Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 117

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 7
Chunk 117
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 broader business interests in light of its ownership of 100% of our limited partnership interests.

The discussion below describes certain of the actual and potential conflicts of interest that are expected to arise between Brookfield Activities, on the one hand, and Brookfield’s management of our partnership and Brookfield Accounts in which we invest, on the other hand. These conflicts of interest are not a complete list or explanation of all actual and potential conflicts of interest that could arise, including those that are not presently known to Brookfield or are deemed immaterial. In addition, as Brookfield’s activities and the investment programs of our partnership and Brookfield Accounts in which we invest change over time, an investment in our partnership may be subject to additional and different actual and potential conflicts of interest. While Brookfield acts in good faith to manage and resolve conflict of interest considerations, taking into account the facts and circumstances known to it at the time, there can be no assurance that any recommendation or determination made by Brookfield will be most beneficial or favorable to us or Brookfield Accounts in which we invest, or would not have been different if additional information were available to it. In particular, as noted elsewhere, given that we are a wholly-owned subsidiary of Brookfield, it will take its broader interests into account when making decisions for BPY and will likely make

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recommendations and determinations that are different than those taken for Brookfield advisory clients or that it would make under different circumstances.

Additional information about conflicts of interest considerations regarding Brookfield’s management of its asset management business is set forth in Brookfield’s Form ADV (which is available on the SEC’s website at www. adviserinfo. sec. gov, which prospective investors should review prior to investing in BPY and current investors should review on an annual basis. However, the Brookfield Form ADV is not part of this annual report, and BPY is not an advisory client of Brookfield, thus any fiduciary duties owed to Brookfield advisory clients described forth therein do not apply to BPY. Such conflicts of interest include (but are not limited to):

• Advice to certain Brookfield Accounts may conflict with other Brookfield Accounts’ interests;

• Allocation of personnel;

• Data management;

• Conflicts among portfolio companies and Brookfield Accounts;

• Investment platforms;

• Pricing for investments in securities of affiliated issuers;

• Financing to counterparties of Brookfield Accounts;

• Investments by Brookfield personnel;

• Investments by Brookfield’s investing affiliate;

• Activities of Brookfield’s Public Securities Group;

• Brook