First Day of Dealings

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, BY ANY MEANS OR MEDIA, IN OR INTO, THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

Yew Grove REIT plc

(the "Company" or "Yew Grove REIT")

First day of dealings

Yew Grove REIT plc is pleased to announce the commencement of dealings in its ordinary shares at 8.00 a.m. today, following Admission to trading on both the AIM market of London Stock Exchange plc ("AIM") and the Enterprise Securities Market of Euronext Dublin ("ESM"). The ordinary shares will trade under the TIDM "YEW".

The total number of ordinary shares of €0.01 each in the Company in issue immediately following Admission is 75,000,000 each carrying one vote. Accordingly, the total number of voting rights in the Company is 75,000,000. The total voting rights figure can be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and/or under the Companies Act, 2014 of Ireland.

Investec Bank plc ("Investec") is acting as Nominated Adviser, ESM Advisor, Bookrunner, Financial Adviser and Broker to the Company in relation to the Placing and Admission. Fidante Partners Europe Limited (trading as Fidante Capital) ("Fidante Capital") is acting as Lead Manager to the Company in relation to the Placing.

Further information on Yew Grove REIT is available on its website http://www.ygreit.com

Enquiries:

Except where the context requires otherwise, capitalised terms used in this announcement have the meaning given to them in the Company's announcement dated 5 June 2018.

Notes to editors:

Yew Grove REIT raised gross proceeds of approximately €75 million to invest in a diversified portfolio of Irish commercial property, with a particular focus on well-tenanted commercial real estate assets comprising office and industrial assets let to Irish government entities and other state bodies, IDA Ireland supported and other FDI companies, and larger corporates, located in a geographic target market.

The Company agreed to acquire a seed portfolio with effect from admission (the "Seed Portfolio"). The Seed Portfolio comprises ten properties, valued, in aggregate, at approximately €25.9 million.

Important Information

Investec Bank plc, which is authorised in the UK by the Prudential Regulation Authority ("PRA") and regulated by the Financial Conduct Authority ("FCA") and the PRA, has been appointed as Nominated Adviser (pursuant to the AIM Rules for Companies) to the Company. Investec Bank plc is acting exclusively for the Company in connection with the Placing and Admission and is not acting for any other person and will not be responsible to any person for providing the protections afforded to clients of Investec Bank plc or for advising any other person in connection with the transaction and arrangements detailed in this announcement. Apart from the liabilities and responsibilities (if any) which may be imposed on Investec Bank plc by the Financial Services and Markets Act 2000 (as amended) ("FSMA") or the regulatory regime established thereunder, no liability whatsoever is accepted by Investec Bank plc for the accuracy of any information or opinions contained in this announcement or for the omission of any material information, for which it is not responsible, nor has it authorised the contents of any part of this announcement. Investec Bank plc makes no representation or warranty, express or implied, concerning the contents of this announcement, including its accuracy, completeness or verification, or concerning any other statement made or purported to be made by it, or on its behalf, in connection with the Company or the Ordinary Shares.

Investec Bank plc (Irish Branch), which is authorised in Ireland by the CBI, has been appointed as Financial Adviser, ESM Advisor (pursuant to the ESM Rules for Companies) and Bookrunner to the Company. Investec Bank plc (Irish Branch) is acting exclusively for the Company in connection with the Placing and Admission and is not acting for any other person and will not be responsible to any person for providing the protections afforded to clients of Investec Bank plc (Irish Branch) or for advising any other person in connection with the transaction and arrangements detailed in this announcement. Apart from the liabilities and responsibilities (if any) which may be imposed on Investec Bank plc (Irish Branch) by FSMA or the regulatory regime established thereunder (to the extent applicable) or under the regulatory regime of any jurisdiction where the exclusion of liability under the relevant regime would be illegal, void or unenforceable, no liability whatsoever is accepted by Investec Bank plc (Irish Branch) for the accuracy of any information or opinions contained in this announcement or for the omission of any material information, for which it is not responsible, nor has it authorised the contents of any part of this announcement. Investec Bank plc (Irish Branch) makes no representation or warranty, express or implied, concerning the contents of this announcement, including its accuracy, completeness or verification, or concerning any other statement made or purported to be made by it, or on its behalf, in connection with the Company or the Ordinary Shares.

Fidante Partners Europe Limited (trading as Fidante Capital) ("Fidante Capital") which is authorised and regulated in the United Kingdom by the FCA, has been appointed as Lead Manager to the Company. Fidante Capital is acting exclusively for the Company in connection with the Placing and is not acting for any other person and will not be responsible to any person for providing the protections afforded to clients of Fidante Capital or for advising any other person in connection with the transaction and arrangements detailed in this announcement. Apart from the liabilities and responsibilities (if any) which may be imposed on Fidante Capital by FSMA or the regulatory regime established thereunder, Fidante Capital accepts no liability whatsoever for the accuracy of any information or opinions contained in this announcement or for the omission of any material information, for which it is not responsible, nor has it authorised the contents of any part of this announcement. Fidante Capital makes no representation or warranty, express or implied, concerning the contents of this announcement, including its accuracy, completeness or verification, or concerning any other statement made or purported to be made by it, or on its behalf, in connection with the Company or the Ordinary Shares.

The responsibilities of Investec, as nominated adviser under the AIM Rules and the AIM Rules for Nominated Advisers, and as ESM Advisor under the ESM Rules and Rules for Enterprise Securities Markets Advisors, are owed solely to the London Stock Exchange and Euronext Dublin, respectively, and are not owed to the Company or any of its directors, shareholders or to any other person.

This announcement includes forward looking statements concerning the Company that are based on the current expectations of the Board and are naturally subject to uncertainty and changes in circumstances. Forward looking statements include and can be identified by, without limitation, statements containing the words "believes", "intends", "expects", "anticipates", "targets", "estimates" or their negative or other similar expressions. Such forward looking statements involve risks, uncertainties and other factors which may cause the Company's actual results, financial condition, performance or achievement of its, or its industry results, to be materially different from future results, financial condition, performance or achievements expressed or implied by the forward looking statements set out in this announcement. Given these risks and uncertainties, prospective investors should not place undue reliance on such forward looking statements as a prediction of actual outcomes.

The forward looking statements set out in this announcement speak only as at the date of this announcement. Save as required by law or regulation (including the AIM Rules and ESM Rules), the Company undertakes no obligation to publicly release the results of any revisions to any forward looking statements in this announcement that may occur due to any change in the Board's expectations or beliefs or to reflect events or circumstances after the date of this announcement.

The distribution of this announcement in certain jurisdictions may be restricted by law and, therefore, persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions could result in a violation of the laws of such jurisdiction. In particular, this announcement is not for distribution in or into the United States, Canada, Australia, the Republic of South Africa or Japan.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.