# EDGAR Filing Document

**Accession Number:** 0001037182
**File Stem:** 0001654954-23-002175
**Filing Date:** 2023-2
**Character Count:** 71609
**Document Hash:** 6183a2bd4199eee032f78308556b925a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-23-002175.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001654954-23-002175

**CONFORMED SUBMISSION TYPE**: SC 13D/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IRSA INVESTMENTS & REPRESENTATIONS INC
- **CENTRAL INDEX KEY:** 0000933267
- **STANDARD INDUSTRIAL CLASSIFICATION:** LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-54021
- **FILM NUMBER:** 23682165

**BUSINESS ADDRESS:**
- **STREET 1:** CARLOS M. DELLA PAOLERA 261
- **STREET 2:** 9TH FLOOR
- **CITY:** BUENOS AIRES
- **STATE:** C1
- **ZIP:** C1C1001ADA
- **BUSINESS PHONE:** 00541143237449

**MAIL ADDRESS:**
- **STREET 1:** CARLOS M. DELLA PAOLERA 261
- **STREET 2:** 9TH FLOOR
- **CITY:** BUENOS AIRES
- **STATE:** C1
- **ZIP:** C1C1001ADA
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ELSZTAIN EDUARDO S
- **CENTRAL INDEX KEY:** 0001037182

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A

**MAIL ADDRESS:**
- **STREET 1:** BOLIVAR 108 1??P
- **CITY:** BUENOS AIRES
- **STATE:** C1
- **ZIP:** 00000

**UNITED STATES**

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 **SCHEDULE 13D/A**

(Rule 13d-101)

 **INFORMATION TO BE INCLUDED IN**

STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND

AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)

 **Under the Securities Exchange Act of 1934**

(Amendment No. 20)\*

 **IRSA INVERSIONES Y REPRESENTACIONES SOCIEDAD ANÓNIMA**

 **(Name of Issuer)**

 **Common Stock, Par Value 1.00 Peso per Share**

 **(Title of Class of Securities)**

 **450047204**

 **(CUSIP Number)**

 **Juan Manuel Quintana**

 **Carolina Zang**

Estudio Zang, Bergel y Viñes

Florida 537, 18<sup>th</sup> Floor

Buenos Aires, Argentina

+54(11) 4323-4000

 **(Name, Address and Telephone Number of Person**

 **authorized to Receive Notices and Communications)**

 **February 14, 2023**

<br> **(Date of Event which Requires Filing of this Statement)**

 **If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.** G

 ***Note*: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. *See* Rule 13d-7 for other parties to who copies are to be sent.**

 **\*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.**

 **The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, *see* the *Notes*).**

------

 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 2 of 23 Pages**<br>|

---

---

| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Eduardo S. Elsztain** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Eduardo S. Elsztain** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Eduardo S. Elsztain** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **7,660,323** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **7,660,323** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **IN** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **IN** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **IN** |

---

------

 **SCHEDULE 13D**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 3 of 23 Pages**<br>|

---

---

| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Agroinvestment S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Agroinvestment S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Agroinvestment S.A.** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** |

---

------

 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 4 of 23 Pages**<br>|

---

---

| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **IFIS Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **IFIS Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **IFIS Limited** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC - OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC - OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC - OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Bermuda** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Bermuda** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Bermuda** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** |

---

------

 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 5 of 23 Pages**<br>|

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---

| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Inversiones Financieras del Sur S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Inversiones Financieras del Sur S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Inversiones Financieras del Sur S.A.** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** |

---

------

 **SCHEDULE 13D**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 6 of 23 Pages**<br>|

---

---

| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Venture Capital Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Venture Capital Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Venture Capital Limited** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC-OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Cayman Islands** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Cayman Islands** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Cayman Islands** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** |

---

------

 **SCHEDULE 13D**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 7 of 23 Pages**<br>|

---

---

| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Cresud S.A.C.I.F. y A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Cresud S.A.C.I.F. y A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Cresud S.A.C.I.F. y A.** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** |

---

------

 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 8 of 23 Pages**<br>|

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---

| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Assets Management S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Assets Management S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Assets Management S.A.** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Argentina** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** |

---

------

 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 9 of 23 Pages**<br>|

---

---

| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Venture Capital Uruguay S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Venture Capital Uruguay S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Consultores Venture Capital Uruguay S.A.** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC – OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** |

---

------

 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 10 of 23 Pages**<br>|

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| | | | |
|:---|:---|:---|:---|
| 1. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Helmir S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Helmir S.A.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)<br> **Helmir S.A.** |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC - OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC - OO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOURCE OF FUNDS<br> **WC - OO** |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Republic of Uruguay** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 7. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> **522,635,686** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> **0** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | 10. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> **522,635,686** |
| 11. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **522,635,686** |
| 12. | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ | &nbsp;&nbsp;&nbsp; CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES<br> ☐ |
| 13. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **58.44%** |
| 14. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> **CO** |

---

------

 **SCHEDULE 13D**

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 11 of 23 Pages**<br>|

---

STATEMENT PURSUANT TO RULE 13d-1 OF THE

GENERAL RULES AND REGULATIONS UNDER THE

SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED

 **AMENDMENT No. 20 TO SCHEDULE 13D**

This Amendment No. 20 Schedule 13D ("Amendment No. 20") amends and restates Items 2, 3, 4 and 5 of the Schedule 13D filed by IRSA with the SEC (the "Schedule 13D"), as amended and restated from time to time. Capitalized terms used in this Amendment No. 20 but not defined herein have the meaning given to such terms in the Schedule 13D, as amended and restated from time to time.

------

 **SCHEDULE 13D**

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 12 of 23 Pages**<br>|

---

 **Item 2. Identity and Background**

(a)-(c), (f) This statement is being filed by Eduardo S. Elsztain ("Elsztain") a citizen of the Republic of Argentina who serves as Chairman of the board of directors or Director of each of the following companies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(i) IFIS Limited, a limited liability company organized under the laws of Bermuda ("IFIS");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(ii) Inversiones Financieras del Sur S.A., a stock corporation organized under the laws of the Republic of Uruguay ("IFISA");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(iii) Cresud S.A.C.I.F y A., a stock corporation organized under the laws of the Republic of Argentina ("Cresud");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(iv) Consultores Assets Management S.A., a stock corporation company organized under the laws of Argentina ("CAM");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(v) Consultores Venture Capital Limited, a limited liability company organized under the laws of Cayman Island ("CVC Cayman");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(vi) Consultores Venture Capital Uruguay S.A., a stock corporation company organized under the laws of the Republic of Uruguay ("CVC Uruguay");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(vii) Agroinvestment S.A., a stock corporation organized under the laws of the Republic of Uruguay ("Agroinvestment");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(viii) Helmir S.A., a stock corporation organized under the laws of the Republic of Uruguay ("Helmir") (Elsztain, IFIS, IFISA, Cresud, CAM, CVC Cayman, CVC Uruguay Agroinvestment and Helmir being collectively referred to as the "Reporting Persons").

Elsztain's principal offices are located at Bolívar 108, 1st floor, C1066AAD, Buenos Aires, Argentina; IRSA's principal offices are located at Carlos M. Della Paolera 261, 9th floor (C1001ADA) Buenos Aires, Republic of Argentina; IFIS' principal offices are located at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda; IFISA's and CVC Uruguay's principal offices are located at Ruta 8 Km 17.500 Edificio@1 Local 106, CP 91600 Montevideo, Republic of Uruguay; Cresud's principal offices are located at Carlos M. Della Paolera 261, 9th floor (C1001ADA) Buenos Aires, Republic of Argentina; CAM's principal offices are located at Bolívar 108, 1st floor, C1066AAD, Buenos Aires, Argentina; CVC Cayman's principal offices are located at 4th floor, Harbour Place, South Church Street, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands; Agroinvestment's principal offices are located at Zabala 1422, Floor 2, 11000, Montevideo, Republic of Uruguay and Helmir's principal offices are located at Zabala 1422, CP 11000, Montevideo, Uruguay.<br>

Due to the fact that Mr. Elsztain controls each of the other Reporting Persons, the Reporting Persons report their direct and indirect ownership of common shares as "shared" voting and dispositive power other than common shares held directly by Mr. Elsztain (and not through any other Reporting Person).

The name, business address, present principal occupation or employment, and citizenship of each executive officer and director of the Reporting Persons are set forth in Schedule A hereto.

------

 **SCHEDULE 13D** <br>

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 13 of 23 Pages**<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) None of the Reporting Persons nor, to their knowledge, any person named in Schedule A hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) within the last five years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) During the last five years, none of the Reporting Persons nor, to their knowledge, any person named in Schedule A hereto, has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which any such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation of such laws.

 **Item 3. Source and Amount of Funds or Other Consideration**

As of February 14, 2023 IRSA Inversiones y Representaciones S.A.'s Common Stock beneficially owned by the Reporting Persons consisted of 522,635,686 shares, representing 58.44% of IRSA Inversiones y Representaciones S.A.'s share capital on a fully diluted basis.

 **Item 4. Purpose of Transaction**

Since December 9, 2022 and until the date of issuance of this document, the Reporting Persons have increased their beneficial ownership of IRSA common shares in a 1.0502% of IRSA's outstanding share capital. Such increase in share ownership is mainly a result of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● The purchase in the open market of 9,392,600 IRSA common shares (consisting of 939,260 ADRs of IRSA) <br>

![](tablacomprashelmir.jpg)

Except as described above, neither the Reporting Persons nor, to their knowledge, any person named in Schedule A, has any present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

 **Item 5. Interests in Securities of the Issuer**

&nbsp;&nbsp;&nbsp;&nbsp;

**(a)** As of February 14, 2023 , the Reporting Persons beneficially owned 472,123,181 common shares and 50,512,505 warrants of IRSA, representing a total of 522,635,686 common shares on a fully diluted basis, equal to 58.44% of its outstanding share capital on a fully diluted basis. As of February 14, 2023, IRSA has issued a total of 810,895,390 common shares and the outstanding warrants amount to 79,939,561 (shares to be issued per warrant: 1.0442)

The following is a description of the Reporting Persons' beneficial ownership of IRSA's outstanding stock on a fully diluted basis as of February 14, 2023:

---

| | | |
|:---|:---|:---|
| **Shareholder** | **Number of Shares Currently Owned**<br>| **% of Currently Outstanding Shares**<br>|
| Reporting Persons | 522635686  | 58.44% |
| Total IRSA Outstanding Shares on a fully diluted basis | 894368279  | 100% |

---

------

SCHEDULE 13D

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 14 of 23 Pages**<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(i) Elsztain is the Chairman of the board of directors or Director of IFIS, IFISA, Cresud, IRSA, CAM, CVC Uruguay, CVC Cayman, Agroinvestment and Helmir. As of February 14, 2023 Elsztain held (through companies controlled by him and proxies) a majority of the voting power in IFIS Ltd. As of February 14, 2023, Elsztain holds 100% of the outstanding equity capital of Agroinvestment. As of February 14, 2023, Elsztain owned 85.0% of the outstanding equity capital of CAM which owns 100% of CVC Uruguay which in turn owns 100% of CVC Cayman. As of that same date, Elsztain directly owned 86,028,337 common shares and 9,604,600 warrants of Cresud, representing approximately 13.97% of Cresud's outstanding shares capital on a fully diluted basis; and 7,315,145 common shares and 345,178 warrants of IRSA Inversiones y Representaciones S.A, representing approximately 0.86% of IRSA's outstanding shares capital on a fully diluted basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(ii) IFIS is the direct owner of 100% of the common shares of IFISA and does not directly own any equity in IRSA Inversiones y Representaciones S.A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(iii) IFISA is the direct owner of 111,911,961 common shares and 21,112,130 warrants of Cresud representing approximately 19.43% of Cresud's outstanding common stock on a fully diluted basis and does not directly own any equity in IRSA Inversiones y Representaciones S.A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(iv) CAM directly owns 1,263,190 common shares and 62,773 warrants of IRSA Inversiones y Representaciones S.A, representing approximately 0.15% of IRSA's outstanding shares capital on a fully diluted basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(v) CVC Uruguay directly owns 1,100 common shares and 160 warrants of Cresud representing approximately 0.0002% of Cresud's outstanding common shares on a fully diluted basis; moreover, CVC Uruguay directly owned 8,932,830 common shares and 459,928 warrants of IRSA Inversiones y Representaciones, representing approximately 1.05% of IRSA's outstanding shares capital on a fully diluted basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(vi) CVC Cayman serves as the Investment Manager of IFIS and does not own any equity in IRSA Inversiones y Representaciones S.A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(vii) Agroinvestment directly owns 25,650,520 common shares and 4,421,210 warrants of Cresud representing approximately 4.39% of Cresud's outstanding common shares on a fully diluted basis and does not own any equity in IRSA Inversiones y Representaciones S.A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(viii) Cresud directly owns 431,737,584 common shares of IRSA, which represents 48.28% of IRSA's outstanding stock on a fully diluted basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(ix) Cresud directly owns 100% of the common shares of Helmir.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(x) Helmir directly owns 22,874,432 common shares and 49,644,626 warrants of IRSA, representing 8.11% of IRSA outstanding common shares on a fully diluted basis.

Set forth below is a diagram of the Reporting Persons' beneficial ownership of IRSA's outstanding stock as of February 14, 2023:

------

SCHEDULE 13D

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 15 of 23 Pages**<br>|

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![](cascada000.jpg)

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SCHEDULE 13D

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 16 of 23 Pages**<br>|

---

Given the foregoing, the Reporting Persons may be deemed to be the beneficial owners of 522,635,686 IRSA Inversiones y Representaciones S.A.'s common stock on a fully diluted basis, representing 58.44% of the issued and outstanding common shares and warrants of IRSA Inversiones y Representaciones S.A., as of February 14, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;

(b) Item 5(a) is incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;

(c) Transactions by the Reporting Persons or other persons named in Schedule A, attached hereto, in IRSA common shares that were effected during the previous 60 days are listed on Annex I.

(d)-(e) Not applicable.

 **Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.**

****

On April 24, 2019, and amended from time to time, Loan Agreements were executed between CVC Uruguay as lender and IFISA as borrower, for which the lender holds as collateral 4,483,340 common shares of IRSA. CVC Uruguay maintains the voting and economic rights related to the common shares.



On October 18, 2019, a loan agreement was executed between Cresud as lender and IFISA as borrower, pursuant to which Cresud loaned 1,500,000 ADRs of IRSA.



On June 22, 2022, a loan agreement was executed between CAM as lender and IFISA as borrower, pursuant to which CAM loaned 1,263,190 common shares of IRSA.

------

 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 17 of 23 Pages**<br>|

---

Schedule A

Eduardo S. Elsztain Bolívar 108, 1<sup>st</sup> floor (1066) Buenos Aires Republic of Argentina Citizen of Argentina

 **Directors of IFIS Limited**

---

| | | | |
|:---|:---|:---|:---|
| 1.<br>| Eduardo S. Elsztain<br> Chairman<br> Clarendon House,<br> 2 Church Street,<br> Hamilton HM 11, Bermuda,<br> Bermuda.<br> Citizen of Argentina<br>| 3.<br>| 3.Mariana Renata Carmona de Elsztain<br> Vice-Chairman<br> Clarendon House,<br> 2 Church Street,Hamilton HM 11, Bermuda,<br> Bermuda.<br> Citizen of Argentina |
| 2. | Saul Zang<br> Director<br> Clarendon House,<br> 2 Church Street,<br> Hamilton HM 11, Bermuda,<br> Bermuda.<br> Citizen of Argentina<br>| 4.<br>| 4.Alejandro Gustavo Elsztain<br> Director<br> Clarendon House,<br> 2 Church Street,<br> Hamilton HM 11, Bermuda,<br> Bermuda.<br> Citizen of Argentina |

---

 **Directors of Consultores Venture Capital Uruguay**

1. Eduardo
S. Elsztain Chairman Ruta 8K 17.500 Edificio@1 Local 106, CP 91609 Montevideo Republic
of Uruguay Citizen
of Argentina 3. Olga
Stirling Director Ruta 8K 17.500 Edificio@1 Local 106, CP 91609 Montevideo Republic of Uruguay Citizen
of Uruguay

2. Martin
Polak Director Ruta 8K 17.500 Edificio@1 Local 106, CP 91609 Montevideo Republic of Uruguay Citizen
of Uruguay 4. Saul
Zang Vice-Chairman Ruta 8 KM 17.500 Edificio@1 Local 160, CP 91600, Montevideo Republic of Uruguay Citizen
of Argentina

------

 **SCHEDULE 13D**

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 18 of 23 Pages**<br>|

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 **Directors of Consultores Assets Management S.A.**

1. Eduardo
S. Elsztain ChairmanBolívar
108, 1st Floor (C1066AAD)
Ciudad Autónoma de Buenos Republic
of Argentina Citizen
of Argentina 3. Mariana
Renata Carmona de Elsztain First
Vice Chairman Bolívar
108, 1st Floor (C1066AAD)
Ciudad Autónoma de Buenos Republic
of Argentina Citizen
of Argentina

2. Saul
Zang Second
Vice Chairman Bolívar
108, 1st Floor (C1066AAD)
Ciudad Autónoma de Buenos Republic
of Argentina Citizen
of Argentina 4. Ilan
Ariel Elsztain Alternate
Director Bolívar
108, 1st Floor (C1066AAD)
Ciudad Autónoma de Buenos Republic
of Argentina Citizen
of Argentina

 **Directors of Consultores Venture Capital Limited**

1. Eduardo
S. Elsztain Chairman 4 th floor Harbour Place, South Church Street P.O. Box 10240, Grand Cayman, KY1-1002, Cayman Islands Citizen of Argentina 2. Saul
ZangVice Chairman 4 th floor Harbour Place, South Church Street P.O. Box 10240, Grand Cayman, KY1-1002, Cayman Islands Citizen of Argentina

 **Directors of Inversiones Financieras del Sur S.A.**

1. Eduardo
S. Elsztain Chairman Ruta 8K 17.500 Edificio@1 Local 106, CP 91609 Montevideo Republic
of Uruguay Citizen
of Argentina 3. Martin
Polak Director Ruta 8K 17.500 Edificio@1 Local 106, CP 91609 Montevideo Republic
of Uruguay Citizen
of Uruguay

2. Saúl
Zang Vice
Chairman Ruta 8K 17.500 Edificio@1 Local 106, CP 91609 Montevideo Republic
of Uruguay Citizen
of Argentina 4. Olga
Stirling Director Ruta 8K 17.500 Edificio@1 Local 106, CP 91609 Montevideo Republic
of Uruguay Citizen
of Uruguay

------

 **SCHEDULE 13D**

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 19 of 23 Pages**<br>|

---

 **Directors of Agroinvestment S.A.**

1. Eduardo
S. Elsztain Chairman
of the Board Zabala 1422, 2nd Floor 11500, Montevideo Republic
of Uruguay Citizen
of Argentina 3. Olga
Stirling Director Zabala 1422, 2nd Floor 11500, Montevideo Republic
of Uruguay Citizen
of Argentina

2. Mariana
Renata Carmona de Elsztain Director Zabala 1422, 2nd Floor 11500, Montevideo Republic
of Uruguay Citizen
of Argentina

 **Directors and Executive Officers of**

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria

 **Directors**

1. Eduardo
Sergio Elsztain Chairman Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 10. Gabriela
Macagni Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

2. Saúl
ZangFirst Vice
Chairman Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 11. Enrique
Alberto Antonini Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

3. Alejandro
Gustavo Elsztain Second
Vice Chairman Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 12. Nicolás
Bendersky Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

4. Alejandro
Mario Bartolomé Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 13. Gabriel
Adolfo Gregorio Reznik Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

5. Alejandro
Gustavo Casaretto Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 14. Eduardo
Ohan Kalpakian Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

------

SCHEDULE 13D

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|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 20 of 23 Pages**<br>|

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6. Fernando
Adrián Elsztain Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 15. Gastón
Armando Lernoud Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

7. Jorge
Oscar Fernandez Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 16. Pedro
Damaso Labaqui Palacio Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

8. Liliana
Irene Glikin Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 17. Ilan
Elsztain Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

9. Mariana
Renata Carmona de Elsztain Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 18. Iair
Elsztain Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

 **Senior Management**

1. Alejandro
Gustavo Elsztain Chief
Executive Officer Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 3. Alejandro
Gustavo Casaretto Chief
Regional Agricultural Officer Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

2. Matías
Iván Gaivironsky Chief
Administrative and Financial Officer Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 4. Diego
Francisco Chillado Biaus Chief
Operative Officer of Argentina Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

 **Directors of Helmir S.A.**

1. Eduardo
Sergio Elsztain ChairmanZabala
1422, CP 11000 Montevideo Republic
of Uruguay Citizen
of Argentina 3. Alejandro
Gustavo Elsztain Second
Vice-ChairmanZabala 1422, CP 11000 Montevideo Republic
of Uruguay Citizen
of Argentina

2. Saúl
Zang First
Vice-ChairmanZabala 1422, CP 11000 Montevideo Republic
of Uruguay Citizen
of Argentina 4. Olga
Stirling DirectorZabala
1422, CP 11000 Montevideo Republic
of Uruguay Citizen
of Argentina

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 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 21 of 23 Pages**<br>|

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 **Directors and Executive Officers of**

IRSA Inversiones y Representaciones Sociedad Anónima

 **Directors**

1. Eduardo
Sergio Elsztain Chairman Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 9. Daniel
R. Elsztain Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

2. Saul
Zang First Vice-Chairman Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 10. Fernando
R. Elsztain Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

3. Alejandro
Gustavo Elsztain Second
Vice-Chairman Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina <br> 11. Ben
Elsztain Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

4. Maria
Julia Bearzi Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 12. Mauricio
Wior Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of USA

5. Oscar
Pedro Bergotto Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 13. Iair
Elsztain Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

6. David
Williams DirectorCarlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos AiresRepublic of ArgentinaCitizen of Argentina 14. Enrique
Antonini Alternate
DirectorCarlos M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos AiresRepublic of ArgentinaCitizen of Argentina

7. Nicolás
Bendersky Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 15. Gaston
Armando Lernoud Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

8. Liliana
De Nadai Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 16. Gabriel
Adolfo Gregorio Reznik Alternate
Director Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

 **Senior Management**

1. Eduardo
Sergio Elsztain Chief
Executive Officer Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 3. Arnaldo
Jawerbaum Chief
Operating Officer Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

2. Matías
Iván Gaivironsky Chief
Administrative and Financial Officer Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina 4. Jorge
Cruces Chief
Investments Officer Carlos
M. Della Paolera 261, 9 <sup>th</sup> floor (C1001ADA)
Buenos Aires Republic
of Argentina Citizen
of Argentina

------

 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 22 of 23 Pages**<br>|

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 **<u>Transactions by the Reporting Persons or persons named in Schedule A in Shares</u>**

 **<u>that were effected during the last 60 days</u>**

 **Annex 1**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**●**

**In the last 60 days Helmir S.A bought 8.368,950 IRSA's common shares at an average price of USD 4.18**

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 **SCHEDULE 13D**

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **CUSIP No. 450047204**<br>| &nbsp;&nbsp;&nbsp; **Page 23 of 23 Pages**<br>|

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 **SIGNATURE**

After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this Statement on Schedule 13D is true, complete and correct.

DATED: February 14, 2023

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| | |
|:---|:---|
| **Eduardo S. Elsztain**<br>| **Consultores Assets Management S.A.**<br>|
| By: /S/ Eduardo S. Elsztain<br> Name: Eduardo S. Elsztain<br>| By: /S/ Eduardo S. Elsztain<br> Name: Eduardo S. Elsztain<br> Title: Chairman of the Board<br>|
| **IFIS Limited**<br>| **Consultores Venture Capital Limited**<br>|
| By: /S/ Eduardo S. Elsztain<br> Name: Eduardo S. Elsztain<br> Title: Chairman of the Board<br>| By: /S/ Eduardo S. Elsztain<br> Name: Eduardo S. Elsztain<br> Title: Chairman of the Board<br>|
| **Inversiones Financieras del Sur S.A.**<br>| **Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria**<br>|
| By: /S/ Eduardo S. Elsztain<br> Name: Eduardo S. Elsztain<br> Title: Chairman of the Board<br>| By: /S/ Eduardo S. Elsztain <br> Name: Eduardo S. Elsztain<br> Title: Chairman of the Board<br>|
| **Helmir S.A.**<br>| **Agroinvestment S.A.** |
| By: /S/ Eduardo S. Elsztain <br> Name: Eduardo S. Elsztain<br> Title: Chairman of the Board<br>| By: /S/ Eduardo S. Elsztain<br> Name: Eduardo S. Elsztain<br> Title: Chairman of the Board |
| **Consultores Venture Capital Uruguay**<br>|  |
| By: /S/ Eduardo S. Elsztain<br> Name: Eduardo S. Elsztain<br> Title: Chairman of the Board<br>|  |

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