Lendlease Annual Report 2022

24 Lendlease Annual Report 2022 Development, at scale We are on track to achieve our more than $8b completion target from FY24, almost double our historical average. Our confidence is supported by: • $117b development pipeline • Planning milestones well progressed • Capability to deliver at scale • Market depth to absorb product • Investment partners and capability to support funding $117b pipeline underpins target The origins of achieving development at scale emanated a little more than a decade ago with a very focused strategy of expanding our integrated business model to targeted international gateway cities. Since formulating this strategy, our urban pipeline has grown almost tenfold, from $11b in June 2009 to more than $100b in June 2022. Our Communities pipeline in Australia, which is broadly stable over the same period, currently stands at $15.4b. Gateway cities often have large sites ripe for regeneration and infill sites that stitch well-considered density into the city fabric. Large multi-stage sites that provide the opportunity to craft mixed use precincts is where the breadth of our skills are applied to greatest effect. Our partnership approach with a demonstrated value proposition has been recognised by being awarded and completing many extraordinary projects. A global platform with locally based real estate expertise has few direct competitors and is difficult to replicate. Our current portfolio of 21 major urban projects spans nine gateway cities. Placemaking a key differentiator Through the places we design, build and curate, we aim to create destinations where people want to be. Improved liveability, environmental sustainability, inclusion, affordability, connectedness, wellbeing and a sense of community are important elements we incorporate to create 'place'. Placemaking presents a unique opportunity to generate lasting and positive value for a city and its communities through the way people connect, learn and live. Great places are the product of both physical and experiential attributes which are shaped, delivered and maintained through ongoing curation. Our completed projects, along with the current pipeline, provide a suite of proof points of our placemaking credentials and our contribution to urban renewal: Waterfront development • Barangaroo South, Sydney • Lakeshore East, Chicago • Clippership Wharf, Boston • 1 Java Street, New York Transport orientated districts • Paya Lebar Quarter, Singapore • International Quarter London • Victoria Cross Over Station Development, Sydney • Euston Station, London Innovation districts • Melbourne Connect • Milan Innovation District >$8b harvesting the immense potential of our secured pipeline provides ample opportunity to sustain annual completions Top: Boston: Clippership Wharf Opposite: Singapore: Paya Lebar Quarter; Melbourne: Melbourne Connect