Lendlease Annual Report 2022

82 Lendlease Annual Report 2022 Executive Reward Strategy In 2021, the Board undertook a holistic review of the Executive Reward Strategy to confirm the framework continues to reflect the Purpose and Strategy of the Group. The review sought to enhance alignment of the reward structure and outcomes with shareholder interests and future strategic priorities. The 2022 Executive Reward Strategy continues to be informed by our Purpose, Strategy and Remuneration Principles. Our Purpose We create places where communities thrive. Our Strategy Employ our placemaking expertise and integrated business model in global gateway cities to deliver urban projects and investments that generate social, environmental and economic value. Remuneration Principles Remuneration at Lendlease should be: Aligned with securityholder interests Transparent and easy to communicate Aligned with team behaviours and enterprise leadership Market competitive to retain highly capable executives Balanced with a significant portion of remuneration at risk, which is only earned for outstanding performance Longer dated and aligned to our earnings profile, reflecting the importance of urbanisation projects Risk management focused with clear practices that minimise potential conflicts of interest and enable effective and aligned decision making