Mr. Bruce Flatt reports

BROOKFIELD ASSET MANAGEMENT ANNOUNCES US$1,075 MILLION EQUITY OFFERING AND DECLARES QUARTERLY DIVIDEND

Brookfield Asset Management Inc. has agreed to issue 17.9 million Class A limited voting shares, on a bought-deal basis, to a syndicate of underwriters co-led by CIBC, RBC Capital Markets, Citigroup Global Markets Canada Inc. and Deutsche Bank Securities, at a price of $56 (U.S.) per Class A share, for gross proceeds of $1,000,160,000 (U.S.). In addition, current officers, directors and shareholders of Brookfield, including Partners Value Fund Inc. and entities controlled by them, will purchase, directly or indirectly, an aggregate of 1,395,089 Class A shares at the offering price concurrent with the offering. The aggregate gross proceeds of the offering and the private placement will be $1,075,159,985 (U.S.).

Brookfield has granted the underwriters an overallotment option, exercisable in whole or in part for a period of 30 days following closing of the offering, to purchase up to an additional 2,679,000 Class A shares at the offering price (prior to adjustment for Brookfield's three-for-two stock split announced on April 8, 2015). If this option is exercised in full, the gross offering size would increase to $1,225,183,985 (U.S.).

Brookfield intends to use the net proceeds of the offering and private placement for general corporate purposes, including the financing of future investments. The offering and private placement are expected to close on or about April 27, 2015.

Bruce Flatt, chief executive officer of Brookfield, stated: "We are working on a number of attractive opportunities that will enable us to invest this capital, and while we rarely issue common shares, this capital should provide greater flexibility to assist us in generating increased returns over the long term on a per-share basis.

"We have been increasing our capital resources throughout the organization, including our listed partnerships, through asset sales, long-term debt placements and equity issues; and are also in the process of raising major capital commitments for a number of new private funds. Issuing equity capital at Brookfield will further augment our resources to pursue the wide array of investment opportunities in front of us."

The Class A shares to be issued under the offering will be offered under Brookfield's existing base-shelf prospectus filed in the United States and Canada. Brookfield has filed a preliminary prospectus supplement relating to the offering. You may obtain these documents for free on EDGAR or on SEDAR. Alternatively, copies can be obtained from:

• CIBC: 1-800-282-0822;
• Citigroup Global Markets Inc.: 1-800-831-9146;
• RBC Capital Markets LLC: 1-877-822-4089;
• Deutsche Bank Securities Inc.: 1-800-503-4611.

Dividend declaration

The board of directors has effected the dividend increase of 6 per cent per share previously announced on April 8, 2015, by declaring a quarterly dividend of 12 U.S. cents per share (representing 48 U.S. cents per annum), payable on June 30, 2015, to shareholders of record as at the close of business on May 29, 2015. This dividend will be paid following the three-for-two stock split of the Class A shares that will occur on May 12, 2015, and represents, on a presplit basis, 18 U.S. cents per share (or 72 U.S. cents per annum).

Information on Brookfield's dividends can be found on its website under investors/stock and dividend information.

We seek Safe Harbor.