THE UNITE GROUP PLC Annual Report and Accounts 2024 14 INVESTMENT CASE STRATEGIC REPORT We are the UK’s largest owner, manager and developer of purpose-built student accommodation. Sustainable Growth 18-year-old participation rate in 2024/25 36.2% Structurally growing sector High-quality portfolio Aligned to the strongest universities Our portfolio is increasingly focused on the UK’s leading universities, where we see the strongest prospects for student number growth, through our new investment activity and disciplined capital recycling. Value-for-money We offer students a high-quality and value-for-money living experience, with support on hand if it is needed. Our pricing is inclusive of utilities, Wi-Fi, contents insurance and maintenance. Investing to enhance our operational estate There is a multi-year opportunity to enhance rents and reduce operational costs through refurbishment projects and energy efficiency measures which improve the student experience and reduce resource use in our buildings. Share of the rental portfolio by value in Russell Group cities 93% Demographic growth The UK’s 18-year-old population is set to grow by 11% by 2030, supporting demand for an additional c.100k undergraduate places at current participation rates. Rising Higher Education participation 2024/25 saw a record number of UK 18-year-olds starting university, demonstrating young people’s recognition of the opportunities and life experience that university provides. Graduates earn £100,000 more over their lifetime than non-graduates, underlining the continued value of university education. Growing attractiveness of UK Higher Education The new government is more supportive of international students and recognises the value they bring, both to the Higher Education sector and society more broadly. This more welcoming tone contrasts with the introduction of caps on student numbers in Australia and Canada, two of the UK’s leading competitors for international students. 1 2