An anonymous director reports

BROOKFIELD ASSET MANAGEMENT ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Brookfield Asset Management Ltd. has received the requisite approval for the renewal of its normal course issuer bid providing the option to purchase up to 37,123,295 Class A limited voting shares, representing approximately 10 per cent of the public float of Brookfield Asset Management's outstanding Class A shares. Purchases under the bid will be made on the open market through the facilities of the New York Stock Exchange (NYSE), the Toronto Stock Exchange (TSX) and/or alternative trading systems. The period of the normal course issuer bid will extend from Jan. 13, 2025, to Jan. 12, 2026, or an earlier date should Brookfield Asset Management complete its purchases. Brookfield Asset Management will pay the market price at the time of acquisition for any Class A shares purchased, or such other price as may be permitted.

As at Dec. 31, 2024, the number of Class A shares issued and outstanding totalled 443,135,746, of which 371,232,957 shares represented the public float. The maximum daily purchase on the TSX under this bid will be 251,030 Class A shares, which is 25 per cent of 1,004,122 (the average daily trading volume for Class A shares on the TSX for the six months ended Dec. 31, 2024).

Of the 34,605,494 Class A shares approved for purchase under Brookfield Asset Management's prior normal course issuer bid that commenced on Jan. 11, 2024, and will expire on Jan. 10, 2025, Brookfield Asset Management has not made any purchases of its Class A shares as of Jan. 6, 2025.

Brookfield Asset Management is renewing its normal course issuer bid to retain the option to acquire its Class A shares where this aligns with its investment and capital allocation strategies. All Class A shares acquired by Brookfield Asset Management under this bid will be cancelled and/or purchased by a non-independent trustee pursuant to the terms of Brookfield Asset Management's long-term incentive plans.

Brookfield Asset Management has entered into an automatic purchase plan in relation to the normal course issuer bid. The automatic purchase plan allows for the potential purchase of Class A shares during the term of the normal course issuer bid, subject to certain trading parameters, at times when Brookfield Asset Management ordinarily would not be active in the market due to its own internal trading blackout period, insider trading rules or otherwise. Outside of these periods, Class A shares will be repurchased in accordance with management's discretion and in compliance with applicable law.

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. 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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