Mr. Simon Maine reports

BROOKFIELD ASSET MANAGEMENT ANNOUNCES NEW MEETING DATE FOR SPECIAL MEETING ON PROPOSED ARRANGEMENT

Following the recent resumption of mail service in Canada, Brookfield Asset Management Ltd. has set a new meeting date of Jan. 27, 2025, for its coming special meeting of shareholders in respect of the previously announced arrangement to enhance its corporate structure. In addition, Brookfield Asset Management filed its management information circular in connection with the meeting, an electronic copy of which can be accessed on the company's website under "Notice and Access 2025" and on EDGAR and SEDAR+.

Details of the meeting

The meeting will be held on Monday, Jan. 27, 2025, at 10 a.m. EST in a virtual meeting format by live audio webcast. At the meeting, shareholders will be asked to approve: (i) a special resolution approving the arrangement; and (ii) a special resolution increasing the number of directors of Brookfield Asset Management from 12 to 14, all as more particularly described in the circular.

The board of directors of Brookfield Asset Management, with Bruce Flatt (who serves as chief executive officer of both Brookfield Asset Management and Brookfield Corp.) having abstained, based on, among other things, the recommendation of the governance, nominating and compensation committee of the board, unanimously determined that the arrangement is in the best interests of Brookfield Asset Management and unanimously approved the arrangement. Accordingly, the board unanimously recommends that shareholders vote for the arrangement resolution at the meeting.

If the arrangement resolution is approved by shareholders at the meeting, Brookfield Asset Management intends to obtain, on Jan. 30, 2025, a final order from the Supreme Court of British Columbia approving the arrangement. Subject to obtaining the final order and other customary closing conditions, the arrangement is expected to close in February, 2025.

The director increase resolution will enable the board to fill the two open positions created by the increase with directors that are domiciled in the United States, consistent with the substantial portion of Brookfield Asset Management's asset management activities that are conducted in the United States. Moreover, the increase in the number of directors on the board will contribute to enabling Brookfield Asset Management to: (1) ensure that, as Brookfield Asset Management continues to grow, the board is of an adequate size to fulfill its oversight and stewardship responsibilities; (2) enhance the desired diversity of skills and experience among the directors of Brookfield Asset Management; and (3) further facilitate the board's succession planning.

The meeting will be held in a virtual meeting format only. Shareholders will be able to listen to, participate in and vote at the meeting in real time through a Web-based platform instead of attending the meeting in person. You can attend and vote at the virtual meeting by joining the live audio webcast and entering your control number and password "brookfield2025" (case sensitive). See "Q&A on Voting" in the circular for more information on how to listen, register for and vote at the meeting.

Brookfield Asset Management is posting an electronic version of the circular on its website for shareholder review -- a process known as notice and access. Under notice and access, if you would like paper copies of the circular, please contact Brookfield Asset Management at 1-866-989-0311 or bam.enquiries@brookfield.com and we will mail materials to you free of charge within three business days of your request, provided the request is made before the date of the meeting or any adjournment thereof. In order to receive the circular in advance of the deadline to submit your vote, we recommend that you contact Brookfield Asset Management before 5 p.m. EST on Jan. 9, 2025. All shareholders who have signed up for electronic delivery of the circular will continue to receive it by e-mail.

Information for registered holders

Registered shareholders and duly appointed proxyholders (including non-registered shareholders who have duly appointed themselves as proxyholder) who attend the meeting on-line will be able to vote by completing a ballot on-line during the meeting through the live webcast platform.

If you are not attending the virtual meeting and wish to vote by proxy, Brookfield Asset Management must receive your vote by 5 p.m.EST on Thursday, Jan. 23, 2025. You can cast your proxy vote in the following ways:

• On the Internet at the Meeting Vote website;
• Fax your signed proxy to 416-595-9593;
• Mail your signed proxy using the business reply envelope accompanying your proxy;
• Scan and send your signed proxy to proxyvote@tmx.com;
• Or call by telephone at 1-888-489-5760.

Registered shareholders that have not received a form of proxy with a control number are encouraged to contact Brookfield Asset Management's transfer agent, TSX Trust Company, at 1-866-751-6315 (within North America) or 416-682-3860 (outside of North America) or on-line at the TSX Trust website. Once you have obtained your control number(s), you can vote your shares represented by such control number(s) as set out above.

Information for beneficial holders

Non-registered shareholders will receive a voting instruction form with their physical copy of this notice. If you wish to vote but not attend the meeting, the voting instruction form must be completed, signed and returned in accordance with the directions on the form. You may also vote by telephone or on the Internet prior to the meeting by following the instructions on the voting instruction form.

Beneficial holders that have not received a voting instruction form with a control number are encouraged to contact their brokerage firm, financial institution or intermediary. Once you have obtained your control number(s), you can vote your shares represented by such control number(s) in accordance with the instructions provided by your brokerage firm, financial institution or intermediary.

About Brookfield Asset Management Ltd.

Brookfield Asset Management is a leading global alternative asset manager with over $1-trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. Brookfield Asset Management 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. Brookfield Asset Management draws on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles.

We seek Safe Harbor.