BAM

Item 4 of the Schedule 13D is hereby supplemented as follows: On April 2, 2026, BWS BAM Financing LP (the "Borrower"), as borrower, and certain subsidiaries of BNT, as guarantors, entered into a margin loan agreement with Royal Bank of Canada, as lender and administrative agent, and RBC Capital Markets LLC, as calculation agent, under which the Borrower intends to borrow US$1,000,000,000 (the "Credit Facility") and the Borrower has agreed to pledge 65,000,000 Class A Shares (the "Collateral Shares"). The Credit Facility matures on April 2, 2028. As is customary for this type of credit facility, upon the occurrence of certain events of default that remain unremedied and certain other specified events, the Borrower will be required to repay the amounts outstanding under the Credit Facility. The failure by the Borrower to make such repayment may result in the lenders exercising their rights and disposing of some or all of the Collateral Shares. Unless an event of default is continuing under the Credit Facility, all voting rights and rights to receive dividends and distributions with respect to the Collateral Shares remain with Borrower, subject to the terms of the Voting Agreement described in Amendment No. 1. The Collateral Shares represent less than 6% of the aggregate number of Class A Shares directly and indirectly held by BN and BNT and less than 4% of all the outstanding Class A Shares.

Item 4 of the Schedule 13D is hereby supplemented as follows: On April 2, 2026, BWS BAM Financing LP (the "Borrower"), as borrower, and certain subsidiaries of BNT, as guarantors, entered into a margin loan agreement with Royal Bank of Canada, as lender and administrative agent, and RBC Capital Markets LLC, as calculation agent, under which the Borrower intends to borrow US$1,000,000,000 (the "Credit Facility") and the Borrower has agreed to pledge 65,000,000 Class A Shares (the "Collateral Shares"). The Credit Facility matures on April 2, 2028. As is customary for this type of credit facility, upon the occurrence of certain events of default that remain unremedied and certain other specified events, the Borrower will be required to repay the amounts outstanding under the Credit Facility. The failure by the Borrower to make such repayment may result in the lenders exercising their rights and disposing of some or all of the Collateral Shares. Unless an event of default is continuing under the Credit Facility, all voting rights and rights to receive dividends and distributions with respect to the Collateral Shares remain with Borrower, subject to the terms of the Voting Agreement described in Amendment No. 1. The Collateral Shares represent less than 6% of the aggregate number of Class A Shares directly and indirectly held by BN and BNT and less than 4% of all the outstanding Class A Shares.

Item 4 of the Original Schedule 13D is hereby amended and restated as follows: On February 4, 2025, the Corporation and the Issuer completed a plan of arrangement (the "Arrangement") pursuant to the Business Corporations Act (British Columbia) pursuant to which, among other things, the Issuer effected an issuance of 1,194,021,145 Class A Shares to the Corporation and certain of its subsidiaries in exchange for common shares of Brookfield Asset Management ULC held by the Corporation and certain of its subsidiaries on a one-for-one basis. Upon completion of the Arrangement, the Issuer has 1,637,198,026 issued and outstanding Class A Shares, resulting in the Reporting Persons beneficially owning 1.9% of the Issuer's outstanding Class A Shares.

Item 4 of the Original Schedule 13D is hereby amended and restated as follows: On February 4, 2025, the Corporation and the Issuer completed a plan of arrangement (the "Arrangement") pursuant to the Business Corporations Act (British Columbia) pursuant to which, among other things, the Issuer effected an issuance of 1,194,021,145 Class A Shares to the Corporation and certain of its subsidiaries in exchange for common shares of Brookfield Asset Management ULC held by the Corporation and certain of its subsidiaries on a one-for-one basis. Upon completion of the Arrangement, the Issuer has 1,637,198,026 issued and outstanding Class A Shares, resulting in the Reporting Persons beneficially owning 1.9% of the Issuer's outstanding Class A Shares.