Ms. Onaiza Ahmed reports

PARTNERS VALUE SPLIT CORP. ANNOUNCES $125,000,000 PUBLIC OFFERING OF CLASS AA PREFERRED SHARES, SERIES 18

Partners Value Split Corp. has entered into an agreement to sell five million Class AA preferred shares, Series 18, to a syndicate of underwriters led by Bank of Nova Scotia, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. on a bought deal basis.

The Series 18 preferred shares will be issued at a price of $25 per share, for gross proceeds of $125-million. The Series 18 preferred shares will carry a fixed coupon of 5.30 per cent and will have a final maturity of Sept. 29, 2033. The Series 18 preferred shares have a provisional rating of Pfd-2 from DBRS Ltd. The net proceeds of the offering will be used by the company to make distributions to the holder of the company's capital shares.

The company has granted the underwriters an option, exercisable in whole or part prior to closing, to purchase up to an additional one million Series 18 preferred shares at the same offering price, which, if exercised in full, would increase the gross offering size to $150-million. Closing of the offering is expected to occur on or about Oct. 15, 2026.

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. (BAM), 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: asset management; wealth solutions; and Brookfield's operating businesses, which are in infrastructure, energy, private equity 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, energy, private equity, real estate and credit. BAM 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. BAM 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. BAM draws on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles. BAM is listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol BAM.

Onaiza Ahmed, chief financial officer, will be available at 416-363-9491 to answer any questions regarding the offering.

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