Promoting a workplace rooted in fairness, respect and equal opportunity remains an essential part of our people approach.

In the past year, we advanced our transition from standalone diversity, equity, and inclusion initiatives towards a deeper emphasis on belonging, recognising that inclusion is most meaningfully reinforced through everyday interactions and shared values.

Maintaining a balanced and inclusive workforce

Maintaining balanced representation remains a priority. Gender balance across the Group remained broadly even in the last year, with 48% women and 52% men. Women remain well-represented in senior leadership, holding 39.2% of these roles. Progress in this area reflects ongoing efforts to strengthen development pathways, while recognising that change at more senior levels remains gradual.

Embedding belonging into our day-to-day culture

During the year, we continued to roll out our Group-wide Belonging Strategy. The focus is on embedding core values of Integrity, Humility, Adaptability, and Industriousness into everyday behaviours, rather than introducing standalone initiatives.

The first phase of this work has focused on building awareness and shared understanding across the organisation. Activities included leadership messaging and the introduction of a Belonging Library, featuring employee stories that reflect a range of backgrounds and experiences.

These initiatives are designed to encourage open discussion and shared responsibility for culture, although their impact will continue to develop over time as behaviours become more embedded across the business.

Strengthening pathways into employment

We continue to support structured pathways into employment. In Germany, the property industry refugee work programme (PRISMA), remains well established, with a new cohort launched during the year. Former refugees represented 6.9% of the German workforce at year-end, within our 5–10% target range, which we aim to maintain. Our next programme launches in September 2026.

In the UK, the Veterans Programme continues to support individuals transitioning into civilian employment. Four veterans are currently employed through the programme, with planning underway for the next intake. We have also signed the Armed Forces Covenant to demonstrate our support of the armed forces community.

These programmes reflect a practical approach to inclusion, focused on creating clear pathways into employment and supporting long-term integration into the business.

Supporting cross-border connection

Work to strengthen belonging across the organisation was complemented by our international exchange programme. The programme supports collaboration across markets and practical knowledge sharing, helping to deepen relationships across teams.

In October 2025, six colleagues participated in cross-border placements before sharing their insights with senior leadership. The next cohort is planned for July 2026.

Nurturing a culture built on inclusion and equal opportunity

Across belonging and inclusion, our focus remains on maintaining a fair and consistent working environment. While strong foundations are in place, embedding a shared sense of belonging across a growing organisation will require continued focus. By combining structured programmes with the behaviours that guide day-to-day interactions, we aim to foster a culture where colleagues feel respected, supported, and able to contribute fully.