Mr. Sachin Shah reports

BROOKFIELD WEALTH SOLUTIONS LAUNCHES IN THE UNITED KINGDOM

Brookfield Wealth Solutions Ltd. is entering the United Kingdom insurance market to focus on delivering bulk annuity solutions for U.K. pension schemes. This follows a comprehensive approval process carried out by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

Brookfield Wealth Solutions will bring its capital and strong record of servicing policyholders from its substantial North American operations as one of the first new entrants in the U.K. market. With over 500 billion pounds sterling of demand for pension buyouts expected over the next decade, the U.K. represents a significant opportunity to grow, create employment and invest domestically in the U.K. market.

The entry for Brookfield Wealth Solutions, which was spun out of Brookfield Corp. in June, 2021, will further extend Brookfield's presence in the U.K., where it is already a leading investor with over 63 billion pounds sterling of assets under management across infrastructure, real estate and renewable power. Brookfield and its U.K. portfolio companies employ approximately 23,000 people across the U.K.

Sachin Shah, chief executive officer, Brookfield Wealth Solutions, said: "We are thrilled to launch Brookfield Wealth Solutions in the U.K. With more than $140-billion in total assets, we look forward to serving the retirement needs of U.K. pensioners for the long term. Our group-wide commitment is to provide long-term financial security for our policyholders and clients, serviced by strong, well-capitalized companies with high-quality investment portfolios. The PRA and the FCA have been efficient, professional and highly constructive during our approval process, and we look forward to working further with them in the future."

Brookfield Wealth Solutions is expected to begin operations later in the first quarter, subject to final regulatory approvals, and will operate under the Blumont Annuity U.K. brand.

About Brookfield Wealth Solutions Ltd.

Brookfield Wealth Solutions is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Each Class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a Class A limited voting share of Brookfield Corp.

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