Company: LEN
Filing Date: 2025-10-28
Form Type: 425
Source: 0001193125-25-253797
Chunk: 3

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-28
Form: 425
Chunk 3
---
ar 401(k) Plan), which cannot be withdrawn after 4:00 p.m., New York City time, on November 3, 2025 (unless extended). If the Exchange Offer is extended, and if administratively feasible, the deadline for receipt of instructions to withdraw or change your previously submitted instructions with respect to shares held through the Lennar 401(k) Plan may also be extended. If the Exchange Offer is oversubscribed and Lennar cannot accept all tenders of Lennar Class A Common Stock at the exchange ratio, then all shares of Lennar Class A Common Stock that are validly tendered will generally be accepted for exchange on a pro rata basis in proportion to the number of shares validly tendered, which is referred to as proration. Stockholders who beneficially own odd-lots(less than 100 shares) of Lennar Class A Common Stock and who validly tender all of their shares will not be subject to proration. If the Exchange Offer is consummated but less than all shares of Millrose Class A Common Stock offered by Lennar in the Exchange Offer are exchanged because the Exchange Offer is not fully subscribed, Lennar intends to dispose of the shares of Millrose Class A Common Stock that were offered but not exchanged through a subsequent spin-off, split-off,public offering, private sale or any combination of these potential transactions (the Clean-Up Disposition). Because the Clean-UpDisposition, if any, will occur following the completion of the Exchange Offer, if the Clean-UpDisposition involves a distribution or offer to Lennar stockholders, holders of shares of Lennar Class A Common Stock validly tendered and accepted and exchanged in the Exchange Offer will not be able to participate in the Clean-UpDisposition (unless they own shares of Lennar Class A Common Stock that were not tendered and accepted for exchange in the Exchange Offer as of the relevant record date). 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. The completion of the Exchange Offer is subject to certain conditions as specified in the Prospectus. Lennar may waive any or all of the conditions to the Exchange Offer, subject to limited exceptions. The information on this website is being provided solely in connection with the Exchange Offer and should