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| Corporate Departments                                                                                                                                                                 | Department                                                                                                                                                                                                                                             | Division / Subdivision                                                                                                         | Distribution Method                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
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| 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 and 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                                                                       |
| SOX Regulation                                                                                                                                                                        |                                                                                                                                                                                                                                                   | Distribution of key control % per front / company (scope matrixes on 2012 base + parking space process to be included in 2013) |
| Shared Services Center (CSC)(The percentages of all the sectors reporting to the CSC are weighted according to projected salaries of the sector in question over CSC total salaries). | Expenses Administration                                                                                                                                                                                                                                | Number of Expense Transactions performed by each Company + Direct Allocation of Resources                                      |
| Revenues Administration                                                                                                                                                               | Number of Revenue Transactions performed by each Company + Direct Allocation of Resources                                                                                                                                                              |
| Customer Administration                                                                                                                                                               | Direct Allocation of Resources                                                                                                                                                                                                                         |
| Collections Administration                                                                                                                                                            | Direct Allocation of Resources                                                                                                                                                                                                                         |
| Treasury Administration                                                                                                                                                          | Number of Treasury Transactions performed by each Company.                                                                                                                                                                                             |
| Own Account Administration                                                                                                                                                            | Number of Transactions performed by each Company.                                                                                                                                                                                                      |
| Technology                                                                                                                                                                            | Weighting of time spent in each task (related to the services).                                                                                                                                                                                        |
| IT Services                                                                                                                                                                           | Number of CASTI incidents processed for each Company.                                                                                                                                                                                                  |
| Master Data                                                                                                                                                                           | According to the time devoted to each company during the previous semester.                                                                                                                                                                            |
|                                                                                                                                                                                  |                                                                                                                                                                                                                                                   | Maintenance Systems                                                                                                            | Hours devoted to each task.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                  |                                                                                                                                                                                                                                                   | Project Systems                                                                                                                | Hours devoted to each task.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                  |                                                                                                                                                                                                                                                   | Commercial Transactions                                                                                                        | Hours devoted to each task.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                  |                                                                                                                                                                                                                                                   | IT Security                                                                                                                    | Weighting of time spent in each task.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                  |                                                                                                                                                                                                                                                   | Process Quality                                                                                                                | Weighting of time spent in each task.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                  |                                                                                                                                                                                                                                                   | CSC Human Resources                                                                                                            | 50% weighting of % of CSC sectors; 50% weighting of Corporate sectors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                  |                                                                                                                                                                                                                                                   | Errand Running Service                                                                                                         | Number of errands run.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 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% IRSAPC, 30% to be distributed IRSAPC and IRSA based on supervised projects.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Real Estate Business Analysis                                                                                                                                                         |                                                                                                                                                                                                                                                   | Hours devoted to reviewed projects as applicable to IRSA PC 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 IRSAPC. 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, Architecture and Design, and Development and Works DepartmentAn average is obtained from the Departments reporting to it                      | Technical, Infrastructure and Services(IRSAPC – 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 IRSAPC, excluding CRESUD.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Logistics                                                                                                                                                                             | Weighted between directly assigned personnel and centralized personnel distributed per square meter of the real property (IRSA and IRSAPC) and time spent in tasks (CRESUD).                                                                           |
| Distributed Operations                                                                                                                                                                | Square meters of real property held, operated and to which maintenance services are provided (IRSA and IRSAPC) and time spent in tasks (CRESUD).                                                                                                       |
| Architecture                                                                                                                                                                          | IRSA/IRSAPC: Personnel distributed per surface area and number of stores.                                                                                                                                                                              |
| Third parties' services                                                                                                                                                               | Distribution of resource allocation.                                                                                                                                                                                                                   |
| Traveling Personnel                                                                                                                                                                   | Maintenance hours (IRSA and IRSAPC) 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 IRSAPC) and time spent in tasks (CRESUD).                                                                                             |
| Development and Works                                                                                                                                                                 |                                                                                                                                                                                                                                                   | Tasks performed and time spent in each.                                                                                        |
| Architecture and Design                                                                                                                                                               |                                                                                                                                                                                                                                                   | Completed projects.                                                                                                            |
| Purchases and Hirings                                                                                                                                                                 | Purchases and Hirings                                                                                                                                                                                                                                  |                                                                                                                           | Weighted volume and amounts of purchase orders.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Environment and Quality                                                                                                                                                               | Environment and Quality                                                                                                                                                                                                                                |                                                                                                                           | The distribution of corporate costs of the Environment, Farming Quality and Standardization area will be made according to the hours devoted to each global topic by person and company during the period.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

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