The strength of our relationships with universities, the quality and affordability of our portfolio and focus on UK customers saw lettings outperform the wider PBSA sector, where occupancy averaged around 86%. Annual rents increased by 4.0% on a like-for-like basis for the 2025/26 academic year (2024/25: 8.2%), with 4.6% growth across our nominated beds. This reflected our success in agreeing increased rental levels on renewals of single-year and new multi- year nomination agreements, where our university partners recognise the value our accommodation provides. Rents for direct-let tenancies increased by 3.6%, partly impacted by a reduction in average tenancy length of around 0.5 weeks to 47.6 weeks. UK universities attract young people from around the world for the quality of learning and life experience they offer. This demand for university education and our accommodation is supported by demographic growth, with the UK population of 18-year-olds forecast to grow 6% (50,000) by 2030, and strong PERFORMANCE REVIEW Operations review Stronger cities continue to deliver KARAN KHANNA CHIEF OPERATING OFFICER We achieved occupancy of 95.2% across our portfolio for the 2025/26 academic year (2024/25: 97.5%) as changing student behaviour at lower-ranked universities and slower leasing following major projects impacted lettings. Occupancy 95.2% (2024: 97.5%) Rental growth 4.0% (2024: 8.2%) Beds under nomination agreements 59% (2024: 57%) THE UNITE GROUP PLC Annual Report and Accounts 2025 23