Mr. Alper Daglioglu reports

BROOKFIELD SELECTED BY NUCLEAR LIABILITIES FUND FOR MULTI-DECADE INVESTMENT MANDATE

Brookfield Asset Management Ltd. has been selected by the Nuclear Liabilities Fund (NLF) to manage a long-term, multiasset investment mandate, with an initial $1-billion commitment.

The mandate will be managed by Brookfield's Investment Solutions Group (ISG). Building on Brookfield's long-standing experience developing customized solutions for institutional investors, ISG draws on the investment capabilities across Brookfield to construct portfolios tailored to clients' specific objectives, risk parameters and investment horizons. ISG is chaired by Oaktree co-chairman Howard Marks and led by Alper Daglioglu.

NLF's portfolio will invest globally across Brookfield's infrastructure, energy, private equity, real estate and private credit strategies. Investments are expected to include a combination of fund commitments, direct investments and co-investments.

The partnership has been structured around the distinctive long-term nature of NLF's liabilities associated with decommissioning eight of the United Kingdom's nuclear power stations. By aligning the investment horizon of the portfolio with NLF's multidecade financing requirements, the mandate is designed to support long-term capital growth and compounding of investment returns over an extended period, with the goal of helping NLF meet future decommissioning costs.

For NLF, the mandate supports its purpose to invest assets responsibly so that future decommissioning costs can be met without unnecessary reliance on taxpayers. The portfolio will emphasize disciplined capital allocation, with investment proceeds expected to be reinvested into new opportunities over time rather than routinely distributed, enabling capital to remain invested across market cycles and seeking to enhance long-term net investment outcomes.

Mr. Daglioglu, head of Brookfield's Investment Solutions Group, said: "NLF has an exceptionally long investment horizon, and that creates an opportunity to invest differently. Our partnership is built on a shared belief in long-term thinking, disciplined capital allocation and the power of compounding over decades. We will draw on the breadth of Brookfield capabilities to customize a portfolio around NLF's specific objectives and continue to evolve that portfolio as opportunities and needs change over time. We are honoured by the trust NLF has placed in us and recognize the responsibility that comes with this mandate."

Melissa Hope, chief executive officer of the Nuclear Liabilities Fund, said: "Our mandate is to ensure that sufficient assets are available to meet the future costs of decommissioning eight of the U.K.'s nuclear power stations. Following a competitive selection process, Brookfield stood out for its depth of global investment capability, long-term perspective and disciplined approach to portfolio construction and governance. This partnership is designed to support our obligations over a multidecade horizon and Brookfield's breadth of capabilities, long-term investment approach and experience investing through multiple market cycles make them a natural partner for this important mandate. We look forward to working together in the years ahead."

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, energy, 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 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 draws 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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