Irish Residential Properties REIT : Holdings in Company

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Irish Residential Properties REIT Plc

2. Reason for the notification (please tick the appropriate box or boxes): [X] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments [ ] An event changing the breakdown of voting rights [ ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name:

Morgan Stanley

City and country of registered office (if applicable): Wilmington, Delaware, USA

4. Full name of shareholder(s) (if different from 3.)v

Morgan Stanley & Co. International plc

5. Date on which the threshold was crossed or reachedvi: 01.11.2017

6. Date on which issuer notified: 03.11.2017

7. Threshold(s) that is/are crossed or reached: 3,4,5%

8. Total positions of person(s) subject to the notification obligation:

% of voting rights attached to shares (total of 9.A)

% of voting rights through financial instruments

Total of both in

% (9.A + 9.B)

Total number of voting rights of issuervii

(total of 9.B.1 + 9.B.2)

Resulting situation on the date on which threshold was crossed or reached

5.13%

0.08%

5.21%

417,292,006

Position of previous notification (if applicable)

n/a

n/a

n/a

9. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type of shares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

Indirect

Direct

Indirect

IE00BJ34P519

21,393,883

5.13%

SUBTOTAL A

21,393,883

5.13%

B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations

Type of financial instrument

Expiration datex

Exercise/ Conversion Periodxi

Number of voting

rights that may be acquired if the instrument is exercised/converted.

% of voting rights

Right of recall over securities lending agreements

at any time

at any time

335,193

0.08%

SUBTOTAL B.1

335,193

0.08%

B 2: Financial Instruments with similar economic effect according to Regulation

17(1)(b) of the Regulations

Type of financial

Expiration

Exercise/

Conversion

Physical or cash

Number of

voting

% of

voting

instrument

datex

Period xi

settlementxii

rights

rights

SUBTOTAL B.2

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[X] Full chain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held starting with the ultimate controlling

natural person or legal entityxiv:

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Morgan Stanley

Morgan Stanley Capital Management, LLC

Morgan Stanley Domestic Holdings, Inc.

Morgan Stanley & Co. LLC

Morgan Stanley

Morgan Stanley International Holdings Inc.

Morgan Stanley International Limited

Morgan Stanley Investments (UK)

Morgan Stanley & Co. International plc

5.13%

5.13%