Brookfield Asset Management Inc · NYSE:BAM
Brookfield Asset Management — Investor Presentation (November 2025)
42 slides from Brookfield Asset Management's investor presentation, November 2025
Slide 1: Brookfield Asset Management Investor Presentation
Brookfield Asset Management Investor Presentation November 2025
Slide 2: Brookfield Asset Management is a leading pure-play global asset manager
Brookfield Asset Management is a leading pure-play global asset manager Long term, structural tailwinds and strong business fundamentals will propel our business, enabling our success today and tomorrow Strong fundraising capabilities across flagships and complementary strategies, with continual pro
Slide 3: Company Overview
Brookfield Asset Management is a leading pure-play global asset manager Company Overview
Slide 4: Brookfield Asset Management Today
Brookfield Asset Management Today 125-year owner-operator and leader across real asset investing Focused on the backbone of the global economy $ T+ 1 $ 581B $ 90B Assets Under Management Fee-Bearing Capital Market Capitalization Investing across five key verticals Infrastructure Renewable Private Eq
Slide 5: Global presence with a local mindset
Global presence with a local mindset We operate in over 50 countries, with 250K+ operating employees Europe & Middle East $230B+ AUM 300 Investment Professionals Americas $770B+ AUM Asia Pacific 850 Investment $140B+ AUM Professionals 200 Investment Professionals BROOKFIELD.COM 5
Slide 6: Secular megatrends will require $100+ trillion of capital
Secular megatrends will require $100+ trillion of capital Our businesses are positioned to benefit from the forces shaping the global economy Digitalization Deglobalization Decarbonization These forces are accelerating, growing the opportunity for large-scale private capital BROOKFIELD.COM 6 Source:
Slide 7: Our business model is simple and effective
Our business model is simple and effective Our structure provides access to all major pools of capital and provides a range of investors with a tailored approach to meet their objectives Investing in attractive, durable asset classes Fundraising channels Infrastructure • Institutional Brookfield Cap
Slide 8: Our leadership position enables accelerated growth
Our leadership position enables accelerated growth Leadership is earned… …and it matters Excellent risk-adjusted returns Fundraise on a greater scale Attract a more diverse capital base Consistency across cycles Source proprietary deal flow Scale Foresee trends and act quickly The right asset classe
Slide 9: Positioned to Win Today and Tomorrow
Brookfield Asset Management is a leading pure-play global asset manager Positioned to Win Today and Tomorrow
Slide 10: The past 20 years have seen major tailwinds for alternatives
The past 20 years have seen major tailwinds for alternatives… and there is much more to come Key growth drivers 2002 Today 2032E • Global AUM growth 60T+ • Institutional investors increasing $ allocations to alternatives 25T $ Alternatives • Investors consolidating their 2T AUM Alternatives exposure
Slide 11: Our platform is positioned to deliver in all economic environments
Our platform is positioned to deliver in all economic environments and win across the market cycle Products Partnerships Performance Individuals Built to continuously add new growth levers to our business BROOKFIELD.COM 11
Slide 12: Leadership in key areas provides a platform for product innovation
Products Leadership in key areas provides a platform for product innovation We have positioned ourselves as a leader within our sectors of focus across the Brookfield Ecosystem Infrastructure Renewable Power Private Equity Real Estate Credit & Transition Largest global Largest dedicated Top performi
Slide 13: The next big thing
Products The next big thing We can deliver the full capabilities of Brookfield to meet the unprecedented investment needed globally for AI infrastructure AI Factories Infrastructure Power & Transmission Real Estate $ 7T+ 10-Year Expected Credit Capex Spend Compute Infrastructure Strategic Adjacencie
Slide 14: Delivering speed, certainty and the ability to execute at scale
Partnerships Delivering speed, certainty and the ability to execute at scale We are a partner of choice to the largest, most sophisticated institutions in pursuit of their strategic initiatives, including: Governments Corporates Few others can bring together the capital, capabilities and track recor
Slide 15: The best partnerships unlock the best opportunities
Partnerships The best partnerships unlock the best opportunities These partners are not only Why partnerships matter: counterparties, but also increasingly: Large-scale, proprietary deal flow Investors Enhances value of Off-takers operating businesses Tenants Superior risk-adjusted returns JV partne
Slide 16: Strong performance at scale is our competitive advantage
Performance Strong performance at scale is our competitive advantage We invest in essential, durable assets that form the backbone of the global economy High-quality real assets deliver stability, resilience and value across cycles BROOKFIELD.COM 16
Slide 17: Our strategies have delivered strong, consistent performance
Performance Our strategies have delivered strong, consistent performance Gross Return Net Return Fund History Target Actual Target Actual Infrastructure 15 years 13% 15% 11% 12% Renewable Power & Transition 4 years 14% 19% 11% 14% Private Equity 24 years 22% 26% 18% 20% Real Estate 19 years 20% 19%
Slide 18: Individual investors represent a new engine of growth
Individuals Individual investors represent a new engine of growth Global Market Size Alts allocation <3% Alts allocation $22T ~$40T ~25% Institutional Pools Individual Pools Pension Plans Private Wealth Sovereign Wealth Annuities 401(k)s BROOKFIELD.COM 18 Sources: Preqin, Institutional Allocation St
Slide 19: We see further client growth from institutional investors
Individuals We see further client growth from institutional investors Capital is consolidating Room to expand with leaders who have: institutional clients across: Global scale Middle-market pensions Diverse product offerings Corporate pensions Access to high-growth asset classes Family capital Estab
Slide 20: Business Group Overview
Business Group Overview 20
Slide 21: Infrastructure Overview
Infrastructure Overview Brookfield is one of the world’s largest infrastructure investors, owners and operators $ 242B $ 101B 127 Assets Under Management Fee-Bearing Capital Investment Professionals Key Sectors Products Utilities Data Flagship Fund Complementary Strategies $72B $77B Infrastructure C
Slide 22: Renewable Power & Transition Overview
Renewable Power & Transition Overview Brookfield is one of the most impactful renewable power & transition investors, owners and operators $ 137B $ 69B 93 Assets Under Management Fee-Bearing Capital Investment Professionals Key Sectors Products Flagship Fund Complementary Strategies Hydro Solar 8,30
Slide 23: Private Equity Overview
Private Equity Overview Brookfield is one of the most experienced private equity investors globally $ 151B $ 46B 171 Assets Under Management Fee-Bearing Capital Investment Professionals Key Sectors Products Industrials Infrastructure Services Flagship Fund Complementary Strategies $44B $23B Brookfie
Slide 24: Real Estate Overview
Real Estate Overview Brookfield is one of the largest real estate investors with a diversified portfolio in the world’s most well-established markets $ 272B $ 102B 295 Assets Under Management Fee-Bearing Capital Investment Professionals Key Sectors Products Housing Logistics, Storage Flagship Fund C
Slide 25: Credit Overview
Credit Overview Brookfield’s credit strategies include our longstanding private credit and direct lending funds and our partnerships with leading credit managers $ 349B $ 263B 647 Assets Under Management Fee-Bearing Capital Investment Professionals1 Brookfield Credit Capabilities Partner Managers
Slide 26: Financial Performance and Growth Targets
Financial Performance and Growth Targets 26
Slide 27: Successful efforts on ambitious targets led to record earnings
Successful efforts on ambitious targets led to record earnings We exceeded our targets while returning over $130 billion to our clients Fee-Bearing Capital ($B) Fee-Related Earnings ($M) 15%+ $563 15%+ $2,700 CAGR CAGR $277 $1,319 2020 2025 2020 2025 DE continues to be comprised of essentially 100%
Slide 28: Compounding our proven growth model
Compounding our proven growth model We will continue to scale, expand and diversify across our three main drivers of growth Flagship Funds Complementary Wealth Solutions Products BROOKFIELD.COM 28
Slide 29: Our flagship strategies will drive consistent growth
1. Our flagship strategies will drive consistent growth $ 120B+ 30%+ Growth $ 93B 2030 Round 2025 Round See Notice to Recipients and Endnotes, including endnotes 6 and 10 BROOKFIELD.COM 29
Slide 30: Our complementary strategies will double in size
2. Our complementary strategies will double in size ~$ 50B Mature Strategies ~$ 100B 100%+ Growth $ 52B 2030 2025 ~$ 50B New Strategies See Notice to Recipients and Endnotes, including endnotes 10 and 22 BROOKFIELD.COM 30
Slide 31: Wealth Solutions provides a unique growth engine
3. Wealth Solutions provides a unique growth engine In a competitive market, we have a differentiated insurance partnership, but wealth is also coming 4% 15% Growing to $ 97B 36% Private Funds 45% 325B+ $ 60% 2025 FBC 2030 FBC Private Non-Fund (SMAs) 40% Liquid Credit Figures presented represent fee
Slide 32: Our stable capital base will continue to strengthen
Our stable capital base will continue to strengthen 2025 2030 13% 8% 25% 87% 48% Growing 92% 42% Long Term or To 41% Long Term or Permanent Permanent 14% 9% Long Term Permanent Capital Vehicles Perpetual Strategies Liquid Strategies BROOKFIELD.COM 32
Slide 33: Growing pool of carried interest will drive additional growth
Growing pool of carried interest will drive additional growth Target 2031 – 2035 Cumulative Realized Carried Interest $ 10B Royalty to BN $ 30B $ 10B Net to BAM Gross $10B Costs BROOKFIELD.COM 33
Slide 34: Additional levers for growth
Additional levers for growth We can unlock upside beyond our base plan through various channels… Access to New Capital Solutions M&A 401(k)s Complementary Funds …which creates multiple paths to 20%+ annualized earnings growth BROOKFIELD.COM 34
Slide 35: Robust liquidity position to drive growth
Robust liquidity position to drive growth Our strong liquidity and new debt capacity allow us to capitalize on opportunities and defend against downside risks $ 2.6B $ 750M A / A- Corporate Liquidity Of New 6.077% 30-Year Investment Grade Corporate Senior Unsecured Notes Ratings(1) (Fitch / S&P) Iss
Slide 36: Key takeaways
Key takeaways We set ambitious targets—and have consistently delivered on them Our growth is broad based and diversified across products, partnerships and individuals We expect to double our business over the next five years—with multiple new engines to extend growth for years beyond $1.2T FBC $5.8B
Slide 37: Appendix
Appendix 37
Slide 38: Senior management team
Senior management team Bruce Flatt Connor Teskey Hadley Peer Marshall CEO, Brookfield Asset President, Brookfield Asset Chief Financial Officer, Brookfield Management Management; CEO Renewable Asset Management and Managing Power & Transition Partner, Infrastructure Joined Brookfield: 1990 2012 2015
Slide 39: Notice to Recipients
Notice to Recipients Brookfield Asset Management Ltd. (“BAM,” “Brookfield Asset Management” “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, limited voting shares; (xxviii) exposed risk due to increased amount and type or “Brookfield”) is not making any offer or
Slide 40: Notice to Recipients
Notice to Recipients Target returns and growth objectives set forth in this presentation are for Earnings” or “FRE”). These non-GAAP measures are not standardized illustrative and informational purposes only and have been presented based financial measures and may not be comparable to similar financ
Slide 41: Endnotes
Endnotes All data presented is as of September 30, 2025, unless otherwise noted. returns of committed capital (excluding market valuation adjustments) these funds include the flagship funds Brookfield Infrastructure Fund V, Totals may not add due to rounding. and redemptions; iv) Market activity inc
Slide 42: Endnotes continued
Endnotes continued 11. The target returns set forth herein are for illustrative and informational investor fee schedule), as well as the effects of leverage, if any, due to rounded to the nearest whole number. purposes only. Target gross returns are based on historical the temporary funding in respe
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