We Are JLL Who We Are JLL Is a Professional Services and Investment Management Firm Specializing in Real Estate

2013 Annual Report Jones Lang LaSalle Incorporated Hello We are JLL Who we are JLL is a professional services and investment management firm specializing in real estate. We offer integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying, developing or investing in real estate. n With 2013 revenue of more than $4 billion, our 52,700 colleagues serve clients in over 75 countries, from more than 200 corporate offices. n We are an industry leader in property and corporate facility management services, with a portfolio of 3.0 billion square feet worldwide. n During 2013, we completed 28,900 transactions for landlord and tenant clients, representing 658 million square feet of space. n We provided capital markets services for $98.7 billion of client transactions. n LaSalle Investment Management, our investment management business, is one of the world’s largest and most diverse in real estate with $47.6 billion of assets under management. As the cover of this report illustrates, we’ve shortened our market name to JLL and modernized our corporate logo. Our legal identity — Jones Lang LaSalle Incorporated — and LaSalle Investment Management’s name remain the same. JLL is more memorable, more visible and more easily understood, particularly in international markets. It is well suited to the digital and mobile technologies we rely on today. And, since many people already know us as JLL, it reflects reality and allows us to go to market with a single, unified identity. While our name has evolved, our values remain constant: superior client service, teamwork and collaboration, and adhering to the highest ethical standards. Shanghai ARCH project: We were recently appointed by Asia Pulp & Paper Co., Ltd. as the joint leasing agent of the 1.22 million sq. ft. Shanghai ARCH project, the biggest mixed-use development in the Shanghai Hongqiao Central Business District. What we have accomplished n Long history of profitable Ten-year track record $5,482* revenue growth $389 – 10-year compound annual revenue growth = 16%; Organic = 12%; and M&A = 4% – 50+ mergers and acquisitions since 2003 ~8x $4,027 ~7x n Post-recession success from adapting to market cycles and ~4x capturing market share 2013 $942 $59 $685 2003 n Investment-grade financial strength *March 2014 maintained for future growth Fee Revenue1 Adjusted Operating Income2 Market Cap3 n Experienced executive leadership ($ in millions) ($ in millions) ($ in millions) creates value for clients and shareholders – Six-member Global Executive Consolidated earnings scorecard Board with combined 90-year tenure 2013 – 300+ International Directors drive growth and provide deep leadership bench Fee Revenue1 Adjusted Operating Income2 Adjusted Net Income2 Adjusted EPS2 $4.0B $389M/9.7% $285M $6.32 Gross Revenue: $4.5B Op. Income: $369M/9.2% US GAAP: $270M US GAAP: $5.98 2012 $3.6B $340M/9.3% $245M $5.48 Gross Revenue: $3.9B Op. Income: $289M/8.0% US GAAP: $208M US GAAP: $4.63 Stock prices 2012 2013 The following table sets forth the $102.80 $100.69 $100.02 high and low daily closing prices $97.10 of our common stock as reported $87.08 22¢ 22¢ on the New York Stock Exchange $85.09 $83.81 $86.16 and dividends paid by quarter 20¢ $85.56 $86.50 (shown in the 2Q and 4Q bars). 20¢ $82.15 $82.68 $73.53 $66.56 $63.21 $64.67 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1 Fee Revenue is total revenue excluding vendor and subcontract costs that are Sturge intangible amortization of $2 million, $5 million and $0 million, for the years included in both revenue and expense. We believe that excluding gross contract ended December 31, 2013, 2012 and 2003, respectively. We believe that excluding costs from revenue gives a more accurate picture of our revenue growth. these items gives a more meaningful year-over-year comparison. Please see the accompanying Form 10-K for additional information. 2 Adjusted Operating Income, Adjusted Net Income and Adjusted EPS (earnings per diluted average share) include adjustments to exclude the impact of 1) restructuring 3 Market Cap for 2003 is based on the peak share price in the year. and acquisition charges of $18 million, $45 million and $4 million, and 2) King Colin Dyer Chief Executive Officer and President To our stakeholders 2013 marked another record year for JLL. Strong markets for real estate investment sales, corporate outsourcing and institutional funds management were tempered by weaker leasing activity in most of the world. In this environment, we recorded historically high revenue and earnings for the year. Our success was driven, once again, by the superior performance of our staff, professionals who delivered excellent service to our clients, expanding existing relationships while attracting new clients to the firm. Throughout the year, we strengthened our balance sheet, improved productivity across our business and captured additional market share. Operating a sustainable company A successful business for more than 250 years, we understand the range of priorities In last year’s annual report, we presented that sustainability requires: building long- our vision of maintaining JLL’s position as a term client relationships with integrity; sustainable enterprise. We always intend to maintaining and extending our competitive be a company that is trusted and relied upon position and financial strength; and by our stakeholders: clients, shareholders, growing continuously to create profits employees, suppliers and the communities for shareholders, rewards and career around the world in which we live and work. opportunities for employees, and funds for investments in future growth. A sustainable company is also a diverse and inclusive organization whose staff mirrors the world of our clients and our communities. 2013 JLL Annual Report And we recognize the important role Record financial results we play in reducing the environmental Our 2013 financial results illustrate our impact of the real estate that our clients ability to create and sustain long-term value. own, occupy and develop, and to reflect Fee revenue increased to a record $4 billion, this expertise in our own occupied space. 12 percent above 2012 results. Adjusted net Our leadership contributes to the financial income totaled $285 million, or $6.32 per viability of our firm while addressing long- share, up 15 percent from the previous year. term challenges. We continued to generate strong cash Welcome to JLL flows in 2013. Over the past three years, our business has produced $832 million 2013 was a year of continued growth and of cash from operations, $535 million after positive change for our firm.One very capital expenditures. Guided by rigorous visible emblem of that change came early strategic and financial hurdles to assess this year — and is illustrated on this report’s investment opportunities, we use this cash cover — when we formally adopted JLL to fund opportunities to grow our business as our trading name and introduced a in our consolidating industry. And this modernized logo. is the second consecutive year that we JLL is easier to write and pronounce in have reduced our net debt by more than multiple languages than our longer name. $100 million while investing in the business The shortened name and updated logo are and increasing our dividend. more memorable for clients and prospects, and more visible in external signage. JLL Promoting our global growth priorities supports our expansion into digital and 2013 marked the ninth year in which we mobile channels. And, since many people have successfully managed our business already called us JLL, it standardizes around five global growth priorities. We the use of our name for marketing, call them the G5. communications and conversations. The first G focuses on strengthening our The Jones Lang LaSalle name has served us client-service capabilities and competitive well for 15 years, and it will remain our legal position in key real estate and capital identity. (LaSalle Investment Management, markets around the world. Gs two whose trading name is LaSalle, will retain through four anticipate and respond to its legal name as well.) We have built a global opportunities in outsourcing, real powerful brand throughout the world, but it estate investment sales and institutional needs to keep evolving and remain aligned investment management. The fifth G helps with the direction our business takes. us accelerate and leverage progress on the Adopting the shorter name and new logo is first four by connecting our people, service a good choice for a firm which, throughout lines, technologies and market positions its long history, has proven itself adept at to serve clients better, grow our business recognizing and taking advantage of new sustainably and manage enterprise risk. market opportunities. 2013 JLL Annual Report Build our leading local and regional Major assignments included being market positions appointed by JPMorgan Chase to deliver G1 facilities management services for its Our strong capabilities in local and 27-million square foot portfolio in the regional markets throughout the world eastern U.S. and Asia Pacific. We are also enable us to be a leading service provider providing the global IT platform for all of globally. As a result, we are always looking the financial services firm’s real estate data. for strategic opportunities to improve our presence in important geographical We also implemented three major markets and in key client and industry outsourcing assignments during the year — segments within these markets. for HSBC, Canada Post and Nippon Sheet Glass — demonstrating our ability to serve To that end, we completed five targeted customers globally, quickly and efficiently. acquisitions in 2013: n Capital Realty LLC, a Kansas City-based In addition, we continued to expand our firm whose expertise ranges from leasing and local-market-level Corporate Solutions property management to transactions, project business, which serves corporate clients management and development services.

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