IRSA Propiedades Comerciales S.A. announced that, at its General ordinary and extraordinary shareholders’ meeting held on October 31, 2017, the shareholders approved to appoint Messrs. Eduardo Sergio ELSZTAIN, Saúl ZANG, Alejandro Gustavo ELSZTAIN, Fernando Adrián ELSZTAIN and Daniel Ricardo ELSZTAIN as non-independent regular directors in accordance with the rules of the Argentine Securities Commission, and Messrs. Enrique Alberto ANTONINI, Leonardo Fabricio FERNÁNDEZ, Marcos Oscar BARYLKA and Mrs. Isella Angélica CONSTANTINI as independent regular directors in accordance with the applicable laws. Also approved to appoint Messrs. Gabriel Adolfo Gregorio Reznik, Juan Manuel Quintana, Mauricio Elías Wior, Salvador Darío Bergel, Pablo Daniel Vergara del Carril and Gastón Armando Lernoud as non-independent alternate directors. It is put on record that, pursuant to the bylaws: regular directors Messrs. Alejandro Gustavo Elsztain, Fernando Adrián Elsztain and Leonardo Fabricio Fernández and alternate directors Messrs. Mauricio Elías Wior and Salvador Darío Bergel are appointed for a term of one fiscal year; regular directors Messrs. Saúl Zang, Enrique Alberto Antonini and Isella Angélica Constantini and alternate directors Messrs. Gabriel Adolfo Gregorio Reznik and Pablo Daniel Vergara del Carril are appointed for a term of two fiscal years; and regular directors Messrs. Eduardo Sergio Elsztain, Daniel Ricardo Elsztain, Marcos Oscar Barylka and alternate directors Messrs. Juan Manuel Quintana and Gastón Armando Lernoud are appointed for a term of three fiscal years.