b r o o k f i e l d a t a g l a n c eQ3 2018

We are a leading alternative asset manager, focused on investing in long-life, high-quality assets spanning over 30 countries globally. Our investments include one of the largest real estate portfolios in the world, an industry-leading infrastructure business, one of the largest pure-play renewable power businesses and a rapidly expanding private equity business. These businesses are each important components of the backbone of the global economy, supporting the endeavors of individuals, corporations and governments worldwide.

Asset Manager

$140B+ FEE BE ARING C APITAL

Recurring long-term fees received from managing our funds, listed partnerships, public securities and carried interest

▪ Fee bearing capital diversified across private funds, listed partnerships and public securities

▪ Generates $2.7 billion of annualized fees and target carried interest

COMPETITIVE ADVANTAGES

Large Scale Capital By sourcing capital from investors and shareholders – alongside our own capital – we are able to undertake transactions that few others can pursue

Global Reach Global presence and global mandates provide breadth of opportunities and allow us to deploy capital where it is scarce

Owner-operator Our extensive operating expertise, development capabilities and effective financing experience enables us to increase the cash flow of the assets within our operating businesses and create incremental value

Invested Capital

$33B BAL ANCE SHEET INVES TMENTS

Capital deployed in managed funds and on a direct basis which generates cash distributions

▪ Generates $1.6 billion of annualized distributable cash flow

▪ ~83% invested in listed entities

INVES TMENT C A SE

Continuous Growth Fee bearing capital within our private funds and listed entities drives increasing fee revenues

Carried Interest Potential Achieving target returns in our private funds provides an opportunity to earn significant carried interest

Distribution Growth Listed issuers have a solid track record of growing distributions in which we participate as an investor and as the manager

$64BLISTED

PARTNERSHIPS

$61BPRIVATE FUNDS

$15BPUBLIC

SECURITIES

$23BLISTED

PARTNERSHIPS

$4BLISTED

INVESTMENTS

$6BUNLISTED

INVESTMENTS

Global Presence

Corporate Offices

A SSET MANAGEMENTFOR THE LTM ENDED SEP. 30, 2018 ($ MILLIONS) Actual Annualized1

Fee revenues $ 1,743 $ 1,505

Direct costs (525) (602)

Fee related earnings 1,218 903

Realized carried interest 96 n/a

Direct costs related to carried interest2 (28) n/a

68 n/a

Asset management FFO 1,286 903

Realized carried interest, net (68) n/a

Unrealized carried interest 1,147 1,195

Direct costs related to carried interest2 (352) (359)

795 836

Total asset management $ 2,013 $ 1,739

1. Based on fee bearing capital as at September 30, 20182. Direct costs related to realized carried interest included in FFO are realized in the year. Direct costs

related to unrealized carried interest are unrealized in the year

ANNUALIZED FEES AND TARGET C ARRYAS AT ($ MILLIONS) Sep. 30, 2018 Sep. 30, 2017Base management fees1

Listed partnerships $ 540 $ 550

Private funds 550 455

Public securities 124 89

Incentive distributions2 207 156

1,421 1,250

Performance fee3 65 65

Transaction and advisory4 19 35

Fee revenues 1,505 1,350

Target carried interest5 1,195 860

$ 2,700 $ 2,210

1. Base management fees include $280 million of annualized base fees on Brookfield capital ($277 million from public affiliates and $3 million from private funds)

2. Based on most recent quarterly distributions declared3. Annualized BBU performance fees assume 10% unit price appreciation above the hurdle rate of

$25.00 and the two-year average performance fees from our public securities business 4. Annualized transaction and advisory fees based on simple average of the last two years' results5. Based on prescribed carried interest for private funds and target gross return. Includes only

third-party capital

2014 2015 2016 2017 2018

Target Carried InterestFee Revenues

$1,143

$1,399

$1,992

$2,210

$2,700

Annualized Fee Revenues AS AT SEP. 30 ($ MILLIONS)

INVES TED C APITALAS AT SEP. 30, 2018 ($ MILLIONS) Quoted1 IFRS Blended2

BPY $ 11,497 $ 15,667 $ 15,667

BEP 5,697 3,625 5,697

BIP 4,693 1,815 4,693

BBU 4,023 1,982 4,023

Other listed 4,224 4,381 4,224

Total listed investments $ 30,134 27,470 34,304

Unlisted investments 5,636 6,698

Corporate capitalization (10,746) (10,746)

Total (Invested Capital) $ 22,360 $ 30,256

1. Quoted value based on September 30, 2018 public pricing2. We consider the value of invested capital to be the quoted value of listed investments

and IFRS value of unlisted investments, subject to two adjustments. First, we reflect BPY at IFRS values as we believe that this best reflects the fair value of the underlying properties. Second, we reflect Brookfield Residential at its privatization value

Asset Management – Financial Performance ▪ Fee related earnings are underpinned by long-term and perpetual contractual agreements

▪ Diversified fee base contributing over $1.5 billion in fee revenues annually

▪ Unrealized carry of approximately $1.2 billion annually

FEE REL ATED E ARNINGS VALUE

20x Multiple

UNRE ALIZED C ARRIED INTERES T VALUE

10x Multiple on Target Carried Interest

INVES TED C APITAL VALUE

Quoted/IFRS Values BAM

Note: For business planning purposes, we value our asset management business based on multiples of expected fee related earnings and target carried interest, net of associated costs. Such multiples reflect Brookfield’s estimates of appropriate multiples to be applied to fee related earnings and carried interest in the alternative asset management industry based on, among other things, industry reports

Overview

Cash Available for DistributionFOR THE LTM ENDED SEP. 30, 2018 ($ MILLIONS) Annualized 2018Asset Management

Fee related earnings $ 903 $ 1,218

Realized carried interest, net — 68

Asset management FFO 903 1,286

Invested Capital

Cash distributions received from listed investments 1,375 1,478

Corporate FFO

Financial asset earnings 188 116

Corporate costs, cash taxes and other (104) (103)

Corporate interest expense (332) (311)

Corporate FFO (248) (298)

Preferred share dividends (152) (153)

Cash available for distribution/reinvestment $ 1,878 $ 2,313

Core and Total LiquidityAS AT SEP 30, 2018 ($ MILLIONS)

Cash and financial assets, net $2,341Undrawn committed credit facilities 1,678Corporate liquidity 4,019Listed partnership liquidity 7,007Uncalled private fund commitments 20,803Total Liquidity $31,829

▪ $4 billion of available liquidity in the form of financial assets and undrawn credit facilities at the corporate level

▪ We have $32 billion of total liquidity available to deploy, including $21 billion of third-party private fund commitments

Capital DeployedInvested $24 billion of capital during the last twelve months on a global basis, including investment of $15 billion in the most recent quarter

FOR THE LTM ENDED ENDED SEP. 30, 2018

Europe 8%

South America 5%

Asia and Other 2%

North America 85%

Co-Investments 3%

Private Funds 19%

Direct 3%

Listed Partnerships75%

Significant Investments Include:

▪ GGP retail mall portfolio ($14.5 billion) ▪ Global commercial and hospitality properties ($2.3 billion) ▪ Infrastructure services company ($0.9 billion)

▪ Spanish renewable power business ($0.7 billion) ▪ Global solar and wind portfolio ($0.7 billion) ▪ TerraForm Power ($0.6 billion)

2017 2019 2021 2023 2025

Realized – FutureRealized – Current

2027

$3,800Realized Carried Interest

($ MILLIONS)

Notes/Assumptions:1. Cumulative carried interest from existing funds only, cumulative carried interest from existing

and future funds is $16 billion2. 2017-2027 estimated results based on existing and target funds. Realized carried interest

determined by accumulated target carried interest over the life of a fund 3. Wind-up of existing fund capital distributed over the last three years of a fund4. In addition to assumptions disclosed herein, there is important information regarding certain

assumptions underlying estimates for carried interest on existing and future funds contained in the 2018 Investor Day presentation, posted on our website

$10BCUMULATIVE1

This document is intended solely for informational purposes. This document is not intended to, and does not constitute an offer or solicitation to sell or a solicitation of an offer to buy any security, product, or service in any jurisdiction in which Brookfield is not licensed to conduct business and/or an offer, solicitation, purchase or sale would be unavailable or unlawful. Brookfield is not making any offer or invitation of any kind by communication of this document and under no circumstances is it to be construed as a prospectus, investment advice, or an advertisement. This fact sheet contains forward-looking statements and information within the meaning of Canadian and U.S. securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, and include words such as “estimates”, “targets”, “plans”, “expectations”, “opinions”, “forecasts”, “projections”, “guidance” or other statements that are not statements of fact. Statements regarding the appropriate multiple to be applied to fee related earnings or carried interest as well as estimates relating to realized carried interest on current and future funds are forward-looking statements. In addition to assumptions disclosed in this fact sheet, there is important information regarding certain assumptions underlying carried interest on existing and future funds contained in the

2018 Investor Day presentation, posted on our website at https://bam.brookfield.com/en/events-and-presentations. Although Brookfield Asset Management believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, no assurance is given that such expectations will prove correct. The reader should not place undue reliance on forward-looking statements and information, as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements in this fact sheet are detailed in Brookfield Asset Management’s documents filed with the securities regulators in Canada and the United States. Nothing contained herein should be deemed to be a prediction or projection of Brookfield’s future performance. Except as required by law, Brookfield Asset Management does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

Growth Potential

FREE C A SH FLOW($ BILLIONS) 20181 20232

Fee bearing capital $ 141 $ 245

Invested capital 33 66

($ MILLIONS)

Free cash flow

Fee related earnings $ 1,218 $ 1,920

Distributions from listed investments 1,478 2,750

Corporate activities3 (451) (670)

Total $ 2,245 $ 4,000

1. LTM ended Sep. 302. Based on September 2018 Investor Day business plan3. Includes preferred share dividends

$183

Operating Model

BROOKFIELD ASSET MANAGEMENT(BAM)

BROOKFIELD INFRASTRUCTURE FUNDS

BROOKFIELD REAL ESTATE FUNDS

BROOKFIELDPROPERTY PARTNERS

(BPY)

50%2

BROOKFIELDRENEWABLE PARTNERS

(BEP)

60%

BROOKFIELDBUSINESS PARTNERS

(BBU)

68%

BROOKFIELDINVESTMENT MANAGEMENT

(Public Securities)

100%

BROOKFIELDINFRASTRUCTURE PARTNERS

(BIP)

30%

BROOKFIELD PRIVATE EQUITY FUNDS

PUBLIC SECURITIES FUNDS 3

DIRECTLY HELD INVESTMENTS 1

1. Includes residential development operations, directly held real assets and financial assets2. Fully-diluted economic ownership interest3. Portfolios of fixed income and equity securities managed on behalf of Investors