Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 118

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 7
Chunk 118
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field’s investment in Brookfield Oaktree Holdings, LLC;

• Warehousing investments;

• Limited liability of Brookfield;

• Reputational considerations;

• Brookfield commitment;

• Allocation of expenses;

• Affiliated and related-party services and transactions;

• Transactions among portfolio companies;

• Purchasing insurance on behalf of Brookfield advisory clients;

• Transfers and secondment of employees;

• Shared resources;

• Third-party advisors and consultants;

• Support services;

• Travel expenses;

• Service providers;

• Use of Brookfield arrangements;

• Utilization of credit facilities;

• Other activities of Brookfield and its personnel;

• Determinations of value of assets and liabilities of Brookfield Accounts;

• Diverse interests of investors;

• Side letters;

• Conflicts with issuers of investments;

• Management fee and carried interest;

• Calculation errors for amounts due to Brookfield and/or Brookfield Accounts;

• Structuring of investments and subsidiaries;

• Restrictions on Brookfield Accounts’ activities;

• Transactions with investors; and

• Possible future activities.

However, Brookfield’s ownership of our equity units and the management approach discussed above and in Item 3. D., “ Key Information - Risk Factors - Risks Relating to Our Relationship with Brookfield - Brookfield’s obligations and fiduciary duties to us are significantly limited and we will not receive the same protections and benefits as advisory clients of Brookfield receive” will affect how Brookfield manages and resolves conflicts of interest that will arise in managing our investments, including through transactions with Brookfield advisory clients, such as the provision of financing or other transactions between Brookfield, Brookfield advisory clients, or portfolio companies, on the one hand, and BPY, on the other hand. Brookfield will generally not seek consent for these transactions unless required to do so by law or otherwise determined appropriate in Brookfield’s discretion. This approach to managing conflicts will be different than the approach Brookfield takes for its advisory clients as described in the Brookfield Form ADV. In seeking to manage business activities efficiently, Brookfield has discretion to apply certain restrictions to our investment and other activities, but not to those of its advisory

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clients, taking into account the relevant facts and circumstances it deems appropriate. As a result of the protections under the Advisers Act no longer applying to BPY and our preferred unitholders, and due to Brookfield’s ownership and control of BPY and certain of our subsidiaries, Brookfield’s own interests will influence its conduct and approach to these determinations. It is therefore