IRSA Inversiones y Representaciones SA · BCBA:IRSA.CI

IRSA Inversiones y Representaciones SA — Q1 FY2027 Earnings Presentation

18 slides from IRSA Inversiones y Representaciones SA's earnings presentation, Nov 5, 2026

  1. Slide 1: FY 2026 IQ 2027 Conference Call

    FY 2026 IQ 2027 Conference Call September 7, 2026 November 5, 2026

  2. Slide 2: IQ 2027 Main Events & Subsequent

    IQ 2027 Main Events & Subsequent 1 IQ27 Net Loss of ARS 6,380 million Vs. ARS 217,952 million net gain in IQ26, mainly explained by the loss in the fair value of investment properties. 2 Rental Adj. EBITDA reached ARS 83,933 MM (-2% YoY) & record in USD terms Total Adj. EBITDA increased 9.3%, driven

  3. Slide 3: Shopping Malls – Solid Operating Figures

    Shopping Malls – Solid Operating Figures GLA (sqm) & Occupancy (%) Tenant Sales & IRSA Revenues IQ 27 Malls Revenues (ARS MM) (Quarterly Year-on-Year Variation in Real Terms) 97,979 97.6%* Tenant Sales Variable Rent 11.0% 96.8% 97.0% Other IRSA’s Revenues Parking 8.2% 0,9% Key Money +Brokerage Fee 1

  4. Slide 4: Office Buildings - Operating Metrics

    Office Buildings - Operating Metrics GLA (sqm) Leases (USD/sqm/month) & Occupancy (A+ & A)* 97.9% 100% 96.9% 88.5% 82.0% 82,708 26,1 25,9 25,5 61,742 25,3 59,271 58,074 58,553 25,1 IQ 23 IQ 24 IQ 25 IQ 26 IQ 27 IQ 23 IQ 24 IQ 25 IQ 26 IQ 27 *Excludes Class B assets (Philips building) 4

  5. Slide 5: Hotels - Operating Metrics

    Hotels - Operating Metrics Portfolio: Rate & Occupancy (USD/room & %) BA Hotels: Rate & Occupancy (USD/room & %) 69.9% 62.9% 60.3% 54.8% 50.4% 66.4% 66.1% 62.7% 58.0% 119 142 135 136 137 55.1% IQ 23 IQ 24 IQ 25 IQ 26 IQ 27 Llao Llao: Rate & Occupancy (USD/room & %) 82,6% 75,4% 67,0% 67,7% 267 256 62

  6. Slide 6: Real Estate Development Pipeline – Construction Progress

    Real Estate Development Pipeline – Construction Progress OESTE OUTLET – SHOPPING MALL DISTRITO DIAGONAL – SHOPPING MALL The First Outlet Destination in Western Greater Buenos Aires La Plata's First Large-Scale Shopping Mall RENDER WORKS RENDER WORKS Haedo, Greater Buenos Aires ~24,000 sqm GLA La Pla

  7. Slide 7: Ramblas del Plata: The Most Ambitious Development in BA City

    Ramblas del Plata: The Most Ambitious Development in BA City 870,000 278,000 STRATEGIC LOCATION Buildable sqm Green areas sqm 693,000 +10,000 Saleable sqm Family units

  8. Slide 8: Ramblas del Plata Mixed-Use Development: Infrastructure Progress

    Ramblas del Plata Mixed-Use Development: Infrastructure Progress

  9. Slide 9: Ramblas del Plata: Commercialization Progress

    Ramblas del Plata : Commercialization Progress Stage 1 + Extension 207k saleable sqm Extension Stage 2 + FO1 149k saleable sqm Stage 3 + A14 337k saleable sqm Stage 1 Commercialization progress 138.4 21 USD MM 2 Lots sold Sales & (45k saleable sqm) Barters price & 19 Swapped (175k saleable sqm) ~36k

  10. Slide 10: IRSA Financial Results

    IRSA Financial Results

  11. Slide 11: FX & Inflation Evolution

    FX & Inflation Evolution Official FX (Nominal) MEP FX (Nominal) 1521 1543 1% 1482 1517 1503 2% 24% 1380 15% 1205 1209 Inflation Index 12.514 FY27 FY26 FY27 FY26 6% 11.826 FY Beginning IQ FY Beginning IQ Official FX (Real) MEP FX (Real) 9.384 6% 8.856 1894 17% FY27 FY26 1739 8% FY Beginning IQ 1609 1

  12. Slide 12: IQ 27 – Operating Results by Segment

    IQ 27– Operating Results by Segment Adjusted EBITDA (ARS million) Rental Adjusted EBITDA Margin Shopping Malls Offices Hotels S&D + Others +9.3% IQ 26 IQ 27 Δ (bps) 76,209 83,304 Shopping 3,634 77.6% 76.1% -1.5 6,735 -6.2% 3,409 Malls 5,972 -11.3% Rental EBITDA Offices 83.0% 79.7% -3.3 -1.0% 83,933

  13. Slide 13: IQ 27 – Consolidated Operating Results (ARS million)

    IQ 27 – Consolidated Operating Results (ARS million) Operating Income (excluding fair value changes) Change in Fair Value of Investment Properties +3.8% 293,294 72,460 75,228 IQ 26 IQ 27 -74,236 IQ 26 IQ 27 13

  14. Slide 14: IQ 27 – Consolidated Financial Results (ARS million)

    IQ 27 – Consolidated Financial Results (ARS million) Net Financial Results Income Tax Net Result 217,952 -9,177 12,791 -31,942 -2,643 IQ 26 IQ 27 205,161 Key Drivers IQ 26 IQ 27 Var Net FX result -38,840 34,460 73,300 FV of financial -110,623 4,186 21,815 -25,983 -47,798 assets and liabilities -10,5

  15. Slide 15: Rental Adjusted EBITDA by Segment (USD million)

    Rental Adjusted EBITDA by Segment (USD million) Shopping Malls Offices Hotels 205 199 188 9 9 7 14 167 14 162 163 13 2 15 19 20 131 14 13 12 115 26 95 8 18 9 176 181 169 141 28 139 130 44 93 0 89 58 25 19 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 LTM IQ27 C O V ID - 1 9 15

  16. Slide 16: Debt Profile – September 30, 2026 (USD million)

    Debt Profile – September 30, 2026 (USD million) Debt Profile Amortization Schedule Gross Debt 659.3 Net Debt* 445.8 156.2 156.2 161.0 Debt Ratios Net Debt*/Rental 2.17x 87.9 EBITDA 46.8 51.5 LTV* 16.6% 75,8 12.4 Coverage Ratio Banking Debt 8.4x FY 27 * FY 28 FY 29 FY 30 FY 31 FY 32 FY 33 FY 34 FY 35

  17. Slide 17: Dividend Distribution

    Dividend Distribution Cash dividend approved on Oct-22, 2026 Dividends Evolution (In USD CCL Million) Nov-26 Cash Dividend 137.0 Amount ARS 211,000 MM 116.0 Per ordinary ARS 249.41046 share 77.6 Per GDS ARS 2,494.1046 Dividend yield 10.8% November 3, 2026 Payment Date (Nov 9th to ADR holders) FY 25

  18. Slide 18: Contact Information

    Contact Information NYSE Symbol: IRS | BYMA Symbol: IRSA Eduardo Elsztain Matias Gaivironsky Santiago Donato Chairman & CEO CFO Head of IR & ESG Corporate Offices Independent Auditors Della Paolera 261, 9th Floor PricewaterhouseCoopers Argentina Tel: +54 11 4323 7400 Tel +54 11 4850 0000 C1001ADA –

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