An anonymous director reports

PARTNERS VALUE INVESTMENTS SUCCESSFULLY COMPLETES PLAN OF ARRANGEMENT

Partners Value Investments LP and Partners Value Investments Inc. (PVII) have successfully completed the previously announced transaction with Partners Ltd. that was implemented by way of a court-approved plan of arrangement.

Pursuant to the plan of arrangement, distributions were declared with a record date of Nov. 24, 2023, and a payment date of Nov. 27, 2023, on the Partners Value Investments Class A preferred limited partnership units: (a) Series 1 in an amount equal to 7.40 U.S. cents per preferred unit, Series 1; (b) Series 2 in an amount equal to 6.58 U.S. cents per preferred unit, Series 2; (c) Series 3 in an amount equal to 6.58 U.S. cents per preferred unit, Series 3; and (d) Series 4 in an amount equal to 6.58 U.S. cents per preferred unit, Series 4.

In addition:

• Each holder of equity limited partnership units of the partnership will receive (a) one Class A exchangeable limited voting share of Brookfield Reinsurance Ltd. for every 100 equity units of the partnership, (b) one Class A-1 exchangeable non-voting share of Brookfield Reinsurance for every 10.4058 equity units of the partnership and (c) one Class A preferred share, Series 1, of PVII for each equity unit of the partnership held, the details of which will be posted on the partnership's website;
• The outstanding share purchase warrants of PVII were adjusted in accordance with the terms of the warrant indenture between PVII and TSX Trust Company dated Nov. 27, 2023, to reflect the economic impact of the distribution on the warrants such that on payment of the adjusted exercise price of the warrants of $29.34 per five warrants, holders will receive 1.106 exchangeable shares of PVII.

Additional information and where to find it

For further details concerning the plan of arrangement, please consult the joint management information circular of Partners Value Investments and PVII dated Sept. 29, 2023, as well as the news releases dated Sept. 22, 2023, and Nov. 15, 2023, each of which has been filed on Partners Value Investments' and PVII's profiles on SEDAR+.