OverviewBrookfield Property Partners L.P. (BPY) owns and operates a globally diversified portfolio of high-quality assets that generate sustainable and growing distributions over the long term. With a current yield of 7% and a distribution growth target of 5%–8% annually, BPY offers an attractive risk-adjusted total return to its unitholders.

Brookfield Property REIT (BPYU) is a subsidiary of BPY that offers economic equivalence to an investment in BPY in the form of a U.S. REIT security.

Investment HighlightsGlobally diversified – one of the few publicly traded, global real estate vehicles

Premier quality assets – best-in-class office and retail properties in dynamic markets

Access to a leading asset management group – origination of opportunities through Brookfield’s network and participation in Brookfield-sponsored private real estate funds

Experienced management team with proven track record – demonstrated success of recycling capital and growing returns to unitholders

Brookfield Property Partners

i n v e s t o r f a c t s h e e t

T R A C K R E C O R D O F G R O W T H

PER-UNIT COMPANY FFO AND REALIZED GAINS

PER-UNIT DISTRIBUTION

0.0

0.5

1.0

1.5

2.0

2014 2019

$1.13

$1.577%CAGR

0.0

0.3

0.6

0.9

1.2

1.5

2014 2019

6% CAGR

$1.00

$1.32

F U T U R E D R I V E R S O F G R O W T H

▪ Achieving same-property growth of 2%–3%

▪ Completing active developments on time and budget

▪ Realizing significant earnings from our LP investments

A N A LY S T C O V E R A G E

Q U I C K F A C T SE X C H A N G E SNASDAQ: BPY/BPYUTSX: BPY.UN

938MTOTAL UNITS OUTSTANDING1

$7.6BMARKET CAPITALIZATION1

5%-8%TARGET ANNUAL

DISTRIBUTION GROWTH

86%PAYOUT RATIO

$1.33PER UNIT

DISTRIBUTION

16.5%YIELD1

1. Based on BPY’s closing price of $8.06 on the Nasdaq Stock Market, as of March 31, 2020.

Canaccord Genuity Mark Rothschild

CIBC Dean Wilkinson

Evercore ISI Sheila McGrath

RBC Capital Markets Neil Downey

Scotiabank Mario Saric

Global Scale

1. Trailing 12-month sales per square foot as of February 2020 and reported on a non-NOI-weighted basis.

This fact sheet contains forward-looking statements and information within the meaning of the Canadian provincial securities laws and other “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements can be identified by the use of words such as “growing,” “target” and “expand” or variations of such words and phrases. Although Brookfield Property Partners believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, no assurance is given that such expectations will prove correct. The reader should not place undue reliance on forward-looking statements and information, as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Brookfield Property Partners to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Except as required by law, Brookfield Property Partners does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

C O N T A C TMatt Cherry Senior Vice President, Investor Relations

Tel: 212-417-7488

Email: matthew.cherry@brookfield.com

bpy.brookfield.com

1. At the Brookfield Property Group level which includes assets of BPY and Brookfield-managed funds.

2. Employee figures are as of December 31, 2019. 3. AUM in the Bahamas are included within our

U.S. AUM figure.

$9B

Operating SegmentsC O R E O F F I C E P O R T F O L I O

Class A office assets in gateway markets around the globe

▪ 134 premier properties

▪ 94 million square feet

▪ 93% occupancy

▪ 8.6 year average lease term

C O R E R E T A I L P O R T F O L I O

Represents 8% of the high-quality retail space in the U.S.

▪ 122 best-in-class malls and urban retail properties

▪ Over 120 million square feet

▪ 94.4% occupancy

▪ $651 tenant sales per square foot1

L P I N V E S T M E N T S

Invested in mispriced portfolios and / or properties with significant value-add opportunities

▪ 15,812 multifamily units

▪ 16 full-service hospitality properties

▪ 273 triple-net lease assets

▪ 100 self-storage properties

▪ 136 manufactured housing communities

▪ 357,000 square feet of logistics space

▪ 50 student housing properties

▪ 113 office properties

▪ 42 retail properties

▪ 7 mixed-use properties

C A N A D A

AUM

$35BE U R O P E & M I D D L E E A S T

AUM

$20BA S I A P A C I F I C

AUM

$3BB R A Z I L

AUM

$135BU N I T E D S T A T E S 3

AUM

$202BTOTAL RE AUM1

30OFFICES

22KOPERATING EMPLOYEES2