IRSA Inversiones y Representaciones SA · BCBA:IRSA.CI
IRSA Inversiones y Representaciones SA — Investor Presentation (September 2025)
23 slides from IRSA Inversiones y Representaciones SA's investor presentation, September 2025
Slide 1: Institutional Presentation FY 2025
Institutional Presentation FY 2025
Slide 2: Leading Real Estate Company in Argentina
Leading Real Estate Company in Argentina 30 years acquiring, Rental portfolio of IRSA developing and 75 +500,000 sqm of GLA YEARS BYMA operating Real Estate across Argentina RENTAL SEGMENT DEVELOPMENT SEGMENT FINANCIALS Banco Hipotecario 16 - 370,897 sqm 5 – 58,074 sqm 3 – 718 rooms 5 projects Launc
Slide 3: Premium Portfolio in Top-tier Locations
Premium Portfolio in Top-tier Locations Shopping Malls Low Income Area Middle Income Area 16 Shopping Malls Alto Noa Salta DOT Baires Shopping High Income Area Córdoba Shopping Soleil Premium Córdoba Outlet 371 sqm of GLA (in thousands) Distrito Arcos Terrazas de Mayo Alcorta Shopping Patio Olmos Ri
Slide 4: Premium Portfolio: Shoppings
Premium Portfolio: Shoppings Alto Palermo (City of Buenos Aires) Abasto (City of Buenos Aires) DOT Baires (City of Buenos Aires) Distrito Arcos (City of BA) Alto Comahue (Neuquén) Patio Bullrich (City of BA)
Slide 5: Premium Portfolio: Offices
Premium Portfolio: Offices Top-Tier Locations Philips Building 5 DOT Building Zetta Building Office Buildings 200 Della Paollera 58 Zetta Building (City of Buenos Aires) sqm of GLA (in thousands) 100% A & A+ Occupancy Rate ~7% Intercontinental Plaza Expanding Corporate Area Market Share AAA AAA Loca
Slide 6: Premium Portfolio: Hotels
Premium Portfolio: Hotels Top-Tier Locations 3 Premium Hotels 79 sqm of GLA Llao Llao Resort (Bariloche, Patagonia) (in thousands) Libertador Hotel Autonomous City Of Buenos Aires 2 Provinces Intercontinental Hotel Autonomous City Of 67% Occupancy Rate Buenos Aires Llao Llao Resort 718 Rooms Bariloc
Slide 7: Rental Revenue Model
Rental Revenue Model ARS Linked To Inflation (Shopping Malls) ARS 14% Revenue Breakdown: Variable (34%) 5% • 78% Rental Revenue: The company 4% Tenants by collects the highest between a % of category 45% tenant monthly sales and a 10% (m2 of GLA) minimum rent (base rent). • 22% Other Revenues: Other
Slide 8: Shopping Malls Operating Figures
Shopping Malls Operating Figures Tenant Real Sales (ARS MM) & Occupancy (%) ∆ trim i.a. IQ 25 -12.1% IIQ 25 -8.5% IIIQ 25 +13.4% IVQ 25 +3.2% 99,0% 98,5% 98,5% 97,4% 97,7%* 96,5% 96,7% 94,7% 93,2% 93,1% -2,8% 3.336.582 3.298.765 3.076.254 3.151.757 3.062.900 3.034.588 3.023.307 89,9% 2.843.425 2.597
Slide 9: Shopping Malls' Portfolio Growth: Acquisitions & New Developments
Shopping Malls’ Portfolio Growth: Acquisitions & New Developments Terrazas de Mayo 20 Projected GLA (Th. Sqm) Shopping Mall USD 27.75 mm Stands +14.8% +10.4% 426 86 22.0 Distrito Diagonal 371 32.7 AA Adjoining Plot Stores 336 33.7 ~33,720 Sqm GLA FY 24 FY 25 FY 28E Adjoining Plot Development Alto Av
Slide 10: Office Buildings Operating Figures
Office Buildings Operating Figures Stock (GLA: Sqm) Leases (USD/sqm/month) & Occupancy A+ & A1 IIQ 25 100% 100% 99.6% 113,291 Office Sales 97.9% 95.5% 83,892 200 Della Paolera 74,392 IVQ 24 IQ 25 IIQ 25 IIIQ 25 IVQ 25 1 Floor 59,348 58,074 25.4 25.3 25.1 25.2 25.2 FY 21 FY 22 FY 23 FY 24 FY 25 IVQ 2
Slide 11: Hotels Operating Figures
Hotels Operating Figures Hotels Portfolio Rate & Occupancy (USD/room & %) BA Hotels: Rate & Occupancy (USD/room & %) 62,8% 62,1% 62,7% 31,7% 66,8% 8,3% 64,2% 133 150 147 60,9% 78 99 FY 21 FY 22 FY 23 FY 24 FY 25 40,1% COVID-19 Llao Llao: Rate & Occupancy (USD/room & %) 12,2% 76,7% 69,3% 61,2% 56,5%
Slide 12: Strong Real Estate Activity During FY25
Strong Real Estate Activity During FY25 “Del Plata Building” Trust - Residential Development • FY25: Commercialization progress: more than 50 units already sold. IRSA is the project developer and owns ~15% of the saleable sqm ~ USD 50 MM 35,000 14 720 4 Downtown BA Construction Investment Saleable s
Slide 13: Launch of Ramblas del Plata: IRSA's Most Ambitious Project in BA City
Launch of Ramblas del Plata: IRSA’s Most Ambitious Project in BA City Premium Location South Puerto Madero Commercialization progress 870,000 Buildable sqm 693,000 Saleable sqm Mixed-uses Potential under signing process
Slide 14: Stage + Extension: Commercialization Progress
Stage 1 + Extension: Commercialization Progress RAMBLAS DEL PLATA Stage 1 September 2025 Extension 13 2 Lots sold & 11 Swapped Bahia Sales & Barters price 81 (in USD million) Combined saleable area ~111 k (sqm) Signed agreements Under signing process ~53 k Remaining (sqm) saleable area Under negotia
Slide 15: Landbank Portfolio
Landbank Portfolio RAMBLAS DEL PLATA INTERCONTINENTAL PLAZA II PASEO COLÓN FORMERLY COSTA URBANA (OFFICES) (MIXED USES) (MIXED USES) Autonomous City of Buenos Aires, Autonomous City of Buenos Aires, Autonomous City of Buenos Aires, Argentina Argentina Argentina GLA surface sqm: 19,597 Buildable area
Slide 16: Argentine Residential Real Estate Industry Potential
Argentine Residential Real Estate Industry Potential Total Mortgages Compared To Other Countries Deeds Evolution in Buenos Aires City (as a % of GDP) 7.861 7.667 47,8% 40,8% 26,7%24,9% 16,5% 13,5% 9,4% 4,1% 3,7% 3,2% 2,1% 0,5% ~300k abr-11 abr-14 jul-16 abr-17 abr-20 abr-23 jul-10 jul-13 jul-19 jul-
Slide 17: ESG Latest Achievements
ESG Latest Achievements ENVIRONMENTAL PROGRESS GREEN BUILDINGS 3 New Malls With Solar Panels in Continuing the shift to LED lighting addition to Mendoza Plaza now present in +90% of shopping malls. Waste management in the Circular Economy Network of the Government of the Autonomous City of Buenos Ai
Slide 18: Financial Results
IRSA Financial Results 1 Gats0 UNL NNN UE ata wenn shan a AEE itd UNL UNL MN te uutee ante tet? <0 nue anne H0076 "08 nue anne 100% in noses watae 206 ii
Slide 19: Rental EBITDA Evolution By Segment (In USD million)
Rental EBITDA Evolution By Segment (In USD million) Shopping Malls Office Buildings Hotels +15.3% 188 171 170 7 165 162 167 163 13 1 1 17 20 2 15 21 19 20 131 14 13 12 115 26 95 18 9 169 154 149 28 143 141 139 130 44 93 0 89 58 25 19 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 C OV I D -
Slide 20: Book Net Asset Value (NAV)
Book Net Asset Value (NAV) 1 USD Million RAMBLAS DEL PLATA • Land Reserves: 347 • Barter Agreements: 73 Total 420 26 LTV 8.7% 127 194 133 521 37 177 2.225 2.031 Market Cap 1.203 1,100 P/NAV 0.56x Shopping Malls Offices Hotels Land reserves Properties for Banco JV, Investees & Gross Asset Net Debt Ne
Slide 21: Debt Profile – June 30, 2025
Debt Profile – June 30, 2025 – USD million Debt Profile Amortization Schedule Series XXIV International Issuance + Series XIV Partial Exchange • Amount: USD 300 MM Gross Debt 527.4 • Interest Rate: 8,0% • Term: 10 years • Amortization: 33% in 2033, 33% in 2034 & 34% in 2035 Net Debt 194.3 Debt Ratio
Slide 22: IRSA Dividends Distribution & Shares Buyback Programs
IRSA Dividends Distribution & Shares Buyback Programs Recent Cash Dividend Distribution (in USD CCL million) Recent Repurchase Programs (in USD CCL million) Dividend Yield USD MM % of Social Capital USD MM FY 23 (nov-22) ~4.5% 14 FY 22 – FY 23 1.16% 3.8 FY 23 (may-23) ~13% 50 FY 23 – FY 24 1.06% 7.1
Slide 23: Contact Us
Contact Us Our Website Our Email Our Phone Our Address Our Twitter www.irsa.com.ar ir@irsa.com.ar (+54) 911 4323-7449 Della Paolera 261 @IRSAIR 9th floor
IRSA Inversiones y Representaciones — Investor Presentation (September 2025) on 6ix