Lendlease Annual Report 2024

Governance 63 Governance in action An important role of the Board is in monitoring organisational performance and ensuring that the directors have the information they need to make decisions that deliver sustainable returns to securityholders. Board regional program FY24 and engagement with our people The Board members have approved a code of conduct which articulates the standards of behaviour expected of all our people. The tone is ‘set at the top’ and Board members believe that meeting with our people, in addition to information received in formal meetings on the organisation’s culture, is an important element of reinforcing the Lendlease values. The Board members meet regularly with local teams and in FY24, this occurred in the UK and Australia. The Board program whether in Australia or offshore, typically comprises formal meetings and additional business briefings, presentations from internal and external sources, project site visits, employee events and meetings with key stakeholders. In FY24, in recognition of the need to move to a leaner and more focussed organisation, the Board's regional program shifted so that the international trips occur on an annual basis. These are scheduled in each of the regions where Lendlease operates on a rotational basis. The Board views that these program activities – in addition to the formal, scheduled Board and Committee meetings – are important for Board members to receive a greater understanding of our people and our business and a deep understanding of the activities and operations. The Chair works with the Company Secretary to plan the yearly program. Depending on the time of year, the program runs for a minimum of two days and up to five days where more detailed project reviews are required. In FY24, the Board engagement program included: Europe • Received a briefing from a major Lendlease capital partner on their views on global real estate investment (October 2023) • Received a briefing from the UK based Board advisor on the political and economic landscape in the UK (October 2023) • Engagement with Europe Regional Leadership Team (October 2023) • Town Hall with Europe regional employees (October 2023) • Hosted a round table discussion on topics relevant to the London real estate and investments market (October 2023). Australia • Engagement with regional business leaders to provide updates and overview of key regional business issues • Review of the Melbourne Metro Project followed by a site visit (November 2023) • Review of the Melbourne Quarter precinct followed by a site visit (November 2023) • Site visit to One Sydney Harbour Residences One (February 2024) • Deep dive review of the Queen Victoria Market project (May 2024) • Review of Docklands Projects followed by a site visit (May 2024) • Continued engagement throughout the year with the Global Leadership Team (February 2024 and May 2024) • Town Hall with Australia regional employees (November 2023). Melbourne: Gurrowa Place Queen Victoria Market