CEO.CA Chairman's Briefing

TORONTO, July 21, 2021 /CNW/ - The shareholders of Brookfield Asset Management Inc (TSX: BAM.A) and Brookfield Property Partners L.P. (TSX: BPY.UN) have agreed to the terms of the Arrangement Agreement resulting in the combination of the two companies. Each unit of Brookfield Property Partners L.P. will be exchanged for 0.4006 shares of Brookfield Asset Management or US$18.17 cash or 0.7268 New LP Preferred Units subject to proration. Unit holders who make no election will receive the default consideration of 50.4678% cash, 41.8104% shares and 7.7218% Preferred Units. Brookfield Property Partners L.P. will be removed from the S&P/TSX Composite Index and S&P/TSX 60 Index prior to the open of trading on Tuesday, July 27, 2020.

CAE Inc. (TSX: CAE) will replace Brookfield Property Partners L.P. in the S&P/TSX 60 Index effective prior to the open of trading on Tuesday, July 27, 2020.

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