LENDLEASE GROUP — Board/Management Information 2011

Mar 8, 2011

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ASX Announcement

Lend Lease announces senior management appointments

9 March 2011

Lend Lease today announced a number of senior management appointments to support the delivery of the Group’s strategy in key growth markets.

Eng-Peng Ooi, regional Chief Executive Officer (CEO) of the Asian business, has decided to leave Lend Lease after 30 years with the Group. Rod Leaver, currently CEO of the Australian business, has been appointed CEO for Asia based in Singapore, effective 1 April. Mr Leaver has broad expertise across the property sector and will drive the growth of the integrated model in this key market, particularly the investment management platform.

Mark Menhinnitt, previously Lend Lease’s Group Head of Infrastructure Development, will be the new CEO for the Australian business, effective 1 April. In his 23 years with Lend Lease, Mr Menhinnitt has held leadership roles across a number of Lend Lease’s lines of business including Global CEO of the project management & construction business, heading the public partnerships business in the Americas, and leading the Australian residential development business.

In addition to the above CEO appointments, a number of other senior management appointments have been made.

Andrew Wilson, formerly CEO of Laing O’Rourke Australia, is joining Lend Lease as Managing Director, Development, for the A$6 billion Barangaroo South urban regeneration project in Sydney. Mr Wilson will commence in mid-May 2011.

Murray Coleman, previously Group Head of Project Management & Construction, has been appointed Managing Director for the Australian project management & construction business with Group responsibility for Environment, Health & Safety and Risk & Insurance. Tony Costantino, formerly Managing Director of the Australian project management & construction business, is now Executive Director of this business with key responsibility for client relationships and business development.

Michael Connolly will join Lend Lease as Head of Integration to assist in the integration of the Valemus businesses. Mr Connolly has 20 years experience in the engineering and construction industry in Australia and overseas. Joining from the Leighton Group and commencing in May 2011, Mr Connolly will report to Scott Charlton, Lend Lease Group Director of Operations.

In addition, Lend Lease has been advised, under the terms of the conditional sale of the Valemus business, that Mark Elliott currently Managing Director of Conneq, will be leaving at the end of March. He will be replaced by David Marchant who was previously CEO of Australian Rail and Track Corporation (ARTC) and this appointment has been endorsed by Lend Lease.

Lend Lease Corporation Limited ABN 32 000 226 228 and

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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 30 Hickson Road Millers Point NSW 2000 Australia

Telephone +61 2 9236 6111 Facsimile +61 2 9252 2192 www.lendlease.com

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Lend Lease Group CEO and Managing Director, Steve McCann said the appointments demonstrate the depth of Lend Lease’s senior management team and further enhance Lend Lease’s strong leadership capability in line with its overall strategic direction.

“Eng has played a key role in strengthening our operating platform in Asia in recent years and I would like to thank him for his outstanding 30 year contribution to Lend Lease. We wish him every success in his future endeavours.”

“Following our strong half year results announced last month, these senior management changes ensure we are positioned for further growth in our core regional markets across our diversified portfolio of businesses,” said Mr McCann.

ENDS

For further information, please contact:

Investor Relations: Corporate Affairs: Sally Cameron Iwona Polski Group Executive - Investor Relations Media & External Communications Manager Tel: 02 9236 6464 Tel: 02 9237 5034

Lend Lease Corporation Limited ABN 32 000 226 228 and

2

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 30 Hickson Road Millers Point NSW 2000 Australia

Telephone +61 2 9236 6111 Facsimile +61 2 9252 2192 www.lendlease.com