Mr. Anuj Ranjan reports

BROOKFIELD TO INVEST $500 MILLION IN STRATEGIC PARTNERSHIP WITH OPENAI

Brookfield Asset Management Ltd. has agreed to invest $500-million in The OpenAI Deployment Company, a newly formed artificial intelligence deployment platform established in partnership with OpenAI and a group of leading global investors.

The OpenAI Deployment Company is focused on enabling large enterprises to move from pilot AI use cases to scaled, enterprise-wide deployment -- accelerating large-scale adoption and addressing one of the key bottlenecks in realizing AI-driven productivity.

Anuj Ranjan, chief executive officer of Brookfield's private equity business, commented: "Artificial intelligence will be a defining driver of productivity across the backbone of the global economy. We have already seen tremendous productivity gains from AI applications across our portfolio to date. The opportunity now is execution at scale -- driving further growth and greater performance across a wider set of businesses and functions. We are pleased to partner with OpenAI to support the development of a platform that combines their leading AI technology with Brookfield's operating expertise to drive transformation across essential industrial and services businesses globally."

Brookfield Business Corp., the flagship listed vehicle of Brookfield's private equity business, will lead Brookfield's investment in the partnership. The transaction reflects Brookfield's long-standing focus on operational value creation and its position as a strategic partner to leading corporations and institutions globally. Over the past several years, Brookfield has been scaling its AI activities through a range of value creation initiatives. Building on this strategy, Brookfield expects to draw on The OpenAI Deployment Company's capabilities across its operating companies and investment platform to accelerate productivity initiatives, improve decision making and drive meaningful efficiency gains.

About Brookfield Asset Management Ltd.

Brookfield Asset is a leading global alternative asset manager, headquartered in New York, with over $1-trillion of assets under management across infrastructure, energy, private equity, real estate and credit. It 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. It 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. It draws on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles.

Brookfield Business is a global owner and operator of vital industrial and business service operations. Its objective is to acquire market-leading businesses for value, execute its operational improvement plans to increase cash flows and recycle capital to compound long-term growth.

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