Name of the entity

Country

Main activity

Stake at 06.30.2025

IRSA's direct interest:

E-Commerce Latina S.A.

Argentina

Investment

100.00%

Hoteles Argentinos S.A.U.

Argentina

Hotel

100.00%

Inversora Bolívar S.A.

Argentina

Investment

100.00%

Llao Llao Resorts S.A. (1)

Argentina

Hotel

50.00%

Nuevas Fronteras S.A.

Argentina

Hotel

76.34%

Palermo Invest S.A.

Argentina

Investment

100.00%

Ritelco S.A.U.

Argentina

Investment

100.00%

Tyrus S.A.

Uruguay

Investment

100.00%

Arcos del Gourmet S.A.

Argentina

Real estate

90.00%

Emprendimiento Recoleta S.A. (in liquidation)

Argentina

Real estate

53.68%

Fibesa S.A.U.

Argentina

Real estate

100.00%

Panamerican Mall S.A.

Argentina

Real estate

80.00%

Shopping Neuquén S.A.

Argentina

Real estate

99.95%

Torodur S.A.

Uruguay

Investment

100.00%

EHSA

Argentina

Investment

70.00%

We Are Appa S.A.

Argentina

Design and software development

93.63%

Shefa Fiduciaria S.A.U.

Argentina

Trustee company

100.00%

Fideicomiso Shefa V.C.

Argentina

Investment

100.00%

Tyrus S.A.'s direct interest:

DFL and DN BV

Bermuda’s / Netherlands

Investment

99.65%

Shefa Holding LLC

USA

Investment

100.00%

IRSA International LLC

USA

Investment

100.00%

Liveck Ltd. (2)

British Virgin Islands

Investment

100.00%

Real Estate Strategies LLC

USA

Investment

100.00%

DFL's and DN BV's direct interest:

Dolphin IL Investment Ltd.

Israel

Investment

100.00%

(1)

The Company has consolidated the investment in Llao Llao Resorts S.A. considering its equity interest and a shareholder agreement that confers its majority of votes in decision-making process.

(2)

Includes Tyrus’ and IRSA’s equity interests.