|    |                         |
|----|-------------------------|
| 1. | Amendments to Article 1 |

|     |                                                                                  |
|-----|----------------------------------------------------------------------------------|
| (a) | Section 1.1.5 is hereby deleted in its entirety and replaced with the following: |

|     |                                                                                   |
|-----|-----------------------------------------------------------------------------------|
| (b) | Section 1.1.23 is hereby deleted in its entirety and replaced with the following: |

|     |                                                                    |
|-----|--------------------------------------------------------------------|
| (c) | Section 1.1 is hereby amended by adding the following definitions: |

|    |                                                                      |
|----|----------------------------------------------------------------------|
| 2. | This Amendment shall be effective upon the date first written above. |

|    |                                                                                                                                                             |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | This Amendment shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. |

|    |                                                                                                             |
|----|-------------------------------------------------------------------------------------------------------------|
| 4. | Except as modified herein, all terms and conditions of the Agreement shall remain in full force and effect. |

|    |                                                                                                                                                                              |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5. | This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall be construed together as one agreement. |

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|                                                                                                                                               |
|-----------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                               |  |
| BROOKFIELD ASSET MANAGEMENT INC.                                                                                                              |
|                                                                                                                                          |
| By:                                                                                                                                           | /s/ A.J. Silber |
|                                                                                                                                          | Name: A.J. SilberTitle:  Vice President, Legal Affairs |
|                                                                                                                                          |   |
| BROOKFIELD PROPERTY PARTNERS L.P.,By:BROOKFIELD PROPERTY PARTNERS LIMITED, its general partner                                                |
|                                                                                                                                          |
| By:                                                                                                                                           | /s/ Jane Sheere |
|                                                                                                                                          | Name: Jane SheereTitle:   Secretary |
|                                                                                                                                          |   |
| BROOKFIELD PROPERTY L.P.By:BROOKFIELD PROPERTY PARTNERS L.P., its general partnerBy:BROOKFIELD PROPERTY PARTNERS LIMITED, its general partner |
|                                                                                                                                          |
| By:                                                                                                                                           | /s/ Jane Sheere |
|                                                                                                                                          | Name: Jane SheereTitle:   Secretary |
|                                                                                                                                          |   |
| BROOKFIELD GLOBAL PROPERTY ADVISOR LIMITED                                                                                                    |
|                                                                                                                                          |   |
| By:                                                                                                                                           | /s/ James Tuckey |
|                                                                                                                                          | Name: James TuckeyTitle:   Director |
|                                                                                                                                          |   |
| BROOKFIELD PROPERTY GROUP LLC                                                                                                                 |
| By:                                                                                                                                           | /s/ Murray Goldfarb |
|                                                                                                                                          | Name: Murray GoldfarbTitle:   Senior Vice President |

----

|                                                                           |
|---------------------------------------------------------------------------|
|                                                                           |  |
| BROOKFIELD ASSET MANAGEMENT PRIVATE INSTITUTIONAL CAPITAL ADVISER US, LLC |
| By:                                                                       |  /s/ Mark Srulowitz |
|                                                                      | Name: Mark SrulowitzTitle:  Secretary |
|                                                                      |   |
| BPG HOLDINGS GROUP INC.                                                   |
| By:                                                                       | /s/ Sujoy Gupta |
| Name: Sujoy GuptaTitle:  Vice President                                   |
|                                                                      |
| BROOKFIELD BPY HOLDINGS INC.                                              |
| By:                                                                       | /s/ Michelle Campbell |
| Name: Michelle CampbellTitle:   Secretary                                 |
|                                                                      |
| BPY BERMUDA HOLDINGS LIMITED                                              |
| By:                                                                       | /s/ Jane Sheere |
|                                                                      | Name: Jane SheereTitle:   Secretary |
|                                                                      |   |
| BPY BERMUDA HOLDINGS II LIMITED                                           |
| By:                                                                       | /s/ Jane Sheere |
|                                                                      | Name: Jane SheereTitle:   Secretary |

|                                           |
|-------------------------------------------|
|                                           |  |
| BROOKFIELD BPY PROPERTY HOLDINGS I LLC    |
| By:                                       | /s/ Michelle Campbell |
|                                      | Name: Michelle L. CampbellTitle:   Secretary |
|                                      |   |
| BROOKFIELD BPY PROPERTY HOLDINGS III LLC  |
| By:                                       | /s/ Michelle Campbell |
| Name: Michelle CampbellTitle:   Secretary |
|                                      |
| BROOKFIELD BPY RETAIL HOLDINGS I LLC      |
| By:                                       | /s/ Jane Sheere |
| Name: Jane SheereTitle:   Secretary       |
|                                      |
| BROOKFIELD BPY RETAIL HOLDINGS IV LLC     |
| By:                                       | /s/ Jane Sheere |
|                                      | Name: Jane SheereTitle:   Secretary |
|                                      |   |
| BPY BERMUDA HOLDINGS III LIMITED          |
| By:                                       | /s/ Jane Sheere |
|                                      | Name: Jane SheereTitle:   Secretary |

----

|                                        |
|----------------------------------------|
|                                        |  |
| BROOKFIELD BPY RETAIL HOLDINGS II INC. |
| By:                                    | /s/ Michelle Campbell |
|                                   | Name: Michelle CampbellTitle:   Secretary |