Quantitative information about fair value measurements using unobservable inputs (Level 3) continued 2024 Class of asset Fair value £m Valuation technique Unobservable inputs Range Weighted average London – rental properties 1,286.7 RICS Red Book Net rental income (£ per week) Estimated rental growth (% p.a.) Discount rate (yield) (%) £214 – £479 2% – 3% 4.2% – 4.8% £351 3% 4.5% Prime regional – rental properties 1,314.2 RICS Red Book Net rental income (£ per week) Estimated rental growth (% p.a.) Discount rate (yield) (%) £160 – £342 2% – 9% 4.3% – 7.1% £221 4% 5.1% Major regional – rental properties 1,346.7 RICS Red Book Net rental income (£ per week) Estimated rental growth (% p.a.) Discount rate (yield) (%) £87 – £224 2% – 6% 5.1% – 7.9% £158 3% 6.2% Provincial – rental properties 100.7 RICS Red Book Net rental income (£ per week) Estimated rental growth (% p.a.) Discount rate (yield) (%) £119 – £171 2% – 6% 7.2% – 38.1% £133 3% 14.7% London – development properties 269.5 RICS Red Book Estimated cost to complete (£m) Estimated rental growth (% p.a.) Discount rate (yield) (%) Net rental income (£ per week) £71m – £171m 3% 4.4% – 4.5% £299 – £485 £123m 3% 4.5% £345 Prime regional – development properties 157.7 RICS Red Book Estimated cost to complete (£m) Estimated rental growth (% p.a.) Discount rate (yield) (%) Net rental income (£ per week) £22m – £263m 3.0% 4.4% – 5.2% £247 – £271 £165m 3% 4.6% £258 Major regional – development properties 13.0 RICS Red Book Estimated cost to complete (£m) Estimated rental growth (% p.a.) Discount rate (yield) (%) Net rental income (£ per week) £107m 3% 5.4% £236 £107m 3% 5.4% £236 4,488.5 Investment property – build-to-rent 69.8 RICS Red Book Net rental income (£ per week) Estimated rental growth (% p.a.) Discount rate (yield) (%) £490 3% 4.6% £490 3% 4.6% Development property – build-to-rent 11.2 RICS Red Book Estimated cost to complete (£m) Estimated rental growth (% p.a.) Discount rate (yield) (%) Net rental income (£ per week) £17m 3% 4.4% £226 £17m 3% 4.4% £226 4,569.5 Investment property – leased 71.8 Discounted cash flows Net rental income (£ per week) Estimated rental growth (% p.a.) Discount rate (yield) (%) £119 – £233 1% – 5% 10.0% £156 3% 10.0% Fair value at 31 December 2024 4,641.3 THE UNITE GROUP PLC Annual Report and Accounts 2025 171