Lendlease Annual Report 2022

2 Lendlease Annual Report 2022 About this report The 2022 Lendlease Annual Report has been prepared with reference to the International Integrated Reporting (IR) Framework that encourages businesses to consider what creates value for them and how this value contributes to long term sustainable returns for securityholders. Materiality A matter is considered material if senior management and those charged with governance believe it could significantly impact the value created and delivered in the short, medium and long term. We identify and capture material matters in the following ways: • Project Control Groups (PCGs), which include key internal stakeholders and represent the governance structure for overseeing the completion of the Annual Report • Capturing feedback from key external stakeholders including securityholders, analysts and other relevant groups • Engagement with the Board • Confirming the strategy is consistent and relevant The outcome of these processes are the material issues noted on pages 32 and 33 in Managing and Measuring Value and in Our Business on pages 12 to 17. Directors’ Report and Operating and Financial Review (OFR) The required elements of the Directors’ Report, including the OFR, are featured on pages 4 to 106 of this Report and include the sections: Year in Review; Our Business; Renewal; Our Focus Areas; Risk and Climate-related resilience; Performance and Outlook; and Governance. The OFR is covered specifically on pages 4 to 63. All non-financial metrics included in the Directors’ Report on pages 4 to 55 have been verified through Lendlease's internal verification process. The Remuneration Report on pages 78 to 103 and the Financial Statements on pages 107 to 174 have been audited by KPMG. Reporting suite Our reporting suite provides information about the organisation and its key financial and operational achievements including: • The Annual Report Information about Lendlease, our strategy, integrated financial and operational performance, corporate governance, Directors’ Report, Remuneration Report and Financial Statements • Biannual Results Presentation The current reporting period’s financial results, detailed segment information, investment portfolio, major urban projects and pipeline • www.lendlease.com Additional information on sustainability reporting, corporate governance, tax compliance and historical financial information. Five focus areas underpin our ability to create safe, resilient, economic and sustainable outcomes. Our success is measured by the value we create in these areas. Icons are used throughout this Report linking our activities to this value creation. Focus areas Health and Safety Everyone has the right to go home safely. We remain committed to the health and safety of our people, and all those who interact with a Lendlease place. Financial A strong balance sheet and access to third party capital enables us to fund the execution of our pipeline and deliver quality earnings for our securityholders. Our Customers Our customers love the places we create when we partner effectively, collaborate and innovate. Only through these actions can we respond to a changing world. Our People Our people are the greatest contributors to our success and enable us to fulfil our purpose: Creating places where communities thrive. Sustainability Sustainability is core to our planning and clear in our outcomes. We have a proud history of giving emphasis to environmental, social and economic impacts.