Direct Appeal with Supreme Court

CABLEVISIÓN HOLDING S.A.

Company will file a direct appeal with the Supreme Court

On 3 February 2020, Cablevisión Holding S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that, on that date, the Company had been served notice of a decision rendered by Chamber I of the Court of Appeals on Federal Civil and Commercial Matters of the City of Buenos Aires on 26 December 2019 in re "Cablevisión Holding S.A. v. Argentine Securities Commission on Injunctions" (File No. 7998/2018) pending before the First Instance Court on Federal Civil and Commercial Matters No. 3, whereby the Court of Appeals declared that the appeal before the Supreme Court filed by the Company against the decision of the Court of Appeals of 19 July 2019, was inadmissible. In its decision of 19 July 2019, the Court of Appeals had revoked the injunction obtained by the Company that ordered the Argentine Securities Commission to refrain from making any pronouncements or deciding on the authorization of the Mandatory Tender Offer to Acquire Class B Shares of Telecom Argentina S.A. promoted and formulated by the Company on 21 June 2018 for a period of six months (subsequently extended for an additional three months).

The decision of the Court of Appeals declares that the appeal is inadmissible because it understands that that the Company's grievance against the decision is not final. The Company will file a direct appeal with the Supreme Court in due course.

To date, the Company is bound by the decision rendered in re "Burgueño, Daniel Fernando v. EN-CNV on Ordinary Proceeding" (File No. 33,763/2019) that admitted the claim filed by Mr. Burgueño, a shareholder of the Company, which provides that the Company is not under an obligation to carry out a Tender Offer to acquire Shares, pursuant to Article 32(k) of General Resolution No. 779/18 and orders the Argentine Securities Commission to consider that the filing made by the Company has concluded.

Enquiries:

Mr. Agustín Medina Manson

Head of Investor Relations

Ms. Valentina López

Sr. Analyst of Investor Relations

www.cvh.com.ar

Email: [email protected]

Tel: (+54 11) 4309 - 3417