Mr. Jason Weckwerth reports

PARTNERS VALUE SPLIT CORP. ANNOUNCES COMPLETION OF $200,000,000 PUBLIC OFFERING OF CLASS AA PREFERRED SHARES, SERIES 15

Partners Value Split Corp. has completed its previously announced offering of Class AA preferred shares, Series 15. A total of eight million Series 15 preferred shares were issued at an offering price of $25.00 per Series 15 preferred share, raising gross proceeds of $200-million. The Series 15 preferred shares carry quarterly fixed cumulative preferential dividends representing a 5.15-per-cent annualized yield on the offering price and have a final maturity of March 31, 2031. The Series 15 preferred shares have been listed and posted for trading on the Toronto Stock Exchange under the symbol PVS.PR. M.

The net proceeds of the offering will be used by the company to pay a special dividend on 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 120 million Class A limited voting shares of Brookfield Corp. and approximately 30 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 Corp. is a leading global investment firm focused on building long term-wealth for institutions and individuals around the world. Brookfield Corp. 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 Corp. is listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol BN.

Brookfield Asset Management Ltd. (BAM) is a leading global alternative asset manager, headquartered in New York, with approximately $1-trillion (U.S.) of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. BAM's objective is to generate attractive, long-term risk-adjusted returns for the benefit of its clients and shareholders. BAM is listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol BAM.

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

We seek Safe Harbor.