Brookfield Finance Inc - 4.625% NT REDEEM 16/10/2080 USD 25

Strong start to 2026; earnings momentum and “getting stronger over the year” - Brookfield reported Q1 2026 distributable earnings (Total DE) of $1.6B ($0.66/share), vs $6.0B over the last 12 months ($2.54/share). - DE before realizations was $1.4B ($0.59/share), +7% YoY. - Management emphasized discipline through market volatility and expects the fundamental earnings momentum to continue through 2026.

Asset Management fundraising & fee engine: “record year” expectation - Asset Management delivered $765M distributable earnings ($0.32/share) in Q1; $2.8B over last 12 months. - Fundraising: $67B YTD, including $21B in Q1; notably $40B mandate from Just Group and $6B for a 7th-vintage flagship private equity strategy. - Fee-bearing capital ended at $614B (+12% YoY) driving fee-related earnings of $772M (+11%). - Forecast/outlook: “Well positioned to deliver a record fundraising year in 2026.”

Wealth Solutions scaled + Just Group acquisition (U.K. retirement platform) strengthens growth runway - Wealth Solutions delivered $430M DE ($0.18/share) in Q1; $1.7B over last 12 months (+11% YoY). - Growth drivers: $4B annuity inflows in Q1 and portfolio rotation to higher-yield strategies. - Just Group acquisition (closed April 1): increased total insurance assets by ~$40B; management highlighted positioning to reach ~$200B insurance assets. - Key opportunity/outlook: management expects Just to write ~£5B of pension flows annually (today) and plans to scale; broader Wealth Solutions expects to write ~$25B of new policies in 2026 (retail + institutional annuities/pensions). - Strategy: disciplined growth—prioritizing high-quality durable earnings over maximizing volume.