IRSA INVESTMENTS & REPRESENTATIONS Business Summary

IRSA Inversiones y Representaciones S.A. (IRS) is Argentina’s largest and most diversified real estate company, primarily generating revenue through a mix of inflation-linked lease agreements, service fees, and strategic property divestments. The company operates across five core business segments: Shopping Malls, which serves as its primary revenue driver through the management of iconic assets like Alto Palermo and Abasto Shopping; Offices, maintaining a premium portfolio with near-total occupancy; Hotels, featuring luxury brands such as Intercontinental and Llao Llao; Sales and Developments, focused on residential projects and land reserves; and Others, which includes entertainment and financial interests. Within the Argentine market, IRSA maintains a dominant position as the undisputed leader in commercial real estate, outscaling direct competitors such as Consultatio, RAGHSA Sociedad Anónima, and Continental Urbana through its superior asset density and integrated urban development strategy. The company is led by Chairman and CEO Eduardo Sergio Elsztain, a central figure in Latin American finance who transformed IRSA from a small firm into a real estate powerhouse in the 1990s with early backing from George Soros. Elsztain is supported by a long-tenured executive team including First Vice Chairman Saul Zang, a legal expert in corporate restructuring, and CFO Matias Ivan Gaivironsky, who oversees the firm’s complex international capital market operations. The leadership team brings deep institutional pedigree, with Elsztain also chairing Cresud and Banco Hipotecario, and serving as a co-founder of Endeavor Argentina. IRSA is controlled by the agricultural giant Cresud S.A.C.I.F. y A., which holds a majority stake of approximately 55.6%, while maintaining significant institutional backing from global investors such as Helikon Investments and VR Advisory Services.