Assessment and Changes in Internal Control Over Financial Reporting Disclosure Controls and Procedures Declarations Under the Dutch Act of Financial Supervision RELATED PARTY TRANSACTIONS In October 2012, we agreed to sell the economic interest in our directly held 10% investment in a South American transmission  operation to BIP for proceeds of $235 million, subject to satisfaction of customary conditions. The transaction, which closed  in 2012, was measured at fair value, as determined by an external appraiser, which approximated the carrying value of our  investment. No gain or loss was recorded on the transaction in our consolidated statement of operations.  In December 2012, BRPI, our 69% owned North American land developer and homebuilder, repaid its C$480 million loan to  BPO, using the proceeds from the completion of a senior unsecured debt offering. BRPI paid $35 million of interest to BPO  during the year ended December 31, 2012.  In November 2013, we entered into a $500 million subordinated credit facility with wholly owned subsidiaries of BPY. The  terms of the facility, including the interest rate charged by the Corporation, are consistent with market practice given BPY’s  credit worthiness and the subordination of this facility. This transaction was approved by the independent directors of BPY. The following is a list of significant related party transactions of the Corporation during the years ended December, 31 2012 and  December 31, 2013. In the normal course of operations, we enter into transactions on market terms with related parties, including consolidated  and equity accounted entities, which have been measured at exchange value and are recognized in the consolidated financial  statements, including, but not limited to: manager or partnership agreements; base management fees, performance fees  and incentive distributions; loans, interest and non-interest bearing deposits; power purchase and sale agreements; capital  commitments to private funds; the acquisition and disposition of assets and businesses; derivative contracts; and the construction  and development of assets.  The members of the Corporation’s Corporate Executive Board (as such term is defined in the Dutch Act of Financial Supervision  (the “Dutch Act”) as required by section 5:25d, paragraph 2, under c of the Dutch Act, confirm that to the best of their knowledge: Management, including the Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure  controls and procedures (as defined in the applicable U.S. and Canadian securities laws) as of December 31, 2013. Based on that  evaluation, the Chief Executive Officer and Chief Financial Officer concluded that such disclosure controls and procedures were  effective as of December 31, 2013 in providing reasonable assurance that material information relating to the company and our  consolidated subsidiaries would be made known to them by others within those entities.  Management has evaluated the effectiveness of the company’s internal control over financial reporting as of December 31, 2013  and based on that assessment concluded that, as of December 31, 2013, our internal control over financial reporting was effective.  Refer to Management’s Report on Internal Control over Financial Reporting. There have been no changes in our internal control  over financial reporting during the year ended December 31, 2013 that have materially affected, or are reasonably likely to  materially affect, our internal control over financial reporting. • The 2013 financial statements included in this MD&A give a true and fair view of the assets, liabilities, financial position,  and profit or loss of the Corporation and the undertakings include in the consolidation taken as whole; and • The management report included in this MD&A gives a true and fair review of the information required under section 5:25d,  paragraph 8 and, as far as applicable, paragraph 9 of the Dutch Act regarding the Corporation and the undertakings included  in the consolidation taken as a whole as of December 31, 2013. 76 BROOKFIELD ASSET MANAGEMENT 