Latest news with #BrookfieldCorporation
Straits Times
18-05-2025
- Business
- Straits Times
Dubai's red-hot real estate attracts big name backers, including Temasek-linked Mapletree
In the last 24 months, the city recorded eight office buildings sales – more than the previous 10 years combined. PHOTO: AFP Dubai's real estate market - where property values have surged 70 per cent in the last four years - is starting to entice a slew of new Wall Street investors. Brookfield Corporation is weighing plans to develop a mixed-use community in the Dubai Hills neighborhood, which would be its first residential real estate bet in the region, according to people familiar with the matter. A property manager owned by Singapore's Temasek Holdings is also currently out scouting for investments in the city, some of the people said. They would be joining the likes of Goldman Sachs Group and the Asia-based asset manager Hillhouse Investment, which have both recently plowed millions into the emirate's real estate. They have all been drawn by the surge in activity taking place across Dubai. In the last 24 months, the city recorded eight office buildings sales – more than the previous 10 years combined. The same goes for hotel transactions, where 15 deals took place in the past 30 months, according to the real estate consultancy Knight Frank. 'The past two years have been busier for us than the whole previous decade on the capital market side,' said Andrew Love, head of capital markets and commercial agency at Knight Frank. 'Demand is growing from oversees buyers who are coming in search of better returns and lower taxes.' It is a far cry from the years following the financial crisis, when the image of hundreds of luxury cars left abandoned at Dubai International Airport by expats who could not keep up with their debts was etched into the minds of institutional investors around the world. It had been a visceral reminder of the boom-and-bust nature of the real estate market in the city, where the population is still dominated by foreigners to this day. Newfound Enthusiasm Dubai's turnaround started in the aftermath of the pandemic when the city reopened earlier than others, drawing scores of wealthy tourists and investors to its sunny shores. The government's introduction of more liberal visa policies poured more fuel on that rally. After Russia's invasion of Ukraine, many of the country's wealthy moved some of their cash to the city in an effort to shield their assets from sanctions and tighter capital controls at home. They were soon joined by loads of newly-minted crypto millionaires and hedge fund managers who were lured to Dubai by the emirate's low-tax regime and a time zone that allows workers to trade across Asian, European and US hours. Taken together, the moves have sparked an unprecedented surge in residential and commercial real estate values. In the first quarter of 2025, before US President Donald Trump's trade war weighed on investor sentiment and contributed to a plunge in oil prices, Dubai notched record sales of homes valued above US$10 million (S$13 million). Brookfield began furthering its foray into Dubai's real estate market in 2020. Back then, the asset manager - along with its partner Investment Corporation of Dubai – opened ICD Brookfield Place, Dubai's largest office tower. The building quickly filled up and now commands the city's highest commercial rents; in 2024, Brookfield was able to offload a 49 per cent stake in the tower in a deal valuing the property at US$1.5 billion. Now, the Canadian firm is weighing plans to build residential towers alongside offices and retail space that it would make available to rent in Dubai Hills, an area known for its luxury villas. Then there is Mapletree Investments, a property manager owned by Singapore's sovereign wealth fund Temasek. The firm's hoping to deploy about US$2 billion in the Gulf region after opening an office in Abu Dhabi in 2024, other people familiar with the matter said. Inside Blackstone, executives have also held preliminary discussions across the Middle East region about commercial real estate investments, the people familiar with the matter said. They would be in the company of a bevy of other big name backers that have invested across the city. In April, Goldman's asset management arm plowed US$25 million into the UAE's Sunset Hospitality Group to allow the hotelier to expand its portfolio of resorts in the region. Hillhouse in May made its debut investment in the region when its unit Rava Partners acquired the real estate of Hartland International School in Dubai, in a deal valuing the property at US$100 million. In nearby Abu Dhabi, Aldar Properties – the city's biggest listed developer – raised US$500 million from Apollo Global Management in January in one of the region's largest-ever corporate hybrid private placements. The deal meant Apollo has led investments totaling US$1.9 billion in Aldar across four transactions since 2022. The latest investment underscores Apollo's 'commitment to serving as a leading capital provider to the broader Abu Dhabi ecosystem,' Mr Jamshid Ehsani, a partner at Apollo, said in a statement announcing the news. Representatives for Mapletree, Brookfield and Blackstone declined to comment. Lack of Supply One major problem remains for the overseas asset managers, insurers and pension funds looking to invest in the city's real estate: finding revenue-generating assets that they are actually able to purchase. To this day, many of the city's buildings are owned by wealthy Emirati families or government entities, who are keen to hold onto the lucrative assets. That's forcing many funds and investors to consider investing in new developments. 'The institutional money wants to be here and is starting to arrive, but the challenge is stock to sell,' Knight Frank's Love said. 'Most of the offices have been built by government and semi-government entities,' he said, adding that means there is a 'lack of Grade A buildings to acquire, which means there is lack of market depth, which an institution requires to make it worth their while to enter the market'. Getting Traction So far, that risk has not hindered Mr Martin Linder, who's Global Partners Limited has raised over US$350 million for its second fund after securing investments from American family offices, two German pension fund and a prominent Singaporean institution. For Mr Linder, it is a stark reversal from when he was raising Global Partner's first fund, when he spent six months in Boston trying to convince a myriad of investors of Dubai's potential. At the time, few were swayed by a market they knew little about, he said. Mr Linder ultimately did raise more than US$200 million that first go around and used it to construct two residential buildings on Dubai's Water Canal. After that first fund started paying out investors over time, conversations with backers got easier. 'We get cold calls from high profile family offices from the United States,' Mr Linder said. 'They've heard from other offices. Their allocations are also getting bigger.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
15-05-2025
- Business
- Yahoo
What Gives Brookfield Corporation (BN) Significant Opportunities for Growth?
Baron Funds, an investment management company, released its 'Baron Real Estate Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. In Q1 2025, stocks were sold due to economic growth slowdown, inflation, and policymaking issues, including Baron Real Estate Fund®, without considering value. The fund declined 6.69% (Institutional Shares) in the quarter compared to a 3.11% decline for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index) and a 0.76% gain for the MSCI US REIT Index (the REIT Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Brookfield Corporation (NYSE:BN). Brookfield Corporation (NYSE:BN) is an alternative asset manager and REIT/Real Estate Investment Manager firm. The one-month return of Brookfield Corporation (NYSE:BN) was 19.72%, and its shares gained 33.29% of their value over the last 52 weeks. On May 14, 2025, Brookfield Corporation (NYSE:BN) stock closed at $59.50 per share with a market capitalization of $92.046 billion. Baron Real Estate Fund stated the following regarding Brookfield Corporation (NYSE:BN) in its Q1 2025 investor letter: "Brookfield Corporation (NYSE:BN) is a leading global owner and operator of real assets such as real estate and infrastructure. We believe the company's global reach, capital, and the synergies among its businesses provide significant opportunities for growth. A portfolio manager reviewing financial documents in a modern office. Brookfield Corporation (NYSE:BN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Brookfield Corporation (NYSE:BN) at the end of the fourth quarter which was 37 in the previous quarter. In the first quarter 2025, Brookfield Corporation's (NYSE:BN) distributable earnings before realizations increased 30% to $1.3 billion. While we acknowledge the potential of Brookfield Corporation (NYSE:BN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Brookfield Corporation (NYSE:BN) and shared billionaire Bill Ackman's stock picks with huge upside potential. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Business Insider
10-05-2025
- Business
- Business Insider
Analysts' Top Financial Picks: Brookfield Corporation (BN), Cleanspark (CLSK)
There's a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on Brookfield Corporation (BN – Research Report) and Cleanspark (CLSK – Research Report) with bullish sentiments. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Brookfield Corporation (BN) RBC Capital analyst Robert Kwan maintained a Buy rating on Brookfield Corporation yesterday and set a price target of $67.00. The company's shares closed last Friday at $56.70. Kwan has an average return of 0.8% when recommending Brookfield Corporation. According to Kwan is ranked #142 out of 9504 analysts. Brookfield Corporation has an analyst consensus of Strong Buy, with a price target consensus of $67.00, implying a 16.0% upside from current levels. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $66.00 price target. In a report released yesterday, John Todaro from Needham reiterated a Buy rating on Cleanspark, with a price target of $19.50. The company's shares closed last Friday at $9.20, close to its 52-week low of $7.02. According to Todaro is a 5-star analyst with an average return of 22.6% and a 48.5% success rate. Todaro covers the Financial sector, focusing on stocks such as Applied Digital Corporation, Marathon Digital Holdings, and Coinbase Global. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cleanspark with a $18.50 average price target, which is a 121.0% upside from current levels. In a report issued on April 30, H.C. Wainwright also maintained a Buy rating on the stock with a $25.00 price target.
Associated Press
08-05-2025
- Business
- Associated Press
Brookfield Wealth Solutions Announces First Quarter Results and Declares Quarterly Distribution
BROOKFIELD, NEWS, May 08, 2025 (GLOBE NEWSWIRE) -- Brookfield Wealth Solutions (NYSE, TSX: BNT) today announced financial results for the three months ended March 31, 2025. Sachin Shah, CEO of Brookfield Wealth Solutions, stated, 'Our business is off to a strong start in 2025. We have entered the U.K. market and begun offering new products that expand our asset base while maintaining our fundamental objective of generating high-quality earnings and durable risk-adjusted returns within our business.' 1. See Non-GAAP and Performance Measures on page 6 and a reconciliation from net income on page 5. First Quarter Highlights Operating Update We recognized $437 million of distributable operating earnings ('DOE') for the three months ended March 31, 2025, compared to $279 million in the prior year period. The increase in earnings for the current period reflects contributions from AEL, which we acquired in May 2024, as well as higher net investment income resulting from progress made in repositioning assets into higher yielding investment strategies. We recorded a net loss of $282 million for the three months ended March 31, 2025, compared to net income of $337 million in the prior year period. The net loss in the current period is primarily the result of unrealized movements on reserves due to interest rate and equity market movements, which more than offset our strong operating performance. Net income in the prior year period resulted from our DOE and favorable mark-to-market on derivatives. Today, we are in a strong liquidity position, with approximately $25 billion of cash and short-term liquid investments across our investment portfolios, and another $22 billion of long-term liquid investments. These liquid assets position us well to mitigate current market volatility and support the ongoing rotation of our portfolio into higher yielding investment strategies. Regular Distribution Declaration The Board declared a quarterly return of capital of $0.09 per class A share and class B share payable on June 30, 2025 to shareholders of record as at the close of business on June 13, 2025. This distribution is identical in amount per share and has the same payment date as the quarterly distribution announced today by Brookfield Corporation on the Brookfield class A shares. Brookfield Corporation Operating Results An investment in class A shares of our company is intended to be, as nearly as practicable, functionally and economically, equivalent to an investment in the Brookfield class A shares. A summary of Brookfield Corporation's first quarter operating results is provided below: 1. Consolidated basis – includes amounts attributable to non-controlling interests. 2. Excludes amounts attributable to non-controlling interests. 3. See Reconciliation of Net Income to Distributable Earnings on page 5 and Non-IFRS and Performance Measures section on page 8 of Brookfield Corporation's press release dated May 8, 2025. Brookfield Corporation net income above is presented under IFRS. Given the economic equivalence, we expect that the market price of the class A shares of our company will be impacted significantly by the market price of the Brookfield class A shares and the business performance of Brookfield as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review Brookfield Corporation's letter to shareholders, supplemental information and its other continuous disclosure filings. Investors, analysts and other interested parties can access Brookfield Corporation's disclosure on its website under the Reports & Filings section at CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF OPERATIONS 1. Class A shares receive distributions at the same amount per share as the cash dividends paid on each Brookfield class A share. SUMMARIZED FINANCIAL RESULTS RECONCILIATION OF NET INCOME TO DISTRIBUTABLE OPERATING EARNINGS 1. Non-GAAP measure – see Non-GAAP and Performance Measures on page 6. Additional Information The statements contained herein are based primarily on information that has been extracted from our financial statements for the quarter ended March 31, 2025, which have been prepared using generally accepted accounting principles in the United States of America ('US GAAP' or 'GAAP'). Brookfield Wealth Solutions' Board of Directors have reviewed and approved this document, including the summarized unaudited consolidated financial statements prior to its release. Information on our distributions can be found on our website under Stock & Distributions/Distribution History. Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN). For more information, please visit our website at or contact: Non-GAAP and Performance Measures This news release and accompanying financial statements are based on US GAAP, unless otherwise noted. We make reference to Distributable operating earnings. We define distributable operating earnings as net income after applicable taxes excluding the impact of depreciation and amortization, deferred income taxes related to basis and other changes, and breakage and transaction costs, as well as certain investment and insurance reserve gains and losses, including gains and losses related to asset and liability matching strategies, non-operating adjustments related to changes in cash flow assumptions for future policy benefits, and change in market risk benefits, and is inclusive of returns on equity invested in certain variable interest entities and our share of adjusted earnings from our investments in certain associates. Distributable operating earnings is a measure of operating performance. We use distributable operating earnings to assess our operating results. We provide additional information on key terms and non-GAAP measures in our filings available at Notice to Readers Brookfield Wealth Solutions Ltd. ('Brookfield Wealth Solutions' or 'our' or 'we') is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement. This news release contains 'forward-looking information' within the meaning of Canadian provincial securities laws, 'forward-looking statements' within the meaning of Canadian provincial securities laws, 'forward-looking statements' within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and '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, assumptions and expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Wealth Solutions, Brookfield Corporation and their respective subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods. Particularly, statements regarding international expansion plans and future capital markets initiatives, including statements relating to the redeployment of capital into higher yielding investments constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as 'expects,' 'anticipates,' 'plans,' 'believes,' 'estimates,' 'seeks,' 'intends,' 'targets,' 'projects,' 'foresees,' 'forecasts' or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' In particular, the forward-looking statements contained in this news release include statements referring to the growth of our business, international expansion, investment opportunities and expected future deployment of capital and financial earnings. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable estimates, assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Wealth Solutions or Brookfield Corporation to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. 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) investment 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, including but not limited to, earthquakes, hurricanes, epidemics and 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; 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 its results. Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, Brookfield Wealth Solutions undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise. Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to the historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of investment opportunities or otherwise).
Associated Press
08-05-2025
- Business
- Associated Press
Brookfield Corporation Reports 27% Increase in Distributable Earnings to $1.5 Billion
$850 millionof Shares Repurchased to Date in 2025 Deployable Capital Increases to a Record$165 billion BROOKFIELD, Nnews, May 08, 2025 (GLOBE NEWSWIRE) -- Brookfield Corporation (NYSE: BN, TSX: BN) announced strong financial results for the quarter ended March 31, 2025. Nick Goodman, President of Brookfield Corporation, said, 'Our business performed well in the first quarter, with earnings 30% higher than the prior year, supported by continued momentum across our core operations. Our asset management business had strong inflows of $25 billion during the first quarter, our operating businesses continued to generate resilient cash flows, and our wealth solutions business delivered robust growth.' He added, 'In spite of increased market volatility, the outlook for our business continues to be strong and our focus remains unchanged; to deliver 15%+ returns to our shareholders over the long-term. We continue to reinvest our excess cash flows to further compound capital and with the recent volatility, we have accelerated share repurchases, buying back $850 million of shares so far this year.' Operating Results Distributable earnings ('DE') before realizations increased by 30% over the prior year quarter. See endnotes on page8. Total consolidated net income was $215 million for the quarter and $1.5 billion for the last twelve months ('LTM'). Distributable earnings before realizations were $1.3 billion ($0.82/share) for the quarter and $5.2 billion ($3.26/share) for the last twelve months. Our asset management business generated a 26% increase in fee-related earnings compared to the prior year quarter. This growth was attributed to robust fundraising momentum primarily driven by our complementary strategies and the final closes of two flagship funds. Wealth solutions delivered another strong quarter of financial performance, benefiting from strong investment performance and continued growth of our insurance asset base. Our operating businesses continue to deliver resilient and stable cash flows, underpinned by strong operating earnings across our renewable power and transition, infrastructure, and private equity businesses and 3% growth in same-store net operating income ('NOI') from our core real estate portfolio. During the quarter and for the LTM, earnings from realizations were $248 million and $1.4 billion, with total DE for the quarter and for the LTM of $1.5 billion ($0.98/share) and $6.6 billion ($4.17/share), respectively. Regular Dividend Declaration The Board declared a quarterly dividend for Brookfield Corporation of $0.09 per share, payable on June 30, 2025 to shareholders of record as at the close of business on June 13, 2025. The Board also declared the regular monthly and quarterly dividends on our preferred shares. Operating Highlights Distributable earnings before realizations were$1.3 billion($0.82/share) for the quarter and$5.2 billion($3.26/share) over the lasttwelve months, representing an increase of30%on a per share basis over the prior year quarter. Total distributable earnings were$1.5 billion($0.98/share) for the quarter and$6.6 billion($4.17/share) over the lasttwelve months. Asset Management: Wealth Solutions: Operating Businesses: Earnings from the monetization of mature assets were$248 million($0.16/share) for the quarter and$1.4 billion($0.91/share) over theLTM. We ended the quarter with a record$165 billionof capital available to deploy into new investments. CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF OPERATIONS 1. Direct costs disclosed above exclude depreciation and amortization expense. 2. Interest expense from dispositions, net of acquisitions, and upfinancings completed over the twelve months ended March 31, 2025. SUMMARIZED FINANCIAL RESULTS DISTRIBUTABLE EARNINGS 1. Non-IFRS measure – see Non-IFRS and Performance Measures section on page 8. RECONCILIATION OF NET INCOME TO DISTRIBUTABLE EARNINGS 1. DE is a non-IFRS measure proportionate to the interests of shareholders and therefore excludes items in income attributable to non-controlling interests in non-wholly owned subsidiaries. 2. Non-IFRS measure – see Non-IFRS and Performance Measures section on page 8. 3. Includes our share of Oaktree's distributable earnings attributable to realized carried interest. EARNINGS PER SHARE 1. Excludes dividends paid on perpetual subordinated notes of $3 million (2024 – $3 million) and $10 million (2024 – $10 million) for the three and twelve months ended March 31, 2025, which are recognized within net income attributable to non-controlling interests. 2. Includes management share option plan and escrowed stock plan. 3. Per share amounts are inclusive of the dilutive effect of mandatorily redeemable preferred shares held in a consolidated subsidiary. Due to its anti-dilutive effect on EPS for the three months ended March 31, 2025, the exchange of BWS Class A shares has been excluded from the diluted EPS calculation. Additional Information The Letter to Shareholders and the company's Supplemental Information for the three and twelve months ended March 31, 2025, contain further information on the company's strategy, operations and financial results. Shareholders are encouraged to read these documents, which are available on the company's website. The statements contained herein are based primarily on information that has been extracted from our financial statements for the periods ended March 31, 2025, which have been prepared using IFRS Accounting Standards, as issued by the International Accounting Standards Board ('IASB'). The amounts have not been audited by Brookfield Corporation's external auditor. Brookfield Corporation's Board of Directors has reviewed and approved this document, including the summarized unaudited consolidated financial statements prior to its release. Information on our dividends can be found on our website under Stock & Distributions/Distribution History. Quarterly Earnings Call Details Investors, analysts and other interested parties can access Brookfield Corporation's 2025 First Quarter Results as well as the Shareholders' Letter and Supplemental Information on Brookfield Corporation's website under the Reports & Filings section at To participate in the Conference Call today at 10:00 a.m. ET, please pre-register at Upon registering, you will be emailed a dial-in number, and unique PIN. The Conference Call will also be webcast live at For those unable to participate in the Conference Call, the telephone replay will be archived and available until May 8, 2026. To access this rebroadcast, please visit: 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). Please note that Brookfield Corporation's previous audited annual and unaudited quarterly reports have been filed on EDGAR and SEDAR+ and can also be found in the investor section of its website at Hard copies of the annual and quarterly reports can be obtained free of charge upon request. For more information, please visit our website at or contact: Non-IFRS and Performance Measures This news release and accompanying financial information are based on IFRS Accounting Standards, as issued by the IASB, unless otherwise noted. We make reference to Distributable Earnings ('DE'). We define DE as the sum of distributable earnings from our asset management business, distributable operating earnings from our wealth solutions business, distributions received from our ownership of investments, realized carried interest and disposition gains from principal investments, net of earnings from our Corporate Activities, preferred share dividends and equity-based compensation costs. We also make reference to DE before realizations, which refers to DE before realized carried interest and realized disposition gains from principal investments. We believe these measures provide insight into earnings received by the company that are available for distribution to common shareholders or to be reinvested into the business. Realized carried interest and realized disposition gains are further described below: We use DE to assess our operating results and the value of Brookfield Corporation's business and believe that many shareholders and analysts also find this measure of value to them. We may make reference to Operating Funds from Operations (' Operating FFO '). We define Operating FFO as the company's share of revenues less direct costs and interest expenses; excludes realized carried interest and disposition gains, fair value changes, depreciation and amortization and deferred income taxes; and includes our proportionate share of FFO from operating activities recorded by equity accounted investments on a fully diluted basis. We may make reference to Net Operating Income ('NOI'), which refers to our share of the revenues from our operations less direct expenses before the impact of depreciation and amortization within our real estate business. We present this measure as we believe it is a key indicator of our ability to impact the operating performance of our properties. As NOI excludes non-recurring items and depreciation and amortization of real estate assets, it provides a performance measure that, when compared to prior periods, reflects the impact of operations from trends in occupancy rates and rental rates. We disclose a number of financial measures in this news release that are calculated and presented using methodologies other than in accordance with IFRS. These financial measures, which include DE, should not be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, similar financial measures calculated in accordance with IFRS. We caution readers that these non-IFRS financial measures or other financial metrics are not standardized under IFRS and may differ from the financial measures or other financial metrics disclosed by other businesses and, as a result, may not be comparable to similar measures presented by other issuers and entities. We provide additional information on key terms and non-IFRS measures in our filings available at 1. Consolidated basis – includes amounts attributable to non-controlling interests. 2. Excludes amounts attributable to non-controlling interests. 3. See Reconciliation of Net Income to Distributable Earnings on page 5 and Non-IFRS and Performance Measures section on page 8. Brookfield Corporation is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement. 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 regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Corporation and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, 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 Corporation 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 the impact of current market or economic conditions on our business, the future state of the economy or the securities market, the anticipated allocation and deployment of our capital, our fundraising targets, and our target growth objectives. 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. Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of appropriate opportunities or otherwise). Target returns and growth objectives set forth in this news release are for illustrative and informational purposes only and have been presented based on various assumptions made by Brookfield Corporation in relation to the investment strategies being pursued, any of which may prove to be incorrect. There can be no assurance that targeted returns or growth objectives will be achieved. Due to various risks, uncertainties and changes (including changes in economic, operational, political or other circumstances) beyond Brookfield Corporation's control, the actual performance of the business could differ materially from the target returns and growth objectives set forth herein. In addition, industry experts may disagree with the assumptions used in presenting the target returns and growth objectives. No assurance, representation or warranty is made by any person that the target returns or growth objectives will be achieved, and undue reliance should not be put on them.
