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2026 Brookfield Asset Management Q2 SUPPLEMENTAL INFORMATION Brookfield THREE MONTHS ENDED JUNE 30 , 2026
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2BROOKFIELD.COM Brookfield Asset Management Overview BAM is a leading alternative asset manager with a more than 25-year track record of delivering strong, risk-adjusted returns by investing in high-quality assets, forming the backbone of the global economy $1.3T 1,400+ ~250K Fee-Bearing Capital $672B Assets Under Management Investment Professionals Countries Operating Employees 50+ Infrastructure Real Estate Private Equity Credit $74B $114B $104B $54B $326B Our Businesses by Fee-Bearing Capital The financial information contained in this supplement is presented in U.S. dollars and, unless otherwise indicated, all references to "$" are to U.S. dollars. Totals and sub-totals may not tie due to rounding. Q2 2026 BAM Supplemental Energy
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3BROOKFIELD.COM $163B LTM Fundraising $77B Q2-26 Capital Raised Record Capital Activity Well Positioned in the Current Market Robust Earnings and Record Capital Activity $808M Q2-26 Fee-Related Earnings (FRE) Second Quarter 2026 Highlights Q2 2026 BAM Supplemental $98B Year-to-Date Fundraising $3.2B Q2-26 LTM FRE 20% / 19% Q2-26 / LTM FRE YoY Growth Well positioned in the current market with a resilient portfolio of real assets that outperform in uncertainty, growth tailwinds in AI, energy, and opportunistic credit, and deep but diverse fundraising channels Resilient Portfolio Growth Tailwinds Strategic Partnerships Real assets outperform in uncertainty Poised to capitalize on secular growth in AI, energy, and opportunistic credit Strengthening partnerships with companies defining the next decade
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4BROOKFIELD.COM Q2 FRE of $808 million ($0.50 / share), up 20% from the prior year quarter • FRE of $3.2 billion ($1.97 / share) over the last twelve months, up 19% from the prior year period • Growth driven by record fundraising, including inflows into flagship strategies and the Just Group investment mandate, continued capital deployment across our complementary strategies, and higher capitalization of our affiliates Q2 DE of $707 million ($0.44 / share), up 15% from the prior year quarter • DE of $2.8 billion ($1.75 / share) over the last twelve months, up 12% from the prior year period • Growth driven by higher FRE, partially offset by higher interest expense compared to the prior year FRE margin at our share of 57% in the quarter and 58% over the last twelve months, up 1% compared to prior year periods for both Q2 2026 BAM Supplemental FOR THE PERIODS ENDED JUN. 30 (MILLIONS, EXCEPT PER SHARE AMOUNTS) Last Three Months Last Twelve Months Q2-26 Q2-25 Variance Q2-26 Q2-25 Variance Fee Revenues $ 1,494 $ 1,285 16 % $ 5,822 $ 5,030 16 % Direct Costs (664) (590) 13 % (2,533) (2,241) 13 % Total Fee-Related Earnings 830 695 19 % 3,289 2,789 18 % Amounts not attributable to BAM1 (22) (19) 16 % (88) (94) (6) % Fee-Related Earnings (FRE) $ 808 $ 676 20 % $ 3,201 $ 2,695 19 % FRE Margin at Our Share2 57 % 56 % 1 % 58 % 57 % 1 % Distributable Earnings (DE) $ 707 $ 613 15 % $ 2,837 $ 2,535 12 % Per share Fee-Related Earnings $ 0.50 $ 0.42 $ 0.08 $ 1.97 $ 1.65 $ 0.32 Distributable Earnings 0.44 0.38 0.06 1.75 1.56 0.19 Total diluted weighted average shares during the period 1,612.5 1,628.2 (15.7) 1,622.3 1,629.8 (7.5) See glossary and endnotes. For a full calculation of FRE, DE, and Margin, see pages 26 and 27 Financial Performance Over the Quarter and Last Twelve Months
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5BROOKFIELD.COM ■ Credit ■ Real Estate ■ Private Equity ■ Energy ■ Infrastructure FRE Growth from Our Stable Revenue Base $1,285 $1,390 $1,512 $1,426 $1,494 315 335 330 357 357 197 234 225 217 224113 110 227 125 145261 256 255 262 259 399 455 475 465 509 56% 58% 61% 57% 57% Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Fee Revenues (MILLIONS) $676 $754 $867 $772 $808 $613 $661 $767 $702 $707 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Fee-Related Earnings (FRE) and Distributable Earnings (DE) (MILLIONS) $1.5B Q2 Fee Revenues increased 16% compared to the prior year quarter $808M Q2 Fee-Related Earnings increased 20% compared to the prior year quarter $707M Q2 Distributable Earnings increased 15% compared to the prior year quarter ■ FRE ■ DE Q2 2026 BAM Supplemental FRE Margin
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6BROOKFIELD.COM Our Fee-Bearing Capital Continues to Scale 100 114 64 7443 54102 104 254 326 $563B $672B Q2-25 Inflows Outflows Distributions Market Valuation Other Q2-26 Fee-Bearing Capital has grown 19% over the last twelve months, driven by: • Inflows: $105 billion of fundraising during the period that became fee-bearing capital, as well as $31 billion associated with deployment of prior uncalled commitments not previously included • Outflows: Capital returned to investors from our liquid credit strategies and insurance strategies • Distributions: Includes dividends from permanent capital vehicles and capital returned to clients on long-term private funds and perpetual strategies • Market Valuation: Primarily due to increases in the market capitalizations of our permanent capital vehicles and higher market value of perpetual strategies and liquid credit products • Other: Represents changes in debt at affiliates, rolling off of investment and commitment periods for funds, and foreign exchange impacts 44% 14% 30% 12% $135 $(25) $(27) $25 19% Growth $0- 3 4 ■ Infrastructure ■ Energy ■ Private Equity ■ Real Estate ■ Credit See glossary and endnotes Totals and sub-totals may not tie due to rounding 88% of Fee-Bearing Capital (FBC) is Long-Term, Permanent or Perpetual $672B ■ Long-Term Private Funds ■ Permanent Capital Vehicles5 ■ Perpetual Strategies ■ Liquid Strategies Fee-Bearing Capital Composition FBC Fee-Bearing Capital Q2 2026 BAM Supplemental $136
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7BROOKFIELD.COM Our Strongest Fundraising Quarter Fuels Growth Raised a record $77 billion in the second quarter, primarily driven by the Just Group mandate ($40 billion) and strong Private Equity and Infrastructure flagship momentum ($16 billion) $22 $30 $35 $21 $77 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Total Capital Raised (BILLIONS) ■ Infrastructure ■ Energy ■ Private Equity ■ Real Estate ■ Credit Q2 2026 BAM Supplemental See glossary and endnotes • $12.7 billion across our infrastructure and energy businesses, including $9.3 billion raised for our infrastructure flagship strategy, $900 million for our supercore infrastructure strategy, and $900 million for our infrastructure private wealth strategy. In addition, we held a a first close for our AI infrastructure strategy, bringing total commitments to date to $5 billion • $8.6 billion in our private equity business, primarily comprised of $6.7 billion for our private equity flagship strategy and capital raised for the Middle East private equity and financial infrastructure strategies • $51.4 billion in our credit group, including $44.8 billion from Brookfield Wealth Solutions, inclusive of the $40 billion Just Group mandate and continued insurance inflows. We also raised $6 billion across Oaktree and other partner managers and $600 million for our infrastructure debt strategy Q2-26 LTM Infrastructure6 $ 10.2 $ 24.1 Flagship Funds 7.9 7.9 Other Long-Term Private Funds — 5.0 Permanent Capital and Perpetual Funds 1.5 6.1 Co-investments 0.8 5.2 Energy6 $ 2.5 $ 11.6 Flagship Funds 1.4 5.6 Other Long-Term Private Funds 0.1 1.3 Permanent Capital and Perpetual Funds 0.7 2.5 Co-investments / Co-underwrites 0.3 2.2 Private Equity $ 8.6 $ 13.7 Flagship Funds 6.7 6.7 Other Long-Term Private Funds 0.8 5.4 Permanent Capital and Perpetual Funds 0.1 0.3 Co-investments 1.1 1.2 Real Estate $ 4.3 $ 9.9 Flagship Funds 0.7 1.0 Other Long-Term Private Funds 0.1 0.6 Permanent Capital and Perpetual Funds 0.5 4.1 Co-investments 3.0 4.2 Credit $ 51.4 $ 103.5 Partner Managers 6.0 36.1 Insurance & SMAs 44.8 62.7 Long-Term Private Funds and Co-investments7 0.6 4.7 Total Fundraising $ 77.0 $ 162.8
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8BROOKFIELD.COM • $3.3 billion across our infrastructure business, including $1.7 billion for the acquisition of a leading U.S. fiber to the home business and a $1.0 billion investment for incremental funding on construction of a U.S. semiconductor fabrication facility • $5.2 billion across our real estate business, including the acquisition of the largest privately held U.S. manufactured home portfolio and the take- private of a publicly-traded outdoor industrial storage portfolio • $10.0 billion across our credit platform, including $1.9 billion for opportunistic credit strategies and $2.3 billion across partner managers Deployed $21 billion in the second quarter, including: Total Capital Deployed (BILLIONS) Q2-26 LTM Infrastructure6 $ 3.3 $ 17.4 Long-Term Private Funds 1.1 6.2 Permanent Capital and Perpetual Funds 1.4 7.6 Co-investments 0.8 3.6 Energy6 $ 1.0 $ 3.6 Long-Term Private Funds 0.3 1.3 Permanent Capital and Perpetual Funds 0.7 2.1 Co-investments — 0.2 Private Equity $ 1.4 $ 2.9 Long-Term Private Funds 1.0 2.0 Permanent Capital and Perpetual Funds 0.4 0.8 Co-investments — 0.1 Real Estate $ 5.2 $ 12.0 Long-Term Private Funds 4.5 8.6 Permanent Capital and Perpetual Funds 0.7 3.4 Credit $ 10.0 $ 40.5 Long-Term Private Funds7 5.1 19.6 Permanent Capital and Perpetual Funds 4.8 20.4 Other — — Co-investments 0.1 0.5 Total Capital Deployed $ 20.9 $ 76.4 $14 $23 $13 $20 $21 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Robust Quarter of Capital Deployment Q2 2026 BAM Supplemental See glossary and endnotes ■ Infrastructure ■ Energy ■ Private Equity ■ Real Estate ■ Credit
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9BROOKFIELD.COM Monetizations Across the Business in the Second Quarter $12 $15 $13 $8 $11 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 • $1.2 billion across our energy business, including proceeds from the the sale of a portfolio of stabilized renewable power assets • $1.5 billion within our real estate business, including proceeds from the sale of a Korean office complex • $1.5 billion within our private equity business, including proceeds from the sale of a specialized engineering firm • $6.2 billion across our credit platform, including $1.6 billion across our opportunistic credit strategies Total Equity Monetizations (BILLIONS) Monetized $11 billion in the second quarter, including: Q2-26 LTM Infrastructure6 $ 0.4 $ 8.5 Long-Term Private Funds 0.4 6.8 Permanent Capital and Perpetual Funds — 0.3 Co-investments — 1.4 Energy6 $ 1.2 $ 6.5 Long-Term Private Funds 1.2 5.8 Permanent Capital and Perpetual Funds — — Co-investments — 0.7 Private Equity $ 1.5 $ 3.4 Long-Term Private Funds 1.4 3.3 Permanent Capital and Perpetual Funds — — Co-investments 0.1 0.1 Real Estate $ 1.5 $ 8.9 Long-Term Private Funds 1.2 8.3 Permanent Capital and Perpetual Funds 0.2 0.4 Co-investments 0.1 0.2 Credit $ 6.2 $ 19.3 Long-Term Private Funds7 6.2 18.6 Permanent Capital and Perpetual Funds — 0.7 Co-investments — — Total Equity Monetizations $ 10.8 $ 46.5 ■ Infrastructure ■ Energy ■ Private Equity ■ Real Estate ■ Credit Q2 2026 BAM Supplemental See glossary and endnotes
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10BROOKFIELD.COM $24B $29B $27B $27B $42B Uncalled Fund Commitments $149B Uncalled Commitments We have significant uncalled fund commitments, ready to deploy into attractive, risk-adjusted investment opportunities Q2 2026 BAM Supplemental $680M Approximate additional revenue generated once the $68 billion of uncalled fund commitments is deployed $68B Uncalled fund commitments not currently earning fees ■ Infrastructure ■ Energy ■ Private Equity ■ Real Estate ■ Credit
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11BROOKFIELD.COM Financial Assets 5.388% Weighted Average Coupon Strong Liquidity & Asset Light Balance Sheet $3.1B We continue to maintain an asset light balance sheet, with a strong liquidity profile Q2 2026 BAM Supplemental $2.1B Investment Assets Corporate Credit Profile 12.1 Years Weighted Average Tenor $— $— $— $— $600 $550 $750 $400 $750 $— $450 Q2-2026 Financing Activity 2026202720282029203020312032203320342035203620372038203920402041+ Cash & Cash Equivalents Undrawn Revolving Credit Facility GP / Fund Investments Net Accrued Carried Interest Corporate Debt Maturity Profile (MILLIONS) $3.5B Total Corporate Debt Outstanding Corporate Liquidity As of June 30, 2026 See glossary and endnotes A / A- Corporate Ratings from Fitch / S&P Q2 Activity $550M New 4.832% Senior Notes Due 2031 $450M Re-Opened 5.298% Senior Notes Due 2036 Q2 2026 BAM Supplemental
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12BROOKFIELD.COM Expanding Leadership Through Strategic Partnerships We advanced a number of additional strategic initiatives that strengthen our competitive position, expand our distribution capabilities and reinforce our leadership across AI infrastructure, power, and private markets Q2 2026 BAM Supplemental Joint Venture Combining OpenAI's technology with our operating expertise to accelerate AI adoption in essential industrial and services businesses worldwide Strategic Capital Investment Invited to participate in Anthropic's latest fundraising round, reflecting the strategic value of our AI infrastructure platform $25B Commitment A 5x increase in the nine months since our partnership began — financing on-site fuel-cell power deployment for AI data centers $17.5B in Loans Department of Energy financing for up to 10 new Westinghouse AP1000 reactors — accelerating deployment of our nuclear platform €20B à €30B Expanded our AI infrastructure framework agreement in France by €10B to €30B The 401(k) Opportunity Providing access to alternative real asset investments within Alliance- Bernstein's target-date funds, a transformative market opportunity over the next decade
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Business Lines Q2 2026 BAM Supplemental
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14BROOKFIELD.COM Private Perpetual Strategies Perpetual Supercore Infrastructure Private fund investing in core infrastructure in developed markets Infrastructure Income Fund Evergreen private wealth fund investing primarily in a portfolio of high-quality private infrastructure equity and debt investments Infrastructure – Overview Brookfield is one of the world’s largest infrastructure investors, owners and operators $262B Assets Under Management $114B Fee-Bearing Capital 129 Investment Professionals • Our Infrastructure business is positioned at the epicenter of the global secular trends of deglobalization, decarbonization and digitalization • Infrastructure should benefit as these large-scale changes will require trillions of dollars of investment and Brookfield’s deep experience in this area provides a significant competitive advantage in attracting future growth capital • Our investment focus is to provide clients with diversified exposure to high-quality businesses that benefit from significant barriers to entry and deliver essential goods and services. Infrastructure investments generate stable, inflation-protected cash flows, high margins and strong growth prospects • Electricity and gas connections, natural gas pipelines and electricity lines • Rail operations, toll roads, terminal and export facilities involved in the movement of freight, commodities and passengers • Transmission pipelines, natural gas process plants and natural gas storage • Telecom towers / active rooftop sites, fiber optic cable and data centers Long-Term Private Funds Infrastructure Core Plus ("BIF") Closed-end flagship funds series focused on global infrastructure opportunities Infrastructure Structured Solutions Closed-end fund focused on partnering with sponsors, developers, and corporates in the mid-market in the form of both structured and common minority equity investments Artificial Intelligence Infrastructure Closed-end fund focused on the development of AI infrastructure, designed to meet the growing demand from hyperscalers, enterprises, and governments for scalable, integrated solutions Permanent Capital Vehicles Brookfield Infrastructure Partners ("BIP"/"BIPC") The largest, pure-play, publicly traded global infrastructure platforms, providing investors access to a liquid and diversified portfolio of best-in-class infrastructure businesses Transport Midstream Data CentersUtilities Overview Asset Types Products Q2 2026 BAM Supplemental Artificial Intelligence
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15BROOKFIELD.COM Infrastructure – Q2 2026 Results Fee-Bearing Capital FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Three Months Last Twelve Months Q2-26 Q2-25 Variance Q2-26 Q2-25 Variance Base management fees Flagship Funds $ 92 $ 91 $ 1 $ 366 $ 367 $ (1) Other Long-Term Funds and Co-investments9 2 — 2 5 — 5 Long-Term Private Funds 94 91 3 371 367 4 BIP 111 105 6 432 409 23 Other Perpetual Funds and Co-investments 61 39 22 206 151 55 Permanent Capital and Perpetual Strategies 172 144 28 638 560 78 Total Base Management Fees 266 235 31 1,009 927 82 Catch-up Fees and Other Items — — — — 1 (1) Incentive Distributions 87 80 7 334 308 26 Transaction and Advisory Fees 4 — 4 36 1 35 Total Fee Revenues $ 357 $ 315 $ 42 $ 1,379 $ 1,237 $ 142 Fee Revenues AS OF THE PERIODS ENDED JUN. 30 (BILLIONS) Q2-26 Q2-25 Variance BIF Series (Flagship Fund) $ 35 $ 34 $ 1 Other Long-Term Funds and Co-investments9 16 11 5 Long-Term Private Funds 51 45 6 BIP 36 34 2 Other Perpetual Funds and Co-investments 27 21 6 Permanent Capital and Perpetual Strategies 63 55 8 Total Infrastructure $ 114 $ 100 $ 14 See glossary and endnotes Q2 2026 BAM Supplemental
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16BROOKFIELD.COM Energy – Overview Brookfield is one of the largest energy investors, owners and operators globally • Our Energy business complements global goals of energy security, low-cost energy, and net-zero emissions • Our Energy business should benefit as growing global demand for energy security and low- carbon energy will require substantial continued investment. Our large footprint, extensive experience and substantial pipeline give us unique industry knowledge and differentiate us as a strategic capital partner • Our investment focus is to provide clients with exposure to critical sources of clean energy and energy transition with attractive risk-adjusted returns Long-Term Private Funds Global Transition ("BGTF") Closed-end flagship fund series focused on global renewable energy and transition Catalytic Transition Fund Brookfield’s primary vehicle for accelerating investment into decarbonization solutions in chronically underinvested emerging markets Permanent Capital Vehicles Brookfield Renewable Partners ("BEP"/"BEPC") One of the largest, publicly traded renewable power and sustainable solutions platforms, providing clients a liquid and diversified portfolio of decarbonization investments $144B Assets Under Management $74B Fee-Bearing Capital 101 Investment Professionals Hydro Solar Distributed Generation Wind Overview Asset Types Products Q2 2026 BAM Supplemental Batteries Sustainable Solutions
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17BROOKFIELD.COM AS OF THE PERIODS ENDED JUN. 30 (BILLIONS) Q2-26 Q2-25 Variance BGTF Series (Flagship Fund) $ 25 $ 21 $ 4 BIF Series Energy Allocation (Flagship Fund) 6 10 (4) Other Long-Term Funds and Co-investments 8 7 1 Long-Term Private Funds 40 38 1 BEP 31 24 7 Other Perpetual Funds and Co-investments 4 2 2 Permanent Capital and Perpetual Strategies 35 27 8 Total Energy $ 74 $ 65 $ 9 Energy – Q2 2026 Results FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Three Months Last Twelve Months Q2-26 Q2-25 Variance Q2-26 Q2-25 Variance Base Management Fees Flagship Funds $ 76 $ 81 $ (5) $ 326 $ 294 $ 32 Other Long-Term Funds and Co-investments 12 5 7 56 7 49 Long-Term Private Funds 88 86 2 382 301 81 BEP 77 56 21 268 210 58 Other Perpetual Funds and Co-investments 15 10 5 48 31 17 Permanent Capital and Perpetual Strategies 92 66 26 316 241 75 Total Base Management Fees 180 152 28 698 542 156 Catch-up Fees and Other Items 2 6 (4) 40 16 24 Incentive Distributions 41 36 5 157 137 20 Transaction and Advisory Fees 1 3 (2) 5 14 (9) Total Fee Revenues $ 224 $ 197 $ 27 $ 900 $ 709 $ 191 Fee Revenues Fee-Bearing Capital Q2 2026 BAM Supplemental
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18BROOKFIELD.COM Private Equity – Overview Brookfield is one of the most experienced private equity investors globally Permanent Capital Strategies Brookfield Business Corporation ("BBUC") Publicly traded global business services and industrials company focused on owning and operating high quality providers of essential products and services $166B Assets Under Management $54B Fee-Bearing Capital 148 Investment Professionals Financial Infrastructure Business Services Infrastructure Services Technology Services Overview Asset Types • Our Private Equity platform seeks to invest in high-quality businesses that provide essential products and services and are resilient through market cycles • Our investment focus is to acquire industrials and essential business services on a value basis where we can leverage our operational expertise, knowledge and relationships to enhance business performance, transform their operations, and drive free cash flow generation • Private Equity benefits from our large global footprint and the broader Brookfield ecosystem to surface investment opportunities Products Q2 2026 BAM Supplemental Industrials Private Perpetual Strategies Brookfield Private Equity Evergreen semi-liquid fund offering individual investors streamlined, diversified access to Brookfield’s global private equity platform through a single vehicle Long-Term Private Funds Opportunistic Private Equity ("BCP") Closed-end flagship fund series focused on opportunistic private equity Special Investments Focused on providing flexible capital to businesses through highly structured capital solutions Venture Secondaries Invests in portfolios of high-conviction private technology companies through customized secondary solutions Regional Private Equity Focused on providing control and non-control investments within the Gulf Cooperation Council Thematic Private Equity Focused on investing in asset-light financial infrastructure companies that underpin the global financial system
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19BROOKFIELD.COM Private Equity – Q2 2026 Results Fee Revenues FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Three Months Last Twelve Months Q2-26 Q2-25 Variance Q2-26 Q2-25 Variance Base management fees Flagship Funds $ 46 $ 39 $ 7 $ 162 $ 159 $ 3 Other Long-Term Funds10 56 43 13 216 170 46 Co-investments 2 2 — 10 9 1 Long-Term Private Funds 104 84 20 388 338 50 BBUC 28 22 6 110 91 19 Permanent Capital and Perpetual Strategies 28 22 6 110 91 19 Total Base Management Fees 132 106 26 498 429 69 Catch-up Fees and Other Items 9 — 9 9 1 8 Performance Fees11 1 — 1 98 — 98 Transaction and Advisory Fees 3 7 (4) 3 22 (19) Total Fee Revenues $ 145 $ 113 $ 32 $ 608 $ 452 $ 156 Fee-Bearing Capital AS OF THE PERIODS ENDED JUN. 30 (BILLIONS) Q2-26 Q2-25 Variance BCP Series (Flagship Fund) $ 15 $ 12 $ 3 Other Long-Term Funds10 21 16 5 Co-investments 8 8 — Long-Term Private Funds 44 36 8 BBUC 9 7 2 Permanent Capital and Perpetual Strategies 9 7 2 Total Private Equity $ 54 $ 43 $ 11 See glossary and endnotes Q2 2026 BAM Supplemental
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20BROOKFIELD.COM Real Estate – Overview Brookfield is one of the largest real estate investors with a diversified portfolio in the world’s most well-established markets • Our Real Estate business seeks to build a diversified portfolio across property sectors • We have built permanent operating platforms in our target markets, allowing us to execute on opportunities across the globe • Our real estate strategies offer investors multiple access points along the risk-return spectrum• Office properties in key global gateway cities • Centrally located retail/entertainment properties • Hotel properties in high-barrier markets • Other property types including multifamily, life sciences, industrial/logistics Long-Term Private Funds Real Estate Opportunistic ("BSREP") Closed-end flagship fund series focused on global opportunistic real estate Real Estate Secondaries Focused on providing liquidity solutions for real estate GPs and LPs by accessing high-quality properties at a discount to long-term intrinsic value Real Estate Value-Add ("BREVA-H") Value add strategy focused on the housing sector Permanent Capital Vehicles Brookfield Property Group ("BPG") Privately held, highly diversified global portfolio comprised of the highest quality office and retail complexes, managed on behalf of Brookfield Corporation $280B Assets Under Management $104B Fee-Bearing Capital 278 Investment Professionals Private Perpetual Strategies Perpetual Core Plus Real Estate Focused on well-located properties in major U.S. markets within logistics, multifamily, office, alternative and other sectors, with complementary regionally focused strategies in Australia and Europe Brookfield REIT A public, non-listed perpetual life vehicle that invests in income-producing real estate property and real estate-related debt and securities Housing Retail HospitalityLogistics, Storage & NNN Science & InnovationOffice Overview Products Q2 2026 BAM Supplemental Asset Types
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21BROOKFIELD.COM Real Estate – Q2 2026 Results Fee Revenues Fee-Bearing Capital FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Three Months Last Twelve Months Q2-26 Q2-25 Variance Q2-26 Q2-25 Variance Base Management Fees Flagship Funds $ 123 $ 130 $ (7) $ 494 $ 484 $ 10 Co-investments and Other Long-term Funds12 52 56 (4) 216 220 (4) Long-Term Private Funds 175 186 (11) 710 704 6 BPG 51 48 3 202 208 (6) Other Perpetual Funds and Co-investments13 26 23 3 100 76 24 Permanent Capital and Perpetual Strategies 77 71 6 302 284 18 Total Base Management Fees 252 257 (5) 1,012 988 24 Catch-up Fees and Other Items 7 4 3 11 88 (77) Transaction and Advisory Fees — — — 9 — 9 Total Fee Revenues $ 259 $ 261 $ (2) $ 1,032 $ 1,076 $ (44) AS OF THE PERIODS ENDED JUN. 30 (BILLIONS) Q2-26 Q2-25 Variance BSREP Series (Flagship Fund) $ 43 $ 44 $ (1) Other Long-Term Funds12 15 15 — Co-investments 16 14 2 Long-Term Private Funds 74 74 1 BPG 19 18 1 Other Perpetual Funds and Co-investments13 11 10 1 Permanent Capital and Perpetual Strategies 30 28 2 Total Real Estate $ 104 $ 102 $ 2 See glossary and endnotes Q2 2026 BAM Supplemental
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22BROOKFIELD.COM 44%51% 5% • Our Credit business offers clients access to one of the most comprehensive global alternative credit platforms • Credit includes infrastructure debt, real estate debt, senior mezzanine real estate debt, insurance capital allocated into credit products, and other Brookfield credit-related products • Credit also includes partnerships with leading credit managers where we have a significant non- controlling ownership stake, including Oaktree, Castlelake, LCM, Primary Wave, 17Capital and Angel Oak ■ Private and Opportunistic Credit ■ Liquid Credit ■ Other Credit Overview Credit – Overview Brookfield credit strategies include our longstanding private credit funds and our partnerships with leading credit managers Long-Term Private Funds Opportunistic Credit ("Opps") Closed-end flagship fund series focused on opportunistic credit Global Private Debt Spans the private credit universe, lending on a senior or junior basis to a wide variety of independent or private equity owned companies Infrastructure Debt Debt fund series focused on mezzanine debt investments Real Estate Debt Focused on originating, investing in and actively managing a portfolio of mezzanine loans and junior participations in first mortgage loans Permanent Capital Vehicles and Private Perpetual Strategies Oaktree Specialty Lending Corporation A publicly traded business development company that provides investors access to Oaktree’s lending credit platform Insurance Capital Manages insurance capital for policyholders through reinsurance agreements and directly through policies $416B Assets Under Management $326B Fee-Bearing Capital 726 Investment Professionals14 Products See glossary and endnotes Fee-Bearing Capital Credit Portfolio 78% 17% 5% Q2 2026 BAM Supplemental LTM Fee Revenues
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23BROOKFIELD.COM Credit – Q2 2026 Results Fee Revenues FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Three Months Last Twelve Months Q2-26 Q2-25 Variance Q2-26 Q2-25 Variance Base Management Fees Long-Term Private Funds $ 288 $ 226 $ 62 $ 1,113 $ 859 $ 254 Permanent Capital and Perpetual Strategies 150 111 39 519 444 75 Liquid Strategies 71 62 9 272 252 20 Total Base Management Fees 509 399 110 1,904 1,555 349 Transaction and Advisory Fees — — — — 1 (1) Total Fee Revenues $ 509 $ 399 $ 110 $ 1,904 $ 1,556 $ 348 See glossary and endnotes Totals and sub-totals may not tie due to rounding. AS OF THE PERIODS ENDED JUN. 30 (BILLIONS) Q2-26 Q2-25 Variance Opps Series (Flagship Fund)15 $ 24 $ 23 $ 1 Private Credit16 48 39 9 Structured Credit and Other 17 14 3 Long-Term Private Funds 89 76 13 Opportunistic Credit17 3 2 1 Private Credit18 68 47 21 Perpetual Liquid Credit19 84 57 27 Permanent Capital and Perpetual Strategies 155 106 49 Liquid Credit 81 71 10 Liquid Strategies 81 71 10 Total Credit $ 326 $ 253 $ 73 Q2 2026 BAM Supplemental Fee-Bearing Capital
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24BROOKFIELD.COM 56%38% 6% Brookfield Wealth Solutions FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Three Months Q2-26 Q2-25 Variance Base Management Fees Fees from IMAs $ 92 $ 57 61 % Fees from Investments 23 14 64 % Total Fee Revenues $ 114 $ 71 61 % Fee Revenues (Millions) Note: Figures presented on this slide are details of the capital we manage on behalf of BWS and are already incorporated in the prior business group slides, predominantly credit. Totals and sub-totals may not tie due to rounding. FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Twelve Months Q2-26 Q2-25 Variance Base Management Fees Fees from IMAs $ 280 $ 217 29 % Fees from Investments 80 54 48 % Total Fee Revenues $ 360 $ 271 33 % $150B BWS Fee-Bearing Capital Composition (Billions) Q2 2026 BAM Supplemental Private Funds* Liquid CreditPublic Credit Cash & Cash Equivalents Private Credit Equities Private Funds We manage capital on behalf of our strategic partner, Brookfield Wealth Solutions (BWS). BWS offers a range of retirement services, wealth protection products and tailored capital solutions. BAM manages $150 billion of BWS capital and invests it in (i) liquid credit, (ii) non-fund private investment, and (iii) private funds across our five business groups Insurance assets managed on behalf of BWS earn fees subject to investment management agreements (IMAs) at a rate of 25bps. We earn additional fees on capital allocated to our long-term private funds, consistent with our standard fee structure for such strategies As we reposition the portfolio to drive higher risk-adjusted returns for BWS, we anticipate a portion of our liquid credit capital will be re-allocated to private credit and long-term private funds, the latter of which would generate incremental fees consistent with standard market rates for such strategies Non-Fund Private Investment *In addition to the 6% of BWS capital that is invested in private funds, there is $8.6 billion currently invested in liquid credit that has been committed to private funds, but not yet deployed. When deployed, 78% of this capital will begin generating incremental management fees
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Supplemental Financial Information Q2 2026 BAM Supplemental
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26BROOKFIELD.COM FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Three Months Last Twelve Months Q2-26 Q2-25 Variance Q2-26 Q2-25 Variance Base Management Fees Infrastructure $ 266 $ 235 $ 31 $ 1,009 $ 928 $ 81 Energy 182 158 24 738 558 180 Private Equity 141 106 35 506 430 76 Real Estate 259 261 (2) 1,023 1,076 (53) Credit 509 399 110 1,904 1,555 349 Incentive Distributions and Performance Fees 129 116 13 589 445 144 Transaction and Advisory Fees 8 10 (2) 53 38 15 Total Fee Revenues 1,494 1,285 209 5,822 5,030 792 Direct Costs Compensation and Benefits (463) (431) (32) (1,797) (1,643) (154) Other Expenses (201) (159) (42) (736) (598) (138) Total Direct Costs (664) (590) (74) (2,533) (2,241) (292) Total Fee-Related Earnings 830 695 135 3,289 2,789 500 Amounts not attributable to BAM1 22 19 3 88 94 (6) Fee-Related Earnings (FRE) $ 808 $ 676 $ 132 $ 3,201 $ 2,695 $ 506 Add: Investment & Other Income (Net of Interest Expense)20 (27) 14 (41) (30) 150 (180) Add: Equity-Based Compensation Costs 23 11 12 56 41 15 Less: Cash Taxes (97) (88) (9) (390) (351) (39) Distributable Earnings (DE) $ 707 $ 613 $ 94 $ 2,837 $ 2,535 $ 302 FRE as % of Pre-tax DE 100 % 96 % 99 % 93 % Fee-Related Earnings and Distributable Earnings Detail See glossary and endnotes Q2 2026 BAM Supplemental
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27BROOKFIELD.COM FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Last Three Months Last Twelve Months Notes Q2-26 Q2-25 Variance Q2-26 Q2-25 Variance Consolidated Margin Total Fee Revenues $ 1,494 $ 1,285 $ 209 $ 5,822 $ 5,030 $ 792 A Total Direct Costs (664) (590) (74) (2,533) (2,241) (292) B Total Fee-Related Earnings 830 695 135 3,289 2,789 500 C = A - B Consolidated Margin 56 % 54 % 2 % 56 % 55 % 1 % = C / A Margins at Our Share Total Fee Revenues 1,494 1,285 209 5,822 5,030 792 A Less: Fee Revenues Not Attributable to BAM1 85 80 5 337 334 3 D Total Fee Revenues at Our Share 1,409 1,205 204 5,485 4,696 789 E = A - D Total Direct Costs (664) (590) (74) (2,533) (2,241) (292) B Less: Direct Costs Not Attributable to BAM1 (63) (61) (2) (249) (240) (9) F Total Direct Costs at Our Share (601) (529) (72) (2,284) (2,001) (283) G = B - F Total Fee-Related Earnings at Our Share $ 808 $ 676 $ 132 $ 3,201 $ 2,695 $ 506 H = E + G Margin at Our Share 57 % 56 % 1 % 58 % 57 % 1 % = H / E Fee-Related Earnings Margin Detail See glossary and endnotes Q2 2026 BAM Supplemental
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28BROOKFIELD.COM Last Three Months Last Twelve Months FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Infrastructure Energy Private Equity Real Estate Credit Total Infrastructure Energy Private Equity Real Estate Credit Total Opening $ 109,187 $ 72,160 $ 48,029 $ 102,846 $ 281,565 $ 613,787 $ 99,637 $ 64,385 $ 43,153 $ 101,775 $ 253,785 $ 562,735 Inflows 4,506 888 5,374 4,632 52,715 68,115 12,820 8,910 10,141 10,018 93,627 135,516 Outflows — — — — (6,867) (6,867) — — — (10) (24,670) (24,680) Distributions (968) (661) (499) (1,375) (2,845) (6,348) (4,707) (3,407) (1,395) (6,156) (10,865) (26,530) Market Valuation 1,688 1,685 8 18 1,801 5,200 4,973 7,275 1,735 (173) 10,868 24,678 Other (172) 237 630 (1,931) (492) (1,728) 1,518 (2,854) (92) (1,264) 3,132 440 Change 5,054 2,149 5,513 1,344 44,312 58,372 14,604 9,924 10,389 2,415 72,092 109,424 End of period $ 114,241 $ 74,309 $ 53,542 $ 104,190 $ 325,877 $ 672,159 $ 114,241 $ 74,309 $ 53,542 $ 104,190 $ 325,877 $ 672,159 Capital Metrics Additional Detail Fee-Bearing Capital Rollforward Of our total Fee-Bearing Capital, $591 billion or 88% is long-term, permanent or perpetual in nature FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Infrastructure Energy Private Equity Real Estate Credit Total Fee-Bearing Capital Long-Term Private Funds $ 51,158 $ 39,531 $ 44,153 $ 73,945 $ 88,896 $ 297,683 Permanent Capital Vehicles5 35,670 30,921 9,117 19,466 — 95,174 Perpetual Strategies 27,413 3,857 272 10,779 155,989 198,310 Long-Term or Permanent Capital 114,241 74,309 53,542 104,190 244,885 591,167 Liquid Strategies — — — — 80,992 80,992 Total $ 114,241 $ 74,309 $ 53,542 $ 104,190 $ 325,877 $ 672,159 Fee-Bearing Capital Breakout See glossary and endnotes Q2 2026 BAM Supplemental Fee-Bearing Capital increased by $109 billion over the last twelve months
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29BROOKFIELD.COM Capital Deployed or Committed (Funding Source) Capital Deployed (Geography) Capital Deployed or Committed FOR THE LTM ENDED JUNE 30, 2026 (MILLIONS) Infrastructure Energy Private Equity Real Estate Credit Total Capital Deployed Permanent capital and perpetual strategies21 $ 7,582 $ 2,121 $ 674 $ 3,412 $ 20,366 $ 34,155 Long-term private funds22 6,180 1,290 2,034 8,573 19,608 37,685 Co-investments22 3,585 157 143 4 454 4,343 Direct23 — — — — 48 48 Total deployed 17,347 3,568 2,851 11,989 40,476 76,231 Capital Committed24 New commitments entered 6,773 6,448 1,373 7,073 21,215 42,882 Commitments that were invested in the current period (9,756) (671) (76) (3,914) (10,071) (24,488) Total committed (2,983) 5,777 1,297 3,159 11,144 18,394 Total deployed or committed $ 14,364 $ 9,345 $ 4,148 $ 15,148 $ 51,620 $ 94,625 FOR THE LTM ENDED JUNE 30, 2026 (MILLIONS) Infrastructure Energy Private Equity Real Estate Credit Total North America $ 15,085 $ 2,317 $ 1,788 $ 7,700 $ 32,856 $ 59,746 South America 35 141 292 179 54 701 Europe 1,120 479 657 1,337 6,859 10,452 Asia, Middle East and other 1,107 631 114 2,772 708 5,332 Total deployed $ 17,347 $ 3,568 2,851 $ 11,989 40,476 76,231 We deployed or committed $95 billion of capital over the last twelve months See glossary and endnotes Q2 2026 BAM Supplemental
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30BROOKFIELD.COM ■ Opportunistic ■ Value Add, Credit, Core Plus and Other ■ Oaktree $56 17 5031 86 8 51 Day One at Spin-Off Q2-26 BAM Carry Eligible Capital As of June 30, 2026 (BILLIONS) Carry Eligible Capital Provides for Future Earnings Upside +3x Select BAM Carry Eligible Funds BAM earns two-thirds of carried interest on certain existing funds and all future vintages of our long-term funds, with BN retaining the remaining one-third. BAM has accrued $1.9 billion of unrealized carried interest on these funds, which is net of BN's portion Opportunistic Brookfield Strategic Real Estate Partners IV, V Brookfield Capital Partners VI, VII Brookfield Catalytic Transition Fund Brookfield Financial Infrastructure Fund Brookfield Middle East Partners Value Add, Credit, Core Plus and Other Brookfield Infrastructure Fund V Brookfield Global Transition Fund I, II Brookfield Artificial Intelligence Infrastructure Fund Brookfield Infrastructure Structured Solutions Brookfield Real Estate Secondaries Non-Traded REIT Brookfield Infrastructure Debt Fund III, IV Brookfield Real Estate Finance Fund VII Partner Manager Private Funds Oaktree Opportunities Fund XII Oaktree Power Opportunities Fund VII Future Funds All perpetual funds All vintages of long-term private funds Q2 2026 BAM Supplemental $187
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31BROOKFIELD.COM Target Carried Interest Target carried interest reflects our estimate of the carried interest earned on a straight-line basis over the life of a fund, assuming target returns are achieved See glossary and endnotes AS OF JUNE 30, 2026 (MILLIONS) Carry Eligible Capital25 Gross Target Return26, 27 Average Carried Interest Annualized Target Carried Interest28 Opportunistic $ 29,875 20% – 25% ~20% $ 1,103 Value add, Credit, Core plus and other 50,413 10% – 20% ~15% 912 Oaktree 27,227 10% – 20% ~15% 581 107,515 2,596 Uncalled fund commitments29, 30 Brookfield managed funds 55,943 1,324 Oaktree 23,336 425 Total carry eligible capital/target carried interest31 $ 186,794 $ 4,345 Target carried interest not attributable to BAM32 (1,491) Total target carried interest, net to BAM $ 2,854 Direct costs33 (1,516) Total target carried interest, net to BAM shareholders $ 1,338 Q2 2026 BAM Supplemental
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Fund Information Q2 2026 BAM Supplemental
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33BROOKFIELD.COM Brookfield Private Funds Investment Records See glossary and endnotes AS OF JUNE 30, 2026 Investment Value Performance(MILLIONS, EXCEPT AS NOTED) Vintage Year Fund Capital Realized34 Unrealized35 Total36 Gross IRR37 / Gross TWR37 Unlevered Net IRR38 / Net TWR39 Net IRR38 / Net TWR39 Infrastructure Core Plus Brookfield Infrastructure Fund I 2009 $ 2,655 $ 6,711 $ 93 $ 6,804 14 % 12 % 12 % Brookfield Infrastructure Fund II 2013 7,000 13,572 4,009 17,581 14 % 11 % 11 % Brookfield Infrastructure Fund III 2016 14,000 15,440 14,826 30,266 15 % 12 % 12 % Brookfield Infrastructure Fund IV 2019 20,000 11,131 25,214 36,345 16 % 12 % 12 % Brookfield Infrastructure Fund V 2022 27,520 4,223 18,842 23,065 19 % 12 % 12 % Total Brookfield Infrastructure Fund 71,175 51,077 62,984 114,061 15 % 12 % 12 % Brookfield Super-Core Infrastructure Partners 2018 15,916 2,492 14,912 17,404 10 % 9 % 8 % Brookfield Infrastructure Structured Solutions 2024 1,041 13 479 492 16 % 10 % 13 % Brookfield Artificial Intelligence Infrastructure Fund 2025 3,750 — 491 491 nm40 nm40 nm40 Fully realized infrastructure funds & other41 2005-2021 3,238 10,308 — 10,308 Total Infrastructure41 95,120 63,890 78,866 142,756 Energy Core Plus Brookfield Global Transition Fund I 2021 12,964 1,153 14,353 15,506 24 % 17 % 18 % Brookfield Global Transition Fund II 2023 17,937 318 4,729 5,047 nm40 nm40 nm40 Catalytic Transition Fund 2025 2,811 — 169 169 nm40 nm40 nm40 Brookfield Infrastructure Fund IV Energy Sidecar 2019 748 358 639 997 14 % 9 % 9 % Total Energy 34,460 1,829 19,890 21,719 Private Equity Opportunistic Brookfield Capital Partners Fund I41 2001 C$ 416 C$ 1,011 C$ — C$ 1,011 31 % 25 % 25 % Brookfield Capital Partners Fund II41 2006 C$ 1,000 C$ 2,878 C$ — C$ 2,878 21 % 15 % 15 % Brookfield Capital Partners Fund III 2011 1,000 1,644 75 1,719 10 % 7 % 7 % Brookfield Capital Partners Fund IV 2015 4,000 11,224 1,511 12,735 45 % 35 % 42 % Brookfield Capital Partners Fund V 2018 8,500 4,076 13,723 17,799 18 % 13 % 14 % Brookfield Capital Partners Fund VI 2022 9,892 721 9,104 9,825 18 % 12 % 13 % Brookfield Capital Partners Fund VII 2026 6,653 — — — nm40 nm40 nm40 Total Brookfield Capital Partners Fund41 31,066 20,468 24,413 44,881 25 % 18 % 19 % Fully realized private equity funds & Other41 2009-2025 15,190 15,455 12,821 28,276 Total Private Equity41 46,256 35,923 37,234 73,157 Q2 2026 BAM Supplemental
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34BROOKFIELD.COM Brookfield Private Funds Investment Records cont’d Q2 2026 BAM Supplemental See glossary and endnotes AS OF JUNE 30, 2026 Investment Value Performance(MILLIONS, EXCEPT AS NOTED) Vintage Year Fund Capital Realized34 Unrealized35 Total36 Gross IRR37 / Gross TWR37 Unlevered Net IRR38 / Net TWR39 Net IRR38 / Net TWR39 Real Estate Opportunistic Brookfield Real Estate Opportunity Fund I 2006 $ 242 $ 571 $ — $ 571 11 % 9 % 9 % Brookfield Real Estate Opportunity Fund II 2007 262 607 — 607 20 % 16 % 16 % Brookfield Real Estate Turnaround Fund 2009 5,565 8,575 — 8,575 39 % 35 % 35 % Brookfield Strategic Real Estate Partners I 2012 4,350 11,323 0 11,323 21 % 17 % 17 % Brookfield Strategic Real Estate Partners II 2015 9,000 13,597 3,025 16,622 12 % 9 % 10 % Brookfield Strategic Real Estate Partners III 2018 15,000 9,353 13,620 22,973 10 % 8 % 8 % Brookfield Strategic Real Estate Partners IV 2021 15,328 1,752 13,207 14,959 7 % 4 % 4 % Brookfield Strategic Real Estate Partners V 2023 13,030 642 4,989 5,632 nm40 nm40 nm40 Brookfield Strategic Real Estate Partners Europe41 2024 € 675 € 24 € 270 € 294 nm40 nm40 nm40 Brookfield Strategic Real Estate Partners Asia Pacific 2025 1,300 5 405 410 nm40 nm40 nm40 Total Brookfield Strategic Real Estate Partners41 64,846 46,453 35,554 82,007 18 % 13 % 14 % Core Plus Brookfield Premier Real Estate Partners – US / Australia41 2016-2018 4,970 3,571 4,736 8,307 7 % 5 % 5 % Fully realized real estate funds & Other41 2006-2026 11,579 8,314 4,444 12,758 Total Real Estate41 81,395 58,338 44,734 103,072 Core Credit Debt Brookfield Infrastructure Debt Fund I 2016 884 1,067 226 1,292 10 % 8 % 8 % Brookfield Infrastructure Debt Fund II 2020 2,701 2,008 1,710 3,717 9 % 7 % 7 % Brookfield Infrastructure Debt Fund III 2022 5,618 1,585 4,744 6,330 10 % 8 % 8 % Brookfield Infrastructure Debt Fund IV 2024 4,611 94 808 902 nm40 nm40 nm40 Brookfield Real Estate Finance Fund IV 2014 1,375 1,443 25 1,468 10 % 7 % 8 % Brookfield Real Estate Finance Fund V 2016 2,949 2,675 281 2,956 6 % 3 % 4 % Brookfield Real Estate Finance Fund VI 2021 4,017 2,610 974 3,584 10 % 7 % 7 % Brookfield Real Estate Finance Fund VII 2025 900 7 80 87 nm40 nm40 nm40 Fully realized core credit funds & Other41 2004-2021 3,418 4,846 441 5,287 Total Core Credit41 26,473 16,335 9,289 25,623 Oaktree Credit Oaktree Opportunities Fund IX 2014 5,066 7,585 2,065 9,650 10 % 8 % 8 % Oaktree Opportunities Fund X 2016 3,603 4,125 1,714 5,839 13 % 7 % 8 % Oaktree Opportunities Fund Xb 2020 8,872 5,735 9,108 14,843 17 % 10 % 12 % Oaktree Opportunities Fund XI 2021 15,876 9,536 10,747 20,283 14 % 9 % 9 % Oaktree Opportunities Fund XII 2023 12,918 52 9,124 9,176 27 % 11 % 16 % Fully realized (or legacy) opportunistic credit funds & other 1988-2011 35,517 55,690 — 55,690 Total Credit 81,852 82,723 32,758 115,481
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Reconciliations and Disclosures Q2 2026 BAM Supplemental
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36BROOKFIELD.COM Listed Affiliate Fee Revenue Structure Listed Affiliate Fee Revenue Structure and Incentive Distributions Incentive Distributions and Performance Fees AS OF JUNE 30, 2026 (MILLIONS, EXCEPT PER UNIT) Annualized Distributions Distribution Hurdles Incentive Distributions Units Outstanding Annualized Incentive Distributions Brookfield Infrastructure (BIP)49 $ 1.82 $ 0.49 / $ 0.53 15% / 25% 792 $ 348 Brookfield Renewable (BEP)50 1.57 0.80 / 0.90 15% / 25% 680 164 Total Incentive Distributions $ 512 See glossary and endnotes. Totals and sub-totals may not tie due to rounding. Q2 2026 BAM Supplemental Three Month VWAP (USD) Incentive Dividend Threshold Excess over Threshold / 20% of Excess over Threshold Shares Outstanding Quarterly Incentive Dividend Brookfield Private Equity (BBUC)51 $ 33.06 33.81 $ — $ — 205 $ — Total Performance Fees $ — AS OF JUNE 30, 2026 (MILLIONS, EXCEPT PER UNIT) BIP / BIPC42 BEP / BEPC42 BBUC42, 43 Units Outstanding - Publicly Traded Partnerships 651 495 Volume Weighted Average Price44 $ 36.58 $ 35.16 Market Capitalization for Publicly Traded Partnerships 23,821 17,389 Units Outstanding - Canadian Corporations 141 186 205 Volume Weighted Average Price44 $ 38.92 $ 37.51 $ 33.06 Market Capitalization for Canadian Corporations 5,469 6,963 6,792 Combined Market Capitalization $ 29,290 $ 24,351 $ 6,792 Add: Net Debt45 5,788 4,975 1,600 Add: Preferred Shares 593 1,594 725 Adjusted Market Value 35,671 30,920 9,117 Less: Initial Reference Value46 — 8,093 — Adjusted Market Value Base for Management Fee 35,671 22,827 9,117 Quarterly Base Management Fee Rate47 0.31 % 0.31 % 0.31 % Gross Base Management Fee48 111 71 28 Add: Fixed Management Fee48 — 6 — Total Base Management Fee $ 111 $ 77 $ 28
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37BROOKFIELD.COM UNAUDITED FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Three Months Ended 2026 2025 Net income $ 1,172 $ 584 Add or subtract the following: Provision for taxes52 162 75 Depreciation and amortization53 20 11 Carried interest allocations54 (553) 63 Carried interest allocation compensation54 51 16 Other income and expenses55 (41) 55 Interest expense56 60 37 Interest and dividend revenue56 (36) (42) Other revenues57 (117) (197) Share of income from equity method investments58 (199) (181) Fee-related earnings of equity investment methods at our share58 170 103 Compensation costs recovered from affiliates59 101 137 Other adjustments60 18 15 Fee-related earnings 808 676 Add: Investment & Other Income (Net of Interest Expense)61 (27) 14 Add: Equity-Based Compensation Costs61 23 11 Less: Cash taxes62 (97) (88) Distributable earnings $ 707 $ 613 Overview We disclose certain non-GAAP financial measures in these supplemental schedules. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP are presented below. Management assesses the performance of its business based on these non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, net income or other financial measures presented in accordance with U.S. GAAP Reconciliation of U.S. GAAP to Non-GAAP Measures See glossary and endnotes Q2 2026 BAM Supplemental
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38BROOKFIELD.COM Overview We disclose certain non-GAAP financial measures in these supplemental schedules. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP are presented below. Management assesses the performance of its business based on these non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, net income or other financial measures presented in accordance with U.S. GAAP Reconciliation of Revenues to Fee Revenues UNAUDITED FOR THE PERIODS ENDED JUN. 30 (MILLIONS) Three Months Ended 2026 2025 Base management and advisory fees $ 919 $ 815 Incentive Fees63 128 116 Fee Revenues from equity method investments64 439 358 Other adjustments65 8 (4) Fee Revenues $ 1,494 $ 1,285 See glossary and endnotes Q2 2026 BAM SupplementalQ2 2026 BAM Supplemental
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39BROOKFIELD.COM Brookfield Asset Management Refers to our asset management business, which includes Brookfield Asset Management Ltd. and its subsidiaries. Assets Under Management (AUM) The total fair value of assets managed, calculated as: investment that Brookfield, which includes Brookfield Corporation, Brookfield Asset Management, or their affiliates, either: i) consolidates for accounting purposes (generally, investments in respect of which Brookfield has a significant economic interest and unilaterally directs day-to-day operating, investing and financing activities), or ii) does not consolidate for accounting purposes but over which Brookfield has significant influence by virtue of one or more attributes (e.g., being the largest investor in the investment, having the largest representation on the investment’s governance body, being the primary manager and/or operator of the investment, and/or having other significant influence attributes), iii) are calculated at 100% of the total fair value of the investment taking into account its full capital structure — equity and debt — on a gross asset value basis, even if Brookfield does not own 100% of the investment, with the exception of investments held through our perpetual funds, which are calculated at its proportionate economic share of the investment’s net asset value. All other investments are calculated at Brookfield’s proportionate economic share of the total fair value of the investment taking into account its full capital structure — equity and debt — on a gross asset value basis, with the exception of investments held through our perpetual funds, which are calculated at Brookfield’s proportionate economic share of the investment’s net asset value. Our methodology for determining AUM differs from the methodology that is employed by other alternative asset managers as well as the methodology for calculating regulatory AUM that is prescribed for certain regulatory filings (e.g., Form ADV and Form PF). Fee-Bearing Capital (FBC) Represents the capital committed, pledged or invested in the perpetual affiliates, private funds and liquid strategies that we manage which entitles us to earn fee revenues. Fee-bearing capital includes both called (“invested”) and uncalled (“pledged” or “committed”) amounts. When reconciling period amounts, we utilize the following definitions: i) Inflows include capital commitments and contributions to our private and liquid strategies funds, and capital issuances in our perpetual affiliates; ii) Outflows represent distributions and redemptions of capital from within liquid strategies; iii) Distributions represent quarterly distributions from perpetual affiliates as well as returns of committed capital (excluding market valuation adjustments) and redemptions; iv) Market activity includes gains (losses) on portfolio investments, perpetual affiliates and liquid strategies based on market prices; and v) Other includes foreign exchange for funds not denominated in USD, end of period adjustments for our flagship funds, and changes in non-recourse leverage in our listed affiliates. Carry Eligible Capital (CEC) The capital committed, pledged or invested in the private funds that we manage and which entitle us to earn carried interest. Carry eligible capital includes both invested and uninvested (i.e. uncalled) private fund amounts as well as those amounts invested directly by investors (co- investments) if those entitle us to earn carried interest. We believe this measure is useful to investors as it provides additional insight into the capital base upon which we have potential to earn carried interest once minimum investment returns are sufficiently assured. Distributable Earnings (DE) Non-GAAP measure that provides insight into earnings that are available for distribution to common shareholders or to be reinvested into the business. It is calculated as the sum of fee-related earnings and realized carried interest; returns from our corporate cash and financial assets; interest expense; cash taxes; excluding equity-based compensation costs. Fee-Related Earnings (FRE) Comprised of fee revenues less direct costs associated with earning those fees, which include employee expenses and professional fees as well as business related technology costs, and other shared services. We use this measure to provide additional insight into the operating profitability of our asset management activities. Carried Interest Contractual arrangement whereby we receive a fixed percentage of investment gains generated within a private fund provided that the investors receive a predetermined minimum return. Carried interest is typically paid towards the end of the life of a fund after the capital has been returned to investors and may be subject to “clawback” until all investments have been monetized and minimum investment returns are sufficiently assured. This is referred to as realized carried interest. This Supplement Information contains key performance measures that we employ in analyzing and discussing our results. These measures include non-GAAP measures. Glossary of Terms Q2 2026 BAM Supplemental
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40BROOKFIELD.COM Glossary of Terms cont’d Annualized Target Carried Interest Represents the annualized carried interest we would earn on third-party private fund capital subject to carried interest based on the assumption that we achieve the targeted returns on the private funds. It is determined by multiplying the target gross return of a fund by the percentage carried interest and by the amount of third-party capital. Fee Revenues Include base management fees, incentive distributions, performance fees and transaction fees excluding carried interest. Incentive Distributions Determined by contractual arrangements and are paid to us by BEP and BIP and represent a portion of distributions paid by perpetual affiliates above a predetermined hurdle. Internal Rate of Return (IRR) The annualized compounded rate of return of the fund, calculated since initial investment date. Base Management Fees Determined by contractual arrangements, are typically equal to a percentage of fee-bearing capital and are accrued quarterly. Private Fund Base Fees Private fund base fees are typically earned on fee-bearing capital from third-party investors only and are earned on invested and/or uninvested fund capital, depending on the stage of the fund life Perpetual Affiliate Base Fees Perpetual affiliate base fees are earned on the total capitalization or net asset value of our perpetual affiliates, which includes our investment. Base fees for BEP include a quarterly fixed fee amount of $5 million, with additional fees of 1.25% on the increase in capitalization above their initial capitalization of $8 billion. Base fees for BIP and BBUC are 1.25% of total capitalization. Base fees for BPG are 1.05% of net asset value, excluding its interests in private funds and investments which were held directly by BAM prior to the BPY privatization. Perpetual affiliate adjusted market values as of June 30, 2026 , was as follows: BEP/BEPC – $31 billion ; BIP/BIPC – $36 billion; BBUC – $9 billion; and BPG – $19 billion. Q2 2026 BAM Supplemental
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41BROOKFIELD.COM Endnotes Page 4 1. Non-controlling interest represents the approximately 26% of Oaktree not held by Brookfield for the three months ended June 30, 2026; includes the approximately 26% of Oaktree not held by Brookfield for the twelve months ended June 30, 2026. 2. FRE Margin at our share is calculated consolidating our share of Oaktree's non-controlling interest revenues and costs. Page 6 3. Market valuation includes gains (losses) on portfolio investments, permanent capital vehicles, perpetual affiliates and liquid strategies based on market prices. 4. Other adjustments include foreign exchange for funds not denominated in USD, end of period adjustments for our flagship funds, and changes in non-recourse leverage in our listed affiliates and permanent capital vehicles. 5. Permanent capital vehicles include BIP, BEP, BBUC, and BPG. Pages 7, 8 and 9 6. Energy flagship, long-term and perpetual funds and co-investments include their respective commitments to Infrastructure funds, including Brookfield Infrastructure Flagship fund, Brookfield Infrastructure Income fund and Brookfield Infrastructure Structured Solutions fund. 7. Includes capital from our infrastructure debt platform and real estate debt platform. Credit co-investments are included in fundraising, and presented separately for capital deployed and monetized. Page 11 8. The Corporate Credit Profile metrics and statistics include only Brookfield's corporate level debt and excludes Oaktree's $996 million of debt outstanding as disclosed in the financial statements Page 14 9. Infrastructure co-investments and other long-term funds includes Oaktree infrastructure investments in closed-end funds. Page 18 10. Private Equity other long-term funds includes Oaktree private equity investments in closed-end funds. 11. Performance Fees reflect those earned from BBUC and Brookfield Private Equity, our private equity retail vehicle. Page 20 12. Real Estate other long-term funds includes Oaktree real estate investments in closed-end funds. 13. Real Estate other perpetual funds and co-investments includes Oaktree real estate investments in evergreen funds. Page 21 14. Investment professionals include Brookfield Credit Group, Brookfield Wealth Solutions, and partner manager professionals. Page 22 15. Long-Term Opportunistic Credit includes our global opportunistic credit fund series. 16. Long-Term Private Credit includes infrastructure debt, real estate debt, and partner manager closed-end private credit funds. 17. Perpetual Opportunistic Credit includes our value opportunistic fund series. 18. Perpetual Private Credit includes senior mezzanine real estate debt, insurance capital allocated into private credit (SMAs), and Oaktree evergreen private credit funds. 19. Perpetual Liquid Credit includes insurance capital allocated to liquid credit products. Q2 2026 BAM Supplemental
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42BROOKFIELD.COM Page 25 20. Other income includes BAM's portion of equity method investments’ realized carried interest, investment income, interest expense and other items. Page 28 21. Includes investments made by permanent capital vehicles and partner managers on their balance sheets, or investments in perpetual private funds. 22. Reflects investments in long-term private funds managed by Brookfield and partner managers. 23. Investments made by Brookfield in financial assets or on balance sheet assets. 24. Represents those commitments entered into during the period. Invested commitments represent the amounts invested during the period for commitments which were entered into during the prior period (shown as an outflow to commitments and an inflow to invested). Where capital was both committed and invested in the same period, it is presented as invested only. Page 30 25. As of June 30, 2026, $116 billion of carry eligible capital has been invested and an additional $79 billion of committed capital will become carry eligible once invested. 26. Carried interest is generated once a private fund exceeds its preferred return typically ranging from 5% – 9%. It will typically go through a catch-up period until the manager and limited partner are earning carry at their respective allocation. 27. Gross target return is before annual fund management fees ranging from 90 bps for core plus funds to 200 bps for certain opportunistic funds. 28. Based on carry eligible capital. 29. Uncalled fund commitments from carry eligible funds. 30. Target carry on uncalled fund commitments is discounted for two years at 10%, reflecting gross target return and average carried interest rate for uncalled fund commitments. 31. Target carried interest of $4.7 billion is comprised of $3.0 billion related to capital currently invested and $1.7 billion for capital not yet invested. 32. Includes i) Oaktree target carried interest attributable to the approximately 26% of Oaktree not held by Brookfield and ii) 1/3 of realized carry attributable to Brookfield Corporation. 33. For planning purposes, we assume cost of carry as 30% for Brookfield funds and 50% for Oaktree funds. Endnotes cont'd Q2 2026 BAM Supplemental
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43BROOKFIELD.COM Endnotes cont'd Pages 33 and 34 34. “Realized Proceeds” represents any proceeds from disposition and distributions or other forms of current income and loss. 35. Values ascribed to “Unrealized Proceeds”, where applicable, and used in determining performance results are based on assumptions that the manager believes are fair and reasonable under the circumstances. Where applicable, “Unrealized Proceeds” include unrealized gains or losses resulting from hedges against foreign currency exposure. The actual realized returns on current unrealized investments may differ materially from the returns shown herein, as it will depend on, among other factors, future operating results, the value of the asset and market conditions at the time of dispositions, any related transactions costs and the time and manner of sale, all of which may differ from the assumptions on which the valuations contained herein are based. 36. “Total Proceeds” are before fund expenses, management fees and carried interest (or equivalent fees). 37. “Gross IRR” reflects performance before fund expenses, management fees, and carried interest (or equivalent fees), which would reduce an investor's return. Performance figures exclude the effects of and returns from bridge financing provided by the fund. Fund performance is in the functional currency of each fund. “Gross TWR” of the fund reflects composite performance of all investments within the fund before fund expenses, management fees and incentive fees (or equivalent fees), if any, which would reduce investment level returns. If fund expenses and fund leverage were included, the fund gross TWR since inception would be 9.5% for Brookfield Super-Core Infrastructure Partners and 6.6% for Brookfield Premier Real Estate Partners - US / Australia. Fund performance is in the functional currency of each fund. 38. “Unlevered Net IRR” is calculated from the time an investment is made and exclude the effects of leverage incurred at the fund-level, including through the use of a subscription secured credit facility to temporarily fund investments and meet working capital needs ("Fund Leverage"). It is calculated on a fund level and not for any particular investor, and takes into account the average fund expenses, management fees and carried interest (or equivalent fees), if any, allocated to or paid by each investor. For the purposes of this calculation, Brookfield is treated as having paid management fees and carried interest rates that correspond to the rates a third party investor would pay. Since Brookfield is generally the largest investor in its funds and generally makes its commitment at a fund’s first closing, the notional management fee and carried interest rates applied to Brookfield’s commitment are typically the lowest rates available to third party investors and as such these net returns are calculated using those rates for Brookfield's commitment, which reduces the fund’s average management fees and carried interest rates (and increases the net returns presented here) below what they would have been if Brookfield was not invested in the fund. Since management fees and carried interest rates vary by investor, each particular investor would likely have a different net performance return than those shown here, and investors who do not qualify for discounted management fees and carried interest rates based on, as applicable, their commitment size or timing of commitment would likely experience a greater spread between gross and net performance than presented here. "Net IRR" takes into account the effects of Fund Leverage and is calculated taking into consideration the timing of investor cash flows. If the fund has not utilized Fund Leverage, the net levered return metrics presented are the same as the unlevered metrics. 39. “Unlevered Net TWR” is calculated on a fund level and not for any particular investor, and takes into account the average fund expenses, management fees and variable fees (or equivalent fees), if any, allocated to or paid by each investor and excludes Fund Leverage. For the purposes of this calculation, Brookfield is treated as having paid management fees and variable fees that correspond to the rates a third party investor investing at the same time and in the same amount as Brookfield would pay. Since management fees and variable fees vary by investor, each particular investor would likely have a different net performance return than those shown here, and investors who do not qualify for discounted management fees and variable fees rates based on, as applicable, their commitment size or timing of commitment would likely experience a greater spread between gross and net performance than presented here. Calculations are based on the NAV of the fund, which represents the fair value of the fund’s investments and other assets, less the value of its liabilities, adjusted by certain items as detailed in the fund’s partnership agreement, as amended, such as unamortized organizational expenses and deal costs. "Net TWR" takes into account the effects of Fund Leverage and is calculated taking into consideration the timing of investor cash flows. If the fund has not utilized Fund Leverage, the net levered return metrics presented are the same as the unlevered metrics. 40. “nm” refers to performance measures that are not meaningful, typically where (a) the performance measurement date is within twelve months of acquisition, or (b) within twelve months of initial capital call date. 41. For presentation of totals, foreign currencies are translated into U.S. dollars using 10-year historical averages exchange rates. Q2 2026 BAM Supplemental
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44BROOKFIELD.COM Endnotes cont'd Page 35 42. Net Debt and Preferred Share detail is presented on a combined basis for BIP / BIPC, BEP / BEPC, and BBUC. 43. In March 2026, all BBU limited partnership units, BBUC Class A exchangeable shares and redemption-exchange units held by Brookfield were exchanged for newly issued Class A shares of Brookfield Business Corporation. Shares began trading on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "BBUC" on March 31, 2026. 44. For BIP / BIPC and BEP / BEPC and BBUC: The Q2-26 period represents the 90 day period starting from April 1, 2026 to June 30, 2026. 45. Net debt reflects recourse third party debt, non-recourse corporate debt and credit facilities, net of cash or cash equivalents. For BIP / BIPC, this includes recourse cash and financial asset portfolio at fair value, which includes only those securities purchased under BIP's financial asset investment program. For BEP / BEPC, this includes credit facility, less cash held by the service recipient at closing. For BBUC, this includes recourse third party debt less cash and cash equivalents held by the Service Recipients, adjusted for distributions that have not been received by the Service Recipients as at the balance sheet date strictly due to timing. 46. For BEP / BEPC, the initial reference value is the market capitalization immediately following combination of the assets of Great Lakes Hydro Income Fund and Brookfield Power Renewable Assets into BEP, equal to $8.093 billion. 47. Management Fee is defined as a quarterly base management fee to the Service Providers equal to 0.3125% (1.25% annually) of the adjusted market value each respective company. This is applicable for BIP / BIPC and BBU / BBUC. For BEP / BEPC, management fee is defined as a quarterly base management fee to the Service Providers equal to 0.3125% (1.25% annually) of the adjusted market value less the initial reference value. 48. Pursuant to BEP’s Master Services Agreement, BEP pays a fixed Base Management Fee equal to $20 million annually, and annually adjusted for inflation, with the first adjustment having been made on January 1, 2013, at an inflation factor based on year-over-year United States consumer price index. As of June 30, 2026, the quarterly fixed base management fee is $7.0 million, presented here adjusted for management fees paid directly to BAM entities. 49. Incentive distributions from Brookfield Infrastructure are earned on distributions made by BIP and BIPC. 50. Incentive distributions from Brookfield Renewable are earned on distributions made by BEP and BEPC. 51. As a result of holding Special shares, BAM is entitled to receive from Brookfield Business Corporation incentive dividend calculated as (a) 20% of the growth in the market value of our shares quarter-over-quarter (but only after the market value exceeds the Incentive Dividend Threshold, and adjusted at the beginning of each quarter to be equal to the greater of (i) our share’s market value for the previous quarter and (ii) the Incentive Dividend Threshold at the end of the previous quarter multiplied (b) the number of Class A shares and other economically equivalent securities of the Service Recipients outstanding at the end of the quarter. For the purposes of calculating incentive dividend, the market value of our shares is equal to the quarterly volume-weighted average price of our shares on the principal stock exchange for our shares (based on trading volumes). Q2 2026 BAM Supplemental
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45BROOKFIELD.COM Page 36 52. This adjustment removes the impact of income tax provisions on the basis that we do not believe this item reflects the present value of the actual tax obligations that we expect to incur over the long-term due to the substantial deferred tax assets of BAM. 53. This adjustment removes the depreciation and amortization on property, plant and equipment and intangible assets, which are non-cash in nature and therefore excluded from FRE as well as certain capital depreciation costs recharged from BAM's affiliates. 54. These adjustments remove the impact of both unrealized and realized carried interest allocations and the associated compensation expense. Unrealized carried interest allocations and associated compensation expense are non-cash in nature. Carried interest allocations and associated compensation costs are included in Distributable Earnings once realized. 55. This adjustment removes other income and expenses associated with fair value changes for consolidated entities and funds. 56. This adjustment removes interest and charges paid or received by consolidated entities and funds. 57. This adjustment adds back other revenues earned that are non-cash in nature. 58. These adjustments remove our share of equity method investments' earnings, including items 52) to 57) above and include its share of equity method investments' Fee- Related Earnings. 59. This item adds back compensation costs that will be borne by affiliates. 60. This adjustment adds back base management fees earned from funds that are eliminated upon consolidation and other items. 61. This adjustment adds back equity-based compensation and other income associated with BAM’s portion of equity method investments' realized carried interest, investment income and other items. 62. Represents the impact of cash taxes paid by the business. Page 37 63. This adjustment adds incentive distributions that are included in fee revenues. 64. This adjustment adds Oaktree management fees at 100% ownership and our proportionate share of partner manager earnings. 65. This adjustment involves base management fees earned from funds that are eliminated upon consolidation and other items. Endnotes cont'd Q2 2026 BAM Supplemental
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46BROOKFIELD.COM Brookfield Asset Management Ltd. ("BAM") is not making any offer or invitation of any kind by communication of this Supplemental Information and under no circumstance is it to be construed as a prospectus or an advertisement. Unless otherwise specified, the information and statements presented in this Supplemental Information reflect balances on a 100% basis for BAM and its subsidiaries (“our asset management business”). This Supplemental Information contains “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of other relevant securities legislation, including applicable securities laws in Canada, which reflect our current views with respect to, among other things, our operations and financial performance (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of BAM and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of BAM are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “target”, “project”, “forecast”, “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this Supplemental Information include statements referring to the future state of the economy or the securities market, the anticipated allocation and deployment of our capital, our liquidity and ability to access and raise capital, our fundraising targets, our target growth objectives, our target carried interest, and the impact of acquisitions and dispositions on our business. Although BAM believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, actual results may differ materially from the forward- looking statements. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) volatility in the trading price of our class A limited voting shares; (ii) deficiencies in public company financial reporting and disclosures; (iii) the difficulty for investors to effect service of process and enforce judgments in various jurisdictions; (iv) being subjected to numerous laws, rules and regulatory requirements; (v) the potential ineffectiveness of our policies to prevent violations of applicable law; (vi) foreign currency risk and exchange rate fluctuations; (vii) further increases in interest rates; (viii) political instability or changes in government; (ix) unfavorable economic conditions or changes in the industries in which we operate; (x) inflationary pressures; (xi) catastrophic events, such as earthquakes, hurricanes, or pandemics/epidemics; (xii) ineffective management of sustainability considerations, and inadequate or ineffective health and safety programs; (xiii) failure of our information technology systems; (xiv) failure to adopt AI in support of our business objectives (xv) us and our managed assets becoming involved in legal disputes; (xvi) losses not covered by insurance; (xvi) inability to collect on amounts owing to us; (xviii) operating and financial restrictions through covenants in our loan, debt and security agreements; (xix) our ability to maintain our global reputation; (xx) risks related to our infrastructure, energy, private equity, real estate, and credit strategies; (xxi) the impact of poor product development or marketing efforts on fee-bearing capital; (xxii) managing our cash flow and meeting our financial obligations; (xxiii) our acquisitions; (xxiv) requirement of temporary investments and backstop commitments to support our asset management business; (xxv) revenues impacted by a decline in the size or pace of investments made by our managed assets; (xxvi) our earnings growth can vary, which may affect our dividend and the trading price of our class A limited voting shares; (xxvii) exposed risk due to increased amount and type of investment products in our managed assets; (xxviii) information barriers that may give rise to conflicts and risks; (xxix) Brookfield Corporation (“BN”) exercising substantial influence over BAM; (xxx) BN transferring the ownership of BAM to a third party; (xxxi) potential conflicts of interest with BN; (xxxii) difficulty in maintaining our culture or managing our human capital; (xxxiii) United States and Canadian taxation laws and changes thereto and (xxxiv) other factors described from time to time in our documents filed with the securities regulators in the United States and Canada. We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect future results. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this Supplemental Information or such other date specified herein. Except as required by law, BAM undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise. Notice to Readers Q2 2026 BAM Supplemental
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47BROOKFIELD.COM STATEMENT REGARDING PAST AND FUTURE PERFORMANCE AND TARGET RETURNS Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, or that future investments or fundraising efforts will be similar to the historic results presented herein (because of economic conditions, the availability of investment opportunities or otherwise). The target returns set forth herein are for illustrative and informational purposes only and have been presented based on various assumptions made by BAM. in relation to, among other things, the investment strategies being pursued by the funds, any of which may prove to be incorrect. Due to various risks, uncertainties and changes (including changes in economic, operational, political or other circumstances) beyond BAM.’s control, the actual performance of the funds could differ materially from the target returns set forth herein. In addition, industry experts may disagree with the assumptions used in presenting the target returns. No assurance, representation or warranty is made by any person that the target returns will be achieved, and undue reliance should not be put on them. Prior performance is not indicative of future results and there can be no guarantee that the funds will achieve the target returns or be able to avoid losses. STATEMENT REGARDING USE OF NON-GAAP MEASURES We disclose a number of financial measures in this Supplemental Information that are calculated and presented using methodologies other than in accordance with U.S. GAAP, as issued by the International Accounting Standards Board, including, but not limited to, Fee Revenues, Fee-Related Earnings and Distributable Earnings. Supplemental financial measures include Assets Under Management, Fee-Bearing Capital and Uncalled Fund Commitments. We utilize these measures in managing the business, including for performance measurement, capital allocation and valuation purposes and believe that providing these performance measures on a supplemental basis to our U.S. GAAP results is helpful to investors in assessing the overall performance of our businesses. These non-GAAP measures have limitations as analytical tools and should not be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, similar financial measures calculated in accordance with U.S. GAAP. We caution readers that these non-GAAP financial measures or other financial metrics may differ from the calculations disclosed by other businesses and, as a result, may not be comparable to similar measures presented by other issuers and entities. Notice to Readers cont’d Q2 2026 BAM Supplemental