THE UNITE GROUP PLC Annual Report and Accounts 2024 64 STRATEGIC REPORT PORTFOLIO PERFORMANCE TEAM INVESTMENT PERFORMANCE TEAM OPERATIONS PERFORMANCE TEAM • Chaired by the Group Asset Management Director until September then the Chief Operating Officer on an interim basis. • Manages climate risk and opportunities in investment decisions, such as improving EPC ratings and energy performance of existing properties. • Manages sustainability investment performance against budgets for the Unite Group, including consideration of climate-related risks and issues in investment opportunities. • Chaired by the Group Development Director, responsible new property- related investment. • Manages climate risk and opportunities with regards to potential development sites. • Tasked with reducing embodied carbon and improving operational energy performance of developments, in line with our 2030 net zero carbon target. • Chaired by the Group Operations Director, responsible for operating the investment property portfolio. • Address climate risks and opportunities through improved operational management of buildings and education of student customers. • Ensures plant is properly maintained to operate at designed energy efficiency. • Identifies opportunities to secure low-carbon energy through Power Purchase Agreements. • Reviews, monthly, detailed financial performance relating to energy use, taking actions to mitigate variance from approved budget. CHIEF EXECUTIVE AND EXECUTIVE COMMITTEE The Chief Executive is ultimately responsible for managing climate risk, realising climate opportunities and implementing the Sustainability Strategy with support from the Executive Committee. The Executive Committee reviews the annual business plan, and long-term Strategic Plan for Unite Group, which covers all aspects of performance including climate risks and opportunities, ahead of recommending it to the Board. On a monthly basis, the Executive Committee reviews actual and forecast performance, including climate-related performance as appropriate, taking action to improve wherever necessary, and reports this progress to the Board. UNITE GROUP PLC BOARD • Ultimate responsibility for setting Unite Group strategy, prioritisation of activities and capital allocation. • Provides challenge to management on target setting and performance. • Ensures Unite Group maintains an effective risk management framework, including climate-related risks and opportunities. The Board delegates specific climate matters to its Committees: SUSTAINABILITY COMMITTEE REMUNERATION COMMITTEE AUDIT AND RISK COMMITTEE • Four meetings in 2024. • Oversees development and implementation of our Sustainability Framework and recommends any changes to the Board. • Reports progress to the Board quarterly with input from across the Group. • Chaired by Dame Shirley Pearce with two Non-Executive Director members. • Attended by Group Chair, CEO, CFO, Head of Sustainability and Group People Director. • Three meetings in 2024. • Chaired by Nicky Dulieu with three Non-Executive Director members. • Engages with shareholders to inform target setting, including climate- related objectives. • Supports the Sustainability Framework by aligning remuneration and incentive targets to the strategy. • Five meetings in 2024. • Chaired by Ross Paterson with three Non-Executive Director members. • Ensures climate-related risks and opportunities are identified, assessed, then effectively mitigated and managed as part of overall risk management framework. • Oversees preparation of Unite Group’s financial disclosures, including TCFD, and the Annual Report. SUSTAINABILITY TEAM • Led by the Head of Sustainability, a dedicated team with operational responsibility for coordinating the implementation of the Sustainability Framework. • Head of Sustainability regularly reports progress to the Portfolio and Operations Performance Teams, Executive Committee and attends Sustainability Committee meetings. • Responsible for developing asset transition plans, implementing energy and carbon reduction capital projects, ensuring EPC and wider energy and climate-related compliance. • Produces reporting on climate-related and sustainability performance. I R I R I R I R ORGANISATIONAL STRUCTURE AND RESPONSIBILITIES FOR MANAGING CLIMATE-RELATED RISKS RISK MANAGEMENT continued I R