Brookfield Corporation and Brookfield Wealth Solutions Corporate Simplification

Brookfield Corporation ("BN") and Brookfield Wealth Solutions ("BWS") announced that their boards of directors have approved a corporate simplification transaction. This transaction will combine BN and BWS under a single publicly traded company, Brookfield Corporation Ltd., to be listed on the NYSE and TSX under the symbol "BN". Under the terms, existing class A shares of BN and BWS will be exchanged on a one-for-one basis for new shares of the combined company. The transaction requires shareholder approval from both BN and BWS and is expected to be completed on a tax-deferred basis for U.S. and Canadian shareholders. Management information circulars detailing the transaction will be filed, and shareholder votes are anticipated at the July 16, 2026 annual general meetings. Following completion, the new entity is expected to maintain the current quarterly distribution levels. The closing of the transaction is contingent upon customary conditions, including regulatory approvals, and is anticipated by year-end. Brookfield Corporation is a global investment firm with businesses in asset management, wealth solutions, and operating businesses in energy, infrastructure, private equity, and real estate. Brookfield Wealth Solutions focuses on retirement services and wealth protection products.