Mr. Frank McKenna reports

BROOKFIELD ASSET MANAGEMENT ANNOUNCES SAY ON PAY RESULTS AND ELECTION OF DIRECTORS

Brookfield Asset Management Inc. has released the results of its annual meeting of shareholders held on June 17, 2016, in Toronto. Approximately 95 per cent of Class A limited voting shares voted in favour of an advisory vote approving the company's approach to executive compensation.

In addition, at the meeting, all eight nominees proposed for election to the board of directors by holders of Class A shares and all eight nominees proposed for election to the board of directors by the holder of Class B limited voting shares were elected. Detailed results of the vote for the election of directors are set out in the attached table.

Management received the following proxies from holders of Class A shares regarding the election of the eight directors nominated by this shareholder class.

Director nominee                Votes for        (%)    Votes withheld        (%)

M. Elyse Allan                694,647,961     99.75          1,770,183      0.25
Angela F. Braly               694,603,312     99.74          1,814,832      0.26
Marcel R. Coutu               688,577,943     98.87          7,840,201      1.13
Maureen Kempston Darkes       687,471,506     98.72          8,946,638      1.28
Frank J. McKenna              691,936,194     99.36          4,481,950      0.64
Youssef A. Nasr               694,597,233     99.74          1,820,911      0.26
Seek Ngee Huat                694,535,811     99.73          1,882,333      0.27
Diana L. Taylor               690,030,707     99.08          6,387,437      0.92

Management received a proxy from the holder of Class B shares to vote all 85,120 Class B shares for each of the eight directors nominated for election by this shareholder class, namely Jeffrey Blidner, Jack Cockwell, Bruce Flatt, Robert Harding, David Kerr, Philip Lind, Lord O'Donnell and George Taylor.