The Alts Allocator

Disclosures

Any analysis or information presented is intended for financial professional use only and not for use with individual investors.

Any analysis or information presented is intended for illustrative purposes only and should not be relied upon as a forecast, prediction, projection, guarantee, research, recommendation or advice of any kind, including investment, tax, accounting or legal advice. Nothing herein is intended to be a recommendation of any specific security or investment strategy or to meet the investment objectives or needs of any specific investor. Any decision based upon the output and information contained on this Alts Allocator are the sole responsibility of the user.

Portfolio analysis: sample portfolios are hypothetical, have been provided for illustrative purposes only, and do not represent all possible investment objectives.

Brookfield commissioned CoreData Research to conduct separate online surveys of 300 financial professionals with an average practice AUM of US $633 million in the U.S. and Canada and 625 high-net-worth investors with at least US $2.5 million in household investable assets in the U.S., Canada, Hong Kong, Singapore and Taiwan between April and June 2024. The results were published under the title The Alts Institute’s Alternative Investing Survey.

The survey identified three distinct high-net-worth investor profiles, each offering insight into their openness and readiness to allocate to alternative investments. The Traditionalist cohort indicated comfort with an allocation of up to 10% if recommended by their advisor. The Emerging Adopter cohort expressed comfort with an allocation of up to 20%. The Alts Champion cohort reported an average allocation of 23%, with the majority planning to increase this exposure. For illustrative purposes, we have highlighted Alts Champions with a 30% allocation to alternatives.

The core four alternative allocations are equally allocated to private equity (as represented by the Preqin Private Equity Index), private credit (Preqin Private Debt Index), private infrastructure (Preqin Infrastructure Index) and private real estate (Preqin Real Estate Index). Please see the index definitions below for additional information. Diversification does not guarantee a profit or protect against loss. The information does not represent returns of a fund. An investor cannot invest in an index. Securities indices are unmanaged and are not subject to fees and expenses typically associated with managed accounts or investment funds. Index results assume the reinvestment of all dividends and capital gains.

^1. For illustrative purposes only.

^2. Performance information generated by the Alts Allocator (which is powered by iCapital Architect) regarding the historical performance of various investment outcomes is hypothetical in nature, does not reflect actual investment results, and is not intended to predict the performance of the portfolio being analyzed and is not a guarantee of future results. The Alts Allocator model outcomes are based on user selected allocations to alternative investments over pre-determined time periods, applying return and volatility assumptions that are derived from third-party indices as of the dates shown, and may vary with each use and over time. Performance information is premised on certain assumptions and has certain inherent limitations, as described herein. The Alts Allocator does not take into account your particular investment objectives, financial situation, risk tolerance, or needs. Decisions should be based on your own evaluation and, where appropriate, consultation with your professional advisers. The Alts Allocator employs simplifying assumptions and statistical models that cannot fully capture market conditions, liquidity constraints, valuation lags, leverage, derivative exposures, concentration risks, operational risks, or the impact of extreme or "tail" events. Because of the incorporation of proxy performance, among other things, the estimates shown may differ materially from actual investments. Hypothetical performance results have certain inherent limitations and does not represent the impact that material economic and market factors might have had on actual decision-making. Simulated investment performance in general are also subject to the fact that they are designed with the benefit of hindsight. No representation or warranty is made that any portfolio, allocation, or strategy will achieve results comparable to those shown, or that any losses will be avoided. Past performance is not indicative of, and does not guarantee, future results.

Historical performance available on the site is based on third-party indices, as described in "Proxies Disclosures" below. Proxy performance consists of the performance of indices that are intended to be representative of an actual investment in the asset class being analyzed, however, the proxy assets may not be representative of the asset class or product sector as a whole, or any particular financial instrument. Proxy performance also does not reflect any fees and expenses of an actual financial instrument. THIS HISTORICAL INDEX PERFORMANCE IS NOT ACTUAL PERFORMANCE OF ANY FINANCIAL INSTRUMENT; IT IS PROXY PERFORMANCE, AND THEREFORE IT MAY DIFFER MATERIALLY FROM ACTUAL PERFORMANCE.

The proxy instruments available on the site are subject to change in the discretion of iCapital Advisors LLC, and our affiliates and subsidiaries (collectively, "iCapital") and/or Brookfield.

Proxy performance has many inherent limitations, and no representation is being made that any investment strategy has, will or is likely to achieve returns similar to proxy performance. Numerous factors, such as the use of assumptions and historical market returns and data, make calculations and analysis uncertain, and there are frequently sharp differences between hypothetical proxy performance results and the actual results achieved by any particular investment program. One of the limitations of hypothetical performance results generally (including proxy performance) is that they are generally prepared with the benefit of hindsight or may otherwise reflect a hindsight bias. In addition, hypothetical performance does not involve actual financial risk or investment decisions, and no hypothetical investment record can completely account for the impact of actual financial risk in actual investments, such as the ability to withstand losses or adhere to a particular investment program in spite of losses, which can adversely affect actual investment results. There are numerous other factors related to the markets in general or to the implementation of any specific investment program in particular which cannot be fully accounted for in the use of proxy performance results—all of which can adversely affect actual investment results, and none of which are accounted for in the charts or their resulting data.

The proxy assets may not be representative of the asset class or product sector as a whole, or any particular financial instrument.

Proxies Disclosures

The site provides users with the ability to analyze a portfolio of "Traditional Proxies" (based on indices provided by Bloomberg) and "Alt Proxies" (based on alternative benchmarks powered by Preqin), powered by iCapital Architect. A portfolio for analysis may include the following proxies from the site database.

The quoted indexes within this publication are unmanaged, passive buy-and-hold strategies, and cannot be purchased directly by investors. Index performance is shown for illustrative purposes only and does not predict, depict or guarantee the performance of any investment. There may be material factors relevant to any such comparison, such as differences in risk/return profiles, volatility and also regulatory and legal restrictions between the indexes shown and any investment in a Brookfield strategy, composite or fund. Brookfield obtained all index data from third-party index sponsors and believes the data to be accurate; however, Brookfield makes no representation regarding its accuracy. Indexes are unmanaged and cannot be purchased directly by investors.

Brookfield does not own or participate in the construction or day-to-day management of the indexes referenced in this document. The index information provided is for your information only and does not imply or predict that a Brookfield product will achieve similar results. This information is subject to change without notice. The indexes referenced in this document do not reflect any fees, expenses, sales charges or taxes. The index sponsors permit use of their indexes and related data on an "as is" basis, make no warranties regarding same, do not guarantee the suitability, quality, accuracy, timeliness and/or completeness of their index or any data included in, related to or derived therefrom, and assume no liability in connection with the use of the foregoing. The index sponsors have no liability for any direct, indirect, special, incidental, punitive, consequential or other damages (including loss of profits). The index sponsors do not sponsor, endorse or recommend Brookfield or any of its products or services. Unless otherwise noted, all indexes are total-return indexes.

Index Definitions

Bloomberg Emerging Markets Large & Mid Cap Net Return Index represents large- and mid-cap companies across emerging markets worldwide. Returns are calculated on a net basis, accounting for dividend withholding taxes, offering investors a view of equity opportunities in faster-growing economies.

Bloomberg Global-Aggregate Total Return Index Value Unhedged USD represents global investment-grade debt from developed and emerging markets, including government, corporate and securitized bonds. It provides a comprehensive measure of the global bond market without currency hedging.

Bloomberg Global World Large-Mid USD Net Total Return Index represents the performance of large- and mid-cap stocks across global developed and emerging markets. Performance is measured in U.S. dollars and net of dividend withholding taxes.

Bloomberg US 3000 Net Return Index represents the 3,000 largest U.S. companies by market capitalization. It offers a broad measure of the U.S. equity market, with performance reported net of dividend withholding taxes.

Bloomberg US Agg Total Return Value Unhedged USD Index is a broad-based, market-capitalization-weighted bond market index representing intermediate-term investment-grade bonds traded in the United States.

Bloomberg US Corporate High Yield Total Return Value Unhedged USD Index represents the performance of U.S. dollar-denominated, below-investment-grade corporate bonds. It reflects the returns investors would earn from the high-yield bond market, including interest payments and price changes.

Bloomberg US Large Cap Net Return Index represents large-cap U.S. stocks across major sectors, representing the performance of the largest U.S. companies. Returns are net of dividend withholding taxes.

Bloomberg US Securitized: MBS, ABS, and CMBS Index represents the performance of U.S. securitized debt, including mortgage-backed securities (MBS), asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS). It represents a broad view of the structured finance market in the U.S.

Bloomberg US Treasury Bellwether 3-Month Index represents the performance of the most recently issued ("on-the-run") U.S. Treasury security with a maturity of approximately three months. The index reflects the yield and price movements of the current 3-month Treasury bill and serves as a benchmark for short-term, risk-free U.S. government debt.

Bloomberg World ex US Large & Mid Cap Net Return Index represents large- and mid-cap equities across developed and emerging markets outside the United States. Returns are calculated net of withholding taxes, providing a global perspective but excluding U.S. companies.

Morningstar LSTA U.S. Leveraged Loan 100 Index is a market-value-weighted index designed to measure the performance of the U.S. leveraged loan market. The index consists of 100 loan facilities drawn from a larger benchmark, the Morningstar LSTA U.S. Leveraged Loan Index.

Preqin Hedge Funds Multi Strategy Index represents the performance of hedge funds that use a diversified approach across multiple investment strategies, offering a balanced view of the hedge fund industry.

Preqin Infrastructure Index captures the average returns earned by investors in their infrastructure portfolios, based on the actual amount of money invested.

Preqin Private Debt–Distressed Debt Index captures in an index the return earned by investors on average in their private debt/distressed debt portfolios, based on the actual amount of money invested in private capital partnerships. Private Debt–Distressed Debt represents investments in debt of companies that have filed for bankruptcy or have a significant chance of filing for bankruptcy in the near future. Historical data points are not recalculated as time passes, except for the latest two quarters available, which are preliminary. The preliminary quarters are finalized at a three-quarter lag coinciding with the full constituency for the as-at date being met. The universe of funds for each quarterly point in the index may change over time depending on data availability.

Preqin Private Debt Index ("Private Credit") represents the return earned by investors on average in their private credit portfolios, based on the actual amount of money invested in private capital partnerships. Historical data points are not recalculated as time passes, except for the latest two quarters available, which are preliminary. The preliminary quarters are finalized at a three-quarter lag coinciding with the full constituency for the as-at date being met. The universe of funds for each quarterly point in the index may change over time depending on data availability.

Preqin Private Equity–Buyout Index captures in an index the return earned by investors on average in their private equity/buyout portfolios, based on the actual amount of money invested in private capital partnerships. Private Equity–Buyout represents investments in established companies, often with the intention of improving operations and/or financials. Historical data points are not recalculated as time passes, except for the latest two quarters available, which are preliminary. The preliminary quarters are finalized at a three-quarter lag coinciding with the full constituency for the as-at date being met. The universe of funds for each quarterly point in the index may change over time depending on data availability.

Preqin Private Equity Index captures in an index the return earned by investors on average in their private equity portfolios, based on the actual amount of money invested in private capital partnerships. Historical data points are not recalculated as time passes, except for the latest two quarters available, which are preliminary. The preliminary quarters are finalized at a three-quarter lag coinciding with the full constituency for the as-at date being met. The universe of funds for each quarterly point in the index may change over time depending on data availability.

Preqin Private Equity–Venture Index captures in an index the return earned by investors on average in their private equity/venture portfolios, based on the actual amount of money invested in private capital partnerships. Private Equity–Venture represents investments in new or growing businesses with perceived long-term growth potential. Historical data points are not recalculated as time passes, except for the latest two quarters available, which are preliminary. The preliminary quarters are finalized at a three-quarter lag coinciding with the full constituency for the as-at date being met. The universe of funds for each quarterly point in the index may change over time depending on data availability.

Preqin Private Real Estate Index captures in an index the return earned by investors on average in their private real estate portfolios, based on the actual amount of money invested in private capital partnerships. Historical data points are not recalculated as time passes, except for the latest two quarters available, which are preliminary. The preliminary quarters are finalized at a three-quarter lag coinciding with the full constituency for the as-at date being met. The universe of funds for each quarterly point in the index may change over time depending on data availability.

Preqin Real Estate Debt Index captures in an index the return earned by investors on average in their private real estate debt portfolios, based on the actual amount of money invested in private capital partnerships. Real Estate Debt represents investments in loans secured by real estate. May include mezzanine debt, preferred equity, or senior loans. Historical data points are not recalculated as time passes, except for the latest two quarters available, which are preliminary. The preliminary quarters are finalized at a three-quarter lag coinciding with the full constituency for the as-at date being met. The universe of funds for each quarterly point in the index may change over time depending on data availability.

The Preqin Real Estate Opportunistic Index tracks the performance of private real estate funds focused on higher-risk, higher-return opportunities. These investments often involve properties that require significant redevelopment, repositioning, or re-leasing, with the goal of upgrading assets to higher quality standards. The index reflects the returns earned by investors across global opportunistic real estate portfolios, capturing exposures in all major property types, including niche sectors, and across primary, secondary and emerging markets.

S&P Developed Market REIT Index represents publicly listed real estate investment trusts (REITs) from developed markets around the world. It reflects the performance of real estate companies that own and operate income-producing properties.

S&P Global Clean Energy Transition Index represents companies worldwide that are leading or benefiting from the shift to cleaner energy options, such as renewable power, electrification, and energy efficiency solutions.

S&P Global Infrastructure Index represents the performance of listed companies involved in infrastructure activities, such as utilities, transportation and energy. It provides exposure to businesses that support global economic development.

Source Disclosures

Bloomberg Fixed Income: Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Bloomberg does not approve or endorse this material or guarantee the accuracy or completeness of any information herein, nor does Bloomberg make any warranty, express or implied, as to the results to be obtained therefrom, and, to the maximum extent allowed by law, Bloomberg shall not have any liability or responsibility for injury or damages arising in connection therewith.

Bloomberg Equities: Source: Bloomberg Index Services Limited. BLOOMBERG® and the indices referenced herein (the "Indices", and each such index, an "Index") are service marks of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg") and/or one or more third-party providers (each such provider, a "Third-Party Provider") and have been licensed for use for certain purposes to INSTITUTIONAL CAPITAL NETWORK, INC. (the "Licensee"), an affiliate of iCapital Advisors, LLC and included within "iCapital" as defined herein. To the extent a Third-Party Provider contributes intellectual property in connection with the Index, such third-party products, company names and logos are trademarks or service marks, and remain the property, of such Third-Party Provider. Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg’s licensors, including a Third-Party Provider, approves or endorses this material, nor guarantees the accuracy or completeness of any information herein, nor makes any warranty, express or implied, as to the results to be obtained therefrom; and, to the maximum extent allowed by law, neither Bloomberg nor Bloomberg’s licensors, including a Third-Party Provider, shall have any liability or responsibility for injury or damages arising in connection therewith.

Preqin Indices: Source: Alternative benchmarks powered by Preqin.

^3. Cumulative Return is the cumulative return of the investment over the relevant period.

^4. Annualized Return is the total return of the investment, expressed as an annually compounded rate of return.

^5. Annualized Volatility is an annualized measure of deviation from the annualized return of the investment.

^6. Max Drawdown is the greatest loss of value that the investment experienced over the relevant period. Date of Drawdown is the time interval when the max drawdown for the investment occurred.

^7. Sharpe Ratio is a measure of risk-adjusted return, indicating how much excess return an investment generates for each unit of risk taken. It is calculated by subtracting the risk-free rate from the investment's return and dividing that number by the investment's volatility (standard deviation). A higher Sharpe ratio is better because it suggests the investment is providing a greater return for the amount of risk assumed.

^8. The Growth Chart is premised on several assumptions and has certain inherent limitations, as described herein. Because of the incorporation of proxy performance described above, among other things, the estimates shown may differ materially from actual performance of any investment program or instrument. The growth chart calculates the aggregate cumulative value of a hypothetical $100,000 investment for the time period selected by the user, assuming the full amount is invested on the start date, and the portfolio allocation remains steady. The growth chart uses proxy index performance for all asset classes. Portfolio-level performance is calculated based on the weight of each proxy index. The weight of each proxy index in a portfolio is held constant by rebalancing the portfolio holdings quarterly. The growth chart does not account for the effect of any portfolio-level fees and expenses that may apply, such as account management fees. iCapital and/or Brookfield may change, alter or replace the growth chart or this methodology in their/its discretion at any time upon notice in the form of a revised growth chart or methodology made available on the site. Therefore, results presented may vary with each use and over time.

^9. The Past Market Event Analysis is premised on several assumptions and has certain inherent limitations, as described herein. Because of the incorporation of proxy performance, among other things, the estimates shown may differ materially from actual performance of any investment program or instrument. The past market event analysis calculates the aggregate historical performance of a proxy portfolio during specified historical scenarios, assuming the full amount is invested on the start date of a historical market scenario and the portfolio allocation remains steady for the relevant period. Past market event analysis uses historical performance of proxy indices. Portfolio-level performance is calculated based on the weight of each proxy index in the portfolio. The past market event analysis does not account for the effect of any portfolio-level fees and expenses that may apply, such as account management fees. Historical market scenarios are assumed to start on the first date of the calendar quarter in which the applicable market event begins and to end on the last date of the calendar quarter in which the market event concludes (which may be the same quarter as the start of the market event). iCapital and/or Brookfield may change, alter or replace the past market event analysis or this methodology in their/its discretion at any time upon notice in the form of a revised past market event analysis or methodology made available on the site.

Important Information

Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk, including loss of principal, and no assurance can be given that any alternative investment fund’s investment objectives will be achieved.. Alternative investments are often illiquid, subject to lock-ups, gates, capital calls, and valuation lags. The Alts Allocator may not reflect the timing and magnitude of cash flows or the inability to rebalance during stress periods.

As an asset class, private credit encompasses of a large variety of different debt instruments. While each has its own risk and return profile, private credit assets generally have increased risk of default, due to their typical opportunistic focus on companies with limited funding options, in comparison to their public equivalents.

Because private credit usually involves lending to below-investment-grade or non-rated issuers, yield on private credit assets is increased in return for taking on increased risk.

Investments in real estate-related instruments may be affected by economic, legal or environmental factors that affect property values, rents or occupancies of real estate.

The information contained herein is for educational and informational purposes only and does not constitute, and should not be construed as, an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. It is not intended to provide an overview of the terms applicable to any products sponsored by Brookfield Corporation and its affiliates (together, "Brookfield"). Information and views are subject to change without notice. Some of the information provided herein has been prepared based on Brookfield’s internal research, and certain information is based on various assumptions made by Brookfield, any of which may prove to be incorrect. Brookfield may not have verified (and disclaims any obligation to verify) the accuracy or completeness of any information included herein, including information that has been provided by third parties, and you cannot rely on Brookfield as having verified any of the information. The information provided herein reflects Brookfield’s perspectives and beliefs as of September 2025.

Forward-Looking Statements

Information herein contains, includes or is based on forward-looking statements within the meaning of the federal securities laws, specifically Section 21E of the Securities Exchange Act of 1934, as amended, and Canadian securities laws. Forward-looking statements include all statements, other than statements of historical fact, that address future activities, events or developments, including, without limitation, business or investment strategy or measures to implement strategy, competitive strengths, goals, expansion and growth of our business, plans, prospects and references to our future success. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and other similar words are intended to identify these forward-looking statements. Forward-looking statements can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining our actual future results or outcomes. Consequently, no forward-looking statement can be guaranteed. Our actual results or outcomes may vary materially. Given these uncertainties, you should not place undue reliance on these forward-looking statements.

©2025 Brookfield Oaktree Wealth Solutions LLC is a wholly owned subsidiary of Brookfield. Brookfield Oaktree Wealth Solutions LLC is registered as a broker-dealer with the U.S. Securities and Exchange Commission (SEC) and is a member of FINRA and the Securities Investor Protection Corporation (SIPC).