Lendlease Annual Report 2021

Social value Progress towards our social value target $47.3 million social value created to date through the work of our shared value partnerships – 18.9% achieved of our $250 million goal by 2025 8 shared value partnerships assessed 14 additional partnerships to undergo assessment Step 1 Implement an industry accepted methodology. Partnered with the Australian Social Value Bank (ASVB), Australia’s largest bank of verifiable social outcomes, to determine a simple yet robust methodology for assessing social value creation across shared value partnerships and social programs within our business, projects and assets Piloting of this methodology will occur through FY22 Step 2 Benchmark our existing portfolio of partnerships. Worked with Social Impax and Think Impact to commence assessment of Lendlease Foundation shared value partnerships to evaluate social value created, attributable to our social value target Financial proxies were used to determine the social value we created across the different countries where the programs took place. This has allowed us to better understand social value creation through a cultural and country specific lens Step 3 Establish new partnerships and processes to expand our social value creation. Continued to look for new not for profit and charity organisations, aligned to the Lendlease Foundation Constitution and Sustainability Framework, to partner with in the creation of social value outcomes Commenced a partnership in China called ‘Future Smile’, which aims to raise awareness and education for senior citizens around diabetes and Alzheimer's disease Partnered with Billion Oyster Project to restore oyster reefs, which help to promote biodiversity, protect shorelines, and clean waterways in New York Harbor Step 4 Expand social evaluation efforts to our projects and assets. Worked with ASVB to establish relevant social value financial proxies and an assessment methodology suitable for us on our projects and assets Commenced the design and build of a 'Communities Module' in Footprint, our sustainability database, to assist in the collection of social value metrics across the business Elevate Reconciliation Action Plan (RAP) Providing cultural engagement and learning for all employees 5,153 Lendlease employees in Australia have completed face to face or online cultural awareness learning since FY12 Recognition of Country and the story of place is implemented at the beginning of our projects Making First Nations businesses foundational in our supply chain 155 Supply Nation businesses engaged (registered and certified Indigenous businesses) $65.4 million spent in FY21 with registered and certified Indigenous businesses Our procurement goal aligns with the national Raising the Bar initiative, which sets annual targets to embed First Nations owned businesses in our supply chain Supporting First Nations voices within Lendlease 1 per cent of Lendlease Australian employees identify as First Nations Australians 8 First Nations Australian employees sit in leadership roles We’re focused on bringing First Nations leadership into senior management roles FY21 Actions C R E A T E $ 2 5 0 m O F S O C I A L V A L U E B Y 2 0 2 5 • Our third Reconciliation Action Plan (RAP) and second Elevate RAP titled Country, Truth and our Shared Story , launched in October 2020. This is our second Elevate RAP, and third overall, which builds upon the learning and feedback we have received over the past 10 years from our RAP Expert Panel, First Nations communities, employees, RAP partners and businesses. The RAP outlines our commitment to Australia’s First Nations peoples by acknowledging their unbroken connection to country and creating respectful relationships to provide opportunities for equal social and economic outcomes. Our leadership commitment is to lift the industry standard of placemaking by incorporating the self determination principles and voices of First Nations peoples in what we do. Our RAP actions move us closer to the vision of a reconciled nation. They demonstrate how we align our operational performance with our commitment to human rights, specifically the rights of Australia’s First Nations peoples. Shoreline Queensland: Yarn on Quandamooka Country and Danggan Balun Country New York Harbor: Oyster reef restoration Image credit: John Suhar 45 A sense of place 44 Lendlease Annual Report 2021 Managing and Measuring Value