Ms. Claire Holland reports

BROOKFIELD COMPLETES C$300 MILLION PREFERRED SHARE ISSUE

Brookfield Asset Management Inc. has completed its previously announced Class A preference shares, Series 46, issue in the amount of $300-million. The offering was underwritten on a bought deal basis by a syndicate led by TD Securities Inc. and Scotiabank.

The preferred shares, Series 46, were issued at a price of $25 per share, for gross proceeds of $300-million. Holders of the Series 46 shares will be entitled to receive a cumulative quarterly fixed dividend yielding 4.8 per cent annually for the initial period ending March 31, 2022. 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 3.85 per cent, and (ii) 4.8 per cent. The Series 44 shares will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BAM.PF.I. The preferred shares, Series 46, 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 Asset Management is a leading global alternative asset manager with approximately $250-billion (U.S.) in assets under management.