Marval O’Farrell Mairal acted as local counsel in Telecom Argentina S.A.’s approximately US$ 52 million secondary public offering of ADSs

On February 12, 2026, Fintech Telecom LLC, acting as the selling shareholder (the “Selling Shareholder”), successfully closed a secondary public offering of 4,658,131 American Depositary Shares (ADSs). Each ADS represents five Class B ordinary shares of Telecom Argentina S.A. and is listed on the New York Stock Exchange (NYSE) under the ticker symbol “TEO” (the “Transaction”).

Telecom Argentina S.A. (“Telecom”) is a leading telecommunications provider in Argentina, offering a comprehensive suite of services including mobile telephony, cable TV, high-speed internet, and fixed-line telephony. The company also provides fintech services, international long-distance and wholesale services, data transmission, and outsourced technology solutions.

The final offering price was set at US$ 11.15 per ADS, resulting in an aggregate transaction value of approximately US$ 52 million. As the offering was conducted entirely by the Selling Shareholder, the net proceeds were received exclusively by such entity, with no direct proceeds going to Telecom.

Morgan Stanley & Co. LLC and Banco BTG Pactual S.A. — Cayman Branch acted as joint book-runners (the “International Underwriters”). The Transaction involved a cross-border team of advisors across the United States and Argentina.

Marval O’Farrell Mairal acted as local legal counsel to the International Underwriters. Milbank LLP acted as New York legal counsel to the Selling Shareholder. Cleary Gottlieb Steen & Hamilton LLP acted as New York legal counsel to Telecom Argentina. Davis Polk & Wardwell LLP acted as New York legal counsel to the International Underwriters. EGFA Abogados acted as local legal counsel to Telecom Argentina.

Local legal advisors
The Marval O’Farrell Mairal team was led by partner Sergio Tálamo and associates Martín Iván Lanus, Lautaro Penza, and Pedro María Azumendi