Institutional Presentation FY 2020

1 CRESUD AT A GLANCE DOING AGRIBUSINESS AND REAL ESTATE

LEADING AGRICULTURAL LISTED BOTH IN BUENOS COMPANY IN LATAM AIRES AND NEW YORK Managing an approximately 800,000 has Since 1960 in portfolio in Argentina, , and (BYMA:CRES) Paraguay. Since 1997 in New York (NASDAQ:CRESY)

PIONEER IN FARMLAND CONTROLLER OF IRSA REAL ESTATE Largest diversified real estate company State of the art farmer with proven in Argentina with assets in the US and track record rotating the portfolio. . Management of great experience and unique skills.

2 CORPORATE STRUCTURE

*

100% 100% 33.6% 33.6% 62.4% Farms in Farms in Farms in Farms in ARGENTINA BOLIVIA BRASIL PARAGUAY

Through

100% 50.1% 22.3% 80.7% 100% 83.7% 29.9% Indirectly Directly and Indirectly

3 *CRESUD additionally owns 2.6% of IRCP shares HISTORY AND CAPITAL MARKETS TRACK RECORD 83 YEARS HISTORY DOING AGRIBUSINESS ~800k ha (owned+leased)

Follow on USD 288 MM 2020 2012 IPO USD 276 MM 2008

2006

Follow on 1997 USD 92 MM New Management 17 USD BN Mr. Eduardo Elsztain - Chairman ISSUED Mr. Alejandro Elsztain - CEO 1994 Follow on USD 64 MM 200 TRANSACTIONS

13 LISTED 1960 COMPANIES

1936 NON-DEFAULT HISTORY Foundation Even in the worst Argentinean crisis (2001) 4 BUSINESS MODEL DIVERSIFIED AND REGIONAL

FARMING REAL ESTATE AGRICULTURAL SERVICES

WE PRODUCE CROPS, SUGARCANE PIONEERS IN FARMLAND REAL ESTATE LEADING AGRICULTURAL BROKER AND MEAT IN THE REGION BUSINESS IN LATINOAMERICA IN ARGENTINA

We promote productivity improvements by investing in new technologies such as high-yied, genetically modified seed, direct sowing techniques, machinery and renewable 50,1% energy CRESUD STAKE Proven track record in the acquisition, appreciation and ~400th ha ~260th ha sale of farms in its optimum productive level PRODUCTIVE IN THE REGION PLANTED AREA Urban ~830th ton PIONEER AGRIBUSINESS E-COMMECE

REGIONAL CROP PRODUCTION Specialties PLATFORM creation

Value Agriculture PREMIUM MEATPACKING PLANT 22,3% CRESUD STAKE Capacity: Cattle 12.500 monthly heads LA PAMPA – ARGENTINA Unproductive land Exports licenses: 100% UE, America & Asia (including China) Time CRESUD STAKE REGIONAL AGRICULTURAL PORTFOLIO 4% Brazil 153,368 ha 20%

40% 10% Hectares 56% 885,820 (Owned, LT 11% concession & Bolivia leased farms) 60% 9,875 ha 1% 40% Paraguay 48% 52% 59,585 ha 28% 8%

Argentina 536,589 ha 71%

51%

6 CRESUD PORTFOLIO EVOLUTION OWNED AND LONG - TERM CONCESION (TH. HA) +4.1% 0.1 1.9 4.5

28.9

1.1 0.1 Serra Grande PI

MT BA Alto Taquarí Jatobá Arrojadinho Río do Meio 759,3 763,7 761,8 761.8

731.6 730,5 730,4 730,4

Total Surface Jatobá Partial Sale Alto Taquarí Partial Sale Agrifirma's Merge Serra Grande Acquisition Alto Taquarí Partial Sale Jatobá Partial Sale Total Surface FY 2019 (IQ 20 - Sep 19) (IIQ 20 - Oct 19) (IIIQ 20 - Jan 20) (IVQ 20 - May 20) (IVQ 20 - Jun 20) (IVQ 20 - Jun 20) FY 2020 7 RECORD PLANTED AREA TH. HECTARES CROP BREAKDOWN HISTORICAL (FY 20) RECORD +6.5% 13% 11% 264 51% 248 10 Paraguay 14 24% 8 Bolivia 15 212 213 205 Soybean 200 202 199 Corn 183 179 101 Brazil Sugarcane 95 Others

142 141

82 74 65 131 139 Argentina 49 47 46 44 36 37 36 37 23 23 16

FY 95 FY 96 FY 97 FY 98 FY 99 FY 00 FY 01 FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 8 COVID-19 AGRIBUSINESS WORKING AS ESSENTIAL ACTIVITY PROTOCOL USED BY CRESUD IN ITS FARMS SECURITY AND HYGIENE PROTOCOL Security protocols and action procedures when identifying people with symptoms, applicable to own personnel and third parties. Implementation of safe work measures: safety distances, sectorization, dining shifts, use of face masks, increased frequency of cleaning, among others. Use of technological means to spread training material and medical advice.

FARMS ACCESS CONTROL Implementation of controls at the accesses to the farms carried out by nurses and / or surveillance personnel (control of body temperature of all the personnel and a disinfecting spray system for all type of equipment or vehicle that enters the farm).

SUSPENSION OF FARMS VISITS Suspension of trips and technical visits to the farms. The monitoring of the campaign is carried out in virtual form, through work meetings.

REDUCED TRANSPORT USE The company's vehicles are used at 50% of their capacity to transport personnel and with certain measures regarding their use. the transportation of employees living in the vicinity of the field has been reduced at 50% of their capacity too.

CHANGES IN THE WAY OF WORKING In this way, Cresud supports the measures ordered by the National Government to ensure Teleworking was implemented in different positions and functions the provision of basic supplies and food. Some third-party work is now provided by own staff, due to less accessibility

9 GOOD PRODUCTIVE RESULTS FOR 2020 CAMPAIGN

CROP PRODUCTION CROP YIELDS Th. tn Tn/ha Argentina Brazil +2.0% 6.3 6.1 Bolivia Paraguay 812 828 5.5 12 2924 24 536 203 310 23 21 116 2.6 2.9 2.7

557 482 376 Soybean

FY18 FY19 FY20 FY18 FY19 FY20E

SUGARCANE PRODUCTION MEAT PRODUCTION Tn/ha Th. Tn & Th units Brazil Bolivia 99 Recent ~20% +12.1% 94 59 cattle stock sale in 74 Argentina 2.411 11 2.150 172 1.898 146 4 67 11,783 2,485 2.239 1.831 2.004 10,566 11,173 9,298

FY18 FY19 FY20 FY18 FY19 FY20 10 MEATPACKING FACILITY MAIN EVENTS FOR FY 2020 RECORD VOLUME OF SLAUGHTER FIRST POSITIVE EBITDA Th. Heads 37.6% After five years losses (USD million) 1,5 116 107 101 84 86 77 -0,4

-4,7 -4,4 -5,6

-7,9 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

INCREASE IN EXPORTS 66% in Kg and 39% in value CHINESE MARKET HILTON QUOTA License obtained to access the market Right to export 1.399 Ton to EU World meat consumption by country with tariff exemption Source: USDA 2019 KOSHER BUSINESS OPTIMIZATION 100% fulfilled USA For Israel and USA markets 20% China 14% Others Brazil 40% 13% E.U. 13% 11 FARMLAND SALES TRACK RECORD USD MILLION

Jatobá Partial Sales Alto Taquarí Partial Sales 25 YEARS AVERAGE Date of sale IQ20 (Sep 19) IV20 (Jun 20) IIQ20 (Oct 19) IVQ20 (Jun 20) Farms sold 2.4 Total: 1,134 ha Total: 1,875 ha Total: 85 ha Total: 105 ha Area (hectares) Productive: 893 ha Productive: 1,500 ha Productive: 65 ha Productive: 105 ha Has sold 17 th. Acquisition Price + BRL 1.7 MM BRL 3.5 MM BRL 1.2 MM BRL 1.3 MM CAPEX % Portfolio sold 3% 302 bags/ha 300 bags/ha 1,100 bags/ha 1,100 bags/ha Nominal Sale Price Argentina USD IRR 16% BRL 22.7 MM BRL 45.0 MM BRL 5.5 MM BRL 11.0 MM IRR (BRL - USD) 14.7% - 7.0% 14.3% - 5.0% 21.4% - 13.0% 21.1% - 14.4% Brazil BRL IRR 22% 134 Bolivia USD IRR 15%

72

PROFIT 67 (USD MM) 62 46 BOOK VALUE 28 (USD MM) 34 26 60 21 21 62 20 39 19 14 34 5 13 13 17 12 8 14 13 7 - 7 7 2 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20

Farms sold 1 2 3 4 2 4 0 6 3 3 4

12 FARMLAND DEVELOPMENT & SALE CASES ADDING VALUE TO THE LAND

Current 1995 Investment valuation Cattle Acquisition Cattle land LOS POZOS USD 250/ha LARGEST FARMLAND 240,000 ha USD1,500/ha Salta - Argentina Crop APPRECIATION CASE USD 10/ha Crop land USD 650/ha IN ARGENTINA USD 2.500/ha

1997 HIGHEST Acquisition Investment Current AGRORIEGO PRODUCTIVITY 7,052 ha Technology valuation San Luis - Argentina CASE IN USD 700/ha USD 2,000/ha USD 10.000/ha ARGENTINA

2006 2015 LARGEST Acquisition Investment Sale Value CREMAQ 32,702 ha CAPEX FARMLAND SALE Piaui - Brasil BRL 233 mm BRL 42 mm BRL 33 mm IN BRASIL

13 AGRICULTURAL SERVICES TRADING, GATHERING & AGTECH

LEADING GRAIN BROKER IN ARGENTINA Traded Tonnes Evolution (Th. tn)

Market share en trading • Brokerage • Trading 2008-2009 2020-2021 • Derivatives • Gathering corn 2.0% 5.3%

• Exports • Consulting

618 122 259 558 655 735

3.030 1.259 1.487 1.733 1.684 2.001 2.241 3.307 3.940 5.132 4.018 wheat 1.2% 3.0% • Specialties • Portfolio Management • Logistics • Training soybean 0.7% 3.7%

LATAM EXPANSION PIONEER AGRIBUSINESS E-COMMERCE PLATFORM • The world most visited agribusiness platform

• ~41 mm annual visits & 1,250 k monthly contacts 2020 Annual visits (Th.) Monthly contacts Revenues (USD) 2020 1.252.557 2.612.319 2018 41.021 +109% +43% +104% 1.821.767 1.463.603 20.137 598.489 2020 2020 2020 11.575 418.192 2019

2020 Jun-18 Jun-19 Jun-20 Jun-18 Jun-19 Jun-20 Jun-18 Jun-19 Jun-20

Central Hub 14 INVESTMENT IN IRSA ARGENTINE LEADING DIVERSIFIED REAL ESTATE COMPANY

LEADING DIVERSIFIED REAL ESTATE UNIQUE PORTFOLIO AND STRONG INVESTMENTS IN THE US AND COMPANY MARKET POSITION IN ARGENTINA ISRAEL UNIQUE PORTFOLIO AND STRONG MARKET POSITION

ARGENTINA ISRAEL BUSINESS CENTER BUSINESS CENTER

80.7% HOTELS LANDBANK 29.9% 18.9% 100% 83.7% Indirectly Directly and Indirectly

*CRESUD additionally owns 2.6% of IRCP shares 15 Expanding Corporate North Area Business Center IRSA COMMERCIAL PROPERTIES AAA Location Back Office Center ARGENTINA BUSINESS CENTER 200 Della Paolera (FY 2020) EBITDA est. ~USD 10-12 MM

High income Area Mid Income Area Low Income Area

16 Financial Performance

17 AGRIBUSINESS ADJUSTED EBITDA LAST 3 YRS EVOLUTION – USD MILLION

Agribusiness Adj. EBITDA Others 105 FY 2020 Farming FY 20 10% 66% Adj. EBITDA by segment

Farmland sales 24%

93 105 75 36% FY 20 Adj. EBITDA by Company FY 18 FY 19 FY 20 64%

18 DEBT PROFILE JUNE 30, 2020 - USD MILLION

Subsequent Local issuance Description Amount Maturity Stand Alone Net Debt 25 Rate: 2.0% fixed 420.1 Maturity: August 31, 2023

Banking debt 144.8 AMORTIZATION SCHEDULE Series XXIV 73.6 Nov 2020

Series XXVI 15.5 Jan 2021 246.7 Series XXVIII 27.5 Apr 2021 163.0 Series XXVII 5.7 Jul 2021 113.0

Series XXV 59.6 Jul 2021 Cash & Equivalents USD 102.6

Series XIX 83.0 Dec 2021 FY 2021 FY 2022 FY 2023

Series XXIII 113.0 Feb 2023 Central Bank Resolutions A “7105” & “7106”:

GROSS DEBT 522.7 ▪ Companies must refinance principal maturities operating between October 15, 2020 and March 31,2021. ▪ The BCRA will give access to the official FX up to 40% of the total amount and companies must refinance the Cash & Equivalents1 102.6 remaining balance to an average term of at least 2 years. ▪ The refinancing plan must be submitted prior to September30, 2020. NET DEBT 420.1 ▪ The maturity of Series I falls within the period contemplated by the provision, as well as other bank debt.

1 Cash & Cash Equivalents + Investments in Financial Currents Assets 19 Thanks

20