Brookfield Corporation · NYSE:BN
Brookfield — Shareholder Meeting (June 2021)
38 slides from Brookfield's shareholder meeting presentation, Jun 11, 2021
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders FRIDAY, JUNE 11, 2021
Slide 2: Business of the Meeting
Business of the Meeting 1. Receiving the Consolidated Financial Statements 2. Election of Directors 3. Appointment of External Auditors 4. Advisory Resolution on Approach to Executive Compensation FRANK MCKENNA CHAIR OF THE BOARD 2
Slide 3: Nominees for Election by the Class A Shareholders
NOMINEES FOR ELECTION BY THE Class A Shareholders ELYSE ANGELA JANICE MAUREEN ALLAN BRALY FUKAKUSA KEMPSTON DARKES 3
Slide 4: Nominees for Election by the Class A Shareholders
NOMINEES FOR ELECTION BY THE Class A Shareholders HUTHAM NGEE HUAT DIANA FRANK OLAYAN SEEK TAYLOR MCKENNA 4
Slide 5: Nominees for Election by the Class B Shareholders
NOMINEES FOR ELECTION BY THE Class B Shareholders JEFF JACK MARCEL BRUCE BLIDNER COCKWELL COUTU FLATT 5
Slide 6: Nominees for Election by the Class B Shareholders
NOMINEES FOR ELECTION BY THE Class B Shareholders BRIAN HOWARD RAFAEL LORD LAWSON MARKS MIRANDA O’DONNELL 6
Slide 7: Business of the Meeting
Business of the Meeting 1. Receiving the Consolidated Financial Statements 2. Election of Directors 3. Appointment of External Auditors 4. Advisory Resolution on Approach to Executive Compensation FRANK MCKENNA CHAIR OF THE BOARD 7
Slide 8: Brookfield Shareholder Presentation
Brookfield Shareholder Presentation 1. The Year in Review 2. Looking Forward 3. Priorities NICHOLAS GOODMAN CHIEF FINANCIAL OFFICER 8
Slide 9: The Year in Review
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Slide 10: We demonstrated the resiliency of our business model
We demonstrated the resiliency of our business model and strengthened the foundation of our business over the past year, and we have never been in better shape 10
Slide 11: Over the last year, we…
Over the last year, we… Raised $40 billion Invested $43 billion Realized $6.1 billion of capital across of capital in high-quality of distributable earnings our business investments globally Note/Assumption: 1. For the last twelve months ended March 31, 2021. 11
Slide 12: Operations robust and resilient to economic cycles
The characteristics of our operations have proven to be robust and resilient to economic cycles Long-term, Essential products Sticky customer Conservative capital contracted cash and service relationships structure flows providers 12
Slide 13: Underlying businesses to benefit as global economy normalizes
As the global economy normalizes, we expect our underlying businesses to benefit Automotive battery Toll roads Shopping malls manufacturer Office buildings 13
Slide 14: Well-positioned for growth opportunities
And we remain well-positioned for growth opportunities Fee-bearing capital Record levels of Strong monetization and continuously growing core liquidity capital recycling activity 14
Slide 15: Our fee-bearing capital continues to grow
Our fee-bearing capital continues to grow $264 $319 billion billion Q1 2020 Q1 2021 Fee-bearing capital increased by $55 billion over the last 12 months 15
Slide 16: On track to achieve $100 billion flagship fundraising target
And we are on track to achieve our $100 billion flagship fundraising target Previous two vintages New vintage ($billions) Fund size Fund size Fund size Infrastructure $14.0 $20.0 Real Estate $ 9.0 $15.0 Private Equity $ 4.0 $ 9.0 Distressed Debt - $12.5 $14.71 Global Transition - - $ 7.52 1. As at M
Slide 17: Expanding our asset management offering
In addition to our flagship funds, we continue to expand our asset management offering Create new product offerings Expand new Grow existing products into perpetual and existing core products verticals 17
Slide 18: Strong client relationships position us well for fundraising
And our strong client relationships position us well for fundraising We continue to grow our client base and retain investors Average commitment size per investor is increasing ~50% LPs are invested in more than one fund Number of products per investor is increasing Note/Assumption: 1. LP analysis a
Slide 19: Our liquidity is the strongest it has ever been
Our liquidity is the strongest it has ever been $18 $62 $80 billion billion billion Core liquidity Uncalled fund Total liquidity commitments Note/Assumption: 1. Liquidity as of March 31, 2021. 19
Slide 20: And continues to be bolstered through
And continues to be bolstered through Distributable Realized Balance sheet earnings before carried interest recycling realizations 20
Slide 21: Progressing our strategic initiatives
Which will allow us to progress our strategic initiatives Spin-out of Privatization of BAM Re BPY 21
Slide 22: In summary
In summary Our operating businesses are performing well and have demonstrated their resiliency Our asset management franchise and client base continues to grow We are well positioned to take advantage of the current and future environment 22
Slide 23: Looking Forward
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Slide 24: Interest rate environment is favorable for our business
The interest rate environment today is favorable for our business, and this will continue to be the case even with rising rates 24
Slide 25: Ideal conditions: strong economic growth with somewhat higher rates
Ideal conditions for our business are strong economic growth with somewhat higher rates Global economies performing well creates a constructive environment Our assets have inflation-linked contracts that provide protection We own real assets that are even more valuable when fundamentals are strong W
Slide 26: Our competitive advantages remain unchanged
Our competitive advantages remain unchanged Size & Scale Operating expertise Global reach 26
Slide 27: Size & Scale
1 Size & Scale Our Balance Sheet & Listed Private Fund Co-investment Affiliate Balance Capital Capital Sheets 27
Slide 28: Operating Expertise
2 Operating Expertise ~150,000 OPERATING EMPLOYEES 28
Slide 29: Global Reach
3 Global Reach EUROPE & MIDDLE EAST $109B AUM NORTH AMERICA $383B AUM ASIA PACIFIC $77B AUM SOUTH AMERICA $40B AUM 29
Slide 30: We always invest with a high priority on ESG principles
We always invest with a high priority on ESG principles Ensure the Be good stewards Mitigate the Conduct business well-being and in the communities impact of our according to the safety of in which operations on the highest ethical employees we operate environment and legal / regulatory standards 30
Slide 31: We deployed capital into many large-scale opportunities
We deployed capital into many large-scale opportunities across our platforms over the past year 31
Slide 32: Across a variety of geographies
Across a variety of geographies Infrastructure Private Equity Renewable Power Real Estate Indian Telecom Towers Sagen Privatization Shepherds Flat Wind Farm RMZ Office Portfolio Asia North America North America Asia $3.4B $1.3B $745M $630M Large-scale capital Large-scale capital Large-scale capital
Slide 33: Brookfield Shareholder Presentation
Brookfield Shareholder Presentation 1. The Year in Review 2. Looking Forward 3. Priorities BRUCE FLATT CHIEF EXECUTIVE OFFICER 33
Slide 34: In conclusion, we are focused on four things…
In conclusion, we are focused on four things… Maintaining sufficient liquidity across all parts of our business Remaining disciplined when assessing investment opportunities Deploying capital for value and delivering long-term returns to our investors Setting ourselves up for long-term growth 34
Slide 35: Q&A
Q&A Brookfield
Slide 36: Annual Meeting of Shareholders
Annual Meeting of Shareholders
Slide 37: Notice to Readers
Notice to Readers Brookfield is not making any offer or invitation of any kind by communication of this document to the recipient and under no circumstances is it to be construed as a prospectus or an advertisement. Except where otherwise indicated herein, the information provided herein is based on
Slide 38: Notice to Readers cont’d
Notice to Readers cont’d CAUTIONARY STATEMENT REGARDING USE OF NON-IFRS MEASURES This presentation contains references to financial metrics that are calculated and presented using methodologies other than in accordance with International Financial Reporting Standards (“IFRS”), as issued by the Inter