Telecom Argentina SA

Good morning. On behalf of Telecom Argentina, I would like to thank everybody for participating in this conference call. The participants of today's conference call are Roberto Nóbile, Chief Executive Officer, Gabriel Vlasi, Chief Financial Officer, Fernando Balmaceda, Director of Investor Relations, and myself, Solange Varadedeni, Manager of Investor Relations. The purpose of this call is to share with you the results of our third quarter ended September 30, 2020. If you have not received our press release or presentation, you can call our investor relations office to request the documents or download them from the investor relations section of our website located at www.telecom.com.ar This conference call and presentation is being broadcasted and can also be replayed through our investor website at institutional.telecom.com.ar I would like to go over some SAI Harvard information and other details of the goal. We would like to clarify that during a conference call and a Q&A session, we could mention certain forward-looking statements about telecoms' future performance, plans, strategies, and objectives. Such statements are subject to uncertainties that would cause telecoms' actual results and operations to differ materially. Such uncertainties include but are not limited to the effect of ongoing industry and economic regulations, possible changes in the demand for telecoms products and services, the effect of potential changes in general market and or economic conditions, in legislation and the impact of the outbreak of COVID-19 on the global economy and specifically on the economies of the countries which we operate in. as well as on our operations and financial performance. Our press release dated November 9, 2020, a copy of which was included in a form 6K and sent to the SEC, describes certain factors that may affect any forward-looking statements that could be mentioned during the poll. The company has reflected the effects of inflation adjustment adopted by Resolution 777 of 2028 of the Comisión Nacional de Valores CNV, which established that the re-expressions will be applied to the annual financial statements for the intermediate and special periods ended as of and included December 31st, 2018. Accordingly, the reported figures corresponding to the nine months 2020 included the effects of the adoption in flexional accounting in accordance with IAS 29. In this presentation, we will also include figures in historical values which are easier to understand. Our press release is complemented by our earning presentation. The audience should read the disclaimer containing slide one and two of the presentation. The agenda for today's conference call is described in slide three and includes our business and financial highlights. So we will end the call afterwards with a Q&A session. So now let me pass the call to Gabriel Velassi, our CFO, who will start with the presentation.

Thank you, Solange. Good morning and welcome to everyone. Slide 4 shows a summary of the company's figures as of September 2020. During the first nine months of 2020, telecoms revenue totaled $2.7 billion. Revenues measured in constant pesos decreased 4.6% year to year. EBITDA totaled $1 billion, implying a 35.8% EBITDA margin.

Growing in constant pesos 2.4% year over year.