the proposal to appoint Independent
                                            Auditors for fiscal year 2022;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">Expenses of the Audit Committee &mdash;
                                            2021 Report and 2022 Budget.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The Chairman states that
the Board of Directors of the Company, at its meeting No.&nbsp;433&nbsp;held on March&nbsp;9, 2022, decided to request the opinion of
the Audit Committee, in accordance with section 110, subsections a) and e) of Law 26,831 and Section&nbsp;10A of the U.S. Securities
Exchange Act, on certain proposals that the Board of Directors intends to submit for the consideration of the Annual General Ordinary
Shareholders&rsquo; Meeting that will consider the Fiscal Year ended December&nbsp;31, 2021.</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"></P>

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<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 0pt 0.25in; text-align: justify; text-indent: -0.25in">For the sake
of better dealing with the proposals on which the Board asks for an opinion of the Audit Committee, a summary is included below:</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; text-align: justify">1) The proposal to allocate to the Members of
the Board of Directors of Telecom Argentina S.A. who have served during Fiscal Year 2021 (from January&nbsp;1, 2021 to December&nbsp;31,
2021) a total compensation of&nbsp;<B>AR$ 576,097,511</B>, to be distributed in the manner to be agreed in due course. In this regard,
the proposed amount represents <B>6.54% </B>of the computable income for the year 2021, calculated in accordance with the CNV regulations
in force. It is also proposed that the Board of Directors be delegated the powers to distribute said amount among its Members and be
authorized to make advance payments of Directors&rsquo; fees to the Directors that during fiscal year 2022 serve as independent directors
or conduct technical and administrative tasks or serve on special committees, contingent upon the resolution to be made by the Shareholders&rsquo;
Meeting that considers the Fiscal Year ending December&nbsp;31, 2022, as long as the provisions of the General Corporations Law No.&nbsp;19,550
and other applicable regulations are complied with for the abovementioned cases. Said amount includes compensation for technical and
administrative tasks performed.</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; text-align: justify">2) The proposal to pay Price Waterhouse&nbsp;&amp;
Co. S.R.L. (&ldquo;PwC&rdquo;) for its services as Independent Auditors of Telecom Argentina S.A.&rsquo;s financial statements for Fiscal
Year 2021, the amount of&nbsp;<B>AR$ 121,917,003</B>&nbsp;(which does not include VAT), broken down into&nbsp;<B>AR$ 88,987,527</B>&nbsp;for
financial statements audit tasks, and&nbsp;<B>AR$ 32,929,476</B>&nbsp;for audit tasks related to the certification under Section&nbsp;404
of the Sarbanes Oxley Act.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">3) The proposal to appoint
Price Waterhouse&nbsp;&amp; Co. S.R.L. as Independent Auditors of Telecom Argentina&rsquo;s financial statements for the Fiscal Year
ending December&nbsp;31, 2022, with Alejandro Javier ROSA acting as the regular certifying accountant and Reinaldo Sergio CRAVERO and
Ezequiel L. MIRAZON as his alternates.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">4) The Audit Committee
has also been asked to report the amount of expenses that was required for its functioning, regulatory update and training activities
during Fiscal Year 2021 to be reported to the Shareholders&rsquo; Meeting, and to perform an evaluation of the resources it considers
necessary to carry out its duties during Fiscal Year 2022, in order to request the Shareholders&rsquo; Meeting to approve the respective
budget.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>I. OPINION ON THE PROPOSAL
FOR BOARD OF DIRECTORS&rsquo; FEES FOR FISCAL YEAR 2021 AND ADVANCE FEE PAYMENTS TO DIRECTORS SERVING IN FISCAL YEAR 2022</B></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-top: 0pt; margin-bottom: 0pt; text-align: justify">The proposal is to allocate
to the Directors of Telecom Argentina S.A. who served during the Fiscal Year ended December&nbsp;31, 2021 a total compensation of&nbsp;<B>AR$
576,097,511</B>, and it is proposed to the Shareholders&rsquo; Meeting to delegate to the Board of Directors the authorization to distribute
such amount among Board members. The aforementioned amount includes the fees for those members who are independent directors, those who
are under employment, and those who have performed technical and administrative tasks or have served on special committees.</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 0pt 0.25in; text-align: justify; text-indent: -0.25in">In order to
evaluate such proposal, the members of the Audit Committee have considered the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">The roles that have been
                                            performed by the members of the Board of Directors;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">The specific dedication
                                            to their functions as part of the Governing Body;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">C.</TD><TD STYLE="text-align: justify">The responsibilities assigned
                                            and assumed, and their representation of the Company;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">D.</TD><TD STYLE="text-align: justify">The value added to the
                                            business for the technical tasks performed;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">E.</TD><TD STYLE="text-align: justify">The high degree of expertise
                                            in the Company&rsquo;s business;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">F.</TD><TD STYLE="text-align: justify">The background, professional
                                            experience and reputation of the Directors that will receive said fees;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">G.</TD><TD STYLE="text-align: justify">The roles of Chairman
                                            and Vice-Chairman;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">H.</TD><TD STYLE="text-align: justify">The technical and administrative
                                            tasks fulfilled;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">I.</TD><TD STYLE="text-align: justify">The additional functions
                                            carried out by some Members of the Board on several committees (Executive Committee, Audit
                                            Committee), adding value to the Board&rsquo;s work and requiring a specific professional
                                            profile, spending many hours of work, and involving tasks of high responsibility;</TD>
</TR></TABLE>

<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"></P>

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    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">J.</TD><TD STYLE="text-align: justify">The volume of business
                                            of the company and its controlled entities;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">K.</TD><TD STYLE="text-align: justify">The strategic decisions
                                            made in the governing body;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">L.</TD><TD STYLE="text-align: justify">The exclusiveness of the
                                            Directors who are part of the Audit Committee, who do not participate in other Audit Committees
                                            in the market;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">M.</TD><TD STYLE="text-align: justify">The tasks performed in
                                            companies abroad in which Telecom Argentina has an equity share;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">N.</TD><TD STYLE="text-align: justify">The proportionality of
                                            the current proposal with those submitted in previous fiscal years, considering the challenging
                                            global context in which the Board had to carry out its duties since March&nbsp;2020, which
                                            continued during Fiscal Year 2021;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">O.</TD><TD STYLE="text-align: justify">The provisions of article
                                            261 of the General Corporations Law No.&nbsp;19,550, and the compensation nature of the functions
                                            assigned;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">P.</TD><TD STYLE="text-align: justify">The provisions of CNV
                                            Rules&nbsp;Chapter III Title II;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">Q.</TD><TD STYLE="text-align: justify">The market behavior of
                                            publicly traded companies that are listed both on Argentine and US Stock Exchanges.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Based on the above, the
Audit Committee unanimously agrees that the total compensation of&nbsp;<B>AR$ 576,097,511</B>&nbsp;submitted for consultation by the
Board of Directors for its Members serving during Fiscal Year 2021 is reasonable, adequate and consistent with the functions performed,
and does not involve any infringement of any legal, regulatory or statutory provision applicable to the Company.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">Additionally, the Audit
Committee unanimously considers reasonable to propose authorizing the Board of Directors to make advance payments to those Directors
serving during Fiscal Year 2022 (contingent upon approval by the Shareholders Meeting that reviews Fiscal Year 2022 documents), as it
is an accepted market practice, in line with the provisions of the General Corporations Law.</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"></P>

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<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 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>II. OPINION
ON THE PROPOSAL ON INDEPENDENT AUDITORS&rsquo; FEES FOR FISCAL YEAR 2021</B></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-top: 0pt; margin-bottom: 0pt; text-align: justify">The&nbsp;Board of Directors
requested the opinion of the Audit Committee on the proposal it intends to submit to the Shareholders regarding the fees to be paid to
Price Waterhouse&nbsp;&amp; Co. S.R.L., for their services as Independent Auditors of the financial statements of Telecom Argentina S.A.
for Fiscal Year 2021. The proposal to be submitted at the Shareholders&rsquo; Meeting includes the payment of&nbsp;<B>AR$ 121,917,003</B>&nbsp;(which
does not include VAT), broken down into&nbsp;<B>AR$ 88,987,527</B>&nbsp;for financial statements audit tasks, and&nbsp;<B>AR$ 32,929,476</B>&nbsp;for
the audit activities performed in connection with the certification under Section&nbsp;404 of the Sarbanes Oxley Act.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">The Audit Committee unanimously
determines that the amount of&nbsp;<B>AR$ 88,987,527</B>&nbsp;that the Board of Directors will propose to the Shareholders&rsquo; Meeting
as compensation for the financial statements audit tasks of the Company performed by the Independent Auditors during Fiscal Year 2021
is reasonable and consistent with the magnitude, importance, and quality of the tasks performed, and is within the range of the fees
approved by other publicly listed companies similar to Telecom Argentina S.A.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">Likewise, taking into account
the complexity of the task and the specialization required from the Independent Auditors to perform the audit activities for the certification
under Section&nbsp;404 of the Sarbanes Oxley Act, the Audit Committee unanimously concludes that the amount of&nbsp;<B>AR$ 32,929,476&nbsp;</B>that
the Board of Directors will propose to the Shareholders&rsquo; Meeting as compensation for the performance of said tasks is also equally
reasonable.</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 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>III. OPINION
ON THE PROPOSAL TO APPOINT INDEPENDENT AUDITORS FOR FISCAL YEAR 2022</B></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-top: 0pt; margin-bottom: 0pt; text-align: justify">The Board of Directors
will propose to the annual General Ordinary Shareholders&rsquo; Meeting to appoint Price Waterhouse&nbsp;&amp; Co S.R.L. as Independent
Auditors of the financial statements of Telecom Argentina S.A. for the Fiscal Year ending December&nbsp;31, 2022. In this case, the firm
has announced that it will keep, to lead this account, CPA Alejandro Javier Rosa as the certifying accountant and CPAs Sergio Reinaldo
Cravero and Ezequiel Luis Mirazon as his alternates.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The Audit Committee, under
the specific provisions of CNV regulations &mdash;substantiated opinion required by articles 25 and 28 of Section&nbsp;VI, Chapter III,
Title II of the CNV Rules&nbsp;(N.T. 2013 and amendments)&mdash; has carried out a review of the background and performance of the firm
Price Waterhouse&nbsp;&amp; Co. S.R.L. (&ldquo;PwC&rdquo;), which is the current provider of independent auditing services of Telecom
Argentina S.A.</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 0pt 0.25in; text-align: justify; text-indent: -0.25in">The review was
based mainly on:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            work done by both the audit and support teams of the firm, at both national and international
                                            level, evidencing in-depth knowledge of the business systems and processes, and particularly,
                                            of the financial reporting process.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            knowledge of the background and the weighting of their performance, obtained as part of the
                                            Audit Committee&rsquo;s activities of annual oversight and evaluation of Independent Auditors,
                                            whose essential objective is to achieve reliability in the financial information that the
                                            Company provides to control entities, investors, and markets.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Thus, the Audit Committee
concludes that, in summary, PwC is a firm of local and international recognized prestige, with a vast and outstanding professional record,
and with procedures that meet stringent levels of quality and independence at its audited companies.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">Additionally, it has sound
knowledge of the business of Telecom Argentina S.A. and its controlled companies, and of its administrative systems and control structure.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">Therefore, the Audit Committee,
based on the background of the proposed firm, its performance in previous years and the abovementioned considerations, unanimously resolves
to submit to the Board of Directors a favorable opinion on the proposal to appoint PwC as Independent Auditors for the Fiscal Year 2022.</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"></P>

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<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 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>IV. AUDIT
COMMITTEE EXPENSES - 2021 REPORT AND 2022 BUDGET</B></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-top: 0pt; margin-bottom: 0pt; text-align: justify">The Board of Directors
also requested the Audit Committee to report the amount of expenses incurred in its operation and training activities during Fiscal Year
2021, which amounted to&nbsp;<B>AR$ 4,765,000,</B>&nbsp;and to conduct an assessment of resources that it considers necessary to carry
out its activities during Fiscal Year 2022, in order to request the approval by the Shareholders&rsquo; Meeting of the corresponding
budget.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">In this regard, Mr.&nbsp;Cazzasa
submits a report on the expenses incurred by the Committee during the fiscal year and budget period 2021, which was impacted by the lack
of in-person activities due to the pandemic, with a breakdown of the items already incurred and those accrued until the end of said budget
period. The members of the Committee review the different items included in the report, which originally amounted to AR$ 10,769,274 for
the year 2021.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">Continuing with discussions
concerning the budget, in view of the activities performed during the previous fiscal year, the training and advisory needs estimated
for the current year, the hiring of services required for the effective performance of its tasks and responsibilities, and the advisability
of maintaining an adequate financial autonomy, as well as the general evolution of costs, the members of the Audit Committee agree on
the convenience to request the Shareholders&rsquo; Meeting to approve an operating budget of&nbsp;<B>AR$ 16,166,020</B>&nbsp;for Fiscal
Year 2022.</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 0pt 0.25in; text-align: justify; text-indent: -0.25in">The following
is placed on record:</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; text-align: justify">a) A copy of the Audit Committee&rsquo;s expense
report and budgetary estimates;</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; text-align: justify">b) A survey of Directors&rsquo; fees and the
composition of the proposed fees for the members of Telecom Argentina S.A.&rsquo;s Board, and</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"></P>

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<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; text-align: justify">c) The appointment and fees of the Independent
Auditors, which are included in the folder of supporting documents for the topics addressed by the Committee.</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-top: 0pt; margin-bottom: 0pt; text-align: justify">Finally, it is unanimously
resolved that the Chairman, Mr.&nbsp;Carlos Alejandro Harrison, sign this document on behalf of the Audit Committee and forward it to
the Board of Directors of Telecom Argentina S.A.</P>

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







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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">There being no further
matters to consider, the meeting is adjourned and the meeting recording on the CISCO WEBEX MEETING Platform under the title &ldquo;Minute
No.&nbsp;258&rdquo; is stopped at 10:02 a.m.</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; text-align: center"><FONT STYLE="font-size: 10pt">Mart&iacute;n Hector
D&rsquo;Ambrosio</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">German Horacio Vidal</FONT></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; text-align: center">Carlos Alejandro Harrison</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"></P>

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<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; text-align: center">SIGNATURES</P>

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

<P STYLE="text-align: justify; font: 10pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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">&nbsp;</TD>
    <TD COLSPAN="3"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Telecom
    </B></FONT><B>Argentina S.A.</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;22, 2022</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Fernando J. Balmaceda</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 41%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fernando J. Balmaceda</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Responsible for Market Relations</FONT></TD></TR>
  </TABLE>
<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"></P>

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