THE UNITE GROUP PLC Annual Report and Accounts 2024 166 FINANCIAL STATEMENTS 2.3c) Reconciliation to IFRS To determine EPRA NTA, net assets reported under IFRS are adjusted to exclude the fair value of financial instruments, associated tax and the carrying value of intangibles. To determine EPRA NRV, net assets reported under IFRS are adjusted to exclude the fair value of financial instruments, associated tax and real estate transfer tax. To determine EPRA NDV, net assets reported under IFRS are adjusted to exclude the fair value of financial instruments, but include the fair value of fixed interest rate debt and the carrying value of intangibles. The net assets reported under IFRS reconcile to EPRA NTA, NRV and NDV as follows: 2024 NTA NRV NDV £m £m £m Net asset reported under IFRS 4,811.5 4,811.5 4,811.5 Mark to market interest rate swaps (53.6) (53.6) - Unamortised swap gain (1.0) (1.0) (1.0) Mark to market of fixed rate debt - - 31.7 Unamortised fair value of debt recognised on acquisition 11.1 11.1 11.1 Current tax 0.8 0.8 - Deferred tax - - - Intangibles per IFRS balance sheet (10.4) - - Real estate transfer tax - 467.4 - EPRA reporting measures 4,758.4 5,236.2 4,853.3 2023 NTA NRV NDV £m £m £m Net asset reported under IFRS 4,067.0 4,067.0 4,067.0 Mark to market interest rate swaps (58.1) (58.1) - Unamortised swap gain (1.2) (1.2) (1.2) Mark to market of fixed rate debt - - 35.0 Unamortised fair value of debt recognised on acquisition 15.2 15.2 15.2 Current tax 0.7 0.7 - Deferred tax 0.4 0.4 - Intangibles per IFRS balance sheet (9.3) - - Real estate transfer tax - 306.7 - EPRA reporting measures 4,014.7 4,330.7 4,116.0 NOTES TO THE FINANCIAL STATEMENTS continued