LENDLEASE GROUP — Major Shareholding Notification 2023

Nov 23, 2023

Form 605 Corporations Act Section 671B

Notice of ceasing to be a substantial holder

To: Lendlease Group (“LLC”, Ordinary Fully Paid)

1. Details of substantial shareholder

Citigroup Global Markets Australia Pty Limited (ACN 003 114 832) and each of the related bodies corporate in the Citi group of companies worldwide (for more details please visit www.citigroup.com).

The holder ceased being a substantial holder on 22 November 2023.

The previous notice had been given to the company on 8 November 2023.

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change (ceasing date)	Person whose relevant interest changed and Person’s votes affected	Nature of Relevant Interest	Class and number of securities affected
22 November 2023	Citigroup Global Markets Limited	Citigroup Global Markets Limited holds an increased relevant interest in these shares pursuant to contracts entered into subject to an obligation to return under a securities lending agreementand pursuant to contracts entered into in the ordinary course of business on a stock market of a stock exchange, containing no terms and conditions other than standard terms and conditions. Refer Annexure A.	7,272,143 Ordinary Fully Paid
22 November 2023	Citigroup Global Markets Inc	Citigroup Global Markets Inc holds an increased relevant interest in these shares pursuant to contracts entered into subject to an obligation to return under a securities lending agreement. Refer Annexure A.	26,000 Ordinary Fully Paid

22 November 2023	Citigroup Global Markets Australia Pty Limited	Citigroup Global Markets Australia Pty Limited holds a decreased relevant interest in these shares pursuant to contracts entered into subject to an obligation to return under a securities lending agreementandpursuant to contracts entered into in the ordinary course of business on a stock market of a stock exchange, containing no terms and conditions other than standard terms and conditions. Refer Annexure A.	- 4,576,963 Ordinary Fully Paid
22 November 2023	Citibank, N.A	Citibank, N.A. holds a decreased relevant interest in these shares pursuant to contracts entered into in the ordinary course of business on a stock market of a stock exchange, containing no terms and conditions other than standard terms and conditions.	-32 Ordinary Fully Paid
22 November 2023	Citibank, N.A. Sydney Branch	Citibank, N.A. Sydney Branch holds a decreased relevant interest in these shares acting as Agent Lender and as the holder of securities subject to an obligation to return under a securities lending agreement. Refer Annexure A.	- 11,062,774 Ordinary Fully Paid

3. Changes in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

company or scheme are as follows:
Name and ACN/ARSN(if applicable)	Nature of association
N/A	N/A

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Citigroup Global Markets Limited	Citigroup Centre, Canary Wharf 33 Canada Square London, E14 5LB, United Kingdom
Citigroup Global Markets Inc	388 Greenwich St New York, NY 10013, United States
Citigroup Global Markets Australia Pty Limited	Citigroup Centre 2 Park St Sydney, NSW 2000 Australia
Citibank, N.A.	388 Greenwich St New York, NY 10013, United States

Citibank, N.A. Sydney Branch

Citigroup Centre 2 Park St Sydney, NSW 2000 Australia

Dated this day, 24 November 2023.

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Alyson Sosa Markets & Securities Services Compliance Australia Citigroup Global Markets Australia Pty Limited T: +61 2 8225 4845

Annexure A

This is Annexure A of 2 pages referred to in Form 603 ‘Notice of initial substantial holder’

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Alyson Sosa 24 November 2023

Schedule (Loan)
Type of Agreement	AMSLA / GMSLA / MSLA
Parties to Agreement	Various
Transfer date	Various
Holder of voting rights	Borrower
**Are there any restrictions on voting rights? **	No
Scheduled return date	Unknown
Does the borrower have the right to return **early? **	Yes
If yes, details	Standard AMSLA / GMSLA / MSLA terms
Does the lender have the right to recall **early? **	Yes
Ifyes, details	StandardAMSLA/ GMSLA/MSLAterms
Will the securities be returned on **settlement? **	n/a
Statement	If requested by the company to whom the prescribed form must be given, or if requested by ASIC, Citi will give a copy of the AMSLA / GMSLA/MSLAto the company or ASIC.

Schedule (Agency Lending Agreement)
Type of Agreement	SecuritiesLendingAgencyAgreement (SLAA)
Parties to Agreement	Various
Circumstances under which the agent lender can exercise the authorisations in relation to the securities	Agent Lender can only exercise authority, as agent, in relation to the lender’s securities as defined and agreed in the Securities Lending AgencyAgreement.
Circumstances under which the agent lender is subject to any restrictions in how it can deal with the securities	Lenders will define the restrictions and/or securities lending parameters in the Securities Lending Agency Agreement entered into with the lending agent. Such restrictions/parameters include specific designated accounts, lendable limits, acceptable collateral and/or cash reinvestment guidelines.
Does the agent lender have the right to recall early?	Agent Lenders have the right to early recall on behalf of Lender’s instructions. However, the expectation is the Lender and Borrower would have mutually agreed no sales/recall of the securities during the duration of the loan term. Hence, borrowers are not obligated to return the securities earlyfortermedloans.
If yes, details	Authorised under the standard Securities Lending Agency Agreement terms.
Statement	If requested by the company to whom the prescribed form must be given, or if requested by ASIC, Citi will give a copy of the authorisation agreement to the company or ASIC.