Brookfield Renewable Partners Raises C$150 Million in Preferred Unit Offering for Green Financing

BROOKFIELD, June 2, 2026 — Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP), the flagship listed energy company of Brookfield Asset Management, announced Monday that it has agreed to issue 6,000,000 5.75% Cumulative Minimum Rate Reset Class A Preferred Limited Partnership Units, Series 19, on a bought deal basis, raising gross proceeds of C$150,000,000. The offering is restricted to Canadian investors and is not available for distribution to U.S. persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act and any applicable state securities laws.

Deal Structure and Offering Terms

The Series 19 Preferred Units will be issued at C$25.00 per unit and carry a 5.75% annual cumulative distribution, paid quarterly, through an initial period ending July 31, 2031. After that date, the distribution rate will reset every five years at the greater of the 5-year Government of Canada bond yield plus 2.65%, or 5.75% — a structure that provides investors with a coupon floor while retaining upside if benchmark rates rise.

Holders will also have the option to reclassify their Series 19 Preferred Units into Cumulative Floating Rate Reset Class A Preferred Limited Partnership Units, Series 20, beginning July 31, 2031 and every five years thereafter. Series 20 units would carry a floating distribution rate equal to the 90-day Canadian Treasury Bill yield plus 2.65%.

The Series 19 Preferred Units are redeemable on July 31, 2031 and on each Series 19 Reclassification Date thereafter.

Underwriting Syndicate

The bought deal is led by Scotiabank, with BMO Capital Markets, CIBC Capital Markets, National Bank of Canada, RBC Capital Markets, and TD Securities Inc. serving as joint bookrunners. Brookfield Renewable has granted the underwriting syndicate an over-allotment option, exercisable until 48 hours prior to closing, to purchase up to an additional 2,000,000 Series 19 Preferred Units. If exercised in full, the total gross offering size would increase to C$200,000,000.

The offering will be made in all provinces and territories of Canada by way of a prospectus supplement to Brookfield Renewable's existing Canadian short form base shelf prospectus dated September 26, 2025. The prospectus supplement and corresponding base shelf prospectus are expected to be accessible through SEDAR+ within two business days of the announcement. The offer and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to United States persons absent registration or an applicable exemption from the registration requirements.

The offering is expected to close on or about June 9, 2026.

Green Financing Framework and Use of Proceeds

Brookfield Renewable stated it intends to use the net proceeds to fund Eligible Investments as defined under its 2024 Green Financing Framework, including the repayment of indebtedness incurred in connection with such investments. The Green Financing Framework is available on Brookfield Renewable's website and is described in the prospectus supplement for the offering.

Brookfield Renewable operates one of the world's largest publicly traded platforms for renewable power and sustainable solutions. Its renewable power portfolio spans hydroelectric, wind, utility-scale solar, distributed solar, and storage facilities. Its sustainable solutions assets include an investment in a global nuclear services business and a portfolio of investments in carbon capture and storage capacity, agricultural renewable natural gas, materials recycling, and eFuels manufacturing capacity.

Brookfield Asset Management Context

Brookfield Renewable is the flagship listed energy company of Brookfield Asset Management, a global alternative asset manager headquartered in New York with over $1 trillion of assets under management. Investors can access Brookfield Renewable's portfolio through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation.

The offering is not an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such offer, solicitation, or sale would be unlawful. The securities have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus or prospectus supplement.

Media inquiries may be directed to Simon Maine, Managing Director – Corporate Communications, at simon.maine@brookfield.com or +44 7398-909-278. Investor inquiries may be directed to Alex Jackson, Vice President – Investor Relations, at alexander.jackson@brookfield.com or 416-484-8525.

Sources

Brookfield Renewable Partners L.P. press release, June 2, 2026: https://bep.brookfield.com/press-releases/bep/brookfield-renewable-issue-c150-million-575-preferred-units