An anonymous director reports

PARTNERS VALUE SPLIT CORP. ANNOUNCES 2023 ANNUAL RESULTS

Partners Value Split Corp.'s net asset value per unit was $124.10 at Dec. 31, 2023 (Dec. 31, 2022: $95.95). All amounts are in U.S. dollars.

Income available for distribution for the year ended Dec. 31, 2023, was $73-million, compared with $1.0-billion in the prior year. The decrease in income was primarily attributable to the absence of the one-time special distribution received by Brookfield Corp. in the prior year. During the year ended Dec. 31, 2023, the company declared and paid dividends in the amount of $50-million (Dec. 31, 2022: $114-million) to the holders of its capital shares.

The net comprehensive income in the period of $1.4-billion was primarily driven by unrealized mark-to-market movement on the share prices of the corporation and Brookfield Asset Management Ltd. shares. The corporation share price was $40.12 as at Dec. 31, 2023 (Dec. 31, 2022: $31.46), and the manager share price was $40.17 as at Dec. 31, 2023 (Dec. 31, 2022: $28.67).

The company's capital shares and preferred shares are referred to collectively as units, with each unit consisting of one capital share and one preferred share. The net asset value per unit is posted monthly on the corporation's website.

As at Dec. 31, 2023, the company owned 120 million Class A limited voting shares of the corporation and 30 million Class A limited voting shares of the manager, which together generate cash flow through dividend payments that finance quarterly fixed cumulative preferential dividends for the holders of the company's preferred shares and provide the holders of the company's capital shares the opportunity to participate in any capital appreciation of the Brookfield shares.

Brookfield is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. This capital is allocated across three core businesses: asset management, insurance solutions and operating businesses. The corporation is listed on the New York and Toronto stock exchanges under the symbol BN and BN.TO, respectively. The company's investment in the corporation represents an approximately 8-per-cent interest in the corporation.

Brookfield Asset Management Ltd. is a leading global alternative asset manager with over $900-billion of assets under management across real estate, infrastructure, renewable power, and transition, private equity and credit as of Dec. 31, 2023. The manager is listed on the New York and Toronto stock exchanges under the symbol BAM and BAM.TO, respectively. The company's investment in the manager represents approximately an 8-per-cent interest in the manager.

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