AC Unity Graduation walkthrough Sequence 3 - Memory 1

Your starting position is on the rooftop from where you can view the yard, where you need to assassinate three guards from cover positions. In order to do a cover assassination, you need to be in a cover position, next to a surface or obstacle and then perform a strike on a target within range.
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The courtyard where you need to kill 3 guards.
If some of the guards are not in the right position, you can show your position to them briefly and hide behind an object from where you will perform the cover assassination.

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Bait the guard and take cover to perform a cover assassination.
Positioning is important, as you can bait each guard one by one and take them down to complete the challenge. You can see the complete walkthrough in the video below:

There is really no correct order for assassinations, so you can pick whichever target you want to take down first. Once all three guards are down, sabotage the alarm bell in the middle.

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Keep up with Bellec over the rooftops.
Bellec appears after the cutscene and you need to follow him over the rooftops. As you move along, you’ll run into two guards. Use a smoke bomb from long range on and assassinate one, while Bellec takes the other guard. Keep following him and dispose of any threats you run across.

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Smoke bombs can be used long range as well.
Keep following Bellec, until you reach Cafe Theatre. If you can’t keep up with him, you’ll have a waypoint. Once you’re there, he’ll show you the assassins headquarters beneath Cafe Theatre. Go inside and follow the waypoint to finish Graduation memory.