Early Warning Release

Rhea-AI Summary

Brookfield Asset Management (TSX: BAM.A; NYSE: BAM) announced the acquisition of 333,100 common shares of TransAlta Corporation for approximately $3.5 million, raising its ownership from 12.3% to 12.4% post-transaction. Each share was purchased at $10.56. Brookfield's commitment to TransAlta reflects its belief in the attractiveness of the investment opportunity.

Brookfield manages approximately $575 billion in assets across various sectors including real estate and renewable power.

Positive

• Acquisition of an additional 333,100 shares of TransAlta, increasing Brookfield's stake from 12.3% to 12.4%.
• Transaction valued at approximately $3.5 million, indicating confidence in TransAlta's prospects.

Negative

• None.

All amounts in Canadian dollars unless otherwise stated.

TORONTO, Jan. 08, 2021 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A; NYSE: BAM) reports that, through its affiliates, Brookfield has acquired, in aggregate, 333,100 common shares (the “Common Shares”) in the capital of TransAlta Corporation (“TransAlta”) on the Toronto Stock Exchange in open market purchases for aggregate cash consideration of approximately $3,517,536, at a price of $10.56 per Common Share (the “Transaction”).

Prior to giving effect to the Transaction, Brookfield owned or had control over an aggregate of 33,512,585 Common Shares representing approximately 12.3% of the issued and outstanding Common Shares, calculated on an undiluted basis. Following the Transaction, Brookfield owned or had control over an aggregate of 33,845,685 Common Shares, representing approximately 12.4% of the issued and outstanding Common Shares, calculated on an undiluted basis, an increase of approximately 0.1%.

In accordance with National Instrument 62-103, an Early Warning Report with additional information in respect of the foregoing matters will be filed by Brookfield in respect of the Transaction. A copy of such report may be obtained from the SEDAR profile of TransAlta at www.sedar.com.

Brookfield believes that TransAlta’s Common Shares represent an attractive investment opportunity.

TransAlta’s head office is located at 110 - 12th Avenue S.W., Calgary, Alberta, Canada. T2R 0G7.

Brookfield Asset Management Inc. is a leading global alternative asset manager with approximately US$575 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbol BAM and BAM.A respectively.

For more information, please visit our website at www.brookfield.com or contact:

Media:	Investor Relations
Claire Holland	Linda Northwood
Vice President, Branding & Communications	Director, Investor Relations
Tel: (416) 369-8236	Tel: (416) 359-8647
Email: claire.holland@brookfield.com	Email: linda.northwood@brookfield.com

FAQ

What did Brookfield Asset Management announce regarding TransAlta shares on January 8, 2021?

Brookfield Asset Management announced the acquisition of 333,100 common shares of TransAlta Corporation for about $3.5 million, increasing their stake from 12.3% to 12.4%.

How much did Brookfield pay for the common shares of TransAlta?

Brookfield paid approximately $3,517,536 for the 333,100 common shares of TransAlta.

What percentage of TransAlta does Brookfield own after the latest acquisition?

After the acquisition, Brookfield owns approximately 12.4% of TransAlta's common shares.

What is the significance of Brookfield's acquisition of TransAlta shares?

Brookfield's acquisition reflects its belief in TransAlta as an attractive investment opportunity.

What is the stock symbol for Brookfield Asset Management?

The stock symbol for Brookfield Asset Management is BAM for the NYSE and BAM.A for the TSX.