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2014Annual Financial Statements

For the period from January 1, 2014 to December 31, 2014

Brookf ie ld Global Infrastructure Secur i t ies Income FundBGI.UN

Brookfield Investment Management

Brookfield Global Infrastructure Securities Income Fund

2014 Annual Financial Statements | 1

Management’s Responsibility for the Financial Statements

The accompanying financial statements of Brookfield Global Infrastructure Securities Income Fund (the“Fund”) are the responsibility of the management of the Fund. Brookfield Investment Management(Canada) Inc., is the manager (the “Manager”) of the Fund. To fulfill these responsibilities, theManager maintains policies, procedures and systems of internal control to ensure that it’s reportingpractices and accounting and administrative procedures are appropriate. These policies and proceduresare designed to provide a high degree of assurance that relevant and reliable financial information isproduced.

These financial statements have been prepared in accordance with International Financial ReportingStandards, and where appropriate, reflect Management’s best estimates and judgments.

The Manager is responsible for the information and representations contained in these Annual FinancialStatements and the Annual Management Report of Fund Performance. The Manager is also responsiblefor the selection of the accounting principles that are most appropriate for the Fund’s circumstances.

The Manager, on behalf of the unitholders, has appointed the external firm Deloitte LLP as theindependent auditor of the Fund. The auditors have examined the financial statements in accordancewith auditing standards generally accepted in Canada to enable them to express to the unitholderstheir opinion on the financial statements. The auditor’s report outlines the scope of their audit andtheir opinion of the financial statements.

Gail Cecil Jonathan TyrasPresident Chief Financial Officer



Independent Auditor’s Report

To the Unitholders of Brookfield Global Infrastructure Securities Income Fund

We have audited the accompanying financial statements of Brookfield Global Infrastructure SecuritiesIncome Fund, which comprise the statements of financial position as at December 31, 2014,December 31, 2013 and July 18, 2013, and the statements of comprehensive income, statements ofchanges in net assets attributable to holders of redeemable units and statements of cash flows for theyear ended December 31, 2014 and the period from July 18, 2013 to December 31, 2013, and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements inaccordance with International Financial Reporting Standards, and for such internal control asmanagement determines is necessary to enable the preparation of financial statements that are freefrom material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. Weconducted our audits in accordance with Canadian generally accepted auditing standards. Thosestandards require that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures inthe financial statements. The procedures selected depend on the auditor's judgment, including theassessment of the risks of material misstatement of the financial statements, whether due to fraud orerror. In making those risk assessments, the auditor considers internal control relevant to the entity'spreparation and fair presentation of the financial statements in order to design audit procedures thatare appropriate in the circumstances, but not for the purpose of expressing an opinion on theeffectiveness of the entity's internal control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of accounting estimates made by management, as wellas evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained in our audits is sufficient and appropriate toprovide a basis for our audit opinion.

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position ofBrookfield Global Infrastructure Securities Income Fund as at December 31, 2014, December 31, 2013and July 18, 2013, and its financial performance, its changes in net assets attributable to holders ofredeemable units and its cash flows for the year ended December 31, 2014 and for the period from July18, 2013 to December 31, 2013 in accordance with International Financial Reporting Standards.

Chartered Professional Accountants, Chartered AccountantsLicensed Public AccountantsMarch 30, 2015



STATEMENTS OF FINANCIAL POSITIONAs at December 31, 2014, December 31, 2013, and July 18, 2013(Expressed in Canadian Dollars)

See accompanying notes to financial statements.

Approved on behalf of the Manager, Brookfield Investment Management (Canada) Inc.

______________________ ______________________Gail Cecil Jonathan TyrasDirector Director

As at As at As at

December 31, 2014 December 31, 2013 July 18, 2013$ $ $

AssetsCurrent assets

Financial assets at fair value through profit or loss 434,656,837 467,414,055 -

Cash and cash equivalents 115,025,296 59,293,358 -

Accrued investment income 1,452,269 1,091,189 -

Due from broker 13,758,499 2,011,862 -Accounts receivable − 272,782 -

Total assets 564,892,901 530,083,246 -

LiabilitiesCurrent liabilities

Financial liabilities at fair value through profit or loss 61,954,972 38,038,346 -

Due to broker 2,257,580 - -

Distributions payable (Note 12) 5,143,553 5,160,000 -

Margin payable (Note 6) 139,071,594 127,854,880 -

Dividends payable - 4,622 -

Accounts payable and accrued liabilities 1,012,851 4,382,758 -

Total liabilities (excluding net assets attributable

to holders of redeemable units) 209,440,550 175,440,606 -

Net assets attributable to holders of redeemable units 355,452,351 354,642,640 -

Number of redeemable units outstanding (Note 11) 34,290,350 34,400,000 -

Net assets attributable to holders of redeemable units per unit 10.37 10.31 -



STATEMENTS OF COMPREHENSIVE INCOMEFor the twelve month period ended December 31, 2014 and for the period from July 18, 2013 to December 31, 2013,(Expressed in Canadian Dollars)


2014 2013$ $

Investment incomeInterest income for distribution purposes 78,419 44Dividend income 15,587,282 9,378,625

Net realized foreign exchange loss (4,867,975) (2,982) Net realized gain on sale of investments 33,255,004 9,787,432 Net realized gain on forward currency contracts 2,153,597 - Net change in unrealized foreign exchange loss (7,205,070) (2,832,635) Net change in unrealized (depreciation) appreciation on investments (3,161,193) 33,188,707Total income 35,840,064 49,519,191

Expenses (Note 9)Management fees 5,367,873 2,142,274Performance fees 395,274 3,388,265Interest expense 1,176,740 365,489Dividend expense 1,020,065 734,672Brokerage commissions and other charges 1,741,476 1,231,955Other expenses 680,625 67,618Legal expense 22,058 -Audit expense 42,800 -

Total expenses 10,446,911 7,930,273

Operating profit 25,393,153 41,588,918

Withholding taxes (2,887,212) (1,766,278)

Increase in net assets attributable to holders of redeemable units 22,505,941 39,822,640

Increase in net assets attributable to holders of redeemable units per unit 0.66 1.16



STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLEUNITSFor the twelve month period ended December 31, 2014 and for the period from July 18, 2013 to December 31, 2013,(Expressed in Canadian Dollars)


2014 2013$ $

Net assets attributable to holders of redeemable units, beginning of period 354,642,640 -


Redeemable unit transactions

Amounts received from issuance of units - 344,000,000Amounts received from reinvestment of distributions 7,498,215 -Amounts paid for redemption of units (1,105,542) (18,860,000)

Net increase from redeemable unit transactions 6,392,673 325,140,000

Distribution to holders of redeemable unitsReturn of net investment income (20,590,688) (8,981,846)Return of capital gains (7,498,215) -Return of capital - (1,338,154)

Total distributions to holders of redeemable units (28,088,903) (10,320,000)

Net increase in net assets attributable to holders of redeemable units 809,711 354,642,640

Net assets attributable to holders of redeemable units, end of period 355,452,351 354,642,640



STATEMENTS OF CASH FLOWSFor the twelve month period ended December 31, 2014 and for the period from July 18, 2013 to December 31, 2013,(Expressed in Canadian Dollars)


2014 2013

$ $

Cash flows provided by (used for):

Cash flows from operating activities


Adjsutments for:

Interest income for distribution purposes (78,419) (44)

Dividend income, net of withholding taxes (12,700,070) (7,612,347)

Net realized gain on sale of investments (33,255,004) (9,787,432)

Net change in unrealized depreciation (appreciation) on investments 3,161,193 (33,188,707)

Net change in unrealized foreign exchange loss 7,205,070 2,832,635

(Increase) decrease in accounts receivable 272,782 (272,782)

(Decrease) increase in accounts payable and accrued liabilities (3,369,907) 4,382,758

Interest received (paid) (412,794) 44

Dividends received, net of withholding taxes 12,825,580 6,525,780

Proceeds from sale of investments 201,528,669 244,500,998

Amounts paid for purchase of investments (124,250,070) (632,912,430)

Net cash from (used in) operating activities 73,432,971 (385,708,887)

Cash flows from financing activities

Margin payable, net (repayments)

borrowings and foreign exchange4,011,644 125,022,245

Proceeds from issuance of redeemable units - 344,000,000

Distributions to holders of redeemable units (20,607,135) (5,160,000)

Amounts paid for redemption of units (1,105,542) (18,860,000)

Net cash (used in) from financing activities (17,701,033) 445,002,245

Net increase in cash and cash equivalents 55,731,938 59,293,358

Cash and cash equivalents, beginning of period 59,293,358 -

Cash and cash equivalents, end of period 115,025,296 59,293,358



SCHEDULE OF INVESTMENTSAs at December 31, 2014(Expressed in Canadian Dollars)

Average Cost Fair Value % of netQuantity Security $ $ assets

BondsUnited States Dollar Denominated

3,424,000 Approach Resources Inc. 7.000% 15JUN21 2,857,781 2,929,775 0.82

617,000 Bill Barrett Corp. 7.625% 01OCT19 610,583 650,324 0.18

1,827,000 Bonanza Creek Energy Inc. 6.750% 15APR21 1,769,281 1,862,191 0.52

8,337,000 EV Energy Finance Corp. 8.000% 15APR19 8,008,432 8,207,895 2.31

685,000 Laredo Petroleum Inc. 5.625% 15JAN22 648,924 694,227 0.20

7,533,000 Laredo Petroleum Inc.7.375% 01MAY22 7,929,954 8,157,979 2.30

685,000 MEG Energy Corp. 6.375% 30JAN23 633,477 708,111 0.20

685,000 MEG Energy Corp. 6.500% 15MAR21 661,366 723,979 0.20

1,375,000 MEG Energy Corp. 7.000% 31MAR24 1,271,509 1,465,189 0.41

1,876,000 Sanchez Energy Corp. 6.125% 15JAN23 1,672,370 1,825,219 0.51

4,792,000 Sanchez Energy Corp. 7.750% 15JUN21 4,805,839 5,161,819 1.45

30,869,516 32,386,708 9.10Equities - Long

United States Dollar Denominated241,100 Access M idstream Partners LP 16,147,474 15,135,597 4.26127,500 American Tower Corp. 11,540,993 14,597,884 4.11

147,253 Atlas Pipeline Partners LP 5,236,525 4,649,359 1.31

872,500 Boardwalk Pipeline Partners LP 15,330,086 17,957,915 5.05601,500 Crestwood Equity Partners LP 9,550,024 5,643,177 1.59

2,307,333 Dakota Plains Holdings Inc. 5,263,859 4,703,552 1.32146,700 Edison International 9,993,467 11,126,071 3.13454,600 Emerge Energy Services LP 30,277,223 28,433,233 8.00202,600 Energy Transfer Equity LP 6,852,730 13,464,897 3.79120,500 Energy Transfer Partners LP 8,576,913 9,072,009 2.55762,800 EV Energy Partner LP 28,490,454 17,025,326 4.7950,400 Kansas City Southern 5,052,958 7,123,611 2.00

105,800 Norfolk Southern Corp. 12,619,140 13,431,945 3.78

100,800 SBA Communications Corp. 8,358,933 12,931,429 3.6457,300 SemGroup Corp. 4,137,341 4,538,896 1.28

73,200 Sempra Energy 6,510,224 9,441,552 2.66

120,998 Southcross Energy Partners LP 2,271,256 2,228,324 0.63

117,100 Spectra Energy Corp. 4,093,749 4,923,416 1.39

168,200 Teekay Corp. 9,794,051 9,914,287 2.79

109,600 Union Pacific Corp. 12,944,997 15,122,888 4.25

254,800 Williams Cos Inc. 9,100,238 13,262,810 3.73222,142,635 234,728,178 66.05

Canadian Dollar Denominated167,700 Enbridge Inc. 7,330,928 10,018,398 2.82483,700 Inter Pipeline Ltd. 15,274,463 17,384,178 4.89

1,635,855 Veresen Inc. 23,817,308 30,034,298 8.4546,422,699 57,436,874 16.16



Hong Kong Dollar Denominated11,763,400 CGN Power Co Ltd. 4,839,929 5,920,968 1.676,053,200 COSCO Pacific Ltd. 8,862,040 9,963,148 2.80

711,700 ENN Energy Holdings Ltd. 4,240,779 4,677,132 1.32

17,942,748 20,561,248 5.79Brazilian Real Denominated

627,300 CCR SA 5,155,514 4,212,048 1.185,155,514 4,212,048 1.18

Euro Denominated284,100 Atlantia SpA 6,649,506 7,696,781 2.17178,575 Digital Multimedia Tech SpA 10,799,655 10,354,096 2.91296,873 Eutelsat Communications SA 9,871,025 11,148,860 3.14350,096 Ferrovial SA 6,035,272 8,059,322 2.27554,100 GDF Suez 11,964,144 15,089,226 4.25

45,319,602 52,348,285 14.74Swiss Franc Denominated

14,400 Flughafen Zuerich AG 7,806,612 11,187,448 3.157,806,612 11,187,448 3.15

Australian Dollar Denominated1,218,500 Origin Energy Ltd. 17,998,756 13,478,446 3.79

17,998,756 13,478,446 3.79British Pound Denominated

999,900 Drax Group PLC 10,106,278 8,317,602 2.3410,106,278 8,317,602 2.34

Transaction costs (546,500)Total long investments 403,217,860 434,656,837 122.30Equities - Short

United States Dollar Denominated(177,368) Hi-Crush Partners LP (6,244,194) (6,374,705) (1.79)(128,100) iShares U.S. Oil Equipment & Services ETF (7,478,186) (7,412,669) (2.09)(559,000) JPMorgan Alerian MLP Index ETN (29,612,746) (29,750,918) (8.37)(133,100) Magellan Midstream Partners LP (11,759,496) (12,743,141) (3.59)(47,800) Utilities Select Sector SPDR Fund (2,513,869) (2,614,309) (0.74)

(57,608,491) (58,895,742) (16.58)Hong Kong Dollar Denominated

(196,500) CLP Holdings Ltd. (1,901,780) (1,973,716) (0.56)(1,068,800) Huadian Power International Corp Ltd. (992,745) (1,085,514) (0.31)

(2,894,525) (3,059,230) (0.87)Transaction costs (40,493)

Total short investments (60,543,509) (61,954,972) (17.45)

Total investments 342,674,351 372,701,865 104.85Cash and cash equivalents 115,025,296 32.37Accrued investment income 1,452,269 0.41Due from broker 13,758,499 3.87Liabilities, net of other assets (147,485,578) (41.50)Net assets attributable to holders of redeemable units 355,452,351 100.00



NOTES TO THE ANNUAL FINANCIAL STATEMENTS

1. THE FUND

Brookfield Global Infrastructure Securities Income Fund (the “Fund”) is an investment fund establishedunder the laws of the Province of Ontario pursuant to a Declaration of Trust dated June 24, 2013. TheFund effectively began operations on July 18, 2013 when it completed an initial public offering of32,500,000 units of the Fund (the “Units”) and subsequently issued 1,900,000 Units pursuant to anover-allotment option on July 30, 2013 at $10.00 per Unit (the “Offering”), for gross proceeds of$344.0 million and net proceeds of $325.1 million after deducting issuance costs of approximately$18.9 million.

The investment objectives of the Fund are to (i) provide holders of Units (“Unitholders”) with quarterlycash distributions; (ii) maximize total return for Unitholders through distributions and capitalappreciation; and (iii) preserve capital of the Fund by investing in a portfolio (the “Portfolio”)comprised primarily of equity securities of publicly-traded global infrastructure companies that ownand operate infrastructure assets.

Brookfield Investment Management (Canada) Inc. (“BIM Canada”) is the manager (the “Manager”) andthe trustee of the Fund. Brookfield Investment Management Inc. (“BIM”) is the investment manager(the “Investment Manager”) of the Fund. The Investment Manager makes all of the investment andtrading decisions on behalf of the Fund. The Fund’s registered office is Brookfield Place, 181 BayStreet, Suite 300 Toronto, Ontario Canada M5J 2T3. These financial statements were authorized forissue by the Manager on March 30, 2015.

2. BASIS OF PRESENTATION AND ADOPTION OF IFRS

These financial statements have been prepared in compliance with International Financial ReportingStandards ("IFRS"). The Fund adopted this basis of accounting in 2014 as required by Canadian securitieslegislation and the Canadian Accounting Standards Board. Previously, the Fund prepared its financialstatements in accordance with Canadian generally accepted accounting principles as defined in Part Vof the Chartered Professional Accountants of Canada Handbook ("Canadian GAAP"). The Fund hasconsistently applied the accounting policies used in the preparation of its opening IFRS statement offinancial position at July 18, 2013 and throughout all periods presented, as if these policies had alwaysbeen in effect.

The financial statements have been prepared on the historical cost basis, except for the revaluation ofcertain financial instruments. Historical cost is generally based on the fair value of the considerationgiven in exchange for assets. Note 14 discloses the impact of the transition to IFRS on the Fund'sreported financial position, financial performance and cash flows, including the nature and effect ofsignificant changes in accounting policies from those used in the Fund's financial statements for theyear ended December 31, 2013 which were prepared under Canadian GAAP.

In applying IFRS, management makes estimates and assumptions that may affect the amounts of assets,liabilities, income and expenses reported in these financial statements. The most significant estimatesrelate to the valuation of investments. Actual results may differ from the estimates.

3. SIGNIFICANT ACCOUNTING POLICIES

Financial InstrumentsThe Fund’s investments in equity and fixed income securities are designated at fair value throughprofit or loss (“FVTPL”) at inception. The Fund’s derivatives are categorized as held for trading. As a



result of such designation and categorization, the Fund’s investments and derivatives are measured atFVTPL. The Fund’s accounting policies for measuring the fair value of its investments and derivativesare identical to those used in measuring its published Net Asset Value (NAV).

OffsettingFinancial assets and liabilities are offset and the net amount presented in the stat Statements ofFinancial Position only when the Fund has a legal right to offset the amounts and intends either tosettle on a net basis or to realize the asset and settle the liability simultaneously. In the normal courseof business, the Fund enters into various master netting agreements or similar agreements that do notmeet the criteria for offsetting in the Statements of Financial Position but still allow for the relatedamounts to be offset in certain circumstances, such as bankruptcy or termination of contracts.

Fair Value MeasurementFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderlytransaction between market participants at the measurement date. The fair value of financial assetsand liabilities traded in active markets (such as publicly traded marketable securities) are based onquoted market prices at the close of trading on the reporting date. However, if (i) a fair value orprice is not readily available, (ii) the available quotations are not believed to be reflective of fair valueby the Investment Manager, or (iii) a significant event has occurred that would materially affect thevalue of the security, the security is fair valued, as determined in good faith, by the Fund’s ValuationCommittee. The Fund’s Valuation Committee is comprised of senior members of the InvestmentManager’s management team. The price determined by the Valuation Committee is an estimate andmay differ from the actual price used in a purchase or sale transaction. The Fund’s policy is torecognize transfers into and out of the fair value hierarchy levels as of the date of the event or changein circumstances giving rise to the transfer.

The fair value of financial assets and liabilities that are not traded in an active market including over-the-counter derivatives is determined using established valuation procedures. The Fund uses a varietyof methods and makes assumptions that are based on market conditions existing at each measurementdate. Valuation techniques include the use of comparable recent arm’s length transactions, referenceto other instruments that are substantially the same and others commonly used by market participantsand which make the maximum use of observable inputs. Refer to Note 7 for further information aboutthe Fund’s fair value measurements.

All investment transactions are accounted for on the trade date. Realized gains and losses frominvestment transactions and unrealized appreciation or depreciation in the value of investments arecalculated on an average cost basis, excluding transaction costs and the effect of foreign exchangefluctuations, which are disclosed separately.

Other assets and liabilitiesFor the purpose of categorization, accrued investment income is recorded at cost or amortized cost.Similarly, margin payable, payables for securities purchased, distributions payable and accountspayable and accrued liabilities are deemed to be other financial liabilities and reported at amortizedcost. All other financial assets and liabilities are measured at amortized cost. Under this method,financial assets and liabilities reflect the amounts required to be received or paid, discounted whenappropriate, at the financial instrument’s effective interest rate. The fair values of the Fund’sfinancial assets and liabilities that are not carried at FVTPL approximate their carrying amounts due totheir short-term nature.

Revenue recognitionDividend income is recognized on the ex-dividend date and the interest for distribution purposes shownon the Statements of Comprehensive Income represents the coupon interest received by the Fundaccounted for on an accrual basis.



Transaction costsTransaction costs, such as brokerage commissions incurred in the purchase and sale of securities by theFund, are expensed and are included in operating expenses in the Statements of ComprehensiveIncome. Transaction costs are incremental costs that are directly attributable to the acquisition, issueor disposal of an investment, which include fees and commissions paid to agents, advisors, brokers anddealers, levies by regulatory agencies and securities exchanges, and transfer taxes and duties.

Functional and presentation currencyThe performance of the Fund is measured and reported to the investors in Canadian dollars. TheManager considers the Canadian dollar as the currency that most faithfully represents the economiceffects of the underlying transactions, event and conditions. These financial statements are presentedin Canadian dollars, which is the Fund’s functional currency.

Foreign currency translationInvestments and other assets denominated in foreign currencies are translated into Canadian dollarsusing the rate of exchange prevailing on the trade date. Investment transactions and income andexpenses are translated at the rate of exchange on the date of such transactions. The fair values ofinvestments and other assets and liabilities in foreign currencies are translated at the period-endexchange rates.

Forward currency contractsForward currency contracts, if applicable, are valued at current market value on each valuation date.The value is determined as the gain or loss that would be realized, if on the valuation date, theposition of the forward currency contracts were closed out.

Redeemable UnitsThe Fund’s redeemable Units are classified as financial liabilities. Distributions to holders ofredeemable units are recognized in Statement of Changes in Net Assets Attributable to Holders ofRedeemable Units when they are authorized.

New standards and interpretations not yet adopted:The final version of IFRS 9, Financial Instruments, was issued by the International Accounting StandardsBoard in July 2014 and will replace IAS 39 Financial Instruments: Recognition and Measurement. IFRS 9introduces a model for classification and measurement, a single, forward-looking ‘expected loss’impairment model and a substantially reformed approach to hedge accounting. The new single,principle based approach for determining the classification of financial assets is driven by cash flowcharacteristics and the business model in which an asset is held. The new model also results in a singleimpairment model being applied to all financial instruments, which will require more timelyrecognition of expected credit losses. It also includes changes in respect of own credit risk inmeasuring liabilities elected to be measured at fair value, so that gains caused by the deterioration ofan entity’s own credit risk on such liabilities are no longer recognized in profit or loss. IFRS 9 iseffective for annual periods beginning on or after January 1, 2018, however is available for earlyadoption. In addition, the own credit changes can be early applied in isolation without otherwisechanging the accounting for financial instruments. The Fund is in the process of assessing the impact ofIFRS 9 and has not yet determined when it will adopt the new standard.

4. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

The preparation of financial statements in conformity with IFRS requires the Manager to makejudgments, estimates and assumptions that affect the application of accounting policies and thereported amounts of assets, liabilities, income and expenses. Actual results may differ from theseestimates.



Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates arerecognized in the period in which the estimates are revised and in any future period affected.

Fair Value Measurement of Derivatives and Securities Not Quoted in an Active MarketThe Fund may hold financial instruments that are not quoted in active markets. Fair values of suchinstruments are determined using valuation techniques and may be determined using reputable pricingsources (such as pricing agencies) or indicative prices from market markers. Broker quotes as obtainedfrom the pricing sources may be indicative and not executable or binding.

5. MANAGEMENT OF FINANCIAL RISKS

The Fund is exposed to various financial risks, including market risk (consisting of currency risk,interest rate risk, and other price risk), and liquidity risk. The Fund’s overall risk managementprogramme seeks to minimize potentially adverse effects of those risks on the Fund’s financialperformance by employing experienced portfolio managers and by continuous monitoring of the Fund’ssecurities positions and markets. The Manager maintains a corporate governance structure thatoversees the Fund’s investment activities. The Fund may use derivative financial instruments tomitigate certain risk exposures and is currently engaged in a series of foreign exchange contracts asdescribed below.

Currency riskCurrency risk is the risk that the value of an investment will change due to fluctuations in foreignexchange rates.

The Fund’s net assets attributable to holders of redeemable units are measured in Canadian dollars andpayments to Unitholders are made in Canadian dollars. The Fund is exposed to currency risks as it mayhold assets or have liabilities denominated in currencies other than in Canadian dollars. As atDecember 31, 2014 and December 31, 2013, the Fund was exposed to currency risk as the value of anyassets or liabilities denominated in currencies other than the Canadian dollar will vary due to changesin foreign exchange rates.

The following tables summarize the Fund’s exposure to foreign currency as at December 31, 2014 andDecember 31, 2013:

*Other Net Assets includes borrowings of $139,071,594

December 31, 2014 Investments Cash

Other Net Assets/

(Liabilities)*

Derivative

Instruments Total Net Asset

$ $ $ $ $ %

U.S. Dollar 208,219,144 39,298 (125,772,520) − 82,485,922 23.21

Euro 52,348,285 615 504,939 − 52,853,839 14.87

British Pound 8,317,602 − − − 8,317,602 2.34

Australian Dollar 13,478,446 − 53,041 − 13,531,487 3.81

Hong Kong Dollar 17,502,018 − (1,099,385) − 16,402,633 4.61

Brazilian Real 4,212,048 − − − 4,212,048 1.18

Swiss Franc 11,187,448 − − − 11,187,448 3.15

Total 315,264,991 39,913 (126,313,925) - 188,990,979 53.17



*Other Net Assets includes borrowings of $127,854,880

As at December 31, 2014, had the Canadian dollar strengthened or weakened by 1% against each of theother currencies with all other variables remaining constant, the net assets of the Fund would havedecreased or increased by $1,889,910 (December 31, 2013 - $2,499,299). From time to time, between0% and 100% of the value of the Portfolio’s non-Canadian currency may be hedged back to the Canadiandollar.

Interest rate riskInterest rate risk arises from the possibility that changes in interest rates will affect future cash flowsor fair values of financial instruments.

The Fund is exposed to interest rate risk from its holdings of fixed-rate debt instruments, the values ofwhich fluctuate due to changes in prevailing levels of market interest rates. As at December 31, 2014,the Fund’s debt instruments’ remaining terms to maturity were as follows:

Interest rate risk of the Fund is currently mitigated by the relatively short duration and high creditspread of the high yield bonds and loans in the Portfolio. These characteristics make the Portfolio’ssensitivity to interest rate risk relatively less than what would be experienced by a portfolio withlonger duration investments that trade at tighter spreads to government-backed fixed incomesecurities. It would also be possible to hedge interest rate risk by shorting government-backed fixedincome securities or engaging in various interest rate derivatives. As at December 31, 2014 andDecember 31, 2013, the Fund had no such hedges in place.

At December 31, 2014, if the prevailing interest rates had risen or declined by 0.25%, assuming aparallel shift in the yield curve, with all other variables held constant, the Fund’s net assetsattributable to holders of redeemable units would have decreased or increased, respectively, byapproximately $384,592. The Fund’s sensitivity to interest rate changes was estimated using theweighted average duration of the bonds. In practice, the actual results may differ from this sensitivityanalysis and the differences could be material.

December 31, 2013 Investments Cash

Other Net Assets/

(Liabilities)*

Derivative

Instruments Total Net Asset

$ $ $ $ $ %

U.S. Dollar 206,581,115 13,247 (123,833,214) − 82,761,148 23.34

Euro 74,787,163 − (1,222,716) − 73,564,447 20.74

British Pound 16,353,747 − 296,743 − 16,650,490 4.70

Australian Dollar 8,587,775 − 125,520 − 8,713,295 2.46

Hong Kong Dollar 43,358,853 − − − 43,358,853 12.23

Brazilian Real 15,910,034 − − − 15,910,034 4.49

Swiss Franc 8,971,614 − − − 8,971,614 2.53

Total 374,550,301 13,247 (124,633,667) − 249,929,881 70.49

Debt Instruments $% of

Net Assets

Less than 1 year − −

1 to 3 years − −

3 to 5 years 8,858,218 2.49

Greater than 5 years 23,528,490 6.61

Total 32,386,708 9.10



The Fund’s exposure to interest rate risk at December 31, 2013 was not significant; therefore nosensitivity analysis was necessary.

Other price riskOther price risk is the risk that the value of financial instruments will fluctuate as a result of changes inmarket prices (other than those arising from interest rate risk or currency risk). Such changes may bethe result of factors affecting multiple instruments traded in a market, market segment or asset class.The Fund is exposed to other price risk of securities held in the Portfolio. The Fund may take outrightlong or short positions in any of its investments, which may include derivative instruments for purposesconsistent with its investment objectives and investment strategy and subject to its investmentrestrictions.

The Investment Manager seeks to mitigate this risk through careful selection of securities and otherfinancial instruments. As at December 31, 2014, had the market increased or decreased by 5% with allother variables remaining constant, the net assets of the Fund would have increased or decreased by$18,635,093 (December 31, 2013 - $21,431,258).

Credit risk

Credit risk is the risk of non-payment of scheduled interest and/or principal payments.

The Fund is exposed to several types of credit risks including the risk that one or more investments inthe Portfolio will decline in price, or fail to pay interest or principal when due, because the issuer ofthe security experiences a decline in its financial status. As at December 31, 2014, the maximumexposure to any one debt issuer in the Portfolio was $8,207,895 (December 31, 2013 - $0) representing2.31% (December 31, 2013 – 0.00%) of net assets attributable to holders of redeemable units.

The performance of the Fund is also subject to general economic and specific industry conditions thatcould impact the fair value of one or more debt securities in the Portfolio. Securities with lower ratingstend to be more sensitive to these kinds of risks.

As at December 31, 2014, the Fund was invested in debt securities with the following credit ratings:

* Or, if not rated by S&P, the comparable rating from Fitch Ratings Inc

The Manager seeks to mitigate the above credit risk through the careful selection of investments,through the employment of experienced portfolio managers and through continuous monitoring of theFund’s investments.

Another type of credit risk is exposure to the creditworthiness of the Fund’s trading counterparties. Allsecurities transactions executed by the Fund are settled upon delivery using approved brokers. The riskof payment default on securities is considered negligible, as delivery of securities sold is only madeonce the broker has received payment on behalf of the Fund. Payment is not made on a purchase untilthe securities have been received by the broker on behalf of the Fund. The trade will fail if eitherparty fails to meet its obligation.

Debt Instruments by S&P Rating*

% of Net

Assets Total $

BB 0.81 2,897,279

B 8.29 29,489,429

Total 9.10 32,386,708

December 31, 2014



The Fund may enter into forward foreign currency exchange contracts primarily to hedge againstforeign currency exchange rate risks on its non-Canadian dollar denominated investment securities. Inaddition to currency and market risk, forward foreign currency exchange contracts involve risks arisingfrom the possible inability of counterparties to meet the terms of their contracts from movement incurrency, security values, and interest rates. The Fund seeks to mitigate this risk through the carefulselection of its derivative counterparties.

The Fund’s exposure to credit rate risk at December 31, 2013 was not significant; therefore nosensitivity analysis was necessary.

Liquidity riskLiquidity risk is the risk that the Fund may not be able to settle or meet its obligation on time or at areasonable price.

The Fund has current financial liabilities outstanding, including but not limited to, margin loans andinterest payable on its margin loans, accounts payable and accrued liabilities. The Investment Managerseeks to mitigate this liquidity risk by ensuring that a reasonable portion of the Fund’s investmentstrade in active markets and can be sold readily. There can be no assurance that an adequate marketfor the investments will exist at all times, or that the prices at which the investments trade, accuratelyreflect their fair value. Low trading volumes of the investments could also make it difficult to liquidateholdings quickly.

As required by IFRS 7 – Financial Instruments, the Fund’s financial liabilities should be categorized intorelevant maturity groupings based on the remaining year as at December 31, 2014, December 31, 2013,and January 1, 2013 to the contractual maturity date. However, as all liabilities, including liabilitiesfor redeemable units tendered for redemption as of the applicable balance sheet date (of which therewere none as at December 31, 2014, December 31, 2013 and July 18, 2013), are due in less than oneyear, this analysis is not required in this instance. In accordance with the Fund’s policy, the InvestmentManager monitors the Fund’s overall liquidity risk on a continuous basis.

6. BORROWINGS

The Fund uses leverage to finance the purchase of certain investments. Leverage is restricted to 33% ofthe total assets for the Fund. Accordingly, at the time of borrowing, the maximum amount of leveragethat the Fund could employ is 1.50:1 (total long positions (including leveraged positions) divided by netassets of the Fund). Derivatives and shorting used solely for purposes of hedging are not included in theleverage threshold calculation. As at December 31, 2014, the Fund had employed leverage equal to24.6% of total assets (December 31, 2013 - $24.1%), equating to $139.0 million (December 31, 2013 -$127.9 million) of the total assets. The minimum and maximum amount of borrowings outstandingduring the twelve months ended December 31, 2014 was $77.6 million and $139.9 million, respectivelyand during the period from July 18, 2013 to December 31, 2013 was $0 and $127.9 million,respectively. The borrowings were used to grow the Fund’s investments and for working capital needs.Adding a controlled amount of leverage to the Fund is consistent with the Fund’s objectives.

7. FAIR VALUE OF FINANCIAL INSTRUMENTS

The Fund uses a three-tier hierarchy as a framework for disclosing fair value which reflects thesignificance of the inputs used in making the measurements. The hierarchy has the following levels:

Level 1 - quoted prices in an active market (Level 1—unadjusted inputs); Level 2 - inputs other than quoted prices (Level 2—directly or indirectly derived from

observational market data); and Level 3 - inputs not based on observable market data (Level 3—unobservable inputs).



In addition to the above disclosure requirements, IFRS 7 – Financial Instruments: Disclosures, requiresdisclosure of significant transfers between Levels 1 and 2 since the prior reporting period, as well asreconciliation of Level 3 assets, disclosing separately changes during the reporting period attributableto:

(i) total gains or losses recognized in net income, and a description of where they arepresented in the income statement,

(ii) purchases, sales, issues and settlements, and(iii) transfers into or out of Level 3 and the reasons for those transfers. Any significant transfers

between Level 1 and Level 2 are disclosed. Further, for fair value measurements in Level 3,if changing one or more type of the inputs to reasonably possible alternative assumptionswould change fair value significantly, the entity shall state this fact and disclose both theeffect of those changes and how the effect was calculated.

The following table provides a summary of the inputs used as at December 31, 2014 and December 31,2013 in valuing the Fund’s investments carried at fair value:

The carrying values of cash, subscriptions receivable, interest receivable, payable for investmentspurchased, redemptions payable, distributions payable, accrued expenses and the Funds’ obligationsfor Net Assets attributable to holders of redeemable units approximates their fair values due to theirshort-term nature.

During the Period, there were no Level 3 assets held by the Fund, nor were there significant transfersbetween levels.

The following provides details of the categorization in the fair value hierarchy by asset classes:

a) EquitiesThe Fund’s equity positions are classified as Level 1 when the security is actively traded and a reliableprice is observable.

As at December 31, 2014 Level 1 Level 2 Level 3 Total

$ $ $ $

Investments, at fair value:

Common Stock 402,270,129 − − 402,270,129

Fixed Income

Corporate Bonds − 32,386,708 − 32,386,708

Common Stock Sold Short (61,954,972) − − (61,954,972)

Total Investments, at fair value 340,315,157 32,386,708 − 372,701,865

As at December 31, 2013 Level 1 Level 2 Level 3 Total

$ $ $ $

Investments, at fair value:

Common Stock 467,414,055 − − 467,414,055

Common Stock Sold Short (38,038,346) − − (38,038,346)

Total Investments, at fair value 429,375,709 − − 429,375,709



b) Fixed incomeFixed income includes primarily corporate bonds, and term loans which are valued at the bid priceprovided by recognized investment dealers. These prices are observable and therefore the Funds’corporate bonds and term loans have been classified as Level 2.

c) Derivative assets and liabilitiesDerivative assets and liabilities consist of forward currency contracts which are valued based primarilyon the contract notional amount, the difference between the contract rate and the forward marketrate for the same currency, interest rates and credit spreads. Contracts for which counterparty creditspreads are observable and reliable, or for which credit-related inputs are determined not to besignificant to fair value are classified as Level 2.

8. INCOME TAXES

The Fund qualifies as a mutual fund trust under the Income Tax Act (Canada) and, accordingly, is notsubject to tax on that portion of its income, including net realized capital gains for its taxation yearthat is paid or payable to Unitholders. Income tax on net realized capital gains not paid or payable willbe generally recoverable by virtue of refunding provisions contained in the Income Tax Act (Canada)and provincial income tax legislation, as redemptions occur. It is the intention of the Fund to pay allnet taxable income and sufficient net taxable gains so that the Fund will not be subject to incometaxes. The Fund may distribute more than it earns, in which case the excess distribution is a return ofcapital and is not taxable to Unitholders.

No provision for income taxes has been recorded in the accompanying financial statements as allincome and net realized capital gains are to be distributed to the Unitholders. Capital losses realized inexcess of those utilized to offset realized capital gains in the current taxation year can be carriedforward indefinitely and may be applied against future years’ capital gains. Non-capital losses may becarried forward for a period of 20 years and applied against future years’ taxable income. As atDecember 31, 2014, the Fund had no capital losses and had no non-capital losses.

9. EXPENSES OF THE FUND

An annual management fee equal to 1.25% per annum of the net asset value of the Fund, calculateddaily and payable monthly in arrears plus applicable taxes, is paid to the Manager. The managementfee totalled $5,367,873 and $2,142,274 for the twelve months ended December 31, 2014 and for theperiod July 18, 2013 to December 31, 2013.

The Fund pays for all ordinary expenses incurred in connection with its operation and administration,including, but not limited to, all costs of Portfolio transactions, fees payable to the Manager,administrator and other third party service providers, custodial fees, legal, accounting, audit andvaluation fees, other administrative expenses and any extraordinary expenses that the Fund may incur.

The Manager is also eligible in each fiscal year to receive from the Fund a performance fee (the"Performance Fee") that shall be calculated and accrued monthly and be paid annually, if applicable.The Performance Fee for a given year will, subject to some exceptions regarding redemptions andissuances of Units, be equal to 20% of the amount by which the sum of the net asset value per Unit(calculated without taking into account any Performance Fee) plus distributions paid on such Unitsduring the year exceeds 106.0% of the Threshold Amount plus applicable taxes. The Threshold Amountwill be the greater of: (i) $10.00; and (ii) the net asset value per Unit at the end of the last fiscal yearin which a Performance Fee was paid (after payment of such Performance Fee). Please refer to theFund’s Prospectus for additional information on the Performance Fee. The Performance Fee totalled



$395,274 and $3,388,265, for the twelve months ended December 31, 2014 and for the period July 18,2013 to December 31, 2013, respectively.

10. RELATED PARTY DISCLOSURE

The Manager and the Investment Manager are wholly-owned subsidiaries of Brookfield AssetManagement Inc. (“Brookfield”) and the Investment Manager manages the investment and tradingactivities of the Fund pursuant to a portfolio management agreement. Due to Brookfield’s ability tocontrol the Fund, Brookfield, and its affiliates over which it has the ability to exercise control orsignificant influence, are related parties of the Fund by virtue of common control or commonsignificant influence.

Transactions with related parties, including investment transactions, are conducted in the normalcourse of operations and are recorded at exchange amounts, which are equivalent to normal marketterms. Please refer to Note 9, which outlines the fees paid to the Manager by the Fund.

As at December 31, 2014, Brookfield and its affiliates did not own any interest in the Fund. There wereno other transactions conducted with related parties during the twelve months ended December 31,2014 or the period July 18 to December 31, 2013.

11. REDEEMABLE UNITS AND NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS

The Fund is authorized to issue an unlimited number of redeemable and transferable Units of a singleclass, each of which represents an equal, undivided interest in the net assets of the Fund.

The Declaration of Trust provides that the Fund may not issue additional Units except: (i) for netproceeds not less than 100% of the net asset value per Unit calculated as of the close of business on thebusiness day immediately prior to the pricing of such offering; (ii) by way of Unit distributions; or (iii)with the approval of Unitholders.

Commencing in September 2015 to and including September 2017, Units may be surrendered annuallyfor redemption during the period from August 15th until 5:00 p.m. (Toronto time) on the 10th businessday in September of each year (the “Notice Period”) if and only if the annual redemption condition(the “Annual Redemption Condition”), described below, has been met in such year. Units properlysurrendered for redemption during the Notice Period will be redeemed on the last business day inSeptember of each year and the Unitholder will receive a redemption price per Unit equal to 100% ofthe net asset value per Unit as determined on the Annual Redemption Date less any costs associatedwith the redemption.

The Annual Redemption Condition states that Units may only be redeemed on an Annual RedemptionDate if the simple average of the Net Asset Values of the Units on each business day occurring in themonth of August preceding the Annual Redemption Date is less than $10.00. Notwithstanding theAnnual Redemption Condition, Units may be redeemed at the option of Unitholders on the last businessday of September 2018 and on the last business day of September each year thereafter.

Changes in the number of issued redeemable units outstanding for the Fund for the Period consisted ofthe following:



Capital managementUnits issued and outstanding represent the capital for the Fund. The Fund has no restrictions or specificcapital requirements and is authorized to issue an unlimited number of transferable Units. Restrictionsand specific requirements on the redemption of Units are described above.

The Statement of Changes in Net Assets and the above table outline the relevant changes of the Unitsfor the Period. The Fund manages its capital in accordance with its investment objectives andstrategies and the risk management practices outlined in Note 5 while maintaining sufficient liquidityto meet Unitholder redemptions.

12. DISTRIBUTIONS

In accordance with the Fund’s investment objective to provide Unitholders with quarterly cashdistributions, the Fund intends to make quarterly distributions to Unitholders of record on the lastbusiness day of March, June, September and December (each, a “Distribution Record Date”).Distributions will be paid on a business day designated by the Manager that will be no later than the15th business day of the month following the Distribution Record Date. The Fund has adopted adistribution reinvestment plan which shall provide that all quarterly cash distributions made by theFund shall, at the election of each Unitholder, be automatically reinvested in additional Units on eachUnitholder’s behalf in accordance with the terms of the plan. The initial quarterly distributions aretargeted to be $0.15 per Unit ($0.60 per annum representing an annual cash distribution of 6.0% basedon the $10.00 per Unit issue price). During the twelve months ended, the Fund declared four quarterlycash distributions of $0.15 per Unit each. Distributions payable as of December 31, 2014 totalled$5,143,553 (December 31, 2013; $5,160,000). The distribution was subsequently paid to Unitholders inearly January 2015. The Fund does not have a fixed quarterly distribution.

In any year after such distributions, there would otherwise remain in the Fund additional operatingprofit or net realized capital gains, the Fund intends to make, on or before December 31 of that year, aspecial distribution of such portion of the remaining net income and net realized capital gains as isnecessary to ensure the Fund will not be liable for income tax under the Income Tax Act (Canada).

13. FINANCIAL INSTRUMENTS BY CATEGORY

The following table presents the carrying amounts of the Fund's financial assets by category as atDecember 31, 2014 and December 31, 2013. All of the Fund's financial liabilities, other than its netassets attributable to holders of redeemable units:

For the year ended

December 31, 2014

For the period July 18, 2013

to December 31, 2013

Beginning balance 34,400,000 −

Subscription of Units − 34,400,000

Redemption of Units (109,650) −

Number of Units outstanding, end of period 34,290,350 34,400,000



At Amortized Cost

Held for

Trading

Designated

at InceptionTotal Total

$ $ $ $

Financial assets at fair value through profit or loss − 434,656,837 434,656,837 −

Cash and cash equivalents − − − 115,025,296

Accrued investment income − − − 1,452,269

Due from broker − − − 13,758,499

Total − 434,656,837 434,656,837 130,236,064

Held for

Trading

Designated


$ $ $ $

Financial liabilities at fair value through profit or loss − 61,954,972 61,954,972 −

Due to broker − − − 2,257,580

Distributions payable − − − 5,143,553

Margin payable − − − 139,071,594

Accounts payable and accrued liabilities − − − 1,012,851

Total − 61,954,972 61,954,972 147,485,578

At FVTPL

Financial Assets as at December 31, 2014

Financial Liabilities as at December 31, 2014

At Amortized Cost

Held for

Trading

Designated


$ $ $ $

Financial assets at fair value through profit or loss − 467,414,055 467,414,055 −

Cash and cash equivalents − − − 59,293,358

Accrued investment income − − − 1,091,189

Due from broker − − − 2,011,862

Accounts receivable − − − 272,782

Total − 467,414,055 467,414,055 62,669,191

Held for

Trading

Designated


$ $ $ $

Financial liabilities at fair value through profit or loss − 38,038,346 38,038,346 −

Distributions payable − − − 5,160,000

Margin payable − − − 127,854,880

Dividends payable − − − 4,622

Accounts payable and accrued liabilities − − − 4,382,758

Total − 38,038,346 38,038,346 137,402,260

Financial Liabilities as at December 31, 2013

At FVTPL

Financial Assets as at December 31, 2013



The following table presents the net gains on financial instruments at FVTPL by category for theperiods ended December 31, 2014 and 2013:

14. TRANSITION TO IFRS

The effects of the Fund’s transition to IFRS are summarized in this note as follows:

Transition electionsThe only voluntary exemption adopted by the Fund upon transition was the ability to designate afinancial asset or financial liability at fair value through profit and loss upon transition to IFRS. Allfinancial assets designated at FVTPL upon transition were previously carried at fair value underCanadian GAAP as required by Accounting Guideline 18, Investment Companies.

Fund reconciliation of net assets attributable to holders of redeemable units and comprehensiveincome as previously reported under Canadian GAAP to IFRS

Classification of redeemable units issued by the FundUnder Canadian GAAP, the Fund accounted for its redeemable units as equity. Under IFRS,International Accounting Standard, IAS 32 requires that units of an entity which include a contractualobligation for the issuer to repurchase or redeem them for cash or another financial asset be classifiedas financial liability. The characteristics of the units are not identical and therefore do not meet thecriteria in IAS 32 for classification as equity. As such the Fund’s redeemable units, have beenreclassified as financial liabilities on transition to IFRS.

Revaluation of investments at fair value through profit or lossUnder Canadian GAAP, the Fund measured the fair value of its investments in accordance with Section3855, Financial Instruments – Recognition and Measurement, which required the use of bid prices forlong positions and ask prices for short positions; to the extent such prices were available. Under IFRS,the fund measures the fair values of its investments using the guidance in IFRS 13, Fair ValueMeasurement (“IFRS 13”), which requires that if an asset or a liability has a bid price and an ask price,

Net Gains Net Gains

2014 2013

Category $ $

Financial assets and liabilities at FVTPL:

Held for Trading 2,153,597 −

Designated at inception 30,093,811 42,976,139

Total financial assets and liabilities at FVTPL 32,247,408 42,976,139

Net assets attributable to holders of redeemable units December 31, 2013

Net assets attributable to holders of redeemable units as reported under Canadian GAAP 353,892,088

Revaluation of investments at FVTPL 750,552

Total net assets attributable to holders of redeemable units 354,642,640

Year ended

Comprehensive Income December 31, 2013

Comprehensive income as reported under Canadian GAAP 39,072,088

Revaluation of investments at FVTPL 750,552

Total comprehensive income 39,822,640



then its fair value is to be based on a price within the bid-ask spread that is most representative of fairvalue. It also allows the use of mid-market pricing or other pricing conventions that are used by marketparticipants as a practical expedient for fair value measurements within a bid-ask spread. As a result,upon adoption of IFRS an adjustment was recognized to increase the carrying amount of the Fund’sinvestment by $750,552 as at December 31, 2013. The impact of this adjustment was to increase thefund’s Net Assets attributable to holders of redeemable units by $750,552 for the year ended December31, 2013.

Reclassification adjustmentsIn addition to the measurement adjustments noted above, the Master Fund reclassified certain amountsupon transition in order to conform to its financial statement presentation under IFRS. Withholdingtaxes of $1,766,278 for the period ended December 31, 2013 which were previously netted againstdividend income under Canadian GAAP, have been reclassified and presented separately as expenseunder IFRS.

Statement of cash flowsAll Funds are required under IFRS to provide cash flow statements. Under Canadian GAAP most Fundswere exempt from this requirement.

15. EVENTS AFTER STATEMENT OF FINANCIAL POSITION DATE

Management has evaluated subsequent events in the preparation of the Fund’s financial statementsand has determined that other than the items listed herein, there are no events that requirerecognition or disclosure in the annual financial statements.



FUND INFORMATION

MANAGER AND TRUSTEE

Brookfield Investment Management (Canada) Inc.Gail CecilDirector, President & Chief Executive Officer

Jonathan TyrasDirector, Chief Financial Officer, Treasurer,and Secretary

Craig NobleDirector

INDEPENDENT REVIEW COMMITTEE

John P. Barratt (Chair)Corporate Director

James L. R. KellyPresidentEarth Power Inc.

Frank LochanCorporate Director

CONTACT INFORMATION

Brookfield Global Infrastructure Securities Income Fund welcomes inquiries from Unitholders, analysts,media representatives or other interested parties.

Investment ManagerBrookfield Investment Management Inc.Brookfield Place250 Vesey StreetNew York, New York10281-1023t. 855.777.8001w. www.brookfieldim.com

Transfer Agent and RegistrarUnitholder inquiries relating to distributions,address changes and Unitholder accountinformation should be directed to the Fund’sTransfer Agent:

Valiant Trust Company710, 130 King Street WestToronto, Ontario M5X 1A9t. 866.313.1872 (toll-free North America)f. 855.375.6916 (toll-free North America)

International 416.360.1646e. [email protected]. www.valianttrust.com

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