IRS.W

These are warrants to purchase common stock of IRSA Inversiones y Representaciones S.A., Argentina's leading real estate company. Warrants are derivative securities that give holders the right, but not the obligation, to purchase the underlying common shares at a predetermined price (strike price) before a specified expiration date. These instruments provide leveraged exposure to IRSA's stock price movements. Warrant holders do not receive dividends or voting rights until they exercise their warrants and convert them into common shares. The value of these warrants depends on the relationship between the strike price and the market price of IRSA common stock.