Disposal update and extension of share buyback

PRESS RELEASE

11 May 2026

THE UNITE GROUP PLC

('Unite Group, 'Unite', the 'Group', or the 'Company')

DISPOSAL UPDATE AND EXTENSION OF SHARE BUYBACK

Unite Group, the UK's leading owner, manager and developer of student accommodation, today announces that it has completed the disposal of St Pancras Way to USAF and extended its share buyback programme.

Disposal of St Pancras Way

Further to the announcement on 24 February 2026, Unite has now completed the sale of St Pancras Way to USAF for £186 million (Unite share: £126 million). The disposal price represents a 1% discount to December 2025 book value. Unite will receive approximately £115 million in cash consideration and the balance in new USAF units net of retentions for committed capex. The new USAF units will increase Unite's ownership of USAF to 32% (December 2025: 30%).

The disposal to USAF means the Group remains invested in a high-quality London asset, while enhancing management fee income and releasing capital.

Use of proceeds and share buyback programme

The Board has approved the return of up to an additional £65 million of surplus capital to shareholders through an extension of the share buyback programme of the Company's ordinary shares of 25 pence each announced in January (the 'Buyback Programme'). In aggregate the Buyback Programme is now £165 million.

To date, we have acquired 19.3 million shares at an average cost of 504p and in total repurchased £98 million out of the initial £100 million Buyback Programme.

This reflects confidence in Unite's long-term prospects and high-quality balance sheet and represents a highly attractive investment opportunity for the Company. This tranche will be funded through proceeds from the disposal of St Pancras Way with the balance of proceeds allocated to funding capex for existing on-site developments and university partnerships. Future capital allocation will be kept under review as we continue to progress with our accelerated disposal programme, which is on track to deliver £300-400 million (Unite share) of proceeds in 2026.

ENDS

For further information, please contact:

Unite Group

Joe Lister / Mike Burt / Saxon Ridley Tel: +44 117 302 7005

Press office Tel: +44 117 450 6300

Sodali & Co

Ben Foster / Pete Lambie / Sam Austrums Tel: +44 20 7250 1446

Share buyback programme

The Company has entered into non-discretionary arrangements with Deutsche Bank AG, London branch ('Deutsche Bank') and J.P. Morgan Securities plc ('JP Morgan') to conduct the extension of the Buyback Programme on its behalf. JP Morgan will conduct the first half of the extension of the Buyback Programme and Deutsche Bank will conduct the latter half. Under the arrangements, Deutsche Bank and JP Morgan will act as riskless principals and make trading decisions independently from the Company in accordance with certain pre-set parameters.

The purpose of the Buyback Programme is to reduce the Company's issued share capital. As such, all ordinary shares repurchased by the Company under the Buyback Programme will be cancelled. The Company has agreed that the extension of the Buyback Programme will commence following completion of the initial £100 million tranche and will run until the earlier of its completion or 31 October 2026 (assuming the authority to repurchase shares is approved at the Company's upcoming AGM).

Share purchases under the Buyback Programme will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volumes. The Buyback Programme will be effected under the authority granted by shareholders from time to time. At the Company's 2025 Annual General Meeting held on 15 May 2025, shareholders gave the Company authority to purchase a maximum of 48,879,255 ordinary shares, of which 29,546,586 remains available. At our upcoming AGM, we are seeking authority to repurchase a maximum of 80,179,399 ordinary shares, representing up to 14.99% of share capital as at 31 March 2026, in anticipation of progressing disposals.

The Buyback Programme will be conducted in accordance with the UK Market Abuse Regulation and the UK Listing Rules. The Company will make announcements and publish on its website details of any share repurchases under the Buyback Programme.

About Unite Group

Unite Group is the UK's largest owner, manager and developer of purpose-built student accommodation (PBSA) serving the country's world-leading higher education sector. We provide homes to 72,000 students across 208 properties in 29 leading university towns and cities. We currently partner with over 60 universities across the UK.

Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us. Our accommodation is safe and secure, high quality and affordable. Students live predominantly in en-suite study bedrooms with rents covering all bills, insurance, 24-hour security and high-speed Wi-Fi.

We are committed to raising standards in the student accommodation sector for our customers, investors and employees. Our Sustainability Strategy includes a commitment to become net zero carbon across our operations and developments by 2030.

Founded in 1991 in Bristol, the Unite Group is an award-winning Real Estate Investment Trust (REIT), listed on the London Stock Exchange. For more information, visit www.unitegroup.com, www.unitestudents.com or www.hellostudent.co.uk.