On June 13, 2019, the Company held its 2019 Annual Meeting of Shareholders (the \”Annual Meeting\”). As of April 18, 2019, the record date for holders of common shares of beneficial interest (“common shares”) entitled to vote at the Annual Meeting, there were 11,768,444 common shares outstanding and entitled to vote at the Annual Meeting. Of the common shares entitled to vote, 9,409,315, or approximately 79.95% of the common shares, were present or represented by proxy at the Annual Meeting, constituting a quorum under the Declaration of Trust. There were three matters presented and voted on at the Annual Meeting. Set forth below is a brief description of each matter voted on at the Annual Meeting and the final voting results with respect to each such matter.

Proposal 1 –Election of eight nominees to serve on the Board of Trustees for a one-year term and until their respective successors are duly elected and qualified.

The shareholders elected all eight of the nominees as trustees.

Proposal 2 –Non-binding advisory resolution on executive compensation.

The shareholders approved the non-binding advisory resolution on executive compensation.

Proposal 3 –Ratification of Grant Thornton LLP as the Company\’s independent registered public accounting firm for the fiscal year ending December 31, 2019.

The shareholders ratified the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2019.

About INVESTORS REAL ESTATE TRUST (NYSE:IRET)

Investors Real Estate Trust is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. Its segments include Multifamily, Healthcare and All Other. Its investments consist of multifamily and healthcare properties located primarily in the upper Midwest states of Minnesota and North Dakota. It conducts its business operations through its operating partnership, IRET Properties, which is principally engaged in acquiring, owning, operating and leasing real estate. It invests in multifamily properties and commercial properties that are leased to single or multiple tenants, usually for approximately five years or longer. As of April 30, 2016, the Company held for investment 99 multifamily properties containing 12,950 apartment units and 47 commercial properties, consisting of healthcare, industrial, office and retail, containing approximately 2.9 million square feet of leasable space.