Forward Looking Statements

Corporate Profile March 2009 Contents Corporate Overview Page 2 Residential Operations 13 Strong Financial Position 15 Portfolio 17 Addition...
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Corporate Profile March 2009

Contents Corporate Overview

Page 2

Residential Operations

13

Strong Financial Position

15

Portfolio

17

Additional Information

34

Note: All financial and leasing data are as at December 31, 2008

1

Forward Looking Statements This corporate profile contains forward-looking statements and information within the meaning of applicable securities legislation. Although Brookfield Properties believes that the 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 t t t andd iinformation f ti bbecause th they iinvolve l kknown andd unknown k risks, i k uncertainties t i ti andd other th ffactors t which may cause the actual results, assumptions, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forwardlooking statements and information. Accordingly, the company cannot give any assurance that its expectations will in fact occur and cautions that actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those set forth in the forwardlooking statements and information include general economic conditions; local real estate conditions, including the development of properties in close proximity to the company’s properties; timely leasing of newly-developed properties and re-leasing of occupied square footage upon expiration; dependence on tenants' financial condition; the uncertainties of real estate development and acquisition activity; the ability to effectively integrate acquisitions; interest rates; availability of equity and debt financing; the impact of newly newly-adopted adopted accounting principles on the company's accounting policies and on period-to-period comparisons of financial results; and other risks and factors described from time to time in the documents filed by the company with the securities regulators in Canada and the United States, including in the Annual Information Form under the heading “Business of Brookfield Properties – Company and Real Estate Industry Risks,” and in the company’s annual report under the heading “Management’s Discussion and Analysis.” The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise except as required by securities laws.

2

1

Overview

Overview •

Invested in 108 properties, comprising 74 million square feet



Prominent, well-located assets in North America’s top markets



High-quality office portfolio



High rents, high occupancy levels and long-term leases



Disciplined management team



Stable operating income; steady stream of cashflow

1625 Eye Street, N.W., Washington, DC

Bankers Hall, Calgary

World Financial Center, New York

4

2

Top Markets, Premier Portfolio Brookfield Properties’ commercial property portfolio includes well-located, prominent assets in North America’s top markets C l Calgary 6.7 million sq. ft. Edmonton 0.7 million sq. ft.

Ottawa 2.8 million sq. ft.

Vancouver 0.9 million sq. ft.

Boston 2.3 million sq. ft.

Toronto 9.1 million sq. ft.

Minneapolis 3.1 million sq. ft.

New York 20.6 million sq. ft

Los Angeles 10.8 million sq. ft.

(18.5 million sq. ft.)*

(5.7 million sq. ft.)*

Houston 9.1 million sq. ft.

Denver 1.8 million sq. ft.

Washington, D.C. 6.6 million sq. ft.

*Excludes non-managed properties Note: Square footage is on gross basis and excludes development properties

5

High-Growth Markets •

Invested in markets with strong economies that produce stable demand

Financial

Government

Energy

Services

Total

2008 NOI %

57%

12%

16%

15%

100%

2000 NOI %

74%

-

13%

13%

100%

Washington, D.C., Ottawa

Calgary, Houston, Denver

GOVERNMENT CENTERS

ENERGY SECTOR MARKETS

9.4 million sq. ft. 34 properties

17.6 million sq. ft. 18 properties

New York, Toronto, Boston Los Angeles, Minneapolis, Other FINANCIAL SERVICES MARKETS 31.9 million sq. ft. (29.8 million sq. ft.)*

26 properties

108 PROPERTIES 74 MILLION SQ. FT.

(23 properties)*

SERVICES & OTHER MARKETS 15.5 million sq. ft. (10.4 million sq. ft.)*

30 properties (14 properties)*

Note: Square footage is on gross basis and excludes development properties

*Excludes non-managed properties

6

3

Liquidity Position •

$157 million of cash and cash equivalents on balance sheet



$467 million of undrawn credit facility available through YE 2010



2009 Debt Maturities: ƒ 13 asset-level loans; Currently at work on renewing ƒ Non-recourse ƒ $57 million average size ƒ 40% LTV average ƒ 1.8x debt service coverage ratio



No further significant debt maturities until 2011



Strong corporate sponsor and principal shareholder, Brookfield Asset Management, has in excess of $3 billion of consolidated liquidity in cash and undrawn lines



Standard & Poor's recently reaffirmed Brookfield Properties’ investment-grade rating

7

Well-Positioned to Ride Out Market Downturn •

Average occupancy on managed portfolio today: 96%



Average annual lease rollover over next three years: 5%



Average lease duration: over 7 years



Average tenant quality: “A” rated



Average net rent: 30% below current market



Investment grade financing at asset level: 94% non-recourse



Average duration of financing: 7 years

Exchange Tower, Toronto

8

4

Acquisitions Brookfield Properties’ 74 million square feet of commercial property was largely assembled through six portfolio acquisitions Trizec (45%) 2006 New York, Washington D.C., Houston, Los Angeles

Royal Trust (89%) 1997 - 2003

O&Y Properties (25%) 2005 Toronto, Calgary, Ottawa, Edmonton

BCE (100%) 1990, 1994 Toronto, Minneapolis, De nver

O&Y (USA) (99%) 1996 - 2002

Brookfield Properties 74M Sq. Sq Ft. Ft

T Toronto t

Single Acquisitions and Other

N York, New Y k Boston B t

Trizec Western Canada (100%) 2000 Calgary

Note: Square footage is on gross basis and excludes development properties

9

Long-Term Lease Profile Seven-year average lease term across the portfolio and minimal near-term lease expiries limits market risk 13

Average lease term by market(1)

8

8 7 6

7

7 6

6

7

7 6

5

(1) Excludes

Blackstone-managed properties

10

5

Diversified, High-Credit Quality Tenants Our premier portfolio attracts the best-credit tenants, providing a long-term, high-quality cash flow TENANT

LOCATION

Merrill Lynch(1)

New York, Toronto, Denver, LA

4,923,000

SQ. FT.

2013

EXPIRY

Government & Government Agencies

All markets

3,134,000

Various

Chevron U.S.A.

Houston

1,744,000

2017

Wachovia Securities(2)

New York

1,439,000

2015

Canadian Imperial Bank of Commerce

New York, Toronto, Calgary

1,437,000

2032

Royal Bank of Canada

Vancouver, Toronto, Calgary, NY, LA, Minneapolis

1,206,000

2019

Bank of Montreal

Toronto, Calgary

1,134,000

2018

Petro-Canada C

C Calgary

1,015,000

2028

JPMorgan Chase

NY, Denver, Houston, LA

975,000

2020

Goldman Sachs

New York

896,000

2012

Target Corporation

Minneapolis

886,000

2014

Devon Energy

Houston

865,000

2020

(1) (2)

Merrill Lynch occupies 2.8 million sq ft at the World Financial Center, NY, with 1.8 million sq ft leased to subtenants. Its lease expires in 2013. Wachovia occupies 148,000 sq ft at One NY Plaza, NY, with 1.2 million sq ft leased to subtenants. Its lease expires in 2015.

11

Industry-Leading Occupancy Rates Our proactive leasing strategy produced 6.4 million sq. ft. of leases in 2008, excluding leasing for developments. The current managed-portfolio occupancy rate is 96.3%. Vacancy Rates 13.8%

13.1% 12.3% 11.8%

8.5% 7.3%

7.4%

6.7% 5.7% 5.1% 4 5% 4.5%

3.8%

3.8% 2.2%

1.9%

Brookfield Properties

Market

Los Angeles*

0.5% Houston

Calgary

Toronto

Washington

Boston

Downtown NYC

Midtown NYC*

0.1%

Ottawa

1.0%

*Excludes non-managed properties

12

6

Low Rollover Profile Limited vacancy and low rollover exposure ensures continuity of cashflow, low levels of capital expenditures and leasing costs 000's Sq. Ft. CITY New York - Midtown New York – Downtown Boston Washington, D.C. Los Angeles Houston Toronto Calgary Ottawa Denver Minneapolis Other Total End of prior year Difference (1) Excludes

CURRENTLY AVAILABLE 167 141 113 379 558 425 164 7 8 31 188 21 2,202 3.7% 7.6% -3.8%

2009 102 196 183 511 114 181 432 61 35 39 71 41 1,966 3.3% 4.6% -1.3%

2010 248 286 125 292 226 304 580 346 7 104 65 181 2,764 4.7% 6.1% -1.4%

Leasing Profile (1)

2011 66 670 454 195 485 780 511 680 8 99 48 142 4,138 7.0% 8.3% -1.3%

2012 17 426 48 603 971 1,102 763 461 6 87 178 90 4,752 8.1% 8.4% -0.3%

2013 627 4,759 32 418 192 775 1,478 502 1 131 1,131 151 791 104 10,960 18.7% 18.8% -0.1%

2014 154 410 30 1,232 414 595 280 111 9 134 172 45 3,586 6.1% 5.1% 1.0%

2015 92 2,156 − 273 191 657 715 1,016 542 59 434 115 6,250 10.6% 10.4% 0.2%

2016+ 2,965 4,675 1,005 1,716 1,379 3,461 2,694 2,497 4 620 583 514 22,113 37.8% 30.7% 7.1%

PARKING − 281 276 970 1,156 838 1,519 1,023 1 030 1,030 503 521 385 8,502 ─

developments and non-managed properties

TOTAL 4,438 14,000 2,266 6,589 5,686 9,118 9,136 6,704 2 780 2,780 1,827 3,051 1,638 67,233 100.0% 100.0%

13

2008 Significant Leasing Transactions •

Petro-Canada – 15-year extension and expansion for 1 million square feet at Petro-Canada Centre, Calgary



Imperial Oil – 8-year extension and expansion for 717,000 square feet at Fifth Avenue Place, Calgary



Continental Airlines – 5-year renewals for 646,000 square feet at Continental Center I and II, Houston



World Bank – 10-year new lease for 227,000 square feet at 1225 Connecticut Ave., Washington, DC



Bennett Jones – 7-year renewal for 145,000 square feet at First Canadian Place, Toronto



Crescent Point – 11-year extension and expansion for 140,000 square feet at Petro-Canada Centre, Calgary



Citgo – 10-year new lease for 99,000 square feet at Hudson’s Bay Centre, Toronto

Petro-Canada Centre Calgary

14

7

2008 Investing Investing with partners in a fund format enhances returns and represents an important area of growth as we expand our assets under management. Our O&Y and Trizec acquisitions were completed in a fund format.

FEE CATEGORY Asset Management

Stable base fee for providing regular, ongoing services

Transaction

Development, redevelopment and leasing activities conducted on behalf of these funds

Performance

Earned when certain pre-determined benchmarks are exceeded

15

2008 Strategic Initiatives •

Completed the sale of our 50% stake in TD Canada Trust Tower, Toronto, for gross proceeds of C$425 million – or C$721 per square foot



Completed a number of financings, including: ƒ

Renewed the corporate revolver credit facility through June 2011

ƒ Renewed $300 million corporate revolving credit facility with Brookfield Asset Management Inc. into 2010



Realized net gain of $339 million, including a gain of $479 million associated with revaluing the company’s future tax liability as a result of management’s decision to convert its U.S. properties held outside the U.S. Fund into an internal REIT structure.

TD Canada Trust Tower Toronto

16

8

Share Buybacks Share Repurchase(1)

Average Price/Share

2008

2,268,600

$17.65

$40.1

2007

4,513,200

22.87

103.2

2006(2)

Total Cost ($ millions)







2005

4,040,250

18.32

74.0

2004

3,172,275

13.59

43.1

2003

11,265,075

9.38

105.7

2002

3 118 275 3,118,275

8 21 8.21

25 6 25.6

2001

5,406,075

7.70

41.6

2000

3,569,175

5.55

19.8

1999

875,700

4.68

4.1

38,228,625

$11.96

$457.2

(1) Share

information restated to reflect stock splits (2) No share repurchases occurred in 2006 due to M&A-related blackout periods

17

Premier Developer • • •

2.5 million sf under construction 16.5 million sf pipeline 65% pre-leased in aggregate

Bay Adelaide Centre I Toronto

Bankers Court Calgary

77 K Street Washington, D.C.

Reston Crescent II Reston, VA

1225 Connecticut Avenue* Washington, DC

1.2 million sq. ft. Q3 2009 completion

265,000 sq. ft. Q1 2009 completion

327,000 sq. ft. Complete

185,000 sq. ft. Complete

269,000 sq. ft. Complete

72% pre-leased

100% pre-leased

0% pre-leased

31% pre-leased

100% pre-leased *redevelopment property

18

9

Future Developments

Five Allen Center Houston

300 Queen Street Ottawa

Manhattan West New York

1.1 million sq. ft.

577,000 sq. ft.

5.4 million sq. ft.

19

Development Pipeline 14 sites totaling 16.2 million sq. ft. of buildable density in 7 high-growth markets LOCATION New York, New York Ninth Avenue Toronto, Ontario Bay Adelaide Centre Brookfield Place III Calgary, Alberta Bankers Court Herald Site Ottawa, Ontario 300 Queen St. Denver, Colorado 1501 Tremont Place Block 173 Washington, D.C. 77 K Street, N.E. Reston Crescent Waterview Houston, Texas 1500 Smith Street Five Allen Center Allen Center Clay St. Total

NUMBER OF SITES

OWNERSHIP %

DENSITY (SQ. FT.)

UNDER CONSTRUCTION SQ. FT.

1

100%

5,400,000

1 1

100% 54%

2,600,000 800,000

1,160,000

1 1

50% 100%

500,000 1,200,000

265,000

1

25%

577,000

1 1

100% 100%

733,000 600,000

1 1 1

50% 100%* 25%*

327,000 1,000,000 300,000

327,000 185,000 300,000

1 1 1 14

100%* 100%* 100%*

500,000 1,100,000 600,000 16,237,000

2,237,000

*Properties are held in the company’s US Office Fund, of which Brookfield Properties has a 45% economic interest

20

10

Bay Adelaide Centre, Toronto •

Three-phase, 2.6 million sq. ft. site in Toronto’s financial core built to a LEED Gold standard



Phase I launched in 2006, a 1.2 million sq. ft., 51 story tower



Concrete core and curtain wall topped out; most floors ready for tenant build-outs



Scheduled for completion in Q3 2009; currently 72% leased to five tenants



First new development in Toronto's financial core since Brookfield Place was completed in 1992

21

Bankers Court, Calgary •

15-story, 265,000-square-foot office building connected to Bankers Hall complex via skybridge



Concrete core and curtain wall topped out; floors turned over to tenants for commencement of build-outs



Scheduled for completion in Q1 2009



100% pre-leased to Compton Petroleum and Fraser Milner Casgrain



Long-term commitments at rental rates significantly greater than those achieved by competitive developments

22

11

77 K Street, NE, Washington, DC •

Located in the Capitol Hill submarket



Adjacent to Union Station



327,000 sq. ft., 11-story office building



Rooftop terrace with dramatic views of the Capitol



Completed in Q3 2008

23

Two Reston Crescent, Reston, VA •

Situated on a 1,000,000-square-foot landscaped campus



Sister Si t building b ildi tto O One R Reston t C Crescent, t completed in 2000



Six-story, 185,000 square foot building



Completed in Q2 2008



31% leased to United Health Care

24

12

1225 Connecticut Avenue, Washington, DC •

$32 million invested to redevelop in a Cl Class A A, LEED LEED-Gold G ld assett



Completely modernized, eight-story, 269,000-square-foot office building



100% of office space leased to World Bank



Completed in Q4 2008

25

4. Residential Operations

13

Residential Land Development Business ACRES BY MARKET*

Colorado 18%

Texas 26%

Ontario 13%



Mainly based in Western Canada's province of Alberta



Alberta's economy is driven by oil sands reserves and exploration



Net migration to Alberta in 2009 projected to be equal to 2008 levels(1)

Missouri 1%

Alberta 42%

* Excludes

land under development

(1)

Source: Statistics Canada

27

Residential Operations Achievements 555% increase in NOI 2002 – 2008 31% CAGR ($ millions)

237 144

144

106 22

31

42

2002

2003

2004

2005

2006

2007

2008 28

14

Strong Financial Position

Track Record of Steady Growth Earned FFO per diluted share of $1.59 during 2008 12.6% CAGR

FFO Per Share

0.43

0.50

1998

1999

0.65

0.73

2000

2001

0.83

2002

0.95

2003

1.13

2004

1.23

1.25

2005

2006

1.57

1.59

2007

2008

Reflects 2005 and 2007 three-for-two stock splits

30

15

A REOC…Not a REIT •





Brookfield Properties Corporation (Brookfield) is organized as a REOC (Real E t t Operating Estate O ti Company), C ) also l known k as a C-Corp. This corporate form allows the company to reinvest its profits in the business, rather than distributing 90% of profits to shareholders as REITs are required to do. Brookfield utilizes net operating losses (NOLs) in Canada and the United States to shelter the company from cash tax payments.

All Center Allen C t & Continental C ti t l Center C t I Houston

31

Solid Financial Ratios

(1)

OBJECTIVE

ANNUAL RESULTS 2008 2007 2006 2005

Debt to total market capitalization

69%

47%

41%

39%

Non-recourse debt(1)

94%

94%

94%

88%

Interest expense coverage

2.1x

2.0x

2.1x

2.6x

Non-recourse to Brookfield Properties Corporation

32

16

Selected Financial Highlights (Millions, except per share information)

2008

2007

2006

2005

2004

Results of operations Funds from operations

$

Commercial property net operating income Net income

626

$

629

$

443

$

435

$

403

1,328

1,260

800

655

647

700

240

135

164

138

Per diluted common share(1) Funds from operations

$

1.59

$

1.57

$

$

0.37

1.23

$

0.46

1.13

1.77

Dividends paid

0.56

0.55

0.50

0.43

0.28

7 73 7.73

19 25 19.25

26 22 26.22

19 61 19.61

16 62 16.62

Cl i market Closing k t price i — NYSE

0.59

1.25

Net income

0.39

Financial position Total assets Shareholders’ equity (1) Restated

$

19,457

$

3,427

20,473 3,078

$

19,314 3,112

$

9,513 1,943

$

8,800 1,992

to reflect stock splits

33

Portfolio

17

Market Focus Our primary markets have strong economies that produce stable demand for office space. Focus is on financial service, government and energy sector tenant markets SQ. FT.

MARKET DISTRIBUTION BY NOI

Houston 8%

NYC - Downtown

NYC Midtown 12%

Los Angeles 14%

NYC Downtown 28%

Other 5% Washington, D.C. 11% Denver 2% Boston 5%

MARKET

Calgary 6%

SQ. FT.

2008

14,000

19%

28%

NYC - Midtown

6,563

9%

12%

Boston

2,266

3%

5%

Houston

9,118

12%

8%

10,763

15%

14%

Los Angeles

Toronto 9%

NOI

000’s

Washington, g , D.C.

6,589 ,

9%

11%

Denver

1,827

2%

2%

Toronto

9,136

12%

9%

Calgary

6,704

9%

6%

Ottawa

2,780

4%

1%

Minneapolis

3,051

4%

1%

Other

1,638

2%

3%

Total

74,435

100%

100% 35

New York - Downtown BPO VACANCY / ROLLOVER EXPOSURE 670

426

286 196 141

Vacant

2009

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of managed properties Total sq. ft. (000’s)

7 14,000

Portfolio vacancy

1.0%

Market vacancy

7.4%

% OF Downtown Portfolio

VACANT

1.0

2009 1.4

2010 2.1

2011 4.9

2012 3.1

Pictured Above: The World Financial Center

36

18

New York - Downtown

One World Financial Center

Two World Financial Center

Three World Financial Center

Four World Financial Center

• 1.7 million sq. ft.

• 2.7 million sq. ft.

• 1.3 million sq. ft.

• 2.0 million sq. ft.

• 99.2% occupied

• 100% occupied

• 99.8% occupied

• 100% occupied

37

New York - Downtown

The Winter Garden & WFC Retail

One Liberty Plaza

One New York Plaza

Newport Tower Jersey City

• 290,000 sq. ft.

• 2.3 million sq. ft.

• 2.6 million sq. ft.

• 1.1 million sq. ft.

• 80.4% occupied

• 99.0% occupied

• 99.0% occupied

• 96.2% occupied

38

19

New York - Midtown BPO VACANCY / ROLLOVER EXPOSURE 627 446 391 375

131

Vacant

2009

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of managed properties

3

Number of non-managed properties

3

Total sq. ft. (000’s)

6,563

Portfolio vacancy

9.6%

Market vacancy

8.5%

% OF Midtown Portfolio

VACANT

9.6

2009 5.7

Pictured Above: 300 Madison Avenue

2010 6.0

2011 2.0

2012 6.8

39

New York - Midtown

245 Park Avenue

300 Madison Avenue

Grace Building

• 1.8 million sq. ft.

• 1.1 million sq. ft.

• 1.6 million sq. ft.

• 95.4% occupied

• 100% occupied

• 94.5% occupied

Note: Brookfield-managed properties shown above

40

20

Boston BPO VACANCY / ROLLOVER EXPOSURE

454

183 125

113

48

Vacant

2009

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of properties

2

Total sq. ft. (000’s)

2,266

Portfolio vacancy

5.7%

Market vacancy

13.1%

% OF Boston Portfolio

VACANT

5.7

2009 9.2

2010 6.3

2011 22.8

2012 2.4

Pictured Above: 75 & 53 State Street

41

Boston

53 State Street

75 State Street

• 1.2 million sq. ft.

• 1.0 million sq. ft.

• 99.3% occupied

• 86.8% occupied

42

21

Washington, DC BPO VACANCY / ROLLOVER EXPOSURE

603

511 379 292 195

Vacant

2009

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of properties

28

Total sq. ft. (000’s)

6,589

Portfolio vacancy

6.7%

Market vacancy

7.3%

% OF Washington Portfolio

VACANT

6.7

2009 9.1

2010 5.2

2011 3.5

2012 10.8

Pictured Above: 1625 Eye St., N.W.

43

Washington, DC

1625 Eye Street

701 9th Street

1200 K Street

1250 23rd Street

• 571,000 sq. ft.

• 547,000 sq. ft.

• 434,000 sq. ft

• 144,000 sq. ft.

• 100% occupied

• 100% occupied

• 97.6% occupied

• 0% occupied

44

22

Washington, DC

1250 Connecticut Ave.

1400 K Street

2000 L Street

• 210,000 sq. ft.

• 224,000 sq. ft

• 383,000 sq. ft.

• 98.5% occupied

• 100% occupied

• 90.5% occupied

45

Washington, DC

2401 Pennsylvania Ave.

Victor Building

2001 M Street

• 93,000 sq. ft

• 347,000 sq. ft.

• 264,000 sq. ft.

• 86.9% occupied

• 73.1% occupied

• 98.9% occupied

46

23

Northern Virginia

Potomac Tower

601 & 701 S 12th Street

One Reston Crescent

Sunrise Technology Park

• 441,000 sq. ft.

• 562,000 sq. ft.

• 185,000 sq. ft.

• 316,000 sq. ft.

• 92.5% occupied

• 100% occupied

• 100% occupied

• 95.8% occupied

47

Northern Virginia

Two Ballston Plaza

1550 Wilson Blvd.

1560 Wilson Blvd.

• 223,000 sq. ft.

• 359,000 sq. ft.*

• 359,000 sq. ft.*

• 97.5% occupied

• 87.1% occupied*

• 87.1% occupied*

*Includes both 1550 & 1560 Wilson Boulevard

48

24

Suburban Maryland

7401 Bethesda Crescent

7475 Bethesda Crescent

4600 Bethesda Crescent

• 179,000 sq. ft.

• 336,000 sq. ft*

• 336,000 sq. ft.*

• 336,000 sq. ft.*

• 100% occupied

• 99.9% occupied*

• 99.9% occupied*

• 99.9% occupied*

One Bethesda Center

* Includes 7401, 7475, 4600 Bethesda Crescent

49

Suburban Maryland

8401 Silver Springs Metro Plaza

8403 Silver Springs Metro Plaza

8405 Silver Springs Metro Plaza

• 771,000 sq. ft.*

• 771,000 sq. ft*

• 771,000 sq. ft.*

• 94.0% occupied*

• 94.0% occupied*

• 94.0% occupied*

* Includes 8401, 8403, 8405 Silver Springs Metro Plaza

50

25

Houston BPO VACANCY / ROLLOVER EXPOSURE 1,102

780

425 304 181

Vacant

2009

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of properties

9

Total sq. ft. (000’s)

9,118

Portfolio vacancy

5.1%

Market vacancy

11.8%

% OF Houston Portfolio

VACANT

5.1

2009 2.2

2010 3.7

2011 9.4

2012 13.3

Pictured Above: Allen Center and Cullen Center

51

Houston

One Allen Center

Two Allen Center

Three Allen Center

Four Allen Center

1201 Louisiana Total Plaza

• 993,000 sq. ft

• 996,000 sq. ft.

• 1.2 million sq. ft.

• 1.3 million sq. ft.

• 892,000 sq. ft.

• 99.0% occupied

• 98.8% occupied

• 94.4% occupied

• 100% occupied

• 94.4% occupied

52

26

Houston

500 Jefferson

Continental Center I

Continental Center II

KBR Tower

• 434,000 sq. ft

• 1.5 million sq. ft.

• 530,000 sq. ft.

• 1.3 million sq. ft.

• 97.5% occupied

• 97.2% occupied

• 83.8% occupied

• 83.4% occupied

53

Los Angeles BPO VACANCY / ROLLOVER EXPOSURE 1,405

1,217 1 032 1,032 836

422

Vacant

2009

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of managed properties Number of non-managed properties

6 16

Total sq. ft. (000’s)

10,763

Portfolio vacancy

14.1%

Market vacancy

13.8%

Pictured Above: Figueroa at Wilshire

% OF Los Angeles Portfolio

VACANT

14.1

2009 4.9

2010 9.7

2011 12.0

2012 16.3

54

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Los Angeles

Bank of America Plaza

Ernst & Young Plaza

Figueroa at Wilshire

Landmark Square

Marina Towers

• 1.8 million sq. ft

• 1.6 million sq. ft.

• 1.2 million sq. ft.

• 655,000 sq. ft.

• 468,000 sq. ft.

• 96.0% occupied

• 84.0% occupied

• 75.3% occupied

• 94.4% occupied

• 94.7% occupied

Note: Brookfield-managed properties shown above

55

Denver BPO VACANCY / ROLLOVER EXPOSURE 104

99 87

31

Vacant

39

2009

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of properties Total sq. ft. (000’s)

1 1,827

Portfolio vacancy

2.3%

Market vacancy

16.5%

% OF Denver Portfolio

VACANT

2.3

2009 2.9

2010 7.9

2011 7.5

2012 6.6

Pictured Above: Republic Plaza

56

28

Minneapolis BPO VACANCY / ROLLOVER EXPOSURE

188

178

71

Vacant

65

2009

48

2010

2011

2012 000’s sq. q ft.

BROOKFIELD STATISTICS Number of properties Total sq. ft. (000’s)

4 3,051

Portfolio vacancy

7.4%

Market vacancy

15.7%

% OF Minneapolis Portfolio

VACANT

7.4

2009 2.8

2010 2.6

2011 1.9

2012 7.0

Pictured Above: 33 South Sixth Street

57

Minneapolis

33 South Sixth Street & City Center

RBC Plaza & Gaviidae Common I & II

• 1.8 million sq. ft

• 1.2 million sq. ft.

• 91.6% occupied

• 93.9% occupied

58

29

Toronto BPO VACANCY / ROLLOVER EXPOSURE

763 580

511

432 164

Vacant

2009

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of properties

11

Total sq. ft. (000’s)

9,136

Portfolio vacancy

2.2%

Market vacancy

3.8%

% OF Toronto Portfolio

VACANT

2.2

2009 5.7

2010 7.6

2011 6.7

2012 10.0

Pictured Above: Bay Wellington Tower, Brookfield Place

59

Toronto

Bay Wellington Tower

Brookfield Place Retail/Parking

151 Yonge Street

First Canadian Place

• 1.3 million sq. ft.

• 742,000 sq. ft.

• 371,000 sq. ft.

• 2.8 million sq. ft

• 99.4% occupied

• 100% occupied

• 94.7% occupied

• 96.5% occupied

60

30

Toronto

Exchange Tower

2 Queen Street East

Hudson’s Bay Centre

105 Adelaide Street

• 1.2 million sq. ft.

• 232,000 sq. ft

• 1.1 million sq. ft.

• 545,000 sq. ft.

• 98.7% occupied

• 100% occupied

• 99.3% occupied

• 98.6% occupied

61

Toronto

Queen’s Quay Terminal

HSBC Building

22 Front Street

• 504,000 sq. ft.

• 225,000 sq. ft.

• 144,000 sq. ft.

• 96.4% occupied

• 97.1% occupied

• 99.2% occupied

62

31

Calgary BPO VACANCY / ROLLOVER EXPOSURE

680 461

346 7

61

Vacant

2009

2010

2011

2012 000’s sq. q ft.

BROOKFIELD STATISTICS Number of properties

8

Total sq. ft. (000’s)

6,704

Portfolio vacancy

0.1%

Market vacancy

4.5%

% OF Calgary Portfolio

VACANT

0.1

2009 1.1

2010 6.1

2011 12.0

2012 8.1

Pictured Above: Bankers Hall

63

Calgary

Bankers Hall

Fifth Avenue Place

Petro-Canada Centre

Altius Centre

• 2.7 million sq. ft.

• 1.7 million sq. ft.

• 2.0 million sq. ft.

• 378,000 sq. ft

• 100% occupied

• 99.9% occupied

• 100% occupied

• 98.1% occupied

64

32

Ottawa BPO VACANCY / ROLLOVER EXPOSURE

35 8 Vacant

2009

7

8

6

2010

2011

2012

000’s sq. q ft.

BROOKFIELD STATISTICS Number of properties

6

Total sq. ft. (000’s)

2,780

Portfolio vacancy

0.5%

Market vacancy

1.9%

% OF Ottawa Portfolio

VACANT

0.5

2009 2.0

2010 0.4

2011 0.5

2012 0.3

Pictured Above: Place de Ville I

65

Ottawa

Place de Ville I

Place de Ville II

Jean Edmonds Towers

• 1.1 million sq. ft.

• 1.0 million sq. ft.

• 648,000 sq. ft

• 99.4% occupied

• 99.3% occupied

• 100% occupied

66

33

Edmonton / Vancouver

Canadian Western Bank Place, Edmonton

Enbridge Tower, Edmonton

Royal Centre, Vancouver

• 498,000 sq. ft

• 214,000 sq. ft.

• 853,000 sq. ft

• 99.8% occupied

• 100% occupied

• 96.9% occupied

67

Additional Information

34

Senior Management Team

NAME

POSITION

PHONE

Ric Clark

CEO

(212) 417-7063

Steve Douglas

President

(212) 417-7059

Tom Farley

President & CEO, Canadian Commercial Operations

(416) 369-2706

Dennis Friedrich

President & CEO, U.S. Commercial Operations

(212) 417-7032

Mark Brown

Senior Vice President, Finance

(212) 417-7064

Bryan Davis

Senior Vice President & CFO

(212) 417-7166 417 7166

Melissa Coley

Vice President, Investor Relations

(212) 417-7215

69

Analyst Coverage COMPANY

NAME

PHONE

NAME

PHONE

Banc of America - Merrill Lynch

Steve Sakwa

(212) 449-0335

Ian Weissman

(212) 449-6255

Blackmont Capital

Gail Mifsud

(416) 864-2070

BMO Nesbitt N bi B Burns

K i MacIndoe Karine M I d

(416) 359-4269 3 9 4269

G Garreth hM McRae R

(416) 359-6769 3 9 6 69

Canaccord Capital Corporation

Shant Poladian

(416) 869-6595

Yashwant Sankpa

(416) 869-3643

CIBC World Markets

Rossa O'Reilly

(416) 594-7296

Alex Avery

(416) 594-8179

Citigroup

Michael Bilerman

(212) 816-1383

Credit Suisse

Steve Benyik

(212) 538-0239

Deutsche Bank Securities

Louis Taylor

(212) 250-4912

Vincent Chao

(212) 250-6799

Genuity Capital Markets

Mark Rothschild

(416) 687-5428

Jenny Ma

(416) 687-5411

Goldman Sachs

Jay Haberman

(917) 343-4260

Sloan Bohlen

(212) 902-2796

Green Street Advisors

Cédrik Lachance

(949) 640-8780

John Stewart

(949) 640-8780

JP Morgan

Anthony Paolone

(212) 622-6682

Joseph Dazio

(212) 622-6416

National Bank

Jimmy Shan

(416) 869-8025

RBC Capital Markets

Neil Downey

(416) 842-7835

Tyler Bos

(416) 842-4123

Scotia Capital Markets

Mario Saric

(416) 863-7824

Stifel, Nicolaus

John Guinee

(443) 224-1307

Erin Aslakson

(443) 224-1350

TD Newcrest

Sam Damiani

(416) 983-9640

Maurice Choy

(416) 983-4406

70

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Sustainability and Corporate Citizenship • Our premier office properties are sustainable, environmentally friendly and technologically advanced • We have pledged to build all future developments to a LEED Gold standard • We are a member of both the U.S. and Canadian Green Building Councils • We are a member of FTSE4Good stock index series which recognizes companies with high social environmental and ethical performance social,

Brookfield employees in Toronto volunteer with Habitat for Humanity

• We are a committed philanthropic partner and we encourage our employees to be active volunteers in the communities in which we operate 71

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