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

INTRODUCTION AND USE OF CERTAIN TERMSWe have prepared this Form 20-F using a number of conventions, which you should consider whenreading the information contained herein. Unless otherwise indicated or the context otherwise requires, in thisForm 20-F:• the disclosure assumes that the spin-off has been completed;• operating and other statistical information with respect to our portfolio is presented as of March 31,2012, as if we owned our portfolio as of such date although we will not acquire the commercialproperty operations of Brookfield Asset Management until shortly before the spin-off;• all operating and other statistical information is presented as if we own 100% of each property inour portfolio, regardless of whether we own all of the interests in each property, but unlessotherwise specified excludes interests in Brookfield-sponsored real estate opportunity and financefunds and our interest in Canary Wharf Group plc, or Canary Wharf;• all financial information is presented in accordance with International Financial ReportingStandards as issued by the International Accounting Standards Board, or IFRS, other than certainnon-IFRS financial measures which are defined under “Use of Non-IFRS Measures”; and• the disclosure on Brookfield Asset Management’s ownership in our business following the spin-offdoes not reflect the nominal amount of our units that Brookfield Asset Management will withholdin connection with the satisfaction of Canadian federal and U.S. “backup” withholding taxrequirements for non-Canadian registered shareholders.In this Form 20-F, unless the context suggests otherwise, references to “we”, “us” and “our” are to ourcompany, the Property Partnership, the Holding Entities and the operating entities, each as defined below, takentogether. Unless the context suggests otherwise, in this Form 20-F references to:• an “affiliate” of any person are to any other person that, directly or indirectly through one or moreintermediaries, controls, is controlled by or is under common control with such person;• “assets under management” are to assets managed by us or by Brookfield on behalf of our thirdparty investors, as well as our own assets, and also include capital commitments that have not yetbeen drawn. Our calculation of assets under management may differ from that employed by otherasset managers and, as a result, this measure may not be comparable to similar measures presentedby other asset managers;• “Australia” are to Australia and New Zealand;• the “BPY General Partner” are to the general partner of our company, which prior to the spin-offwill be 1648285 Alberta ULC, a wholly-owned subsidiary of Brookfield Asset Management, andfollowing completion of the spin-off will be Brookfield Property Partners Limited, a wholly-ownedsubsidiary of Brookfield Asset Management;• “Brookfield” are to Brookfield Asset Management and any subsidiary of Brookfield AssetManagement, other than us;• “Brookfield Asset Management” are to Brookfield Asset Management Inc.;• “our business” are to our business of owning, operating and investing in commercial property, bothdirectly and through our operating entities;• “our company” or “our partnership” are to Brookfield Property Partners L.P., a Bermuda exemptedlimited partnership;• “commercial property” or “commercial properties” are to commercial and other real property whichgenerates or has the potential to generate income, including office, retail, multi-family andindustrial assets, but does not include, among other things, residential land development, homebuilding, construction, real estate advisory and other similar operations or services;1