14 December 2017

Empiric Student Property plc

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

Notification of LTIP Option Award / PDMR

The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, announces that on 12 December 2017, the Company granted nil-cost options over a total of 135,610 ordinary shares in the Company ("Ordinary Shares") pursuant to the Empiric Long Term Incentive Plan (the "LTIP") to Lynne Fennah, the Company's Chief Financial Officer.

The amount represents the maximum number of Ordinary Shares that may be granted to Lynne Fennah under the LTIP. The price used to calculate the number of Ordinary Shares was £1.0739, representing the average of the daily closing prices of the Ordinary Shares on the London Stock Exchange for the 12 month period ended 30 November 2017.

The LTIP is subject to a performance condition linked to Total Shareholder Return, measured to the period ending 30 June 2019 and is expected to vest in November 2019 if the condition is met. The performance condition is designed to ensure alignment between the incentivisation of the Company's Executive Directors and the interests of shareholders.

The total number of Ordinary Shares over which nil-cost options were granted on 12 December 2017 represents approximately 0.02 per cent. of the Company's issued share capital.

The above transactions took place in the United Kingdom, with a grant date of 12 December 2017 and the Directors being notified on 12 December 2017.

For further information on the Company, please contact:

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

The Company's LEI is 213800FPF38IBPRFPU87.

Notes:

Empiric Student Property plc is a leading provider and operator of modern, direct-let, nominated or leased student accommodation across the UK. Investing in both operating and development assets, Empiric is a multi-niche student property company focused on, (i) providing good quality first year accommodation managed through its Hello Student® operating platform in partnership with universities, (ii) offering a variety of second and third year purpose built accommodation options for individual students and those wanting a group living environment, and (iii) continuing to expand the Group's existing premium, studio-led accommodation portfolio which is attractive to international and postgraduate students.

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.