BOARD ACTIVITIES continued STRATEGIC OBJECTIVE Great Place to Invest (continued) Board’s governance role Link to principal risk What the Board did in 2025 and its decision-making Sustainability and ESG: as a listed plc and responsible/ trusted business, our wider stakeholders demand we proactively manage environmental, social and governance risks. The Board oversees the setting and implementation of our sustainability framework, which has the overarching ambition for Unite Students to clearly lead the living sector on sustainability issues and be in the leading pack of real estate companies in the wider sector. Sustainability risk Read more p59 The Board continued its oversight of our sustainability framework and Net Zero Carbon Pathway, built on science-based targets validated by the SBTi, to achieve our objective of becoming net zero carbon across both the Company’s operations and development activities by 2030. The Board also interrogated our ongoing ESG regulatory and reporting compliance. The Board considered the specific climate change risks, identifying them across: Regulatory risk; Physical risk; Transition risk; and Stakeholder risk. The Board considered the impact of these risks and oversees the assurance of the corresponding risk management. The Board was supportive of our ongoing commitment to the Unite Foundation and to care leavers. In September 2025, we signed the Care Leaver Covenant to help widen access and participation in Higher Education. Read more about sustainability p44 Fire safety: proactive Board oversight of improvements in fire safety and demonstrating leadership on cladding remediation. Operational risk Major health and safety incident in a property or a development site Read more p57 The Board continued to oversee the cladding remediation programme and ongoing investment plan. Covenants’ compliance: Group Board oversight of our Covenants’ compliance. Financial risk Read more p61 The Board monitors Covenants’ compliance across a range of income/ stress scenarios to ensure that if any risks emerge, the Board is ready to identify further action and work with lenders well in advance. Covenant compliance also has oversight in the Audit & Risk Committee and by the external audit review of our Covenant compliance through the Going Concern process. Read more in the Financial review p35 Capital structure: Group Board focus on a strong and flexible capital structure, which can adapt to market conditions, and reducing and diversifying the cost of funding. Financial risk Read more p61 During the year, the Board approved the acquisition of Empiric Student Property plc which completed in January 2026. The Board also approved the Company’s share buyback programme, launched in January 2026, to return up to £100 million of surplus capital to shareholders (representing approximately 3% of the Company’s issued share capital). Read more in the Financial review p35 THE UNITE GROUP PLC Annual Report and Accounts 2025 98 GOVERNANCE