1 July 2022

KCR Residential REIT plc

("KCR" or the "Company")

 Change of Auditor

The Board of KCR Residential REIT plc is pleased to announce the appointment of Grant Thornton U.K. LLP ("Grant Thornton") as auditor to the Company with immediate effect.

The Board has approved the appointment of Grant Thornton as the Company's auditor for the financial year ended 30 June 2022. The re-appointment of Grant Thornton for the financial year ending 30 June 2023 will be subject to approval by shareholders at the next Annual General Meeting of the Company to be held later in 2022.

In accordance with Section 519 of the Companies Act 2006, the Company's previous auditor, BDO LLP, has deposited with the Company a statement confirming that there are no matters to be brought to the attention of the Company's members or creditors.

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Notes to Editors:

KCR's objective is to build a substantial residential property portfolio that generates secure income flow for shareholders. The Directors intend that the group will acquire, develop and manage residential property assets in a number of jurisdictions including the UK.