• Completed sale of interests in TRX to Valiram Family Office
• Received ~$400 m in capital recycling proceeds
• Recognized total profit of ~ $50 m in FY26

Lendlease has completed the sale of interests in TRX to the Valiram Family Office, a Malaysian investor. The transaction resulted in Lendlease receiving approximately $400 million in capital recycling proceeds. Specifically, Lendlease sold a 40% interest in The Exchange TRX retail mall, retaining a 20% interest, and its full 60% interest in the TRX office tower. Additionally, Lendlease sold a 49% interest in the TRX management company, retaining a 51% interest. The transaction was fully settled in cash on 1 July 2026. A total profit of approximately $50 million will be recognized in FY26, predominantly relating to the sale of management rights. Lendlease's remaining 20% interest in The Exchange TRX retail mall has moved into the Investments segment, effective 1 July 2026. Lendlease retains a 60% interest in the remaining TRX residential land plots and TRX hotel.

Recognized total profit of ~ $50 m in FY26

Lendlease plans to continue optimizing its portfolio and managing assets effectively.