Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Unaudited Condensed Interim Consolidated Financial Statements as of March 31, 2025 and for the nine and three- month periods ended as of that date, presented comparatively. Legal information Denomination: Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Fiscal year N°: 92, beginning on July 1, 2024 Legal address: Carlos Della Paolera 261, 9rd floor – Autonomous City of Buenos Aires, Argentina Company activ ...

BUENOS AIRES, Argentina, May 9, 2025 /PRNewswire/ -- Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today its results for the third quarter of FY 2025 ended March 31, 2025.HIGHLIGHTS The net result for the nine-month period of the 2025 fiscal year recorded a profit of ARS 57,895 million, compared to a loss of ARS 39,987 million in the same period of 2024. The adjusted EBITDA of the segments that make up the agricultural business was ARS 31,072 million, ...

Institutional Presentation IIQ 2025 55.8% Farms in Argentina 100% 29.2% 61.3% FLOAT 35.4% 51.2% 17.7% Farms in Brazil, Bolivia & Paraguay Agricultural Commercial Services Agribusiness Marketplace Urban Business +34,86% 2 Leading Agribusiness In The Region Since 1994 20 866 Historical Milestones 1936 1994 1997 2006 2008/9 2012 1960 2020/21 Foundation Current Management Takes Control Expansion to Brazil IPO USD 276 MM BrasilAgro listed on NYSE Listed on BYMA Listed on NADAQ Expansion to Bolivia & Paraguay Fol ...

Unaudited Condensed Interim Consolidated Financial Statements as of December 31, 2024 and for the six and three- month periods ended as of that date, presented comparatively. Legal information Denomination: Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Fiscal year N°: 92, beginning on July 1, 2024 Legal address: Carlos Della Paolera 261, 9rd floor – Autonomous City of Buenos Aires, Argentina Company activity: Real estate and agricultural activities Cresud Sociedad Anónima, Come ...

Group 1 - The core investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective rather than market-driven dynamics [1] - The articles emphasize understanding the long-term earnings power of companies and the competitive dynamics within their industries [1] - The majority of recommendations will be holds, indicating a cautious approach to investment opportunities [1] Group 2 - A very small fraction of companies are considered suitable for a buy recommendation at any given time, highlighting a selective investment strategy [1] - Hold articles are intended to provide valuable information for future investors and introduce skepticism in a generally bullish market [1]

Core Insights - Cresud S.A.C.I.F. y A. reported a significant loss of ARS 64,391 million for the first half of FY 2025, primarily due to changes in the fair value of IRSA investment properties [4] - The company experienced a decline in adjusted EBITDA by 15.3% year-over-year, totaling ARS 134,961 million [4] - The Argentine government announced a temporary reduction in crop export taxes, positively impacting crop prices by approximately 5% [4] Financial Highlights - Agricultural Business Revenue increased to ARS 238,715 million from ARS 225,523 million year-over-year [3] - Urban Properties Revenues decreased to ARS 170,141 million from ARS 183,583 million year-over-year [3] - Consolidated Gross Profit fell to ARS 153,481 million from ARS 207,081 million year-over-year [3] - The company's market capitalization was approximately USD 761.8 million as of December 31, 2024 [3] Operational Insights - The company planted 303,000 hectares in the region, representing a 9% increase compared to the previous season [4] - A cash dividend of ARS 45,000 million was distributed in November 2024, yielding approximately 7% [4] - The adjusted EBITDA for agribusiness was ARS 35,262 million, while Urban adjusted EBITDA reached ARS 103,136 million [4]

Group 1 - Argentina's economy has undergone significant changes since Javier Milei took office, impacting various sectors including agriculture and real estate [1] - Cresud (NASDAQ: CRESY) has experienced notable shifts in its operational landscape, largely attributed to Milei's aggressive policy changes [1]

Financial Data and Key Metrics Changes - The company reported a net income of ARS -72.3 billion, with a significant accounting effect due to the valuation of investment properties at fair value, resulting in a negative impact when expressed in pesos [22][23] - The net debt has decreased from $421 million in fiscal year 2021 to $310 million currently, indicating improved financial health [24] Business Line Data and Key Metrics Changes - The agricultural segment is experiencing a 9% increase in planted area, with a total of 303,000 hectares expected to be planted across Argentina, Brazil, Bolivia, and Paraguay [9] - The real estate segment saw significant transactions, including the sale of undeveloped land in Argentina for $2.2 million and a developed area in Brazil for BRL190 million, showcasing strong gains from previous investments [13][14] Market Data and Key Metrics Changes - The company received dividends totaling approximately $53 million, with Brasilagro contributing around $10 million and IRSA providing $43 million, reflecting a healthy return on investments [8] - The occupancy rates for IRSA's shopping malls and offices remain high at 97% and 98% respectively, indicating strong demand in the real estate market [18] Company Strategy and Development Direction - The company is optimistic about the agricultural sector due to favorable government policies aimed at deregulation and support for farmers, which may enhance operational efficiency and profitability [30][32] - The service company FyO has become the largest broker in Argentina for agricultural inputs and services, expanding its operations into Brazil, indicating a strategic focus on growth in commercial services [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the upcoming year, citing improved weather conditions and higher production expectations in beef cattle, which are expected to drive operational performance [40] - The management highlighted the potential benefits from government measures aimed at reducing export taxes and increasing liquidity in the agricultural sector, which could lead to better financial outcomes for the company [32][33] Other Important Information - The company announced a new share buyback program for ARS6.5 billion, with a maximum purchase price of $12 per ADR, indicating a commitment to returning value to shareholders [26] - The company has maintained a dividend yield of 7%, reflecting a consistent approach to shareholder returns over the past three years [25] Q&A Session Summary Question: Opportunities from deregulation in the agricultural sector - Management discussed the potential benefits of government support for the agricultural sector, including reduced export taxes and increased liquidity in land markets, which could enhance profitability for farmers and the company [30][32] Question: Optimal allocation between buybacks and dividends - Management indicated a preference for cash payments in the form of dividends over buybacks, while also acknowledging the limitations imposed by regulatory restrictions on share repurchases [34][35] Question: Impact of drought in northern Brazil - Management noted that the drought has caused delays in planting but does not expect significant material impacts on overall results, with positive expectations for the agricultural operations in Brazil [38]

Core Insights - Cresud S.A.C.I.F. y A. reported a net loss of ARS 72,374 million for Q1 FY 2025, a 129.7% decrease compared to the same period in 2024, primarily due to losses from changes in the fair value of IRSA investment properties [2][3] - The adjusted EBITDA for the period was ARS 73,977 million, reflecting a 68.0% increase year-over-year, with agribusiness adjusted EBITDA at ARS 27,919 million and urban adjusted EBITDA at ARS 47,290 million [3] Financial Performance - Agricultural Business Revenue increased to ARS 136,955 million from ARS 113,392 million year-over-year [4] - Agricultural Business Gross Profit decreased to ARS 8,671 million from ARS 12,373 million [4] - Urban Properties Revenues decreased to ARS 72,495 million from ARS 78,185 million [4] - Urban Properties Gross Profit decreased to ARS 57,846 million from ARS 64,768 million [4] - Consolidated Gross Profit decreased to ARS 65,999 million from ARS 76,809 million [4] - The profit for the period was ARS (72,374) million compared to ARS 244,016 million in the previous year [4] - Basic and diluted EPS were both ARS (66.54) [4] Balance Sheet Highlights - Total Assets decreased to ARS 3,699,441 million from ARS 3,894,432 million [4] - Current Assets increased to ARS 804,851 million from ARS 792,094 million [4] - Non-Current Assets decreased to ARS 2,894,590 million from ARS 3,102,338 million [4] - Total Liabilities decreased to ARS 2,039,477 million from ARS 2,140,805 million [4] - Shareholders' Equity decreased to ARS 1,659,964 million from ARS 1,753,627 million [4] Market Capitalization - As of September 30, 2024, Cresud's market capitalization was approximately USD 512.7 million, based on 59,863,914 ADS priced at USD 8.64 each [5]

Financial Performance - Total revenues for the year ended June 30, 2024, amounted to ARS 655,037 million, with the agricultural business contributing ARS 384,487 million and urban properties contributing ARS 270,550 million [335]. - Gross profit for the total segments was ARS 294,983 million, with a gross profit margin of approximately 45% [336]. - The company reported a profit from operations of ARS (136,236) million, indicating a challenging operational environment [336]. - The company reported a profit of ARS 67,856 million for the period, an increase of 48,175 million or 273.5% compared to a loss of ARS 162,123 million in the previous year [346]. - The company’s net profit for FY 2024 was ARS 93,980 million, down from ARS 290,458 million in FY 2023, primarily due to losses in the Urban Properties and Investment business [378]. Revenue Recognition - Revenue from agricultural activities primarily comes from sales of agricultural produce, with revenue recognized upon transfer of ownership risks and benefits [315]. - Revenue from the sale of grains is recognized based on the price determined for each client, considering foreign exchange rates at the delivery date [315]. - Rental income from shopping malls is recognized on a straight-line basis over the lease term, with contingent rents ranging from 2% to 12% of lessees' gross sales [317]. - The company recognizes revenue from hotel operations when services are provided, including room services and gastronomy [320]. - Revenue from the sale of real estate properties is recognized only when possession is transferred to the buyer, typically upon unconditional exchange of contracts [320]. Economic Environment - Argentine GDP decreased by 1.7% year-on-year in Q2 2024, an improvement from a 4.9% decrease in Q2 2023 [322]. - Inflation rates in Argentina reached 271.5% (CPI) and 284.4% (IPIM) for the fiscal year 2024, significantly higher than 115.6% and 112.8% in 2023 [323]. - The average exchange rate for USD was ARS 910.50 as of June 30, 2024, compared to ARS 256.50 in 2023, indicating a depreciation of the Peso by 255.0% [322]. - The unemployment rate in Argentina rose to 7.6% as of June 30, 2024, up from 6.2% in the previous year [321]. Agricultural Business Performance - Total revenues for the agricultural business reached ARS 384,487 million, an increase from ARS 323,676 million in the previous year, reflecting a growth of approximately 19% [338]. - Gross profit for the agricultural business was ARS 73,324 million, compared to ARS 49,272 million in the prior year, indicating a significant increase of around 49% [339]. - The agricultural business segment showed a revenue increase compared to the previous year, with revenues of ARS 378,132 million for the year ended June 30, 2023 [335]. - Agricultural Business revenues totaled ARS 258,632 million from Argentina and ARS 257,240 million from other countries, primarily Brazil with ARS 237,601 million [341]. Urban Properties and Investments - Urban properties and investments generated total revenues of ARS 270,550 million, with shopping malls contributing ARS 179,650 million and offices ARS 16,243 million [342]. - The gross profit for urban properties and investments was ARS 221,659 million, with a net loss from fair value adjustments of investment properties amounting to ARS 341,584 million [342]. - The company reported a segment profit of ARS 120,545 million for urban properties, despite a loss of ARS 56,829 million from offices [342]. - The net loss from fair value adjustments in the previous fiscal year was ARS 190,751 million, reflecting market challenges [343]. Costs and Expenses - General and administrative expenses were ARS 85,131 million, reflecting the company's cost management efforts [336]. - Selling expenses were reported at ARS 43,768 million, which is an increase from ARS 34,723 million, indicating rising costs in this area [339]. - General and administrative expenses increased to ARS 33,678 million from ARS 31,550 million, a rise of 2,128 million or 6.75% [346]. - The overall cost of goods sold was ARS 311,163 million, which represents an increase of 10,906 million or 3.6% from ARS 300,257 million in 2023 [347]. Debt and Financing - The company expects to incur total borrowings of ARS 822,535 million as of June 30, 2024, with ARS 346,944 million due within one year [404]. - Total debt as of June 30, 2024, was ARS 822,535 million, with non-current liabilities at ARS 475,591 million and current liabilities at ARS 346,944 million [417]. - The total borrowings decreased from ARS 973,601 million in June 2023 to ARS 822,535 million in June 2024, reflecting a reduction of approximately 15.5% [417]. - The company plans to continue refinancing short-term liabilities and working capital through various note issuances [421]. Legal and Regulatory Matters - The company is involved in a legal proceeding with Exagrind S.A. regarding damages from a fire, with a potential claim amounting to ARS 52,893,850 [492]. - Cresud has initiated judicial actions against the Province of Salta regarding fees for corn, soybeans, and sorghum campaigns, with estimated contingencies amounting to ARS 284.5 million at year-end [493]. - The company is subject to Argentine law regarding dividend distribution, requiring approval from shareholders at the annual meeting [509]. Future Outlook - The company anticipates continued growth in revenues and profitability driven by market expansion and new product developments in the agricultural sector [338]. - The company plans to focus on market expansion and new product development as part of its future strategy [346]. - The company is considering strategic acquisitions to bolster its market position, with a budget of USD 100 million allocated for potential deals [456].