Brookfield Renewable Announces Plan to Simplify Corporate Structure

Brookfield Renewable Partners L.P. (BEP) and Brookfield Renewable Corporation (BEPC) announced plans to simplify their corporate structure by converting into a single publicly traded corporation, Brookfield Renewable Partners Inc. (BEP Inc.). This simplification is expected to enhance investor accessibility, increase index demand, and provide a traditional corporate ownership structure, ultimately strengthening Brookfield Renewable's long-term position and creating value for investors. The process is anticipated to be tax-deferred for Canadian and U.S. investors and completed with minimal cost. Key benefits include improved trading liquidity, increased index demand, simplified investor analysis, broader investor access, enhanced governance, and elimination of complex tax reporting for BEP unitholders. The plan involves exchanging BEP units and BEPC shares for new BEP Inc. shares on a one-for-one basis, subject to unitholder and shareholder approval at special meetings scheduled for October 14, 2026. Completion is expected in the fourth quarter of 2026, with no change to Brookfield's ownership. BEP's preferred units and public debt will remain unaffected. The Boards of Directors of both BEP and BEPC have unanimously approved the Simplification and recommend its approval by securityholders. Legal and financial advisors have been engaged, and further details will be provided in a joint management information circular.