Mr. Mark Kenney reports

EUROPEAN RESIDENTIAL REAL ESTATE INVESTMENT TRUST ANNOUNCES RESULTS OF 2023 ANNUAL MEETING

At European Residential Real Estate Investment Trust's annual meeting of unitholders held today, each of the items of business referred to in its management information circular dated April 12, 2023, was passed by a vote held by ballot.

A total of 190,361,192 units and special voting units of ERES, in the aggregate, representing 81.858 per cent of ERES's issued and outstanding units were voted in connection with the meeting. The voting results for each item of business are as shown in the attached table.

All nominees proposed in the circular were elected as trustees.

About European Residential Real Estate Investment Trust

European Residential is an unincorporated, open-ended real estate investment trust. European Residential's REIT units are listed on the Toronto Stock Exchange under the symbol ERE.UN. European Residential is Canada's only European-focused multiresidential REIT, with a current initial focus on investing in high-quality, multiresidential real estate properties in the Netherlands. As at March 31, 2023, European Residential owns a portfolio of 158 multiresidential properties, comprising approximately 6,900 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium.