Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 57

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 57
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 of which are satisfied) (each, a “Transaction Party”), will act as a fiduciary to any Plan with respect to the decision to invest such Plan’s assets in the Notes pursuant to this offering. No Transaction Party is
undertaking to provide any advice or recommendation, including, without limitation, in a fiduciary capacity with respect to a prospective Plan’s decision to invest in the Notes pursuant to this offering, and such decision must be made on an
arm’s length basis.

Prohibited Transaction Considerations

Section 406 of ERISA and Section 4975 of the Code, prohibit certain transactions involving the assets of a Plan subject to ERISA
and/or Section 4975 of the Code and certain persons (referred to as “parties in interest” or “disqualified persons”) having certain relationships to such Plans, unless a statutory or administrative exemption is applicable to
the transaction. To the extent that such a Plan engages in a prohibited transaction for which no exemption is available, the fiduciary that caused the Plan to engage in the transaction may be subject to liability. Additionally, the party in interest
or disqualified person involved in the prohibited transaction may be subject to excise taxes under ERISA and the Code.

S-35

Any Plan fiduciary which proposes to cause a Plan to purchase the Notes should consult with
its counsel regarding the applicability of the fiduciary responsibility provisions of ERISA and the prohibited transaction provisions of ERISA and Section 4975 of the Code to such an investment, and to confirm that such purchase and holding of
any Notes is in accordance with the documents and instruments governing the Plan and will not constitute or result in a non-exempt prohibited transaction or any other violation of an applicable requirement of
ERISA or the Code.

The fiduciary of a Plan that is subject to ERISA and/or Section 4975 of the Code that proposes to purchase and
hold any Notes should consider, among other things, whether such purchase and holding may involve a prohibited transaction, including, without limitation, (i) the direct or indirect extension of credit between a Plan and a party in interest or
a disqualified person, (ii) the sale or exchange of any property between a Plan and a party in interest or a disqualified person, or (iii) the transfer to, or use by or for the benefit of, a party in interest or disqualified person, of any
Plan assets. The purchase and/or holding of the Notes by such a Plan with respect to which the