Brookfield Private Advisors LLC, a wholly owned subsidiary of Brookfield, is a registered broker dealer with the SEC and a FINRA Member. Certain employees of Brookfield’s Global Client Group may be registered with Brookfield Private Advisors LLC. Brookfield Private Capital (UK) Limited, a wholly owned subsidiary of Brookfield, is authorised and regulated by the United Kingdom’s Financial Conduct Authority (authorisation number 730073). LFE European Asset Management S.à r.l. (trading as Brookfield Asset Management (Europe) S.à r.l.) is a joint venture entity that is 50% owned by Brookfield and is authorised and regulated by the Commission de Surveillance du Secteur Financier. Brookfield Private Capital (DIFC) Limited, a subsidiary of Brookfield, is authorised and regulated by the Dubai Financial Services Authority (authorization number F006028). None of Brookfield, its associates, directors, members, shareholders, partners, officers, employees, advisers, agents or affiliates (together, its “Related Persons”) makes any express or implied representation, warranty or undertaking with respect to this communication. Accordingly, and to the maximum extent permitted by law, none of Brookfield or its Related Persons shall be liable (except in the case of fraud) for any loss (whether direct, indirect or consequential) or damage suffered by any person as a result of relying on any statement in, or omission from, this communication. This communication has been prepared for institutional and qualified investors only. It has not been filed with FINRA and may not be reproduced, shown, quoted to, or used with members of the public. 

This communication is for informational purposes only and are not investment, professional, legal or other advice nor are they to be relied upon in making an investment or other decision. The communication is not an offer to sell, or a solicitation of an offer to buy and do not constitute an invitation or inducement of any sort to any person. Materials are not intended for reproduction or use with the public, and may not be reproduced or distributed in whole or in part, for any purpose, without the express consent of Brookfield. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice.

An investment in a Brookfield-managed fund is speculative and involves significant risks, including loss of the entire investment. There can be no guarantees that Brookfield’s investment objective will be achieved or that the investment will be successful. Interests in a Brookfield-managed fund will generally be illiquid as there will be no secondary market for such interests and none is expected to develop. There will be restrictions on transferring interests in the fund. Investments may be leveraged and its investment performance may be volatile. An investment in a Brookfield-managed fund is suitable only for sophisticated investors and requires the financial ability and willingness to accept the risks and lack of liquidity that are characteristic of an investment in a Brookfield-managed fund. Any references to “committed capital” include all pledged commitments. For full description of a fund’s risks, please refer to a fund’s offering documents or prospectus.

Except where otherwise indicated, the information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, is subject to change, and will not be updated or otherwise revised to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. 
Brookfield may not be able to achieve its investment objectives (including target returns) for various reasons, as set out in more detail elsewhere in this communication and in the applicable offering documents. 

Certain information contained in this communication may constitute “forward-looking statements” as defined in applicable securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, and include statements regarding Brookfield’s competitive strengths, goals, expansion, growth, future success, operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, and outlook. Words such as “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan” and “believe” are intended to identify forward-looking statements. No reliance should be placed on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Brookfield to differ materially. Except as required by law, Brookfield undertakes no obligation to update or revise statements or information in this communication.

Any target returns contained in this communication are for illustrative and informational purposes only. Target gross returns are based on historical performance for similar investment strategies and Brookfield’s expectations regarding the returns that it will underwrite for the types of investment opportunities that it expects to be available for the applicable fund or investment pool discussed in this communication.  There can be no assurance that Brookfield will be able to source investment opportunities that it can underwrite in line with the target gross returns, or that the underwritten returns for any of such fund’s or pool’s investments will be achieved. Target gross returns do not reflect fund expenses, management fees or carried interest (or equivalent fees), which reduce an investor’s returns. Target net returns are prepared based on an illustrative model that takes into account these items, which includes assumptions regarding applicable management fees and carried interest (which reflect the highest management fee and carried interest rates expected to be charged to investors in the fund), fund expenses (which are estimated by the manager based on its experience in the fund and/or similar funds), the expected hold period of the fund’s investments, and other factors. Due to various risks, uncertainties and changes (including changes in economic, operational, political or other circumstances), the actual performance of the applicable fund or investment pool could differ materially from the target returns set forth herein. In addition, industry experts may disagree with the assumptions used in presenting the target returns. No assurance, representation or warranty is made by any person that the target returns will be achieved, and undue reliance should not be put on them. Additional information about the assumptions used in determining the target returns and the factors that could cause actual results to differ materially from the target returns are available to qualified investors upon request. Prior performance is not indicative of future results and there can be no guarantee that the applicable fund or investment pool will achieve the target returns or be able to avoid losses.

Any transactions described in this communication as having been engaged in by Brookfield are included as representative transactions for illustrative purposes only. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. No assurance or representation is made, that comparable results or any target returns disclosed in this communication will be achieved. Any securities mentioned are for illustrative purposes only and are not intended to be an investment recommendation.

This communication may contain aggregated investment returns of a set(s) of investments that were not made through fund structures in which fund expenses, management fees (or equivalent fees) or carried interest were applicable, and/or through multiple fund structures with varying expense, fee and carried interest parameters. As a result, any net returns presented in this communication with respect thereof are hypothetical figures that reflect certain assumptions that will be provided to qualified investors upon request. Further information, including a hypothetical net return calculation in respect of any particular set of economic terms, will be provided to qualified investors upon request. If these investments were made through a fund, they would have been subject to additional restrictions, including those related to diversification, and may have been subject to different economic terms, each of which could have materially impacted performance.

In considering investment performance information contained herein, prospective investors should bear in mind that past performance is not necessarily indicative of future results and there can be no assurance that comparable results will be achieved, that an investment will be similar to the historic investments presented herein (because of economic conditions, the availability of investment opportunities or otherwise), that targeted returns, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved. Any information regarding prior investment activities and returns contained herein has not been calculated using generally accepted accounting principles and has not been audited or verified by an auditor or any independent party. Unless otherwise indicated, internal rates of return (including targeted rates of return) are presented on a “gross” basis (i.e., they do not reflect management fees (or equivalent fees), carried interest (or incentive allocation), taxes, transaction costs and other expenses to be borne by investors, which in the aggregate are expected to be substantial and which would reduce the actual returns experienced by an investor). Unless otherwise indicated, returns presented on a “net” basis include costs and timing of any subscription facility, carried interest (or incentive allocation), management fees (or equivalent fees) and other fund expenses as applicable to the average investor, but do not reflect any potential tax burdens to an individual investor. Nothing contained herein should be deemed to be a prediction or projection of future performance.  

This communication may include Brookfield’s estimates of the projected performance of certain unrealized investments currently held by other Brookfield-managed funds, including any predecessor funds, and investment programs managed by Brookfield. Although this information is forward-looking by its nature and actual results are likely to differ, perhaps materially, from these estimates, Brookfield believes that the estimates have a reasonable basis. 

Any changes to assumptions could have a material impact on projections and actual returns. Actual returns on unrealized investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, legal and contractual restrictions on transfer that may limit liquidity, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the valuations used in the prior performance data contained herein are based. Accordingly, the actual realized returns on unrealized investments may differ materially from the returns indicated herein. Brookfield will provide more detailed information on the material factors or assumptions that were applied in making the projections and the material factors that could cause actual results to differ materially from the projections to any qualified investor on request. 

Certain of the information contained herein is based on or derived from information provided by independent third-party sources. While Brookfield believes that such information is accurate as of the date it was produced and that the sources from which such information has been obtained are reliable, Brookfield does not guarantee the accuracy or completeness of such information, and has not independently verified such information or the assumptions on which such information is based.  This document is subject to the assumptions (if any) and notes contained herein. 

Rankings are provided for informational purposes only and should not be used as the sole basis for engaging Brookfield for advisory services. Please refer to the more thorough disclosure and additional information about the criteria used in making these rankings via the website of the publication and/or organization granting such recognition.

The information in this document does not take into account your investment objectives, financial situation or particular needs and nothing contained herein should be construed as legal, business or tax advice. Each prospective investor should consult its own attorney, business adviser and tax advisor as to legal, business, tax and related matters concerning the information contained herein. 

Neither this document nor the interests offered hereby have been approved by the United States Securities and Exchange Commission, the United Kingdom’s Financial Conduct Authority, the Australian Securities and Investments Commission, the Dubai Financial Services Authority  or by any regulatory or supervisory authority of any state or other jurisdiction, including Canada, nor has any such authority or commission passed on the accuracy or adequacy of this document. The information contained herein is subject to correction, completion, verification and amendment. Any representation to the contrary is a criminal offense. 

Unless otherwise noted, all references to “$” or “Dollars” are to U.S. Dollars. All representations are made as of the date of transmission of this communication, unless otherwise expressly indicated, and no duty to update said representations is assumed.