Company: LEN
Filing Date: 2025-10-10
Form Type: 425
Source: 0001193125-25-236399
Chunk: 2

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-10
Form: 425
Chunk 2
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 tendered by each Lennar stockholder.

The Exchange Offer is voluntary for Lennar Class A stockholders. No action is necessary for Lennar Class A stockholders who choose not to
participate. No offer is being made to holders of Lennar Class B common stock, and such holders are not eligible to participate in the Exchange Offer.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as dealer managers for the Exchange Offer. Vestra Advisors, LLC is acting as
exclusive financial advisor to Millrose.

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 Lennar and Millrose that are forward-looking statements. Forward-looking statements
are based on current expectations and assumptions regarding Lennar’s and Millrose’s respective businesses, the economy and other future conditions. In addition, the forward-looking statements contained in this communication may include
statements about the expected effects on Lennar and Millrose of the Exchange Offer, the anticipated timing and benefits of the Exchange Offer, Lennar’s and Millrose’s anticipated financial results, and other statements that are not
historical facts.

Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes
in circumstances that are difficult to predict and are detailed more fully in Lennar’s and Millrose’s respective periodic reports filed from time to time with the SEC, the Registration Statement relating to the Exchange Offer and the
Prospectus forming a part of it, the Schedule TO and other Exchange Offer documents filed by Lennar or Millrose, as applicable, with the SEC. Additionally, the possibility that the ongoing U.S federal government shutdown will cause the SEC not to be
able to declare the Registration Statement effective before

2

the expected expiration of the Exchange Offer may cause the anticipated timing and completion of the