Corporate Profile

Q2 2017

2

Cautionary Note Concerning Forward-Looking Statements

This Corporate Profile contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within themeaning of 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. Forward-looking statementsinclude statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business,financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook ofBrookfield Asset Management and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year andsubsequent periods, and include words such as “expects,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “forecasts” ornegative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.”

Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information arebased upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because theyinvolve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance orachievements of Brookfield Asset Management to differ materially from anticipated future results, performance or achievement expressed or implied by suchforward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: theimpact or unanticipated impact of general economic, political and market factors in the countries in which we do business; the behavior of financial markets,including fluctuations in interest and foreign exchanges rate; global equity and capital markets and the availability of equity and debt financing and refinancingwithin these markets; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability toattain expected benefits; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accountingassumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change;changes in government regulation and legislation within the countries in which we operate; changes in tax laws, catastrophic events, such as earthquakes andhurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time inour documents filed with the securities regulators in Canada and the United States.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investorsand others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, Brookfield Asset Managementundertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of newinformation, future events or otherwise.

Notes, assumptions, and definitions can be found in the appendix.

3

Overview

115-year history as a global investor, operator and leading asset manager of high quality real assets

Our Business Page 4

Additional InformationAsset Management Fee Streams Page 14

Asset Management Growth Potential Page 18

Invested Capital Page 20

Contact Information Page 24

4

Brookfield by the Numbers

Listed Partnerships 56%

Private Funds 35%

Public Securities 6%

Transaction and advisory 3%

Real Estate 58%

Renewable Power 12%

Infrastructure 15%

Private Equity 9%

Other 6%

Assets Under Management: $250 Billion+• Focused on high quality real assets• Diversified by asset class and region

Invested Capital: $31 Billion3

• Generates $1.4 billion of annualized distributable cash flow

• ~85% invested in listed entities

Fee Bearing Capital: $117 Billion • Generates $2.2 billion of annualized

fees and target carried interest• 700 investment professionals• Diversified by product mix and strategy

Infrastructure 39%

Real Estate 29%

Renewable Power 14%

Private Equity 12%

Public Securities 6%

BPY 53%

BEP 12%

BIP 6%

BBU 6%

Other Listed 7%

Unlisted 16%

BPY 47%

BEP 25%

BIP 14%

BBU 1%

Other Listed 13%

Invested Capital Distributable Cash Flow

1

Fee Revenue Diversification2

1) Other includes Public Securities AUM of $12.3 billion2) Fee revenue based on annualized fees; excludes target carried interest3) Prior to corporate leverage; using IFRS values as at June 30, 2017. See page 24 for detailed definition of invested capital

5

Interest expense (250)

Corporate costs (58)

(308)

LAST TWELVE MONTHSJUN. 30, 2017 ($ MILLIONS,

EXCEPT PER SHARE AMOUNTS) FFO3

Fee related earnings $ 732

Realized carried interest 152

884

Listed investments 1,755

Unlisted assets -

Disposition gains 1,266

3,021

Total $ 3,905

Total $ 3,597

Per share $ 3.55

Summarized Financial Performance

Our asset management business, alongside our invested capital, continues to generate meaningful returns for our shareholders

1) Represents fee bearing capital, of which $40 million is carry eligible2) IFRS values of debt and preferred shares at corporate level3) A detailed definition of funds from operations (“FFO”) can be found on page 244) Loan to value, refer to page 22 for more information

Capitalization

Invested Capital

CapitalAsset Manager

Recurring long-term fees received from managing our funds and

carried interests

Capital deployed in managed funds and on a direct basis

which generate cash distributions

Conservative long-term capitalization represents

15% LTV4 on invested capital

$117 Billion1

$31 Billion

$9 Billion2

6

Our Competitive Advantages

Our business strategy is simple and leverages our competitive advantages: large-scale capital; global reach; operational expertise

As an Asset Investor

• Large-scale capital allows us to pursue large transactions where capital is scarce

• Global presence and global mandates provide breadth of opportunities

• Operating expertise facilitates underwriting and enhances returns

• Deep history of global real asset investing

• Value-oriented culture focused on long-term investment returns

• Ability to invest in and operate multiple asset classes

• Large funds and listed entities allow access to multiple forms of capital

• Flexibility to invest across multiple products

• Operating capability is a key differentiator

• Alignment of interests

• Excellent performance record

• Real asset expertise aligns with growing capital allocations

• Transparent operating model and public company governance

As an Asset Manager

7

Asset Management – Diversified Multi-Vehicle Strategy

Our clients have tremendous flexibility to invest with us through Listed Partnerships, Private Funds and Public Securities across our real asset operating businesses

$12 billion

PublicSecurities

$50 billion

Private Funds

• Allows institutional investors to invest large amounts of capital

• Targeted and predetermined investment strategies

• Long-term investment horizon reducing reinvestment risk

Brookfield Asset Management

$55 billion

Listed Partnerships

• Exchange-traded and highly liquid

• Flexible capital allocation across broad asset class

• Consistent distribution yield

• Perpetual investment horizon

Fee Bearing Capital – $117 billion

• Diversified security portfolios leveraging our core expertise

• Flexible and scalable investment mandates

• Delegate tactical investment decisions

8

2013 2014 2015 2016 2017 Ann.

Asset Management – Financial Performance

Annualized fee revenues are $1.3 billion; we also generate $860 million of target carried interest annually, increasing our overall fee run rate to over $2.2 billion

Fee Revenues (LTM)1

Transaction & AdvisoryBase Fees

IDRs

$528

$702

$836

$1,105$1,200 $1,290

Performance Fees

1) Excludes carried interest2) Annualized

JUN. 30, 2017 ($ MILLIONS)

2

15%

LAST TWELVE MONTHS JUN. 30, 2017 ($ MILLIONS) 2017 2016 Change

Fee Bearing Capital $ 117,254 $ 108,312 $ 8,942

Base Fees

Listed Partnerships $ 469 $ 370 $ 99

Private Funds 462 439 23

Public Securities 85 103 (18)

1,016 912 104

Incentive Distributions 129 86 43

Performance Fees 25 – 25

Other 30 44 (14)

Fee Revenues 1,200 1,042 158

Direct Costs (468) (403) (65)

Fee Related Earnings $ 732 $ 639 $ 93

9

0-3 Years (5%)

4-7 Years (60%)

8+ Years (35%)2013 2014 2015 2016 2017

$18 $18

$22

$39 $40

$9$10

$9

$18 $18

Carry Eligible Capital ($40 Billion)1

AS AT JUN. 30, 2017

1) Estimate based on maturity date of funds currently generating deferred carried interest

Asset Management – Financial Performance

Carried interest represents our share of fund profits in our private funds. Carry eligible capital is $40 billion, positioning us well to continue to generate carry, with substantial upside

Uninvested Capital Invested Capital

Carry Eligible CapitalAS AT JUN. 30 ($ BILLIONS)

Unrealized Carried Interest ($1 Billion) – Realization Timeline AS AT JUN. 30, 2017

Earning Carry (49%)

Univested (45%)

Early stage (6%)

10

Invested Capital

~85% of our invested capital is held through listed securities, creating strong levels of financial flexibility and increased transparency1

• BPY, BEP and BIP are diversified entities with a portfolio of high quality, core-plus return asset portfolios with stable cash flows that support stable distributions

‒ The high quality nature of their asset base has a proven ability to withstand economic downturns, and they are financed on a long-term investment grade basis

• BBU is our flagship listed issuer for owning our business and industrial operations, focused on capital reinvestment for long-term appreciation

• The operating performance of the four flagship listed entities is economically and structurally independent from one another

• They each participate in our opportunistic or value-add private funds, providing enhanced returns to the core-plus portfolio and alignment of interests

• Listed investments distribute $1.4 billion in annualized cash flow2

BPY

BEP

BIP

OtherListed

Unlisted

Listed Partnerships

1) Prior to corporate leverage; using IFRS values as at June 30, 2017. See page 24 for detailed definition of invested capital2) Annualized distributed cash flow based on ownership and most recent distribution policies as at June 30, 2017. See page 21 for more information

BBU

Invested Capital: $31 Billion1

11

Capitalization and Liquidity

We are well positioned with a strong balance sheet and significant access to capital to maintain our growth momentum

• $7 billion of core liquidity to fund growth at BAM and listed subsidiaries

• $18 billion of committed capital from institutional partners

• ~$25 billion of balance sheet capital held in listed securities

Strong and Flexible Capitalization

• ~$81 billion of permanent equity capitalization; debt to capitalization: corporate (15%), proportionate (48%)

• Debt capital primarily in the form of investment-grade, long-term limited recourse financing secured at the asset level

• Minimal cross collateralization and parental guarantees provide stability and risk mitigation

Access to Capital

• Ability to raise third-party capital through publicly listed and private funds

• Investment grade ratings: S&P: A-; DBRS: A Low; Moody’s: Baa2

($ MILLIONS) 2017

Cash and financial assets $ 2,218

Undrawn committed credit facilities 5,174

Core Liquidity 7,392

Uncalled private fund commitments 17,525

Total Liquidity $ 24,917

Significant Liquidity

MaturityAverage

Term

($ MILLIONS) Total 2017 2018 2019 2020 2021+ (Years)

Corporate borrowings

Term debt $ 4,924 – – $ 464 – $ 4,460 8

Revolving facilities1 – – – – – – 5

Corporate borrowings 4,924 – – 464 – 4,460

Preferred shares 3,949 – – – – n/a perp.

$ 8,873 – – $ 464 – $ 4,460

1) Revolving credit facility of $1.9 billion to support commercial paper issuance (20 bps spread) or bankers acceptances/LIBOR loans (100 bps spread)

12

Why Invest in Brookfield Now?

• Strong fundraising and excellent track record

• High-growth fee streams provide stable cash flows and upside potential through performance fees

• Significant liquidity to fund future growth

• Flexibility to allocate capital to asset classes and markets that offer the most attractive risk-adjusted returns

• Diversified product offerings through multi-vehicle strategy

• Strong alignment of interests with shareholders and investors

• ~17% compound return over the past 20 years

Large Scale Capital

Global Presence

OperationsFocus

13

Additional Information

14

Performance NYSE / TSX

Total Return5 Distributions

5 YearAnnualized

(Per Unit)Target

Growth

Brookfield Infrastructure Partners BIP / BIP.UN 18% $ 1.74 5% – 9%

Brookfield Renewable Partners BEP / BEP.UN 8% 1.87 5% – 9%

Brookfield Property Partners BPY / BPY.UN 7% 1.18 5% – 8%

Brookfield Business Partners BBU / BBU.UN 9% 0.25 –6

1) Annual base fee to Brookfield Asset Management2) Based on capitalization of partnership (market capitalization plus recourse debt, net of cash)3) On increases in capitalization; initial capitalization for BPY and BEP is $11.5 billion and $8.1 billion, respectively4) Return hurdle based on quarterly growth of market value of units, subject to a high watermark initially set at $25 per unit5) As at Jun. 30, 2017; Source: Bloomberg; includes reinvestment of dividends. Brookfield Property Partners and Brookfield Business Partners were listed on NYSE in

March 2013 and June 2016, respectively; annualized return since inception6) Brookfield Business Partners’ level of distribution is not intended to grow as the partnership intends to reinvest its capital. Returns will be based on capital appreciation

Base Management Fees Incentive Distribution Rights

Fee StructureFixed

Base Fees Equity Enhancement

Fee (bps)2,3Annual Incentive

DistributionsReturn Hurdles

(1st & 2nd)

Brookfield Infrastructure Partners – 1252 15% / 25% $0.81 / $0.88

Brookfield Renewable Partners $21M1 1253 15% / 25% $1.50 / $1.69

Brookfield Property Partners $50M1 1253 15% / 25% $1.10 / $1.20

Brookfield Business Partners – 1252 20% $25/unit4

Asset Management – Listed Partnerships

Listed Partnerships are permanent capital, high growth entities; we earn contractual base management and performance fees for managing these partnerships

15

Performance1Committed Capital2

($ BILLIONS) Vintages Gross Net

Core Plus and Value Add

Real Estate $ 5 2006 – 2016 13% 11%

Infrastructure 26 2006 – 2016 16% 12%

Sustainable Resources 4 2005 – 2015 7% 6%

Finance 9 2004 – 2016 12% 10%

Opportunistic

Real Estate 21 2006 – 2015 21% 18%

Private Equity 6 2001 – 2015 22% 15%

1) As at June 30, 2017. Past performance is not indicative of future performance2) Committed capital represents original committed/pledged capital of both Brookfield and third parties, including current capital available for commitments, capital raised

from funds in market and capital that may no longer be available given the mandate of each product3) “Gross IRR” reflects IRRs before fund expenses, management fees (or equivalent fees), and carried interest (if any), which would reduce an investor’s return. “Net IRR” is

calculated on a fund level and not for any particular investor, and takes into account any such expenses, fees and carried interest (including any fees allocated to, or paid by, Brookfield and its affiliates as a limited partner based on applicable rates)

Typical Fee StructureBase Fees

(bps)Carried Interest

Target Return

Return Hurdles

Core Plus and Value Add 100 – 150 ∼18% 10% – 15% ∼9%

Opportunistic 150 – 190 ∼20% 18% – 25% ∼11%

Asset Management – Private Funds

Private funds generate long-term contractual base fees and have the opportunity to earn carried interest upon exceeding pre-determined return hurdles

IRRs3

16

Asset Management – Private Funds1

AS AT JUN. 30, 2017 ($ MILLIONS)Committed

CapitalBrookfield

Participation2Year

Formed

Brookfield Real Estate Funds

Opportunistic

Real Estate Opportunity I $240 52% 2006

Real Estate Opportunity II $260 29% 2007

Real Estate Turnaround $5,570 18% 2009

Strategic Real Estate Partners I* $4,350 31% 2012

Strategic Real Estate Partners II* $9,000 26% 2015

Thayer VI $306 48% 2014

Value Add

U.S. Multifamily Value Add I $325 13% 2011

U.S. Multifamily Value Add II $805 37% 2013

Core Plus

U.S. Office $2,200 83% 2006

DTLA $1,100 45% 2013

Premier Real Estate Partners3 $1,300 24% 2016

Finance

Real Estate Finance I $600 33% 2004

Real Estate Finance III $420 12% 2011

Real Estate Finance IV $1,375 18% 2014

AS AT JUN. 30, 2017 ($ MILLIONS)Committed

Capital Brookfield

Participation2Year

Formed

Brookfield Infrastructure Funds

Value Add

Global Infrastructure I* $2,660 25% 2009

Global Infrastructure II* $7,000 40% 2013

Global Infrastructure III* $14,000 29% 2016

Colombia Infrastructure $360 28% 2009

Private Utility $1,370 28% 2006

Sustainable Resources

Island Timberlands $530 – 2005

Timberlands Fund V $1,002 25% 2012

Brazil Timber I $280 18% 2008

Brazil Timber II $270 19% 2012

Brazil Agriculture I $330 31% 2009

Brazil Agriculture II $500 22% 2015

Brookfield Private Equity Funds

Opportunistic

Capital Partners II* C$1,000 40% 2006

Capital Partners III* $1,000 25% 2010

Capital Partners IV* $4,000 26% 2015

Finance

Peninsula Brookfield India Real Estate $95 – 2013

* Flagship funds1) Includes performance for all discretionary funds managed by Brookfield Asset Management Inc. or a management affiliate thereof and all investments made by a

consortium of investors formed and managed by Brookfield. Excludes direct investments or investments made through managed accounts, joint ventures, co-investments, publicly listed issuers or investment funds for which Brookfield did not serve as the manager during the investment period. Also excludes funds currently in the market and fully divested funds

2) Brookfield participation includes commitments from Brookfield Asset Management, Brookfield Property Partners, Brookfield Renewable Partners, Brookfield Infrastructure Partners and Brookfield Business Partners

3) Perpetual fund

17

Performance1,2,3 Net Portfolio ReturnsLong-only equity strategies

Real Estate 15.4%

Infrastructure 15.5%

Real Asset Debt 2.7%

Diversified Real Assets 0.7%

Long/short strategiesReal Estate 16.3%

Infrastructure 8.5%

1) As at June 30, 2017; Net portfolio returns represent annualized returns since inception of each respective strategy; Inception dates are as follows: Global real estate long-only –December 31, 2008; Global infrastructure long-only – December 31, 2008; Global real estate long/short – July 31, 2002; Global infrastructure long/short – May 20, 2008

2) Net of management fees3) Past performance is not indicative of future performance

Public Securities

The Public Securities Group specializes in listed real asset investment opportunities globally, in both equity and debt

• Actively managed strategies offered through separately managed accounts, mutual funds, UCITS funds, closed-end funds and private hedge funds

• Significant investor base managed on behalf of institutional and retail investors

InfrastructureEquities

~$12.3 BillionFEE BEARING CAPITAL

Real Estate

Infrastructure

Real Asset Debt

Real Asset Solutions

18

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Asset Management – Fee Bearing Capital Growth

We continue to increase fee bearing capital through our multi-product platform and are well positioned for continued growth; we currently have five close-ended funds in the market seeking to raise $12 billion of client capital and two open-ended funds seeking perpetual commitments, of which $1 billion has been closed to date

Source: 2016 BAM Investor Day, as at June 30, 2016Notes/Assumptions on fee bearing capital growth: 1) Listed partnerships’ midpoint of target distribution growth: BPY – 6.5%; BEP – 7.0%; BIP – 7.0% and $10 billion of preferred units or debt issuance over the next five years.

Assumes no change in units outstanding2) Private funds: raise two additional series of flagship funds ($40 billion) and $10 billion of new and/or niche products over the next five years3) Public securities grows at ~10% per annum

$191

Actual Interpolated Potential

($ BILLIONS)

• We target growth in fee bearing capital over the long term:

‒ Experiencing accelerated growth in private fund capital raises

‒ Listed partnership capital expands with distribution increases, capital issuances and M&A activity

• ~90% of fee bearing capital is perpetual from listed partnerships or long life private funds (10–12 years)

$108

Q2 2016

+12%CAGR

19

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Asset Management – Fee Related Earnings Growth

Fee related earnings have significant leverage to growth in fee bearing capital; increasing at a much faster rate than fee bearing capital

$1,455

Actual Interpolated PotentialQ2 2016LTM Actual

• New capital earns higher base-management fees:

Greater emphasis on higher return value add and opportunistic strategies

Increases in partnership capital yields 125 bps compared to lower flat fee on initial capitalization

Public Securities Group moving to higher fee equity strategies

• Incentive distributions increase at a ~31% CAGR over the next five years, if target distribution growth achieved

Source: 2016 BAM Investor Day, as at June 30, 2016Notes/Assumptions on fee bearing capital growth: 1) Listed partnerships’ midpoint of target distribution growth: BPY – 6.5%; BEP – 7.0%; BIP – 7.0% and $10 billion of preferred units or debt issuance over the next five years.

Assumes no change in units outstanding2) Private funds: raise two additional series of flagship funds ($40 billion) and $10 billion of new and/or niche products over the next five years3) Public securities grows at ~10% per annum

($ MILLIONS)

$660

+17%CAGR

20

Invested Capital – Simple and Transparent Operating Model

Brookfield Asset Management(BAM)

64%2

Brookfield Property Partners

(BPY)

Brookfield Investment

Management(Public Securities Group)

60%

BrookfieldRenewable Partners

(BEP)

30%

Brookfield Infrastructure

Partners(BIP)

1) Includes residential development operations, directly held real assets, and financial assets 2) Economic ownership interest3) Portfolios of fixed income and equity securities managed on behalf of clients

75%

Brookfield Business Partners

(BBU)

Directly Held Investments1

Public Securities

Funds3

BrookfieldPrivate Equity

Funds

BrookfieldProperty Funds

FundsRenewable Power Infrastructure

Core OfficeCore Retail

Opportunistic

UtilitiesTransport

EnergySustainable Resources

Communications

Private Equity Industrial and Energy

Business Services

HydroelectricWind

Corporate CreditInfrastructure SecuritiesReal Estate Securities

Securitized Credit

100%

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Invested Capital – Holdings

Our $31 billion of invested capital provides high levels of financial flexibility and substantial debt coverage

1) Based on most recent units outstanding, including the impact of the BEP equity issuance in July 20172) Quoted value based on June 30, 2017 public pricing3) Excludes realized disposition gains4) Annualized distributed cash flow is based on current distribution policies5) Includes $819 million of cash and cash equivalents and $522 million of financial assets, net of deposits6) Estimated 8% annualized total return on weighted average balance

Invested Capital FFO3 Distributed Cash Flow

(Annualized)4Invested Capital - Breakdown No. of Units1 Quoted2 IFRS Three Months LTMListed Investments

Brookfield Property Partneres 488 $ 11,551 $ 15,240 $ 173 $ 660 $ 576 BPY Preferred Shares n/a 1,265 1,265 19 76 76

12,816 16,505 192 736 652

Brookfield Renewable Partners 188 6,017 3,642 108 352 Brookfield Infrastructure Partners 110 4,510 1,783 0 279 192 Brookfield Business Partners 81 2,189 1,928 13 105 20 Financial assets6 Various 1,341 1,341 11 107 109 Other investmentsNorbord 35 1,087 330 56 176 54 Acadian Timber 8 109 82 — 7 6 Other listed Various 447 447 — 67 —

$ 28,516 26,058 460 1,755 1,385 Unlisted Investments

Residential development 2,749 (30) 47 Energy marketing 1,060 (43) (81)Other 1,188 4 34

4,997 (69) —

$ 31,055 $ 391 $ 1,755

6

22

Debt to Capitalization

CapitalizationCorporate Proportionate1 Consolidated1

AS AT JUN. 30, 2017 AND DEC. 31, 2016(MILLIONS) 2017 2016 2017 2016 2017 2016Corporate borrowings $ 4,924 $ 4,500 $ 4,924 $ 4,500 $ 4,924 $ 4,500Non-recourse borrowings

Property specific borrowings — — 27,944 26,421 57,767 52,502Subsidiary borrowings — — 6,174 5,231 9,967 7,949

4,924 4,500 39,042 36,152 72,658 64,951

Accounts payable and other 2,254 1,901 8,552 7,726 15,934 11,982Deferred income tax liabilities 275 246 5,291 4,572 11,928 9,640Subsidiary equity obligations — — 1,636 1,828 3,618 3,565Equity

Non-controlling interests — — — — 47,767 43,235Preferred equity 3,949 3,954 3,949 3,954 3,949 3,954Common equity 22,329 22,499 22,329 22,499 22,329 22,499

26,278 26,453 26,278 26,453 74,045 69,688Total capitalization $ 33,731 $ 33,100 $ 80,799 $ 76,731 $ 178,183 $ 159,826Debt to capitalization2 15% 14% 48% 47% 41% 41%

1. Reflects liabilities associated with assets held for sale on a consolidated and proportionate basis according to the nature of the balance2. Determined as the aggregate of corporate borrowings and non-recourse borrowings divided by total capitalization

• Capitalization includes accounts payable and other liabilities and deferred income taxes, as well as borrowings, subsidiary equity obligations and equity, which isconsistent with how we assess our leverage ratios and how we present them to our rating agencies.

– Corporate capitalization shows debt on a deconsolidated basis.

– Proportionate consolidation, which reflects our proportionate interest in the underlying entities, depicts the extent to which our underlying equity isleveraged, which we believe is an important component of enhancing shareholder returns.

– Consolidated capitalization reflects the full consolidation of wholly owned and partially owned entities; however, excludes amounts within equity accountedinvestments.

23

Investor Relations Contacts

Contact Title E-Mail Address Phone Number

Brian Lawson Chief Financial Officer brian.lawson@brookfield.com (416) 363-9491

Dennis Blasutti Senior Vice President, Finance dennis.blasutti@brookfield.com (416) 369-5741

Jennifer Ritchie Director, Finance jennifer.ritchie@brookfield.com (416) 956-5230

24

Appendix – Notes, Assumptions, and Definitions

Fee Bearing Capital represents the capital committed,pledged or invested in our listed partnerships, privatefunds, and public securities that we manage, which entitleus to earn fee revenues and/or carried interest. Feebearing capital includes both called (“invested”) anduncalled (“pledged” or “committed”) amounts.Fee Revenues include base management fees, incentivedistributions, performance fees and transaction andadvisory fees presented within our asset managementsegment. Fee revenues exclude carried interest.Fee Related Earnings (“FRE”) are comprised of feerevenues less direct costs (other than costs related tocarried interests). FRE gross margin is equal to FRE as apercentage of Fee Revenues.Base Management Fees are determined by contractualarrangements, are typically equal to a percentage of feebearing capital, are accrued quarterly, include base feesearned on fee bearing capital from both clients andourselves and are typically earned on both called anduncalled amounts.Incentive Distributions (“IDRs”) are determined bycontractual arrangements and are paid to us by our threeprimary listed partnerships and represent a portion ofdistributions paid by a listed partnership above a pre-determined threshold.Performance Fees are paid to us when we exceed pre-determined investment returns on certain portfoliosmanaged in our public securities activities. Performancefees are typically determined on an annual basis and arenot subject to “clawback” in future years.Carried Interest is a contractual arrangement wherebywe receive a fixed percentage of investment gainsgenerated within a private fund provided that theinvestors receive a pre-determined minimum return.Carried interest is typically paid towards the end of the lifeof a fund after the capital has been returned to investorsand may be subject to “clawback” until all investmentshave been monetized and minimum investment returnsare sufficiently assured. We defer recognition of carriedinterest in our financial statements until they are no longersubject to adjustment based on future events. Unlike feesand incentive distributions, we only include carriedinterest earned in respect of third-party capital whendetermining our segment results.

Annualized Fee Base and Target Carry is a non-IFRSmeasure that consists of annualized fees plus targetcarried interest.

‒ Annualized fees include annualized basemanagement fees which are determined by thecontractual fee rate multiplied by the current level offee bearing capital, annualized incentive distributionsbased on our listed partnerships current annualdistribution policies, annualized transaction andadvisory fees which are equal to a simple average ofthe last two years’ revenue, annualized performancefees earned from public securities which is equal to asimple average of the last two years’ revenues, andtarget carried interest.

‒ Target carried interest is a mechanical calculation thatis intended to represent the annualized carriedinterest we would earn on third-party private fundcapital subject to carried interest on the assumptionthat we achieve the targeted returns on the privatefunds. It is determined by multiplying the target grossreturn of a fund, less the base management fee, bythe percentage carried interest to which we areentitled to, multiplied by the amount of third-partycapital, and by the utilization factor.

LTM represents last twelve months of financial data.Funds from Operations (“FFO”) is a key measure of ourfinancial performance and we use FFO to assessoperating results and our businesses performance on asegmented basis. We define FFO as net income prior tofair value changes, depreciation and amortization,deferred income taxes and transaction costs. Whendetermining FFO, we include our proportionate share ofthe FFO of equity accounted investments on a fullydiluted basis. FFO and its per share equivalent are non-IFRS measures which do not have any standard meaningprescribed by IFRS and therefore may not be comparableto similar measures presented by other companies. Themost directly comparable IFRS financial measure is netincome. Please refer to the “Reconciliation of Net Incometo FFO” contained in the Supplemental Informationposted and maintained on our website for the relevantperiod.

Invested Capital is the amount of common equityallocated to a business segment or business line within asegment. This measure is intended to present the netassets associated with FFO of the segment. Investedcapital is equal to common equity by segment, an IFRSmeasure contained in the filed Interim Report and AnnualReport for the relevant period.The private funds performance summary on page 15 setsforth the aggregate performance of our private investmentfunds by strategy (collectively, the “Funds”) thatBrookfield is currently managing or has previouslymanaged, and is intended to illustrate Brookfield’sexperience in managing funds. Committed capitalincludes original committed/pledged capital, includingcurrent capital available for commitments and capital thatmay no longer be available given the mandate of eachproduct. Gross Internal Rate of Return (“Gross IRR”)reflects the annualized performance before fundexpenses, management fees and carried interest. “NetIRR” reflects annualized performance taking into accountfund expenses, management fees and carried interestand are calculated on a fund level and not for anyindividual investor. Fund investors will likely have differentperformance returns than those used to aggregate netperformance herein due to varying economic terms. Incertain funds, Brookfield and its affiliates do not paymanagement fees or carried interest as a limited partner,which would otherwise result in lower returns, as suchBrookfield has included a notional fee on Sponsor capitalas if it were a third party investor. Gross IRR and Net IRRby strategy reflect the aggregate equity invested, realizedand unrealized proceeds, fund expenses, managementfees and carried interest, in the funds currency, ifapplicable, for the respective private investment vehicle.Aggregate performance includes certain funds that arenot eligible for performance fees or “carried interest” andexcludes funds’ in marketing or funds closed within 12months of the performance calculation date. Priorperformance is not indicative of future results and therecan be no guarantee that future funds or investments willachieve comparable results or be able to avoid losses.Gross IRR and Net IRR reflect performance from thefunds’ initial investment date to September 30, 2016.