LENDLEASE CORPORATION GLOBAL SUSTAINABILITY FRAMEWORK

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1 LENDLEASE CORPORATION GLOBAL SUSTAINABILITY FRAMEWORK FY15 Environmental Data (Energy, Emissions, Water, Waste & Normalisation Data) and Summary Basis of Preparation

2 Lendlease Corporation FY15 Environmental Data and Summary Basis of Preparation Our 12 Long-term Goals To create the best places that enrich peoples lives DIVERSITY & INCLUSION Put people s well-being first Be powered by clean energy Create more clean water than we use Eliminate waste Respect and value the natural environment Advance diversity and inclusiveness TRAINING, SKILLS & EMPLOYMENT COMMUNITY DEVELOPMENT RESILIENCE & ADAPTATION Recognise, reward and invest in innovation Always consider environmental, social, economic and governance outcomes Invest in people today for their tomorrow Engage with suppliers to ensure we use and buy materials responsibly Create places where people prosper Build resilient and prepared communities FY15 Environmental Data The FY15 Environmental Data (detailed in the table below) has been prepared by Lendlease Corporation Limited Management in accordance with the reporting criteria as described in the following Summary Basis of Preparation. Floor Area (m2) 1 Independent Living Units (#) Man-hours (hrs) Number of Operations (#) Energy (GJ) Emissions (t CO2e) Potable Water (kl) Waste Diverted (tonnes) Waste Disposed (tonnes) Americas 938,413 22,576, ,516 71,308 2,954,107 36,088 25,042 61,131 Defence 896, ,800 50,241 2,805,271 3,895 4,007 7,902 Construction 25,445 22,576, ,960 19, ,092 32,193 21,029 59,223 Development 16, ,756 1,092 2, Australia C&I 30,033 31,534, ,125,740 97, , ,048 72, ,153 Engineering 9,410 8,134, ,730 62, ,951 7,114 10,317 17,431 Building 6,016 22,803, ,379 30, , ,832 61, ,321 Services 6, , ,904 4,681 10, Infrastructure Development Corporate Offices 7, , Australia Property 1,692,507 12,254 1,393, ,748 94,208 1,499,760 8,923 14,086 23,009 Investment Management 1,648, ,043 76,701 1,048,428 8,169 11,747 19,916 Development 15,563 12,254 1,393, ,817 15, , ,245 2,915 Corporate Offices 28, ,888 1,973 10, Europe 221,841 14,756, ,904 10, ,227 37,710 1,797 39,507 Investment Management 111, ,845 3,755 54,376 4, ,733 Construction ,756, ,812 6,338 68,812 32,800 1,748 34,548 Development 9, , , Asia 190,632 7,036, ,069 25, ,386 6,927 9,367 16,294 Investment Management 183, ,253 23, ,454 2,890 5,904 8,793 Construction 7,136 7,036, ,816 2,323 86,932 4,037 3,464 7,501 Lendlease Group 2,973,425 12,254 77,297, ,520, ,165 5,381, , , , Floor area has been adjusted in line with Lendlease s corporate boundary (equity adjusted for assets and operational control for offices) Total Waste (tonnes)

3 Lendlease Corporation FY15 Environmental Data and Summary Basis of Preparation Summary Basis of Preparation This Basis of Preparation summarises the basis of preparation for Lendlease s energy, emissions, water, waste and normalisation data ( Environmental Data ) for the year ended 30 June Reporting Element Corporate Boundaries: Corporate Boundary Operational Control & Equity Interest Environmental Metrics: Energy Description Lendlease reports Environmental Data for all Operations and all activities that are within its corporate boundary. An Operation within Lendlease s corporate boundary is any project/office over which Lendlease has operational control as well as any asset which Lendlease partially or fully owns. Note, that Investment Management assets with an aggregated Equity Interest of less than 10% have been excluded and all assets within the Waste Management sector have also been excluded. The Corporate Boundary is summarised in the table below. Boundary Lendlease as a: Developer Corporate Boundary Operational Control Lendlease as a: Contractor Operational Control Lendlease as a: Tenant Operational Control Lendlease as an: Owner or Fund Manager Equity Interest* * Excludes assets within the Investment Management business where Lendlease s aggregated equity interests are less than 10% Lendlease as an: Asset Manager Equity Interest* Operational Control is when Lendlease has the authority to introduce/implement operating, health/safety and environmental policies of an Operation (i.e. when Lendlease has the authority to directly influence the operation of an Operation). Equity Interest represents Lendlease s share in the equity of an asset. The equity share represents Lendlease s economic interests in an asset; which is the extent of rights that Lendlease has to the risks and rewards flowing from that asset. Typically, this is aligned to Lendlease s percentage ownership in the asset. Lendlease has included all assets within its Corporate Boundary (whether directly owned by Lendlease or owned through a Lendlease fund), except for Investment Management assets where the aggregated Equity Interests are less than 10% as well as all assets within the Waste Management sector. Lendlease reports stationary and non-stationary energy used by all Operations within its Corporate Boundary. Lendlease s total energy use consists of: Electricity Use: Grid electricity (delivered to an Operation from the public electricity network) and use of onsite renewable electricity generation (onsite electricity generation from biomass, wind, solar thermal and solar photovoltaic (PV) systems) Gaseous Fuels: Combustion of natural gas distributed in a pipeline, town gas, unprocessed natural gas and compressed natural gas Liquid Fuels: Combustion of diesel, petrol/gasoline, liquefied petroleum gas (LPG), E10*, ethanol and biodiesel Other Energy: Steam use (when not generated onsite). * Any reported E10 is assumed to consist of 10% ethanol and 90% petrol/gasoline. Note, all energy from activities which are within the Corporate Boundary for each project/asset/office is reported by each Operation. This means that all subcontractor use of fuels on Lendlease Operations is reported by Lendlease. Reporting Element Emissions Water Waste Normalisation Data (Denominators) Description Greenhouse gas (GHG) emissions are reported for all activities within Lendlease s Corporate Boundary. This includes all six GHGs listed in the Kyoto Protocol. Note, refrigerant emissions are not reported as historic reporting of these emissions has demonstrated that these emissions are not material to Lendlease s overall footprint. Lendlease reports Scope 1 (direct) and Scope 2 (indirect) emissions for all Operations within its Corporate Boundary. Published default emissions factors (see below) are used when calculating Lendlease s emission footprint, including: Grid Electricity Use: Default emission factors are used for grid electricity use (see below) Renewable Electricity Use: An assumed emission factor of zero is used for all renewable electricity generated and used onsite Gaseous/Liquid Fuel Combustion: Default emission factors are used for the combustion of gaseous and liquid fuels Steam Emissions: Default emission factors are used (based on the underlying fuel source used to generate the steam). Lendlease uses published default emission factors adopting the following emission calculation hierarchy: Mandatory National Emission Reporting Schemes: This includes the National Greenhouse and Energy Reporting (NGER) Scheme in Australia and the Carbon Reduction Commitment (CRC) Energy Efficiency Scheme in the United Kingdom; and Voluntary Emissions Reporting Schemes: Emissions & Generation Resource Integrated Database (egrid) for grid electricity emissions in the United States and GHG Protocol publications for all other emission sources in the United States. The GHG Protocol publications for all emission sources for Operations located in all other countries. Lendlease reports potable water used by all Operations within its Corporate Boundary. Potable water is defined as drinking water quality with total dissolved solids less than 1,500 mg/l, ph 5-9 and individual dissolved constitutes (metals, anions etc.) at concentrations suitable for drinking water based on local/regional/national guidelines. Lendlease reports waste generated and waste diverted by all Operations in its Corporate Boundary. The waste metrics are defined as: Waste Disposed: Sum of waste to landfill and waste incinerated (including hazardous waste and soils) Waste Diverted: Sum of all waste recycled, waste re-used and any waste used to generate energy (excluding soils). Total Waste: Sum of Waste Disposed and Waste Diverted Waste Diverted Rate: Waste Diverted divided by Total Waste. A group-wide waste density rate is applied in Lendlease s sustainability data management system. Lendlease uses the following normalisation data when calculating its intensity ratios: Man-Hours (hours): Lendlease employee and subcontractor working hours for all projects/businesses within the Corporate Boundary. Floor Area (m2): Floor area for all assets and offices (excluding Retirement Living assets) Independent Living Units (ILUs): The number of ILUs for all Retirement Living assets. Data Capture and Reporting: Data Sources The energy, water and waste data captured in Lendlease s sustainability data management system must be classified as one of the following sources: Invoiced/PO: Data is evidenced by invoices or purchase orders Measured/Meter Readings: Data is evidenced by meter readings or other measurement devices Survey/Contractor Report: Data is evidenced by contractor report or surveys Estimated: Data is estimated by Region/Business/Operation based on best available information including prior/subsequent period information, similar information from comparable Operations with the same sector, or other industry guidance Calculated: Data is calculated by Region/Business/Operation No Usage: Can be used when there is no consumption during the month Governance and Control Processes: Environmental Data Sign-off External Assurance Lendlease s sign-off processes for its Environmental Data involves a number of review tiers, including sign-off by the Regional CEO / Business Managing Director prior to the sign-off by the Group Head of Sustainability. KPMG has performed limited assurance over Lendlease s energy, emissions, water, waste and normalisation data for the year ended 30 June 2015 (Environmental Data). The scope of the assurance is described in the KPMG assurance report as attached to this Statement.

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