| Nameof the entity                             | Country      | Mainactivity     |  Stakeat 06.30.2018  |
|-----------------------------------------------|--------------|------------------|--------------------------------|
| IRSA'sdirect interest:                        |         |             |                 |
| IRSA CP(1)                                    | Argentina    | Realestate       |   86.34%             |
| E-Commerce LatinaS.A.                         | Argentina    | Investment       |   100.00%            |
| EfanurS.A.                                    | Uruguay      | Investment       |   100.00%            |
| Hoteles ArgentinosS.A.                        | Argentina    | Hotel            |   80.00%             |
| InversoraBolívar S.A.                    | Argentina    | Investment       |   100.00%            |
| Llao Llao ResortsS.A. (2)                     | Argentina    | Hotel            |   50.00%             |
| Nuevas FronterasS.A.                          | Argentina    | Hotel            |   76.34%             |
| Palermo InvestS.A.                            | Argentina    | Investment       |   100.00%            |
| RitelcoS.A.                                   | Uruguay      | Investment       |   100.00%            |
| TyrusS.A.                                     | Uruguay      | Investment       |   100.00%            |
| U.T. IRSA andGalerías Pacífico (6)  | Argentina    | Investment       |   50.00%             |
| IRSACP's direct interest:                     |         |             |            |
| Arcos del GourmetS.A.                         | Argentina    | Realestate       |   90.00%             |
| EmprendimientoRecoleta S.A.                   | Argentina    | Realestate       |   53.68%             |
| Fibesa S.A.(3)                                | Argentina    | Realestate       |   100.00%            |
| Panamerican MallS.A.                          | Argentina    | Realestate       |   80.00%             |
| ShoppingNeuquén S.A.                     | Argentina    | Realestate       |   99.92%             |
| TorodurS.A.                                   | Uruguay      | Investment       |   100.00%            |
| EHSA                                          | Argentina    | Investment       |   70.00%             |
| Centro deEntretenimiento La Plata (6)         | Argentina    | Realestate       |   100.00%            |
| TyrusS.A.'s direct interest:                  |         |             |            |
| DFL(4)                                        | Bermudas     | Investment       |   91.57%             |
| IRSA InternationalLLC                         | USAs         | Investment       |   100.00%            |
| JiwinS.A.                                     | Uruguay      | Investment       |   100.00%            |
| LiveckS.A.                                    | Uruguay      | Investment       |   100.00%            |
| Real EstateInvestment Group V LP              | Bermudas     | Investment       |   100.00%            |
| Real EstateStrategies LLC                     | USA          | Investment       |   100.00%            |
| EfanurS.A.'s direct interest:                 |         |             |            |
| Real EstateInvestment Group VII LP (REIG VII) | Bermudas     | Investment       |   100.00%            |
| DFL'sdirect interest:                         |         |             |            |
| IDB DevelopmentCorporation Ltd.               | Israel       | Investment       |   100.00%            |
| Dolphin ILInvestment Ltd.                |  Israel | Investment       |   100.00%            |
| DIL'sdirect interest:                         |         |             |            |
| DiscountInvestment Corporation Ltd. (4)       | Israel       |  Investment |   76.57%             |
| IDBD'sdirect interest:                        |         |             |            |
| IDB Tourism (2009)Ltd.                        | Israel       | Tourismservices  |   100.00%            |
| IDB GroupInvestment Inc.                      | Israel       | Investment       |   100.00%            |
| DIC'sdirect interest:                         |         |             |            |
| Property &Building Corporation Ltd.       | Israel       | Investment       |   64.44%             |
| Shufersal Ltd.(7)                             | Israel       | Investment       |   -             |
| Cellcom Israel Ltd.(5)                        | Israel       | Investment       |   43.14%             |
| Elron ElectronicIndustries Ltd.               | Israel       | Investment       |   50.32%             |
| Bartan Holdings andInvestments Ltd.           | Israel       | Investment       |   55.68%             |
| Epsilon InvestmentHouse Ltd.                  | Israel       | Investment       |   68.75%             |