Management Services Agreement

Management Services Agreement

Brookfield Real Estate Services Inc. (the “Company”) is party to a Management Services Agreement (“MSA”) with Brookfield Real Estate Services Manager Limited (the “Manager”). Under the terms of the MSA, the Manager provides all management services and operation activities necessary for the Company to conduct its business. The Manager receives a fee of 20% of cashflow from operations (before the management fee) for the services it provides to the Company.

The senior management team of the Manager is responsible for managing the Royal LePage and Johnston and Daniel network of REALTORS®* and oversees the management of the Via Capitale network of REALTORS®*.

In addition to the management fee paid to the Manager, the cash operating costs of the Company include administration costs associated with being a public company and carrying costs associated with the Company’s debt.

*REALTORS® is a trademark identifying real estate licensees in Canada who are members of the Canadian Real Estate Association.

© 2015 Brookfield Real Estate Services Inc.