b r o o k f i e l d a t a g l a n c eQ2 2019

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

$164B 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 over $3.4 billion of annualized fees and target carried interest

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

Invested Capital

$4 4B BAL ANCE SHEET INVES TMENTS

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

▪ Generates $1.7 billion of annualized distributable cash flow

▪ ~80% invested in listed entities

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

$84BPRIVATE FUNDS

$65BLISTED

PARTNERSHIPS

$15BPUBLIC

SECURITIES

$30BLISTED

PARTNERSHIPS

$6BLISTED

INVESTMENTS

$8BUNLISTED

INVESTMENTS

Global Presence

Corporate Offices

A SSET MANAGEMENTFOR THE LTM ENDED JUN. 30, 2019 ($ MILLIONS) Actual Annualized1

Fee revenues $ 1,567 $ 1,710

Direct costs (613) (710)

Performance fees 94 65

Fee related earnings 1,048 1,065

Realized carried interest 536 n/a

Direct costs related to carried interest2 (148) n/a

388 n/a

Asset management FFO 1,436 1,130

Realized carried interest, net (388) n/a

Unrealized carried interest 546 1,660

Direct costs related to carried interest2 (135) (500)

411 1,160

Total asset management $ 1,459 $ 2,225

1. Based on fee bearing capital as at June 30, 2019.2. Direct costs related to realized carried interest included in FFO are realized in the LTM. Direct costs

related to unrealized carried interest are unrealized in the LTM.

ANNUALIZED FEES AND TARGET C ARRYAS AT ($ MILLIONS) Jun. 30, 2019 Jun. 30, 2018Base management fees1

Private funds $ 760 $ 525

Listed partnerships 565 510

Public securities 116 118

Incentive distributions2 257 198

1,698 1,351

Performance fee3 65 65

Transaction and advisory4 12 19

Fee revenues 1,775 1,435

Target carried interest5 1,660 1,155

$ 3,435 $ 2,590

1. Base management fees include $255 million of annualized base fees on Brookfield capital ($252 million from public affiliates and $3 million from private funds).

2. Based on most recent quarterly distributions declared.3. Annualized BBU performance fees assume 10% unit price appreciation 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' results.5. Based on prescribed carried interest for private funds and target gross return. Includes only

third-party capital.

2015 2016 2017 2018 2019

Target Carried InterestFee Revenues

$1,430

$1,950$2,150

$2,590

$3,435

Annualized Fee Revenues AS AT JUN. 30, 2019 ($ MILLIONS)

INVES TED C APITALAS AT JUN. 30, 2019 ($ MILLIONS) Quoted1 IFRS Blended2

BPY $ 9,903 $ 15,307 $ 15,307

BEP 6,516 4,600 6,516

BIP 5,053 1,913 5,053

BBU 3,620 2,454 3,620

Other listed 5,489 5,917 5,489

Total listed investments $ 30,581 30,191 35,985

Unlisted investments 7,346 8,317

Debt and preferred capital (11,206) (11,206)

Total (Invested Capital) $ 26,331 $ 33,096

1. Quoted value based on June 30, 2019 public pricing.2. 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 approximately $1.8 billion in fee revenues annually

▪ Unrealized carry of approximately $1.7 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 Distribution and/or ReinvestmentAS AT AND FOR THE LTM ENDED JUN. 30, 2019 ($ MILLIONS) Annualized 2019Asset Management

Fee related earnings $ 1,065 $ 1,048

Realized carried interest, net — 388

Asset management FFO 1,065 1,436

Invested Capital

Distributions from investments 1,706 1,718

Other invested capital earnings

Corporate activities (488) (495)

Other wholly owned investments (120) 3

Corporate FFO (608) (492)

Preferred share dividends (152) (150)

Cash available for distribution and/or reinvestment $ 2,011 $ 2,512

Core and Total LiquidityAS AT JUN 30, 2019 ($ MILLIONS)

Cash and financial assets, net $ 6,202Undrawn committed credit facilities 7,971Corporate liquidity 14,173Uncalled private fund commitments 35,027Total Liquidity $ 49,200

▪ $7 billion of available liquidity in the form of financial assets and undrawn credit facilities at the BAM level

▪ We have $49 billion of total liquidity available to deploy, including $35 billion of third-party private fund commitments

Capital Invested or CommittedInvested or committed $33 billion of capital for LTM ended June 30, 2019.

Capital Invested FOR THE LTM ENDED ENDED JUN. 30, 2019

Europe 3%

South America 4%

Asia and Other 9%

North America 84%

Co-Investments 12%

Private Funds 27%

Direct 4%

Listed Partnerships57%

Significant Investments Include:

▪ GGP retail mall portfolio ($14.5 billion) ▪ Automotive battery manufacturer ($3.7 billion) ▪ Forest City realty portfolio ($3.5 billion) ▪ Global commercial & hospitality properties ($2.8 billion) ▪ Residential energy infrastructure provider ($2.2 billion)

▪ Australian private health care provider ($1.0 billion) ▪ Natural gas midstream transportation assets ($1.0 billion) ▪ Indian pipeline assets ($1.0 billion) ▪ Infrastructure services company ($0.9 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 billion.2. 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 fund.4. 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) 20191 20232

Fee bearing capital $ 164 $ 245

Invested capital 44 66

($ MILLIONS)

Free cash flow

Fee related earnings $ 1,048 $ 1,920

Distributions from investments 1,718 2,750

Corporate activities3 (642) (670)

Total $ 2,124 $ 4,000

1. For the LTM ended Jun. 30, 2019.2. Based on September 2018 Investor Day business plan.3. Includes preferred share dividends.

$183

Operating Model

BROOKFIELD ASSET MANAGEMENT(BAM)

BROOKFIELD INFRASTRUCTURE FUNDS

BROOKFIELD REAL ESTATE FUNDS

BROOKFIELDPROPERTY PARTNERS

(BPY)

51%2

BROOKFIELDRENEWABLE PARTNERS

(BEP)

61%

BROOKFIELDBUSINESS PARTNERS

(BBU)

63%

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 assets.2. Fully-diluted economic ownership interest.3. Portfolios of fixed income and equity securities managed on behalf of Investors.