Brookfield Asset Management Announces Renewal of Normal Course Issuer Bid for Preferred Shares

BROOKFIELD, NEWS -- (Marketwired) -- 08/15/16 -- Brookfield Asset Management Inc. (NYSE: BAM)(TSX: BAM.A)(EURONEXT: BAMA) ("Brookfield") today announced it has received approval from the Toronto Stock Exchange ("TSX") for its proposed normal course issuer bid to purchase up to 10% of the public float of each series of the company's outstanding Class A Preference Shares that are listed on the TSX (the "Preferred Shares"). Purchases under the bid will be made through the facilities of the TSX. The period of the normal course issuer bid will extend from August 17, 2016 to August 16, 2017, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any Preferred Shares purchased. All Preferred Shares acquired by Brookfield under this bid will be cancelled.

Brookfield is renewing its normal course issuer bid because it believes that, from time to time, the Preferred Shares may trade in price ranges that do not fully reflect their value. Brookfield believes that, in such circumstances, acquiring the Preferred Shares represents a desirable use of its available funds.

Under its new normal course issuer bid, Brookfield is authorized to repurchase each respective series of the Preferred Shares as follows:

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                                                Average
                       Issued and                 Daily   Maximum Number of
                      Outstanding    Public     Trading   Shares Subject to
Series         Ticker   Shares(1)   Float(1)  Volume(2)      Purchase(3)
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                                                               Total   Daily
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Series 2     BAM.PR.B  10,465,100 10,227,590      8,974    1,022,759   2,243
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Series 4     BAM.PR.C   4,000,000  3,988,000      6,885      398,800   1,721
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Series 8     BAM.PR.E   1,652,394  1,651,394        873      165,139   1,000
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Series 9     BAM.PR.G   6,346,606  2,853,506      1,699      285,350   1,000
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Series 13    BAM.PR.K   9,647,700  8,800,200      9,160      880,020   2,290
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Series 17    BAM.PR.M   8,000,000  8,000,000      7,925      800,000   1,981
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Series 18    BAM.PR.N   8,000,000  7,814,339      5,646      781,433   1,411
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Series 24    BAM.PR.R   9,394,250  9,394,250     13,427      939,425   3,356
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Series 25    BAM.PR.S   1,533,133  1,533,133        311      153,313   1,000
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Series 26    BAM.PR.T   9,903,348  9,903,348      9,897      990,334   2,474
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Series 28    BAM.PR.X   9,394,373  9,394,373     11,745      939,437   2,936
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Series 30    BAM.PR.Z   9,950,452  9,950,452     10,494      995,045   2,623
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Series 32    BAM.PF.A  11,982,568 11,982,568      8,189    1,198,256   2,047
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Series 34    BAM.PF.B   9,977,889  9,977,889      7,354      997,788   1,838
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Series 36    BAM.PF.C   8,000,000  8,000,000      8,497      800,000   2,124
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Series 37    BAM.PF.D   8,000,000  8,000,000      8,716      800,000   2,179
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Series 38    BAM.PF.E   8,000,000  8,000,000      7,724      800,000   1,931
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Series 40    BAM.PF.F  12,000,000 12,000,000      5,637    1,200,000   1,409
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Series 42    BAM.PF.G  12,000,000 12,000,000     10,457    1,200,000   2,614
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Series 44    BAM.PF.H  10,000,000 10,000,000     16,124    1,000,000   4,031
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1.  Calculated as at July 31, 2016.
2.  Calculated for the six months prior to July 31, 2016.
3.  In accordance with TSX rules, any daily repurchases with respect to: (i)
    the Series 8, Series 9 and Series 25 Preferred Shares would be limited
    to 1,000 shares of the respective series and (ii) each of the other
    series of Preferred Shares (excluding the Series 8, Series 9 and Series
    25 Preferred Shares) would be limited to 25% of the average daily
    trading volume on the TSX of the respective series.

Under its current normal course issuer bid that commenced on August 12, 2015 and expired on August 11, 2016, Brookfield purchased 1,000 Series 9 Preferred Shares, 72,617 Series 24 Preferred Shares, 96,652 Series 26 Preferred Shares, 5,627 Series 28 Preferred Shares, 49,548 Series 30 Preferred Shares, 17,432 Series 32 Preferred Shares and 22,111 Series 34 Preferred Shares at weighted average prices of C$15.19, C$15.22, C$15.27, C$14.19, C$18.86, C$18.63 and C$17.77 per Preferred Share, respectively. No other Preferred Shares were purchased by Brookfield under the normal course issuer bid.

Brookfield will enter into an automatic purchase plan on or about the week of September 26, 2016 in relation to the normal course issuer bid. The automatic purchase plan will allow for the purchase of Preferred Shares, subject to certain trading parameters, at times when Brookfield ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise. Outside of these periods, Preferred Shares will be repurchased in accordance with management's discretion and in compliance with applicable law.

Brookfield Asset Management Inc. is a global alternative asset manager with approximately $250 billion in assets under management. The company has more than a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively. For more information, please visit our website at www.brookfield.com.

Please note that Brookfield'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 www.brookfield.com. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.

Forward-Looking Statements

Note: This press release contains forward-looking information within the meaning of Canadian provincial securities laws and other "forward looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. The words "proposed", "believe", conditional verbs such as "will", "may" and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward-looking information in this news release includes statements with regards to potential future purchases by Brookfield of its Preferred Shares pursuant to the company's normal course issuer bid and automatic purchase plan. Although Brookfield believes that the anticipated future results or achievements expressed or implied by the forward-looking statements and information is based upon reasonable 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 which may cause the actual results, performance or achievements of the company 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: general economic conditions; interest rate changes; availability of equity and debt financing; the performance of the Preferred Shares or the stock exchanges generally; and other risks and factors described from time to time in the documents filed by the company with the securities regulators in Canada and the United States including in Management's Discussion and Analysis under the heading "Operating Capabilities, Environment and Risks". The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

Contacts:
Suzanne Fleming
Communications & Media
(212) 417-2421
[email protected]

Linda Northwood
Investor Relations
(416) 359-8647
[email protected]
www.brookfield.com

Source: Brookfield Asset Management Inc.