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Investing - Brookfield Asset Management

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Cash Flow Stability – Office<br />

(millions) 2010 2009 2008<br />

Net operating income 1 $ 1,053 $ 1,020 $ 997<br />

% occupancy 95% 95% 97%<br />

Average net rent (psf) $2771 27.71 $2684 26.84 $2342<br />

23.42<br />

1<br />

Normalized for constant currency exchange rates<br />

• 7-year average lease term<br />

• Occupancy over past 10 years<br />

– Max 97%<br />

– Min 93%<br />

– Avg 96%<br />

• In-place rents at 20% discount to market rents<br />

41<br />

| <strong>Brookfield</strong> <strong>Asset</strong> <strong>Management</strong> Inc.

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