Secretary of Trade imposes Fine on Subsidiary

GRUPO CLARIN S.A.

Secretary of Trade imposes Fine on Subsidiary Arte Radiotelevisivo Argentino S.A.

On 13 January 2023, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that the Company's subsidiary Arte Radiotelevisivo Argentino S.A. ("ARTEAR") had been served notice of the Resolution of the Secretary of Trade No. 2023-8-APN-SC#MEC, dated as of 11 January 2023 (the "Resolution"), whereby the Secretary of Trade imposed a "a single fine" on ARTEAR and Telecom Argentina S.A. "of One Hundred Fifty Million Pesos (Ar$ 150,000,000) pursuant to Articles 1 and 3, paragraphs d) and h) of Law No. 27,442 and Article 46 paragraph b) of Law No. 25,156." [Laws on Defence of the Competition].

ARTEAR, with the assistance of its legal advisors, is analysing its legal defences with respect to this Resolution.

Enquiries:

In Buenos Aires:

Samantha Olivieri

Grupo Clarín

Tel: +5411 4309 7104

Email: investors@grupoclarin.com

In London:

Alex Money/Clare Gallagher

Jasford IR

Tel: +44 20 3289 5300

Email: alexm@jasford.com

In New York:

Camilla Ferreira / Marcella Ewerton

Fig Corporate Communications

Tel: +1 917 691 4047

Email: fig@fig.ooo