FORM 20-F/A Brookfield Property Partners L.P. - Brookfield Asset ...

2.5.3 nothing herein shall limit or restrict the ability of the Brookfield Group to make any investment recommendation or takeany other action in connection with its public securities businesses;2.5.4 nothing herein shall limit or restrict any member of the Brookfield Group from investing in any loans or debt securities orfrom taking any action in connection with any loan or debt security notwithstanding that the underlying collateral is comprisedof or includes Commercial Property provided that the original purpose of the investment was not to acquire a controlling interestin such Commercial Property; and2.5.5 nothing herein shall in any way restrict the Brookfield Group from acquiring or holding an investment of less than 5% ofthe outstanding shares of any publicly traded company or from carrying out any other investment in a company or real estateportfolio where the underlying assets do not principally constitute Commercial Property.2.6 Limitations on Acquisition OpportunitiesEach of the parties acknowledges and agrees that (i) the BPY Group’s ability to grow will depend in part on the BrookfieldGroup’s ability to identify and present the BPY Group with acquisition opportunities, and (ii) there are a number of factors whichcould materially and adversely impact the extent to which acquisition opportunities are made available to the BPY Group by theBrookfield Group, including:2.6.1 the Brookfield Group will only recommend acquisition opportunities that it believes, in its sole discretion, are suitable forthe BPY Group;2.6.2 the same professionals within the Brookfield Group’s organization who are involved in acquisitions of CommercialProperty have other responsibilities within the Brookfield Group’s broader asset management business, and the limits on theavailability of such individuals will likewise result in a limitation on the availability of acquisition opportunities for the BPYGroup;2.6.3 members of the Brookfield Group may consider certain assets or operations that have both infrastructure relatedcharacteristics and commercial property related characteristics to be infrastructure and not commercial property;2.6.4 members of the Brookfield Group may not consider an acquisition of Commercial Property that comprises part of abroader enterprise to be suitable for the BPY Group, unless the primary purpose of such acquisition, as determined byBrookfield acting in good faith, is to acquire the underlying Commercial Property;2.6.5 legal, regulatory, tax and other commercial considerations will be an important factor in determining whether anopportunity is suitable for the BPY Group; and2.6.6 in addition to structural limitations, the determination of whether a particular acquisition is suitable for the BPY Group ishighly subjective and is dependent on a number of factors including the BPY Group’s liquidity position at the time, the riskprofile of the opportunity, its fit with the balance of the BPY Group’s then current operations and other factors.-10 -