Cresud SA Q3 FY2020 earnings call

• First time issuing shares to acquire assets for Brasilagro, adding 29,000 acres.
• Historical record of planting area growth by 9% across four countries (Argentina, Brazil, Bolivia, Paraguay).
• Argentina's urban segments affected by lockdowns in shopping centers and hotels; Israel's supermarkets and some real estate less impacted by lockdowns.
• Issued $83 million of annual bond with 3.5% fixed rate, improving liquidity.

Agribusiness: Adjusted EBITDA increased almost 45% due to higher productivity in agriculture (rice, sugar cane). Brasilagro had a real estate acquisition via share issuance, adding 29,000 acres. Planting area grew 9% year-to-year to 271,000 hectares. Urban Segments (Argentina): Small decrease of 2.7% due to shopping centers and hotels. Israel Business Center: EBITDA increased, supermarkets like Shufersal and Mehadrin performed well, with real estate segments having varying impacts depending on essential vs. non-essential activities.

• Finishing next quarter's annual balance sheet. - Expecting to continue buying and selling real estate, with agriculture harvest ongoing. - Urban segments affected by opening delays, but consumption expected to rebound once openings occur.

• Impact of lockdowns in Europe and Argentina affecting fourth quarter results. - Volatility in currency devaluation affecting financial results. - Tax and export changes affecting next agriculture campaign.

Q: No questions A: No questions