GRN.L Regulatory News (GRN)

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Green 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: 04/11/2019

6. Date on which issuer notified: 06/11/2019

7. Threshold(s) that is/are crossed or reached: 9%*

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 9.B.1 + 9.B.2)

Total of both in % (9.A + 9.B)

Total number of voting rights of issuervii

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

8.99%

0.04%

9.04%

699,469,638

Position of previous notification (if applicable)

9.60%

0.40%

9.99%

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 ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

Indirect

Direct

Indirect

IE00BBR67J55

62,943,993

8.99%

SUBTOTAL A

62,943,993

8.99%

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

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

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

% of voting rights

SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash settlementxii

Number of voting rights

% of voting rights

Equity Swap

28/02/2020

at any time

Cash

4,480

0.001%

Equity Swap

17/06/2021

at any time

Cash

287,576

0.04%

SUBTOTAL B.2

292,056

0.04%

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 thefinancial 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 Capital Services LLC

Morgan Stanley

Morgan Stanley International Holdings Inc.

Morgan Stanley International Limited

Morgan Stanley Investments (UK)

Morgan Stanley & Co. International plc

8.99%

8.99%

Morgan Stanley

Morgan Stanley Capital Management, LLC

Morgan Stanley Domestic Holdings, Inc.

Morgan Stanley Capital Products LLC

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

12. Additional informationxvi:

Of the total voting rights attached to shares in Section 9A, 53,711 (0.01%) of these are the result of stock borrowing agreements

Morgan Stanley's total holding in Green REIT plc remains above the 9.00% threshold previously disclosed, however, this notification is being made on the basis that the holding in section 9A has crossed a relevant threshold in its own right at the component level.