Lend Lease Corporation Limited Telephone +612 9236 6111 ABN 32 000 226 228 Facsimile +612 9252 2192 Level 4, 30 The Bond www.lendlease.com 30 Hickson Road Millers Point NSW 2000 Australia

20 October 2009 The Manager Companies Section ASX Limited

The Manager Companies Section New Zealand Exchange Limited

Pages: Fifty eight (58) pages Lend Lease Melbourne Investor Day – Presentations Attached are copies of the presentations to be made at the Lend Lease Investor Day in Melbourne today. ENDS For more information contact: Sally Cameron Lend Lease Corporation Tel: 02 9236 6464

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Lend Lease Melbourne Investor Day - 20 October 2009

Overview

Brad SollerChief Financial Officer

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Agenda

Lend LeaseMelbourne Investor

Day

8.45am The Gauge - WelcomeBrad Soller - Chief Financial OfficerDavid Hutton - Global Head of DevelopmentTony Costantino - CEO Bovis Lend Lease AustraliaMaria Atkinson - Head of SustainabilityPaul Yousseph - Project Director, ANZToni Blume - Head of Project Management &

Design, Myer

10.00am Site Visit of Victoria Harbour Precinct – ANZ, Myer

12.00pm Site Visit to EdgewaterJill Lim - Project Director, Edgewater

2.00pm Site Visit to the new Royal Childrens’ HospitalDavid O’Shaughnessy – Project Director, RCH

3.15pm Conclusion of the day’s events

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Corporate Action since 30 June 2009

Lend Lease proposal to staple a trust to LLCThere is no change to Lend Lease’s strategy or business modelLend Lease has no ambitions to become a REITThe stapled structure will provide flexibility in how Lend Lease holds future passive assetsExisting company assets cannot be transferred to the trust including LLP To be voted on by LLC shareholders at our AGM on 12th November 2009Trust initially capitalised at circa A$500k

Lend Lease proposal to acquire remaining shares in Lend Lease PrimelifeProposal to acquire remaining 57% of shares at 31 cents per share (cost of circa A$170 million)Expected to be accretive to future earningsIn line with Lend Lease’s strategy to increase exposure to the retirement sectorIncreases LLC’s gearing from c.3% to c.9% of net debt to total tangible assets less cashIndependent Expert report out mid NovemberSubject to vote by LLP shareholders at their AGM to be held on 8th December 2009For

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Project wins since year endA$250 million Catholic Schools Education contract for Bovis Lend LeaseAcquisition of retirement/ aged care assets from PTN for A$76 millionReaching financial close on US$125 million Phase A of PAL programLaunch of Capella Capital – PPP origination capability in AustraliaFinancial close on £180 million 1st phase of Birmingham Schools’ programSale of the Dome

Project Wins since 30 June 2009

Knoxfield - Waterford Park, Melbournea retirement village owned and managed by Lend Lease Primelife

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Lend Lease Melbourne Investor Day - 20 October 2009

David HuttonCOO Asia Pacific

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Content

Lend LeaseMelbourne Investor

Day

Victoria Harbour Project

Development/ Asset Management in Lend Lease Asia Pacific

Key SectorsSector Trends & Sales update

Competitive Positioning

Commercial Approach

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Victoria Harbour:Overview and History

Victoria Harbour is a 30 hectare parcel in the centre of the Docklands precinct surrounded by 2.5km of water frontageConsidered the ‘jewel in the crown’ of Docklands, the 20 year Development Agreement includes 350,000m2 commercial; 22,000m2 retail; 20,000m2 community/mixed use; 2,069 (min) apartments, 178 marina berths; 6hs parkland & public open spaceIn 2001, Lend Lease Development was selected as the developer for Victoria Harbour and began work on nab@DocklandsDock 5, the first residential building, commenced in 2004In Feb 2006, Lend Lease committed to the Merchant Street retail development (which included the Gauge) to create the “heart” of Victoria HarbourIn the 3 years since early 2006 LLD has commenced:

- 5 commercial buildings (180,000 sqm)- 3 residential buildings (230 units)- Merchant Street Retail Centre and Children’s Hub

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Victoria Harbour:Projects as at October 2009

8

nab @ Docklands

833 Bourke Street

The Mosaic

Dock 5

Myer

ANZ

Ericsson House

The Merchant

Note: Future development site uses may change.Children’s Hub

The Gauge

Merchant Street Retail

The Montage

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Victoria Harbour:Committed & Completed Projects

9* Estimate only

The Gauge

ANZ

NAB

100,000 sqmRemaining GFA:

c$1.4b247,227 sqm

$750m*102,758 sqmANZ$180m34,247 sqmMyer$15m3,107 sqmLUCRF$58m10,590 sqmThe Gauge$95m26,325 sqmEricsson

$310m70,200 sqmNAB

ValueGFAIndicative Completion

Commercial Projects

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Victoria Harbour:Committed & Completed Projects

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Convesso (artists impression)

Merchant

243,000 sqmRemaining GFA:

$586m656 units$260m220 unitsConvesso$58m133 unitsMerchant$60m84 unitsMontage$50m71 unitsMosaic

$158m148 unitsDock 5

Value

Approximate Completion Units

Residential Projects

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LL APAC Development/Asset Portfolio

Master planned communities in major growth corridors, Australia wide

Apartments in Sydney & Melbourne

Commercial & mixed use in prime CBD positions

Retail regional centres – development/ management

Retirement & Aged Care Australia wide* Locations excluding LL Primelife

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Market Outlook

12Source: REIA, ABS, BIS Shrapnel

10

15

20

25

30

35

40

45

91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10

Sydney MelbourneBrisbane AdelaidePerth

%

as at Junef

Home Loan AffordabilityProportion of Monthly Income as repayment

•Affordability in Melbourne at its best level since 1999

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Delfin Lend Lease Trading Update

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Residential Sales Sales YTD (Sept 09)

Sales 983Victoria 337Queensland 152NSW/ACT 399South Australia 95

July, August and Sept sales have continued recent improvement and reflect 2007 historic sales momentum.Enquiry strong in all markets. Revenue escalation being achieved in all markets and margin growth also being achieved.Carry in of 886 and proposed carry over of 1,000.NSW sales have shown largest improvement in portfolio performance.FHB for last quarter was 27% (historically 16-18%) and expected to slow in next quarter. Improving conditions but DLL remains cautious in market outlook.

Mawson Lakes Lakeside at Pakenham

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Delfin Lend Lease Residential Market Trends

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Downturn

Stabilise

Growth

Recovery

Gold Coast

Perth

Brisbane

Property Cycle Clock

Townsville

Sydney

Melbourne

ACT

Cairns

AdelaideSunshine

Coast

SydneyMarket appears in recovery. Growing stock deficiency provides for positive outlook in medium term. Suits Delfin Lend Lease as currently have good project mix in this market.

MelbourneRemains strong. Positive outlook based on stock deficiency and affordability. DLL looking to invest further in this market.

SEQRebounded recently with strong sales momentum. Fundamentals remain strong. DLL well positioned in this market.ACT

Strong property market. Longer term outlook to be influenced by Government decisions. DLL well positioned in this market.

AdelaideRemains Australia’s most affordable city. Long term outlook influenced by employment prospects. DLL has a strong market presence and brand.

PerthMarket has slowed due to affordability constraints. Long term fundamentals remain strong based on infrastructure and mining projects recently announced.

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Apartment Trends

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Sydney “set to recover”Apartment approvals are currently (in trend terms) at 30% of the level they were at the start of 2004Chronic undersupply of accommodation action in NSW and unless there is an increase in supply (which looks as though it will be insufficient) prices will go higher (significantly so) and affordability will deteriorate againEven greater demand for apartment living (if it is cheaper than conventional housing)The Sydney market has moved out of the bottom of real estate cycle, as preliminary data highlight

Source: BIS Shrapnel

Downturn

Stabilise

Growth

Recovery

Property Cycle Clock

Sydney Melbourne

Brisbane 

Melbourne “consistent growth”The most significant feature of the Victorian property market remains its continual resilienceIn spite of large swings in housing affordability since the start of the decade the supply of apartments has remained remarkably stableSignificant undersupply of accommodation in the State due to rate of completions being stable while population growth has increasedThe shortage of accommodation should serve to underpin demand for all forms of accommodation in the short term

Brisbane “the worst is over’Brisbane market has seen a softening in activity since around 2004The Brisbane CBD is operating at reduced volumes – 30% below its peakCurrent market parameters for new stock to be about $8,000m2 as a minimum to be feasible, extending up for premium productThe Brisbane CBD apartments market is likely to be in a holding pattern with little new stock (apart from Meriton – 700 apartments across two projects) brought to market, and soft(cyclical and structural) demand unlikely to change significantly in the short term

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Commercial Office Outlook

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Downturn

Stabilise

Growth

Recovery

Sydney

Property Cycle Clock

Melbourne

BrisbaneSingapore

Perth

ACT

Sydney There is forecast to be a demand recovery in 2011 to precipitate a three year period of double digit rental growth (2011 to 2013).Melbourne

There is forecast to be a demand recovery in 2011 to precipitate a three year period of double digit rental growth (2012 to 2014).

Brisbane The correction in Brisbane rents will continue for the next 15 months. Prime gross effective rents will start to increase in 2011 (4.2%) and 2012 (4.0%) before averaging rental growth above 5.0% in 2013 and 2014.

PerthThe correction in Perth rents will continue for the next three years due to the elevated vacancy rate.Prime gross effective rents will start to increase in 2013 (4.3%) and 2014 (3.3%).

ACTRental growth in Canberra is relatively inelastic and is driven by new construction.Prime gross effective rents are forecast to increase by 2.2% per annum in 2010-2012, before increasing by 5.8%(2013) and 4.2%(2014).

SingaporeThere is a large development pipeline that will cause further rental corrections in the short term.The market will have a tenant bias through 2011 and be considered balanced in 2012 and 2013.

Source: Jones Lang LaSalle Research

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Competitive Positioning

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Dominate in chosen sectors

Market knowledge

Brand

Integrated capability

Backlog / diversification

Capital Model

Partnering The Terraces, Queensland

Lakeside, Pakenham

NAB

Jacksons’ Landing

Macarthur Shopping Centre

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Lend Lease Melbourne Investor Day - 20 October 2009

Bovis Lend Lease

Tony CostantinoCEO

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Fee vs Risk

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Strategy Overview

Sectors

Internal vs External

20%

80%

30%70 %

Balance of strong portfolios of work in different markets

No.1 or 2 in each sector

Balanced GPM types and risk profiles

Lend Lease integrated model

Stable workforce

Maintain focus on operational excellence

Excellence in safety

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Government and Infrastructure spend continuesHealthEducationUniversitiesWater

Private/ institutional clientsConfidence has returnedYet to be translated into projects

Maintaining market share in a smaller market

Market Outlook

The new Royal Children’s Hospital

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2008/09 HIA Reed Construction 100 report rankings:Number 1 Commercial and Community (including Health)Number 2 overall

Competitors vary by sector

Increased focus on alliances for large capital projectseg Hospitals and infrastructure

Market remains competitive

Competitive Landscape

Melbourne Recital Hall and Melbourne Theatre Company

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Backlog GPM by Sector FY09 Backlog GPM by region FY09

Trading Performance Update

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Recent Industry Recognition

The Gauge, Victoria HarbourMaster Builders Association, Victoria

Best Sustainable Award and Health and SafetySustainable Architecture Award at The Royal Australian Institute of Architects (AIA) Vic

Melbourne Recital Hall and Melbourne Theatre CompanyMaster Builders Association, Victoria

Master Builder of The YearOverall Project Winner

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ANZ Centre - just completed

Current projectsThe new Royal Children’s HospitalMyerTelstra office fitoutsTelstra land and buildingsThe Merchant500 Bourke Street

PipelinePreferred tenderer on Melbourne Wholesale MarketsPPP - Parkville Comprehensive Cancer Centre

Current Project Pipeline in Victoria

ANZ Centre

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Ongoing commitment to Government/PPPsInfrastructure e.g. water HealthEducation – schools and universities

Lend Lease integrated projectsVictoria HarbourResidential

Institutional investment opportunitiesDiversifying MultiSites beyond retail and commercialSustainability

Asset refurbishment market

Plan for Growth/Outlook

The Merchant

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Lend Lease Melbourne Investor Day - 20 October 2009

Maria Atkinson Global Head of Sustainability

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Presentation

Lend LeaseMelbourne Investor

Day

Strategy to be a sustainable leader

Progress to date

Leadership Activities

Green Buildings Sustainable Precincts Carbon Reporting and Climate Positive Developments Business Opportunities

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Sustainable Buildings & Climate Initiative

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Green Building

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To date

Tomorrow

Future – the opportunity

Sustainable Buildings

Sustainable Precincts

Sustainable Lifestyle

From Buildings to Precincts

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+ ++

++

+

+

+++++

++ ++PEDRA BRANCA SUSTAINABLE URBANISM

ZONK’IZIZWETOWN CENTER

MENLYN MAINE

PANAMA PACIFICO

DESTINY FLORIDA

TORONTO WATERFRONT LOWER DON LANDS

TREASURE ISLAND REDEVELOPMENT PROJECT

DOCKSIDE GREEN ELEPHANT & CASTLE STOCKHOLM ROYAL SEAPORT

ALBERT BASIN

MAHINDRA WORLD CITY JAIPUR

GODREJ GARDEN CITY

VICTORIA HARBOUR DOCKLANDS, MELBOURNE

VICURBAN@OFFICER

MAGOK URBAN DEVELOPMENT PROJECT

Lend Lease Projects

16 Founding Projects in 10 Countries

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Lend Lease Melbourne Investor Day - 20 October 2009

ANZ Centre

Paul YoussephProject Director

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ANZ ‘s new Global HeadquartersAustralia’s largest single tenanted office buildingLocation: Victoria Harbour, MelbourneProject Size: 83,500sqm net lettable area

135,000sqm built area6,500 occupants1,900sqm RetailCommencement Date: October 2006Completion Date: October 2009Sustainable Initiatives

Project Overview

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The Project Team

ANZ

Lend Lease Development

Bovis Lend Lease

Lend Lease design

Owner / Occupier

Development Management

Project ManagementDesign & Construction

Architectural designSustainable design

Lend Lease IntegratedProperty Solution

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Sustainable SolutionsAbility to influence outcomesIntegrated approachWealth of knowledge and expertise

Our Approach

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Our Value Proposition

Value Proposition Value to Client

Inherent knowledge of commercial industry

Focus on optimising owners’and tenants end outcome

Early capping of Development, Design and Construction risk

Owner / tenant outcome certainty

Upfront , in house services embedded in the Lend Lease approach

Streamlined process resulting in time saving and creating value through an innovative front end focus and problem solving

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Lend Lease Melbourne Investor Day - 20 October 2009

Myer, Melbourne

Toni BlumeHead of Design & Project Management, CommercialBovis Lend Lease

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Lend Lease integrated team: Building Owner APPF CommercialDeveloper/Development Management Lend Lease DevelopmentDesign, Project Management & Construction Bovis Lend Lease including Lend Lease design

Project : National Support Office for Myer Australia – relocating from Lonsdale St Melbourne

Location: 800 Collins St, Melbourne opposite ANZ, Victoria Harbour

Project value: total building including integrated fitout = $180M

Construction: commenced March 2008

Completion : late March 2010

Project Overview

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New commercial office with integrated tenant fitout10 year lease with 5 year option28,850sqm Commercial lettable area Large floorplates 2,900sqm NLA880sqm Retail area310 car and 100 bike spaces above ground over three carpark levels Achieved 5 star Green Star Design rating (V3) and registered for As Built rating(V3) Targeting 4.5 star NABERS energy design ratingInnovative façade with feature vision panels and clear glass ‘shop windows’ across large floor platesLarge outdoor terraces approx 600m2

Project Offer

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End to end role including:Master planningDevelopment feasibilityTotal development packagingLease negotiationsDevelopment managementDesign and construction management Value management role using in-house specialists Fast tracked response and decision makingSpeed to marketTenant management role during developmentBuilding owner management

Our Service

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Victoria Harbour masterplan with a variety of commercial office sites to tailor buildings to commercial tenant needs

Lend Lease integrated model provides a total packaged property solution at a competitive price

Strong national relationship with Myer via our retail business

Quality, innovative and integrated design

Lend Lease track record for delivery on time and budget

Recognition as the market leader in developing sustainable property projects

Our Competitive Advantage

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Lend Lease Melbourne Investor Day - 20 October 2009

Edgewater

Jill LimProject Director

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Edgewater overview

Location 7km west of CBD

Size 95 hectares / 1,100 homes

Time frame 2001 – 2012

Value $292 million

History Former munitions site purchased from ComLand

FeaturesApprox. half the project is open space1.5 km Maribyrnong River frontage7 hectare artificial lakeMarina with public/private mooringsCentral retail/business precinctProximity to surrounding schools, shopping, recreation, CBDF

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Edgewater trading history

598 land lots (sold out FY09) 500+ apartments/high density residential in planning/under construction

29.9 hectares residential land3.75 hectares commercial land 9.6 hectares high density sites 51%

34%

11%

4%

Open space

Residential land

High density land

Commercial land

Development by type

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Edgewater trading history

Highest residential land sale Skyline Drv 334 sqm - $650,000 (June 2007)

Highest residential built form saleInfinity 198 sqm - $930,000 (October 2009)

Highest commercial land saleSite 7C off Gordon Street – 1.82 hectare - $9.5 million (incl. GST) (December 2007)For

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Edgewater current trading

The Outlook - built form project60 - 80 dwellings per hectare119 built form homes 8 different built form products32 sold to date (K, 1, 2 & 3)Price range from $460,000 - $1.2mFloor plans range from 126 sqm –375 sqm1 apartment site (10) Built form designed by Lend Lease

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Edgewater competitive landscape

Avg home size

Product range

Price rangeTotal lots

First-second home buyers

First home buyers

Second+ home buyers

First-second home buyers

Target marketStage 5 sellingStage 2 sellingInitial releaseFinal homesTrading

18 sq18 sq21 sq18 sq

2 - 4 bedroom2 - 4 bedroom2 - 5 bedroom3 - 4 bedroom$344k - $554k$430k - $550k$550k - $950k$390k - $580k250380200+123ProductSunshine WestFootscrayAscot ValeMaribyrnongLocation

AustralandCedar Woods Properties Ltd

UrbexStocklandsDeveloper

Callaway ParkBanbury Village

Ascot ChaseEssence

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Average/sqm price

$400$600

$800$1,000$1,200$1,400

$1,600$1,800

FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09

Edgewater price growth - Land

Average sale price

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09

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Lend Lease Melbourne Investor Day - 20 October 2009

The new Royal Childrens’ Hospital Project

David O’ShaughnessyProject Director

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Project Introduction

Healthcare provides an opportunity for Bovis Lend Lease to capitalise on large government infrastructure spend in a changing market environment Introduction in Australian market to PPPs, building on the Bovis PPP business in the UKLarge scale, complex nature of the project suits our capabilities and capacity to deliver

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Project Overview

Public Private Partnership project under the “Partnership Victoria” delivery model – 25 year concession term

ConsortiumSponsor: Amber Infrastructure (old Babcock and Brown)Design and Construction Provider: Bovis Lend LeaseHard Facilities Management Provider: Spotless Group

Two Stage Project Stage 1 140,000m2 Facility Works Completion

48,000m2 Carpark Dec 2011Stage 2 48,0000m2 Project Co. Works Completion

25,000m2 Carpark Dec 2014

RoleProject Management, design, construction, commissioning, finalisation and transition

Key TenantsRoyal Childrens’ HospitalUniversity of Melbourne (Department of Paediatrics)Murdoch Childrens’ Research Institute

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Project Attributes

Size of final site is less than 4.1ha.Additional patient capacity is 35,000 patients per annumTotal beds – 353 with 85% of single beds and 80% with views to parkland2,165 car spaces, 500 bike spacesNon core offering – 98 room hotel, gymnasium, supermarket, childcare, consulting suites, food and beverageCommunity Partnerships – partnerships with Melbourne Aquarium, Zoo, Scienceworks, Starlight Foundation, Bean Bag TheatreEcologically Sustainable Development (ESD)

Reduction in greenhouse gas emissions – 48%Reduction in water demand – 20%

4,500 rooms, 74 departmentsInpatient wardsEmergency and operating theatresClinical support areas (pathology, imaging, etc)Ambulatory care, allied health, community health, mental healthResearch and EducationFamily and Child precinct

Evidence based design

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Project Status

Program: On program to deliver to contracted timeframes

Design: Have completed all user groups

Final design submission (design stage 3) made to 92% of first stage of the project

State have endorsed 75% of the design

Construction: Structure due to top off in November, ahead of schedule

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Questions?

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Lend Lease Melbourne Investor Day - 20 October 2009

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