An anonymous director reports

PARTNERS VALUE SPLIT CORP. TO PARTIALLY REDEEM ITS CLASS AA PREFERRED SHARES, SERIES 8

Partners Value Split Corp. intends to redeem 1,975,000 of its outstanding Class AA preferred shares, Series 8, for cash on May 31, 2024 (the redemption date), in accordance with the terms of the preferred shares, Series 8. The preferred shares, Series 8, being called for redemption represent approximately 32.92 per cent of all outstanding preferred shares, Series 8, of the company.

The preferred shares, Series 8, will be partially redeemed on a pro rata basis, so that each holder of preferred shares, Series 8, of record at the close on May 22, 2024 (the record date), will have approximately 32.92 per cent of their preferred shares, Series 8. redeemed.

The redemption price per preferred share, Series 8. being redeemed will be equal to $25.00 per share (the redemption price). Separately from the redemption price, the quarterly cash dividend of 30 cents per share to May 31, 2024, will be paid in the usual manner on June 7, 2024, to holders of preferred shares, Series 8, of record on May 22, 2024, including those whose preferred shares, Series 8, were redeemed on May 31, 2024. Holders of preferred shares, Series 8, are entitled on a partial redemption to a redemption price equal to $25.00 plus accrued and unpaid dividends. For greater certainty, such accrued and unpaid dividends will only be paid once per preferred share, Series 8, on June 7, 2024.

On the completion of the partial redemption herein, the remaining 4,024,300 unredeemed preferred shares, Series 8, will remain issued and outstanding in accordance with their terms.

Notice will be delivered to holders of the preferred shares, Series 8, in accordance with the terms of the preferred shares, Series 8.

From and after the redemption date, the preferred shares, Series 8, called for redemption will cease to be entitled to dividends or any other participation in any distribution of the assets of the company and the holders thereof shall not be entitled to exercise any of their other rights as shareholders in respect thereof except to receive the redemption price (less any tax required to be deducted and withheld by the company). After the partial redemption of the preferred shares, Series 8, the company will consolidate the existing capital shares held by Partners Value Investments Inc. so that there are an equal number of preferred shares and capital shares outstanding.

About Partners Value Split Corp.

The company owns a portfolio consisting of approximately 119 million Class A limited voting shares of Brookfield Corp. and approximately 30 million Class A limited voting shares of Brookfield Asset Management Ltd. (collectively, the Brookfield shares), which are expected to yield quarterly dividends that are sufficient to finance quarterly fixed cumulative preferential dividends for the holders of the company's preferred shares and to enable the holders of the company's capital shares to participate in any capital appreciation of the Brookfield shares. Brookfield Corp. 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. Brookfield Corp. is listed on the New York and Toronto stock exchanges under the symbol BN and BN.TO respectively. The company's investment in Brookfield Corp. represents approximately an 8-per-cent interest. Brookfield Asset Management is a leading global alternative asset manager with over $925-billion of assets under management across real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbol BAM and BAM.TO, respectively. The company's investment in Brookfield Asset Management represents approximately an 8-per-cent interest.

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