LENDLEASE GROUP — Capital/Financing Update 2011

Oct 3, 2011

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ASX Announcement

Lend Lease sells additional PPP assets to UK Infrastructure Fund

4 October 2011

Lend Lease has today completed the sale of equity in a further three operational UK healthcare and education Public Private Partnership (PPP) assets to the Lend Lease UK Infrastructure Fund (the Fund) for a consideration of £30 million (circa A$47 million).

The Fund was launched in December 2010 with £220 million in committed capital available to invest in social infrastructure assets over the next five years. On launch, the Fund purchased established healthcare, education and accommodation PPP assets from the Group and had committed capital to fund the acquisition of future assets being delivered by the Group. Lend Lease has a minority co-investment in the Fund alongside the majority investor, Dutch pension fund service provider, PGGM.

Lend Lease Group Chief Executive Officer and Managing Director, Steve McCann, said the delivery of the Fund mandate is in line with the Group’s strategy to recycle capital and another example of the Group’s integrated model.

“The transaction enables Lend Lease to recycle further capital in the UK as well as remain actively involved through the provision to the Fund of asset, facilities management and fund management services,”said Mr McCann.

ENDS

For further information, please contact:

Investor Relations: Sally Cameron Group Executive - Investor Relations Tel:02 9236 6464

Corporate Affairs: Jocelyn Harvey Group Head of Corporate Affairs Tel: 02 9277 2683

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

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