LENDLEASE GROUP — Capital/Financing Update 2011

Dec 20, 2011

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ASX Announcement

Lend Lease executes contract on Regional Rail Package E

21 December 2011

Lend Lease announced today that it has executed a contract with the Victorian Government for Work Package E of the Regional Rail Link Project. The contract value is circa A$505 million delivered as a 50/50 joint venture by Baulderstone, part of Lend Lease’s Australian infrastructure business, and Leighton Contractors.

Work Package E involves the design and construction of approximately 25 kilometres of Class 1 broad gauge railway track including civil, structural and station works between Deer Park and West Werribee Junction.

Lend Lease Group Chief Executive Officer and Managing Director, Mr Steve McCann, said the contract reflects Lend Lease’s capability to deliver major infrastructure projects.

“We are very pleased to be working with the Victorian Government to deliver this critical piece of infrastructure that will support Melbourne’s continued growth,” said Mr McCann.

Construction will commence in January 2012, and is scheduled for completion in 2014.

ENDS

For further information, please contact:

Corporate Affairs: Iwona Polski

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

Lend Lease Corporation Limited ABN 32 000 226 228 and 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

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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