Scott Charlton - Group Director of Operations Peter Brecht - Managing Director, Infrastructure

Infrastructure Update

Agenda

1. Capabilities and markets2. Safety3. Trading update4. Major projects5. Risk approach6. Backlog/revenue split

Capabilities and markets

Capabilities Civil infrastructure Building Specialist engineering and asset

management services

Market sectors Roads, bridges, tunnels, water, rail,

marine Oil & gas, power,

telecommunications, mining Social and correctional facilities,

commercial and industrial building and residential building

3

Hunter Expressway, NSW

Safety

Leveraging best practice between Lend Lease and infrastructure businesses

Continued year on year reduction in Lost Time Injury Frequencies

Safety goal of zero harm – this aligns with Lend Lease goal of Incident & Injury Free

All companies are focusing on lead indicators however are still required to report the lag indicators

4

Queensland Children’s Hospital, QLD

Trading update

5

Good start to the calendar year with A$756m of new work Non residential building slow but opportunities in

health and defence Shortlisted on A$1b Victorian Comprehensive

Cancer Centre Shortlisted on a number of defence contracts

Engineering/infrastructure opportunities Shortlisted on packages C & E of Regional Fast

Rail Shortlisted on A$700m Abbott Point marine project

Services Opportunities for power and telecommunications

Strong combined backlog A$5.3b of secured work at 31st March and A$1.6b

of work pending Hunter Treatment Alliance, NSW

New secured and pending projects – 2011

Project Total *Project Value A$m

Type of Contract Location

Adelaide Convention Centre 350 Managing contractor SA

Holbrook Bypass 168 Schedule of rates NSW

City Central Tower 8 164 Design and construct SA

Reid Alexander Interchange 48 Design and construct WA

Atherton Gardens 39 Design and construct VIC

BAC International Apron and Taxiway 28 Construct only QLD

9 other smaller projects including NBN 90 Various Qld, NSW, VIC, TAS

Pending projects 1,7481

6

*Not all of the amount may relate to construction work1. May 2011

Risk approach

Solid risk management discipline

Comprehensive limits of authority and probity arrangements have been put in place

Largest fixed price contract size circa A$1b

No new material project issues identified

Alignment and best practice sharing of risk management and safety cultures

7

Adelaide Convention Centre, SA

Backlog/ revenue split – 31 December 2010

Engineering construction

65%

Building23%

Services12%

Backlog by market

Fixed price contract

43%Other con-struction con-

tracts45%

Services12%

Backlog by contract type

Engineering construction

48%Building

35%

Services17%

Revenue by market

Fixed price contract

40%Other con-

struction con-tracts43%

Services17%

Revenue by contract type

8* Definition of other construction contracts includes managing contractor roles, schedule of rates, alliance contracts and other contracts