Press Releases 2024

Full-year distributable earnings of $4. 8 billion, net income of $5. 1 billion Quarterly dividend increased 14% Brookfield Corporation (NYSE: BN, TSX: BN) announced strong financial results for the fiscal year ended December 31, 2023. Nick Goodman, President of Brookfield Corporation, said: "Our asset management business experienced very strong capital raising momentum, our insurance solutions business had a transformational year, and our operating businesses continued to demonstrate resilience. These, combined with our access to multiple capital sources, enabled us to make a number of valuable acquisitions during the year." The company also said, "We expect to repurchase more than $600 million of shares in 2023 and acquire at least an additional $1 billion this year, while adding value to all remaining shares. With significant growth drivers built into the business, we are well positioned to continue to deliver strong performance and deliver our targeted 15%+ return per share to shareholders over the long term." Operating Results Unrealized distributable earnings (EPS), adjusted for a special allocation of 25% for the asset management business in December 2022, increased 17% sequentially and 12% per share. Unaudited For periods ended December 31 (US$ millions, excluding per share amounts)

Months

Years ended	2023					2022
	2023	2022	2023	2022
5. 105	$	5. 195	$	44	$	Unrealized distributable earnings 2, 3	$	1. 209
1. 142	4. 223	4. 314	- Adjusted for special dividends 2, 3, 4	1. 209
1. 035	4. 223	3. 825	- Adjusted for special dividends 2, 3, 4	0. 76
0. 65	2. 66	2. 38	Distributed earnings 2, 3	1. 312
1. 498	4. 806	5. 229	- Per share Brookfield 2, 3	0, 83
0, 94	3. 03	3. 25	Distributable earnings for the quarter were $649 million, or $0. 41 per share, and for the full year were $2. 6 billion, or $1. 61 per share.	Private equity strategies continued to receive strong client interest, resulting in $93 billion in capital raised, bringing total capital raised to $143 billion, including approximately $50 billion expected at closing for American Equity Life (AEL). Capital on hand as of December 31, 2023 was $457 billion, an increase of $39 billion, or 9%, from the prior year.

• Fee-related revenues increased 6% year over year.
• The 2024 fundraising outlook remains strong and is expected to contribute significantly to earnings growth.
• Distributable operating income was $253 million ($0. 16/share) for the quarter and $740 million ($0. 47/share) for the full year.
• With the liquidation of Argo Group and the launch of new annuities, the company's insured assets increased to approximately $60 billion. The average investment portfolio return on insured assets was 5. 5%, approximately 2% above the average cost of capital.

• As of the end of 2023, the business had annualized revenues of $940 million. With the imminent closure of AEL, the Insurance Solutions business is expected to grow to more than $100 billion in total assets and more than $1. 3 billion in annualized revenues.
• Through our retail real estate and insurance solutions platforms, we are on track to achieve $1. 5 billion in monthly retail inflows in 2024.
• Distributable income was $400 million ($0. 25 per share) for the quarter and $1. 5 billion ($0. 92 per share) for the full year.
• Funds from operations in our Renewable Energy, Transition & Infrastructure businesses increased 7% for the full year, supporting strong cash distributions. Our Private Equity business continued to deliver strong revenue growth, benefiting from the fundamental nature of the services we provide, with adjusted EBITDA up 11%.

• In our Real Estate business, our core portfolio delivered same-store NOI growth of 7% year over year. We continue to meet tenant demand with over 15 million square feet signed for lease across our office assets, and our core retail portfolio delivered 21% increase in tenant sales per square foot compared to 2019.
• Revenue generation from mature assets was $103 million ($0. 07/share) for the quarter and $583 million ($0. 37/share) for the year.
• This was essentially all trading at above IFRS book value, validating the carrying value of the investments.

We recorded net realized carried interest of $570 million for the year, and our transferable pool of capital has been growing year over year, giving us significant cash flow going forward.

• Our accumulated unrealized carried interest is now $10. 2 billion, which is an 11% increase from last year, net of realized carried interest.
• At the end of the current quarter, new investment capital was $ 122 billion.
• In the current fiscal year, the Company returned $ 1. 1 billion to shareholders through regular dividends and repurchase i n-house shares, and the total purchase of its own shares exceeded $ 600 million.

Available capital is $ 122 billion, which includes $ 38 billion, financial assets, and unused credit slots in our and subsidiaries.

• The weighted average of the balance sheet is 13 years, and the maturity by the end of 2025 is gentle.
• Access to the capital market continues to be good. In December, DBRs raised the rating of no n-secure ordinary corporate bonds to A, which reflects the strength of our franchise and continuous revenue growth.
• Connected balance sheet
• Unexpected (US $ 1 million)

December 31st

December 31st	2023		2023
	2023	2022
11. 222
14. 396	$	Other financial assets	$	28. 324
26. 899	Accessories and other receivables and others	31. 001
30. 208	Product inventory	11. 412
12. 843	Investment of equity division method	59. 124
47. 094	Investment real estate	124. 152
115. 100	Real estate, factory and equipment	147. 617
124. 268	Intangible fixed assets	38. 994
38. 411	Reputation and customer	34. 911
28. 662	Deferred tax assets	3. 338
3. 403	Total assets	490. 095
441. 284	$	Debt and capital	$	Corporation borrowing
12. 160
11. 390	$	According to the receivables and the other	$	59. 011
57. 941	No n-recovery loan	221. 550
202. 684	Debt of the owner company	4. 145
4. 188	Deferable tax debt	24. 987
23. 190	justice	Lotories of shares
122. 465
98. 138	$	Priority stock capital	$	4. 103
4. 145	Ordinary equity equity	41. 674
168. 242	39. 608	141. 891	Total capital	168. 242
141. 891	141. 891	168. 242
441. 284	$	Debt and capital	$	Corporation borrowing

First quarter

Years ended	2023							2022
	2023	2022	2023	2022
24. 213	$	95. 924	$	92. 769	$	Direct expenses 1	$	(18. 168
(18. 218	(72. 334	)	(70. 828	)	Other income and profit	)	4. 256	)
6. 501	1. 594	989	Accounting equity profit	429
2. 068	2. 613	273	Interest rate expenditure	-Corable borrowing
(142
(158	(596	)	(527	)	-O n-secured loan	)	Same branch	)
(3. 637
(3. 127	(13. 195	)	(10. 175	)	Acquisition (after deduction for sale) 2	)	(260	)
(1. 392	Excessive loan 2	)	—	(6	)	—
(320	Corporate cost	)	—	(16	)	—
(33	(69	)	(122	)	Fair of fair value	)	(1. 326	)
(1. 811	(1. 396	)	(977	)	Depreciation and depreciation costs	)	(2. 427	)
(1. 989	(9. 075	)	(7. 683	)	Income tax	)	(87	)
(95	(1. 011	)	(1. 469	)	net income	)	3. 134	)
5, 105	$	5. 195	$	44	$	Unrealized distributable earnings 2, 3	$	1. 209
699
(316	$	1. 130	$	2. 056	)	$	No n-dominant equity	$	2. 435
3. 975	3. 139	360	3. 134	5, 105
$	5. 195	$	44	$	Unrealized distributable earnings 2, 3	$	1. 209
0, 42
(0, 23	$	0, 61	$	1. 19	)	$	key	$	0, 43
(0, 23	0, 62	1. 19	)	1. The abov e-mentioned direct expenses do not include depreciation expenses. 2. The interest paid for the acquisition completed in the year ended on December 31, 2023, after deducting a reserve, and upgrading.	Summary financial performance

Distributable profit

Excluding spontaneous expenditures for the fiscal year ending on December 31 ($ 1 million)

Month

Ending year	2023							2022
	2023	2022	2023	2022
2. 554	$	2. 944	$	702	$	Insurance solution	$	253
740	Befos	170	102	388
417	next	100	79	400
319	BBU	75	9	300
36	Bpg	9	218	33
733	others	251	(8	854
(43	(53	)	11	Business company	)	400	)
1. 462	1. 534	446	Company and other costs	(93
(176	(533	)	(552	)	Pr e-realized distribution profit 1	)	1. 209	)
1. 142	4. 223	4. 314	- Adjusted for special dividends 2, 3, 4	1. 209
570	Gain in disposal of major investment assets	280	3	555
13	Distributable profit 1	76	1. 312	360
1. 498	$	4. 806	$	5. 229	$	- Per share Brookfield 2, 3	$	0, 83

Excluding the spontaneous factor during the period ending on December 31 (US $ 1 million)

3 months ended

Ending year	2023							2022
	2023	2022	2023	2022
5, 105	$	5. 195	$	44	$	Unrealized distributable earnings 2, 3	$	1. 209
1. 097
2. 902	1. 840	938	Fair and other fluctuations and others	1. 549
1. 811	1. 952	Depreciation and depreciation costs	2. 427	977
(1. 989	9. 075	7, 683	Gain in net income in the current period	(4. 424
(1. 280	(6. 080	)	(2. 604	)	Deferred tax	)	(416	)
(285	(897	)	No n-dominant ownership of the above items 1	)	(2. 064	)	191
(1. 802	(7. 941	)	(8, 109	)	Deduction: Net of substantial equity	)	(100	)
(280	(570	)	(555	)	Driving capital (net amount)	)	6	)
677	(304	7	Pr e-realized distribution profit 2	1. 209	)
1. 142	4. 223	4. 314	- Adjusted for special dividends 2, 3, 4	1. 209
570	Gain in disposal of major investment assets	280	3	555
13	Distributable profit 1	76	1. 312	360
1. 498	$	4. 806	$	5. 229	$	- Per share Brookfield 2, 3	$	0, 83

Quarter

Year ended

Ending year	2023							2022
	2023	2022	2023	2022
5, 105	$	5. 195	$	44	$	Unrealized distributable earnings 2, 3	$	1. 209
3. 975	(3. 139	)	Net income (loss) attributable to shareholders of the Company	)	699	)	(316	)
1. 130	1. 130	2. 056	)	No n-dominant equity	2. 435
(166	Business company	)	Net income (loss) attributable to common shareholders	)	656	)	(355	)
964	1. 906	Reduction effect of subsidiary share exchange	)	3	5
Net income (loss) attributable to common shareholders, including dilution effect	Distributable profit 1	—	(355	5
969	$	1. 911	$	Reduction effect of subsidiary share exchange	)	$	1. 540, 1	$	1. 574, 8
1. 558, 5	1. 567, 5	Dilutive effect of conversion of options and restricted stock for treasury stock2 and exchangeable shares of subsidiaries	40, 8	29. 7
40. 7	Stock and stock equivalents	—	1. 580, 9	1. 574, 8
1. 588, 2	1. 608, 2	Dilutive effect of conversion of options and restricted stock for treasury stock2 and exchangeable shares of subsidiaries	0, 42	(0, 23
0, 61	$	0, 61	$	1. 19	)	$	key	$	0, 43

The contents described here are based on information excerpted from the thre e-month and on e-year financial statements that were created on December 31, 2023, which were mainly created using IASB issued by IASB. The amount is not audited by the external auditors of BrookField Corporation.

Prior to the publication of this book, the BROOKFIELD CORPORATION Board of Directors has examined and approved the books, including unpopular consolidated financial statements.

Information on our dividends can be viewed by our website, dividends/ stock dividends.

Quarterly financial results briefing material

Investors, analysts, and other stakeholders include Brookfield Corporation's website www. Bn. Brookfield. COM reports and submitted documents sections, the fourth quarter of the Brookfield Corporation, shareholder communication, supplementary information. You can access.

If you would like to participate in a conference from 10:00 am (standard time in the eastern United States) today. VEVENT. com/register/bid6d208f8e3d945D3895A5237B545F122. If you register, the dia l-in number and unique PIN will be sent by email. The conference call will be broadcast live on https: // edge. Media-server. Com/mmc/P/K46R888G. For those who cannot attend a conference, the telecommodation replay will be archived and can be used until February 8, 2025. To access this replay, https: // edge. Media-server. Com/mmc/P/K46R888G.

About Brookfield Corporation

Brookfield Corporation is one of the world's leading Wels managers for foundations and individuals around the world. In the world's largest on e-year pool, it invests in real assets, which are the core of the world economy, and provides returns after adjusting the risks for stakeholders. In other words, investment through a direct investment of $ 150 billion, investment through Brookfield Asset Management, one of the world's leading alternative asset management companies with over $ 900 billion assets, and currently have $ 60 billion assets. It is an investment. In the long term, we are focusing on providing more than 15%return to shareholders a year. Brookfield Corporation is open to New York and Toronto (NYSE: bn, TSX: bn).

The Brookfield Corporation's past audit annual reports and unusual quarter reports have been submitted to Edgar and Sedar+, and are also published in the company's website www. BrookField. com investor sections. In addition, the hard copy of the annual report and the quarterly report can be obtained for free by claim.

For more information, please visit the website of www. bn. BROOKFIELD. com or contact the following:

No n-IFR and performance indicators

This press release and attached financial information are based on the International Financial Report Standards (IASB) issuing the International Accounting Standards Council (IASB) unless otherwise refused.

Distributed profit (Distributed Earnings, hereinafter "DE"). DE is a total of the distributions from the asset management business, distributions from insurance solutions, distribution from the ownership of investment, rea l-interest, and the real achievement associated with the sale of major investment. It is a deduction of the profits from. Priority stock dividends and stock remuneration costs. We also report to DE before reciting the gain of the realization of the realized interest and the Principal Investment. These indicators believe that they will provide information on the interests received by the company, which can be used for distribution to shareholders or reinvesting in businesses.

We will explain in more detail about the realization interest rate and the gain of the realization:

Realized Carry Interests shows the contract of investment revenue generated by private recruitment funds, taking into account the minimum return requirements of customers. The actual carry interview will be determined by a thir d-party fund that is no longer affected by future investment results.

De has the gain from the principal investment, as the purchase and sale of direct assets from direct investment is the normal part of the company's business. The gain in the deeds includes the net income and the profit and loss recorded in the current period, and the change of the fair value that was not included in the past DE period and the excess balance recorded during the past period are adjusted. < SPAN> Brookfield Corporation's Past Annual Report and Unexpected Fort y-year reports are submitted to Edgar and Sedar+, and have been published in the company's website www. I am. In addition, the hard copy of the annual report and the quarterly report can be obtained for free by claim.

For more information, please visit the website of www. bn. BROOKFIELD. com or contact the following:

• No n-IFR and performance indicators
• This press release and attached financial information are based on the International Financial Report Standards (IASB) issuing the International Accounting Standards Council (IASB) unless otherwise refused.

Distributed profit (Distributed Earnings, hereinafter "DE"). DE is a total of the distributions from the asset management business, distributions from insurance solutions, distribution from the ownership of investment, rea l-interest, and the real achievement associated with the sale of major investment. It is a deduction of the profits from. Priority stock dividends and stock remuneration costs. We also report to DE before reciting the gain of the realization of the realized interest and the Principal Investment. These indicators believe that they will provide information on the interests received by the company, which can be used for distribution to shareholders or reinvesting in businesses.

We will explain in more detail about the realization interest rate and the gain of the realization:

• Realized Carry Interests shows the contract of investment revenue generated by private recruitment funds, taking into account the minimum return requirements of customers. The actual carry interview will be determined by a thir d-party fund that is no longer affected by future investment results.
• De has the gain from the principal investment, as the purchase and sale of direct assets from direct investment is the normal part of the company's business. The gain in the deeds includes the net income and the profit and loss recorded in the current period, and the change of the fair value that was not included in the past DE period and the excess balance recorded during the past period are adjusted. The Brookfield Corporation's past audit and unprofessional quarterly reports have been submitted to Edgar and Sedar+, and are also published in the company's website www. Brookfield. com investor sections. In addition, the hard copy of the annual report and the quarterly report can be obtained for free by claim.
• For more information, please visit the website of www. bn. BROOKFIELD. com or contact the following:

No n-IFR and performance indicators

This press release and attached financial information are based on the International Financial Report Standards (IASB) issuing the International Accounting Standards Council (IASB) unless otherwise refused.

Distributed profit (Distributed Earnings, hereinafter "DE"). DE is a total of the distributions from the asset management business, distributions from insurance solutions, distribution from the ownership of investment, rea l-interest, and the real achievement associated with the sale of major investment. It is a deduction of the profits from. Priority stock dividends and stock remuneration costs. We also report to DE before reciting the gain of the realization of the realized interest and the Principal Investment. These indicators believe that they will provide information on the interests received by the company, which can be used for distribution to shareholders or reinvesting in businesses.

We will explain in more detail about the realization interest rate and the gain of the realization:

Realized Carry Interests shows the contract of investment revenue generated by private recruitment funds, taking into account the minimum return requirements of customers. The actual carry interview will be determined by a thir d-party fund that is no longer affected by future investment results.

De has the gain from the principal investment, as the purchase and sale of direct assets from direct investment is the normal part of the company's business. The gain in the deeds includes the net income and the profit and loss recorded in the current period, and the change of the fair value that was not included in the past DE period and the excess balance recorded during the past period are adjusted.

Cash flow due to sales activities (hereinafter referred to as "FFO". We define FFO as net income that belongs to our shareholders before the deduction of the deferred tax deduction, the FFO fluctuations, depreciation expenses, and deferred tax deduction. FFOs, which are not recorded in the net income determined in accordance with, also include the FFOs that are fully diluted.

FFO consists of the following items:

Sales FFO indicates the company's ownership of direct expenses and interest paid interests. It does not include a real interest rate difference and disposal gain, a fluctuation of fair value, a depreciation cost, depreciation cost, or an yield tax. The FFO excludes real interest rates, fair fluctuations, depreciation, depreciation costs, depreciation costs, and deferred taxes. Includes a equity ratio. This index is displayed because it is useful in explaining the achievements and differences of FFO.

Failure benefits according to the above definitions.

FFOs are included in FFOs because the benefit of disposal is considered to be part of normal business activities. The gain on disposal is included in the net income and the profit and loss recorded in the current period, and the FFOs in the previous fiscal year include the fluctuations and r e-evaluated surplus recorded in the unreliable period. Adjusted.

We use DE and FFO to evaluate our business performance and the business value of the Brookfield Corporation, and many shareholders and analysts believe that these indicators will find value.

Net operating income ("NOI") is a direct deducted from operating income, excluding the effects of depreciation and depreciation costs of real estate. The NOI shows this indicator because it is an important indicator of our abilities that affect our real estate business performance. Since NOI excludes the depreciation expenses of regular foreign items and real estate, it is an indications indicators that reflect the impact on the operating rate and rental trends in comparison with the ove r-year. < SPAN> Cash flow due to sales activities (hereinafter referred to as "FFO". We define FFO as the net income that belongs to our shareholders before the deduction of the deferred tax deduct It also includes FFOs that are not included in the net income determined according to the IFRS.

FFO consists of the following items:

Sales FFO indicates the company's ownership of direct expenses and interest paid interests. It does not include a real interest rate difference and disposal gain, a fluctuation of fair value, a depreciation cost, depreciation cost, or an yield tax. The FFO excludes real interest rates, fair fluctuations, depreciation, depreciation costs, depreciation costs, and deferred taxes. Includes a equity ratio. This index is displayed because it is useful in explaining the achievements and differences of FFO.

Failure benefits according to the above definitions.