LENDLEASE GROUP — Capital/Financing Update 2016

May 26, 2016

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Lendlease completes issue of 10-year USD$400 million of senior unsecured notes

27 May 2016

Lendlease today announced the completion of its issue of USD$400 million of senior unsecured notes, maturing in May 2026. The notes were issued via Lendlease’s recently established Euro Medium Term Note Programme.

The fixed rate notes were issued at US Treasuries plus 280 basis points, paying a coupon of 4.5 per cent per annum payable semi-annually.

The proceeds from the issue will be used for general corporate purposes including repayment of drawings under existing revolving bank facilities.

Lendlease Group Chief Financial Officer, Tarun Gupta, said this issue illustrated Lendlease’s strong credit profile and provides longer term capacity and flexibility to fund Lendlease’s pipeline.

“Lendlease aims to achieve an effective mix of funding by maintaining an appropriate balance between bank facilities and global capital markets. Issuing these notes diversifies our sources of funding and extends our average debt maturity for the Group to 5.4 years following this issue[1] ,” said Mr Gupta.

ENDS

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investors: Media: Suzanne Evans Nadeena Whitby Tel: 02 9236 6464 Tel: 02 9236 6865 Mob: 0407 165 254 Mob: 0467 773 032

1 Pro-forma 31 December 2015 average debt maturity, adjusted for the refinancing of Lendlease’s sterling club bank facility and 10-year US dollar senior unsecured notes

Lendlease Corporation Limited ABN 32 000 226 228 and Lendlease Responsible Entity Limited ABN 72 122 883 185 AFS Licence 308983 As responsible entity for Lendlease 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 lendlease.com