Telecom Argentina (TEO) director discloses 21,850 Class B shares via ADRs

Rhea-AI Filing Summary

TELECOM ARGENTINA SA director Mariano Marcelo Ibanez filed an initial ownership report on Form 3, showing beneficial ownership of Class B Shares. The filing reports that he holds 21,850 Class B Shares in the form of 4,370 American Depository Receipts, with each ADR representing five Class B Shares. The filing does not report any recent purchases or sales, only the existing direct holding.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Ibanez Mariano Marcelo

Role Director

Type	Security	Shares	Price	Value
holding	Class B Shares	--	--	--

Holdings After Transaction: Class B Shares — 21,850 shares (Direct)

Footnotes (1)

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Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Ibanez Mariano Marcelo

(Last) (First) (Middle)

GENERAL HORNOS 690

(Street)

BUENOS AIRES C1 C1272ACK

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/16/2026

3. Issuer Name and Ticker or Trading Symbol
TELECOM ARGENTINA SA [ TEO ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class B Shares	21,850(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The securities reported herein are held in the form of 4,370 American Depository Receipts ("ADRs"). Each ADR represents five Class B shares.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	/s/ Luis Fernando Rial Ubago, Attorney-in-fact	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does the TELECOM ARGENTINA (TEO) Form 3 filing by Mariano Marcelo Ibanez show?

The Form 3 shows that director Mariano Marcelo Ibanez beneficially owns 21,850 Class B Shares of TELECOM ARGENTINA SA. These shares are held through 4,370 American Depository Receipts, with each ADR representing five Class B Shares, and no new transaction is reported.

How many TELECOM ARGENTINA SA (TEO) ADRs does Mariano Marcelo Ibanez report on Form 3?

Mariano Marcelo Ibanez reports holding 4,370 American Depository Receipts of TELECOM ARGENTINA SA. According to the filing, each ADR represents five Class B Shares, resulting in a total reported beneficial ownership of 21,850 Class B Shares held directly at the reporting date.

Does the TEO Form 3 for Mariano Marcelo Ibanez disclose any recent share purchases or sales?

The Form 3 does not disclose any recent purchases or sales of TELECOM ARGENTINA SA shares by Mariano Marcelo Ibanez. It is an initial statement of beneficial ownership, listing his existing direct holding of 21,850 Class B Shares via 4,370 ADRs, without transaction activity.

What type of security is reported in TELECOM ARGENTINA (TEO) director Mariano Marcelo Ibanez’s Form 3?

The filing reports ownership of Class B Shares of TELECOM ARGENTINA SA. These shares are held through American Depository Receipts, with 4,370 ADRs representing a total of 21,850 Class B Shares, and the position is characterized as a direct, non-derivative holding.

What is the significance of each ADR representing five Class B Shares for TELECOM ARGENTINA (TEO)?

The filing specifies that each TELECOM ARGENTINA SA ADR represents five Class B Shares. For Mariano Marcelo Ibanez, his 4,370 ADRs translate into 21,850 Class B Shares, clarifying how the depositary receipt structure converts into the underlying equity exposure reported on Form 3.