End of Stabilisation - Cairn Homes PLC

Not for distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia or any jurisdiction in which such distribution would be unlawful.

End of Stabilisation Notice

Credit Suisse, Stabilising Manager in the issue of the following securities hereby gives notice that the Stabilising period ended on 18th June 2015.

The stabilising manager announces that the following transactions were effected during the stabilisation period:

This announcement is for information purposes only and does not constitute an invitation or Issue to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction.

The distribution of this announcement, any related documents, and the offer, sale and/or issue of the Shares in certain jurisdictions may be restricted by law. No action has been taken to permit a public offer of the Shares or permit possession or distribution of this announcement, other than in Ireland and the United Kingdom. Persons into whose possession this announcement (or any other offer or publicity material or application form relating to the Shares) comes are required to inform themselves about and to observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions. This announcement does not constitute or form part of an offer to sell, or the solicitation of an offer to buy or subscribe for, Shares to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful and, in particular, is not for release, publication or distribution in or into the United States, Australia, Canada or Japan.

This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.

Credit Suisse Securities (Europe) Limited is authorised in the United Kingdom by the PRA and regulated in the United Kingdom by the FCA and PRA. Credit Suisse Securities (Europe) Limited is acting for the Company and no one else in connection with the Issue and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Credit Suisse Securities (Europe) Limited nor for providing advice in connection with the Issue.