Has phosphatase activity toward PtdIns(4,5)P2 and at a lower extent toward PtdIns(3,4,5)P3 but not toward Ins(1,4,5)P3. Functions in salt stress response by regulating reactive oxygen species (ROS) production, endocytosis, Ca(2+) influx and stress-responsive genes expression. a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol-4,5-bisphosphate) + H2O = a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol 4-phosphate) + phosphate a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol-3,4,5-trisphosphate) + H2O = a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol-3,4-bisphosphate) + phosphate Specifically expressed in roots. Increased salt sensitivity with reduced production of reactive oxygen species (ROS), reduced Ca(2+) influx, as well as decreased fluid-phase endocytosis. Belongs to the inositol polyphosphate 5-phosphatase family. Sequencing errors.