ASX Announcement Lend Lease presentation at Macquarie Australia - PDF document

ASX Announcement Lend Lease presentation at Macquarie Australia Conference in Sydney 8 May 2014 Attached is the presentation given by Lend Lease Chief Executive Officer, Property Australia, Tarun Gupta at today’s Macquarie Australia Conference being held in Sydney. ENDS For further information, please contact: Investor Relations: Corporate Affairs: Suzanne Evans Vivienne Bower Head of Investor Relations Group Head of Corporate Affairs and Investor Relations Tel: 02 9236 6464 Tel: 02 9277 2174 Mob: 0448 129 022 Mob: 0431 487 025 Lend Lease Corporation Limited ABN 32 000 226 228 and Lend Lease Responsible Entity Limited ABN 72 122 883 185 AFS Licence 308983 as responsible entity for Lend Lease Trust ABN 39 944 184 773 ARSN 128 052 595 Level 4, 30 The Bond Telephone +61 2 9236 6111 30 Hickson Road Facsimile +61 2 9252 2192 Millers Point NSW 2000 www.lendlease.com Australia

AUSTRALIAN PROPERTY BUSINESS Tarun Gupta Chief Executive Officer, Property 1 Disclaimer: Artist impression only, as at May 2014

Important Notice This presentation has been prepared in good faith, but no representation or warranty, express or implied, is made as to the accuracy, adequacy or reliability of any statements, estimates, opinions or other information contained in the presentation (any of which may change without notice). To the maximum extent permitted by law, Lend Lease Corporation Limited, its controlled entities including Lend Lease Trust (together referred to as the ‘Group’) and their respective directors, officers, employees and agents disclaim all liability and responsibility (including without limitation any liability arising from fault or negligence) for any direct or indirect loss or damage which may be suffered through use or reliance on anything contained in or omitted from this presentation. Each recipient should consult with, and rely solely upon, their own legal, tax, business and/or financial advisors in connection with any decision made in relation to the information contained in this presentation. Lend Lease Corporation Limited does not undertake any obligation to provide recipients with further information to update this presentation or to correct any inaccuracies. Prospective financial information has been based on current expectations about future events and is, however, subject to risks, uncertainties and assumptions that could cause actual results to differ materially from the expectations described in such prospective financial information. The Group’s statutory results are prepared in accordance with International Financial Reporting Standards (IFRS). This presentation also includes certain non-IFRS measures in presenting the Group’s results. Certain non-IFRS financial measures, have not been subject to audit or review. A reference to 2014 refers to the 2014 financial year unless otherwise stated. All figures are in AUD unless otherwise stated. 2

Contents  Safety commitment  Property Australia portfolio  Urban regeneration  Barangaroo update  Residential – apartments; communities and retirement  Investment Management  Delivering on our strategy  Q&A 3 Disclaimer: Artist impression only, as at May 2014

SAFETY COMMITMENT 4

Property Australia portfolio Quality diversified portfolio leveraging end to end integrated model Urban Investment Communities Retirement Regeneration Management  70 villages  28 projects  $10.6 billion  7 projects across across five FUM  $17.4 billion Australia/ states  $5.8 billion Property pipeline NZ  57,120 lots retail AUM  Mixed use with  12,705 units Australia  Lots  Strong third large  Targeting entitled/ party capital residential efficient production relationships apartment unit cost base ready backlog Supporting Trend Ageing Funds Population Urbanisation Population Growth Growth  Large project   Strong operating  Large land Internal asset Track record Competitive advantage / pipeline capability bank and creation pipeline  Integrated project  Scale  Integrated model project delivery capability  Integrated model  Scale   Scale Scale 5 As at December 2013

Urban regeneration - focus on execution End Value 1 Project Progress  100% pre sales for first residential apartments  Construction of first two commercial towers progressing well Barangaroo South, Sydney A$6.0 billion  T1 (third commercial tower) launched  Financial close reached for $1.1 billion PPP component in December 2013 Darling Harbour Live  Site demolition well underway A$1.5 billion  PDA financial close anticipated mid 2014 – residential, hotel, student (formerly SICEEP) housing being progressed  Strong pre sales for residential apartment project – Concavo Victoria Harbour, Melbourne A$4.5 billion  888 Collins Street launch  Development agreement secured for redevelopment of site adjacent to Batman’s Hill, Victoria A$1.5 billion Victoria Harbour  Planning for C1 (16,413sqm) and C2 (15,036sqm) submitted  162 apartments scheduled for completion in 2H14; ~40 apartments in Richmond, Melbourne A$0.4 billion Stage 1 completed during 1H14  Construction underway on five apartment towers at The Green (356 RNA Showgrounds, Brisbane A$2.5 billion apartments) and K1 at Kings Gate commercial tower (16,595sqm)  Financial close expected end of calendar year 2014 Waterbank, Perth A$1.0 billion Total $17.4 billion 1. Reflects 100% of the project end development value 6

Barangaroo – continued progress Commercial Commercial Tower 1  T1 launched – expected to complete FY17  Pre-commitments secured: 77% of T2/T3 and  Large adaptable floor 33% of T1 plates – on average 2,300 sqm  Blue chip tenants – PwC, HSBC, KPMG,  Westpac, Lend Lease, Gilbert & Tobin Vertical villages located in the mid and  Well progressed with construction of first two high rises with the towers flexibility for vertical Residential connections  Anadara and Alexander 100% presold –  Panoramic views to completion and settlement in FY16 Harbour Bridge Retail  101,000 sqm  Stage 1A – circa 80 tenancies, including 50 food commercial space – and beverage tenancies largest premium Hotel office building in  Exclusivity agreement with Crown Australia  Capital partners 6 Star Green Star  Introduced new international capital partner APG to the precinct in May 2014 7

Residential – apartments Strong market fundamentals Projects Under Pre- FY14 FY15 FY16 Construction sold  Low interest rates, strong demand from  Barangaroo Stage 1 100% offshore and investors and trend to inner city 2 towers (159 units) living  RNA The Green 85% Significant growth in backlog to 9,300 units 5 towers (356 units)  Victoria Harbour 91%  Circa 55% of urban regeneration project Concavo (238 units) revenue is apartment product 1  Studio Nine 89%  Richmond Stage 1 Sales volumes increasing from circa 300 units (203 units) p.a. to circa 1,000 units p.a. going forward  Progressing delivery of circa 30 apartment buildings 2 over coming years  Well positioned to support demographic shift to inner city living 1. As at 31 December 2013 8 2. Subject to planning approvals

Residential - Communities WA 12% Strong market fundamentals Backlog by geography  WA 3% Low interest rates, strong population SA 5% growth and favourable affordability 28 projects, all with approved residential VIC 17% zoning  Strong sales across most markets – NSW, ACT & NSW WA and QLD strong performers 17% QLD 58%  Volumes continued to strengthen Alkimos, WA 9

Residential - Retirement Units by geography WA 12% Solid market fundamentals NZ 8%  Residential market cyclical upswing, QLD 32% WA 11% improving residential valuations and SA 3% sustained demographic shift Significant operational efficiencies from scale portfolio  Annual cost per unit across the portfolio ACT & NSW VIC 26% 20% has reduced significantly since acquisition in 2010  Continue to target further expense synergies across the portfolio Woodlands Park, VIC 10

Investment Management Strong capital markets and scarcity of assets  Growth in funds under management (FUM) to $10.6 billion  ~16% p.a. average growth in FUM over past 5 years 1  ~90 institutional investors in the Australian platform (~65 domestic and ~25 offshore) Lakeside Joondalup, WA 9 major Lend Lease projects financed by third party capital in the last 5 years including:  Darling Quarter, Caneland Central, International Towers 2 & 3 Sydney Retail assets under management of $5.8 billion Craigieburn Central, VIC Darling Quarter, NSW 1. Excludes Primelife investment which was consolidated from 2010 11