Cresud SaBCBA: CRES

Latin Securities Argentine Day (Londres) Octubre 2025

Oct 13, 2025 at 2:27 PM UTC · Issued by Cresud SA

Investor Presentation Latin Securities Argentine Day

London, October 2025

Leading Real Estate Company in Argentina

30 years acquiring,

developing and operating Real Estate

YEARS

IRSA

Rental portfolio of

+500,000 sqm of GLA across Argentina

BYMA

16 - 370,897 sqm

5 - 58,074 sqm

3 - 718 rooms

5 projects Launched

15 - ~6mm buildable sqm

DEVELOPMENT SEGMENT

RENTAL SEGMENT

Banco

Hipotecario

29.2% stake

FINANCIALS

Premium Portfolio in Top-tier Locations

Shopping Malls

16 Shopping Malls

DOT Baires Shopping

Low Income Area

Middle Income Area

High Income Area

371

sqm of GLA

(in thousands)

Soleil Premium

Alto Noa

Salta

Córdoba Shopping

Córdoba

Patio Olmos

Córdoba

Ribera Shopping

Santa Fe

Mendoza Plaza

Shopping

Mendoza

Alto Rosario

Santa Fe

Autonomous City of Buenos Aires

Alto Comahue

Shopping

Neuquén

Outlet

Terrazas de Mayo

Distrito Arcos

Alcorta Shopping

1,566

Stores

(in thousands)

98%

Occupancy Rate*

67%

Market Share

in the City of Buenos Aires

6 Provinces

*Does not include Terrazas de Mayo occupancy, recently acquired (81.7%)

Alto

Palermo

Alto Avellaneda

Abasto Shopping

Patio Bullrich

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)

Shopping Malls' Portfolio Growth: Acquisitions & New Developments

Terrazas de Mayo

Shopping Mall

USD 27.75 mm

Stands

Stores

~33,720

Sqm GLA

Projected GLA (Th. Sqm)

+10.4%

33.7

336

371

+14.8%

426

22.0 Distrito Diagonal

32.7 AA Adjoining Plot

Adjoining Plot

Development

FY 24 FY 25 FY 28E

Alto Avellaneda Mall

USD 12.2 mm

ACQUIRED

PROPERTY

FUTURE MALL EXPANSION

86,861

Total sqm

32,660

Built sqm

Distrito Diagonal

La Plata City

ALTO AVELLANEDA SHOPPING MALL

Ranking of Alto Avellaneda within our portfolio:

#4 Sales / GLA / Visitors

22,000

Sqm GLA

Est. Investment

USD 45 mm

Est. Opening

1H 2027 5

Rental Revenue Model

ARS Linked To Inflation (Shopping Malls)

Revenue Breakdown:

78% Rental Revenue: The company collects the highest between a % of tenant monthly sales and a minimum rent (base rent).
22% Other Revenues: Other revenues include key money, brokerage fee, stands, parking and non-traditional advertising.

ARS

Key Money Brokerage Fee

In Advance

Year 1 Year 2 Year 3

Variable (34%)

Fixed (44%)

14%

10%

Tenants by

category

(m2of GLA)

45%

22%

Clothing and footwear

Entertainment

Restaurants

Electrical appliances

Services

Other

Revenues from food, beverage & others

Office Buildings

Tech/E-commerce

•

25%

3-year average term

Hotels

Revenues from rate

Oil and Gas

•

US Dollar based

USD Linked (Office Buildings & Hotels)

Tenant by

industry

•

Rental rates for renewed terms are

negotiated at market conditions

(m2of GLA)

60%

Health Care

Other

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%

96,5%

99,0% 98,5% 98,5%

3.336.582

94,7%

93,2%

93,1%

97,4%

3.298.765

96,7%

97,7%*

-2,8%

3.034.588

3.023.307 3.076.254

2.597.368

89,9%

2.843.425

3.151.757 3.062.900

1.924.235

1.385.564

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 7

*Does not include Terrazas de Mayo occupancy, acquired in Dec-24 (88.9%) 7

4.500

145

IIIQ25

Following Market Prices Trends

Capital Controls Period

Offices GLA (th. sqm)

7.811 7.868

7.696

7.884

Premium office Price (USD CCL/sqm)

6.634

164

Premium office Price (Official USD/sqm)

138

156

151

140

5.537

5.367

5.000

5.216

4.900

115

5.198

4.552

4.500

131

5.000

122

4.900

116

3.800

113

4.500

113 4.000 4.000 4.000

3.500

3.700

3.800

4.200

4.000

2.360

2.050

1.190

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

770

710

3.800

100%

Occupied

IRSA's Office Portfolio Evolution

Acquisitions

Sales

Developments

Sales

Bouchard 710

República

BankBoston

El Rulero

Dique IV Zetta

200 Della Paolera

Bouchard 710

BankBoston

Intercontinental Bouchard Plaza

Maipú 1300

República

Suipacha

200 Della

Paolera 8

Launch of Ramblas del Plata: IRSA's Most Ambitious Project in BA City

Premium Location

South Puerto Madero

870,000

Buildable sqm

Commercialization progress

693,000

Saleable sqm

Mixed-uses

Potential

under signing process

Stage 1 + Extension: Commercialization Progress

RAMBLAS DEL PLATA

Extension

Stage 1

Bahia

September 2025

13 81 ~111 k

2 Lots sold & 11 Swapped

Sales & Barters price

(in USD million)

Combined saleable area

(sqm)

Signed agreements Under signing process Under negotiation

~53 k

Remaining saleable area

(sqm)

Company analysis