8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 16, 2011

JONES LANG LASALLE INCORPORATED

(Exact name of registrant as specified in its charter)

Maryland	001-13145	36-4150422
(State or other jurisdiction of Incorporation	(Commission File Number)	(IRS Employer Identification No.)

200 East Randolph Drive, Chicago, IL	60601
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (312) 782-5800

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01. REGULATION FD DISCLOSURE

Additional information of the registrant is attached as Exhibit 99.1 to this report and is incorporated herein by reference. The registrant undertakes no obligation to update this information, including any forward-looking statements, to reflect subsequently occurring events or circumstances.

NOTE: The information in this report (including the exhibit) is furnished pursuant to Item 7 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. This information will not be deemed an admission as to the materiality of any information contained herein that is required to be disclosed solely by Regulation FD.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

The following exhibit is included with this Report:

99.1. Jones Lang LaSalle February 2011 Investor Relations Presentation

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: February 16, 2011	JONES LANG LASALLE INCORPORATED
	By:	/s/ Joseph J. Romenesko
		Name: Joseph J. Romenesko
		Title: Executive Vice President and Treasurer

EXHIBIT INDEX

Exhibit 99.1 Jones Lang LaSalle February 2011 Investor Relations Presentation

EX-99.1

Investor Presentation

February 2010

..40,000 employees….185 offices….60 countries….1 global platform..

Exhibit 99.1

Forward looking statements

2

Statements in this presentation regarding, among other things, future financial results and performance, 

achievements, plans and objectives and dividend payments may be considered forward-looking statements 

within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and 

unknown risks, uncertainties and other factors which may cause actual results, performance, achievements, 

plans and objectives of Jones Lang LaSalle to be materially different from those expressed or implied by such 

forward-looking statements. Factors that could cause actual results to differ materially include those discussed 

under “Business,” “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of 

Operations,” “Quantitative and Qualitative Disclosures about Market Risk,” “Cautionary Note Regarding Forward-

Looking Statements” and elsewhere in Jones Lang LaSalle’s Annual Report on Form 10-K for the year ended 

December 31, 2009 and in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2010 and in

other reports filed with the Securities and Exchange Commission. There can be no assurance that future

dividends will be declared since the actual declaration of future dividends, and the establishment of record and 

payment dates, remains subject to final determination by the Company’s Board of Directors.  Statements speak 

only as of the date of this presentation. Jones Lang LaSalle expressly disclaims any obligation or undertaking to 

update or revise any forward-looking statements contained herein to reflect any change in Jones Lang LaSalle’s 

expectations or results, or any change in events.

© Jones Lang LaSalle IP, Inc. 2010. All rights reserved. No part of this publication may be reproduced by any 

means, whether graphically, electronically, mechanically or otherwise howsoever, including without limitation 

photocopying and recording on magnetic tape, or included in any information store and/or retrieval system 

without prior written permission of Jones Lang LaSalle IP, Inc.

Table of Contents

I.

Company Description

II.

Financial Overview

III.

Market Environment

IV.

Global Growth Strategy

V.

2011 Priorities

3

Company Description

Jones

Lang

Wootton

founded

in

London

1783

1968

1997

1999

LaSalle Partners founded, operating primarily in the  Americas

LaSalle Partners initial public offering

LaSalle

Partners

and

Jones

Lang

Wootton

merge

to

create

Jones

Lang

LaSalle

Integrated

global

platform

(NYSE

ticker

“JLL”)

Jones Lang LaSalle

Company history

Present

2008

The Staubach

Company and Jones Lang LaSalle combine operations

Largest merger in JLL history transforms U.S. local markets position

5

•

Integrated global services platform

•

Industry-leading research

•

Superior client relationship management

•

Consistent service delivery

•

Innovative solutions to maximize value

•

Strong brand

•

Investment grade balance sheet

Leasing

Capital

Markets

& Hotels

Property

& Facility

Mgmt.

Project &

Development

Services

Advisory

&

Consulting

Investment

Management

$2.9B

2010

Revenue

FY 2010

FY 2009

Americas

43%

42%

EMEA

25%

26%

Asia Pacific

23%

22%

LaSalle Investment Mgmt.

9%

10%

Consolidated

100%

100%

Property &

Facility

Management

24%

Project &

Development

Services        

12%

LaSalle

Inv.

Mgmt.

9%

Advisory

Consulting &

Other 11%

Leasing

34%

Capital

Markets

10%

United

States 44%

United

Kingdom  

11%

Continental

Europe        

15%

Greater China

5%

Developing &

Other Countries

10%

Japan  4%

India 4%

Australia  

7%

Jones Lang LaSalle

(1)

Excludes equity losses

2010 Revenue = $2.9 billion

…

And Global Market Reach

Diversified Service Lines…

•

Leading global market positions bolstered by more

than 30 mergers and acquisitions since 2005

•

Corporate Outsourcing drives growth and provides

annuity revenue

•

LaSalle

Investment

Management

-

a

premier

global

investment manager winning new mandates

•

Cash generating business model with investment

grade balance sheet

Revenue by Segment

(1)

Leading integrated services and investment management firm

6

33 acquisitions with full productivity revenue of $750 million

Market Share and Service Line Expansion

EMEA

Americas

Asia

Pacific

RL Davis

Leechiu

Creer

NSC

Sallmanns

Shore Industrial

Meghraj

Rogers Chapman

Littman Partnership

RSP Group

Area Zero

Hargreaves Goswell

Troostwijk

Makelaars

KHK Group

Camilli

& Veiel

GVA

Upstream

Tetris

Creevy

LLH Ltd.

Brune

Alkas

Kemper’s

Churston

Heard

Staubach

Spaulding & Slye

Zietsman

Klatskin

CRA

Standard Group

ECD

HIA

TCF

Strengthening

our platform

and

connecting

our people

Asset Realty Managers

•

Middle Market Corporate Solutions

•

Leasing

•

Capital Markets

•

Property Management

•

Project & Development Services

•

Retail

•

Industrial

•

Energy & Sustainability Services

•

Infrastructure

•

Hospital / Healthcare

Market share growth

Product and services expansion

7

$40.6 B

$49.7 B

$46.2 B

AUM

($ millions)

$39.9 B

2005 to 2010 Advisory Fees: 13% Compound Annual Growth Rate

•

Favors major institutional markets, serves international investors & supports public and private investing

-

More

than

300

institutional

clients

worldwide

-

investor

base

greater

than

90%

institutional

•

Core, value add, opportunistic private investing across major property types

•

Consistent

client

service

delivery

system

-

worldwide

•

Fully integrated global management team, compensation linked to growth in high-margin advisory revenue

•

Results:

Ability

to

weather

global

property

cycles,

annuity

revenue

growth

financial

stability,

achieved

scalable

operations

LaSalle Investment Management

A decade of accomplishments

$41.3 B

8

$29.8 B

Global Financial Crisis

Stabilized Advisory Fees

Building Advisory Fees in Healthy Markets

Built a global platform:

Expertise developed across:

Jones Lang LaSalle

More than 40,000 employees driving growth across service lines

LEED-accredited professionals

585

Property and corporate facilities

under management (s.f.)

1.8B

Investment assets

under management

$41B

Tenant representation

transactions (s.f.)

8,400 transactions

159M

Agency leasing transactions (s.f.)

19,400 transactions

323M

Annual energy savings for

clients

$125M

Return to Table of Contents

Global JLL Hotels Activity

$4.1B

9

Property & Facility

Management 24%

Project &

Development

Services 12%

LaSalle Inv.

Mgmt. 9%

Advisory

Consulting &

Other 11%

Leasing 34%

Capital

Markets 10%

Global JLL Capital Markets

Activity

$33B

Financial Overview

•

Record revenue of $2.9 billion, up 17% in local

currency over 2009

•

Global Leasing revenue reaches $1 billion; up by

more than 20% in all regions

•

Property & Facility Management currently 24% of

global revenue

•

LaSalle Investment Management raised $5 billion

in net capital commitments; AUM = $41 billion

•

Adjusted operating income margin of 9.1% vs.

6.6% in 2009

Demonstrating competitive strength

Consolidated Earnings Scorecard

2010 Highlights

11

FY 2010

FY 2009

Revenue

$2.9B

$2.5B

% change in local currency

17%

(5%)

Net Income

$154M

($4M)

Adjusted Net Income

(1)

$166M

$70M

Earnings Per Share

$3.48

($0.11)

Adjusted Earnings Per Share

(1)

$3.77

$1.75

Adjusted EBITDA

$336M

$238M

Adjusted EBITDA margin

11.5%

9.6%

Market Capitalization

$3.6B

$2.5B

(1)

Adjusted for restructuring and non-cash co-investment charges

2010 Accomplishments and Trends

Consolidated

–

Full-year revenue of more than $2.9 billion

–

Adjusted

operating

income

margin

of

9.1%,

adjusted

EBITDA

margin

of

11.5%

–

Leasing revenue increased 28%

–

Strong Capital Markets & Hotels

revenue growth

–

2010 high-impact hires provide

momentum into 2011

–

Larger markets 9-12 months into

cyclical recovery

–

Improved productivity in

transactional businesses

–

Retail, Corporate Solutions,

Tetris provide improved revenue

opportunities

–

Both U.S. and Regional multi-

national corporate wins

–

Over 50M sf

added to Property

Management annuity base

–

Second-best capital raising

year in LaSalle history: $5B

–

Nearly $3.2B capital invested

–

Focused on performance

Americas

EMEA

Asia Pacific

LaSalle

12

FY 2010 Revenue Performance

Note: Equity losses of $58.9M and $11.4M in 2009 and 2010, respectively, are included in segment results, however, are

excluded from Consolidated totals.

($ in millions; % change in local currency)

Americas

EMEA

Asia Pacific

Consolidated

17%

LaSalle

$1,031.6

$1,261.5

13

Asia Pacific

Americas

EMEA

Leasing

Capital Markets &

Hotels

Property & Facility

Management

Project &

Development Services

Advisory, Consulting

& Other

Total RES

Operating Revenue

$637.9

$84.1

$269.4

$158.9

$110.9

$1,261.2

28%

120%

19%

1%

1%

22%

$202.6

$141.2

$142.9

$115.0

$127.2

$728.9

22%

37%

8%

11%

7%

17%

$159.4

$80.4

$303.7

$63.5

$71.4

$678.4

34%

25%

6%

35%

11%

17%

$999.9

$305.7

$716.0

$337.4

$309.5

$2,668.5

27%

51%

11%

9%

5%

18%

Total RES

Revenue

Note: Segment and Consolidated Real Estate Services (“RES”) operating revenue exclude Equity earnings (losses).

Real Estate Services Revenue

($ in millions;

% change in local currency)

2010 Real Estate Services

14

FY 2010:      51% in local currency

(1)

$593

$781

$753

$557

$317

$203

($ in millions)

FY 2010:      27% in local currency

(1)

Full Year Comparison

(1)

Compared to FY 2009

Full Year Comparison

($ in millions)

Leasing

Capital Markets

$1,000

$306

Local and Regional Real Estate Services

Leasing and Capital Markets capturing incremental revenue

Asia Pacific

EMEA

Americas

15

Solid Cash Flows and Balance Sheet Position

•

Strong cash from earnings growth

•

Net debt repayment of $250 million

•

Paid first deferred Staubach obligation

of $76 million

(2)

•

Renewed and extended credit facility

-

Capacity increased to $1.1 billion,

previously $840 million

-

Maturity extended to September 2015

•

Investment grade ratings affirmed:

Standard & Poor’s:

BBB-

(Outlook: Stable)

Moody’s Investor Services:

Baa2 (Outlook: Stable)

Cash Flows

FY 2010

FY 2009

Cash from Earnings

$316

$244

Working Capital

68         

7

Cash from Operations

$384

$251

Primary Uses

Capital Expenses

(1)

(48)

(44)

Acquisitions & Deferred Payment Obligations

(130)

(27)

Co-Investment

(19)

(39)

Dividends

(9)

(8)

Net Cash Outflows

($206)

($118)

Net Share Activity & Other Financing

(23)

201

Net Bank Debt  (Borrowings) / Repayments

$155

$334

Balance Sheet

FY 2010

FY 2009

Cash

$252

$69

Short Term Borrowings

28             

23             

Credit Facility

198

175           

Net Bank Debt

($26)

$129

Deferred Business Obligations

299          

394

Total Net Debt

$273

$523

($ in millions)

(1)

Capital Expenditures for 2010 and 2009 net of tenant improvement allowances received were $46 million and $36 million, respectively

(2)

$78

million

due

less

$2

million

deferred

in

accordance

with

the

merger

agreement

2010 Highlights

16

Solid Cash Flows and Balance Sheet

($ in millions)

Return to Table of Contents

Positioned to drive growth and investment

2010 Free Cash Flow

(1)

17

(1)

Free cash flow calculated as EBITDA plus non-cash charges and change in working capital

Investment grade balance 

sheet

Effective tax management

(24% effective tax rate)

Disciplined CapEx spending

$440

Opportunity to grow and

invest in the business

Market Environment

Increasingly synchronized recovery

Capital Markets Leading Real Estate Fundamentals

Americas

EMEA

Asia Pacific

As of Q4 2010

Capital Values

Leasing Fundamentals

The Jones Lang LaSalle Property Clocks

SM

19

Capital Value

growth slowing

Capital Value

growth

accelerating

Capital Value

bottoming out

Capital Value

falling

Hong Kong,

London,

Sao Paulo

Washington DC

Shanghai

Dallas,

Mumbai, Seoul

Sydney, Tokyo

Singapore

Brussels

Moscow

Berlin, Paris, Stockholm

Amsterdam,

Milan

New York

San Francisco

Chicago, Toronto

Detroit

Beijing

Singapore,

Washington DC

Hong Kong

Rental Value

growth slowing

Rental Value

growth

accelerating

Rental Values

bottoming out

Rental Values

falling

Paris, Tokyo

Shanghai, Sydney

Chicago,

Seoul

Amsterdam, New York

Berlin, Mumbai, San Francisco

London

Brussels

Toronto

Moscow, Stockholm

Detroit

Dallas

Sao Paulo

Beijing

Milan

Based

on

rents

for

Grade

A

space

in

CBD

or

equivalent.

In

local

currency.

Source: Jones Lang LaSalle, First Quarter 2011 Global Market Perspective

Americas

Europe

Asia Pacific

2010 rental change

Prime Offices

20

% change

-35

-30

-25

-20

-15

-10

-5

0

5

10

15

20

25

30

35

Dubai

Madrid

Los Angeles

Frankfurt

Tokyo

Amsterdam

New York

Chicago

Mumbai

Sydney

Toronto

Paris

Washington DC

San Francisco

Brussels

London

Shanghai

Sao Paulo

Moscow

Singapore

Hong Kong

Global Markets Perspective

Prime offices –

projected value change in 2011

*New York –

Midtown, London –

West End. Nominal rates in local currency. 

Source: Jones Lang LaSalle, First Quarter 2011 Global Market Perspective

Capital Values

Rental Values

Return to Table of Contents

+ 10-20%

+ 5-10%

+ 0-5%

-

0-5%

-

5-10%

+ 20%

-

10-20%

Click here

to see the JLL 2011 Real Estate Outlook, including our Top 10 trends for 2011

21

Shanghai, Singapore, Tokyo, Moscow,

Sao Paulo, New York*, San Francisco,

Toronto, Washington DC

London*, Paris

Sydney

Amsterdam, Brussels, Frankfurt

Chicago, Los Angeles, Mumbai

Madrid

Shanghai, Singapore, Tokyo, New York*,

San Francisco, Sao Paulo,  Moscow,

Paris, Toronto, Washington DC

London*

Chicago, Los Angeles

Amsterdam, Brussels

Frankfurt, Mumbai, Sydney

Madrid

Hong Kong

Dubai

Dubai

Hong Kong

Global Growth Strategy

Jones Lang LaSalle

Global strategy for renewed growth

G5

G1

G2

G4

G3

Build our leading local and regional market positions

Grow our leading positions in Corporate Solutions

Capture

the

leading

share

of

global

capital

flows

for

investment

sales

Strengthen LaSalle Investment Management’s leadership position

Connections: Differentiate by connecting across the firm, and with clients

23

Raleigh/Durham

Denver

Philadelphia

Boston CBD

Atlanta

New York

Houston

Northern

New Jersey

Southern

California

Chicago CBD

DC/Northern VA

Chicago Suburbs

Orange County

Phoenix

Charlotte

San Diego

Suburban

Maryland

Boston

Suburbs/

Cambridge

Dallas / Ft.

Worth

Ft Lauderdale

Miami

Merger Impact: Market Leadership

•

Reinforced JLL’s position as the high quality brand for occupier clients

•

Significantly improved our market position; 990 brokers in the field today; up more than 200% over 2007

•

Attained a market leading tenant representation position in 22 markets (vs. 6 markets in 2007)

•

Built

Industrial

market

presence;

220

professional

brokers

in

40

markets;

#3

or

better

in

top

8

markets

Local and Regional Services

G1

Staubach merger transforms U.S. local markets position

2009

As of Year End ‘09; Market share based on SF of completed deals

Source: JLL Research & CoStar

24

2007

Market Leader –

#1-2-3

Lagging –

#4 or below

Americas Leasing revenue growth of 29% in 2010

Southern

California

(excluding San

Diego)

Philadelphia

Boston

Atlanta

Northern

New Jersey

Chicago

Raleigh/Durham

DC Metro

San Francisco

Silicon Valley

Charlotte

Dallas / Ft.

Worth

New York

Silicon Valley

San Francisco

Local and Regional Services

G1

European retail acquisitions providing scale in key markets

25

•

Managing 81 million sq ft of retail assets

•

Leasing 75 million sq ft of space in 200 shopping centers

•

Valuation of 450 shopping centres of 97 million sq ft

•

More than 1,000 dedicated retail staff across Europe

•

EMEA’s

only dedicated regional retail capital markets

team, with more than 80 professionals working in more

than 12 markets

Fully integrated approach

maximizing client value

Over €1.3bn

in Multi Portfolio

acquisition

Over €513m

in 2 acquisitions

3.6m sq ft

11 Shopping Centres

Over €2.5 bn

disposal advice

EMEA Retail revenue = approximately 20% of Total EMEA revenue in

2010

Select EMEA Retail highlights:

Approx.

€2.5 bn

valued quarterly

Leading position with unique expertise across services & geographies

•

Accelerate new client wins and innovate for existing clients to broaden relationship

-

60 new wins, 33 expansions and 32 renewals in 2010

-

More than 700 million sq ft under management as of December 31, 2010; 18% compound

annual growth rate over the past 5 years

•

Target new industry segments for continued market share growth

-

Replicate Financial/Pharma/IT success

Global Corporate Solutions

G2

2010 Highlights

•

Property & Facility Management revenue up

11% in local currency vs. 2009

•

Project & Development Services revenue up 9%

vs. 2009; corporates

starting to re-open capital

expenditure budgets

26

Integrated

Facility

Management

Transaction

Management

Project

Management

Lease

Administration

Mobile

Engineering

Energy &

Sustainable

Services

Strategic

Consulting

Corporate

Finance /

CMG

Client

Relationship

Management

Corporate

Retail

Services

Asia Pacific gaining share with local and multinational corporates

Global Corporate Solutions

G2

27

Alcatel-Lucent

Philips

Sanyo

Wipro

Infosys

Sony

Telestra

AFP

Centrelink

Fonterra

Citi

Merck

Leasing

Receivership

Services

Development &

Construction

Management

Property & Asset

Management

Loan

Restructuring &

Debt Advisory

Research on

Local Martkets

Planning &

Developing

Strategic

Review

Investment

Sales

Leasing

Receivership

Services

Development &

Construction

Management

Property & Asset

Management

Loan

Restructuring &

Debt Advisory

Research on

Local Martkets

Planning &

Developing

Strategic

Review

Leasing

Receivership

Services

Development &

Construction

Management

Property & Asset

Management

Loan

Restructuring &

Debt Advisory

Research on

Local Martkets

Planning &

Developing

Strategic

Review

Leasing

Receivership

Services

Development &

Construction

Management

Property & Asset

Management

Loan

Restructuring &

Debt Advisory

Research on

Local Martkets

Planning &

Developing

Strategic

Review

Investment

Sales

Connecting

clients to

innovative

solutions

Connecting

clients to

innovative

solutions

2010 Highlights

Capture Global Capital Flows for Investment Sales

Positioned to leverage leading share as markets recover

G3

Source: Jones Lang LaSalle

•

Volumes continuing cyclical recovery

•

Demand high for core products;

supply remains constrained

•

Global Hotels business gaining

momentum; captured $4.1B of $24.3B

total deal volume in 2010

2011 volumes expected to increase a further 20-25%

+40%

+10-15%

+15-20%

Direct Commercial Real Estate Investment, 2005-2011

28

For

more

information

on

Jones

Lang

LaSalle

Hotels,

visit

www.joneslanglasallehotels.com.

•

$5 billion

of

net

new

capital

raised, 2

nd

best

year

in

LaSalle

history

•

More than $3 billion invested worldwide in 2010

•

Healthy margins generated from Advisory Fees

A premier global investment manager

29

2010 Highlights

Product

Assets Under

Management

($ in billions)

Average

Performance

Private Equity

U.K.

$11.3

Above benchmark

Continental Europe

$4.2

Return: +1x equity

North America

$9.8

Above benchmark

Asia Pacific

$7.3

Return: +1x equity

Public Securities

$8.7

Above benchmark

Total Q4 2010 AUM

$41.3 B

AUM by Fund type

Note: AUM data reported on a one-quarter lag

($ in billions)

LaSalle Investment Management

G4

Connecting

JLL to add

value for

clients

JLL

Brand

Market

Knowledge &

Experience

Thought

Leadership &

Research

Colleagues

Sharing

Relationships

Extensive

Capabilities

& Products

Client First

www.joneslanglasalle.com

G5

Technology

JLL OneView

Connecting Across the Firm and With Clients

Technology enabling value added connections

30

Energy and Sustainability Services

Energy conservation and cost savings a growing priority

“I chose Ray Quartararo

and Jones

Lang LaSalle because of our

successful history together taking on

and figuring out difficult projects and

the company’s deep sustainability

expertise and track record.”

--Anthony E. Malkin, Building Owner,

Empire State Building Company 

•

Nearly 600 LEED Accredited Professionals

•

116 LEED projects globally, including

•

1

LEED Platinum high-rise; One Bryant Park, New York

•

1

LEED building registered in India; Sohrabji

Godrej

Green

•

1

LEED-EB O&M multi-tenant building in the U.S.; 550 W.

Washington, Chicago

•

Documented over $125M in energy savings for clients

•

Reduced 563,000 tons of greenhouse gas emissions

•

Equivalent to the emissions of nearly 70 million gallons of

gasoline consumed

Making an Impact

G5

Return to Table of Contents

31

st

st

st

2011 Priorites

2011 Priorities

Enhance margin and strengthen income quality

Note: Adjusted Operating Income excludes restructuring charges, adjusted EBITDA excludes restructuring charges and non-cash

co-investment charges.  2007 results have been adjusted to exclude significant advisory fees from one large corporate portfolio.

Margin Performance

33

•

Leverage strengthening local markets positions

•

Continuing growing scale in Corporate Solutions

•

Maintain LaSalle Investment Management’s stable advisory fee margins;

enhance with transaction and incentive fees

•

Grow margin

to medium term target of 12%

Historic Adjusted Operating Income Margin

Historic Adjusted EBITDA Margin

2011 Priorities

Capture consolidation opportunities in the marketplace

34

Opportunity Target

Secure market leadership –

Goal to be #1, #2 or

#3 in targeted local and regional market services

Provide specialized technical services to

Corporate Solutions outsourcing clients

Capture recovering cross-border capital flows and

strengthen Hotels market

Maximize opportunities created by financial

regulatory legislation and financial crisis fallout

Differentiate by connecting across the firm, and

with clients

Financial Objective

•

Major growth to

shareholders

•

Accretive within

12-18 months

•

Maintain

investment grade

strength

Strategy

G1

G2

G3

G4

G5

•

Approximately 185

offices in more than 60 countries worldwide

•

Research-driven global investment management business

•

Client demands for global expertise satisfied by few providers

Jones Lang LaSalle

Setting the industry standard for real estate service companies

•

Premier and expanding position in the corporate outsourcing space

•

Expand share in local markets

•

Leading global investment management business

•

Diversified revenues by service line and geography

•

Solid balance sheet with investment-grade ratings

•

Strong global platform positioned for opportunity & market recovery

Return to Table of Contents

Premier Leading Global Platform

Positioned for Short and Long Term Success

Solid Financial Strength and Position

35

Appendix

FY 2010

FY 2009

GAAP net income (loss)

$     153.5

$       (4.1)

Shares (in 000's)

44,084

38,543

GAAP earnings (loss) per share

$      3.48

$     (0.11)

GAAP net income (loss)

$     153.5

$       (4.1)

Restructuring, net of tax

4.9

35.6

Non-cash co-investment charges, net of tax

7.9

38.5

Adjusted net income

$     166.3

$      70.0

Shares (in 000's)

44,084

40,106

Adjusted earnings per share

$       3.77

$       1.75

($ in millions)

Reconciliation of GAAP Net Income (Loss) to

Adjusted Net Income

Note: Basic shares outstanding are used in the calculation of GAAP EPS for the twelve months ending December 31, 2009, as the use of dilutive shares outstanding

would cause that EPS calculation to be anti-dilutive.

37

Return to Consolidated Earnings Scorecard

Return to Table of Contents

($ in millions)

Reconciliation of GAAP Net Income (Loss) to

EBITDA and Adjusted EBITDA

38

FY 2010

FY 2009

Net income (loss)

$     153.5

Interest expense, net of interest income

45.8

55.0

Provision (benefit) for income taxes

49.0

5.7

Depreciation and amortization

71.6

83.3

EBITDA

$     319.9

$     139.9

Non-cash co-investment charges

10.4

51.3

Restructuring

6.4

47.4

Adjusted EBITDA

$     336.7

$     238.6

Return to Consolidated Earnings Scorecard

Return to Table of Contents

$      (4.1)

FY 2010

FY 2009

Net Income (Loss)

$154

($4)

Interest Expense, net of interest income

46

55

Provision (benefit) for income taxes

49

6

Depreciation and amortization

72

83

EBITDA

$321

$140

Change in working capital

68

7

Deferred Compensation Amortization and

non-cash co-investment charges

51

97

Free Cash Flow

$440

$244

($ in millions)

Reconciliation of GAAP Net Income (Loss) to

EBITDA and Free Cash Flows

Return to Table of Contents

39

Return to Free Cash Flow Chart