• Lendlease completes sale of UK Construction business to Atlas Holdings
• Introduces two new Japanese investment partners for 21 Moorfields asset in London
• Continues focus on simplifying the Group, growing core operations and increasing securityholder returns

Lendlease has announced the completion of the sale of its UK Construction business to Atlas Holdings, following satisfaction of conditions precedent. The sale completes Lendlease's exit from international construction and follows the sale of its US and Asian construction operations. The construction exit comes 10 months after the updated strategy to refocus the Group on growing its Australian operations and international investment management platform. In further progress on the strategy, Lendlease has introduced two new Japanese investment partners, Sotetsu Urban Creates and Yasuda Real Estate, who have jointly acquired a 20% interest from Lendlease in 21 Moorfields, a new premium-grade, sustainable office asset in London. Lendlease has retained a 5% interest and will remain as the investment and asset manager. The introduction of new global investors follows $1.5 billion of recent investment mandate wins across Australian office and Asian real estate, and the establishment of a new Life Sciences joint venture, Vita Partners, that has grown to approximately $2 billion in funds under management within its first year of operation. Lendlease remains focused on improving securityholder returns through further simplification of the Group, accelerating the release of and returning capital, and growing its core operations to support future earnings.

Lendlease has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

Lendlease remains focused on improving securityholder returns through further simplification of the Group, accelerating the release of and returning capital, and growing its core operations to support future earnings.