BROOKFIELD Corp /ON/

EQUITY

The significant variances in common equity and non-controlling interests are discussed below. Preferred equity is discussed in Part 4 – Capitalization and Liquidity.

The following table presents the major contributors to the year-over-year variances for common equity:

Common equity increased by $200 million to $41.9 billion during the year, primarily due to:

•net income attributable to common shareholders of $641 million;

•other comprehensive income of $766 million, primarily related to revaluation gains on property, plant and equipment within our Renewable Power and Transition and Infrastructure segments, and unrealized mark-to-market movements on our investment portfolio in our wealth solutions business due to a decrease in interest rates, partially offset by foreign currency translation; and

•ownership changes and other of $396 million primarily related to a gain on the sale of a portion of our interest in BAM, which was contributed to our Wealth Solutions business to support the acquisition of AEL, partially offset by a reduction in our ownership in BBU following the transfer of a partial interest in this business to our Wealth Solutions business in November 2024; partially offset by

•distributions of $663 million to shareholders as common and preferred share dividends; and

•share repurchases, net of issuances, of $940 million, mainly related to the repurchase of 23.6 million Class A Limited Voting Shares (“Class A shares”) during the year.

2024 ANNUAL REPORT 33