Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y Agropecuaria : Conference Call Presentation | IIIT 2026

About this update from Cresud Sa

‌IIIQ 2026 Conference Call May 8, 2026 Hosted by: Alejandro Elsztain, CEO Matias Gaivironsky, CFO Maximizing Agricultural Potential ‌Key Highlights for 9M26 2026 Campaign Progressing with Record Planted Area (both in owned & leased farms) Favorable weather conditions overall, except for some regions where we operate, mainly in Brazil Rising Commodity Prices and Input Costs Reduction in export taxes supported prices in Argentina. Global Geopolitical Context Boosted Fertilizer and Fuel Costs Argentina: Strong Crop Production Results Record wheat production and good development of summer crops (soy C corn) support strong yields and production levels BrasilAgro: Lower Production Results, Mainly in Sugarcane Adverse weather events in certain regions impacted yields and margins in some crops Livestock: Record Cattle Prices, Margins and Production Ongoing intensification through feedlots in Salta and La Pampa Real Estate: Subsequent sale of a 921-hectare farm fraction in Paraguay for USD 1.5 mm USD 181.4 Million Notes Issuance in the Local Capital Market During IIIQ 26 and subsequently, lowering the average financing cost for the company and extending tenor 1 2 3 4 5 6 7 2 ‌Planted Area Evolution (Th. Ha) Crop Breakdown Leased to 3rd parties Paraguay Brazil Argentina 278 262 14 226 10 283 24 220 220 217 279 24 13 14 283 28 277 21 1 7 1 299 18 12 6 312 18 1 6 2 14 11 12 197 213 208 13 12 181 101 123 123 106 109 109 120 139 129 119 123 119 139 152 Bolivia SOYBEAN +4.2% 50% CORN 27% OTHERS 8% SUGARCANE 9% WHEAT 6% FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26E FY 2026 - Regional Planted Area ‌USD cents per bushel 2.400 2.200 SOYBEAN BOOM POST-COVID & RUS/UKR WAR Soybean Real Terms Soybean Nominal Terms Corn Real Terms Soja Real Soja Nominal Maiz Real Maiz Nominal Corn Nominal Terms May 5, 2026 Since IIQ26 Nominal Δ YOY Nominal Δ SOYBEAN +15.9% +15.1% CORN +5.7% +4.3% 2.000 1.800 1.600 CORN 1.400 1.200 1.000 800 600 400 200 Commodity Price Trends - Nominal & Real Terms Record wheat production and good development of summer crops (soy & corn) in Argentina support strong yields and production level Adverse weather events in certain regions affected production, mainly in sugarcane. ‌Good Regional Weather Conditions Harvest Progress May-25 Soybean Corn Argentina 7.0% 16.0% Bolivia 100.0% - Brazil 100.0% 1.0% Paraguay 25.0% 0.0% Total Region 54.0% 11.0% 2026 Campaign - Climate Conditions and Harvest Progress ‌Crop Production (th. tn) Sugarcane Production (th. tn) +22.6% 2,150 2,411 172 2,215 2,123 2,039 2,053 2,153 1.017 813 828 844 798 763 829 707 432 596 568 589 612 469 536 350 311 435 483 359 362 368 304 478 533 585 439 401 403 461 Region 146 105 2,239 2,110 147 182 111 1,919 112 118 Bolivia Argentina 2,004 1,976 1,942 1,807 2,035 Brazil 1,857 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26E FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26E Crop Yields (Tn/ha - regional average) Crop Yields (by Country) 6,28 6,21 6,38 5,47 5,57 5,93 5,09 5,50 Soybean Yield (tn/ha) FY 25 FY 26E Var. % Argentina 2.29 2.59 +13% Brazil 3.13 3.30 +5% Bolivia 1.03 1.67 +63% Paraguay 0,93 2.58 +178% Region average 2.60 2.89 +11% Corn Yield (tn/ha) FY 25 FY 26E Var. % Argentina 5.25 5.85 +11% Brazil 6.31 6.53 +4% Bolivia - - - Paraguay 3.22 4.36 +36% Region average 5.50 5.93 +8% Corn 2,86 2,70 2,76 2,96 2,56 2,71 2,60 Soybean 2,89 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26E 2026 Campaign: Agricultural Production Forecast ‌ International Steer Prices (Export) Livestock Inventory Evolution in Argentina (Million heads) 704,119 heads (USD/Kg carcass) 27,3 *Argentina: Price adjusted by tax exports and export FX Expansion of a 3,000-head feedlot (El Tigre - La Pampa) Already under operation Cattle Inventory, Production and Livestock M argin 57,6 59,7 61,7 *Source: Globaltecnos as of Apr-26 Cattle Heads (Thousands) Production (MM kg) Gross Margin (USD MM) 53,4 7,38 3,20 8,02 8,34 9,43 8,79 10,68 FY 23 FY 24 FY 25 FY 26E 7 Strong Livestock Activity in Argentina ‌Business Segments Traded Volumes and Market Share Evolution (million & %) 7,56 7,60 6,44 6,65 5,76 6,83 6,10% 5,10 5,48 4,00 3,03 3,31 2,93% 2,97% 3,95% 4,71% 4,42% 5,65% 5,60% 6,41% 8,24% 15-16 16-17 17-18 18-19 19-20 20-21 21-22 22-23 23/24 24/25 25/26E Notes Issuance for USD 28 MM (Jan-26) Series IV Class A (USD) Amount : USD 21 MM Interest Rate : 7.9% Interest Payment: Quarterly Maturity : Jul-27 Series IV Class B (USD linked) Amount : USD 7 MM Interest Rate : 8,5% Interest Payment: Semiannual Maturity : Jan-27 EBT Evolution (USD million) Net Income (ARS million) 25,1 25,1 26,5 15,2 12,0 10,6 5,1 7,6 2,6 28,2 11,172 7,758 15-16 16-17 17-18 18-19 19-20 20-21 21-22 22-23 23-24 24/25 9M25 9M26 Agricultural Commercial Services Performance (51.2% stake) ‌9M26 Main Events Adjusted EBITDA by Segment (ARS million) 1 9M 26 NET GAIN OF ARS 239,741 MM Strong performance across all rental segments 2 SHOPPING MALLS: INCREASE IN REVENUES & EBITDA 3 PREMIUM OFFICE PORTFOLIO: 100% OCCUPANCY AND SLIGHT INCREASE IN RENTS 4 HOTELS: IMPROVEMENT IN RATES, OCCUPANCY AND MARGINS 5 LAUNCH OF NEW OFFICE DEVELOPMENT FOR MERCADO LIBRE Expansion and Integration with Zetta Building at Polo Dot Complex 6 RAMBLAS DEL PLATA: DEVELOPMENT AND COMMERCIALIZATION PROGRESS 2 additional lots swapped for USD 11.3 MM (13,286 saleable sqm) Shopping Malls Office Buildings Hotels S&D + Others +3.5% 205,642 212,798 +37.4% -19,529 -16,401 199,993 196,144 +2.0% +14.8% 14,389 16,523 11,510 15,811 9M 25 9M 26 Investment in IRSA - Performance Overview (53.44% stake) ‌Financial Results ‌Nominal Official FX Evolution Nominal MEP FX Evolution 1205 15% 6% 5% 1380 6% 971 1455 1032 -5% 4% 1382 1074 Inflation Index Evolution 15% 1348 1209 24% -10% 1503 1483 -1% 1214 -4% 18% 12% 1423 -3% 18% 1314 912 FY26 FY25 10121 11077 25% 9% -4% 1168 FY26 FY25 FY Beginning IQ IIQ IIIQ Real Official FX Evolution 1629 1592 8% 8856 6352 6% 12% 8% 9384 8% 7122 7694 9% 8353 FY Beginning IQ IIQ IIIQ Real MEP FX Evolution 32% 1507 1272 -5% -2% 1207 1188 -2% -13% -4% 1382 -8% 1139 FY26 FY25 FY Beginning IQ IIQ IIIQ 1880 1512 -20% 17% 1774 1510 -9% -11% 1623 1344 -12% +4% 1423 -26% -6% 1393 -10% FY26 FY25 FY Beginning IQ IIQ IIIQ FY26 FY25 FY Beginning IQ IIQ IIIQ 11 FX & Inflation Evolution ‌Agribusiness (ARS million) Farming (ARS million) Farmland sales Farming 33,141 5,696 -26,894 -23,206 12,994 12,532 -7,152 -2,636 Grains 9M 25 -7,253 9M 26 -29,783 Var % 310.6% Sugarcane 11,483 -3,729 -132.5% Cattle 8,318 10,651 28.0% Agriculture Rent & Service -16 -345 - Total 12,532 -23,206 -285.2% FyO Others 13,090 -5,689 9M 25 9M 26 9M 26 - Agribusiness Results by Segment ‌Operating Income (excluding fair value changes) Change in Fair Value of Investment Properties -6.4% 31,216 180,372 192,641 -182,253 9M 25 9M 26 9M 25 9M 26 9M 26 - Consolidated Operating Results (ARS million) ‌Net Financial Result Net Result 115,317 90,518 231,308 121,665 30,061 47,297 109,643 9M 25 9M 26 Key Drivers 9M 25 9M 26 Δ Net FX Result 77,564 146,181 68,617 Net Interests -49,292 -99,157 -49,865 Change in FV of Financial Assets & Liabilities 91,066 45,991 -45,075 Other Net Financial Results -26,843 -22,073 4,770 Inflation Adjustment 22,822 19,576 -3,246 77,358 9M 25 9M 26 Controlling interest Non-Controlling interest 9M 26 - Consolidated Results (ARS million) ‌Net Debt Evolution Amortization Schedule Gross Debt 393.1 Series LII (abr-26): Rate: 4,75% Amount: USD 41.2M Maturity: apr-28 Series L (Jan-26) Rate: 4,75% Amount: USD 40.8M Maturity: mar-29 -17% 421 383 396 355 351 298 Series LI (Jan-26): Amount: USD 46.8 MM Rate: 5.75% Maturity: jan-26 178.5 40.8 Series LIII (apr-26): Rate: 6,25% Amount: USD 23M Maturity: apr-30 109.7 55.1 41.2 46.8 96.3 25.8 22.8 Banking Debt 3.0 23.0 62.9 FY 21 FY 22 FY 23 FY 24 FY 25 IIQ 26 FY 26 FY 27 FY 28 FY 29 FY 30 Warrants Expiration (Mar-26) Warrants exercised in Feb-26: 48,057,889 Total Warrants exercised: 98.2% Total Shares Outstanding: 709,308,309 ordinary shares Local Notes Issuances During IIIQ 26 and subsequently we issued USD 181.4 million in four series, lowering the average financing cost for the company and extending tenor Standalone Debt Profile as of March 31, 2026 (USD million) ‌Contact Information Alejandro Elsztain CEO Matías Gaivironsky CFO Santiago Donato Head of IR & ESG Corporate Offices Independent Auditors https://www.cresud.com.ar [email protected] +54 911 4323-7449 @CRESUDIR Della Paolera 261, 9 th Floor C1001ADA - City of Buenos Aires, Argentina Tel: +54 11 4323 7400 PricewaterhouseCoopers Argentina Bouchard 557, 7 th Floor C1106ABG - City of Buenos Aires, Argentina Tel: +54 11 4850 0000 Investing in all equities, including natural resources and real estate-related equities, carries risks which should be taken into consideration when making an investment. This institutional presentation contains statements that constitute forward-looking statements, in that they include statements regarding the intent, belief or current expectations of our directors and officers with respect to our future operating performance. You should be aware that any such forward looking statements are no guarantees of future performance and may involve risks and uncertainties, and that actual results may differ materially and adversely from those set forth in this presentation. We undertake no obligation to release publicly any revisions to such forward-looking statements to reflect later events or circumstances or to reflect the occurrence of unanticipated events. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements can be found in the companies' Forms 20-F for Fiscal Year 2025 ended June 30, 2025, which are available for you in our websites.

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