Brookfield Asset Management Inc.

All amounts in Canadian dollars, unless otherwise indicated.

BROOKFIELD, NEWS, March 02, 2022 (GLOBE NEWSWIRE) — Brookfield (NYSE: BAM, TSX: BAM.A) today announced that it has determined the fixed dividend rate on its Class A Cumulative Preferred Shares, Series 26 (” series 26 shares”) (TSX: BAM.PR.T) for the five years beginning April 1, 2022 and ending March 31, 2027, and also determined the fixed dividend on its Class A Cumulative Preferred Shares, Series 46 ( the “Series 46 Shares”) (TSX: BAM.PF.I) for the five years beginning April 1, 2022 and ending March 31, 2027.

Series 26 Shares and Series 27 Shares

If declared, fixed quarterly dividends on the Series 26 Shares during the five years beginning April 1, 2022 will be paid at an annual rate of 3.846% ($0.240375 per share per quarter).

Holders of Series 26 Shares have the right, at their option, exercisable no later than 5:00 p.m. (Toronto time) on March 16, 2022, to convert all or any part of their Series 26 Shares, at a rate of one-for-one , Cumulative Class A Preferred Shares, Series 27 (the “Series 27 Shares”), effective March 31, 2022. Floating rate quarterly dividends on the Series 27 Shares will be paid at a annual rate, calculated for each quarter, of 2.31% above the annual yield of Government of Canada three-month Treasury bills. The effective quarterly dividend rate in respect of the dividend period from April 1, 2022 to June 30, 2022 for the Series 27 Shares will be 0.72925% (2.925% on an annualized basis) and the dividend, if is declared, for this dividend period will be $0.1823125 per share, payable on June 30, 2022.

Holders of Series 26 Shares are not required to elect to convert all or any part of their Series 26 Shares into Series 27 Shares.

As provided in the Series 26 Share Terms, (i) if Brookfield determines that there would be fewer than 1,000,000 Series 26 Shares outstanding after March 31, 2022, all remaining Series 26 Shares will be automatically converted into Series 27 shares on a one-for-one basis effective March 31, 2022; and (ii) if Brookfield determines that there would be less than 1,000,000 Series 27 Shares outstanding after March 31, 2022, no Series 26 Shares may be converted into Series 27 Shares. There are currently 9,770,928 Series 26 Shares outstanding.

The Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the Series 27 Shares effective upon conversion. Listing of the Series 27 Shares is subject to Brookfield fulfilling all of the listing requirements of the TSX.

Series 46 Shares and Series 47 Shares

If declared, fixed quarterly dividends on the Series 46 Shares during the five years beginning April 1, 2022 will be paid at an annual rate of 5.386% ($0.336625 per share per quarter).

Holders of Series 46 Shares have the right, at their option, exercisable no later than 5:00 p.m. (Toronto time) on March 16, 2022, to convert all or any part of their Series 46 Shares, at a rate of one-for-one , Cumulative Class A Preferred Shares, Series 47 (the “Series 47 Shares”), effective March 31, 2022. Floating rate quarterly dividends on the Series 47 Shares will be paid at a annual rate, calculated for each quarter, of 3.85% above the annual yield of Government of Canada three-month Treasury bills. The effective quarterly dividend rate in respect of the dividend period from April 1, 2022 to June 30, 2022 for the Series 47 Shares will be 1.11319% (4.465% on an annualized basis) and the dividend, if is declared, for this period the dividend will be $0.2782975 per share, payable on June 30, 2022.

Holders of Series 46 Shares are not required to elect to convert all or any part of their Series 46 Shares into Series 47 Shares.

As provided in the Series 46 Share Terms, (i) if Brookfield determines that there would be fewer than 1,000,000 Series 46 Shares outstanding after March 31, 2022, all remaining Series 46 Shares will be automatically converted into Series 47 shares on a one-for-one basis beginning March 31, 2022; and (ii) if Brookfield determines that there would be less than 1,000,000 Series 47 Shares outstanding after March 31, 2022, no Series 46 Shares may be converted into Series 47 Shares. There are currently 11,740,797 Series 46 Shares outstanding.

The Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the Series 47 Shares effective upon conversion. Listing of the Series 47 Shares is subject to Brookfield fulfilling all of the listing requirements of the TSX.

About Brookfield

Brookfield (NYSE: BAM, TSX: BAM.A) is a leading global alternative asset manager with approximately US$690 billion in assets under management in real estate, infrastructure, renewable energy and transition , private equity and credit. Brookfield owns and operates long-lived assets and businesses, many of which form the backbone of the global economy. Using its global reach, access to large-scale capital and operational expertise, Brookfield 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 investors.

For more information, please visit our website at www.brookfield.com or contact:

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Investor Relations

Kerrie McHugh

Linda Northwood

Tel: +1 212 618 3469

Tel: +1 416 359-8647

Email: [email protected]

Email: [email protected]

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