Lendlease Annual Report 2022

98 Lendlease Annual Report 2022 Mandatory Securityholding • The Global CEO and Executives are required to accumulate and maintain a significant personal investment in Lendlease securities. This policy encourages Executives to consider long term securityholder value when making decisions. What is the Mandatory Securityholding requirement? Mandatory Securityholding Requirement Global CEO 150% of TPV Executives (Australia) 100% of TPV Executives (International) 100% of Base Salary What is counted towards the Mandatory Securityholding requirement? Included Excluded Personally held securities Unvested Deferred STI / STA On foot RSA Unvested LTI / LTA • Until the Mandatory Securityholding requirement is reached, 50 per cent of any vested equity awards (Deferred STI, Deferred STA, RSA, LTI or LTA) will be subject to a disposal restriction (for Executives based in Australia). • Executives based outside of Australia are required to achieve the Mandatory Securityholding requirement within six years of their appointment to a KMP role. • Progress toward the minimum requirement is outlined in the Executive Equity Holdings table on page 100. Securities Trading Policy • The Lendlease Securities Trading Policy applies to all employees of the Lendlease Group. In accordance with the policy, Directors and Executives may only deal in Lendlease securities during designated periods. Hedging • Directors and Executives must not enter into transactions or arrangements that operate to limit the economic risk of unvested entitlements to Lendlease securities. No Director or Executive may enter into a margin loan arrangement in respect of unvested Lendlease securities. • Deferred STI, Deferred STA, RSA, LTI and LTA awards are subject to the Securities Trading Policy, which prohibits Executives from entering into any type of ‘protection arrangements’ (including hedging, derivatives and warrants) in respect of those awards before vesting. Independent Advisor Governance Protocols • Strict governance protocols are observed to so that advisors’ advice to the Committee is made free from undue influence by Executive KMP: – Advisors are engaged by, and report directly to, the Chair of the People & Culture Committee – The agreement for the provision of any remuneration consulting services is executed by the Chair of the People & Culture Committee on behalf of the Board – Any reports delivered by advisors were provided directly to the Chair of the People & Culture Committee; and – Advisors are permitted, where approved by the People & Culture Committee Chair, to speak to management to understand company processes, practices and other business issues and obtain management’s perspectives.