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Basis of Presentation This news release and accompanying financial statements are based on International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”), unless otherwise noted. We make reference to Funds from Operations (“FFO”). We define FFO as net income attributable to shareholders prior to fair value changes, depreciation and amortization, and deferred income taxes, and includes realized disposition gains that are not recorded in net income as determined under IFRS. FFO also includes the company’s share of equity accounted investments’ FFO on a fully diluted basis. FFO consists of the following components: FFO from Operating Activities represents 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

New yorkUnited statesLinda northwoodClaire hollandNick goodmanWest fraserInternational financial reporting standardsBrookfield renewable corporationGlobal transition fundInvestments fundBrookfield asset managementBrookfield asset management incCommunications mediaUs securities exchangeInternational accounting standards boardInvestment gains