THE UNITE GROUP PLC Annual Report and Accounts 2024 92 CUSTOMERS: Student wellbeing INVESTORS: £450m capital raise ENVIRONMENT: Sustainable procurement The Board oversees the continued development and improvement of our Support to Stay framework, built into our operating platform. This framework provides a holistic approach to wellbeing and support services. You can read more about our Support to Stay framework on pages 12 and 45. Following consultation with a significant number of our shareholders, the Board approved a capital raise of approximately £450 million in July 2024. Through the raise the Board acted to promote the long-term sustainable success of the Company. This capital raise will be used to support continued investment into our market-leading platform, and the acquisition of new assets from Unite Student Accommodation Fund. It will also help support our Newcastle University joint venture, enhancing future returns for shareholders through delivery of new housing, which supports the growth of our university partners while contributing to wider society. The successful completion of the capital raise is evidence of the strong investor support for the Board’s decision-making in this area. The Board recognises the challenges associated with addressing our operational Scope 3 emissions (outside construction) and is aware that 99% of our third-party carbon footprint is attributable to our Tier 1 suppliers. With this in mind, the Board endorsed a renewed emphasis by our procurement and sustainability teams on gathering data and setting baselines during the year, as well as enhancing our approach to ethical procurement. The Board also supported our first sustainability day, which was focused on sharing best practices among our highest impact suppliers. Looking ahead to 2025, the Board will continue to monitor progress in this area. proactively manage environmental, social and governance risks. We understand the significant contribution that property makes to global carbon emissions and how essential it is that we play our part in the fight against climate change. Through the Sustainability Committee, the Board has oversight of our environmental impact through continued review of our sustainability framework. This strategy specifies clear targets to reduce our environmental impact over time. In addition, our Net Zero Carbon Pathway, published in December 2021, details our approach to reach net zero carbon across our operations and developments in support of our 2030 targets. Engagement around environmental impact comes indirectly through feedback from investors, students, universities and local communities, all of which is considered by the Board in its decision-making. Further information on our sustainability framework can be found on page 43. We have highlighted some key decisions demonstrating how the Board has taken Section 172 matters into account in decision-making: OUR SECTION 172 STATEMENT continued GOVERNANCE