Lendlease Annual Report 2022

All financial amounts in this report are in Australian dollars unless otherwise specified. Lendlease Corporation Limited ABN 32 000 226 228 Incorporated in NSW Australia Lendlease Responsible Entity Limited ABN 72 122 883 185 | AFS Licence 308983 as responsible entity for Lendlease Trust ABN 39 944 184 773 | ARSN 128 052 595 1 Contents Year in review 4 Chairman’s Report 6 Global Chief Executive Officer’s Report 8 FY22 snapshot 10 Our business 12 Vision, purpose and strategy 14 Operating segments 16 Renewal 18 The power of the city 20 Growing our investments platform 22 Development, at scale 24 Execution excellence 26 1 Java Street, New York 28 Our focus areas 30 Managing and measuring value 32 Health and Safety 34 Financial 36 Our Customers 38 Our People 40 Sustainability 42 Risk & climate-related resilience 48 Risk governance and management 50 Climate-related strategic resilience 52 Performance and Outlook 56 Group performance 58 Investments segment 60 Development segment 61 Construction segment 62 Financial position and cash flow movements 63 Governance 64 Board of Directors’ information and profiles 66 Engagement 72 Remuneration Report 78 Directors’ Report 104 Lead Auditor’s Independence Declaration 106 Financial Statements 107 Other Information 182 Corporate directory 184 Securityholder information 185 Glossary 188