Lendlease Annual Report 2021

Our five focus areas of value creation Area of focus Material issue How we deliver value Value created How we measure value Health and Safety Operating safely across our operations and projects. Maintaining the health and wellbeing of our employees and those who engage with our assets and sites We are committed to the safety of our people and those who interact with our assets and sites. Through our Global Minimum Requirements (GMRs) we operate to a consistent standard across all operations. These GMRs extend to physical safety and people’s mental health and wellbeing Operating safely helps people feel valued and cared for and fundamentally makes us more consistent, reliable and efficient in everything we do Percentage of projects with no critical incidents: A critical incident is an event that has the potential to cause death or permanent disability. This is an indicator unique to Lendlease Critical Incident Frequency Rate: A Lendlease indicator measuring the rate of critical incidents Lost Time Injury Frequency Rate: An indicator and industry standard measuring a workplace injury which prevents a worker from returning to duties the next day Financial Delivering securityholder returns. Maintaining strong capital management to support ongoing investment in our future pipeline We deliver returns to our securityholders and adopt a prudent approach to capital management with a view to maintaining a strong balance sheet throughout market cycles Margins, fees and ownership returns across Development, Construction and Investments. Our Portfolio Management Framework sets target guidelines for how we manage our portfolio Core Operating Return on Equity: The annual Core Operating Profit after Tax attributable to average securityholders’ equity throughout the year Core Operating Earnings per Security: Core Operating Profit after Tax attributable to Securityholders divided by the average number of securities on issue during the year Our Customers Understanding our customers and responding to changes in the market. Designing and delivering innovative, customer driven solutions to win the projects we want to win and ultimately deliver the best places Embedding a process of continuous improvement based on customer insights and actions identified through market research. This approach also consistently measures customer satisfaction and advocacy Evolves our ability to improve the customer experience, building our brand and reputation, enabling us to win more work and grow our business. Customer feedback also provides greater insight into product development and innovation opportunities Customer satisfaction and advocacy tracked: Measured at the regional and business unit level and reported regularly to our Global Leadership Team and the Board. Action plans are developed to drive continuous improvement in the customer experience, supporting the delivery and growth of our development pipeline, construction backlog and funds under management Our People Attracting, developing and retaining diverse talent. Ensuring we have the right capability across the organisation to deliver results for all stakeholders We attract, develop and retain diverse talent by building a culture of collaboration and continuous learning where successes are recognised and people are rewarded. We invest in developing leaders and capabilities to drive our success Capable and motivated people committed to the long term success of our business. Effective succession planning and leadership transitions support business continuity and can reduce risks. Diversity of thought and experience can support innovation, knowledge sharing and better decision making Retention of key talent: The organisation benefits from its investment in leaders and key workforce capabilities Succession strength: Demonstrates depth of capable talent ready to progress into leadership roles Leadership positions held by women: Demonstrates our broader commitment to diversity and inclusion and our objective of increasing female representation across our business Sustainability Designing, delivering and operating buildings and precincts that respond to the immediate challenge of reducing carbon emissions while creating social value. Meeting the increasing expectations of key stakeholders for climate resilient assets that support human health and value natural capital As a signatory to the United Nations Global Compact, we are committed to the continuous improvement of our operations. We integrate strategies to mitigate the impact of climate change. For example, as a developer Lendlease is committed to the creation of independently rated green certified buildings and precincts and climate resilient communities. We aim to deliver inclusive, healthy and adaptable places that can thrive through change Recognised leadership in sustainability enhances our brand and is a competitive differentiator. It also provides more opportunities to partner with governments, investors and the private sector who are placing increasing importance around Environmental Social Governance (ESG) matters Measurement of, and reporting on our progress towards our sustainability targets and the tangible examples of the ways in which we are addressing our sustainability imperatives Carbon Target: We are a 1.5ºC aligned company: • Net Zero Carbon Scope 1 and 2 by 2025 • Absolute Zero Carbon by 2040 Social Target: Create $250 million of social value by 2025 33 A sense of place 32 Lendlease Annual Report 2021 Managing and Measuring Value