Lendlease Annual Report 2024

Financial Statements 127 LENDLEASE GLOBAL COMMERCIAL REIT LENDLEASE RETIREMENT LIVING TRUST 1 PAYA LEBAR QUARTER THE EXCHANGE TRX Statement of Financial Position June 2024 June 2023 June 2024 June 2023 June 2024 June 2023 June 2024 June 2023 $m $m $m $m $m $m $m $m Current assets Cash and cash equivalents 38 57 27 24 171 158 108 87 Other current assets 19 18 55 86 12 8 56 19 Total current assets 57 75 82 110 183 166 164 106 Non current assets Investment properties 4,092 4,047 8,868 8,310 3,174 3,338 1,976 1,840 Equity accounted investments 5 9 - - - - - - Other non current assets 108 105 38 51 6 23 25 27 Total non current assets 4,205 4,161 8,906 8,361 3,180 3,361 2,001 1,867 Current liabilities Resident liabilities - - 5,755 5,349 - - - - Financial liabilities (excluding trade payables) 398 472 2 2 - - 67 28 Other current liabilities 57 60 59 105 77 77 76 94 Total current liabilities 455 532 5,816 5,456 77 77 143 122 Non current liabilities Financial liabilities (excluding trade payables) 1,314 1,200 935 888 1,944 1,938 669 654 Other non current liabilities 28 29 - - 34 27 - - Total non current liabilities 1,342 1,229 935 888 1,978 1,965 669 654 Net assets 2,465 2,475 2,237 2,127 1,308 1,485 1,353 1,197 Reconciliation to Carrying Amounts Opening net assets 1 July 2,475 2,285 2,127 2,055 1,485 1,458 1,197 956 Total comprehensive income/ (loss) for the financial year 87 124 110 99 (181) 36 144 11 Acquisition/(capital reduction) 21 40 - - 107 (105) 79 263 Distributions (118) (91) - (27) (107) - (48) - Foreign currency translation for the financial year - 117 - - 4 96 (19) (33) Closing net assets 2,465 2,475 2,237 2,127 1,308 1,485 1,353 1,197 % ownership 27.9% 26.9% 25.1% 25.1% 30.0% 30.0% 60.0% 60.0% Group's share of net assets 688 665 561 534 392 446 812 718 Other adjustments (103) (113) (1) (3) (34) (55) (64) (33) Carrying amount at end of the financial year 585 552 560 531 358 391 748 685 1. The carrying amount at the end of the financial year differs to Note 12b ‘Joint Ventures’ due to an impairment of $13 million. Material joint ventures had $219 million (June 2023: $135 million) in capital expenditure commitments. The table below provides summarised financial information for those associates and joint ventures that are individually immaterial to the Group: ASSOCIATES JOINT VENTURES June 2024 June 2023 June 2024 June 2023 Statement of Financial Position $m $m $m $m Aggregate carrying value of individually immaterial equity accounted investments 155 161 3,467 3,341