Partners Value Investments Inc. Announces Q2 2026 Interim Results

TORONTO, Aug. 14, 2026 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Company”, TSXV: PVF.PR.V, PVF.A) announced today its financial results for the three and six months ended June 30, 2026. All amounts are stated in United States dollars (“US dollars”).

The Company recorded a net loss of $145 million for the three months ended June 30, 2026, compared to a net loss of $135 million in the prior year period. The increase in net loss was primarily due to higher remeasurement losses associated with the Company’s exchangeable shares and warrants of $35 million and $16 million, respectively, compared to remeasurement gains of $21 million and $119 million in the prior year period, respectively, partially offset by lower remeasurement losses associated with the Company’s retractable common shares of $126 million compared to $247 million in the prior year period, and foreign currency gains of $21 million compared to foreign currency losses of $40 million in the prior year period.

The Company recorded net income of $752 million for the six months ended June 30, 2026, compared to $837 million in the prior year period. The decrease in net income was primarily due to lower remeasurement gains associated with the Company’s retractable common shares, exchangeable shares and warrants of $586 million, $1 million and $109 million, respectively, compared to remeasurement gains of $706 million, $21 million and $116 million, respectively, in the prior year period, partially offset by foreign currency gains of $32 million compared to foreign currency losses of $40 million in the prior year period.

The Company’s retractable common shares, exchangeable shares and warrants are classified as liabilities due to their retractable, exchangeable and convertible features, respectively. The remeasurement gains or losses on retractable common shares and exchangeable shares in a given period are driven by the respective depreciation or appreciation of the Partners Value Investments L.P.’s Equity LP unit (“Equity LP unit”) price. The remeasurement gains or losses on warrants in a given period are driven by the respective depreciation or appreciation of the market price of a warrant. The Company’s outstanding warrants expired on June 30, 2026, in accordance with the warrant terms.

Adjusted Earnings is a non-IFRS measure that can be used to evaluate the performance of the Company, defined as net income (loss) attributable to the Company, excluding the impact of remeasurement gains (losses) on retractable common shares, exchangeable shares, and warrant liability, as well as dividends paid on retractable common shares.

The Company recorded Adjusted Earnings of $39 million for the three months ended June 30, 2026, compared to a loss in Adjusted Earnings of $21 million in the prior year period. Adjusted Earnings increased due to favourable foreign currency movements as a result of the depreciation of the Canadian dollar against the US dollar and higher investment income, partially offset by valuation losses on our investment portfolio and higher preferred share dividends as a result of net new issuances compared with the prior year period.

The Company recorded Adjusted Earnings of $71 million for the six months ended June 30, 2026, compared to $9 million in the prior year period. Adjusted Earnings increased primarily due to the same factors described above.

As at June 30, 2026, the market prices of a Brookfield Corporation (“BN”, NYSE/TSX: BN) share and a Brookfield Asset Management Ltd. (“BAM”, NYSE/TSX: BAM) share were $42.59 and $44.85, respectively. As at August 14, 2026, the market prices of a BN share and a BAM share were $43.85 and $54.31, respectively.

The Company’s principal investments are its interest in 181 million Class A Limited Voting Shares of BN and approximately 26 million Class A Limited Voting Shares of BAM, which it received pursuant to the spin-off of Brookfield Asset Management Ltd. from Brookfield Corporation in 2022 (collectively, the “Brookfield Shares”). This represents approximately an 8% interest in BN and a 2% interest in BAM as at June 30, 2026. In addition, the Company owns a diversified investment portfolio of marketable securities and private fund interests.

The information in the following table has been extracted from the Company’s Unaudited Interim Condensed Consolidated Statements of Financial Position: