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I N S T I T U T I O N A L P R E S E N T A T I O N

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ABOUT USLEADING REAL ESTATE COMPANY IN ARGENTINA

DEVELOPMENT PROPERTIES

EXPERIENCED MANAGEMENT TEAM

UNIQUE PORTFOLIO OF ASSETS

CAPITAL MARKETS TRACK RECORD

30 years acquiring, developing and operating real estate.

Rental Portfolio of more than 500,000 sqm of GLA.

Controlling shareholder of IRCP, leader in Shopping Malls

and Offices in the country (80% Stake).

Owner of 3 premium hotels in Argentina and investment in

CONDOR, US hotel REIT (18.9% stake)

~20 mm sqm premium landbank for future developments,

almost to double current rental portfolio.

Investment in Banco Hipotecario (30% stake) – potential

synergies with the develompent of mortage market in the

country.

With proven track record in the industry

25 years listed on the NYSE and accessing capital markets

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OUR STRATEGY

Our premium locations and our

leadership position in Argentina,

together with our knowledge of the

shopping center and office industry,

allows us to maintain high occupancy

levels and an optimal tenant mix.

Pioneers in innovative real estate

developments in Argentina due to their

format, scale and concept.

We have created a unique real estate

portfolio in the last 30 years in the

country innovating and adapting to

changes in context and consumption

habits.

We are part of the communities where

our business units operate. We plan for

the long term and work towards

environmental protection, and

sustainable Development, seeking to

achieve environmental certification

standards in our real estate projects.

OPERATING PROFITABILITY SUSTAINABILITYINNOVATION AND GROWTH

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MALLS’ PORTFOLIO

67%BA City Market Share

15# Malls

336,000GLA sqm

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OFFICEPORTFOLIO

2 0 0 D E L L A PAO L E R A

N e w h e a d q u a r t e r sO p e n e d o n D e c - 2 0

30Floors

35,000SQM OF GLA

316Parking lots

27,000IRCP GLA

75%Occupancy

10%BA City Market Share

7# Office buildings

113,000GLA sqm

Expanding Corporate North AreaBusiness CenterAAA LocationBack Office Center

200 Della Paolera

Intercontinental

República

Zetta

Philips

Dot Building

Suipacha

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6

2,450

710

4,500

5,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Yacht V & VI

Bouchard 710

República

Boston Tower

Bouchard Plaza

Rulero

Maipú

Intercontinental

Rulero

Maipú

Dique IVBouchard Plaza

200 Della Paolera

A+ Offices pricesUSD/sqm

Sales

Acquisitions

Flight to quality strategy

Zetta BuildingOpened in May 2019

200 Della PaoleraOpened in Dec-20

Bouchard 710

Intercontinental Boston Tower

Della Paolera 261

CAPITAL CONTROLS CAPITAL CONTROLS

OFFICE BUILDINGSAC T I V E P O R T F O L I O M A N AG E M E N TF L I G H T TO Q UA L I T Y S T R AT EGY

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HOTEL PORTFOLIO

3Premium hotels in Argentina

79,000sqm

718rooms

18.9%IRSA stake in Condor 15

hotels

8states across US

1,908rooms

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San Martin (BA province)

Montevideo (Uruguay)

Polo Dot (BA city)

La Plata (BA province)

PRO PERTIES FO R MIXED U S E D E V E LO P ME N TS

18# Land Reserves

17.4Total surface

(mm sqm)

6.2Buildable surface

(mm sqm)

900k sqmCOSTA URBANA PROJECT (FORMER SANTA

MARÍA DEL PLATA) Puerto Madero – BA city

Capacity to almost double current rental portfolio

Caballito (BA city)

Costa Urbana Project (BA city)

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COSTA URBANA PROJECT ( F O R M E R SA N TA M A R Í A D E L P L ATA )

Urbanization areaPedestrian walkways and access pointsPublic and green space

>10 yearsProject

R E C E N T B A C I T Y C O N G R E S S F I R S T A P P R O VA L O N O U R M A I N P R O J E C T

67%For public uses

33%To be developed

70Total has.~900,000

Buildable sqm

The project will boost construction and economic activity, generate plenty of direct and indirect jobs and will house

approximately 6,000 families

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• In August, BA City congress approved in first reading the new mixed-use project.

• A public audience and a second vote is still pending for final approval

Premium locationSouth Puerto Madero

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0,4

0,6

0,8

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1,2

31/12/2017 31/3/2018 30/6/2018 30/9/2018 31/12/2018 31/3/2019 30/6/2019 30/9/2019 31/12/2019 31/3/2020 30/6/2020 30/9/2020 31/12/2020 31/3/2021 30/6/2021

-17%YoY

Full-service commercial bank, focused on household and consumer credit

More than 130 years track record

Nationwide network of 63 branches in 23 provinces and BA City

12 additional points of sale

Subsidiaries: BHN Vida, BHN Seguros and BACS (leading local capital markets bank)

Partnership between IRSA (30% stake) and the Argentine government (64%). Remaining 6% float (BYMA: BHIP)

Throughout its history, it has originated more than 1.7 million residential mortgage loans. Since 2012, it is the trustee of the PROCREAR trust (a housing trust established by the national government) and has originated more than 200,000 housing loans

Private Sector Loan Diversification 1,2

In ARS mm

Sources: Bank filings with the National Securities Commission (CNV) and BCRANotes:1. Only considers loans to the non-financial private sector and residents abroad2. Information for FY 2019 and FY 2020 is in constant currency as of December 31, 2020, whereas information for Q1 and Q2 2021 is in constant currency as of June 30, 2021

INVESTMENT IN BANCO HIPOTECARIO

25.170

17.206

8.679

59.354

48.448

56.936 51.056

FY19 FY20 IQ21 IIQ21

Consumer

Commercial

Mortgage

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ENVIRONMENTAL COMMITMENT

22%

ISO 14001 SHOPPING MALLS CERTIFICATIONS

30% (of malls’ portfolio)

LEED GOLD CERTIFICATION FOR OFFICE BUILDINGS

Zetta building, opened in 2019, in the north area of Buenos Aires

City, has LEED Gold Core & Shell certification.

200 Della Paolera building, recently opened, has the

characteristics to obtain LEED Gold Core & Shell Certification.

50% (of office portfolio)

ENERGY REDUCTION

Pursuing improvement in the environmental management of

shopping centers, we have 4 ISO 14001 certified shopping

malls: Alto Palermo, Dot Baires, Patio Bullrich and Distrito

Arcos.

Energy consumption was reduced in our malls 22% from 2018 to 2020. 80% of the luminaire is

LED. 42% of the scalators have a speed regulation system to save energy.

P OT E N T I A L LY

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SOCIAL RESPONSIBILITYW e a r e p a r t o f t h e c o m m u n i t i e s w h e r e o u r b u s i n e s s u n i t s a r e b a s e d

• We frequently organize CSR actions in malls andoffices to disseminate and make visible the topics ofinterest of the society in general, such us inclusion andassistance to those most in need.

• The Foundation supports initiatives that enhance theinteraction between education and culture for thegrowth of society.

• During fiscal year 2020, Fundación IRSA worked with 92civil society organizations, making a direct socialinvestment of ARS 67 million.

72.5Social Group

InvestmentARS MILLION – FY 2020 92

Relationship with NGOs

FY 2020 141Active

volunteersFY 2020

5 Volunteer ProgramsFY 2020

Group Social ActionsFY 2020

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• During 2020, although remotely, we continue to be abridge between NGOs and the public and we´ve beenpart of SeamosUno Campaign delivering food andcleaning kits in COVID emergency

SeamosUno Campaign Fund's donation to deliver 14,000 food and cleaning kits in COVID emergency1996

• Our subsidiary IRSA CP, through the coordination ofIRSA Foundation was one of the five investors of thefirst Social Impact Bond of Argentina in which theState and companies work together to generateemployment conditions to extremely vulnerable youthin BA city

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F I N A N C I A L S

S T R O N G F I N A N C I A L T R A C K R E C O R D

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EVOLUTION BY TYPE OF ASSETS(USD MILLION)

EVOLUTION PER SQM(USD)

RENTAL ASSETS VALUATIONANNUAL EVOLUTION

1.769 1.728 1.387

807 669 533

296 337

334

459 827 725

2.064 2.064

1.721

1.267

1.495

1.257

FY16 FY17 FY18 FY19 FY 20 FY 21

Shopping Malls Offices

5.290 5.081

4.032

2.431 2.007

1.589

3.740 4.003 4.011 3.979

5.757

6.401

FY16 FY17 FY18 FY19 FY 20 FY 21

Shopping Malls Offices

OFFICIALFX

BLUE CHIP SWAP

4.035 3.718

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NET ASSET VALUEJUNE 30, 2021 - USD MILL ION

1,460 GAV 1,159 NAV 20.6% LTV

1. Book value as of June 30, 20212. Book value as of June 30, 2021. “Others” includes properties for sale and investment in Condor Hospitality Trust

990

1.460

1.159

27 56

387 301

IRCP NAV Hotels Banco Hipotecario Landbank & Others Gross Asset Value Net Debt Net Asset Value

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CAPITAL INCREASE

USD/ADS 4.32 or USD/share 0.432Warrant strike price

ARS 58.35 or USD 0.36Common shares´ Subscription Price

USD 3.60ADS Subscription Price

5 yearsWarrant maturity

April 16, 2021Record date

• In Argentina and/or abroad

that could represent an

opportunity for long-term

capital appreciation

OTHER BUSINESS OPPORTUNITIES

• Huge landbank to develop mixed

use projects in Argentina

REAL ESTATE DEVELOPMENTS

• Group shares trading at historical

minimum prices, highly discounted

• Opportunity to invest in subsidiaries

EQUITY INVESTMENTS DEBT CANCELLATION & WORKING CAPITAL IN ARGENTINA

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USE OF PROCEEDS

USD 28.8 millionFunds received

80.0 million shares(79.1 million preemptive right subscription &0.9 million from accretion rights)

+ 80.0 million warrantsfor 80 million additional new shares

658.7 million sharesIRSA new capital stock

+19%oversubscribed

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DEBT PROFILEJUNE 30, 2021 - USD MILL ION

AMORTIZATION SCHEDULEDOES NOT INCLUDE INTERCOMPANY DEBT

Description Amount Maturity

Short term debt 0.6 <360 days

Series VI 2.5 Jul-21

Series VII 33.7 Jan-22

Series X 7.3 Mar-22

Series V 9.2 May-22

Series IX 80.7 Mar-23

Series I 3.1 Mar-23

Series VIII 31.8 Nov-23

Series XI 15.8 Mar-24

Series XII 45.6 Mar-24

Intercompany Debt 69.9 Mar-22

Other Debt 8.8 Feb-22

GROSS DEBT 309.0

Cash & Eq. 8.0

NET DEBT 301.0

301 Stand Alone Net Debt

72,6 94,3

72,2

FY22 FY23 FY24 FY25

Credit Rating upgradeBy FIX (affiliate of Fitch Ratings)From A to AA

On August 26, 2021, we issued USD 58.1 MM in the local capital markets

• Series XIII (USD linked): at 3.9% fixed due 25% in August 2023, 25% in February 2024 and 50% in August 2024.

• Proceeds will be used to refinance short term debt

58,1

*IRSA CP owns IRSA bonds for ~ USD 50 million

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GROUP CAPITAL MARKETS TRACK RECORD

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1997 2000/1 2006 2008 2012

IRSA IPO CRESUD FOLLOW ON

BRASILAGRO IPO

APSA

2016/7 2018/9

LIABILITY MANAGEMENT

DEBT REFINANCING

CRESUD USD 246 MM

IRSA USD 227 MM

LOCAL MARKET DOLLAR LINKED ISSUANCES

USD 265 MM

NUMBER OF TRANSACTIONS AMOUNT ISSUED GROUP LISTED VEHICLES

+200 +USD 18bn New York, Buenos Aires,

& Sao Paulo

NON-DEFAULT HISTORY

Even in the worst Argentinean crisis (2001)

BA & NY LISTING

CRESUD US LISTING

Follow on

USD 92 MM

APSA IPO (now IRCP)

BA & NY LISTING

APSA & IRSA CONVERTIBLE NOTES

USD 276 MM

Company Foundation

USD 288 MM

Regional expansion

BRASILAGRO US LISTING

Tender offer IRSA bonds

New IRCP USD 360 MM bond

IRCP 8% SPO USD 138 MM

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1994

CAPITAL INCREASEBRASILAGRO USD 93 MM

CRESUD USD 45 MM

IRSA USD 29 MM

LOCAL MARKET ISSUANCES& DEBT EXCHANGES

USD 120 MM

COVID-19 PANDEMIC

DEBT EXCHANGES

USD 148 MM

2020 2021

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CONTACT US

OUR ADRESS

Della Paolera 261 9th floor

OUR EMAIL

ir@irsa.com.ar

OUR PHONE

(+54) 911 4323-7449

OUR WEBSITE

www.irsa.com.ar

TWITTER

@IRSAIR