Lendlease Annual Report 2024

114 Lendlease Annual Report 2024 Notes to Consolidated Financial Statements continued 5. Share of Profit of Equity Accounted Investments Accounting Policies Investments in associates and joint ventures are accounted for using the equity method. The share of profit recognised under the equity method is the Group’s share of the investment’s profit or loss based on ownership interest held. Associates (including partnerships) are entities in which the Group, as a result of its voting rights, has significant influence, but not control or joint control, over the financial and operating policies. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. For associates, this is from the date that significant influence commences until the date that significant influence ceases, and for joint ventures, this is from the date joint control commences until the date joint control ceases. June 2024 June 2023 Note $m $m Associates 1,2 Share of profit 12.a 5 11 Joint Ventures 1,2 Share of profit 12.b 134 17 Total share of profit of equity accounted investments 139 28 1. Reflects the contribution to the Group’s profit, and is after tax paid by the Equity accounted investment vehicles themselves, where relevant. However, for various Equity accounted investments, the share of tax is paid by the Group and is included in the Group’s current tax expense. 2. Share of profit from Associates and Joint Ventures includes $(18) million loss (June 2023: $(10) million loss) and $(136) million loss (June 2023: $(124) million loss), respectively, in revaluation losses recognised in the Investments segment adjustment in Note 1 ‘Segment Reporting’. Share of profit from Associates and Joint Ventures include $nil million (June 2023: $nil million) and $(4) million loss (June 2023 $87 million gain), respectively, in revaluation losses and gains in the Development segment. 6. Other Income Accounting Policies Net gains or losses on sale/transfer of investments, including consolidated entities and Equity Accounted Investments are recognised when an unconditional contract is in place. Net gains or losses on fair value remeasurements are recognised in accordance with the policies stated in Note 13 ‘Other Financial Assets’ . June 2024 June 2023 $m $m Net gain on sale/transfer of investments Consolidated entities - 30 Asset management contract sale - 192 Equity accounted investments - 13 Investment properties - 1 Other assets and liabilities - 26 Total net gain on sale/transfer of investments - 262 Net gain on fair value measurement Investment properties - 13 Total net gain on fair value measurement - 13 Other 38 24 Total other income 38 299 Section A. Performance continued

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