LENDLEASE GROUP — Capital/Financing Update 2009

May 12, 2009

Stock Exchange Announcement

RNA selects Lend Lease as preferred partner for the major regeneration of the Queensland showgrounds precinct in Brisbane

13 May 2009

Lend Lease Corporation Limited (“Lend Lease”) today announced that its subsidiary, Lend Lease Development Pty Ltd (“Lend Lease Development”) has been selected by the Royal National Agricultural and Industrial Association of Queensland (“RNA”) as preferred respondent to develop the EkkA Showgrounds. The project is to be staged over the next 15 years and has a projected value of approximately A$2.5 billion.

Working with the RNA, Lend Lease will rebuild the RNA amenities into exhibition and showground facilities for the Brisbane EkkA, Queensland’s largest annual event, while also developing part of the 22 hectares for an inner-city mixed-use development.

The development is one of Brisbane’s largest urban renewal projects and will include a mix of residential, commercial, retail, and cultural facilities. The development will be delivered via Lend Lease’s integrated model led by Lend Lease Development with Bovis Lend Lease responsible for the project management, design management and construction.

David Hutton, COO of Lend Lease APAC, said Lend Lease is honoured to be working with the RNA and the Queensland State Government to achieve the full potential of this historic and iconic site.

“The site represents a major opportunity for the RNA to make the EkkA event and its contribution to the Queensland economy even more spectacular. The current venue which is closed for a lot of the year will become a vibrant new urban community within inner-city Brisbane for both residents and visitors to enjoy.

“The development will also provide new and improved pedestrian and bicycle connections between Bowen Hills and Fortitude Valley and the Royal Brisbane Hospital,” he said.

The development is expected to generate significant private investment into the Queensland economy, attract new business to the region and generate new employment opportunities. Importantly it will also ensure the long term success of the EkkA, the RNA, and its many annual events, which are so important to the people and culture of Queensland.

The announcement as preferred respondent means Lend Lease will now work with the RNA exclusively in order to finalise terms and conclude a Project Development Agreement over the coming months which will see Lend Lease as the Master Developer of the site for the delivery of the buildings and RNA facilities.

ENDS

For more information contact: Sally Cameron Lend Lease Corporation Tel: 02 9236 6464

Lend Lease Corporation Limited Telephone +612 9236 6111 ABN 32 000 226 228 Facsimile +612 9252 21921 Level 4, 30 The Bond www.lendlease.com 30 Hickson Road Millers Point NSW 2000 Australia

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