Brookfield Renewable Announces at-the-Market Equity Issuance Program

Executive Summary

• Brookfield Renewable announced an “at the market” (ATM) equity issuance program allowing the sale of up to US$400 million (or CAD equivalent) of Class A exchangeable subordinate voting shares of Brookfield Renewable Corporation (“BEPC Shares”).
• Net proceeds, if any, are intended primarily to fund repurchases of non‑voting limited partnership units (“LP Units”) by Brookfield Renewable Partners L.P. under its normal course issuer bid (NCIB) program and for general corporate purposes.
• The ATM Program is structured to be non‑dilutive, with the combined number of LP Units and BEPC Shares expected to remain generally unchanged, though temporary fluctuations may occur during issuances and repurchases.

Key Details

• Program Size: Up to US$400 million (or CAD equivalent) of BEPC Shares may be offered and sold at the company’s discretion.
• Share Structure: BEPC Shares are exchangeable at the holder’s option for one LP Unit (subject to adjustment) or its cash equivalent.
• Use of Proceeds:
• Repurchase of non‑voting LP Units by Brookfield Renewable Partners L.P. under its NCIB program.
• General corporate purposes.
• Distribution Mechanics:
• Shares may be sold on the Toronto Stock Exchange, New York Stock Exchange, or any other marketplace where BEPC Shares trade.
• Sale prices will vary with market conditions and purchaser negotiations.
• Agents & Agreements:
• Equity distribution agreement dated January 12 2026 with Canadian agents BMO Nesbitt Burns Inc. and TD Securities Inc., and U.S. agents BMO Capital Markets Corp. and TD Securities (USA) LLC.
• Sales conducted under National Instrument 44‑102 (Canada) and Rule 415 (U.S.).
• Program Termination: The ATM Program will terminate upon the earlier of:
  1. Sale of all BEPC Shares subject to the Distribution Agreement,
  2. Termination of the Distribution Agreement by BEPC or the Agents, or
  3. February 24 2027.
• Prospectus Supplements:
• Canadian prospectus supplement (dated Jan 12 2026) to the short‑form base shelf prospectus dated Jan 23 2025.
• U.S. prospectus supplement (dated Jan 12 2026) to the U.S. base prospectus filed on Form F‑3 (effective Apr 2 2025).
• Access to Documents: Prospectuses and the Distribution Agreement are available via SEDAR+ (Canada) and EDGAR (U.S.). Contact information for obtaining documents is provided in the release.

Notable Quotes

(No direct quotes from executives were included in the release.)