Mr. Sikander Rashid reports

BROOKFIELD TO INVEST 20 BILLION EUROS IN FRANCE'S AI INFRASTRUCTURE

At the opening of today's Artificial Intelligence Action Summit in Paris, Brookfield Asset Management Ltd., together with French President Emmanuel Macron, announced a 20-billion-euro infrastructure investment program to support the deployment of artificial intelligence (AI) infrastructure in France. The Brookfield investment will be targeted across data centres and associated infrastructure sectors that are vital for AI deployment.

Up to 15 billion euros of data centre investment will be led by Brookfield's portfolio company, Data4, one of Europe's largest data centre developers, headquartered in Paris. Data4 has existing plans to build over 500 megawatts of data centre capacity located across several regions in France, with an ambition to triple that by 2030 as part of today's announcement. With this, France is projected to be the single largest market for Data4 in Europe.

The investment of a further five billion euros is planned by Brookfield in France across associated AI infrastructure such as data transfer, chip storage and energy generation. The total 20-billion-euro investment is projected to be delivered by 2030.

Mr. Macron declared: "The 20-billion-euro investment by Brookfield notably through Data4 will allow France to remain in the race alongside major AI players. This investment demonstrates France's attractiveness. We have the knowledge, the talents and the decarbonized energy needed to accelerate in AI. We must not slow down; the world is accelerating. This is a battle for independence."

Sikander Rashid, head of Europe, Brookfield, added: "We believe France has the potential to play a pivotal role in the global advancement of AI. To achieve European leadership, it is essential to invest pro-actively in the infrastructure that powers AI services, particularly in data and associated infrastructure. Our 20-billion-euro investment program represents a significant step toward this ambition, laying the foundation for France to compete on the global stage. We are excited to collaborate with stakeholders across France and are looking to expand our investment in data centres to an even greater scale in the future."

Brookfield is one of the world's largest investors in the AI value chain, with more than 150 billion euros invested across digital infrastructure, renewable power and semiconductor manufacturing worldwide. Last year, Brookfield and Microsoft announced the largest-ever renewable power supply deal, underpinning more than 10 billion euros of investment to supply Microsoft's business activities in Europe and North America. In 2022, Brookfield and Intel entered into a $30-billion partnership for the development of Intel's landmark semiconductor foundry in Arizona.

Brookfield has been actively investing in France since 2015 and employs over 7,000 people through its operations. In December, 2024, Brookfield opened an office hub in Paris to support the firm's existing and future investments in France. Brookfield's French portfolio includes investments in residential decarbonization, student and young-professional living, hospitality and logistics, as well as digital and renewable energy infrastructure.

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. 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. The company draws on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles.

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