THE UNITE GROUP PLC Annual Report and Accounts 2024 52 RISK MANAGEMENT Proactive and resilient GOVERNANCE The Board maintains oversight of risk. It maintains a robust risk management framework and internal control system. The Audit & Risk Committee supports the Board by receiving assurance reporting, reviewing the effectiveness of risk management and internal control processes. Our risk management framework enables the Board to clearly identify risks, assess our risk profile and set risk appetite, ensuring risks are managed and mitigated transparently and effectively. This includes being agile and resilient to macroeconomic and geopolitical challenges. RISK MANAGEMENT Our risk management approach combines a top- down strategic analysis with a bottom-up operational view. The output is a number of strategic risks under seven principal categories. The Board conducts a twice-yearly dedicated risk review. As part of this, it undertakes an assessment of the principal Group risks, including those emerging risks that would threaten our business model, future performance, solvency or liquidity as well as the Group’s strategic objectives. The Board considers both internal and external factors when assessing our risks. During 2024, we also considered our long-term strategic aims and assessed both the opportunities and risks. Alongside this, the Board also considered emerging risks and their potential impact upon the business. A challenging macroeconomic environment and geopolitical instability requires an agile approach to risk management. This also provides us with flexibility to make the most of opportunities. STRATEGIC REPORT Reflecting on 2024 Considered our long-term growth until 2030 Laid the foundations for our new core technology and financial systems Successfully navigated the impacts of macroeconomic factors on our strategy Shaped our future resilience through development of our people and teams Enhanced our IT infrastructure and security Our priorities for 2025 Increase efficiency with new technologies Consider risks and mitigations for our strategic objectives Continue to assess the impacts of macroeconomic factors on our financial and operational performance