Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 14

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 14
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 and cash flows;                                  |

| • |     | We may find it difficult, or may be unable, to obtain additional financing to fund future working capital,   
 capital expenditures and other general corporate requirements that would be in our best long-term interests; |

| • |     | We may be required to dedicate a substantial portion of our cash flow from operations to the payment of                                                            
 principal and interest on our debt, reducing the cash flow available to fund operations and investments and reducing the amount we can return to our stockholders; |

| • |     | We may have reduced flexibility in planning for, or reacting to, changes in our businesses or the 
 industries in which they are conducted;                                                           |

| • |     | We may have a competitive disadvantage relative to other companies in our industry, if any, that are less 
 leveraged; and                                                                                            |

| • |     | We may be required to sell debt or equity securities or sell some of our core assets, possibly on 
 unfavorable terms, in order to meet debt payment obligations.                                     |

Servicing our debt requires a significant amount of cash, and we or our subsidiaries may not have sufficient cash flow from our respective businesses to pay our substantial debt. Our ability and that of our subsidiaries to meet our respective debt service obligations will depend, in part, upon our and our subsidiaries’ future financial performance. Future results are subject to the risks and uncertaintiesdescribed in this prospectus supplement and the documents incorporated herein. Our revenues and earnings vary with the level of general economic activity in the markets we serve. Our businesses are also affected by financial and political events and other factors, many of which are beyond our control. The factors that affect our ability to generate cash can also affect our ability to raise additional funds for these purposes through the sale of debt or equity, the refinancing of debt or the sale of assets. Changes in prevailing interest rates may affect the cost of our debt service obligations. See “Other Indebtedness.” S-8

Some significant restructuring transactions may not constitute Change of Control Triggering Events, in which case we would not be obligated to offer to repurchase the Notes.

If a Change of Control Triggering Event occurs, you will
have the right to require us to repurchase your Notes. However, the provisions relating to a Change of Control Triggering Event will not afford protection to holders of Notes in the event of some transactions that could adversely affect the Notes.
For example, transactions such as leveraged recapitalizations, refinancings, restructurings