|                                        |                                       |
|---------------------------------------------|--------------------------------------------|
| Name of the entity                          | Place of business/Country of incorporation |
| IRSA's direct interest:                     |                                       |
| IRSA CP(1)                                  | Argentina                                  |
| E-CommerceLatina S.A.                       | Argentina                                  |
| EfanurS.A.                                  | Uruguay                                    |
| HotelesArgentinos S.A.                      | Argentina                                  |
| InversoraBol’var S.A.                | Argentina                                  |
| LlaoLlao Resorts S.A. (2)                   | Argentina                                  |
| NuevasFronteras S.A.                        | Argentina                                  |
| PalermoInvest S.A.                          | Argentina                                  |
| RitelcoS.A.                                 | Uruguay                                    |
| Solaresde Santa Mar’a S.A. (3)       | Argentina                                  |
| TyrusS.A.                                   | Uruguay                                    |
| UnicityS.A. (3)                             | Argentina                                  |
| IRSACP's direct interest:                   |                                       |
| Arcosdel Gourmet S.A.                       | Argentina                                  |
| EmprendimientoRecoleta S.A.                 | Argentina                                  |
| FibesaS.A. (4)                              | Argentina                                  |
| PanamericanMall S.A.                        | Argentina                                  |
| ShoppingNeuquén S.A.                   | Argentina                                  |
| TorodurS.A.                                 | Uruguay                                    |
| EHSA                                        | Argentina                                  |
| TyrusS.A.'s direct interest:                |                                       |
| DFL(4)                                      | Bermudas                                   |
| IMadison LLC                                | UnitedStates                               |
| IRSADevelopment LP                          | UnitedStates                               |
| IRSAInternational LLC                       | UnitedStates                               |
| JiwinS.A.                                   | Uruguay                                    |
| LiveckS.A.                                  | Uruguay                                    |
| RealEstate Investment Group IV LP (REIG IV) | Bermudas                                   |
| RealEstate Investment Group V LP            | Bermudas                                   |
| RealEstate Strategies LLC                   | UnitedStates                               |
| EfanurS.A.'s direct interest:               |                                       |
| RealEstate Strategies LP                    | Bermudas                                   |
| DFL'sdirect interest:                       |                                       |
| IDBDevelopment Corporation Ltd.             | Israel                                     |
| Name ofthe entity                      | Country                               |
| IDBD'sdirect interest:                      |                                       |
| DiscountInvestment Corporation Ltd. (5)     | Israel                                     |
| IDBTourism (2009) Ltd.                      | Israel                                     |
| IDBGroup Investment Inc.                    | Israel                                     |
| DIC'sdirect interest:                       |                                       |
| Property& Building Corporation Ltd.     | Israel                                     |
| ShufersalLtd.                               | Israel                                     |
| KoorIndustries Ltd.                         | Israel                                     |
| CellcomIsrael Ltd. (6)                      | Israel                                     |
| ElronElectronic Industries Ltd.             | Israel                                     |
| BartanHoldings and Investments Ltd.         | Israel                                     |
| EpsilonInvestment House Ltd.                | Israel                                     |