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| Corporate Departments                                                                                                                                                       | Department                                                                                                                                                                                                                                                      | Division / Subdivision                                                                                                                                | Distribution Method                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Human Resources                                                                                                                                                             | Human Resources                                                                                                                                                                                                                                                 |                                                                                                                                                  | By headcount (non-corporate personnel) and weighting the percentages of other areas (corporate personnel).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                        | Project Management                                                                                                                                                                                                                                              |                                                                                                                                                  |
|                                                                                                                                                                        | Project Quality                                                                                                                                                                                                                                                 |                                                                                                                                                  |
|                                                                                                                                                                        | Safety and Hygiene                                                                                                                                                                                                                                              |                                                                                                                                                  |
| Finance                                                                                                                                                                | Capital Markets                                                                                                                                                                                                                                                 |                                                                                                                                                  | Weighting is as follows:Capital Markets 20%Relations with Investors 20%Financial Risk 10%Financial Administration 20%Planning 20%Financial Analysis 10%Investors Relations: Number of business highlights during the semester, number of result announcements, number of meetings with investors (current or potential) to discuss the companies’ business and strategy, number of active coverages, number of result conferences, the complexity of the website of each company, number of relevant facts published in the Argentine Securities and Exchange Commission and the US Securities and Exchange Commission, and number of Roadshows (Deal o Non-Deal). All items involved are weighted in equal parts. Capital Markets: Amount of financial transactions conducted in the period weighted at 70% and the remaining 30% corresponds to updates of offering memoranda and “horizontal” works (20F, annual reports, Press Release, etc.)Financial Risk: Time invested in the duties performed.Financial Administration: Total assets weighted at 40% and total liabilities weighted at 60%. The resulting percentage shall be weighted at 80% over the total. The remaining 20% will correspond to the percentage that each company consummates over the total inquiries for special transactions.- Planning: Proportional among the three companies.Financial Analysis: Time devoted to the tasks performed. |
| Relations with Investors                                                                                                                                                    |                                                                                                                                                                                                                                                            |
| Financial Risk                                                                                                                                                              |                                                                                                                                                                                                                                                            |
| Financial Administration                                                                                                                                                    |                                                                                                                                                                                                                                                            |
| Planning                                                                                                                                                                    |                                                                                                                                                                                                                                                            |
| Financial Analysis                                                                                                                                                          |
| Institutional Relations                                                                                                                                                     | Institutional Relations                                                                                                                                                                                                                                         |                                                                                                                                                  | Tasks performed and the time spent in each.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Administration and ControlEach one of the sectors comprising the Department is weighted.                                                                                    | Accounting y Reporting                                                                                                                                                                                                                                          |                                                                                                                                                  | The records of accounting and revenues per company are weighted.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Taxes                                                                                                                                                                       |                                                                                                                                                                                                                                                            | Salaries are weighted according to the position and tasks performed (per company and in equal shares)                                                 |
| Budget and Global Management Control                                                                                                                                        |                                                                                                                                                                                                                                                            | Same percentage as Administration and Control Department                                                                                              |
| Shared Services Center (CSC)(the sectors reporting to it are weighted).                                                                                                     | Administrative Operations                                                                                                                                                                                                                                       | Records of revenues, records of expenses, records of treasury activity, records of collections and the number of sector’s payroll are weighted. |
| Errand Running Service                                                                                                                                                      | Number of errands run.                                                                                                                                                                                                                                          |
| Sox Regulation                                                                                                                                                              | Distribution of key control % per front / company (scope matrixes on 2012 base + parking space process to be included in 2013)                                                                                                                                  |
| Special Projects and Control                                                                                                                                                | Hours of tasks performed.                                                                                                                                                                                                                                       |
| Systems and Technology                                                                                                                                                 | Weighting of time spent in each task.                                                                                                                                                                                                                           |
| Process Quality                                                                                                                                                             | Tasks performed and time spent in such tasks.                                                                                                                                                                                                                   |
| Budget and Management Control – Shared Services Center                                                                                                                | Same percentage as the Shared Services Center Department.                                                                                                                                                                                                       |
| Business Operations                                                                                                                                                         | Hours spent in each task.                                                                                                                                                                                                                                       |
| HHRR – Shared Services Center                                                                                                                                         | 50% weighting of percentages from Shared Services Center sectors; 50% weighting of percentages from corporate sectors.                                                                                                                                          |
| Real Estate Business Management(each of the Departments comprising the Area are weighted. It does not render services to Cresud)                                       | Real Estate IT Services                                                                                                                                                                                                                                         |                                                                                                                                                  | 70% APSA, 30% to be distributed APSA and IRSA based on supervised projects.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Real Estate Business Analysis                                                                                                                                               |                                                                                                                                                                                                                                                            | Hours devoted to reviewed projects as applicable to APSA or IRSA.                                                                                     |
| Real Estate Credit Risk                                                                                                                                                     |                                                                                                                                                                                                                                                            | Hours worked for each company.                                                                                                                        |
| Real Estate Legal Affairs                                                                                                                                                   |                                                                                                                                                                                                                                                            | Weighting of hours and salaries.                                                                                                                      |
| Real Estate Budget and Management Control                                                                                                                              |                                                                                                                                                                                                                                                            | Actual revenues per company.                                                                                                                          |
| Real Estate Business Board of Directors to be Distributed                                                                                                                   | Real Estate Business Board of Directors to be Distributed                                                                                                                                                                                                       |                                                                                                                                                  | Proportional between IRSA and APSA. Excludes Cresud.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Real Estate Business HHRR                                                                                                                                                   | Real Estate Business HHRR                                                                                                                                                                                                                                       |                                                                                                                                                  | Based on payroll.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Insurance                                                                                                                                                                   | Insurance                                                                                                                                                                                                                                                       |                                                                                                                                                  | Based on the amount of premiums under the annual insurance program.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Safety                                                                                                                                                                      | Safety                                                                                                                                                                                                                                                          |                                                                                                                                                  | Per hour                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Contracts                                                                                                                                                                   | Contracts                                                                                                                                                                                                                                                       |                                                                                                                                                  | Number of contracts executed.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Technical, Infrastructure and Services, Purchases, Architecture and Design, and Development and Works DepartmentAn average is obtained from the Departments reporting to it | Technical, Infrastructure and Services(APSA – IRSA: Weighted average from the Departments reporting to it less the percentage allocated to CRESUD.  CRESUD: a percentage is calculated based on the hours spent in the tasks performed/planned) | Planning and Control                                                                                                                                  | Weighted average of the areas under the supervision of the TIS Department of IRSA and APSA, excluding CRESUD.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Logistics                                                                                                                                                                   | Weighted between directly assigned personnel and centralized personnel distributed per square meter of the real property (IRSA and APSA) and time spent in tasks (CRESUD).                                                                                      |
| Distributed Operations                                                                                                                                                      | Square meters of real property held, operated and to which maintenance services are provided (IRSA and APSA) and time spent in tasks (CRESUD).                                                                                                                  |
| Architecture                                                                                                                                                                | IRSA/APSA: Personnel distributed per surface area and number of stores.                                                                                                                                                                                         |
| Third parties' services                                                                                                                                                     | Distribution of resource allocation.                                                                                                                                                                                                                            |
| Traveling Personnel                                                                                                                                                         | Maintenance hours (IRSA and APSA) and time spent in tasks (CRESUD).                                                                                                                                                                                             |
| Engineering and Maintenance                                                                                                                                                 | Square meters of real property held, to which maintenance, engineering and other services are provided (IRSA and APSA) and time spent in tasks (CRESUD).                                                                                                        |
| Purchases and Hiring                                                                                                                                                        |                                                                                                                                                                                                                                                            | Purchase orders with weighted volume and amounts thereof.                                                                                             |
| Development and Works                                                                                                                                                       |                                                                                                                                                                                                                                                            | Tasks performed and time spent in each.                                                                                                               |
| Architecture and Design                                                                                                                                                     |                                                                                                                                                                                                                                                            | Completed projects.                                                                                                                                   |
| Environment and Quality                                                                                                                                                     |                                                                                                                                                                                                                                                            | Number of case files submitted with the enforcing authority, and time spent in the follow-up and control thereof.                                     |
| Real Estate                                                                                                                                                                 | Real Estate                                                                                                                                                                                                                                                     |                                                                                                                                                  | Salaries are weighted according to the position and tasks performed (per companies and in equal shares).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Governmental Affairs                                                                                                                                                        |                                                                                                                                                                                                                                                            | Weighting of allocated projects.                                                                                                                      |
| Hotels                                                                                                                                                                      | Hotels                                                                                                                                                                                                                                                          |                                                                                                                                                  | 100% IRSA.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Internal Audit                                                                                                                                                              | Internal Audit                                                                                                                                                                                                                                                  |                                                                                                                                                  | Times estimated/forecast in the annual plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Fraud Prevention                                                                                                                                                            | Fraud Prevention                                                                                                                                                                                                                                                |                                                                                                                                                  | Proportional among the three companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Board of Directors to be Distributed                                                                                                                                        | Board of Directors to be Distributed                                                                                                                                                                                                                            |                                                                                                                                                  | Proportional among the three companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Audit Committee                                                                                                                                                             | Audit Committee                                                                                                                                                                                                                                                 |                                                                                                                                                  | Weighting of tasks performed.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| General Management Department to be Distributed                                                                                                                             | General Management Department to be Distributed                                                                                                                                                                                                                 |                                                                                                                                                  | Proportional among the three companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Board of Directors’ Safety                                                                                                                                            | Board of Directors’ Safety                                                                                                                                                                                                                                |                                                                                                                                                  | Proportional among the three companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Farming Investment Management                                                                                                                                               | Farming Investment Management                                                                                                                                                                                                                                   |                                                                                                                                                  | Hours of tasks performed.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |

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