Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 58

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 58
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 Company or the underwriters, among others, are or become a party in interest or disqualified person may constitute or result in a direct or indirect
prohibited transaction under Section 406 of ERISA or Section 4975 of the Code, unless the Notes are acquired and held in accordance with an applicable exemption.

Certain exemptions from the prohibited transaction rules of Section 406 of ERISA and Section 4975 of the Code could be applicable to
the purchase and holding of Notes by a Plan subject to ERISA and/or Section 4975 of the Code, depending on the type and circumstances of the fiduciary making the decision to acquire such Notes and the relationship of the party in interest or
disqualified person to the Plan. Included among these exemptions are:

Section 408(b)(17) of ERISA and Section 4975(d)(20) of
the Code provide relief from the prohibited transaction provisions of ERISA and Section 4975 of the Code for certain transactions, provided that neither the issuer of the securities nor any of its affiliates (directly or indirectly) have or
exercise any discretionary authority or control or render any investment advice with respect to the assets of a Plan involved in the transaction and provided further that the Plan pays no more than adequate consideration in connection with the
transaction. In addition, the U.S. Department of Labor has issued certain administrative prohibited transaction exemptions that may apply to the purchase and holding of Notes, including Prohibited Transaction Class Exemption (“PTCE”) 84-14 (relating to transactions effected by a “qualified professional asset manager”), PTCE 90-1 (relating to investments by insurance company pooled separate
accounts), PTCE 91-38 (relating to investments by bank collective investment funds), PTCE 95-60 (relating to investments by insurance company general accounts) and PTCE 96-23 (relating to transactions directed by an in-house asset manager).

Each of these exemptions contains conditions and limitations on its application, and there can be no assurance that any of these exemptions or
any other exemption will be available with respect to any particular transaction involving the Notes. Fiduciaries of Plans subject to ERISA and/or Section 4975 of the Code should consult with their counsel regarding the availability of any
exemption before purchasing any Notes.

If the investor is a Plan that is not subject to ERISA and/or Section 4975 of the Code, the
investor should consider whether the acquisition and holding of the Notes meets all requirements of,