Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 41

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 41
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 respect to interests of direct participants, and the records of direct and indirect participants, with respect to interests of persons other than participants. |

| • |     | Payments by participants to owners of beneficial interests in the global note held through such                                                                                                                                                      
 participants will be governed by standing instructions and customary practice as is now the case with securities held for the accounts of customers registered in the names of nominees for such customers. The participants will be responsible for 
 those payments. Transfers between participants in DTC will be effected in accordance with DTC’s rules and will be settled in immediately available funds.                                                                                            |

The laws of some jurisdictions require that purchasers of securities take physical delivery of those securities in definitive form. Accordingly, the ability to transfer interests in the Notes represented by a global note to those persons may be limited. In addition, because DTC can act only on behalf of its participants, who in turn act on behalf of persons who hold interests through participants, the ability of a person having an interest in Notes represented by a global note to pledge or transfer those interests to persons or entities that do not participate in DTC’s system, or otherwise to take actions in respect of such interest, may be affected by the lack of a physical definitive security in respect of such interest. As long as the Notes are represented by one or more global notes, DTC’s nominee will be the holder of the Notes and therefore will be the only entity that can exercise a right to repayment, repurchase or conversion of the Notes. Notice by participants or indirect participants or by owners of beneficial interests in a global note held through such participants or indirect participants of the exercise of the option to require purchase of beneficial interests in Notes represented by a global note must be transmitted to DTC in accordance with its procedures on a form required by DTC and provided to participants. In order to ensure that DTC’s nominee will timely exercise a right to purchase with respect to a particular note, the beneficial owner of such note must instruct the broker or the participant or indirect participant through which it holds an interest in such note to notify DTC of its desire to exercise a right to purchase. Different firms have different cut-offtimes for accepting instructions from their customers and, accordingly, each beneficial owner should consult the broker or other participant or indirect S-25

participant through which it holds an interest in a note in order to ascertain the cut-offtime by which such an instruction must be given in order for timely notice to be delivered to DTC. We will not be liable for any delay in delivery of notices