DBRS Morningstar Ratings Brookfield Corporate Treasury’s New US$1.93 Billion Commercial Paper Program R-1 (Low)

DBRS Limited (DBRS Morningstar) assigned a rating of R-1 (low) to the stable trend. of Brookfield Corporate Treasury Ltd. New Commercial Paper Program (CP Program).

Short-term promissory notes issued under the CP program are fully, irrevocably and unconditionally guaranteed. Brookfield Asset Management Co., Ltd. (BAM), rated A (low) on a stable trend by DBRS Morningstar. The CP program is fully backed by BAM’s line of credit.

Environmental, social and governance considerations

There were no environmental/social/governance factors that had a material or relevant impact on the credit analysis.

A discussion of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approaches to Environmental, Social and Governance Risk Factors in Credit Ratings http://www.dbrsmorningstar.com/research/). 396929> (May 17th2022).

Note:

All figures are in Canadian dollars unless otherwise noted.

The main methodology is DBRS Morningstar Criteria: Commercial Paper Liquidity Support for Nonbank Issuers (March 1, 2022https://www.dbrsmorningstar.com/research/393065>) and DBRS Morningstar Global Criteria: Guarantees and Other Forms of Support (April 4, 2022: https://www.dbrsmorningstar.com/research/394683>), which can be found under Methodology & Criteria on dbrsmorningstar.com.

A description of how DBRS Morningstar analyzes corporate finance transactions and how the methodologies are applied together can be found at https://www.dbrsmorningstar.com/research/397223/interplay-of-global-corporate You can find it at -finance-rating-methodologies-. When analyzing corporate financial transactions >.

Relevant regulatory disclosures pursuant to National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference, click the link below for relevant documents or contact info@dbrsmorningstar.com’ >info@dbrsmorningstar.com. can be found.

The rated entity or its related entities participated in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its affiliated entities in connection with this rating action.

Conditions leading to negative or positive trend assignments are typically resolved within 12 months. DBRS Morningstar trends and ratings are monitored regularly.

For more information about this credit or this industry, please visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com’ >info@dbrsmorningstar.com.

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