Mr. Bruce Flatt reports

BROOKFIELD AND QAI FORM $20 BILLION STRATEGIC INVESTMENT PARTNERSHIP FOR AI INFRASTRUCTURE

Brookfield and Qai, Qatar's AI company and a subsidiary of Qatar Investment Authority (QIA), have formed a strategic partnership to establish a $20-billion joint venture focused on artificial intelligence (AI) infrastructure in Qatar and select international markets.

Under the partnership, Brookfield and Qai will contribute capital and operating expertise to invest in AI infrastructure in Qatar, including the development of fully integrated AI facilities, to support the country's rapidly expanding digital and AI ecosystem. The partnership will benefit from strategic support from the government of Qatar to invest in the skills and supply chain needed to support the backbone of AI infrastructure and the adoption of AI throughout Qatar.

The $20-billion joint venture is expected to play a central role in supporting Qatar's ambition to become a leading hub for AI services and infrastructure in the Middle East. An integrated compute centre will expand regional access to high-performance compute and enable the deployment of trusted AI technologies across key sectors. Beyond Qatar, Brookfield and Qai will explore opportunities to co-develop and construct AI infrastructure in select international markets.

Brookfield and its partners plan to invest in this venture through the recently launched Brookfield Artificial Intelligence Infrastructure Fund (BAIIF). The strategic partnership with Qai will form a cornerstone of Brookfield's global AI infrastructure program, which aims to mobilize up to $100-billion of total investment globally.

Mohammed Saif Al-Sowaidi, chief executive officer of QIA, said: "QIA has been at the forefront of driving advancement through our AI investments. This joint venture is testament to QIA's commitment to delivering both local and global impact. Leveraging on the long-term partnership we have with Brookfield, this JV will advance Qatar's National Vision 2030 and help build a diversified, innovation-based economy for future generations."

Abdulla Al-Misnad, chairman of Qai, said: "This partnership with Brookfield marks an important milestone in Qatar's journey to build world-class AI infrastructure and capabilities. By leveraging Brookfield's expertise in developing and managing critical infrastructure alongside Qai's mission to deliver trusted AI solutions, we are creating a robust platform to drive responsible AI adoption. This collaboration will not only attract investment and top-tier talent but also strengthen Qatar's position as a trusted hub for advanced digital technologies in the region and beyond."

Bruce Flatt, chief executive officer of Brookfield, commented: "We are thrilled to assist Qatar in establishing this investment in next-generation AI and digital infrastructure alongside Qai. As our inaugural AI infrastructure investment in the Middle East, this partnership combines Qatar's strategic vision with Brookfield's global expertise in developing and operating large-scale, mission-critical infrastructure with global partners. Together, we look forward to building an integrated AI ecosystem that will accelerate innovation, deepen regional capability and support the responsible deployment of advanced AI technologies across the Middle East."

About Brookfield Asset Management Ltd.

Brookfield Asset Management is a leading global alternative asset manager, headquartered in New York, with over $1-trillion of assets under management across infrastructure, renewable power and transition, private equity, real estate and credit. The company invests client capital for the long term, with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield Asset Management offers a range of alternative investment products to investors around the world -- including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors. The company draw on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles.

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