Lendlease Annual Report 2024

All financial amounts in this report are in Australian dollars unless otherwise specified. Lendlease Corporation Limited ABN 32 000 226 228 Incorporated in NSW Australia Lendlease Responsible Entity Limited ABN 72 122 883 185 | AFS Licence 308983 as responsible entity for Lendlease Trust ABN 39 944 184 773 | ARSN 128 052 595 1 Contents Year in Review 4 Chairman’s Report 6 Group Chief Executive Officer’s Report 8 FY24 snapshot 10 Our Business 12 Our business 14 Our strategy 15 Investments 16 Development 18 Construction 20 Managing and measuring value 22 Our focus areas 24 Health and safety 26 Financial 28 Our customers 30 Our people 32 Sustainability 34 Risk and Climate- Related Resilience 40 Risk governance and management 42 Climate-related strategic resilience 46 Performance and Outlook 48 Group performance 50 Investments segment 52 Development segment 53 Construction segment 54 Financial position and cash flow movements 55 Governance 56 Board of Directors’ information and profiles 58 Governance in action 63 Remuneration Report 68 Directors’ Report 92 Lead Auditor’s Independence Declaration 94 Financial Statements 95 Other Information 186 Corporate directory 188 Securityholder information 189 Glossary 192