BAM2025 Arrangement

Pursuant to the 2025 Arrangement, BAM acquired approximately \(73\%\) of the outstanding common shares of Brookfield's asset management business from the Company in exchange for 1,194,021,145 newly-issued Class A Limited Voting Shares of BAM ("BAM Class A Shares"). As a result, BAM now owns \(100\%\) of Brookfield's asset management business, and, as of February 4, 2025, there was a total of 1,637,198,026 BAM Class A Shares issued and outstanding, of which the Company retains an approximately \(73\%\) interest. Based on the closing price of the BAM Class A Shares on the NYSE on February 3, 2025 of US$58.19 per share, BAM's total market capitalization was approximately US$95.3 billion.

The 2025 Arrangement was approved by BAM shareholders at a special meeting held on January 27, 2025. The Supreme Court of British Columbia issued a final order approving the 2025 Arrangement on January 30, 2025.

Preliminary Financial Results for the Three Months and Year Ended December 31, 2024