CRESUD (NASDAQ: CRESY, BYMA: CRES) announces that it has decided to extend the expiration date of the exchange offer for the Series XXIII Notes.

Published: Jun. 29, 2022 at 2:50 PM EDT

This is the English translation of the letter filed with the Comision Nacional de Valores and Bolsas y Mercados Argentinos on June 29, 2022, related to an offer in Argentina.

BUENOS AIRES, Argentina, June 29, 2022 /PRNewswire/ -- Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (the "Company") (NASDAQ: CRESY, BYMA:CRES), releases a supplemental notice to the subscription notice dated June 15, 2022, in order to inform the Eligible Holders that the Company has decided to extend the expiration date of its previously announced offer to exchange all of its USD 113,158,632 aggregate principal amount of outstanding 6.50% Series No. 23 Notes due 2023 for 8.00% Series No. 38 Notes due 2026 to be issued. CRESUD hereby extends the expiration date to July 6, 2022, and informs that the Issue and Settlement date will be on July 8, 2022.

According to information provided by the exchange agent, on June 28, 2022, USD 74,506,286 aggregate principal amount of the Existing Notes were validly tendered and were not validly withdrawn, which represents 65.84% of the outstanding aggregate principal amount of the Existing Notes. Of the aggregate principal amount of Tendered Notes, (i) USD 20,888,700, representing approximately 28.04% of the principal amount of Tendered Notes, were tendered under Option A, and (ii) USD 53,617,586, representing approximately 71.96% of the principal amount of Tendered Notes, were tendered under Option B.

Contact: Nicolas Javier Angiulli, NAngiulli@irsa.com.ar; Amalia Sternheim, ASternheim@irsa.com.ar; Santiago Donato, SDonato@irsa.com.ar

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SOURCE Cresud S.A.C.I.F. y A.

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