Mr. Andrew Willis reports

BROOKFIELD TO ISSUE C$150 MILLION OF PREFERRED SHARES

Brookfield Asset Management Inc. has agreed to issue six million Class A preferred shares, Series 44, on a bought deal basis to a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital Markets and TD Securities Inc. for distribution to the public. The preferred shares, Series 44, will be issued at a price of $25 per share, for gross proceeds of $150-million. Holders of the preferred shares, Series 44, will be entitled to receive a cumulative quarterly fixed dividend yielding 5 per cent annually for the initial period ending Dec. 31, 2020. Thereafter, the dividend rate will be reset every five years at a rate equal to the greater of: (i) the five-year government of Canada bond yield plus 4.17 per cent, and (ii) 5 per cent.

Brookfield has granted the underwriters an option, exercisable until 48 hours prior to closing, to purchase up to an additional two million preferred shares, Series 44, which, if exercised, would increase the gross offering size to $200-million. The preferred shares, Series 44, will be offered in all provinces of Canada by way of a supplement to Brookfield's existing short form base shelf prospectus. The preferred shares, Series 44, may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act.

Brookfield intends to use the net proceeds of the issue of preferred shares, Series 44, for general corporate purposes. The offering of preferred shares, Series 44, is expected to close on or about Oct. 2, 2015.

We seek Safe Harbor.