Mr. Sikander Rashid reports

BROOKFIELD TO ADVANCE AI INFRASTRUCTURE IN SWEDEN THROUGH SEK 95 BILLION INVESTMENT

Brookfield Asset Management Ltd. will make an investment of up to 95 billion Swedish kroner ($10-billion) to support the development of artificial intelligence infrastructure in Sweden. This investment represents one of Brookfield's largest AI investments in Europe and extends the partnership with the Swedish government, its public authorities, academia and businesses in the region.

The Brookfield investment will be centred on a new, large AI centre in Strangnas, Sweden, creating a strategic infrastructure asset to support the country's national AI strategy. Brookfield will sign a land allocation agreement for 350,000 square metres of additional land, enabling the data centre site to more than double its capacity from 300 megawatts to 750 MW. The new site will create over 1,000 new permanent jobs and add another 2,000 jobs to support the 10-to-15-year construction process. The facility will be the first of its kind in Sweden and one of the first in Europe.

Sikander Rashid, head of Europe, Brookfield, said: "We are pleased to extend our partnership with Sweden and support their ambitions to become a leading AI hub in Europe. To compete in the development of AI and realize its economic productivity, it is important to invest at scale in the infrastructure underpinning this technology. This extends beyond data centres and into data transfer, chip storage and energy generation -- today marks another important step for boosting sovereign compute capabilities for both public services and private enterprises in Europe."

Brookfield is one of the world's largest investors in the AI value chain, with more than 100 billion euros invested across digital infrastructure, renewable power and semiconductor manufacturing worldwide. Earlier this year, Brookfield announced a 20-billion-euro infrastructure investment program in France, which includes a 10-billion-euro investment into the first AI factory in the country. This site will create one gigawatt of new capacity, making it Europe's largest AI infrastructure cluster.

Brookfield has been actively investing in Sweden since 2018 and has extensive operations across the country, including investments in telecom towers, renewable power, social infrastructure and logistics assets.

About Brookfield Asset Management Ltd.

Brookfield Asset Management is a leading global alternative asset manager, headquartered in New York, with over $1-trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. The company invests client capital for the long-term, with a focus on real assets and essential-service businesses that form the backbone of the global economy. Brookfield Asset Management offers a range of alternative investment products to investors around the world -- including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors. The company draws on its heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles.

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