Company: LEN
Filing Date: 2025-11-20
Form Type: SC TO-I/A
Source: 0001193125-25-289929
Chunk: 2

Company: LENNAR CORP /NEW/
Filing Date: 2025-11-20
Form: SC TO-I/A
Chunk 2
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 previously reported on the Schedule TO.

Item 4. Terms of the Transaction.

Item 4(a) of the Schedule TO, which incorporates by reference the information included in the Exchange Offer Documents, is hereby amended and
supplemented by adding the following thereto:

(a) Material Terms.

For each share of Lennar Class A common stock that is validly tendered and not validly withdrawn by Lennar stockholders and that is accepted
by Lennar pursuant to the terms of the Exchange Offer, the tendering stockholders will receive 4.1367 shares of Millrose Class A common stock.

Because the Exchange Offer will be subject to proration if it is oversubscribed, the number of shares of Lennar Class A Common Stock that
Lennar accepts in the Exchange Offer may be less than the number of shares validly tendered by Lennar stockholders.

Based on the final
exchange ratio, Lennar can accept for exchange up to approximately 8,049,596 shares of Lennar Class A Common Stock if the Exchange Offer is fully subscribed.

On November 20, 2025, Lennar issued a press release announcing the final exchange ratio of the Exchange Offer, a copy of which is
attached as Exhibit (a)(4)(xxxiv) hereto and is incorporated herein by reference.

Item 12. Exhibits. Item 12 of the Schedule TO is hereby amended and supplemented by adding the following thereto:

| Exhibit        
 No.            |     | Description                                                                                                                 |
| (a)(4)(xxix)   |     | Text of the website that is being maintained in connection with the Exchange Offer, updated on November                     
 17, 2025 (incorporated by reference to Lennar’s Form 425 filing with the SEC on November 17, 2025).                         |
| (a)(4)(xxx)    |     | Press Release by Lennar, dated November 18, 2025 (incorporated by reference to Lennar’s Form                                
 425 filing with the SEC on November 18, 2025).                                                                              |
| (a)(4)(xxxi)   |     | Text of the website that is being maintained in connection with the Exchange Offer, updated on November                     
 18, 2025 (incorporated by reference to Lennar’s Form 425 filing with the SEC on November 18, 2025).                         |
| (a)(4)(