Lendlease Annual Report 2024

100 Lendlease Annual Report 2024 Consolidated Financial Statements continued Statement of Changes in Equity Year Ended 30 June 2024 Issued Capital Treasury Securities 1 Reserves Retained Earnings Members of Lendlease Corporation Limited Unitholders of Lendlease Trust External Non Controlling Interests Total Equity $m $m $m $m $m $m $m $m Balance as at 1 July 2022 1,891 (77) 184 3,078 5,076 1,867 27 6,970 Total Comprehensive Income Loss for the financial year - - - (278) (278) 46 - (232) Other comprehensive income (net of tax) - - 89 (108) (19) 27 1 9 Total comprehensive income - - 89 (386) (297) 73 1 (223) Other Comprehensive Income (Net of tax) Net investment hedge - - (20) - (20) - - (20) Effect of foreign exchange movements - - 108 - 108 27 1 136 Effective cash flow hedges - - 1 - 1 - - 1 Defined benefit plan remeasurements - - - (108) (108) - - (108) Other comprehensive income (net of tax) - - 89 (108) (19) 27 1 9 Transactions with Owners of the Company Distribution Reinvestment Plan (DRP) 3 - - - 3 1 - 4 Dividends and distributions - - - (39) (39) (78) - (117) Treasury securities acquired - (39) - - (39) - - (39) Treasury securities vested - 49 - - 49 - - 49 Total other movements through reserves 3 10 - (39) (26) (77) - (103) Balance as at 30 June 2023 1,894 (67) 273 2,653 4,753 1,863 28 6,644 Balance as at 1 July 2023 1,894 (67) 273 2,653 4,753 1,863 28 6,644 Total Comprehensive Income Loss for the financial year - - - (1,461) (1,461) (41) - (1,502) Other comprehensive income (net of tax) - - (58) (91) (149) 3 - (146) Total comprehensive income - - (58) (1,552) (1,610) (38) - (1,648) Other Comprehensive Income (Net of tax) Effect of foreign exchange movements - - (51) - (51) 3 - (48) Effective cash flow hedges - - (7) - (7) - - (7) Defined benefit plan remeasurements 2 - - - (91) (91) - - (91) Other comprehensive income (net of tax) - - (58) (91) (149) 3 - (146) Transactions with Owners of the Company Capital contributed by non controlling interests - - - - - - 6 6 Distribution Reinvestment Plan (DRP) 2 - - - 2 1 - 3 Dividends and distributions - - - (32) (32) (89) - (121) Treasury securities acquired - (29) - - (29) - - (29) Treasury securities vested - 29 - - 29 - - 29 Fair value movement on allocation and vesting of securities - - (7) - (7) - - (7) Total other movements through reserves 2 - (7) (32) (37) (88) 6 (119) Balance as at 30 June 2024 1,896 (67) 208 1,069 3,106 1,737 34 4,877 1. Opening balance for number of treasury securities 1 July 2023 was 6 million (1 July 2022: 6 million) and closing balance at 30 June 2024 was 6 million. 2. During the year the Group executed an insurance scheme buy-in in relation to the Lendlease UK Pension Scheme. This transaction involved trading the majority of the scheme’s assets for an insurance policy that covers the scheme’s obligations. The difference between the value of the liabilities insured and the cost of the insurance policy of $75 million (pre-tax) was recognised as a loss in Other comprehensive income. Refer to Note 34 'Defined Benefit Plan' for further detail. The accompanying notes form part of these consolidated financial statements.