Brookfield (BN) investor relations material

Strategic evolution and growth drivers

• Maintains value investing principles, leveraging operating capabilities and recent strategic moves such as spinning out listed entities, launching the wealth business, and spinning off BAM.

• Positioned for transformational growth, driven by AI infrastructure, demographic shifts, and a global real estate recovery, with groundwork for large-scale data centers and $200B in identified AI investments.

• Access to capital is expanding from institutional to private wealth and public markets, with innovation and rapid deployment in scalable sectors.

• Insurance business is being built as an investment-led, integrated platform, focusing on maximizing capital efficiency and returns, targeting 15%+ ROE.

• Individual allocations to alternatives and retirement savings gaps are fueling a new, powerful capital pool.

Financial performance and guidance

• Achieved 22% annualized earnings growth and 16% planned value growth over the past five years, surpassing previous targets.

• Targeting 25% annualized distributable earnings per share growth and 16% planned value growth annually over the next five years, with plan value per share expected to increase from $102 to $210 by 2030.

• Raised over CAD 95 billion in capital, deployed CAD 135 billion, and monetized CAD 75 billion in assets in the last year.

• Asset management business targets 20% annual earnings growth, with $7.7B distributable earnings projected by 2030 and carried interest scaling to CAD 7 billion annually.

• Conservative balance sheet with $180B perpetual capital and strong liquidity supports growth ambitions.

Real estate and wealth solutions outlook

• Real estate business is positioned to benefit from strong operating fundamentals, declining interest rates, and increased transaction activity, targeting CAD 24 billion in capital generation through asset sales.

• Portfolio segmented into super core, core plus, and value-add assets, with super core accounting for 60% of invested capital and maintaining high occupancy and premium locations.

• Wealth solutions aims to scale to $350B insurance assets and more than double earnings by 2030, maintaining 15%+ ROE.

• Business is expanding internationally, with platforms in the U.S., U.K., Canada, and early-stage operations in Japan, aiming for CAD 300 billion+ in assets by decade's end.

• Office and retail assets are experiencing strong demand, rising rents, and limited new supply, supporting NOI growth.