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Dividend Declaration

10th May 2017

The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, has declared a dividend of 1.525 pence per Ordinary Share in respect of the quarter ended 31 March 2017, payable on or around 31 May 2017 to Ordinary Shareholders on the register on 19 May 2017. The ex-dividend date will be 18 May 2017.

1.000 pence of this dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business and 0.525 pence will be paid as an ordinary UK dividend ("non-PID").

The Board is targeting a dividend of 6.1p per share for the 12 months ending 30 June 20171. The Board expects dividend payments for the year ending 31 December 2017 to be substantially covered by adjusted EPRA earnings for the period.

Note: (1) The target dividend is a target only and not a forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or actual future results.

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The Empiric plc management team has a long track record in the acquisition, development and management of student accommodation assets in the UK.

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Empiric Student Property plc
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