On a corporate action affecting Class A ordinary shares of Lennar Corporation (LEN)

On January 10, 2025, Lennar Corporation announced spin-off of approximately 80% of the stock of Millrose Properties, Inc. Lennar Corporation stockholders will receive one share of Millrose Properties, Inc. Class A common stock for each two shares of Lennar Corporation Class A common stock they own to be effective on February 7, 2025. The NYSE has set January 21, 2025 as the ex-distribution date for this distribution. For more details, please, refer to the company’s website. 

ITS Ltd. will publish separate notices on the procedures undertaken by ITS Ltd. to process this corporate action outlining how trading in these qualified investments will be carried out. Please note that January 20, 2025 is a Trading & Settlement Holiday.