Lendlease Annual Report 2024

14 Lendlease Annual Report 2024 Our business Lendlease is a leading integrated real estate business with an international Investments platform. We leverage our investment management and asset creation skills, as well as development and construction capability, to deliver city shaping projects and create strong and connected communities. For more than 65 years, we have created award-winning urban precincts and delivered essential civic and social infrastructure, and we manage funds and assets for some of the world’s largest real estate investors. Our key differentiator is our end-to-end capability across real estate from concept and planning to design and delivery, through to capital partnering and investment management. This is the essence of our integrated model. In partnership with stakeholders, we aim to create social, environmental and economic value for cities, communities, partners and securityholders. Guiding our behaviours and underpinning our Code of Conduct are our core values which support the success of our business. Our core values Investments The segment comprises international fund and asset management platforms and the Group’s real estate co-investment portfolio. Capability Our expertise spans unlisted and listed real estate funds and mandates. We offer deep investment capability supported by active asset management and leadership in sustainability. Our competitive edge lies in our integrated product creation capability. This is complemented by our capacity to assess and convert on-market opportunities at any stage of a project lifecycle. Our Australian development pipeline is expected to provide a key source of growth for the Investments segment, as is our ability to source select international opportunities to match with capital partner preferences and demand. Platform • $47.3b funds under management • $33.8b assets under management • $3.6b co-investment portfolio Development The segment is focussed on the creation of mixed-use precincts in Australia, including sustainable workplaces, apartments for rent and select luxury apartments for sale. Capability We manage the entire development process – from securing land or management rights, achieving entitlements through planning approvals, creating masterplans and consulting with communities and authorities, through to project management, sales and leasing. Placemaking is core to our Development strategy and competitive position. We create places that resonate with people and contribute to the quality and liveability of our cities by working in partnership with governments, institutions, landowners, investors and the community. We design inclusive and climate-resilient buildings and precincts, targeting top tier sustainability ratings. Platform • $14.5b Work in Progress (WIP) • $11.8b Australian urban development pipeline • >$6b of potential investment product in WIP Construction The segment focusses on Australia and provides external project management, design and construction services, predominantly in the defence, social infrastructure and commercial sectors. Capability Our capability is showcased in the places and structures we create for government and corporate clients, including sustainable workplaces for some of the world’s largest organisations, hospitals and other buildings of civic and social importance, defence housing and infrastructure, data centres and complex projects such as over station developments. This best practice capability is a key differentiator for the business and is leveraged in the delivery of our major urban integrated projects. Our customer relationships and deep capability is also leveraged for origination opportunities. Platform • $7.6b backlog revenue • $3.9b Australian backlog revenue • $10.6b preferred projects (Australia)