Brookfield Renewable Announces at-the-Market Equity Issuance Program

Executive Summary

• Brookfield Renewable announced an “at‑the‑market” (ATM) program allowing the issuance 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

• Maximum Offering Size: Up to US$400 million (or CAD equivalent) of BEPC Shares.
• Share Type: Class A exchangeable subordinate voting shares of BEPC; each share is exchangeable 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.
• Program Mechanics:
• Shares may be sold at prevailing market prices on the Toronto Stock Exchange, NYSE, or any other qualified marketplace in Canada or the U.S.
• Sale price will vary by purchaser and over time.
• Flexibility to issue shares when market conditions are favorable.
• Distribution Agreement: Dated January 12 2026 with Canadian agents BMO Nesbitt Burns Inc., TD Securities Inc., and U.S. agents BMO Capital Markets Corp., TD Securities (USA) LLC.
• Termination Conditions: The ATM program ends on the earliest of:
• Sale of all authorized BEPC Shares,
• Termination of the Distribution Agreement by BEPC or the Agents,
• February 24 2027.
• Regulatory Filings:
• 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 base prospectus filed on Form F‑3 (effective Apr 2 2025).
• Access to Documents: Prospectuses and Distribution Agreement available via SEDAR+ (Canada) and EDGAR (U.S.) or by contacting the listed agents.

Notable Quotes

(No direct CEO/President quotes were included in the release.)