Brookfield Corporation - Ordinary Shares - Class A

Strong operating/earnings momentum (core takeaway: “business is compounding”) - Distributable earnings (DE) before realizations: $1.4B in Q2, +15% YoY; $5.7B over last 12 months. - Per-share: $0.61 DE before realizations in the quarter (+15% YoY per share). - Total DE including realizations: $1.5B ( $0.66/share ) in Q2; $6.2B over last 12 months. - Earnings breadth: Asset Management $740M ( +20% fee-related earnings YoY implied via fee-bearing growth), Wealth Solutions $480M (+23% YoY), Operating businesses $361M.

Record fundraising + capital deployment/recycling (growth engine remains active) - Fundraising: record $77B in the quarter; $98B raised in first half. - Deployments: $100B deployed in first half; $210B “record deployable capital” highlighted for flexibility. - Monetizations: $40B asset sales year-to-date (crystallizing returns) and $130B of additional assets financed in first half. - Example recycling: AI/data center colocation IPO (Evoque) ~$1.2B proceeds; continued sell-downs/recycling across portfolios.

AI infrastructure + energy transition seen as a multi-year “scale + disciplined risk” opportunity - Management argues the current cycle is early and opportunities are larger, more multifaceted, and more capital intensive (AI infrastructure, grid/power, digitalization, decarbonization, deglobalization). - Approach: “highest quality counterparties,” contractual cash flows, and risk-managed structures; diversification across real estate, energy, infrastructure, credit. - Kentucky AI campus / AI factories: referenced $100B scale-up plan; cited US DOE selection process to accelerate execution. - Nuclear (Westinghouse): US DOE cited $17.5B additional financing commitment to support long-lead items; Westinghouse has 14 reactors under construction, line of sight on 40, another 100 coming (management frames as part of a ~$6T industry). - Surprising/important detail from Q&A: They are moving beyond only building assets—increasingly financing equipment (chips) via partnerships (NVIDIA MOU discussed) to capture returns with downside controls.