Irish Residential Properties REIT

Legal Proceedings Report • Oct 3, 2017

2 October 2017

This announcement contains inside information regarding Irish Residential Properties REIT plc for the purpose of the Market Abuse Regulation (Regulation (EU) No 596/2014)

I●RES Announces Rockbrook Appeal Denied

Irish Residential Properties REIT plc ("I•RES" or the "Company") announces today that it has received an Order from An Bord Pleanála (the "Board") (the Irish Planning Appeal Board) determining the Company's appeal against the decision of Dun Laoghaire-Rathdown County Council to refuse planning permission for its planned development of 456 apartments at Rockbrook, Sandyford. The Board has upheld the decision of Dun Laoghaire-Rathdown County Council and refused planning permission for the proposed apartment development.

I•RES' Chief Executive Officer David Ehrlich commented: "Naturally, we are very disappointed at the result of the appeal. We are ready, willing and able to develop additional apartments. Everyone recognizes the housing crisis in and around Dublin and I•RES wants to be part of the solution because we intend to be in Ireland over the very long term."

The Company will submit a revised planning application at an early date and intends to avail of the new fast track arrangements for large scale housing development.

For further information please contact:

For Investor Relations: Irish Residential Properties REIT plc David Ehrlich, CEO +1 (416) 861-2467

For Media Requests: Q4PR Gerry O'Sullivan + 353 87 2597644

About Irish Residential Properties REIT plc

Irish Residential Properties REIT plc is an Irish Real Estate Investment Trust ("REIT") listed on the Irish Stock Exchange. The Company is the first REIT established in Ireland primarily focused on residential rental accommodations. The Company will continue to seek to acquire, hold, manage and develop investments primarily focused on residential rental accommodations in Ireland. I•RES currently owns 2,449 apartments. Further information in respect of I•RES can be obtained from I•RES' website at www.iresreit.ie.

Note on forward-looking information

This note applies if and to the extent that there are forward-looking statements in this Announcement.

This Announcement may contain forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement. The Company will not undertake any obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.