THE UNITE GROUP PLC (the "Company")

25 April 2024

SCRIP REFERENCE SHARE PRICE AND ENHANCED SCRIP DIVIDEND - 2023 FINAL DIVIDEND

On 27 February 2024 the Company announced its 31 December 2023 year end results and that it would be paying a 2023 final dividend of 23.6 pence, fully paid as a Property Income Distribution (PID). The Company also announced, if approved by shareholders at the Company's 2024 AGM to be held on 16 May 2024, it would offer shareholders an enhanced scrip dividend alternative to this 2023 final dividend, enhanced by up to 5% as determined by the Board provided the effective issue price of the scrip divided shares is not less than 920p (the Company's NTA as at 31 December 2023). 

The Scrip Reference Share Price is 924.8p. This is calculated by taking the average of the closing middle market quotation for shares in the Company, derived from the London Stock Exchange Daily Official List, for the five consecutive dealing days from 18 April 2024 to 24 April 2024 (inclusive).

The Board has determined to enhance the 2023 final dividend by c.0.5%, leading to an Enhanced Scrip Dividend of c.23.7p.  This enhancement means an effective discounted scrip reference share price of 920p.

The deadline for application for the Scrip Scheme in respect of this dividend is 5 pm (London time) on 3 May 2024.  More details of the proposed enhanced scrip dividend alternative is included in the Notice of Annual General Meeting 2024 issued to shareholders on 26 March 2024 and available at: www.unitegroup.com/investors/agm-2024

-ENDS-

About Unite Students

Unite Students 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 70,000 students across 157 properties in 23 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. Unite Students' 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 also achieved a five-star British Safety Council rating in our last audit.

We are committed to raising standards in the student accommodation sector for our customers, investors and employees. This is why our Sustainability Strategy, launched in 2021, 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 Unite Group's corporate website www.unitegroup.com or the Unite Students' site www.unitestudents.com