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...and fee-bearing capital from perpetual strategies should increase to over $370 billion Distribution Growth (BIP, BEP) Market Valuation (BBU, Other) Perpetual Private Fundraising $108B1 65 15 91 2021 3 28% CAGR Issuances 2 Insurance Solutions Other² 17 $376B 200 268 108 2026 ■Perpetual Private Funds ■Perpetual Affiliates 1. Opening listed partnership and perpetual private funds fee-bearing capital as at June 30, 2021. 2. Other includes private fund capital raised but not yet deployed as at June 30, 2026 and outflows. 3. See Notice to Recipients and Endnotes, including endnotes 10 and 11. 165

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