Initiation of Share Buyback

Glenveagh Properties plc ("Glenveagh" or the "Group") announces that it has entered arrangements today with J&E Davy ("Davy") to repurchase ordinary shares of 0.001 each (the "Shares") on Glenveagh's behalf for a maximum aggregate consideration of up to €50 million (the "Buyback").

The purpose of the Buyback is to reduce the share capital of Glenveagh and it will be conducted in accordance with (and within the parameters prescribed by) the Company's general authority to repurchase Shares as approved by shareholders at the Company's AGM on 2 May 2024 (and as such authority may be renewed and/or amended). All Shares repurchased will be cancelled.

The Buyback will commence later today, 6 September 2024, and may continue until 31 December 2025 subject to market conditions, the ongoing capital requirements of the business and in accordance with the Group's capital allocation strategy. Under the terms of the Buyback, the Shares will be repurchased on Euronext Dublin and will be subsequently cancelled.

Glenveagh has entered non-discretionary instructions with Davy, acting as principal, to conduct the Buyback on Glenveagh's behalf and to make trading decisions under the Buyback independently of Glenveagh in accordance with certain pre-set parameters.

There is no guarantee that the Buyback will be implemented in full.