Annual Meeting to Shareholders

JUNE 16 , 2017

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Nominees For Election By The Class A Shareholders

Murilo Ferreira Rafael MirandaAngela BralyElyse Allan

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Nominees For Election By The Class A Shareholders

Diana Taylor Frank McKennaSeek Ngee HuatYoussef Nasr

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Nominees For Election By The Class B Shareholders

Marcel Coutu Bruce FlattJack CockwellJeff Blidner

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Nominees For Election By The Class B Shareholders

David Kerr Lord O’DonnellMaureen Kempston

Darkes

Robert Harding

Annual Meeting to Shareholders

JUNE 16 , 2017

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Cautionary Note Regarding Forward-Looking Statements

Forward-Looking Statements and InformationThis presentation contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States PrivateSecurities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Forward-looking statements include statements that are predictive in nature, dependupon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects,opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of Brookfield Asset Management and its subsidiaries, as well as the outlook for North Americanand international economies for the current fiscal year and subsequent periods. In some cases, forward-looking statements can be identified by terms such as “expects,”“anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “forecasts” or negative versions thereof and other similar expressions, or future or conditionalverbs such as “may,” “will,” “should,” “would” and “could.”

Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based uponreasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknownrisks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Asset Management todiffer materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: the impact orunanticipated impact of general economic, political and market factors in the countries in which we do business; the behavior of financial markets, including fluctuations in interestand foreign exchanges rate; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions includingdispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies andmethods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes;business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate; changesin tax laws, catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risksand factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others shouldcarefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, Brookfield Asset Management undertakes no obligation to publiclyupdate or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

Use of Non-IFRS Measures and OtherThis presentation contains references to financial measures which are not generally accepted accounting measures under IFRS and may differ from similar definitions used byother entities. We believe that these are useful supplemental measures that may assist investors in assessing our financial performance and the cash anticipated to be generatedby our operations. Such measures should not be considered as the sole indicators of our performance and should not be considered in isolation from, or as a substitute for,analysis of our financial statements prepared in accordance with IFRS.

Certain values used in this presentation are for illustrative purposes and based on various factors that may or may not materialize, including past performance metrics that may notbe indicative of future performance.

References to Brookfield, Brookfield Asset Management or BAM are to Brookfield Asset Management Inc. together with its subsidiaries unless the context reflects otherwise.

All amounts are in U.S. dollars unless otherwise specified.

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We have achieved a lot

since our last AGM…

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• Total AUM now exceeds $250 billion

• We are operating in ~30 countries

• Significant expansion in our fee bearing capital and client base

We have continued to expand our franchise

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In addition to return on capital, our business….

• Provides assets that are critical to economies and communities

• Supports the financial health of pensioners and others through the returns we deliver investors

• Contributes to the communities in which we operate including as an employer of more than 70,000 people in ~30 countries

• and we, embed environmental, social, and governance (ESG) principles into our activities

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We completed fundraising for our recent series of flagship funds, doubling the size of the predecessor funds

$4.4 $9 billion$9 billionReal Estate

$1.0 $4 billion$4 billion$0.8Private Equity

$7.0 $14 billion$14 billionInfrastructure $2.7

$1.0

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2015 2017

~180 new institutions invested in our funds,bringing the total to 455 – we believe we will achieve 1,000 in time

455

280

+52%+63%

1) As at March 31, 2017

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…further diversifying our investor base

61%

31%8%

2017

Europe & Other

North America

Asia, Middle East,

Australia

1) As at March 31, 2017. Private fund capital by geography

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30%

55%

11%4%

We have deployed $17 billion of capitalaround the world over the past 12 months

North America

South America

Asia &Other

Europe

Brazil

IndiaU.K.

1) LTM as at March 31, 2017

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And we achieved favourable resultsfor our other listed partnerships

Distribution growth

Price appreciation

Capitalization growth

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The spin-off of Brookfield Business Partners has gone very well

GrafTech Quadrant

Multiplex

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Which has all led to meaningful growth in operating results

Fee bearing capital

Fee related earnings

Annualized fees and target carry

Funds from operations

14%

21%

31%

1) One year increase as at March 31, 2017

19%

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We have achieved this by executing our simple and repeatable business model

Source equity from clients seeking exposure to property and infrastructure returns

Use our access to large scale capital to invest on behalf of clients

Utilize our global reach to identify and acquire high-quality Real Assets

Finance assets on a long-term, low-risk basis

Enhance the cash flows and value of assets by leveraging our leading operating businesses

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Institutions continue to allocate increasing amounts of capital to

Real Asset strategies

Looking ahead…

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Traditional equity and fixed income investments no longer provide sufficient total returns

Negative interest rates in Japan and Europe continue to put downward pressure on the long U.S. rate

Global growth is slow so it looks like we will continue in a low interest rate environment for a while

Institutional investors are in search of alternatives

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Shifts in portfolio allocations are being largely driven by…

• Macroeconomic factors– continued slow growth and low interest rate environment

• Continued acceptance of Real Assets as an asset class – with infrastructure investment growing at accelerated rates

• Changes in regulation – increasing allocations to alternatives and foreign investments

by Asian insurance companies and institutions

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Allocation trends should continue, irrespective of interest rates

• Interest rates should slowly move up in the U.S.

• Our business model works very well even if rates trend higher

• We have found that Real Assets retain their value across the cycle

• Interest rates should rise only if the economy is improving… leading to growth in cash flow returns

Returns on Real Assets remain extremely attractive in this environment

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We are well positioned as a

partner of choice

for Real Asset strategies

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We have a number of competitive strengths…

115 years of operating experience – 70,000 employees

Multiple fund offerings – three ways to invest

Established governance and client service capabilities

Large scale capital – Over $250 billion of assets under management

Global presence – ~30 countries

Strong track record – proven investment results

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We provide three distinct offerings, which appeal to a broad range of investors

Listed Partnerships

$52 billion $50 billion $11 billion1

Private Funds

Public Securities

$113 Billion Fee Bearing Capital

1) As at March 31, 2017

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…which allows us to use multiple channels to source capital to fund transactions… quickly

Private Funds

Listed Partnerships

Co-investors

BAM

Joint VenturePartners

Transactions

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In an industry headed towards +$70 trillion of flows by 2020s, we have already established the backbone

to manage this growth

Investors and regulators expect best-in-class governance and compliance

We have invested in our client service capabilities

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Our large scale capital is a distinct advantage

• Real Asset transactions can require extremely large capital commitments

• $113 billion of committed capital within funds

– $20 billion of dry powder in private funds

– Listed partnership liquidity and perpetual equity

• Relationships with global institutions provide substantial co-invest and joint venture capital

• Our corporate balance sheet provides additional liquidity and flexibility

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Vintage Gross IRR1

OpportunisticReal Estate 2006 – 2015 21%Private Equity 2001 – 2015 22%

Core Plus and Value-addReal Estate 2011 – 2016 26%Infrastructure 2006 – 2016 17%Sustainable Resources 2008 – 2015 7%Finance 2004 – 2016 13%

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Our private funds provide investors access to premium returns across the Real Asset investible universe

Notes/Assumptions:1) As at March 31, 2017. Excludes funds in market and funds closed within twelve months of the performance calculation date. Past performance is not indicative of

future performance. Reflects IRR before fund expenses, management fees (or equivalent fees), and carried interest (if any), which would reduce an investor return.

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We continue to identify

many attractive investment opportunities…

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Natural gas pipeline in southeast Brazil

$5.2 billion LARGE SCALE CAPITAL

BrazilGLOBAL REACH

Pipeline TeamOPERATING CAPABILITIES

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Telecom towers portfolio in India

$600 million LARGE SCALE CAPITAL

IndiaGLOBAL REACH

Telecom TeamOPERATING CAPABILITIES

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Water distribution, collection and treatment in Brazil

$1 billion LARGE SCALE CAPITAL

BrazilGLOBAL REACH

Water Engineering TeamOPERATING CAPABILITIES

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3,032 MW hydro portfolio in Colombia

$5 billion LARGE SCALE CAPITAL

ColombiaGLOBAL REACH

Renewable TeamOPERATING CAPABILITIES

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Landmark mixed-use commercial complex in Seoul

$2.3 billion LARGE SCALE CAPITAL

South KoreaGLOBAL REACH

Property TeamOPERATING CAPABILITIES

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All of which has enabled us to invest our flagship private funds capital...

BCP IV

>55%INVESTED1

BIF III

>45%INVESTED1

BSREP II

~80%INVESTED1

…and be in a position to begin fundraising for our next series later this year

1) As at March 31, 2017 – invested and committed

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Looking ahead, we are focused on five things…

Enhancing returns and asset values

Maintain excellent client service and expanding our investor base

Sourcing deals and investing $20 billion of dry powder at or above target returns

Preparing for next series of flagship funds and launching new products

Optimizing value of listed issuers

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Q & A

Annual Meeting to Shareholders

JUNE 16 , 2017