October 1, 2022

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Brookfield Announces Reset Dividend Rate on Its Series 28 Preference Shares

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All amounts in Canadian dollars unless otherwise stated.

BROOKFIELD, NEWS, June 01, 2022 (GLOBE NEWSWIRE) — Brookfield (NYSE: BAM, TSX: BAM.A) today announced that it has determined the fixed dividend rate on its Cumulative Class A Preference Shares, Series 28 (“Series 28 Shares”) (TSX: BAM.PR.X) for the five years commencing July 1, 2022 and ending June 30, 2027.

If declared, the fixed quarterly dividends on the Series 28 Shares during the five years commencing July 1, 2022 will be paid at an annual rate of 4.606% ($0.287875 per share per quarter).

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Holders of Series 28 Shares have the right, at their option, exercisable not later than 5:00 p.m. (Toronto time) on June 15, 2022, to convert all or part of their Series 28 Shares, on a one-for-one basis, into Cumulative Class A Preference Shares, Series 29 (the “Series 29 Shares”), effective June 30, 2022. The quarterly floating rate dividends on the Series 29 Shares will be paid at an annual rate, calculated for each quarter, of 1.80% over the annual yield on the three-month Government of Canada treasury bills. The actual quarterly dividend rate in respect of the July 1, 2022 to September 30, 2022 dividend period for the Series 29 Shares will be 0.82598% (3.277% on an annualized basis) and the dividend, if declared, for such dividend period will be $0.2065 per share, payable on September 30, 2022.

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GlobeNewswire

2022-06-01 19:24:30

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