Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 48

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 48
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 more Subsidiaries or (b) a partnership, of which we or any Subsidiary is the sole general partner and of which the Company or a Subsidiary owns at least 25% in value of the equity.

“Total Consolidated Stockholders’ Equity” means, with respect to any date of determination, our total consolidated
stockholders’ equity as shown on the most recent consolidated balance sheet that is contained or incorporated in the latest annual report on Form 10-K (or equivalent report) or quarterly report on Form 10-Q (or equivalent report) filed with the SEC, and is as of a date not more than 181 days prior to the date of determination, in the case of the consolidated balance sheet contained or incorporated in an annual
report on Form 10-K, or 135 days prior to the date of determination, in the case of the consolidated condensed balance sheet contained in a quarterly report on Form
10-Q.

“U.S. Government Obligations” means direct obligations of, and obligations
guaranteed by, the United States of America for the payment of which the full faith and credit of the United States of America is pledged.

S-29

CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS The following summary describes certain U.S. federal income tax considerations to you relating to purchasing, owning and disposing of Notes. This summary is based on the Internal Revenue Code of 1986, as amended (the “Code”), legislative history, administrative pronouncements and practices of the Internal Revenue Service (“IRS”), judicial decisions and final, temporary and proposed Treasury regulations, all of which are subject to change or differing interpretation, possibly with retroactive effect. Any such change or interpretation may adversely affect the accuracy of this discussion. We can provide no assurance that the tax consequences described in this discussion will not be challenged by the IRS or that any such challenge will not be sustained by a court. This summary assumes that, except where otherwise specifically noted, you will acquire Notes on original issue at their “issue price” for U.S. federal income tax purposes (generally, the first price at which a substantial amount of the Notes is sold by the underwriters for money to investors) and will hold them as capital assets. It does not address all the tax consequences that may be relevant to you in light of your particular circumstances. State, local and non-U.S.income tax laws may differ substantially from the corresponding U.S. federal income tax laws, and this discussion does