Lendlease Annual Report 2022

Governance 95 Non Executive Director Fee Policy Non Executive Directors’ fees The maximum aggregate remuneration payable to Non Executive Directors is $3.5 million per year, as approved at the 2015 Annual General Meeting. Board and Committee Fees Non Executive Directors receive a Board fee and fees for chairing or participating on Board committees: A$’000 Board Nominations Committee People & Culture Committee Risk Committee Audit Committee Sustainability Committee Chair Fee 640 1 36 48 48 48 48 Member Fee 160 Nil 36 Nil 36 36 1. The Chairman does not receive extra fees for participating on committees Board and committee fees are paid as cash. Superannuation contributions are paid in addition to the Board and committee fees outlined above in accordance with superannuation legislation and are capped at the Maximum Superannuation Contribution Base. Non Executive Directors are not entitled to retirement benefits other than superannuation. There were no increases to Non Executive Director fees during FY22. Travel Fees Board meetings are scheduled in Australia and in each of the regions where Lendlease operates. As an international company, the Board program is formulated to reflect the geographic spread of the Lendlease businesses. Generally, the program runs over three to five days and includes a number of activities outside the formal meeting. These include business briefings, presentations from external sources, project site visits, client meetings, and networking events with employees and key stakeholders. Where deeper project reviews are required, the program may take up to five days. The program is an important element of the Board’s activities to enable the Non Executive Directors to obtain the required deep understanding of operations across the Group. Where significant additional time has been spent travelling to fulfil the requirements of the program, fees are paid to compensate Non Executive Directors for the extra time commitment: A$ Fee (each way) Travel less than 4 hours Nil Travel between 4 and 10 hours 2,800 Travel over 10 hours 6,000