Brookfield Renewable to Issue C$150 Million of 5.75% Preferred Units

• Brookfield Renewable Partners L.P. announced a bought-deal offering of 6,000,000 Series 19 Preferred Limited Partnership Units at C$25.00 per unit, raising C$150 million in gross proceeds.
• The preferred units carry a 5.75% annual cumulative fixed distribution rate, with a mandatory reset mechanism every five years starting July 31, 2031.
• An over-allotment option allows the underwriters to purchase up to 2,000,000 additional units, potentially increasing gross proceeds to C$200 million.
• Net proceeds will be allocated to fund eligible investments under the company's 2024 Green Financing Framework, including debt repayment.
• The offering is expected to close around June 9, 2026, and is led by a syndicate of major Canadian banks.

• The issuance of preferred units is a standard, expected capital-raising activity for a utility-scale renewable operator with a heavy development pipeline.
• The 5.75% distribution rate aligns with current market conditions for investment-grade preferred securities and does not represent a pricing anomaly.
• Proceeds will directly support the company's aggressive capital recycling strategy and fund the upcoming Boralex acquisition (expected to close Q4 2026).
• The financing strengthens the balance sheet, maintains the BBB+ investment-grade rating, and provides liquidity without immediate equity dilution.
• This is a routine follow-up to previous financings (C$500M green bonds in Jan 2026, $650M equity raise in Nov 2025, and the $400M ATM program in Jan 2026). It does not alter the fundamental growth thesis but confirms management's disciplined capital allocation.

• Brookfield Renewable Partners L.P. is a global leader in renewable power, operating a diversified portfolio of hydroelectric, wind, solar, and battery storage assets across North America, South America, Europe, and Asia.
• Flagship initiatives include the acquisition of Boralex (4,000 MW operating/under-construction assets and an ~8,000 MW development pipeline), the Westinghouse nuclear partnership for AP1000 reactor deployment, and a highly active capital recycling program.
• The company targets delivering ~10,000 MW of new capacity annually starting in 2027, supported by a robust development pipeline of ~84,000 MW.
• Revenue is primarily secured through long-term Power Purchase Agreements (PPAs) and contracted power sales, providing stable, inflation-linked cash flows.