#1Brookfield Asset Management INVESTOR PRESENTATION JUNE 2023 Brookfield#2Brookfield at a Glance We are one of the largest and fastest growing alternative asset managers in the world, distinguished by a 100+ year history of owning and operating real assets and businesses that provide essential services. ✓ Over $825B of AUM / $432B of fee-bearing capital ✓ Operating in 30 countries across five continents Brookfield ✓ ~2,500 investment and asset management professionals supported by ~195,000 operating employees ✓ More than 2,000 institutional clients across the globe Note: See Notice to Recipients and Endnotes, including Endnotes 1 and 2. 2#3Welcome to the NEW Brookfield Asset Management Brookfield 3#4Newest Publicly-Traded, Pure-Play Global Alternative Asset Manager Brookfield For the first time, investors have the opportunity to own Brookfield Asset Management on a pure-play basis In December 2022, distributed 25% of asset management business as Brookfield Asset Management Ltd (NYSE/TSX: BAM) Remaining 75% owned by Brookfield Corporation (NYSE/TSX: BN) Separating BAM from BN provides several important benefits: Compares more directly to alternative asset management peers Pure-play business is simpler to understand and easier to value Creates opportunity to attract new investors, as the combined business has historically been under-owned and under- followed by alternative asset management investors and research analysts Brookfield Asset Management Ltd. Brookfield Corporation 25% Ownership 75% Ownership Brookfield Asset Management¹ ~$54B Market Cap 2 1,635M Common Shares Presentation metrics refer to Brookfield Asset Management at 100% This includes results for our asset management business, being Brookfield Asset Management ULC and its subsidiaries, including its share of the asset management activities of Oaktree Capital Management ("Oaktree"). 1. 2. Based on BAM closing price on May 9, 2023 of $33.29 per share.#5BAM Operates With Industry-Leading Metrics Brookfield -100% Fee-Related Earnings as a % of DE 83% Fee-Bearing Capital Is Long- Term / Permanent 55-60% Fee-Related Earnings Margins 15-20% Fee-Related Earnings Growth Targets 90%+ Dividend Payout Ratio No Debt Asset-Light Balance Sheet 5#6Built on a 100-Year Foundation Brookfield While the stock is new, our market leadership, commitment to clients and value- creation approach remain unchanged Experience Heritage and investing expertise dates back over 100 years, and built one of the world's largest alternative asset managers over the past 25 years Scale Our scale makes us a partner of choice, as an increasing amount of capital flows to the largest, multi-asset class managers in a period of industry consolidation Essential Assets Our business is well-positioned around the secular tailwinds around renewable power & transition, infrastructure, real estate, and credit The Brookfield Ecosystem We have $175 billion of discretionary capital across the broader Brookfield organization, which can be invested in and alongside our funds Diversified Our businesses are designed leverage their operating expertise to find value in many market environments and across a variety of sectors Relationships We have built longstanding partnerships with many of our investors based on our commitment to deliver superior investment performance and provide the highest level of client service 60#7Brookfield Global Presence As a large-scale investor with on-ground operations in key regions around the world, we provide access to attractive investment opportunities globally North America $501 B South America $54B Europe & Middle East $163B Note: Figures represent assets under management. See Notice to Recipients and Endnotes, including Endnote 1. Asia-Pacific $116B 7#8We Invest in the Backbone of the Global Economy We invest in high-quality, essential assets and businesses that form the backbone of the global economy $432B Fee-bearing Capital ~195,000 ~1,220 Brookfield Operating Employees Investment Professionals 8581 8581 $53B Renewable Power & Transition $93B Infrastructure Note: See Notice to Recipients and Endnotes, including Endnote 3. $39B $98B Private Equity Real Estate $149B Credit & Other 8#9Positioned for Strong Growth Brookfield 9#10Why are Investors Choosing to Invest Their Growing Capital Base in Alternative Assets? 0.5-4.25% 7-8% 11-12% 1 3 2 Bond Yields Target Public Private Credit Equity Returns 12-20% Target Real Assets and Private Equity 3 Brookfield Excess returns ✓ Diversification ✓ Less volatility ✓ Predictable cash flows Notes: 1. 2. 3. As of March 31, 2023, U.S. 10-year treasury yield range over the past 10 years. Source: Board of Governors of the Federal Reserve System (US) As of March 31, 2023, annualized total return of SPX and DJI over the past 10 years, compounded with dividends reinvested. Source: CapitallQ As of March 31, 2023, annualized target total return over the past 10 years for assets managed by the largest alternative asset managers, compounded with dividends reinvested. 10#11Investors Worldwide Are Turning to Alternative Assets As institutional investors increase their allocations to alternatives, the overall industry saw rapid expansion and is estimated to grow to $23 trillion by 2026 95% Institutional Allocation to Alternative Assets¹ 70% 40% 30% 60% $4.0 5% 2000 2021 2030 2010 Brookfield Alternatives AUM2 ($ in Trillions) $23.2 Over 5x Growth $4.6 $5.5 $6.3 $7.6 $7.2 $6.8 $8.5 $9.0 $10.1 $13.3 $11.7 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2026 1. Source: Willis Towers Watson Global Pension Assets Study, 2020. 2030 allocation based on Brookfield estimates. 2. Source: Preqin. Note: 2022-2026 figures are Preqin's estimates. 11#12Brookfield Positioned Around Massive Global Secular Tailwinds Brookfield Trillions of dollars will need to be invested as the world adapts to paradigm shifts, and our assets sit at the epicenter of many of these trends ecarbonization Brookfield Deglobalization $53B $149B $432B $93B Fee-Bearing Capital $39B $98B Digitalization Renewable Power & Transition Infrastructure Private Equity Real Estate Credit & Other Note: See Notice to Recipients and Endnotes 12#13An Integrated Approach to Creating Sustainable Value We believe sound ESG practices are key to building resilient businesses and creating long-term value for our investors Brookfield Manage our investments with integrity, guided by our long-standing principles Assess climate impact from underwriting through exit 鈴 Align with industry- leading ESG frameworks (NZAM, TCFD, PRI, SASB) 8-8 Remain committed to a diverse and inclusive workplace 13#14Superior Investment Performance Drives Inflows Our strategy enables us to deliver strong returns for our clients across our businesses. Strong returns drive future growth. Brookfield As at Mar. 31, 2023 ($ billions) Fund1 Infrastructure Fund History Vintage Gross IRR Net IRR 13 years 5 15% 13% Renewable Power & Transition² 13 years 6 13% 9% Private Equity³ 22 years CO 6 28% 22% Real Estate 17 years 7 23% 19% Credit 35 years 16 22% 16% Note: Returns on current Brookfield private funds are on existing carry eligible funds, excluding open-ended funds and funds categorized as "Other" in Brookfield's Q1 2023 Supplemental Information available at brookfield.com. See Notice to Recipients and Endnotes, including Endnote 8. 1. Reflects performance of flagship funds and similar strategies. 2. 3. Renewable power & transition represents composite performance for renewable power assets held within the BIF funds and BGTF. Private Equity figures include BCP I through VI and exclude CCC. Gross and Net IRR including CCC would reflect 27% and 22%, respectively. 14#15Significant Available Liquidity to Make Additional Investments Dislocation in financial markets has historically created some of the most attractive risk-adjusted investment opportunities for those investors with dry powder to put to work $16B $16B $79B Uncalled Commitments $17B $20B $10B ■Renewable Power & Transition ■Infrastructure ■Private Equity ■Real estate ■Credit & Insurance Solutions Note: See Notice to Recipients and Endnotes, including Endnote 7. $37B Committed Capital Not Current Earning Fees $370M Future Fee-Earning Revenue Brookfield 15#16Strong Portfolio Growth Brookfield Raised a record $98B of capital over the last twelve months, on track to hit our target of $1T of fee-bearing capital in five years Fee-Bearing Capital (FBC) Long-Term and Perpetual Capital (as at 3/31/23) $126B ~24% CAGR $973B $432B 2017 Q1-2023 20271 Note: See Notice to Recipients and Endnotes. 1. 2. Strategic target announced at 2022 Investor Day, represents June 30, 2027. Permanent Capital Vehicles include BIP, BEP, BBU, BPG and our insurance platform. 17% 6% 25% 52% ■Long-Term Private Funds ■Permanent Capital Vehicles ■Perpetual Strategies Liquid Strategies 83% of FBC Is Long Dated or Perpetual 16#17...Has Driven Strong Financial Performance Brookfield Growth in FBC directly impacts the growth of our fee-related revenues and fee- related earnings, and strong fund performance creates additional earnings upside through carried interest Fee-Related Earnings (FRE) Carried Interest (2027-2032) $896M 2017 ~18% CAGR $4,370M $2,162M Q1-2023 20271 Note: See Notice to Recipients and Endnotes, including Endnotes 3 and 5. Strategic target announced at 2022 Investor Day, represents June 30, 2027. Permanent Capital Vehicles include BIP, BEP, BBU, BPG and our insurance platform. 1. 2. $10B Estimated Cumulative Gross Carried Interest to Brookfield Asset Manager1,2 17#18Conclusion Brookfield Asset Management...the best is yet to come. ✓ Brookfield Embedded Organic Growth Leader in a rapidly growing industry Highly differentiated strategy positioned at the epicenter of large global secular trends. Proven track-record of successfully delivering above market-risk adjusted returns for clients Optionality for Inorganic Growth Capital gravitating towards larger, more diverse managers creates consolidation advantages New stock (BAM) with simpler business model and industry leading metrics creates valuable currency 18#19Appendix Brookfield 19#20A Range of Alternative Investment Strategies Brookfield Our strategies across debt and equities offer clients multiple access points along the risk-return spectrum Target Return Debt Strategies Mezzanine Core Illustrative Risk-return Profile U.S. Real Estate Debt Junior, Senior Mezzanine Global Core Infrastructure Infrastructure Debt Global, Europe Equity Strategies Core Plus Value Add Real Estate Secondaries Transition Investments Infrastructure Sponsor Solutions Global Core-Plus Infrastructure Core/Core-Plus Real Estate U.S., Australia, Europe Opportunistic Technology Growth Global Private Equity Special Investments Global Opportunistic Real Estate Risk Renewable Power Infrastructure Private Equity Real Estate 20 20#21Brookfield Renewable Power and Transition Brookfield is one of the most impactful renewable power and decarbonization investors, owners and operators $77B Assets Under Management $53B Fee-Bearing Capital 70 Investment Professionals Overview • • Our Renewable Power and Transition business complements global goals of net-zero emissions, low-cost energy and energy security Renewable Power and Transition should benefit as growing global demand for low-carbon energy will require substantial continued investment. Our large footprint, extensive experience and substantial pipeline give us unique industry knowledge and differentiate us as a strategic capital partner Our investment focus is to provide clients with exposure to critical sources of clean energy and energy transition with attractive risk-adjusted returns ه Hydro Asset Types DG, Storage & Sustainable Solutions Wind Solar Products Long-Term Private Funds Global Renewable Power and Closed-end flagship fund series focused on global Transition transition Permanent Capital Vehicles Brookfield Renewable Partners ("BEP"/"BEPC") The largest, publicly traded renewable power and sustainable solutions platforms, providing clients a liquid and diversified portfolio of decarbonization investments Note: See Notice to Recipients and Endnotes, including Endnotes 1 and 3. 21#22Brookfield Infrastructure Brookfield is one of the world's largest infrastructure investors, owners and operators Overview $161B Assets Under Management 140 $93B Fee-Bearing Capital Investment Professionals Asset Types • Our infrastructure business is ideally positioned at the epicenter of the global secular trends of deglobalization, decarbonization and digitization • Infrastructure should benefit as these large-scale changes will require trillions of dollars of investment and Brookfield's deep experience in this area provides significant competitive advantage in attracting future growth capital • Our investment focus is to provide clients with diversified exposure to high-quality businesses that benefit from significant barriers to entry and deliver essential goods and services. Infrastructure investments generate stable, inflation-protected cash flows, high margins and strong growth prospects Transport Utilities Data Midstream Products Long-Term Private Funds Infrastructure Core Plus Infrastructure Debt Closed-end flagship funds series focused on global infrastructure opportunities Debt fund series focused on mezzanine debt investments Permanent Capital Vehicles Brookfield Infrastructure Partners ("BIP"/"BIPC") The largest, pure-play, publicly traded global infrastructure platforms, providing investors access to a liquid and diversified portfolio of best-in-class infrastructure businesses Private Perpetual Strategies Perpetual Core Infrastructure Private fund investing in core infrastructure in developed markets Note: See Notice to Recipients and Endnotes, including Endnotes 1 and 3. 22 22#23Private Equity Brookfield is one of the most experienced private equity investors $139B Assets Under Management 190 $39B Fee-Bearing Capital Investment Professionals Overview Our Private Equity platform seeks to invest in high-quality businesses that provide essential products and services and are resilient throughout market cycles • Private Equity should benefit as our overall global footprint expands, creating a proprietary pipeline of opportunities that are adjacent to our managed asset portfolio • Our investment focus is to find opportunities on a value basis where we can leverage our operational expertise, knowledge and relationships to enhance business performance and drive free cash flow generation Asset Types Brookfield Industrials Infrastructure Services ♡ Business Services Technology Services Healthcare Services Products Long-Term Private Funds Private Equity Opportunistic Closed-end flagship fund series focused on opportunistic private equity Permanent Capital Strategies Brookfield Business Partners ("BBU"/"BBUC") Publicly traded business services and industrial platform focused on owning and operating high quality providers of essential products and services Special Investments Growth Focused on providing flexible capital to businesses through highly structured capital solutions Focused on providing strategic capital to high-growth technology companies with large and resilient end markets Note: See Notice to Recipients and Endnotes, including Endnotes 1 and 3. 23#24Real Estate Brookfield Brookfield is one of the largest real estate investors with a diversified portfolio in the world's most well-established markets Overview $270B Assets Under Management 340 Investment Professionals $98B Fee-Bearing Capital Asset Types • Our Real Estate business seeks to build a diversified portfolio across property sectors We have built permanent operating platforms in our target markets, allowing us to execute on opportunities across the globe Our real estate strategies offer investors multiple access points along the risk-return spectrum Products A Housing Logistics, Storage & NNN Hospitality Office Retail Science & Innovation Long-Term Private Funds Real Estate Opportunistic Real Estate Debt Real Estate Secondaries Closed-end flagship fund series focused on global opportunistic real estate Focused on originating, investing in and actively managing a portfolio consisting of mezzanine loans and junior participations in first mortgage loans Focused on providing liquidity solutions for real estate GPs and LPs by accessing high-quality properties at a discount to long-term intrinsic value Permanent Capital Vehicles BPG Privately held, highly diversified global portfolio comprised of the highest quality office and retail complexes, managed on behalf of Brookfield Corporation Private Perpetual Strategies Perpetual Core Plus Real Estate Senior Mezzanine Real Estate Debt Brookfield REIT Focused on well-located properties in major U.S. markets within logistics, multifamily, office, alternative and other sectors, with complementary regionally focused strategies in Australia and Europe Focused on investments in real estate finance that are (i) senior to traditional equity and/or junior mezzanine debt and (ii) subordinate to senior debt A public, non-listed perpetual life vehicle that invests in income-producing real estate property and real estate-related debt and securities Note: See Notice to Recipients and Endnotes, including Endnotes 1 and 3. 24#25Credit and Other Brookfield Brookfield's partnership with Oaktree has established it as one the largest and fastest-growing alternative credit managers Overview $187B Assets Under Management $149B Fee-Bearing Capital 460 Investment Professionals¹ Asset Types $ Private Equity Our Credit business offers clients access to one of the most comprehensive global alternative credit platforms We primarily pursue our Credit strategy through our partnership with Oaktree, one of the premier credit franchises globally with more than three decades of experience investing across the capital structure - As of March 31, 2023 we had a 64% investment in Oaktree Oaktree's credit products include distress-oriented strategies such as Opportunistic Credit, liquid credit strategies such as Global Credit and direct lending strategies such as Global Private Debt Senior and Subordinated Private Debt • Our Insurance Solutions business manages policyholder capital and deploys this across liquid credit strategies, direct loans and private funds Real Assets Publicly Listed Equity and Debt Products Long-Term Private Funds Opportunistic Credit Global Private Debt Closed-end flagship fund series focused on opportunistic credit Spans the private credit universe, lending on a senior or junior basis to a wide variety of independent or private equity owned companies Permanent Capital Vehicles Oaktree Specialty Lending Corporation ("OČSL") Insurance Capital A publicly traded business development company that provides investors access to Oaktree's lending credit platform Manages insurance capital for policyholders through reinsurance agreements and directly through policies Note: See Notice to Recipients and Endnotes, including Endnotes 1 and 3. Includes Credit, Insurance Solutions, Oaktree and other professionals. 1. 25#26Brookfield Brookfield Listed Affiliates Approximately 75% of Brookfield's permanent capital is invested in our public affiliates, creating strong alignment of interest with our investors 1. Brookfield Infrastructure Partners (NYSE: BIP or BIPC) • • • Invests across utilities, transport, midstream and data Targets 12-15% total returns High-quality cash flows; ~90% of cash flows regulated or contracted Current distribution yield of -5%1 Brookfield Renewable Partners • (NYSE: BEP or BEPC) • • • ~50% of generation from hydro, complemented by wind, utility-scale solar, distributed energy & sustainable solutions Targets long-term total returns of 12-15% ~92% of 2023 generation is contracted Current distribution yield of -5%1 Brookfield Business Partners (NYSE: BBU or BBUC) Invests in business services and industrials companies focused on long-term capital appreciation Targets long-term total returns of 15-20% Acquires high-quality businesses and applies its global investing and operational expertise to create value, with a focus on profitability, sustainable margins and durable cash flows Based on the closing price on either NASDAQ or NYSE as of March 31, 2023. 26#27Endnotes Brookfield 1. 2. 23 4. 5. 6. 7. 781 8. Asset under management ("AUM") refers to the total fair value of assets managed, calculated as follows: investments that Brookfield, which includes Brookfield Corporation, the asset management business, being Brookfield Asset Management Ltd., Brookfield Asset Management ULC or their affiliates, either: consolidates for accounting purposes (generally, investments in respect of which Brookfield has a significant economic interest and unilaterally directs day-to-day operating, investing and financing activities), or does not consolidate for accounting purposes but over which Brookfield has significant influence by virtue of one or more attributes (e.g., being the largest investor in the investment, having the largest representation on the investment's governance body, being the primary manager and/or operator of the investment, and/or having other significant influence attributes), are calculated at 100% of the total fair value of the investment taking into account its full capital structure equity and debt - on a gross asset value basis, even if Brookfield does not own 100% of the investment, with the exception of investments held through our perpetual funds, which are calculated at its proportionate economic share of the investment's net asset value. - all other investments are calculated at Brookfield's proportionate economic share of the total fair value of the investment taking into account its full capital structure - equity and debt - on a gross asset value basis, with the exception of investments held through our perpetual funds, which are calculated at Brookfield's proportionate economic share of the investment's net asset value. Our methodology for determining AUM differs from the methodology that is employed by other alternative asset managers as well as the methodology for calculating regulatory AUM that is prescribed for certain regulatory filings (e.g., Form ADV and Form PF). Institutional investors include total institutional investors across Brookfield and Oaktree private fund strategies. Fee-bearing capital represents the capital committed, pledged or invested in the perpetual affiliates, private funds and liquid strategies that we manage which entitles us to earn fee revenues. Fee-bearing capital includes both called ("invested") and uncalled ("pledged" or "committed") amounts. When reconciling period amounts, we utilize the following definitions: (a) Inflows include capital commitments and contributions to our private and liquid strategies funds and equity issuances in our perpetual affiliates. (b) Outflows represent distributions and redemptions of capital from within the liquid strategies capital. (c) Distributions represent quarterly distributions from perpetual affiliates as well as returns of committed capital (excluding market valuation adjustments), redemptions and expiry of uncalled commitments within our private funds. (d) Market activity includes gains (losses) on portfolio investments, perpetual affiliates and liquid strategies based on market prices. (e) Other include changes in net non-recourse debt included in the determination of perpetual affiliate capitalization and the impact of foreign exchange fluctuations on non U.S. dollar commitments. Distributable earnings ("DE") is a non-GAAP measure that provides insight into earnings that are available for distribution to common shareholders or to be reinvested into the business. It is calculated as the sum of fee-related earnings and realized carried interest; returns from our corporate cash and financial assets; cash taxes; excluding equity- based compensation costs. Fee-related earnings is comprised of fee revenues less direct costs associated with earning those fees, which include employee expenses and professional fees as well as business related technology costs, other shared services and taxes. We use this measure to provide additional insight into the operating profitability of our asset management activities. Carried interest is a contractual arrangement whereby we receive a fixed percentage of investment gains generated within a private fund provided that the investors receive a predetermined minimum return. Carried interest is typically paid towards the end of the life of a fund after the capital has been returned to investors and may be subject to "clawback" until all investments have been monetized and minimum investment returns are sufficiently assured. This is referred to as realized carried interest. "Annualized target carried interest" represents the annualized carried interest we would earn on third-party private fund capital subject to carried interest based on the assumption that we achieve the targeted returns on the private funds. It is determined by multiplying the target gross return of a fund by the percentage carried interest and by the amount of third-party capital, and discounted by a utilization factor representing the average invested capital over the fund life. Fee revenues include base management fees, incentive distributions, performance fees and transaction fees excluding carried interest. Internal rate of return ("IRR") is the annualized compounded rate of return of the fund, calculated since initial investment date. 9. Base management fees are determined by contractual arrangements, are typically equal to a percentage of fee-bearing capital and are accrued quarterly. Private fund base fees are typically earned on fee-bearing capital from third-party investors only and are earned on invested and/or uninvested fund capital, depending on the stage of the fund life. Perpetual affiliate base fees are earned on the total capitalization or net asset value of our perpetual affiliates, which includes our investment. Base fees for BEP include a quarterly fixed fee amount of $5 million, with additional fees of 1.25% on the increase in capitalization above their initial capitalization of $8 billion. Base fees for BIP and BBU are 1.25% of total capitalization. Base fees for BPG are 1.05% of net asset value, excluding its interests in private funds and investments which were held directly by BAM prior to the BPY privatization. Perpetual affiliate capitalization as at March 31, 2023, was as follows: BEP/BEPC - $24 billion; BIP/BIPC - $33 billion; BBU/BBUC - $7 billion; and BPG - $19 billion. 222 27#28Notice to Readers Brookfield Brookfield Asset Management Ltd. is not making any offer or invitation of any kind by communication of this Investor Presentation and under no circumstance is it to be construed as a prospectus or an advertisement. Unless otherwise specified, the information and statements presented in this presentation reflect balances on a 100% basis for Brookfield Asset Management Ltd., Brookfield Asset Management ULC and its subsidiaries ("our asset management business"). Information regarding Brookfield Asset Management Ltd. should be read together with the information regarding Brookfield Asset Management ULC, in which we hold a 25% interest. This Investor Presentation contains "forward-looking information" within the meaning of Canadian provincial securities laws and "forward-looking statements," within the meaning of certain securities laws including Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, "safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. We may make such statements in this profile, in other filings with Canadian regulators and the Securities Exchange Commission or in other communications. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions and include statements which reflect management's expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of our asset management business, capital committed to our funds, our liquidity and ability to access and raise capital, our ability to capitalize on investment opportunities, the potential growth of our asset management business and the related revenue streams therefrom, the prospects for increasing our cash flow from or continued achievement of targeted returns on our investments, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as "expects," "anticipates," "plans," "believes," "estimates," "seeks," "intends," "targets," "projects," "forecasts" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may," "will," "should," "would" and "could." In particular, the forward-looking statements contained within this Investor Presentation include statements referring to the future state of the economy or the securities market and expected future deployment of capital, dispositions and associated realized carried interest, as well as statements regarding the results of future fundraising efforts. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. Some of the factors, many of which are beyond Brookfield Asset Management Ltd.'s control and the effects of which can be difficult to predict, but may cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) investment returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business, including as a result of COVID-19; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to Brookfield's business segments including renewable power, infrastructure, private equity, real estate, and other alternatives, including credit; and (xxv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States, available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, the company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise. 28#29Notice to Readers...cont'd Brookfield STATEMENT REGARDING PAST AND FUTURE PERFORMANCE AND TARGET RETURNS Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, or that future investments or fundraising efforts will be similar to the historic results presented herein (because of economic conditions, the availability of investment opportunities or otherwise). The target returns set forth herein are for illustrative and informational purposes only and have been presented based on various assumptions made by us in relation to, among other things, the investment strategies being pursued by the funds, any of which may prove to be incorrect. Due to various risks, uncertainties and changes (including changes in economic, operational, political or other circumstances) beyond our control, the actual performance of the funds could differ materially from the target returns set forth herein. In addition, industry experts may disagree with the assumptions used in presenting the target returns. No assurance, representation or warranty is made by any person that the target returns will be achieved, and undue reliance should not be put on them. Prior performance is not indicative of future results and there can be no guarantee that the funds will achieve the target returns or be able to avoid losses. STATEMENT REGARDING USE OF NON-GAAP MEASURES We disclose a number of financial measures in this Investor Presentation that are calculated and presented using methodologies other than in accordance with U.S. GAAP, including Distributable Earnings ("DE"). We utilize these measures in managing the business, including for performance measurement, capital allocation and valuation purposes and believe that providing these performance measures on a supplemental basis to our U.S. GAAP results is helpful to investors in assessing the overall performance of our businesses. These non-GAAP measures have limitations as analytical tools and should not be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, similar financial measures calculated in accordance with GAAP. We caution readers that these non-GAAP financial measures or other financial metrics may differ from the calculations disclosed by other businesses and, as a result, may not be comparable to similar measures presented by other issuers and entities. 29 20#30Awards and Recognition 1 Brookfield Private Debt Investor 2021 Infrastructure Debt Manager of the Year - Americas Infrastructure Investor AWARDS 2021 2021 Fund Manager of the Year North America IJGlobal Awards 2021 2021 Renewables Refinancing Deal of the Year - North America IJGlobal Awards 2021 IJGlobal Awards 2021 2021 Oil & Gas Refinancing Deal of the Year - MENA 2021 Oil & Gas Deal of the Year - MENA IJInvestor Awards Private Equity International 2021 2021 Equity Fund Manager of the Year - Americas AWARDS 2021 2021 Firm of the Year - Canada |PERE 2021 Proptech Firm of the Year - Global Private Equity International AWARDS 2020 2020 Firm of the Year - Canada CVCA CANADIAN VENTURE CAPITAL PRIVATE EQUITY ASSOCIATION 2020 Private Equity Deal of the Year (BGIS) Private Debt Investor Infrastructure Investor Infrastructure Investor Infrastructure Investor Infrastructure Investor 2020 Infrastructure Debt Manager of the Year - Americas 2020 Infrastructure Fund Manager of the Year - North America 2020 Equity Fundraising of the Year - Asia Pacific 2020 Deal of the Year Middle East & Africa (ADNOC) 2020 Energy Deal of the Year - Middle East & Africa (ADNOC) 30#31Awards and Recognition (cont'd)1 |PERE PERE AWARDS 2019 Alternatives Investor of the Year Global PERE AWARDS 2019 Alternatives Investor of the Year - Asia Brookfield PERE AWARDS 2019 Alternatives Investor of the Year Europe IJInvestor Awards 2020 2020 Equity Fund Manager of the Year 2020 Retail Investor of the Year - North America 2019 Alternatives Investor of the Year - Global 2019 Alternatives Investor of the Year - Asia 2019 Alternatives Investor of the Year - Europe IPERE AWARDS 2019 Firm of the Year - France IPERE AWARDS 2019 Hotels & Leisure Investor of the Year Asia IPERE AWARDS 2019 Retail Investor of the Year Global PERE AWARDS 2019 Capital Raise of the Year Global PERE AWARDS 2019 Firm of the Year - Australia 2019 Firm of the Year - France 2019 Hotel & Leisure Investor of the Year - Asia 2019 Retail Investor of the Year Global 2019 Capital Raise of the Year - Global 2019 Firm of the Year - Australia Infrastructure Investor AWARDS 2019 Digital Infrastructure Deal of the year Asia Pacific (Vodafone NZ) 2019 Digital Infrastructure Investor of the Year - Asia Pacific Infrastructure Investor AWARDS 2019 Digital Infrastructure Deal of the year North America (AT&T Data Centres) 2019 Digital Infrastructure Deal of the Year - North America (AT&T Data Centres) Infrastructure Investor AWARDS 2019 Digital Infrastructure Investor of the year - Asia Pacific 2019 Digital Infrastructure Deal of the Year - Asia Pacific (Vodafone NZ) Private Equity International AWARDS 2019 Firm of the year in Canada 2019 Firm of the Year Canada Private Debt Investor AWARDS 2019 Infrastructure debt fund manager of the year - Europe 2019 Infrastructure Debt Fund Manager of the Year - Europe 31#32Corporate and Regional Offices Brookfield Corporate Offices United States Brookfield Place 250 Vesey Street, 15th Floor New York, NY 10281-1023 Oaktree Capital Management, L.P. (Corporate Headquarters) 333 South Grand Ave., 28th Floor Los Angeles, CA 90071 Canada Brookfield Place 181 Bay Street, Suite 300 Bay Wellington Tower Toronto, ON M5J 2T3 Brazil Avenida das Nações Unidas, 14.261 Edifício WT Morumbi - Ala B 20º andar Morumbi - São Paulo - SP CEP 04794-000 Regional Offices (Brookfield & Oaktree) North America / Other Bermuda, Calgary, Chicago, Houston, Los Angeles, Vancouver South America Bogotá, Lima, Rio de Janeiro United Kingdom One Canada Square, Level 25 Canary Wharf London E14 5AA United Arab Emirates Level 16 ICD Brookfield Place Al Mustaqbal Street, DIFC P.O. Box 507234 Dubai Europe / UAE Amsterdam, Dublin, Frankfurt, Helsinki, Luxembourg, Madrid, Paris, Dubai Australia Level 19 10 Carrington Street Sydney, NSW 2000 India 8th Floor A Wing, One BKC Bandra Kurla Complex Bandra East Mumbai 400 051 Asia Pacific Sydney, Beijing, Hong Kong, Shanghai, Seoul, Singapore, Tokyo China Suite 1201, Tower B, One East No. 736 South Zhongshan 1st Road Huangpu District, Shanghai Shanghai 200021 32