Lendlease Group (LLC) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land custodians and confirmation of quorum.

• Hybrid format enabled both in-person and online participation, with voting and Q&A facilitated digitally.

• Board members, senior leadership, and auditors were introduced, and meeting procedures explained.

Financial performance review

• FY 2025 saw a return to statutory profit after tax of AUD 225 million and operating profit of AUD 386 million.

• Over AUD 2.5 billion in capital recycling initiatives were completed or announced, improving the balance sheet.

• Full-year distribution and dividend payment of AUD 0.23 per security declared, with a 41% payout ratio.

• Cost savings of AUD 141 million per annum achieved, exceeding targets.

Board and executive committee updates

• Board renewal underway, reducing to seven non-executive directors by next AGM, with a mix of Australian and international members.

• David Craig retired after nine years; Lianne Buck joined as a director and will chair the Audit Committee.

• Board and management focused on high-performance culture and strong governance.