Lendlease Annual Report 2024

38 Lendlease Annual Report 2024 Creating social value On track to reach our target Since launching our Social Value Target, we have created $222m of social value through the work of our shared value partnerships, funded by the Lendlease Foundation through a trust established in 1983 to enrich the lives of our employees and the community. Social value is created when an activity makes a positive impact on an individual’s quality of life or improves the resilience of a community. The social value accounted for in support of our target is calculated through placing a financial value on the quantified change people experience across a series of social outcomes, and is verified by an external party. We are confident in our ability to achieve our Social Value Target of $250m by the end of the next financial year, and have commenced a strategic review of the social impact agenda to determine our direction beyond the 2025 target. $222m of social value created, which equates to 89% of our $250m by 2025 target 1 Key achievements of our Social Value Target After four years of supporting and assessing our portfolio of charitable, shared value partnerships, we are seeing long term positive outcomes being achieved and significant social value being created. As at 30 June 2024, we have achieved some outstanding results and impact: • 50+ shared value partnerships and programs supported and measured. • 200k+ beneficiaries of our social impact efforts with shared value partners. • 395 unique social outcomes delivered, including improved employability, increased educational opportunities, reduced risk of suicide, and enhanced First Nations connection to community. Regional shared value partnerships Shown below is a small sample of the shared value partnerships funded by the Lendlease Foundation across our four regions, highlighting the social value created and the connection to Lendlease projects and assets. Australian Red Cross Hideout Youth Zone Billion Oyster Project Project Dignity We are partnering with the Australian Red Cross on a placed- based initiative in Katherine in the Northern Territory, supporting initiatives that are owned, managed and led by the local community. We are creating an estimated return of $5.50 for every $1 invested, producing strong outcomes across First Nations engagement, disaster preparedness, and community inclusion, with direct business linkages to our Tindal RAAF base project. In London and Manchester, we are working with Hideout Youth Zone, a charity supporting young people with ‘somewhere to go, something to do, and someone to talk to’. Based in communities with lower socio-economic outcomes, this program has created an estimated return of $7.50 for every $1 invested alongside Lendlease employee volunteering activities and work experience opportunities for young adults within the program at Lendlease locations. In New York City, we support the work of the Billion Oyster Project, focussed on the restoration of critical oyster reef habitats through community awareness and engagement efforts. Creating an estimated $6 of social value for every $1 invested, this partnership has produced significant volunteer and educational opportunities for our New York based employees and has been engaged as part of our 1 Java Street project’s social and community initiatives. In Singapore, we partnered with Project Dignity, an organisation dedicated to the training and employment of people with disabilities. Through this partnership, we have created an estimated return of $6.50 for every $1 invested and been able to link program graduates to opportunities in our retail assets and support Project Dignity with volunteering and catering opportunities within our business. 1. Our global corporate social value target does not include social impact activities across our projects and assets in each region.