#1Brookfield Asset Management INVESTOR PRESENTATION NOVEMBER 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, operating in over 30 countries Renewable Power & Transition Infrastructure Private Equity Real Estate Credit and Insurance Solutions All figures in this presentation are as of September 30th, 2023 See Notice to Recipients and Endnotes, including Endnotes 1 and 2. Brookfield BAM NYSE/TSX Ticker $54B Market Cap $865B Assets Under Management 2#3We Own the Backbone of the Global Economy We invest in high-quality, essential assets and businesses that form the backbone of the global economy $440B Fee-Bearing Capital A Brookfield Renewable Power Infrastructure Private Equity Real Estate Credit & Other & Transition $48B $97B $42B $100B $153B See Notice to Recipients and Endnotes, including Endnote 3. 3#4Brookfield 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 ~200,000 Operating Employees ~2,500 Investment and Asset Management Professionals ~2,000 Global Institutional Clients North America Europe & East Middle 60% South America 6% Figures represent percentage of total assets under management (AUM). See Notice to Recipients and Endnotes, including Endnote 1. 20% Asia Pacific 14% 4#5Built on a 100-Year Foundation While the stock is new, our market leadership, commitment to clients and value-creation approach remain unchanged Brookfield Experience Everything we do—and every investment we make-is rooted in our over 100-year heritage as an owner-operator N Scale Our access to capital allows us to execute transactions of a size that few others can match, making us a partner of choice * Essential Assets We invest in long-life assets and high-quality businesses that form the backbone of the global economy 8-8 The Brookfield Ecosystem Helps us identify themes and trends, spot pockets of value and source attractive investment opportunities □ O 品 Diversified Our businesses are designed to leverage our operating expertise across market environments and sectors Relationships We align our interests with those of our investors, seeking to deliver superior performance and the highest level of client service 5#6The Brookfield Ecosystem The Brookfield Ecosystem spans the core sectors that keep the global economy running Business Services Hospitality B Transport BIC Housing Mixed Use, Retail & Entertainment Logistics & Self-Storage Utilities Infrastructure Services Brookfield Wind Midstream Industrials Science & Innovation Technology Services Solar ه Hydro Healthcare Energy Transition Office (()) Data Brookfield The Brookfield Ecosystem allows us to identify themes and trends, spot pockets of value and source attractive investment opportunities 199 6#7Positioned for Strong Growth Brookfield 7#8Why Are Investors Choosing to Invest Their Growing Capital Base Brookfield in Alternative Assets? 0.5-5.0% 11-12% 7-10% Bond Yields 1 Target 3 Private Credit Public 2 Equity Returns 123 12-20% Excess returns ✓ Diversification Target Real 3 Assets and Private Equity ✓ Less volatility ✓ Predictable cash flows As of September 30, 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 September 30, 2023, annualized total return of SPX and DJI over the past 10 years, compounded with dividends reinvested. Source: Capital IQ As of September 30, 2023, annualized target total return over the past 10 years for assets managed by the largest alternative asset managers, compounded with dividends reinvested. 8#9Investors 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 $4.6 $5.5 $6.3 $6.8 Brookfield Alternatives AUM2 ($ in Trillions) $23.2 Over 5x Growth $7.2 $7.6 $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. 9#10The Consolidation Effect in Action Investors have been consolidating their exposure in the asset management sector to the largest and most diversified managers Brookfield will seek to benefit from increased consolidation in the space Brookfield 10#11Brookfield is Positioned Around Massive Global Secular Tailwinds Brookfield Trillions of dollars will need to be invested as the world adapts to paradigm shifts Brookfield Decarbonization Deglobalization Digitalization Our assets live at the epicenter of these decades-long megatrends 11#12Brookfield Brookfield Has Strong Portfolio and Earnings Growth... With a 2023 target of $150 billion of capital inflows, we are on track to hit our target of $1T of fee-bearing capital in five years $129B Fee-Bearing Capital (FBC) ~23% $1,014B CAGR $440B $0.9B Fee-Related Earnings (FRE) $4.8B -19% CAGR $2.2B 2018 Q3-2023 20281 2018 Q3-2023 20281 1. Strategic target announced at 2023 Investor Day, represents June 30, 2028. 12#13...With Increased Realized Carry Potential in the Future As our carry-eligible capital continues to grow, carried interest will become a significant contributor in the future. Total Brookfield Carry-Eligible Capital ($ billions) $527 $496 19% $430 CAGR $351 $285 $220 $465 $409 43% CAGR $323 $222 $136 $79 2023 2024 2025 2026 2027 BAM Carry- Eligible Capital 2028 Capital for which BAM is not eligible to earn carry ■Capital for which BAM is eligible to earn carry Brookfield Gross Carried Interest to BAM $2B Estimated Realizations in 2029 Growing To $7B Estimated Realizations in 2033 13#14Selective Strategic Acquisitions Can Accelerate Growth A strategic acquisition of an asset manager would be incremental to BAM'S organic five-year growth targets + New Asset Classes Technology Healthcare Specialty Finance Consumer Brands Secondaries Geographical Operational Capabilities Brookfield Access to Complementary LPs Mid-Market U.S. Pensions European LPs Any acquisition activity or inorganic growth will only add to our double-digit return targets 14#15Cash Flow Stability and Resiliency Brookfield 15#16BAM Operates with Industry-Leading Metrics $ -100% of DE is FRE 86% Long-Term Capital 55-60% Margin Brookfield 15-20% Growth Targets -90% + Dividend Payout Ratio No Debt Asset-Light Balance Sheet 16#17Superior Investment Performance Drives Inflows... Our businesses are established, and our flagship funds have a history of producing strong returns for investors Gross IRR Brookfield $ Renewable Power Infrastructure Private Equity Real Estate Credit & Transition 13% 16% 27% 23% 22% Net IRR 9% 12% 21% 19% 16% AUM $78B $180B $139B $271B $197B Global Institutional -100 ~550 -500 -700 ~1,050 Clients See Notice to Recipients and Endnotes, including endnotes 1 and 2. 17#18...with an Integrated Approach to Creating Sustainable Value We have long believed ESG is complementary to creating lasting value Brookfield Catalyzing Decarbonization Transforming our operations in line with our ambition to reach net zero by 2050 or sooner $201B of AUM included in our Net Zero Asset Management (NZAM) interim target $15B raised for the first Brookfield Global Transition Fund (BGTF), the largest fund of its kind ESG Management & Transparency ESG integration throughout the investment process as a lever of value creation Alignment with leading ESG frameworks, including PRI, SASB & TCFD Bringing together significant ESG data and disclosure for investment decisions and reporting Winning Culture Health and safety operational excellence to achieve target of zero serious safety incidents 57% female representation of independent board of directors 40% diverse representation of our employee population 18#19Diversified and Long-Term Capital Base Brookfield 86% of our fee-bearing capital is long-term in nature, driving 94% of our fee revenues and creating a stable and predictable earnings base. Fee-Bearing Capital and Fee Revenue Composition 8% 14% 6% 8% $440B $1.1B Q3-23 FBC 54% 29% Q3-23 Fee Revenue 57% 24% ■Long-Term Private Funds Permanent Capital Vehicles¹ ■ Perpetual Strategies Liquid Strategies 1. Permanent Capital Vehicles include BIP, BEP, BBU, BPG and our insurance platform. 19#20Significant Available Liquidity to Make Additional Investments Brookfield Dislocation in financial markets has historically created some of the most attractive risk-adjusted investment prospects for investors with substantial dry powder Uncalled Fund Commitments $18 $17 $102B $14 $23 Uncalled Commitments $9 $21 ■Renewable Power and Transition ■Private Equity ■Credit and Other $45B Uncalled fund commitments not currently earning fees $450M Approximate additional revenue generated once the $45 billion of uncalled fund commitments is deployed Infrastructure ■Real Estate Brookfield Corporation and Affiliates $2.9B Cash on hand as of September 30, 2023 Note: See Notice to Recipients and Endnotes, including Endnote 7. 20 20#21Growth Prospects and Cash Flow Stability will Lead Future Success Brookfield ✓ Differentiated strategy positioned at the epicenter of large global secular trends ✓ Proven track-record of successfully delivering above market-risk adjusted returns ✓ 85+% long term capital base leads to 90+% long-term cash flow stability ✓ Asset light balance sheet with ~$3 billion of cash and Brookfield capital ecosystem ✓ Diversification of investor base around the globe Any acquisition activity or inorganic growth will only add to our double-digit return targets See Notice to Recipients and Endnotes. 21#22Appendix Brookfield 22 22#23Third Quarter Financial Performance Fee-Related Earnings (FRE) of $565 million ($0.35/share), up 8% from the prior year period Distributable Earnings (DE) of $568 million ($0.35/share), up 8% from the prior year period Brookfield FOR THE PERIODS ENDED SEP. 30 (MILLIONS, EXCEPT PER SHARE AMOUNTS) Last Three Months Last Twelve Months Q3-23 Q3-22 Variance Q3-23 Fee Revenues $ 1,109 $ 1,021 $ 88 $ 4,344 $ Direct Costs (511) (462) (49) (1,976) Q3-22 3,876 (1,737) Variance $ 468 (239) Total Fee-Related Earnings (excl. performance fees) 598 559 39 2,368 2,139 229 Amounts not attributable to Brookfield Asset Management (33) (36) 3 (132) (152) 20 Brookfield Asset Management Fee-Related Earnings (excl. performance fees) 565 523 42 2,236 1,987 249 FRE Margin at Our Share 1 56 % 57 % (1)% 57 % 57 % - % Add: Performance Fees 78 Less: Cash Taxes Fee-Related Earnings (FRE) Add: Equity-Based Compensation Costs and Other 2 Distributable Earnings (DE) SA FRE as % of DE $ 565 49 (46) $ 568 $ 99% 69 SA 22 523 22 (21) $ 524 SA EA 42 $ 2,236 $ 2,065 (78) 171 27 177 81 (25) (186) (81) 96 (105) 44 $ 2,227 2,065 EA 100 % (1)% 100 % 100 % $ 162 % Per share Fee-Related Earnings Distributable Earnings Total diluted shares at end of period $ 0.35 0.35 $ 0.32 0.32 $ 0.03 $ 1.37 $ 1.26 $ 0.11 0.03 1.36 1.26 0.10 1,635.3 1,635.3 1,635.3 1,635.3 1. 2. FRE Margin at our share is calculated excluding the impact of performance fees, consolidating our share of non-controlling interest revenues and costs. Other includes Brookfield Asset Management's portion of Oaktree investment income, realized carried interest, and other income. | 25 23#24A Range of Alternative Investment Strategies Our strategies across debt and equities offer clients multiple access points along the risk-return spectrum Target Return Debt Strategies Mezzanine Core U.S. Real Estate Debt Junior, Senior Mezzanine Global Core Infrastructure Infrastructure Debt Global, Europe Illustrative Risk-return Profile Equity Strategies Core Plus Value Add Real Estate Secondaries Transition Investments Infrastructure Structured Solutions Global Core-Plus Infrastructure Core/Core-Plus Real Estate U.S., Australia, Europe Brookfield Opportunistic Technology Growth Global Private Equity Special Investments Global Opportunistic Real Estate Risk Renewable Power Infrastructure Private Equity Real Estate 24#25Brookfield Renewable Power and Transition Brookfield is one of the most impactful renewable power and decarbonization investors, owners and operators $78B Assets Under Management $48B 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 energy security and 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. 25#26Infrastructure Brookfield is one of the world's largest infrastructure investors, owners and operators $180B Assets Under Management 140 $97B Fee-Bearing Capital Investment Professionals Overview • 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 Asset Types Transport Utilities Brookfield 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. 26#27Brookfield Private Equity Brookfield is one of the most experienced private equity investors $139B Assets Under Management $42B Fee-Bearing Capital 190 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 benefits from our large global footprint and the broader Brookfield ecosystem to surface investment opportunities 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 Products Long-Term Private Funds Private Equity Opportunistic Special Investments Growth Secondaries Closed-end flagship fund series focused on opportunistic private equity 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 Focused on mid-life investments in sponsor-backed, high performing middle-market companies Note: See Notice to Recipients and Endnotes, including Endnotes 1 and 3. Asset Types Industrials Infrastructure Services + Business Services Technology Services Healthcare Services 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 27 22#28Real Estate Brookfield is one of the largest real estate investors with a diversified portfolio in the world's most well-established markets $271B Assets Under Management 340 Investment Professionals $100B Fee-Bearing Capital Asset Types Overview • 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 Brookfield 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. 28#29Brookfield Credit and Insurance Solutions Brookfield's partnership with Oaktree has established it as one the largest and fastest-growing alternative credit managers $197B Assets Under Management $153B Fee-Bearing Capital 460 Investment Professionals1 Private Equity Overview 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 September 30, 2023 we had a 68% 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 Our Insurance Solutions business manages policyholder capital and deploys this across liquid credit strategies, direct loans and private funds Asset Types Senior and Subordinated Private Debt 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 and Perpetual Strategies 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. 29 20#30Our Leadership Brookfield's senior management team possesses deep experience in our target regions, sectors and asset classes, as well as decades of investment expertise built on managing assets and businesses across market cycles Brookfield Asset Management Bruce Flatt Chief Executive Officer, BAM Connor Teskey President, BAM CEO, Renewable Power & Transition Craig Noble CEO, Alternative Investments Justin Beber Chief Administrative Officer General Counsel, BAM Nicholas Goodman President and CFO, BN Brookfield Affiliates Brian Kingston CEO, Real Estate Cyrus Maddon CEO, Private Equity Sam Pollock CEO, Infrastructure Bahir Manios Chief Financial Officer, BAM Brookfield Sachin Shah CEO, Insurance Solutions 30#31Endnotes Brookfield 1. 2. 3. 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 4. 5. 6. 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 7. 8. 9. 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. 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 September 30, 2023, was as follows: BEP/BEPC - $20 billion; BIP/BIPC - $31 billion; BBU/BBUC $7 billion; and BPG - $19 billion. - 31#32Notice 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 Report 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. In addition to historical fact, this Investor Presentation contains "forward-looking information" within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and, "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: our lack of independent means of generating revenue; our material assets consisting solely of our interest in Brookfield Asset Management ULC; challenges relating to maintaining our relationship with Brookfield Corporation and potential conflicts of interest; Brookfield Asset Management Ltd. being a newly formed company; our liability for our asset management business; our ability to maintain Brookfield Asset Management Ltd.'s excepted status as a "foreign private issuer" and an "emerging growth company" under U.S. federal securities laws; the difficulty for investors to effect service of process and enforce judgments in the United States, Canada and/or other applicable jurisdictions; the impact on growth in fee-bearing capital of poor product development or marketing efforts; our ability to maintain our global reputation; volatility in the trading price of our class A limited voting shares; being subjected to numerous laws, rules and regulatory requirements; the potential ineffectiveness of our policies to prevent violations of applicable law; meeting our financial obligations due to our cash flow from our asset management business; foreign currency risk and exchange rate fluctuations; requirement of temporary investments and backstop commitments to support our asset management business; rising interest rates; revenues impacted by a decline in the size or pace of investments made by our managed assets; our earnings growth can vary, which may affect our dividend and the trading price of our class A limited voting shares; exposed risk due to increased amount and type of investment products in our managed assets; difficulty in maintaining our culture or managing our human capital; political instability or changes in government; unfavorable economic conditions or changes in the industries in which we operate; catastrophic events, such as earthquakes, hurricanes, or pandemics/epidemics; deficiencies in public company financial reporting and disclosures; ineffective management of environmental, social and governance (ESG) considerations, and inadequate or ineffective health and safety programs; failure of our information and technology systems; us and our managed assets becoming involved in legal disputes; losses not covered by insurance; our inability to collect on amounts owing to us; information barriers that may give rise to conflicts and risks; risks related to our renewable power and transition, infrastructure, private equity, real estate, and other alternatives, including credit strategies; risks relating to Canadian and United States taxation laws; and other 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.sedarplus.ca 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. 32#33Notice to Readers (cont'd) 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 Brookfield Asset Management Ltd. 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 Brookfield Asset Management Ltd.'s 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, as issued by the International Accounting Standards Board, including, but not limited to, Fee Revenues, Fee-Related Earnings, and Distributable Earnings. 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 U.S. 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. Brookfield 33#34Awards 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) 34#35Awards 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 35#36Corporate 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, 14401 Parque da Cidade - Torre Paineira 15F CEP 04794-000 São Paulo - SP Regional Offices (Brookfield & Oaktree) 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 Australia Level 19 10 Carrington Street Sydney, NSW 2000 India 8th Floor A Wing, One BKC Bandra Kurla Complex Bandra East Mumbai 400 051 China Suite 1201, Tower B, One East No. 736 South Zhongshan 1st Road Huangpu District, Shanghai Shanghai 200021 North America / Other South America Bermuda, Calgary, Chicago, Bogotá, Lima, Houston, Los Angeles, Vancouver Rio de Janeiro Europe / UAE Amsterdam, Dublin, Frankfurt, Helsinki, Luxembourg, Madrid, Paris, Dubai Asia Pacific Sydney, Beijing, Hong Kong, Shanghai, Seoul, Singapore, Tokyo 36