Last chance for IRSA (NYSE: IRS) warrant holders to exercise in May 2026

Rhea-AI Filing Summary

IRSA Inversiones y Representaciones S.A. announces the final opportunity for holders to exercise their share warrants on May 11 and 12, 2026, which is also the expiration date. Intermediaries such as Caja de Valores may apply earlier internal cut-off times for receiving instructions.

Each warrant entitles the holder to receive 1.6367 common shares at an exercise price of USD 0.2641 per share. Holders may also use a “Net Exercise with Par Value Contribution” cashless alternative, receiving shares based on the difference between the cash exercise price and the market value before the exercise period, while paying only the par value and any applicable ADS issuance fee.

Key Figures

Final warrant exercise dates: May 11–12, 2026 Share ratio per warrant: 1.6367 common shares Exercise price: USD 0.2641 per share +2 more

5 metrics

Final warrant exercise dates May 11–12, 2026 Last opportunity to exercise IRSA warrants before expiration

Share ratio per warrant 1.6367 common shares Each warrant entitles the holder to this number of shares

Exercise price USD 0.2641 per share Cash exercise price for shares received via warrants

ADS issuance fee USD 0.05 per ADS Fee charged by BNY on conversion of common shares into ADS

Shareholders’ meeting date October 30, 2025 Approval of cashless Net Exercise with Par Value Contribution

Key Terms

warrants, Net Exercise with Par Value Contribution, cashless, ADS, +1 more

5 terms

warrants financial

"informs holders of options to receive shares (“warrants”) that the final opportunity"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

Net Exercise with Par Value Contribution financial

"may elect to exercise their warrants under the “Net Exercise with Par Value Contribution” (cashless) modality"

cashless financial

"under the “Net Exercise with Par Value Contribution” (cashless) modality, as approved"

A cashless transaction is any deal settled without exchanging physical money; value is transferred by swapping or adjusting securities, like shares or options, rather than paying cash. For investors this matters because cashless settlements preserve a company’s cash balance but can change share counts or ownership percentages, affecting dilution, earnings per share and the value of holdings—similar to trading goods for goods instead of using cash at checkout.

ADS financial

"in the event of conversion of common shares into ADS"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

ADS issuance fee financial

"plus the ADS issuance fee charged by BNY (USD 0.05 per ADS)"

Form 6-K: How Foreign Companies Report to the SEC →

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 FORM 6-K

 REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15b-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of April, 2026

 IRSA Inversiones y Representaciones Sociedad Anonima

(Exact name of Registrant as specified in its charter)

IRSA Investments and Representations Inc.

(Translation of registrant´s name into English)

 Republic of Argentina

(Jurisdiction of incorporation or organization)

Carlos Della Paolera 261 9th Floor

(C1001ADA)

Buenos Aires, Argentina

 (Address of principal executive offices)

 Form 20-F ⌧ Form 40-F  ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐ No x

IRSA INVERSIONES Y REPRESENTACIONES SOCIEDAD ANONIMA

(THE “COMPANY”)

REPORT ON FORM 6-K

Attached is an English translation of the letter dated April 28, 2026, filed by the Company with the Bolsa de Comercio de Buenos Aires and the Comisión Nacional de Valores.

Buenos Aires, April 28, 2026 – IRSA Inversiones y Representaciones S.A. (NYSE:IRS;BYMA:IRSA), informs holders of options to receive shares (“warrants”) that the final opportunity to exercise such warrants will take place on May 11 and 12, 2026, which is also the expiration date. Please note that Caja de Valores and/or the respective intermediaries may establish earlier internal cut-off dates for the receipt of exercise instructions.

In accordance with the applicable terms and conditions, each warrant entitles its holder to receive 1.6367 common shares, each with a par value of ARS 10, at an exercise price of USD 0.2641 per share.

Furthermore, we remind holders that they may elect to exercise their warrants under the “Net Exercise with Par Value Contribution” (cashless) modality, as approved by the Shareholders’ Meeting held on October 30, 2025. Under this alternative, holders will receive shares equivalent to the difference between the cash exercise price and the market value of the business day prior to the start of the exercise period, and will only be required to pay the par value of the shares to be issued (ARS 1 per share), plus the ADS issuance fee charged by BNY (USD 0.05 per ADS), in the event of conversion of common shares into ADS.

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.

	IRSA Inversiones y Representaciones Sociedad Anónima
	By:	/s/ Saúl Zang
		Saúl Zang
April 28, 2026		Responsible for the Relationship with the Markets


 
 
 
 
 
 
 
 
 
 
 

FAQ

When is the final exercise period for IRSA (IRS) warrants?

The final period to exercise IRSA warrants is May 11 and 12, 2026. After these dates, the warrants expire. Holders should check with Caja de Valores or their intermediaries, which may set earlier internal deadlines for receiving exercise instructions.

How many IRSA shares does each warrant provide upon exercise?

Each IRSA warrant entitles its holder to receive 1.6367 common shares. This fixed ratio applies during the final exercise window in May 2026 and determines how many shares a holder receives for each warrant exercised.

What is the exercise price for IRSA (IRS) warrants?

The exercise price for IRSA warrants is USD 0.2641 per share. This price applies when holders exercise their warrants for cash during the specified final exercise period in May 2026, based on the number of shares each warrant provides.

What is the cashless 'Net Exercise with Par Value Contribution' option at IRSA?

The cashless “Net Exercise with Par Value Contribution” lets holders receive shares equal to the difference between the cash exercise price and the market value before the exercise period, while paying only the shares’ par value and any applicable ADS issuance fee.

Was the IRSA cashless warrant exercise alternative approved by shareholders?

Yes. IRSA’s cashless “Net Exercise with Par Value Contribution” warrant exercise alternative was approved at the Shareholders’ Meeting held on October 30, 2025, allowing holders to opt for this structure during the final exercise window.

Is there an extra fee when converting IRSA shares into ADS upon warrant exercise?

Yes. If holders convert common shares received from warrant exercise into ADS, they must pay an ADS issuance fee of USD 0.05 per ADS charged by BNY, in addition to the required par value contribution.