Brookfield Corporation - Ordinary Shares - Class A

Strong start to 2026; earnings up and visibility improving - Distributable Earnings (DE): $1.6B for Q1 (=$0.66/share) and $6B over last 12 months. - DE before realizations: $1.4B for the quarter (=$0.59/share), +7% YoY. - Management view: business should get stronger over the year; fundraising momentum and stable cash flows underpin expectations for the rest of 2026.

Asset Management: fundraising momentum + record-year expectation - Fee-bearing capital: $614B at quarter-end (+12% YoY). - Fee-related earnings: $772M (+11% YoY). - Fundraising: $67B so far in 2026, including $21B in the quarter. - Notable wins: $40B investment mandate from Just Group + $6B for a 7th vintage flagship PE strategy. - Outlook/expectation: positioned to deliver a record fundraising year in 2026. - Surprising/positive: a ~$120M DE gain from partial monetization of a technology investment (SpaceX investment referenced at ~$1B pre-IPO mark, part of a $2B total investment).

Real assets / operating businesses: demand strength and “quality-led” recovery - Operating businesses DE: $360M in the quarter ($0.15/share), $1.5B over last 12 months. - Real estate: >95% occupied in Super Core + Core Plus; rents on new leases materially above expiring levels. - Office leasing stats (Q1): 2.6M sq ft signed globally, with avg net rents +15% vs expiring (US: 227k sq ft, rents >2x; Canada: 761k sq ft, rents +30%). - Same-store NOI: Super Core +2% in the quarter. - Good investor takeaway: management argues financing markets and sentiment are improving, enabling embedded values to become more evident.