Lendlease Annual Report 2024

66 Lendlease Annual Report 2024 Board of Directors’ information Interests in Capital The interests of each of the Directors in the stapled securities of the Group at 19 August 2024 are set out below. The current Non Executive Directors acquired Lendlease securities using their own funds. Directors Securities held directly 2024 Securities held beneficially/ indirectly 2024 Total 2024 Securities held directly 2023 Securities held beneficially/ indirectly 2023 Total 2023 M J Ullmer - 200,000 200,000 - 175,000 175,000 A P Lombardo 1 152,130 138,007 290,137 86,895 141,144 228,039 A S Chan ("Margaret Lui") - 20,000 20,000 - 3,000 3,000 P M Coffey - 71,216 71,216 - 51,216 51,216 N R Collishaw - 45,000 45,000 - 25,000 25,000 D P Craig - 136,000 136,000 - 106,000 106,000 B A Knoflach 2 10,000 - 10,000 - - - E M Proust 3 - 123,061 123,061 - 83,061 83,061 N M Wakefield Evans - 38,000 38,000 - 38,000 38,000 R F Welanetz 1 27,000 - 27,000 27,000 - 27,000 1. Prior year balances were restated. 2. As B A Knoflach was appointed to the Board on 1 October 2023, a nil balance is shown at the beginning of the financial year. 3. As at 30 June 2023 E M Proust holds through her super fund, $500,000 face value of Lendlease Green Bonds. Directors’ Meetings Board meetings The Board meets as often as necessary to fulfil its role. Directors are required to allocate sufficient time to the Group to perform their responsibilities effectively, including adequate time to prepare for Board meetings. During the financial year ended 30 June 2024, 12 Board meetings were held. Seven face to face meetings were held and five meetings were held virtually. Matters were also dealt with as required by circular resolution. Overview of Board Committees The Board recognises the essential role of Committees in guiding the Company on specific issues. There are five standing Board Committees to assist, advise and make recommendations to the Board on matters falling within their areas of responsibility. Each Committee consists of independent, Non Executive Directors. The Chair of each Committee is not a Chair of other Committees, or Chair of the Board. Each Committee is governed by a formal Charter setting out its objectives, roles and responsibilities, composition, structure, membership requirements and operation. During the reporting period a review of the accompanying Charters and Workplans for each of the Committees was undertaken. The five permanent Committees of the Board are: Audit Committee The Audit Committee assists the Board with its oversight responsibilities in relation to accounting policies and practices, tax matters, treasury reporting, monitoring of internal financial controls, internal and external audit functions and financial reporting of the Group. People and Culture Committee The People and Culture Committee assists the Board with its oversight responsibilities in relation to establishing people management, diversity and inclusion, talent and remuneration/ compensation policies for the Group. Risk Committee The Risk Committee assists the Board with its oversight responsibilities in relation to risk management and internal control systems, risk policies and practices and compliance. The Risk Committee also has the role of considering, and if approved, recommending to the Board for approval major transactions as referred to the Committee by the Global Investment Committee. Sustainability Committee The Sustainability Committee assists the Board in monitoring the decisions and actions of management in achieving Lendlease’s aspiration to be a sustainable organisation. The Committee has oversight of health and safety, ESG matters, the Lendlease Foundation, modern slavery and the Group’s Elevate RAP. Nominations Committee The Nominations Committee has responsibility for Board renewal, composition and Director development and oversees the reviews of Board, Committee and Director performance. In response to the strategy refresh, a review of the committee structures will be undertaken in FY25.