Brookfield Corporation Receives Exemptive Relief from the Ontario Securities Commission

Rhea-AI Summary

Brookfield (NYSE: BN, TSX: BN) has received exemptive relief from the Ontario Securities Commission regarding the requirement for formal valuation and minority shareholder approval. This relief pertains to the previously announced arrangement to enhance the corporate structure of Brookfield Asset Management (NYSE: BAM, TSX: BAM). The company filed a material change report on November 1, 2024, which includes details of the arrangement and results of the formal valuation prepared by KPMG LLP. These documents are available on SEDAR+ and EDGAR, with free copies available to shareholders upon request.

Positive

• Received regulatory exemption from Ontario Securities Commission, streamlining the corporate restructuring process

Negative

• None.

News Market Reaction – BN

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+2.04% News Effect

On the day this news was published, BN gained 2.04%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BROOKFIELD, NEWS, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Brookfield Corporation (NYSE: BN, TSX: BN) today announced that it has received exemptive relief from the Ontario Securities Commission from the requirement to obtain a formal valuation and minority shareholder approval in relation to the arrangement to enhance the corporate structure of Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM), which was jointly announced by BN and BAM on October 31, 2024 (the “Arrangement”).

BN filed a material change report on November 1, 2024 (the “Material Change Report”) summarizing the terms of the Arrangement and results of the formal valuation prepared by KPMG LLP, the independent valuer appointed by the Governance, Nominating and Compensation Committee of BAM (the “Valuation”). The Material Change Report and the Valuation are available on SEDAR+ under BN’s profile at www.sedarplus.ca and on EDGAR at www.sec.gov. Copies of the Material Change Report and/or the Valuation will be provided free of charge to shareholders upon request.

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

FAQ

What exemptive relief did Brookfield (BN) receive from the Ontario Securities Commission?

Brookfield received relief from requirements for formal valuation and minority shareholder approval regarding the arrangement to enhance BAM's corporate structure.

When did Brookfield (BN) file its material change report regarding the arrangement?

Brookfield filed the material change report on November 1, 2024, following the announcement of the arrangement on October 31, 2024.

Where can shareholders access Brookfield 's (BN) material change report and valuation documents?

Shareholders can access these documents on SEDAR+ and EDGAR websites, or request free copies directly from the company.