CASH AND CASH EQUIVALENTS AND INVESTMENTS. ADDITIONAL INFORMATION ON THE CONSOLIDATED STATEMENTS OF CASH FLOWS

Schedule of financial position information of investments in associates

Percentage

of capital

stock owned

Nature of

and

Valuation as

Companies

relationship

Main activity

Country

voting rights (%)

of 12.31.2023

of 12.31.2022

Ver TV. (1)

Associate

Cable television station

Argentina

49.00

10,493

12,869

TSMA (1) (2) (3)

Associate

Cable television station

Argentina

50.10

3,814

4,836

La Capital Cable (1) (2)

Associate

Closed-circuit television

Argentina

50.00

2,248

2,356

OPH (4)

Joint venture

Holding

USA

50.00

7,252

—

Total

23,807

20,061

(1)	Data about the issuer arises from extra-accounting information.

(2)	Direct and indirect interest.

(3)	Despite owning a percentage higher than a 50% of interest, the Company does not have the control in accordance with the requirements of IFRS Accounting Standards. See Note 3.d.3.1).

(4)	During April 2023, the Company has acquired a 50% shareholding in OPH. See Note 28.b).

Schedule of changes in assets/liabilities components


	December 31,
Net (increase) decrease in assets	2023	2022	2021
Trade receivables	(177,962)	(102,951)	(80,732)
Other receivables	(89,842)	(70,363)	(32,860)
Inventories	(20,870)	(7,318)	8,691
	(288,674)	(180,632)	(104,901)
Net increase (decrease) in liabilities
Trade payables	338,257	172,342	69,827
Salaries and social security payables	72,461	58,990	60,120
Other taxes payables	43,974	(36,242)	(17,647)
Other liabilities and provisions	18,029	(1,878)	(5,767)
	472,721	193,212	106,533

Schedule of main non-cash operating transactions


	December 31,
	2023	2022	2021
PP&E and intangible assets acquisition financed with accounts payable	138,230	85,674	125,011
Right of use assets acquisition owed	85,619	65,386	110,123
Dividends payment made with investments not considered as cash and cash equivalents (See “Dividends paid”)	104,445	140,937	242,761
Trade payables cancelled with borrowings	34,104	33,433	49,364
Trade receivables cancelled with government bonds	—	2,090	14,284
Social security payables cancelled with government bonds	—	—	7,981
Joint ventures acquisition cancelled with government bonds	547	—	—
Debt for acquisition of companies and joint ventures	3,927	1,896	—
Indemnification assets	—	280	—
Other receivables offset with income tax liabilities	—	—	861

Schedule of distribution of non-cash dividends


		Distributed amount
		Currency of the	Current currency as of
Year	Government Bonds and Nominal Value	transaction date	December 31, 2023
2023 ⁽¹⁾	2030 Global Bonds: US$411,214,954	47,701	104,445
2022 ⁽²⁾	2030 Global Bonds: US$411,145,986 2035 Global Bonds 2035: US$103,854,014	31,634	140,937
2021⁽³⁾	2030 Global Bonds: US$370,386,472 2035 Global Bonds 2035: US$186,621,565	35,068	242,761

(1)

Pursuant to the powers delegated by the shareholders of Telecom Argentina at the Ordinary and Extraordinary Shareholders’ Meeting held on April 27, 2023, on May 3, 2023, the Board resolved to partially reverse the “Voluntary reserve to maintain the Company’s level of capital expenditures and its current solvency level” to distribute as non-cash dividends.

(2)

Pursuant to the powers delegated by Telecom Argentina’s Ordinary and Extraordinary Shareholders’ Meeting held on April 27, 2022, on June 2, 2022 the Board resolved to partially reverse the “Voluntary reserve to maintain the Company’s level of capital expenditures and its current solvency level” to distribute as non-cash dividends.

(3)	The General Extraordinary Shareholders’ Meeting of Telecom Argentina held on August 11, 2021 resolved to partially reverse the “Voluntary reserve to maintain the Company’s level of capital expenditures and its current solvency level” to distribute as non-cash dividends.