Company: CRESW
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001654954-25-012195
Chunk: 55

Company: CRESUD INC
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 55
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Item 3. Key Information
A. Reserved

A.1. Local Exchange Market and Exchange Rates

The Argentine Government has established a series of exchange control measures that restrict the free flow of currency and the transfer of funds abroad. These measures significantly curtail access to the MULC by private sector entities. This makes it necessary, among other things, to obtain prior approval from the Central Bank to enter into certain foreign exchange transactions such as payments relating to royalties, services or fees payable outside Argentina. For more information about exchange controls see, “Item 10. Additional Information—D. Exchange Controls”.

The following table shows the maximum, minimum, average and closing exchange rates for each applicable period to purchases of U.S. dollars.

                                            Maximum (1) (2)      Minimum (1) (3)      Average (1) (4)       At closing (1)  
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Fiscal year ended:                                                                                                          
June 30, 2023                                          256.50               125.35               179.71               256.50
June 30, 2024                                          910.50               257.70               613.03               910.50
June 30, 2025                                        1,200.50               912.50             1,032.46             1,200.50
Month ended:                                                                                                                
July 31, 2025                                        1,369.50             1,217.50             1,265.30             1,369.50
August 31, 2025                                      1,359.50             1,288.00             1,323.75             1,337.50
September 30, 2025                                   1,470.50             1,321.50             1,396.57             1,375.50
October, 2025 (through October 22, 2025)             1,486.00             1,344.50             1,420.63             1,484.50
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Source: Banco de la Nación Argentina

(1)   Average between the offer exchange rate and the bid exchange rate according to Banco de la Nación Argentina’s foreign currency exchange rate.
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(2)   The maximum exchange rate appearing in the table was the highest end-of-month exchange rate in the year or shorter period, as indicated.