NOTICE OF CHANGE IN OWNERSHIP IN COMPLIANCE WITH CHAPTER 9, SECTION 10 OF THE SECURITIES MARKET ACT

Orava Residential REIT plc

Stock Exchange Release 20 October 2017, 9:45 a.m.

NOTICE OF CHANGE IN OWNERSHIP IN COMPLIANCE WITH CHAPTER 9, SECTION 10 OF THE SECURITIES MARKET ACT

Orava Residential REIT (Business ID: 2382127-4) has received on 19 October 2017 a disclosure under chapter 9, section 5 of the Securities Market Act, according to which, the holdings of Investors House Oyj exceeded the 25 per cent limit of Orava Residential REIT's shares due to the execution of the Investors House Oyj’s exchange offer. According to the disclosure, Investors House Oyj holds directly 2,414,582 Orava Residential REIT's shares, representing 25.2 per cent of Orava Residential REIT's shares and votes on 18 October 2017.

The proportions were calculated in relation to the number of 9,598,910 shares and related votes registered in the Trade Registery at 24 January 2017. The Company has one series of shares and each share entitles to one vote.

Helsinki 20 October 2017

Orava Residential REIT plc

Additional information:

Pekka Peiponen, CEO, tel. +358 (0)10 420 3104

Veli Matti Salmenkylä, CFO, tel. +358 (0)10 420 3102