Telecom Argentina

proposed

The proposed investment consists of a potential transaction with Telecom Argentina S.A. consisting of: (i) a Senior Loan for up to US$50 million (“A Loan”); and (ii) a Senior Loan for up to US$450 million (“B Loan”), the proceeds of which would be used to finance sustainable projects ("CapEx") related to 4G/5G infrastructure, including areas far from urban centers that currently lack access to mobile data such as La Consulta in Mendoza, Villa El Salvador in San Juan or Rivera in Buenos Aires, as well as to continue with the expansion of the Fiber to the Home ("FTTH") network, especially in remote regions such as Tartagal, and Tafí Viejo in the northwest part of Argentina and Allen and Plottier in Patagonia, areas where the Company has less coverage. In addition, the proceeds of the financing will be used to refinance certain existing financial obligations, working capital, and general corporate purposes. The financing will potentially be complemented with a co-loan for an aggregate amount of up to approximately US$75 million (“Co-Loan”).The purpose of the transaction is to support the deployment of telecommunications infrastructure to achieve greater digital access, broadband quality, and improved connectivity in Argentina, enabling Telecom Argentina to expand its subscriber base in the medium term.