Empiric Student Property plc

("Empiric" or the "Company" or, together with its subsidiaries, the "Group")

Exercise of LTIP Options and issue of equity

The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation serving key UK universities, announces that applications have been made for 85,803 new ordinary shares of 1 pence each in the Company ("Shares") to be admitted to the premium listing segment of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange ("Admission").

It is expected that Admission will become effective and dealings in the new Shares will commence at 8.00 a.m. on 4 August 2023. Following Admission, the number of ordinary shares the Company has in issue will be 603,437,683 and the total number of voting rights in the Company will be 603,437,683. There are no shares held in Treasury. The figure of 603,437,683 may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The applications have been made to meet obligations arising from a deferred share award granted on 8 April 2020 to Timothy Attlee, the Company's former Chief Executive Officer, pursuant to the deferred shares element of his annual bonus award for the 12-month financial period ended 31 December 2019 in line with the Company's 2014 Long Term Incentive Plan (the "LTIP Award").

When issued, these Shares will rank pari passu with the Company's existing ordinary shares.

ENDS

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

The Company's LEI is 213800FPF38IBPRFPU87.

Further information on Empiric can be found on the Company's website at www.empiric.co.uk.

Notes:

Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation located in high-demand university towns and cities across the UK. Investing in both operating and development assets, Empiric is a fully integrated operational student property business focused on premium studio-led accommodation managed through its Hello Student® operating platform, that is attractive to affluent growing student segments.

The Company, an internally managed real estate investment trust ("REIT") incorporated in England and Wales, listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014.