BUENOS AIRES, Aug. 7, 2026 /PRNewswire/ —

Note: 1H26 figures include the effects of the adoption of inflationary accounting in accordance with IAS 29. Therefore, comments regarding 1H26 results and changes in 1H25 results mentioned in this press release correspond to “restated for inflation” or “constant” figures.

For analysis purposes, it is important to highlight that the comparative results (June 2025) reflect the year-over-year effect of inflation through June 2026, which reached 33.5%. Additionally, the consolidated results for 1H26 include the full contribution of TMA****, whereas in 1H25, TMA’s contribution to the consolidated figures accounted for only 4 months.During 1H26, consolidated revenues reached P$5,075,511 million. Service revenues amounted to P$4,888,908 million in 1H26, with the following performance:Telecom (excluding TMA)³: +2.0% vs. 1H25 (+5% considering the combined Service Revenues from Internet, Mobile and Cable TV Services).TMA: +0.8% vs. 1H25. During 2Q26, service revenues increased by 2.9% vs. 2Q25. Telecom does not determine TMA’s commercial or pricing policies.Consolidated: +16.0% vs. 1H25, reflecting six months of TMA revenues versus only four months in the comparative 1H25 period.During 1H26, the evolution of the customer base in Argentina was as follows:Telecom (excluding TMA): Total mobile accesses declined by 7.1%, reaching 19.4 million. This reduction was mainly driven by disconnections of prepaid lines with no traffic, with no impact on mobile service revenues, while the postpaid segment recorded growth of +1.3% vs. 1Q26. In turn, the fixed segment recorded increases in accesses: TV accesses totaled 3.4 million during the same period (+211 thousand or +6.6% vs. 1H25), while the fixed broadband segment posted a 2.7% increase, totaling 4.2 million accesses (+110 thousand vs. 1H25).TMA: Total mobile accesses (including M2M) amounted to 19.5 million (+237 thousand or +1.2% vs. 1H25). Meanwhile, the fixed broadband segment totaled almost 1.7 million accesses (+73 thousand or +4.6% vs. 1H25). Lastly, pay TV subscribers totaled 0.4 million in the same period (+27 thousand or +6.5% vs. 1H25).During 1H26, consolidated Operating Income before Depreciation, Amortization and Impairment of Fixed Assets (“Operating Income before D, A & I”) margin reached 35.8% (+5.8 p.p. vs. 1H25). Telecom’s (excluding TMA) margin recorded a significant improvement, reaching 39.7% in 1H26. Operating Income before D, A & I totaled P$1,816,819 million in 1H26 (+35.1% vs. 1H25, a period that includes only four months of TMA). Consolidated 2Q26 margin stood at 36.8% (+9.2 p.p. vs. 2Q25), reflecting an increase in the Company’s operating efficiency.During 1H26, consolidated net income amounted to P$869,038 million (vs. a net loss of P$100,900 million in 1H25). Net income for the period is mainly explained by higher foreign exchange gains recorded in financial results, measured in real terms, as a result of the real appreciation of the peso during the 1H26.Consolidated CAPEX (excluding right-of-use assets) totaled P$946,470 million (+47.3% vs. 1H25) and represented 18.6% of consolidated revenues (increasing vs. 1H25, when it reached 14.4% of revenues).Consolidated Net Financial Debt totaled P$4,646,726 million as of June 30, 2026, decreasing in real terms
(-14.7% in constant currency vs. December 31, 2025).Market capitalization as of August 5, 2026.Unaudited non-financial informationThis refers to the exclusion of the consolidated results from the segment “ICT Services Provided in Argentina – TMA Networks,” as presented in Table 3. The same criteria will apply going forward to any results labeled as “Telecom (excluding TMA).”

Telecom Argentina S.A. (“Telecom Argentina”, “Telecom” or the “Company”) (NYSE: TEO; BYMA: TECO2) announced today a consolidated Net Income of P$869,038 million for the period ended June 30, 2026. The consolidated Net Income attributable to the Controlling Company amounted to P$853,902 million.

* Figures may not add up due to rounding.
** In constant currency – includes additions from rights of use as of June 30, 2026 for P$138,606 million and as of June 30, 2025 for P$122,935 million.
*** Telecom figures include IP telephony lines, which totaled approximately 2.49 million and 2.05 million as of June 30, 2026 and June 30, 2025, respectively. TMA figures include IP telephony lines, which totaled approximately 1.61 million and 1.50 million as of June 30, 2026, and June 30, 2025, respectively.

Comparative figures for the previous fiscal year have been restated for inflation so that the resulting information is presented in terms of the current measurement unit as of June 30, 2026.

The following table shows the evolution of the national consumer price index (National CPI – according to INDEC’s official statistics) as of December 31, 2025, and as of June 30, 2025, and 2026:

During 1H26, consolidated revenues reached P$5,075,511 million, of which P$4,888,908 million corresponded to Service Revenues. Notably, during this period, Service Revenues showed a positive evolution relative to inflation, as detailed below.

Telecom does not determine TMA’s commercial or pricing policies.Includes 6 months of TMA revenues whereas the comparative period, 1H25, includes only 4 months.

Consolidated Operating Revenues

Mobile Services

As of June 30, 2026, Telecom’s total accesses (excluding TMA) in Argentina and Paraguay reached 22.1 million, while TMA’s accesses amounted to 19.5 million. In 1H26, consolidated mobile service revenues reached P$2,668,829 million (+P$525,526 million or +24.5% vs. 1H25), being the main business in terms of service revenues (representing 55% and 51% of service revenues in 1H26 and 1H25, respectively). The increase in revenues is mainly the result of the consolidation of TMA’s results in 1H26, which amounted to P$1,162,929 million. Excluding the impact of TMA’s consolidation on mobile service revenues, the 8.5% increase for Telecom (excluding TMA) was mainly driven by an 18.4% increase in real terms in the average monthly revenue per customer (“ARPU”).

Mobile Services in Argentina

As of June 30, 2026, Telecom’s mobile accesses (excluding TMA) in Argentina amounted to approximately 19.4 million (-1.5 million or -7.1% vs. 1H25). This decrease is related to prepaid lines that remain inactive for 240 days without any top-up, leading to their disconnection and removal from the customer base. It is important to note that, despite the year-over-year decline, the postpaid customer base increased by 1.3%, or 102 thousand customers, vs. 1Q26. As of June 30, 2026, 59% of customers corresponded to the prepaid segment and 41% to the postpaid segment, while as of June 30, 2025, prepaid customers represented 61% and postpaid customers represented 39%.

As of June 30, 2026, TMA’s mobile accesses amounted to approximately 19.5 million (+237 thousand or +1.2% vs. 1H25) – including machine-to-machine (“M2M”) accesses. The postpaid base increased by 2.8% vs. 1H25, while the prepaid customer base remained practically stable, posting a slight decrease of 0.2%. As of June 30, 2026, postpaid accesses represent 49% of total mobile accesses. TMA’s average monthly churn stood at 1.4% in 1H26 (vs. an average of 1.6% in 1H25).

ARPU for Telecom (excluding TMA) amounted to P$11,772.2 in 1H26 (+18.4% in real terms vs. 1H25). The effect generated by the restatement into the current measuring unit as of June 30, 2026, included in ARPU, amounted to P$663.1 and P$2,872.6 in 1H26 and 1H25, respectively. Average monthly churn stood at 2.1% in both 1H26 and 1H25.

ARPU for TMA amounted to P$9,840.4 in 1H26 (+2.3% in real terms vs. 1H25). The effect generated by the restatement into the current measuring unit as of June 30, 2026, included in ARPU, amounted to P$541.0 and P$2,794.4 in 1H26 and 1H25, respectively.

Mobile Services in Paraguay (“Núcleo”) 

As of June 30, 2026, Núcleo’s customer base totaled 2.6 million, decreasing by 1.3% compared to 1H25. Of total accesses, 68% correspond to prepaid and 32% to postpaid, while as of June 30, 2025, prepaid accesses represented 72% and postpaid 28%. Average monthly churn stood at 2.8% in 1H26 versus 2.3% in 1H25.

During 1H26, mobile service revenues in Paraguay reached P$118,534 million, increasing in real terms (+P$21,220 million vs. 1H25). This increase was mainly driven by a 17.8% rise in ARPU, supported by price increases and a stronger real appreciation of the Guarani against the Argentine peso (36.7% vs. 22.0%), in a context of lower accumulated inflation (33.5% vs. 39.4%).

Internet Services

Consolidated Internet service revenues reached P$1,101,497 million in 1H26, increasing in real terms (+P$107,160 million, or +10.8%, vs. 1H25). Telecom’s subscriber base (excluding TMA) increased, reaching 4.2 million subscribers (+110.4 thousand, or +2.7%, vs. 1H25) during 1H26. Telecom’s monthly internet service churn stood at 1.4% and 1.2% as of June 30, 2026, and 2025, respectively.

The increase in revenues was mainly driven by the consolidation of TMA’s results in 1H26, which amounted to P$277,889 million. Excluding the impact of TMA’s consolidation, Telecom’s revenues (excluding TMA) increased by 0.7% vs. 1H25.

TMA’s subscriber base reached almost 1.7 million subscribers (+73 thousand, or +4.6%, vs. 1H25) during 1H26. Monthly internet service churn stood at 2.0% as of June 30, 2026, and 2025, respectively.

In 1H26, Telecom’s broadband ARPU (excluding TMA) (restated in constant currency as of June 30, 2026) reached P$30,587.3 (-3.6% in real terms vs. 1H25). The effect generated by the restatement into the current measuring unit as of June 30, 2026, included in ARPU, amounted to P$1,171.8 and P$9,185.8 for 1H26 and 1H25, respectively.

Additionally, in 1H26, TMA’s broadband ARPU (restated in constant currency as of June 30, 2026) reached P$28,946.8 (+1.1% in real terms vs. 1H25). The effect generated by the restatement into the current measuring unit as of June 30, 2026, included in ARPU, amounted to P$1,574.5 and P$8,323.9 for 1H26 and 1H25, respectively.

As of June 30, 2026, subscribers with broadband speeds of 100 Mbps or higher represented 99% of the total subscriber base (vs. 92% as of June 30, 2025).

Cable TV Services

Consolidated cable TV service revenues reached P$541,595 million in 1H26 (+P$25,167 million, or +4.9%, compared to 1H25). The number of TV subscribers for Telecom (excluding TMA), including Uruguay and Paraguay, reached 3.6 million (+206 thousand, or +6.1%, vs. 1H25). TMA’s TV subscriber base totaled 0.4 million (+27 thousand, or +6.5%, vs. 1H25).

The increase in revenues was mainly driven by the consolidation of TMA’s results in 1H26, which amounted to P$60,615 million. Excluding the impact of TMA’s consolidation, the 2.1% increase reported by Telecom (excluding TMA) was primarily attributable to a 0.5% increase in ARPU and a 6.1% growth in the customer base compared to 1H25.

Telecom’s TV subscriber base (excluding TMA) in Argentina reached 3.4 million accesses as of June 30, 2026, representing an increase of 6.6% compared to 1H25. This growth was primarily recorded during June 2026 and was driven by the FIFA World Cup 2026, which boosted demand for bundled cable TV and internet packages to access live match broadcasts and tournament-related content, as well as by new subscriptions to the Football Package.

As part of its strategy to continue delivering a flexible, intuitive and innovative entertainment experience, Personal announced its first exclusive partnership with Netflix in Argentina. This strategic agreement incorporates the OTT platform as a new option within Flow+, its flexible entertainment offering featuring interchangeable monthly subscriptions. Under the same monthly fee, customers can choose two subscriptions from the Football Package, HBO, Disney+ Premium, Universal+, and now Netflix Premium, and switch them every 30 days.

Telecom’s monthly TV ARPU (excluding TMA) (restated in constant currency as of June 30, 2026) reached P$21,870.6 during 1H26 (+0.5% in real terms vs. 1H25). The effect generated by the restatement into the current measuring unit as of June 30, 2026, included in ARPU, amounted to P$837.2 and P$5,902.8 for 1H26 and 1H25, respectively.

TMA’s monthly TV ARPU (restated in constant currency as of June 30, 2026) reached P$25,255.4 during 1H26 (-7.5% in real terms vs. 1H25). The effect generated by the restatement into the current measuring unit as of June 30, 2026, included in ARPU, amounted to P$1,353.7 and P$7,939.3 for 1H26 and 1H25, respectively.

Monthly cable TV churn for Telecom (excluding TMA) stood at 1.5% as of June 30, 2026 and 2025, while TMA’s monthly cable TV churn stood at 3.5% and 4.0% as of June 30, 2026 and 2025, respectively.

Fixed Telephony and Data Services

Consolidated fixed telephony and data service revenues reached P$550,145 million in 1H26 (+P$28,661 million, or +5.5%, compared to 1H25).

The variation in Argentina was mainly driven by the consolidation of TMA’s results in 1H26, which amounted to P$259,536 million. Fixed voice and data revenues for Telecom (excluding TMA) decreased by 10.9%, primarily because the Company was unable to increase its prices at the same pace as inflation, partially offset by a 3.5% increase in the fixed telephony customer base.

It is also worth noting that, although certain data service revenues increased as a result of exchange rate fluctuations (23.0% year-over-year increase), given that these services are primarily denominated in U.S. dollars, such increase remained below cumulative inflation over the last twelve months (33.5%). Telecom’s fixed telephony customer base (excluding TMA) reached 2.8 million in 1H26, of which 2.5 million correspond to customers with IP lines. TMA’s telephony customer base reached 2.1 million, of which 1.6 million are customers with IP lines.

During 1H26, the Pacheco Datacenter, one of the Company’s most important technological hubs, obtained the international “Certified Energy Efficient Datacenter Award” (CEEDA), a recognition that validates efficient energy management and the sustainable operation of data centers under global standards.

Other Service Revenues

Consolidated other service revenues reached P$26,842 million in 1H26 (-P$13,465 million, or -33.4%, compared to 1H25). The decline in other service revenues was mainly attributable to the loss of control of Micro Sistemas, which provided Fintech services in Argentina during 1Q26 and, as of 1H26, is recognized as a joint venture investment.

Revenues from equipment sales

Consolidated revenues from equipment sales totaled P$186,603 million (-P$75,175 million or -28.7% vs. 1H25). The contribution from the consolidation of TMA’s results in 1H26 amounted to P$69,006 million, while equipment sales for Telecom (excluding TMA) decreased by 28.5% in real terms.

Consolidated Operating Costs

Consolidated Operating Costs, including Depreciation, Amortization and Impairment of Fixed Assets, amounted to P$4,401,308 million in 1H26 (+P$158,751 million or +3.7% vs. 1H25).

Excluding Depreciation, Amortization and Impairment of Fixed Assets, consolidated operating costs amounted to P$3,258,692 million and increased by P$126,085 million or 4.0% vs. 1H25. The increase is mainly explained by the impact of the consolidation of TMA amounting to P$332,123 million (excluding the effects of intercompany transactions), resulting from the comparison of 1H26 results for the full six-month period with 1H25 results from the date of TMA’s acquisition.

The cost breakdown was as follows:

Labor costs and severance payments totaled P$1,092,828 million in 1H26 (+P$19,987 million, or +1.9%, compared to 1H25). The increase was mainly driven by the full six months consolidation of TMA’s results in 1H26, whose contribution amounted to P$406,231 million. Telecom’s headcount (excluding TMA) totaled 17,884 employees as of June 30, 2026.Interconnection and transmission costs, which also include roaming, correspondence services, and line and circuit rentals, amounted to P$139,309 million in 1H26 (+P$16,177 million, or +13.1%, compared to 1H25). The increase was mainly driven by the consolidation of TMA’s results in 1H26, whose contribution amounted to P$178,146 million.Fees for services, maintenance and materials: P$622,991 million in 1H26 (+P$37,893 million, or +6.5%, compared to 1H25). The increase was mainly driven by the consolidation of TMA’s results in 1H26, whose contribution amounted to P$266,311 million. Excluding the impact of TMA’s consolidation, the decrease was mainly attributable to a reduction in services provided by customer call centers due to a lower number of service hours consumed. This was primarily the result of the Company’s customer self-service strategy, which enabled a greater proportion of customer interactions and transactions to be completed through digital channels, reducing the need for operational support.Taxes, fees and regulatory charges totaled P$448,516 million (+P$62,379 million or +16.2% vs. 1H25). Taxes, fees and regulatory authority charges in 1H26 include P$179,974 million corresponding to TMA.Commissions and advertising (agents, collection commissions and other commissions) totaled P$235,597 million in 1H26 (-P$8,413 million, or -3.4%, compared to 1H25). TMA’s contribution amounted to P$86,424 million. The decrease was mainly attributable to lower advertising expenses related to Personal Pay campaigns following the loss of control of Micro Sistemas, whose results ceased to be consolidated on a line-by-line basis.Cost of equipment sold totaled P$159,024 million in 1H26 (-P$29,404 million or -15.6% vs. 1H25). This variation is mainly due to a decrease in the number of units sold compared to 1H25. The contribution from TMA’s results in 1H26 amounted to P$62,727 million.Programming and content costs amounted to P$255,354 million (+P$29,889 million or +13.3% vs. 1H25). Programming and content costs in 1H26 include P$51,507 million corresponding to TMA.Other costs totaled P$305,073 million (-P$2,423 million, or -0.8%, compared to 1H25), including bad debt expense, which totaled P$92,851 million (+P$4,412 million, or +5.0%, compared to 1H25):Bad debt expense in 1H26 includes P$39,252 million corresponding to TMA. Bad debt expense represented 1.8% of total revenues as of June 30, 2026 (vs. 2.0% in 1H25).Other operating costs, which include provisions for litigation and other contingencies, energy and other utilities, insurance, leases and Internet capacity, among others, amounted to P$212,222 million (-P$6,835 million, or -3.1%, vs. 1H25). TMA’s contribution to 1H26 amounted to P$56,955 million.Depreciation, amortization and impairment of fixed assets totaled P$1,142,616 million (+P$32,666 million, or +2.9%, vs. 1H25). The increase is mainly explained by the impact of the consolidation of TMA amounting to P$53,408 million, resulting from the comparison of 1H26 results for the full six-month period with 1H25 results from the date of TMA’s acquisition. Excluding this effect, the decrease is attributable to assets that reached the end of their useful lives after June 30, 2025, and to disposals of property, plant and equipment since that date, partially offset by the impact of depreciation and amortization associated with additions made subsequent to such date.

Net Financial Results

Consolidated net financial results (including debt-related financial costs and other net financial results) recorded a gain of P$614,769 million in 1H26 (vs. a loss of P$287,613 million in 1H25).

*Related to Notes issued in UVA (Unidades de Valor Adquisitivo)

The difference in Net Financial Results was mainly attributable to a higher foreign exchange gain, measured in real terms, amounting to P$830,350 million. Although the Company maintained a higher level of U.S. dollar-denominated debt during 2026, thereby increasing its exposure to exchange rate fluctuations, the foreign exchange impact was favorable during the period. This was due to the fact that the U.S. dollar increased by only 1.9% against the Argentine peso, compared to 16.8% in 1H25, while inflation remained at similar levels (16.8% compared to 15.1%). As a result, foreign exchange differences shifted from generating a negative impact in the comparative period to recording a gain in 1H26.

Additionally, there was a higher gain on RECPAM of P$111,240 million and a higher gain from changes in the fair value of financial assets of P$19,898 million, driven by a higher volume of government securities acquired during 1H26, together with an improvement in their real market value.

These effects were partially offset by higher interest expense on borrowings of P$55,884 million, a lower gain from the indexation of loans of P$4,342 million and lower other net financial results of P$1,120 million.

Additionally, the effect derived from the consolidation of TMA amounted to P$5,140 million, resulting from the comparison between results for the full 1H26 period and results for 1H25 from the date of TMA’s acquisition.

Income Tax

Telecom’s income tax includes the following effects:

the current income tax, determined based on the tax legislation currently applicable to Telecom;the effect of applying the deferred tax method with respect to temporary differences determined by comparing our asset and liability valuations according to tax and financial accounting criteria, which includes the effect of the income tax inflation adjustment.

Income tax resulted in a loss of P$452,758 million in 1H26 (compared to a loss of P$46,038 million in 1H25). Losses related to current income tax amounted to P$491,212 million in 1H26 (compared to a loss of P$298,269 million in 1H25), and the income tax charge related to the application of the deferred tax method in 1H26 was a gain of P$38,454 million (compared to a gain of P$252,231 million in 1H25).

Additionally, the effect derived from the consolidation of TMA amounted to P$22,671 million, resulting from comparing the results for the full 1H26 against the results of 1H25 from the date of TMA’s acquisition.

Consolidated Net Financial Debt

As of June 30, 2026, our net financial debt (cash, cash equivalents – net of client funds – plus financial investments and derivatives* minus loans) was a net liability and totaled P$4,646,726 million, representing a decrease of P$803,881 million compared to Net Financial Debt as of December 31, 2025, adjusted for inflation.

* Contemplates rate swaps and NDF (non-delivery forwards) agreements.

Investments in PP&E, intangible assets and rights of use assets

As of June 30, 2026, consolidated CAPEX (including additions to PP&E and intangible assets) totaled P$946,470 million (+47.3% vs. 1H25). CAPEX for Telecom (excluding TMA) totaled P$671,165 million (+39.9% vs. 1H25). Including additions from right-of-use, investments amounted to P$1,085,076 million, including P$292,096 million related to TMA.

The investments were focused on:

Expansion of both fixed and mobile data services to improve transmission and access speed offered to customers, the deployment of 4G coverage and capacity, and continued expansion of 5G to support mobile internet growth and enhance service quality.Deployment and modernization of 4G mobile access sites to improve coverage and increase mobile network capacity. The 4G/LTE rollout reached 98% population coverage. Our mobile network customers with access to our network experienced improved service quality, reaching average speeds of 85 Mbps.During 1H26, we continued expanding our 5G network with the addition of 375 sites.With regard to the fixed access infrastructure, during the first half of 2026 we continued to strengthen our broadband capabilities through the deployment of new fiber optic networks and the modernization of existing infrastructure. FTTH (Fiber to the Home) accesses currently represent 36% of Personal’s broadband base, with over 1.5 million accesses, supported by the acceleration of fiber deployment.

Relevant financial events of the period

Local Notes Issuance

Resolution of Argentine Antitrust Tribunal

On June 18, 2026, the Company reported that it had been notified of Resolution RESFC-2026-38-APN-TDC#ANC, dated June 17, 2026, issued in Case No. EX-2025-22498026-APN-DR#CNDC, entitled: “TELECOM ARGENTINA S.A. S/ NOTICE UNDER SECTION 9 OF LAW No. 27,442 (Conc. 2025),” rendered by the Argentine Antitrust Tribunal (Tribunal de Defensa de la Competencia) (the “Resolution”).

Pursuant to Section 2 of the Resolution, the Argentine Antitrust Commission resolved as follows: “To condition the economic concentration transaction consisting of the acquisition of exclusive control over TELEFÓNICA MÓVILES ARGENTINA S.A. and its subsidiaries by TELECOM ARGENTINA S.A. upon compliance with the remedy set forth in Annex I (IF-2026-60062041-APN-TDC#ANC) (the “Remedy”), which forms an integral part of this Resolution, in accordance with Section 14(b) of Law No. 27,442.”

In summary, Annex I (IF-2026-60062041-APN-TDC#ANC) establishes, as Remedy:

In the mobile telephony segment, “[t]he Parties shall transfer to the Purchaser a minimum base of 6,000,000 mobile service customers, distributed as follows: (a) Buenos Aires Metropolitan Area (AMBA, for its acronym in Spanish): 4,000,000 customers; (b) remaining of the country: 2,000,000 customers, to be freely allocated throughout the national territory outside AMBA, without regional subdivision” (Section 5.1), and “[t]he Parties shall transfer the rights of use of radio spectrum assigned by ENACOM, in the bands and amounts necessary for the competitive operation of the divested mobile service” (Section 6.1).

In the residential internet segment, “[t]he Parties shall transfer to the Purchaser the subscriber base of residential internet services provided by TELEFÓNICA in twenty-eight (28) localities, comprising 211,400 subscribers, located in the Province of Buenos Aires, the City of Buenos Aires, the Province of Mendoza, the Province of Neuquén and the Province of Río Negro” (Section 13.1).

In addition, behavioral remedies are imposed in the corporate services segment and in the wholesale segment, among others.

Relevant events after June 30, 2026

5G Spectrum Auction in Paraguay

In June 2026, CONATEL launched Auction No. 01/2026 – Mobile Broadband for the granting of licenses to provide cellular mobile telephony, internet access and data transmission services in the 2,300 MHz and 3,500 MHz frequency bands. The auction contemplates the provision of services under 5G standards and establishes a maximum spectrum cap of 200 MHz per operator or economic group.

On July 16, 2026, Núcleo was awarded Lot “I” (3,700-3,750 MHz Band) and Lot “J” (3,750-3,800 MHz Band) for a total amount of US$1 million, of which US$0.7 million was paid on the date of the auction, while US$0.3 million remained outstanding as of the issuance date of these condensed interim consolidated financial statements.

The award of the frequency band usage rights will result in their capitalization as intangible assets.

Appointment of Chief Financial Officer (“CFO”)

At its meeting held on July 22, 2026, the Company’s Board of Directors resolved to appoint Mr. Manuel Garcia Diez as Chief Financial Officer (“CFO”) of Telecom Argentina.

Mr. Garcia Diez assumed his duties on August 3, 2026.

Telecom Argentina is a leading telecommunications company in Argentina, offering services combining mobile telephony services, cable television services, internet services and fixed telephony services. We also provide Fintech Services, other telephone related services, such as international long-distance and wholesale services, data transmission and IT solutions outsourcing and we install, operate and develop cable television and data transmission services. We provide our services in Argentina (mobile, cable television, internet, fixed and data, fintech services, among others), Paraguay (mobile, internet, satellite TV, fintech services, among others), Uruguay (cable television services, internet and cybersecurity services and products), the United States (fixed wholesale services) and Chile (cybersecurity services and products). These consolidate an ecosystem of platforms and new businesses, providing a comprehensive and convergent experience for our customers.

As of June 30, 2026, Telecom Argentina owns 2,153,688,011 issued and outstanding shares.

For more information, please contact Investor Relations:

For information about Telecom Argentina’s services, visit:

www.personal.com.ar
www.personal.com.py

Disclaimer
This document may contain statements that could constitute forward-looking statements, including, but not limited to (i) the Company’s expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; (ii) the continued synergies expected from the merger between the Company and Cablevisión S.A. (or the “Merger”) and/or the acquisition of Telefónica Móviles Argentina S.A. (or the “Acquisition”); (iii) the implementation of the Company’s business strategy; (iv) the changing dynamics and growth in the telecommunications and cable markets in Argentina, Paraguay, Uruguay and the United States; (v) the Company’s outlook for new and enhanced technologies; (vi) the effects of operating in a competitive environment; (vii) the industry conditions; (viii) the outcome of certain legal proceedings; and (ix) regulatory and legal developments. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “will,” “may” and “should” or other similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by forward-looking statements. These factors include, among others: (i) the Company’s ability to successfully implement our business strategy and to achieve synergies resulting from the Merger and/or the Acquisition; (ii) the Company’s ability to introduce new products and services that enable business growth; (iii) uncertainties relating to political and economic conditions in Argentina, Paraguay, Uruguay and the United States, including the policies of the new government in Argentina; (iv) the impact of political developments, including the policies of the new government in Argentina, on the demand for securities of Argentine companies; (v) inflation, the devaluation of the peso, the Guaraní and the Uruguayan peso and exchange rate risks in Argentina, Paraguay and Uruguay; (vi) restrictions on the ability to exchange Argentine or Uruguayan pesos or Paraguayan guaraníes into foreign currencies and transfer funds abroad; (vii) the impact of currency and exchange measures or restrictions on our ability to access the international markets and our ability to repay our dollar-denominated indebtedness; (viii) the creditworthiness of our actual or potential customers; (ix) the nationalization, expropriation and/or increased government intervention in companies; (x) technological changes; (xi) the impact of legal or regulatory matters, changes in the interpretation of current or future regulations or reform and changes in the legal or regulatory environment in which the Company operates, including regulatory developments such as sanctions regimes in other jurisdictions (e.g., the United States) which impact on the Company’s suppliers; (xii) the effects of increased competition; (xiii) reliance on content produced by third parties; (xiv) increasing cost of the Company’s supplies; (xv) inability to finance on reasonable terms capital expenditures required to remain competitive; (xvi) fluctuations, whether seasonal or in response to adverse macro-economic developments, in the demand for advertising; (xvii) the Company’s ability to compete and develop our business in the future; (xviii) the impact of increased national or international restrictions on the transfer or use of telecommunications technology; and (xix) the impact of the outbreak of COVID-19 on the global economy and specifically on the economies of the countries in which we operate, as well as on our operations and financial performance. Many of these factors are macroeconomic and regulatory in nature and therefore beyond the control of the Company’s management. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, planned or projected. The Company does not intend and does not assume any obligation to update the forward-looking statements contained in this document.

These forward-looking statements are based upon a number of assumptions and other important factors that could cause our actual results, performance or achievements to differ materially from our future results, performance or achievements expressed or implied by such forward-looking statements. Readers are encouraged to consult the Company’s Annual Report on Form 20-F and the periodic filings made on Form 6-K, which are periodically filed with or furnished to the United States Securities and Exchange Commission, as well as the presentations periodically filed before the Argentine Securities and Exchange Commission (Comisión Nacional de Valores) and the Buenos Aires Stock Exchange (Bolsas y Mercados Argentinos), for further information concerning risks and uncertainties faced by the Company.

Contacts:
Luis Fernando Rial Ubago – lfrialubago@personal.com.ar 
Tomás Pellicori – tlpellicori@personal.com.ar 

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SOURCE Telecom Argentina

Industry veteran to lead product strategy as company accelerates AI-driven innovation for fleet customers

MILTON KEYNES, England, Aug. 7, 2026 /PRNewswire/ — Teletrac Navman, a leading connected mobility platform for industries that manage vehicle and equipment assets, today announced the appointment of Pankaj Sharma as Vice President of Product Management.

Sharma brings more than 15 years of experience building and scaling product organizations across SaaS, AI, machine learning, and platform businesses. He joins Teletrac Navman from Platform Science (Trimble Telematics), where he served as Vice President of Product Management and led the launch of AI-powered analytics and safety solutions, expanded ELD offerings, and oversaw product integration following acquisitions. He has also held senior product leadership roles at Verra Mobility, Michelin Connected Fleet, and Verizon Connect.

“Pankaj is a highly accomplished product and technology leader with a track record of driving meaningful revenue growth and bringing innovative, customer-focused solutions to market,” said Alain Samaha, President & CEO, Teletrac Navman. “His experience developing growth-oriented product strategies will be a tremendous asset as we continue evolving our products and delivering value to our customers.”

Sharma’s appointment comes as Teletrac Navman continues to expand its product portfolio. The company recently launched Energy Hub, a new solution within its all-in-one fleet management platform TN360 that gives businesses a unified view of energy usage across mixed-energy fleets, combining EV charging visibility with traditional fuel data in a single platform. The launch follows the introduction of an Electronic Braking Performance Monitoring System, part of the company’s portfolio of automated compliance products that provides a regulatory-approved alternative to traditional roller brake testing. Both releases build on Teletrac Navman’s position as a standalone company following its acquisition by Respida Capital earlier this year.

“I’m excited to join Teletrac Navman at such a pivotal moment for the industry,” said Sharma. “I look forward to working with the team to build products that solve real-world challenges for our customers and drive the next phase of innovation for the business.”

Sharma will be based in Atlanta.

Media Contact:
E: lisa.langsdorf@carouselpr.com    

About Teletrac Navman

Teletrac Navman’s goal is to empower the industries that transform and sustain our futures with simple and intelligent solutions that enhance the efficiency, safety, and sustainability of their operation. As a connected mobility platform for industries that manage vehicle and equipment assets, Teletrac Navman simplifies the complex so that its customers can transform the way they work through cloud-based solutions that leverage AI to unlock the power of operational insight. The company operates globally, with offices worldwide and headquarters in Northbrook, IL. For more information visit www.teletracnavman.com.

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Years of strategic investment in engineering, governance, research and partnerships position FuelPositive to complete activation and begin demonstration of its decentralized Green Ammonia technology, advancing toward commercialization.

In This Release

Financing and Debt ConversionBuilding a Stronger CompanyExpanding Technical ExpertisePreparing for DemonstrationLooking Beyond the First SystemStrengthening the Corporate FoundationLeadership CommentaryAnnual General MeetingWarrant Extension

WINNIPEG, Manitoba, Aug. 7, 2026 /CNW/ — FuelPositive Corp. (TSX Venture: NHHH) (“FuelPositive” or the “Company”) today announced the successful completion of its latest financing and related debt conversion, marking an important step in the Company’s evolution as it prepares to enter the demonstration phase of its decentralized Green Ammonia technology and continue its path toward commercialization.

Financing Details

Further to its news releases of June 11, 2026, and July 31, 2026, the Company has closed its non-brokered private placement financing through the issuance of 85,250,000 units (each, a “Unit”) at a price of $0.05 per Unit for aggregate gross proceeds of $4,262,500 (the “Offering”) on August 5, 2026. Each Unit consists of one common share of the Company (“Common Share”) and one common share purchase warrant (each, a “Warrant”). Each Warrant will be exercisable at a price of $0.08 for a period of sixty months, provided that in the event the ten-day volume-weighted average closing price of the Common Shares on the TSX Venture Exchange (the “TSXV”) exceeds $0.40, the Company will have the right to accelerate the expiry of the Warrants.

The Company intends to use the gross proceeds from the Offering to advance the activation and demonstration phases of its Manitoba system, support ongoing operations and working capital requirements.

In connection with completion of the Offering, the Company paid finder’s fees of $38,500 and issued 770,000 non-transferable common share purchase warrants (each, a “Finders’ Warrant”) to certain arms-length parties (each, a “Finder”) who assisted in introducing subscribers to the Offering. Each Finders’ Warrant entitles the holder to acquire one Common Share of the Company at a price of $0.08 until August 5, 2031.

All securities issued in connection with the Offering are subject to restrictions on resale until December 6, 2026, in accordance with applicable Canadian securities laws.

Debt Settlement

The Company also announces that it has received TSXV approval and has settled outstanding indebtedness in the aggregate of $1,904,205 owing to certain arm’s-length service providers, with the exception of Andre Mech, a director of the Company, through the issuance of 1,900,000 Common Shares and 35,452,44 units (“Debt Units”) as follows (the “Debt Settlement”):

An aggregate of $95,000 in outstanding indebtedness through the issuance of 1,900,000 Common Shares at a deemed price of $0.05 per Common Share in respect of Andre Mech, a director of the Company.An aggregate of $768,250 in outstanding indebtedness through the issuance of 14,633,334 Debt Units at a deemed price of $0.0525 per Debt Unit. Each Debt Unit consists of one Common Share and one common share purchase warrant (each, a “Debt Warrant”). Each Debt Warrant will be exercisable at a price of $0.07 for a period of sixty months.An aggregate of $1,040,955 in outstanding indebtedness through the issuance of 20,819,110 Debt Units at a deemed price of $0.05 per Debt Unit. Each Debt Unit consists of one Common Share and one Debt Warrant. Each Debt Warrant will be exercisable at a price of $0.08 for a period of sixty months.

In addition, the Company also settled an aggregate of $278,940.51 outstanding indebtedness through the issuance of 9,298,017 Debt Units at a deemed price of $0.03 per Debt Unit, further to its press releases dated December 4, 2024, and January 15, 2025. Each Debt Unit consists of one Common Share and one Debt Warrant. Each Debt Warrant will be exercisable at a price of $0.05 for a period of sixty months.

In connection with completion of the Debt Settlement, the Company paid finder’s fees of $15,000 and issued 300,000 Finders’ Warrant to an arms-length Finder who assisted in introducing one of the original creditors. Each Finders’ Warrant entitles the holder to acquire one Common Share of the Company at a price of $0.08 until August 5, 2031. All securities issued in connection with the Debt Settlement are subject to restrictions on resale until December 6, 2026, in accordance with applicable securities laws.

Andre Mech, a director of the Company, is a “related party” of the Company pursuant to Multilateral Instrument 61-101 – Protection of  Minority Security Holders in Special Transaction (“MI 61-101”) and participated in the Debt Settlement. Accordingly, the Debt Settlement constitutes a “related party transaction” within the meaning of MI 61-101. Mr. Mech received an aggregate of 1,900,000 Common Shares at a deemed price of $0.05 per Common Share pursuant to the Debt Settlement. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the Common Shares issuable to the related party does not exceed 25% of the Company’s market capitalization. The Company did not file a material change report in respect of the Debt Settlement on SEDAR+ less than 21 days prior to the anticipated closing date as the Company determined it was necessary to complete the Debt Settlement on an expedited basis in order to reduce liabilities and maintain operations.

The successful completion of this financing reflects the continued confidence of investors and long-term stakeholders who share FuelPositive’s vision of decentralized Green Ammonia production. At a time when raising capital has remained challenging for many emerging technology companies, the Company is encouraged by the continued support of existing and new investors who recognize the need for practical, decentralized solutions that strengthen agriculture, improve food security and support remote communities.

More importantly, the financing enables FuelPositive to continue executing the next phase of its business plan. Years of engineering, corporate development and strategic preparation have converged to position the Company for demonstration, providing the opportunity to validate its technology under real operating conditions while continuing to advance toward commercialization.

Building a Stronger Company

Although public announcements have been less frequent over the past two years, FuelPositive has been diligently focused on strengthening every major aspect of the Company.

Rather than concentrating on a single initiative, FuelPositive has advanced engineering, manufacturing readiness, governance, financing, research collaborations, strategic partnerships, supplier relationships and commercialization planning simultaneously. Each initiative has contributed to a stronger organization that is better positioned for long-term growth.

Many of these efforts have progressed concurrently, reflecting a disciplined approach to strengthening both the Company’s technology platform and its corporate foundation. These investments have established the organizational, technical and financial capabilities needed not only to support demonstration, but also future manufacturing, commercial deployment and continued innovation. Collectively, they represent two years of intense work to prepare FuelPositive for its next stage of development.

The successful completion of this financing is another important step in that progression. It strengthens the Company’s financial position as FuelPositive enters its next stage of development.

As activities increasingly shift from preservation and planning toward implementation and demonstration, the Company’s focus is turning to execution, operational performance and commercial readiness.

Expanding Technical Expertise

FuelPositive continues to benefit from an expanding network of engineering firms, researchers, contractors and strategic collaborators who share the Company’s long-term vision.

Today, engineering disciplines, specialized contractors, researchers and strategic advisors are working in parallel toward a common objective: successfully demonstrating FuelPositive’s technology and supporting its transition toward commercialization.

Long-standing engineering partners, led by Stantec, continue to support the activation and demonstration project alongside specialized contractors across the electrical, mechanical and chemical disciplines.

Core team consultants have resumed key technical responsibilities, bringing valuable continuity and years of hands-on experience as FuelPositive transitions to its next stage.

At this transformative stage, the Company has expanded its collaboration with Dr. Ibrahim Dincer and his research team. Their internationally recognized expertise will contribute to validating the Company’s first demonstration system while supporting essential safety protocols, future optimization, IP development and the continued evolution of FuelPositive’s technology through advanced research and chemical engineering.

FuelPositive also recognizes the dedication of its employees, whose commitment, alongside that of its Board of Directors, investors, engineering partners, researchers, contractors, suppliers and strategic collaborators, has been instrumental in advancing the Company to this important stage of development.

Preparing for Demonstration

FuelPositive is currently focused on the activities required to begin demonstrating its decentralized Green Ammonia technology under real operating conditions in Manitoba.

As expected with any first-of-its-kind technology deployment, the Company continues to satisfy the remaining utility integration and regulatory requirements associated with its Manitoba demonstration project. While these requirements have added complexity and extended timelines beyond those typically encountered in many other jurisdictions, FuelPositive remains focused on completing this phase and moving into demonstration as efficiently and responsibly as possible.

At the same time, the Company continues advancing future deployment models designed to reduce reliance on conventional utility infrastructure. FuelPositive believes energy-independent configurations, including off-grid applications, have the potential to simplify future deployments, expand commercial opportunities and provide greater flexibility for farmers, remote communities and industrial users.

These efforts reflect the Company’s long-term objective of developing a platform capable of serving a broad range of operating environments while supporting future commercial growth.

The demonstration phase will represent the first opportunity to validate FuelPositive’s technology while welcoming prospective customers, researchers, strategic partners, government representatives, Indigenous communities and industry stakeholders to experience the system firsthand.

Beyond validating system performance, the demonstration program is expected to generate valuable operational knowledge, performance data and customer feedback that will support manufacturing readiness, future product development and broader commercial deployment. The Company views this phase as an important bridge between years of development and the next stage of commercialization.

Looking Beyond the First System

FuelPositive’s vision has always extended well beyond demonstrating a single system.

Even as the Company prepares for demonstration, development of future generations of its technology continues. Drawing on engineering experience, research collaborations, and feedback from farmers and other prospective customers, FuelPositive is evaluating enhancements intended to improve performance, simplify deployment, support energy-independent configurations, and address the evolving needs of agriculture, remote communities, and future industrial markets.

By advancing next-generation development in parallel with demonstration activities, the Company expects to incorporate real-world operating experience directly into future commercial products while broadening the long-term applicability of its technology.

FuelPositive believes this continuous approach to innovation will strengthen the scalability and modularity of its platform and support long-term value creation as commercialization progresses.

Strengthening the Corporate Foundation

Alongside technical progress, FuelPositive has continued building the business infrastructure required for its next stage of development.

Over the past two years, the Company has enhanced its governance, financial and organizational capabilities to support future commercialization.

The Board of Directors has remained actively engaged throughout this process, supporting the Company’s long-term strategy, reinforcing its governance framework and helping position FuelPositive for sustainable growth.

FuelPositive recently transitioned its primary banking relationship from RBC to Steinbach Credit Union. The Company believes Steinbach Credit Union’s deep agricultural roots, entrepreneurial focus and commitment to innovation make it a stronger long-term financial partner whose values closely align with FuelPositive’s mission and the communities it intends to serve.

The Company has also transitioned its bookkeeping and accounting services to MNP LLP, one of Canada’s leading national accounting, tax and business advisory firms. This transition further strengthens FuelPositive’s financial infrastructure as the Company prepares for future growth and commercialization.

Taken together, these initiatives reflect FuelPositive’s commitment to building not only innovative technology, but also a disciplined, resilient organization capable of supporting long-term execution.

Leadership Commentary

Despite continued challenges in the capital markets, FuelPositive continues to see interest from investors, researchers, industry participants and prospective customers who recognize the long-term potential of decentralized Green Ammonia production and the opportunities it can create across agriculture and other sectors.

Luna Charlebois, Chief Impact Officer and Director, commented:

“The past several years have tested this Company, but they have also made FuelPositive stronger, more disciplined and more determined. Behind this milestone are years of engineering, research, problem-solving and an extraordinary amount of work by people who continued to believe in what we are building and why it matters.

We are now approaching the moment when that work can move into real-world demonstration. For us, this has never been about building a single system. It is about creating a practical platform that can give farmers and communities greater control over something fundamental to their future: how and where essential inputs are produced.

We are deeply grateful to the shareholders, partners and team members who have helped us reach this stage, and incredibly energized by what comes next.

Ian Clifford, CEO and Chair, commented:

“Completing this financing, together with the conversion of debt into equity, represents an important milestone in FuelPositive’s evolution and strengthens the foundation from which we can execute our next phase. The decision of key stakeholders to convert debt into equity reflects a shared commitment to FuelPositive’s long-term success.

We are particularly grateful for the support demonstrated by our investors, suppliers and long-standing stakeholders, many of whom have stood with the Company through an exceptionally demanding period of development. That support has allowed us to preserve years of engineering and intellectual capital while building the team and corporate foundation required to move forward.

Demonstrating our technology under real operating conditions is the next critical step. It will allow us to validate years of development, generate the operational knowledge that will shape future systems and advance our preparations for broader commercial deployment.

Looking at FuelPositive today, I believe we have the strongest technical, organizational and strategic foundation we have had since the Company began, and we are ready to execute on the opportunity ahead.”

Annual General Meeting

FuelPositive looks forward to welcoming shareholders to its Annual General Meeting on August 11, 2026, at 4:00 p.m. Eastern Time.

The Board views this year’s Annual General Meeting as an important opportunity to recognize the resilience, commitment and long-term perspective that have characterized FuelPositive’s journey. The Company believes the work completed over the past two years has positioned FuelPositive to enter its next stage from a position of greater strength and readiness than at any previous point in its history.

Warrant Extension

The Company announces that the proposed extension of 22,096,123 common share purchase warrants, previously announced on July 13, 2026, was not approved by the TSXV. As a result, the Company is not proceeding with the proposed extension.

About FuelPositive:

Fertilizer Independence and Farming Resilience
FuelPositive is a Canadian clean-tech company transforming agriculture through decentralized, on-farm Green Ammonia production systems. By enabling farmers to produce their own green nitrogen fertilizer and carbon-free fuel on-site, the Company is redefining the ammonia industry and putting control directly in the hands of those who feed the world. This model reduces reliance on volatile supply chains and unpredictable pricing, helping farmers secure their livelihoods and plan for the future.

Each tonne of ammonia produced by a FuelPositive system prevents up to two tonnes of CO2e emissions, offering both environmental and economic advantages. Designed for simplicity, reliability, and remote monitoring, the Company’s containerized systems integrate seamlessly into farm operations. Made in Canada for Canadian conditions, they are engineered to be as straightforward to operate as they are impactful.

The first FP300 demonstration system, installed on an 11,000-acre grain farm in Sperling, Manitoba, is designed to produce 100 metric tonnes of Green Ammonia annually. This unit serves as the foundation for the FP1500 commercial system, which can generate 500 metric tonnes annually for farms of about 10,000 acres. Powered by sustainable electricity, the systems produce carbon-free ammonia on demand, offering a decentralised, cost-effective alternative to animal manure and fossil-fuel-based fertilizers and fuels.

The delivery of the FP300 to Tracy and Curtis Hiebert’s farm in Sperling, Manitoba, marked a milestone in sustainable agriculture. Once activated, the system will demonstrate how local production can improve farm economics, reduce environmental impact, and strengthen resilience to climate change, market fluctuations, and global supply chain disruptions.

FuelPositive aims to position Canada as a global centre of excellence for decentralized Green Ammonia production and to establish a world-leading manufacturing hub. Supported by Stantec, one of the world’s top engineering and consulting firms, this initiative will drive economic growth, create high-value jobs in engineering, science, and skilled trades, and promote a more resilient and sustainable food system. FuelPositive is based in Ontario and Manitoba, Canada, and is listed on the TSX Venture Exchange under the symbol NHHH and on the OTCQB in the USA under the symbol NHHHF.

Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company is forward-looking statements. These forward-looking statements are based on the Company’s management’s assumptions and estimates at the time they were made and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.

Many of these uncertainties and contingencies can directly or indirectly affect actual results. They could cause actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove accurate, as actual results and future events could differ materially from those anticipated in such statements.

Forward-looking information is provided to convey management’s expectations and plans for the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

SOURCE FuelPositive Corp.