Brookfield renews normal course issuer bid for 21 preferred series

Chicago, Aug. 17 – Brookfield Office Properties Inc. has received approval from the Toronto Stock Exchange for the renewal of its normal course issuer bid to purchase up to 10% of the public float of each series of the company’s outstanding class A preference shares that are listed on the Toronto Stock Exchange, according to a press release.

The normal course issuer bid will start Aug. 20 and run through Aug. 19, 2022.

Brookfield will pay the market price at the time of acquisition for any preferred shares purchased.

The issuer bid covers the following preferreds:

• Up to 1,022,018 of the 10,457,685 outstanding series 2 preferred shares (BAMPrB) with a limit of 3,449 shares per day;

• Up to 398,391 of the 3,995,910 outstanding series 4 preferred shares (BAMPrC) with a limit of 2,032 shares per day;

• Up to 247,519 of the 2,476,185 outstanding series 8 preferred shares (BAMPrE) with a limit of 1,000 shares per day;

• Up to 202,288 of the 5,515,981 outstanding series 9 preferred shares (BAMPrG) with a limit of 1,000 shares per day;

• Up to 879,260 of the 9,640,096 outstanding series 13 preferred shares (BAMPrK) with a limit of 5,337 shares per day;

• Up to 784,020 of the 7,840,204 outstanding series 17 preferred shares (BAMPrM) with a limit of 1,967 shares per day;

• Up to 768,109 of the 7,866,749 outstanding series 18 preferred shares (BAMPrN) with a limit of 1,154 shares per day;

• Up to 1,080,803 of the 10,808,027 outstanding series 24 preferred shares (BAMPrR) with a limit of 3,326 shares per day;

• Up to 977,093 of the 9,770,928 outstanding series 26 preferred shares (BAMPrT) with a limit of 2,899 shares per day;

• Up to 923,393 of the 9,233,927 outstanding series 28 preferred shares (BAMPrX) with a limit of 4,483 shares per day;

• Up to 978,709 of the 9,787,090 outstanding series 30 preferred shares (BAMPrZ) with a limit of 1,785 shares per day;

• Up to 1,175,030 of the 11,750,299 outstanding series 32 preferred shares (BAMPfA) with a limit of 2,853 shares per day;

• Up to 987,674 of the 9,876,735 outstanding series 34 preferred shares (BAMPfB) with a limit of 1,574 shares per day;

• Up to 784,291 of the 7,842,909 outstanding series 36 preferred shares (BAMPfC) with a limit of 1,850 shares per day;

• Up to 783,009 of the 7,830,091 outstanding series 37 preferred shares (BAMPfD) with a limit of 2,256 shares per day;

• Up to 790,613 of the 7,906,132 outstanding series 38 preferred shares (BAMPfE) with a limit of 1,554 shares per day;

• Up to 1,184,103 of the 11,841,025 outstanding series 40 preferred shares (BAMPfF) with a limit of 1,699 shares per day;

• Up to 1,188,750 of the 11,887,500 outstanding series 42 preferred shares (BAMPfG) with a limit of 2,309 shares per day;

• Up to 983,193 of the 9,831,929 outstanding series 44 preferred shares (BAMPfH) with a limit of 1,588 shares per day;

• Up to 1,174,080 of the 11,740,797 outstanding series 46 preferred shares (BAMPfI) with a limit of 2,491 shares per day; and

• Up to 1,188,597 of the 11,885,972 outstanding series 48 preferred shares (BAMPfJ) with a limit of 3,104 shares per day.

Brookfield has not made any purchases of the preferred shares under its normal course issuer bid, which started Aug. 20, 2020 and expires on Aug. 19.

Brookfield will enter into an automatic share purchase plan on or around Sept. 20 in relation to the normal course issuer bid. Within certain parameters, the shares will be automatically repurchased.

Toronto-based Brookfield Office Properties is a subsidiary of Brookfield Property Partners that owns and operates office, retail, multifamily, industrial, hotel and lease assets.

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