Brookfield Renewable Corporation and Brookfield Renewable Partners L.P. have commenced an at-the-market equity distribution offering of up to $400 million USD (approximately C$555 million) of Class A Exchangeable Subordinate Voting Shares. The offering, dated January 12, 2026, operates through a distribution agreement with agents BMO Nesbitt Burns Inc., TD Securities Inc., BMO Capital Markets Corp., and TD Securities (USA) LLC, who will receive compensation of up to 2% of gross offering proceeds.

The exchangeable shares will be sold at prevailing market prices on the Toronto Stock Exchange and New York Stock Exchange, with no minimum fundraising requirement. Each share is exchangeable for one limited partnership unit of Brookfield Renewable Partners L.P. or its cash equivalent. The company intends to use net proceeds to facilitate repurchases by the Partnership under its normal course issuer bid and for general corporate purposes.

Torys LLP serves as counsel to the issuers for Canadian and U.S. law matters, while McMillan LLP acts as British Columbia counsel and Appleby (Bermuda) Limited as Bermuda counsel. Goodmans LLP and Milbank LLP represent the agents for Canadian and U.S. law respectively. The offering follows the Partnership's November 2025 completion of a public offering of 15,050,200 LP Units at $29.90 per unit, generating approximately $630 million in proceeds alongside a concurrent private placement.