Mr. Jason Weckwerth reports

PARTNERS VALUE SPLIT CORP. ANNOUNCES COMPLETION OF US$125,000,000 PUBLIC OFFERING OF CLASS AA PREFERRED SHARES, SERIES 17

Partners Value Split Corp. has completed its previously announced offering of Class AA preferred shares, Series 17. A total of five million Series 17 preferred shares were issued at an offering price of $25 (U.S.) per Series 17 preferred share, raising gross proceeds of $125-million (U.S.). The issuance included one million Series 17 preferred shares issued pursuant to the exercise, in full, of the underwriters option granted by the company to the underwriters in the offering. The Series 17 preferred shares carry quarterly fixed cumulative preferential dividends representing a 5.25-per-cent annualized yield on the offering price and have a final maturity of Jan. 31, 2033. The Series 17 preferred shares have been listed and posted for trading on the Toronto Stock Exchange under the symbol PVS.PR.V.

The net proceeds of the offering will be used by the company to make distributions to the holder of the company's capital shares.

Prior to the closing of the offering, the company subdivided the existing capital shares held by Partners Value Investments Inc. so that there are an equal number of preferred shares and capital shares outstanding.

The company owns a portfolio consisting of approximately 179 million Class A limited voting shares of Brookfield Corp. and approximately 25 million Class A limited voting shares of Brookfield Asset Management Ltd., 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 securities.

Brookfield is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. Brookfield has three core businesses: alternative asset management, wealth solutions, and its operating businesses which are in renewable power, infrastructure, business and industrial services, and real estate. Brookfield is listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol BN.

Brookfield Asset Management is a leading global alternative asset manager, headquartered in New York, with over $1-trillion (U.S.) of assets under management across infrastructure, renewable power and transition, private equity, real estate, and credit. Brookfield Asset Management 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. Brookfield Asset Management 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 Asset Management is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol BAM.

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