THE UNITE GROUP PLC Annual Report and Accounts 2024 157 COMPANY STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY For the year ended 31 December 2024 Issued share capital Share premium Merger reserve Hedging reserve Retained earnings Total Note £m £m £m £m £m £m At 1 January 2024 109.4 2,447.7 40.2 1.1 1,494.7 4,093.1 Profit and total comprehensive income for the year - - - - 414.0 414.0 Shares issued 4.8 12.8 429.2 - - - 442.0 Unwind of realised swap gain - - - (0.2) - (0.2) Dividends to shareholders 4.9 - - - - (137.8) (137.8) At 31 December 2024 122.2 2,876.9 40.2 0.9 1,770.9 4,811.1 Issued share capital Share premium Merger reserve Hedging reserve Retained earnings Total Note £m £m £m £m £m £m At 1 January 2023 100.1 2,162.0 40.2 1.3 1,514.9 3,818.5 Profit and total comprehensive income for the year - - - - 97.2 97.2 Shares issued 4.8 9.3 285.6 - - - 294.9 Unwind of realised swap gain - - - (0.2) - (0.2) Dividends to shareholders 4.9 - - - - (117.3) (117.3) At 31 December 2023 109.4 2,447.7 40.2 1.1 1,494.7 4,093.1 The notes on pages 158-212 form part of the financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 December 2024 Group Note 2024 2023 £m £m Net cash flows from operating activities 5.1 216.4 153.2 Investing activities Redemption of minority interest 27.9 - Payments for investment property (347.8) - Capital expenditure on properties (267.9) (135.3) Acquisition of intangible assets (5.1) (1.8) Acquisition of plant and equipment (2.5) (0.9) Proceeds from sale of investment property 123.1 - Interest received 16.7 1.3 Dividends received 27.6 27.3 Net cash flows used in investing activities (428.0) (109.4) Financing activities Proceeds from the issue of share capital 442.0 294.9 Payments to acquire own shares (1.5) (0.6) Interest paid in respect of financing activities (35.6) (31.1) Repayment of lease liabilities (8.8) (7.7) Swap cancellation and loan break costs (3.1) - Proceeds from non-current borrowings 543.7 - Repayment of borrowings (350.5) (182.5) Dividends paid to the owners of the Parent Company (124.2) (103.4) Withholding tax paid on distributions (13.6) (12.0) Dividends paid to non-controlling interest - (1.9) Net cash flows from financing activities 448.4 (44.3) Net increase/(decrease) in cash and cash equivalents 236.8 (0.5) Cash and cash equivalents at start of year 37.5 38.0 Cash and cash equivalents at end of year 274.3 37.5