Partners Value Investments Inc. Announces 2023 Annual Results

TORONTO, March 28, 2024 (Globe Newswire) — Partners Value Investments Inc. (the “Company”, TSX: PVF.WT, PVF.PR.V) today announced its financial results for the year ended December 31, 2023. The results have been announced. Amounts are stated in US dollars.

The Company recorded a net loss of $333 million for the year ended December 31, 2023, compared to net income of $1.9 billion in the prior year. The decrease was primarily due to the absence of a one-time special distribution received from Brookfield Corporation (the “Company”) in the prior year, current revaluation losses related to transferable stock and stock acquisition rights obligations, and a decrease in overseas investment. Exchange gains and tax recovery compared to the previous year. Our revocable common stock is classified as a liability due to its cash withdrawal feature. Because exchangeable shares are recognized at fair value based on the estimated value of the Partnership's equity LP, remeasurement gains or losses in a given period depend on each increase or decrease in the unit price of Partners Value Investments LP (the “Partnership”). Masu. unit. During the year, partnership unit costs increased by $4.96 compared to a decrease of $8.09 the previous year. Financial results reflect the impact of the reorganization completed on November 24, 2023.

Excluding remeasured gains on revocable stock and warrant liability and dividends paid on revocable stock, our adjusted earnings for the year ended December 31, 2023 were $27 million, compared with the prior year period. Post-event profit was $121 million. Adjusted profit for the year decreased due to lower foreign currency gains and tax recovery.

As of December 31, 2023, the market price of Brookfield Corporation (NYSE/TSX: BN) and Brookfield Asset Management Limited (the “Manager”, NYSE/TSX: BAM) stock was $40.12 and $40.17, respectively. . As of March 27, 2024, the market prices of BN and BAM shares were $41.58 and $41.80, respectively.

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Consolidated income statement

Financial overview

Our principal investments are an interest in 121 million shares of our Class A limited voting stock and approximately 31 million shares of our manager's Class A limited voting stock. This represents approximately 8% of the Company's interest and approximately 8% of the Manager's interest as of December 31, 2023. Additionally, we have a diversified investment portfolio of marketable securities and private fund interests.

The information in the following table has been extracted from our consolidated statements of financial position.

Consolidated statement of financial position

For more information, please contact IR@pvii.ca or 416-643-7621.

Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions that predict or indicate future events, trends or prospects, and that do not relate to historical matters, identify forward-looking information. .

Although the Company believes that the anticipated future results, performance and achievements expressed or implied by such forward-looking statements and information are based on reasonable assumptions and expectations, Readers should not place undue reliance on forward-looking statements and information because they contain known information. unknown risks, uncertainties and other factors. Many of these are beyond our control and may cause our actual results, performance or achievements to differ materially from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements. There is a gender. And information.

Factors that could cause actual results to differ materially from those intended or implied by forward-looking statements and information include Brookfield Corporation's financial performance, general economic, political and including, but not limited to, the effects of market factors or unforeseen consequences; movements in financial markets, including changes in interest rates and foreign exchange rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions, including disposition; changes in the accounting policies and methods used to report financial condition, including uncertainties related to critical accounting assumptions and estimates; the impact of adopting future accounting changes; business competition. operational and reputational risks; technological change. changes in government regulations and laws; Changes in tax laws. risks associated with the use of financial leverage; Catastrophic events such as earthquakes and hurricanes. the potential impact of other developments, including international conflicts and acts of terrorism; and other risks and factors detailed from time to time in the Company's filings with Canadian securities regulators.

The Company cautions that the above list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements and information, investors and others should carefully consider the foregoing factors, other uncertainties and potential events. Except as required by law, we do not publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or otherwise. We are not obligated to do so.