For immediate release

11 January 2024

Irish Residential Properties REIT plc

(the “Company” or “I-RES”)

Appointment of Chair Designate

The Board of Irish Residential Properties REIT plc (“I-RES”) announces its decision to appoint Hugh Scott-Barrett to succeed Declan Moylan, as Chair of the I-RES Board, with effect from the publication of the Company’s 2023 results scheduled for 23 February 2024.

As previously announced by the Company, Declan Moylan will not seek re-election to the Board at the Company’s Annual General Meeting to be held on 2 May 2024.

Hugh Scott-Barrett’s appointment follows a rigorous succession process, led by Joan Garahy, Senior Independent Director, with a selection committee from the Board and conducted with the assistance of external advisers in line with the UK Corporate Governance Code. This process has been ongoing through the second half of 2023 and has considered external and internal candidates.

Hugh Scott-Barrett was appointed to the Board as an Independent Director in September 2022. The Board has taken into account Hugh’s extensive board and governance experience and his deep understanding of the international listed real estate sector.

Hugh Scott-Barrett is currently a non-executive Director and Senior Independent Director of Balanced Commercial Property Trust Limited, a FTSE250 UK REIT listed on the London Stock Exchange. Hugh has experience at board level for over 20 years across real estate, asset management, and banking. He was Non-Executive Chairman at the UK specialist property REIT Capital & Regional plc until May 2020 and previously served as Chief Executive of the company prior to this from 2008-2017. He was previously Chairman of GAM Holding AG and also a member of ABN AMRO’s managing board serving as Chief Operating Officer and Chief Financial Officer and before that worked at SBC Warburg and Kleinwort Benson.

Hugh Scott-Barrett will assist Declan Moylan, in his capacity as Chair of the Nomination Committee, in bringing to a conclusion the Company’s ongoing succession process for the CEO.

Hugh, as Chair Designate, will oversee the I-RES Strategic Review (“Strategic Review”) announced on 8 January 2024. That review will comprise a comprehensive consideration of all strategic options available to the Company to maximise and unlock value for Shareholders. This will include, but not be limited to, new strategic initiatives, consolidation, combination, merger or other corporate action, a review of the Company’s status as a listed REIT, the sale of the entire issued share capital of the Company and selling the Company’s assets and returning capital to Shareholders.

Commenting on the appointment, Joan Garahy, Senior Independent Director, said:

“I am pleased to confirm the decision to appoint Hugh Scott-Barrett to the role of Chair. The quality of the candidates has been high. Hugh will provide the right mix of board, real estate and business skills and experience and has a deep understanding of our commitment to serve all our shareholders.

I would also like to place on record our sincere thanks to Declan Moylan for his leadership as Chair of the Board on behalf of all shareholders, other stakeholders and the Board over the past ten years.  Declan has made a hugely important contribution to the growth of I-RES”.

Hugh Scott-Barrett, Chair Designate, said

“I look forward to working with the Board as Chair.  I-RES is an outstanding business and plays a key role in the Irish housing market. I am committed to leading and delivering the Strategic Review to look at all options to maximise value for all shareholders.”

END

For further information please contact:

For Investor Relations at Irish Residential Properties REIT plc:

Luke Ferriter, Investor Relations investors@iresreit.ie  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 ires@fticonsulting.com  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 www.iresreit.ie.

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.