For immediate release

19 January 2024

Irish Residential Properties REIT plc

(the “Company” or “I-RES”)

I-RES Board notes the Vision Response

The Board of Irish Residential Properties REIT plc (“I-RES”) notes the press release and associated documents (“Vision Response”) published by Vision Capital (a 5% shareholder in I-RES) on 18 January 2024.

The Vision Response, which is under legal review, is misleading, contains inaccuracies and depends on unsupported statements attributed to unidentified third parties. The Board stands by the contents of its circular which was prepared to meet the standard set by the Irish Takeover Panel and published on 8 January 2024 (the “Circular”). I-RES will respond in due course to the Vision Response and ahead of the EGM.

The Vision Response highlights the risks to shareholders of implementing Vision’s narrowly focused plan to sell the Company or its assets. As set out in the Circular, I-RES has sought to engage constructively with Vision and avoid the unnecessary costs and potential damage which Vision’s actions risk for I-RES’ shareholders.

The Board continues to recommend that shareholders vote against the EGM resolutions proposed by Vision to seek to control the Board of I-RES through the appointment of five Vision Nominees to the nine existing Board seats. The Strategic Review announced by I-RES on 8 January 2024 should be overseen by the existing elected independent and highly-skilled Board who have delivered strong operational performance and will evaluate all value maximisation options in the interests of all shareholders.

END

For further information please contact:

For Investor Relations at Irish Residential Properties REIT plc:

Luke Ferriter, Investor Relations   Tel: +353 (0) 1 563 4000

Margaret Sweeney, Chief Executive Officer Tel: +353 (0) 1 557 0974

For Media Queries:

Padraig McKeon, I-RES PR and Communications Tel: + 353 (0) 87 231 2632

Jonathan Neilan, FTI Consulting   Tel: +353 (0) 86 231 4135

About Irish Residential Properties REIT plc

Irish Residential Properties REIT plc (“I-RES”) is a growth oriented Real Estate Investment Trust providing quality professionally managed homes in sustainable communities in Ireland. The Group owns 3,734 apartments and houses for private rental in Dublin and Cork. I-RES aims to be the provider of choice for the Irish living sector, known for excellent service and for operating responsibly, minimising its environmental impact, and maximising its contribution to the community. The Company's shares are listed on Euronext Dublin. Further information at

Important notices

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise.

The release, distribution or publication of this announcement in jurisdictions outside Ireland may be restricted by laws of the relevant jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Responsibility Statement

The directors of I-RES accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.