LENDLEASE GROUP — Capital/Financing Update 2012

Apr 15, 2012

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ASX Announcement

Lend Lease reaches financial close on US Army lodging privatisation program

16 April 2012

Lend Lease today announced that it has reached financial close on Group B of the US Department of the Army’s Privatisation of Army Lodging (PAL) program and secured US$275 million (circa A$265 million) in project debt.

Lend Lease is the developer for the PAL program, part of the US Army’s initiative to privatise hotel facilities on Army installations nationwide.

Lend Lease Group Chief Executive Officer and Managing Director, Mr Steve McCann, said the collaboration with the US Army demonstrates Lend Lease’s long-term commitment to privatised partnerships like PAL.

“Implementing this phase of the PAL program allows Lend Lease to continue leading the efforts in what is the US military’s only lodging privatisation program.”

Lend Lease is a market leader in the US military housing privatisation sector. With more than 40,000 homes, 8,200 hotel rooms and 192 apartments, Lend Lease has created masterplanned, mixed-use communities throughout the United States.

ENDS

For further information, please contact:

Investor Relations:

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

Corporate Affairs:

Iwona Polski Group Media & External Communications Manager 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

1

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