Partners Value Investments LP Announces 2021 Second

2021-08-26

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TORONTO, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Partners Value Investments L.P. (the “Partnership”, TSX: PVF.UN TSX:PVF.PR.U) announced today its financial results for the three months ended June 30, 2021. All amounts are stated in US dollars. The Partnership generated net income of $28.5 million for the quarter ended June 30, 2021 compared to a net loss of $11 million in the prior year quarter. Net income was higher in the current quarter as dividend income increased due to the receipt of Brookfield Asset Management Reinsurance Partners Ltd. valued at $46 million as a dividend-in-kind from Brookfield Asset Management. The market price of a Brookfield share was $50.98 per share at June 30, 2021 compared to $41.27 at December 31, 2020. Consolidated Statements of Operations Change in Net Book Value The information in the following table shows the changes in net book value: Financial Profile The Partnership’s principal investment is its interest in approximately 130 million Class A Limited Voting Shares (“Brookfield shares”) of Brookfield Asset Management Inc. This represents a 9% fully diluted interest as at June 30, 2021. In addition, the Company owns a diversified investment portfolio of marketable securities. The information in the following table has been extracted from the Partnership’s Statement of Financial Position: Appointment of Chief Financial Officer Partners Value Investments L.P. is pleased to announce the appointment of Rachel Powell as Chief Financial Officer of the Partnership, effective August 19, 2021. For further information, contact Investor Relations at 416-956-5142. 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 which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information. Forward-looking information in this news release includes statements with regard to the Company’s potential future income taxes. Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements and information include, but are not limited to: the financial performance of Brookfield Asset Management Inc., the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws, catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada. The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

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