Lendlease Annual Report 2024

92 Lendlease Annual Report 2024 Directors’ Report The Directors’ Report for the financial year ended 30 June 2024 has been prepared in accordance with the requirements of the Corporations Act 2001 . The information below forms part of the Directors’ Report: • Principal activities on page 14 • Operating and Financial Review on pages 4 to 55 incorporating the Performance and Outlook on pages 48 to 55 • Biographical information for the Directors and Company Secretary on pages 58 to 61 • Officers who were previously partners of the audit firm on page 58 and 59 • Directors’ interests in capital on page 66 • Board and committee meetings and attendance on pages 66 and 67 • Remuneration Report on pages 68 to 90 • Lead Auditor’s Independence Declaration on page 94 a. Dividends/Distributions The 2023 final dividend/distribution of $76 million (comprised of a dividend component fully franked of 4.7 cents per share to be paid by the Company and an unfranked trust distribution of 6.4 cents per unit to be paid by Lendlease Trust) referred to in the Directors’ Report dated 14 August 2023 was paid on 13 September 2023. Details of dividends/distributions in respect of the current year are as follows: $m Interim distribution of 6.5 cents per security (unfranked) paid on 13 March 2024 1 45 Final dividends/distributions of 9.5 cents per security declared by Directors to be payable on 18 September 2024 2 66 Total dividends/distributions 111 1. Comprised of an unfranked trust distribution of 6.5 cents per unit paid by Lendlease Trust. 2. Comprised of a dividend component fully franked of 3.2 cents per share to be paid by the Company and an unfranked trust distribution of 6.3 cents per unit to be paid by Lendlease Trust. b. Significant Changes in State of Affairs There have been no significant changes in the Group’s state of affairs. c. Events Subsequent to Balance Date In July 2024 Lendlease completed the sale of its life sciences interests in Asia to a 50/50 joint venture with Warburg Pincus. The transaction is expected to contribute approximately $80 million to FY25 OPAT. There were no other material events subsequent to the end of the financial reporting period. d. Security Options No security options were issued during the year by the Company or any of its controlled entities, and there are no such options on issue. e. Indemnification and Insurance of Directors and Officers Rule 12 of the Company’s Constitution provides for indemnification in favour of each of the Directors named on pages 58 to 61 of this report and the officers of the Company or of wholly owned subsidiaries or related entities of the Company (Officers) to the extent permitted by the Corporations Act 2001 . Rule 12 does not indemnify a Director, Company Secretary or Officer for any liability involving a lack of good faith. In conformity with Rule 12 of the Company’s Constitution, the Company has entered into Deeds of Indemnity, Insurance and Access with each of the Directors named on pages 58 to 61 of this report and for officers of the Company and Directors of related entities of the Company. The indemnities operate to the full extent permitted by law and are not subject to a monetary limit. The Company is not aware of any liability having arisen, and no claims have been made during or since the financial year under the Deeds of Indemnity, Insurance and Access. For unrelated entities in which the Group has an interest, Deeds of Indemnity may be entered into between Lendlease Corporation Limited and the Director or Officer. Since the date of the last report, the Company has not entered into any separate Deeds of Indemnity with a Director or Officer of an unrelated entity. No indemnity has been granted to an auditor of the Company in their capacity as auditor of the Company. In accordance with the Corporations Act 2001 , Rule 12 of the Constitution also permits the Company to purchase and maintain insurance or pay or agree to pay a premium for insurance for Officers against any liability incurred as an Officer of the Company or of a related body corporate. This may include a liability for reasonable costs and expenses incurred in defending proceedings, whether civil or criminal, regardless of their outcome. Due to confidentiality obligations and undertakings of the policy, no further details in respect of the premium or policy can be disclosed.