RE: Proposal of Brookfield Asset Management Inc. (“Brookfield”)Letter Agreement • February 25th, 2010 • Pershing Square Capital Management, L.P. • Real estate investment trusts
We appreciate your agreement to provide Brookfield with the letter agreement they required as a condition to making the proposal they are making today. In consideration for your agreement, we hereby amend paragraph 3(b) of our letter agreement, dated June 5, 2009 (the “Letter Agreement”), to read as follows: “(b) seek to ensure that your and their public statements regarding GGP, its management, the Board or any possible restructuring or alternative transaction involving GGP or any of its direct or indirect subsidiaries are coordinated in advance with GGP”.
