Lendlease Annual Report 2021

FY21 segment highlights $8.4 billion additions to pipeline including new urbanisation projects secured in New York, Los Angeles, Birmingham, Boston, Greater Tokyo and Singapore $8.8 billion new work secured $5.1 billion new investment partnerships to drive funds under management GRESB #1 ranked office fund, seven funds ranked in the top 20 100% renewable energy across all Australian building projects $5.6 billion commencements Completed projects Crown Sydney Hotel, Melbourne Quarter residential and commercial, Elephant Park residential for rent $14.5 billion work in progress New partnerships Aware Super: New York and Los Angeles, Ivanhoé Cambridge: Boston, CPP Investments: Milan, NPS: Melbourne Development Construction Investments Development The Development segment is predominantly focused on the creation of mixed use precincts that comprise apartments, workplaces and associated leisure and entertainment amenities. The Group also develops outer suburban masterplanned communities and retirement living villages. Capability We manage the entire development process – from securing land, creating masterplans and consulting with communities and authorities through to project management, sales and leasing. Placemaking is core to our strategy and competitive position. We create places that resonate with communities and contribute to the quality and liveability of our cities by working in partnership with governments, institutions, landowners, investors and the community. Platform $114 billion development pipeline 231 major urbanisation projects located in ten global gateway cities 171 masterplanned communities located in Australia and the US More than 59,000 residential apartments and 57 commercial buildings to be delivered c.44,000 backlog of communities lots Construction The Construction segment provides project management, design and construction services, predominantly in the commercial, residential, mixed use, defence and social infrastructure sectors. Capability Our capability is showcased in the places and structures we create – workplaces for some of the world’s largest organisations and residential apartments, including affordable housing options, hospitals, and other buildings of civic and social importance. An investment in smart design and advanced manufacturing has improved our safety, sustainability and efficiency, including the ability to simulate all aspects of construction, from design to structural integrity and system performance. Our Construction segment typically designs and delivers the built form for our urbanisation projects and will be integral for the successful delivery of our $114 billion urbanisation pipeline. Platform $15 billion construction backlog revenue Key sectors include commercial, defence, social infrastructure and residential 45 per cent of our larger projects delivered for government clients 31 per cent delivered for corporate clients Investments The Investments segment comprises a leading investment and asset management platform and the Group’s investments across the residential, office, retail, industrial and retirement sectors. Capability For decades we have managed funds and assets for some of the world’s largest money managers including sovereign wealth funds and large public and private pension funds. Our expertise spans unlisted and listed property funds and mandates. We offer a research led investment capability supported by active asset management and leadership in sustainability. Our competitive edge lies in the opportunities provided to our investment partners to access the diverse, high quality product created through our integrated model. Our development pipeline will provide a key source of growth for the Investments segment. Growth will be supplemented by pursuing other opportunities with our investment partners. Platform $40 billion funds under management c.150 institutional investment partners $29 billion of commercial and residential assets managed Significant owner and operator of 75  retirement living villages D e v e l o p m e n t I n v e s t m e n t s I n t e g r a t e d B u s i n e s s M o d e l P r o v e n T r a c k R e c o r d Thriving communities C o n s t r u c t i o n Operating segments We pursue an integrated business model – where two or more of our operating segments of Development, Construction and Investments engage on the same project – to create new mixed use precincts, communities and important civic and social infrastructure. As an international real estate Group with a presence in targeted gateway cities, the pandemic had a pervasive impact on operations in FY21. For more information refer to the Performance and Outlook section on pages 56 to 69. Chicago: The Cooper, Southbank 1. Total of 49 development projects, comprising a total of 32 urbanisation projects and 17 communities projects. 19 A sense of place 18 Lendlease Annual Report 2021 Our Business