BN Brookfield Corporation

Brookfield Corporation (TSX: BN, NYSE: BN) (“Brookfield” or “the company”) today announced it has received approval from the Toronto Stock Exchange (“TSX”) for the renewal of its normal course issuer bid to purchase up to 10% of the public float of each series of the company’s outstanding Class A Preference Shares that are listed on the TSX (the “Preferred Shares”). Purchases under the bid will be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems. The period of the normal course issuer bid will extend from August 22, 2024 to August 21, 2025, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any Preferred Shares purchased or such other price as may be permitted. All Preferred Shares acquired by Brookfield under this bid will be cancelled.

Under the normal course issuer bid, Brookfield is authorized to repurchase each respective series of the Preferred Shares as follows:    

Series	Ticker	Issued and outstanding shares1	Public float	Average daily trading volume2	Maximum number of shares subject to purchase3
					Total Daily
Series 2	BN.PR.B	10,220,175	10,220,175	7,908	1,022,018	1,977
Series 4	BN.PR.C	3,983,910	3,983,910	1,686	398,391	1,000
Series 13	BN.PR.K	8,792,596	8,792,596	3,183	879,260	1,000
Series 17	BN.PR.M	7,840,204	7,840,204	5,493	784,020	1,373
Series 18	BN.PR.N	7,681,088	7,681,088	8,198	768,109	2,049
Series 24	BN.PR.R	10,808,027	10,808,027	7,673	1,080,803	1,918
Series 26	BN.PR.T	9,770,928	9,770,928	5,577	977,093	1,394
Series 28	BN.PR.X	9,233,927	9,233,927	3,700	923,393	1,000
Series 30	BN.PR.Z	9,787,090	9,787,090	4,495	978,709	1,123
Series 32	BN.PF.A	11,750,299	11,750,299	6,685	1,175,030	1,671
Series 34	BN.PF.B	9,876,735	9,876,735	9,142	987,674	2,285
Series 36	BN.PF.C	7,842,909	7,842,909	5,252	784,291	1,313
Series 37	BN.PF.D	7,830,091	7,830,091	3,449	783,009	1,000
Series 38	BN.PF.E	7,906,132	7,906,132	7,522	790,613	1,880
Series 40	BN.PF.F	11,841,025	11,841,025	11,338	1,184,103	2,834
Series 42	BN.PF.G	11,887,500	11,887,500	9,355	1,188,750	2,338
Series 44	BN.PF.H	9,831,929	9,831,929	4,374	983,193	1,093
Series 46	BN.PF.I	11,740,797	11,740,797	6,201	1,174,080	1,550
Series 48	BN.PF.J	11,885,972	11,885,972	8,776	1,188,597	2,194
Series 51	BN.PF.K	3,320,486	3,320,486	2,699	332,049	1,000
Series 52	BN.PF.L	1,177,580	1,177,580	712	117,758	1,000

__________________1 As at August 9, 2024.2 Calculated for the six-month period ended July 31, 2024.3 In accordance with TSX rules, any daily repurchases on the TSX with respect to (i) the Series 4, Series 13, Series 28, Series 37, Series 51 and Series 52 Preferred Shares will be limited to 1,000 of the respective series and (ii) each of the other series of Preferred Shares (excluding the Series 4, Series 13, Series 28, Series 37, Series 51 and Series 52 Preferred Shares) will be limited to 25% of the average daily trading volume on the TSX of the respective Preferred Shares.

As of August 19, 2024, under its current normal course issuer bid that commenced on August 22, 2023 and will expire on August 21, 2024, and which was approved by the TSX, Brookfield has not made any purchases of the Preferred Shares.

Brookfield believes that the renewed normal course issuer bid will provide the flexibility to use available funds to purchase Preferred Shares should they be trading in price ranges that do not fully reflect their value.

Brookfield intends to enter into an automatic share purchase plan on or about the week of September 23, 2024 in relation to the normal course issuer bid. The automatic share purchase plan will allow for the purchase of Preferred Shares, subject to certain trading parameters, at times when Brookfield ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise. Outside of these periods, the Preferred Shares will be repurchased in accordance with management’s discretion and in compliance with applicable law.

About Brookfield Corporation

Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

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

Media		Investor Relations
Kerrie McHugh		Linda Northwood
Tel: (212) 618-3469		Tel: (416) 359-8647
Email: kerrie.mchugh@brookfield.com		Email: linda.northwood@brookfield.com

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to potential future purchases by Brookfield of its Preferred Shares pursuant to the company’s normal course issuer bid and automatic share purchase plan.

Although Brookfield believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business, including as a result of COVID-19 and related global economic disruptions; (ii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates; (iii) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; and (iv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.

We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect future results. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.