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Investing - Brookfield Asset Management

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Cash Flow Stability – Infrastructure<br />

Q2<br />

Q1<br />

Q4<br />

(millions) 2011 2011 2010<br />

Net operating income 1<br />

Utilities $ 117 $ 113 $ 106<br />

Transport and energy 62 71 54<br />

Total $ 179 $ 184 $ 160<br />

1<br />

Normalized for constant currency exchange rates<br />

• 80% of NOI governed by regulatory regime or long-term contracts<br />

• Increasing stability through additional take-or-pay contracts<br />

• Regulatory rate reviews provide real return step-ups<br />

43<br />

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

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