Company: LEN
Filing Date: 2025-11-18
Form Type: 425
Source: 0001193125-25-286132
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Company: LENNAR CORP /NEW/
Filing Date: 2025-11-18
Form: 425
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Filed by Lennar Corporation

pursuant to rule 425 under the Securities Act of 1933, as amended

Subject Company: Lennar Corporation

Commission File No.: 1-11749

Lennar Confirms Expiration Date of Exchange Offer

Expects Registration Statement to be Effective by Expiration Date

MIAMI, Nov. 18, 2025 /PRNewswire/ — Lennar Corporation (NYSE: LEN and LEN.B) (“Lennar”) confirmed today that in view of the
reopening of the U.S. federal government, Lennar is proceeding as previously announced with the offer to exchange the approximately 20% of the total outstanding shares of Millrose Properties, Inc. (NYSE: MRP) (“Millrose”) it owns for
outstanding shares of Lennar Class A common stock (the “Exchange Offer”). The Exchange Offer is scheduled to expire at 12:00 midnight, New York City time, on November 21, 2025 (the “Expiration Date”). Lennar
anticipates accepting the tendered Lennar Class A common stock in the Exchange Offer, subject to possible proration.

Yesterday, on November 17,
2025, Millrose requested acceleration of effectiveness of the registration statement on Form S-4 filed by Millrose with the Securities and Exchange Commission (“SEC”) in connection with the
Exchange Offer (the “Registration Statement”). We expect the Registration Statement to be declared effective before the Expiration Date. However, the Exchange Offer cannot be completed until the Registration Statement is declared
effective. If the SEC does not declare the Registration Statement effective by the Expiration Date, Lennar will have to further extend the Exchange Offer or terminate it without accepting tendered shares.

About Lennar

Lennar Corporation, founded in 1954, is
one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar’s Financial
Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar’s homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United
States. Lennar’s Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LEN drives Lennar’s technology, innovation and strategic
investments.

Forward-Looking Statements

This
communication contains certain statements about L