Brookfield Corporation Announces Renewal of Normal Course Issuer Bid for Preferred Shares

Rhea-AI Summary

Brookfield Corporation (NYSE: BN) has received TSX approval to renew its normal course issuer bid for preferred shares. The program will run from August 22, 2025 to August 21, 2026, allowing Brookfield to repurchase up to 10% of the public float of each series of its outstanding Class A Preference Shares listed on the TSX.

The company will purchase shares at market price through the TSX and alternative Canadian trading systems. All acquired shares will be cancelled. The program covers 21 different series of preferred shares, with individual purchase limits set for each series. Notably, Brookfield plans to implement an automatic share purchase plan around September 22, 2025, enabling purchases during blackout periods.

Under the current bid ending August 21, 2025, Brookfield has not made any preferred share purchases.

Positive

• Flexibility to repurchase shares when trading below intrinsic value
• Automatic share purchase plan enables consistent buying during blackout periods
• Program covers comprehensive range of 21 preferred share series
• No dilution risk as all purchased shares will be cancelled

Negative

• No purchases made under current buyback program indicates possible limited execution
• Market price purchase requirement may limit opportunistic buying
• Daily purchase limits may restrict program effectiveness

BROOKFIELD, NEWS, Aug. 20, 2025 (GLOBE NEWSWIRE) -- 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, 2025 to August 21, 2026, 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	6,871	1,022,017	1,717
Series 4	BN.PR.C	3,983,910	3,983,910	1,869	398,391	1,000
Series 13	BN.PR.K	8,792,596	8,792,596	5,361	879,259	1,340
Series 17	BN.PR.M	7,840,204	7,840,204	2,724	784,020	1,000
Series 18	BN.PR.N	7,681,088	7,681,088	3,698	768,108	1,000
Series 24	BN.PR.R	10,808,027	10,808,027	11,864	1,080,802	2,966
Series 26	BN.PR.T	9,770,928	9,770,928	10,123	977,092	2,530
Series 28	BN.PR.X	9,233,927	9,233,927	13,559	923,392	3,389
Series 30	BN.PR.Z	9,787,090	9,787,090	5,960	978,709	1,490
Series 32	BN.PF.A	11,750,299	11,750,299	9,481	1,175,029	2,370
Series 34	BN.PF.B	9,876,735	9,876,735	10,987	987,673	2,746
Series 36	BN.PF.C	7,842,909	7,842,909	2,976	784,290	1,000
Series 37	BN.PF.D	7,830,091	7,830,091	3,402	783,009	1,000
Series 38	BN.PF.E	7,906,132	7,906,132	6,217	790,613	1,554
Series 40	BN.PF.F	11,841,025	11,841,025	8,057	1,184,102	2,014
Series 42	BN.PF.G	11,887,500	11,887,500	23,404	1,188,750	5,851
Series 44	BN.PF.H	9,831,929	9,831,929	5,624	983,192	1,406
Series 46	BN.PF.I	11,740,797	11,740,797	6,506	1,174,079	1,626
Series 48	BN.PF.J	11,885,972	11,885,972	5,623	1,188,597	1,405
Series 51	BN.PF.K	3,320,486	3,320,486	2,462	332,048	1,000
Series 52	BN.PF.L	1,177,580	1,177,580	1,718	117,758	1,000

As of August 19, 2025, under its current normal course issuer bid that commenced on August 22, 2024 and will expire on August 21, 2025, 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 22, 2025 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 Kerrie McHugh Tel: (212) 618-3469 Email: kerrie.mchugh@brookfield.com	Investor Relations Katie Battaglia Tel: (416) 359-8544 Email: katie.battaglia@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 in turn are 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 Corporation 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) returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates and heightened inflationary pressures; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including acquisitions and dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations and sanctions; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to our business segments including asset management, wealth solutions, renewable power and transition, infrastructure, private equity, real estate and corporate activities; and (xxv) 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 or such other date specified herein. Except as required by law, Brookfield Corporation 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.

^{_____________________________}

¹ As at August 15, 2025
² Calculated for the six-month period ended July 31, 2025.
³ In accordance with TSX rules, any daily repurchases on the TSX with respect to (i) the Series 4, Series 17, Series 18, Series 36,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 17, Series 18, Series 36, 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.

FAQ

What is the duration of Brookfield's (BN) new preferred shares buyback program?

The program runs from August 22, 2025 to August 21, 2026, unless Brookfield completes its purchases earlier.

How many preferred shares can Brookfield (BN) repurchase under the new program?

Brookfield can repurchase up to 10% of the public float of each series of its Class A Preference Shares listed on the TSX.

How many preferred share series are included in Brookfield's (BN) buyback program?

The program includes 21 different series of Class A Preference Shares, each with specific purchase limits based on their public float.

When will Brookfield (BN) implement its automatic share purchase plan?

Brookfield plans to implement the automatic share purchase plan around the week of September 22, 2025.

Has Brookfield (BN) made any purchases under its current preferred shares buyback program?

No, Brookfield has not made any purchases of Preferred Shares under its current program that expires on August 21, 2025.