Holding(s) in Company

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Empiric Student Property plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

X

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

The Goldman Sachs Group, Inc.

4. Full name of shareholder(s)  (if different from 3.):iv

Goldman Sachs International

Goldman, Sachs & Co.

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

23 January 2017

6. Date on which issuer notified:

25 January 2017

7. Threshold(s) that is/are crossed orreached: vi, vii

Above 3%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00BLWDVR75

Below 3%

Below 3%

0

0.00%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

Stock Loan (Physical)

Open

15,098,970

3.01%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

15,135,157

3.02%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

The Goldman Sachs Group, Inc.; 15,135,157 shares; 3.02%

Goldman Sachs (UK) L.L.C. (Controlled by The Goldman Sachs Group, Inc.) 15,098,970 shares; 3.01%

Goldman Sachs Group UK Limited (Controlled by Goldman Sachs (UK) L.L.C.) 15,098,970 shares; 3.01%

Goldman Sachs International (Controlled by Goldman Sachs Group UK Limited) 15,098,970 shares; 3.01%

The Goldman, Sachs & Co. L.L.C. (Controlled by The Goldman Sachs Group, Inc.)

Goldman, Sachs & Co. (Controlled by The Goldman, Sachs & Co. L.L.C.)

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

Please note, total amount of voting rights have been rounded to 2 decimal places therefore there is a possibility of a rounding error.

General email contact:

[email protected]

14. Contact name:

Joanna Foley

15. Contact telephone number:

+44 207 051 9996