Brookfield Renewable Corporation · NYSE:BEPC
Brookfield Renewable — Brookfield Renewable Partners L.P. Limited Partnership Units — Q4 2025 Earnings Presentation
40 slides from Brookfield Renewable's earnings presentation, Jan 30, 2026
Slide 1: Q4 Supplemental Information, Year Ended December 31, 2025
Brookfield —— 2025 —— Brookfield Renewable Partners L.P. Q4 SUPPLEMENTAL INFORMATION Year Ended December 31, 2025
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Supplemental Information contains forward-looking statements and information, within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of
Slide 3: 2025 Highlights
2025 Highlights $1.3B 10% $4.6B (MILLIONS, EXCEPT AS NOTED) 2025 2024 AVAILABLE FUNDS FROM FFO PER UNIT Selected Financial Information OPERATIONS INCREASE LIQUIDITY Revenues $ 6,407 $ 5,876 Proportionate Adjusted EBITDA(1) 2,698 2,408 FFO(1) 1,334 1,217 PERFORMANCE HIGHLIGHTS Normalized FFO(1)(2) 1,
Slide 4: 2025 Highlights (cont'd)
2025 Highlights (cont’d) OPERATIONS LIQUIDITY AND CAPITAL RESOURCES (cont'd) • Continue to be the global partner of choice to procure clean power – We successfully completed over $37 billion in financings in 2025, – In 2025, we advanced commercial priorities, securing favorable a record for our busi
Slide 5: About Brookfield Renewable
About Brookfield Renewable We are a global leader in decarbonization, with diverse, integrated operating platforms on five continents with operating, development and power marketing expertise ~$145 billion ~47,200 TOTAL POWER AND SUSTAINABLE MEGAWATTS OF TOTAL SOLUTIONS ASSETS(6) OPERATING CAPACITY
Slide 6: Overview of Our Operations
Overview of Our Operations Our global diversified portfolio of power assets, of which renewables makes up over 96%, has approximately 47,200 MW of operating capacity, annualized LTA generation of approximately 121,900 GWh and a development pipeline of over 200 GW. The table below outlines our portfo
Slide 7: Diversified, stable and inflation-linked cash flows
Diversified, stable and inflation-linked cash flows Weighted to developed markets and the lowest-cost renewable technologies ~90% of generation, on a proportionate basis, is contracted for an average term of 13 years ~70% of revenues indexed to inflation FFO by Technology FFO by Region (proportionat
Slide 8: Strong Track Record of Growth
Strong Track Record of Growth We target 10%+ FFO per unit growth per year. Over the past 10+ years we have delivered consistent growth for our unitholders, supporting our distribution $1,334 11% CAGR $347 2012(15) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 CAGR FFO (US$ M)(1)(1
Slide 9: Distributions have grown at a compound annual growth rate of 6%
Distributions have grown at a compound annual growth rate of 6% • We target a long-term distribution growth rate in the range of 5% to 9% annually • Given our strong outlook and financial position, our Board of Directors have declared an over 5% increase in our quarterly distributions, bringing our
Slide 10: Generation and Financial Review
Generation and Financial Review For the Year Ended December 31
Slide 11: Performance Measurement
Performance Measurement Segmented Information Brookfield Renewable operations are segmented by – 1) hydroelectric, 2) wind, 3) utility-scale solar, 4) distributed energy and storage (distributed generation, pumped storage and battery energy storage systems), 5) sustainable solutions (renewable natur
Slide 12: Financial Results for the Year Ended December 31
Financial Results for the Year Ended December 31 For each operating segment, this Supplemental Information outlines Brookfield Renewable’s proportionate share of results in order to demonstrate the impact of key value drivers of each operating segment on the partnership’s overall performance. (GWh)
Slide 13: Hydroelectric Operations
Hydroelectric Operations FINANCIAL RESULTS The following table presents our proportionate results for the years ended December 31: FFO across our hydroelectric businesses totaled $607 million: • FFO at our North American business was $378 million versus $300 million 2025 2024 in the prior year drive
Slide 14: Wind and Utility-scale Solar
Wind and Utility-scale Solar The following table presents the proportionate results for our The following table presents the proportionate results for our Wind business for the years ended December 31: Utility-scale solar business for the years ended December 31: (MILLIONS, EXCEPT AS NOTED) 2025 202
Slide 15: Distributed energy & storage, Sustainable solutions and Corporate
Distributed energy & storage, Sustainable solutions and Corporate The following table presents the proportionate results for our The following table presents Corporate results for the years ended Distributed energy and storage business for the years ended December 31: December 31: (MILLIONS, EXCEPT
Slide 16: Capitalization and Available Liquidity
Capitalization and Available Liquidity CAPITALIZATION AVAILABLE LIQUIDITY A key element of our financing strategy is to raise the majority of our debt We operate with sufficient liquidity to enable us to fund growth in the form of asset-specific, non-recourse borrowings at our subsidiaries initiativ
Slide 17: Borrowings
Borrowings The following table summarizes our undiscounted principal and scheduled amortization repayments on a proportionate basis: (MILLIONS) 2026 20273 20285 2029 2030 Thereafter Total Principal repayments(19) Medium-term notes(20) $ — $ 364 $ — $ 346 $ 346 $ 2,131 $ 3,187 Hybrid notes(20) — — —
Slide 18: Contract Profile
Contract Profile The following table sets out our contracts over the next five years for generation output in North America, Brazil, Europe, and other countries in Asia-Pacific on a proportionate basis, assuming long-term average. The table excludes Brazil and Colombia hydroelectric portfolios, wher
Slide 19: Development Profile
Development Profile We expect to deliver ~$470 million of annualized FFO from our recently developed, under construction or construction-ready and advanced stage development assets The following table summarizes the 8,071 MW of assets that reached commercial operations during 2025: Annualized Expect
Slide 20: Distribution Payout Ratio
Distribution Payout Ratio Our objective is to pay a distribution that is sustainable on a long-term basis while retaining sufficient liquidity within our operations to fund growth. We fund our growth initiatives through a combination of preferred equity, perpetual subordinated notes and corporate de
Slide 21: Financial Results for the Three Months Ended December 31
Financial Results for the Three Months Ended December 31 For each operating segment, this Supplemental Information outlines Brookfield Renewable’s proportionate share of results in order to demonstrate the impact of key value drivers of each operating segment on the partnership’s overall performance
Slide 22: Appendix 1 – Reconciliation of Non-IFRS Measures
Appendix 1 – Reconciliation of Non-IFRS Measures
Slide 23: Segment Reconciliation on a Proportionate Basis – Year Ended December 31, 2025
Segment Reconciliation on a Proportionate Basis – Year Ended December 31, 2025 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the year ended December 31, 2025: Attributable to Unitholders Contribution Attributable to Distributed from equit
Slide 24: Segment Reconciliation on a Proportionate Basis – Year Ended December 31, 2024
Segment Reconciliation on a Proportionate Basis – Year Ended December 31, 2024 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the year ended December 31, 2024: Attributable to Unitholders Contribution Attributable to Distributed from equit
Slide 25: Reconciliation of Non-IFRS Measures
Reconciliation of Non-IFRS Measures The following table reconciles the non-IFRS financial measures to the most directly comparable IFRS measures. Net income (loss) is reconciled to Adjusted EBITDA for the year ended December 31, 2025: Hydroelectric Distributed UNAUDITED North Utility-scale energy &
Slide 26: Reconciliation of Non-IFRS Measures
Reconciliation of Non-IFRS Measures The following table reconciles the non-IFRS financial measures to the most directly comparable IFRS measures. Net income (loss) is reconciled to Adjusted EBITDA for the year ended December 31, 2024: Hydroelectric Distributed UNAUDITED North Utility-scale energy &
Slide 27: Reconciliation of Non-IFRS Measures
Reconciliation of Non-IFRS Measures The following table reconciles the non-IFRS financial measures to the most directly comparable IFRS measures. Net income (loss) is reconciled to Adjusted EBITDA for the three months ended December 31, 2025: Hydroelectric Distributed UNAUDITED North Utility-scale e
Slide 28: Reconciliation of Non-IFRS Measures
Reconciliation of Non-IFRS Measures The following table reconciles the non-IFRS financial measures to the most directly comparable IFRS measures. Net income (loss) is reconciled to Adjusted EBITDA for the three months ended December 31, 2024: Hydroelectric Distributed UNAUDITED North Utility-scale e
Slide 29: Reconciliation of Non-IFRS Measures
Reconciliation of Non-IFRS Measures The following table reconciles the non-IFRS financial metrics presented in this report to the most directly comparable IFRS measures: Three months ended December 31 Years ended December 31 UNAUDITED (MILLIONS) 2025 2024 2025 2024 Net income (loss) $ 678 $ 188 $ 71
Slide 30: Reconciliation of Non-IFRS Measures (cont'd)
Reconciliation of Non-IFRS Measures (cont'd) The following table reconciles non-IFRS per unit financial metrics to the most directly comparable IFRS measures. Earnings per LP unit is reconciled to FFO per Unit and Normalized FFO per Unit for the year ended December 31: Years ended December 31 2025 2
Slide 31: Appendix 2 – Additional Information
Appendix 2 – Additional Information
Slide 32: Annualized Proportionate Renewable Long-term Average Generation
Annualized Proportionate Renewable Long-term Average Generation GENERATION (GWh)(33) Q1 Q2 Q3 Q4 Total Hydroelectric North America United States 2,142 2,265 1,451 1,906 7,764 Canada 1,045 1,234 990 976 4,245 3,187 3,499 2,441 2,882 12,009 Colombia(10) 1,428 1,551 1,515 1,706 6,200 Brazil 956 968 981
Slide 33: Annualized Consolidated Renewable Long-term Average Generation
Annualized Consolidated Renewable Long-term Average Generation GENERATION (GWh)(8) Q1 Q2 Q3 Q4 Total Hydroelectric North America United States 3,343 3,395 2,208 2,922 11,868 Canada 1,270 1,513 1,246 1,235 5,264 4,613 4,908 3,454 4,157 17,132 Colombia(35) 3,834 4,167 4,069 4,586 16,656 Brazil 1,059 1
Slide 34: Appendix 3 – Presentation to Stakeholders and Performance Measurement
Appendix 3 – Presentation to Stakeholders and Performance Measurement
Slide 35: Presentation to Stakeholders
Presentation to Stakeholders Actual and Long-term Average Generation For assets acquired, disposed or reaching commercial operation during the period, reported generation is calculated from the acquisition, disposition or commercial operation date and is not annualized. “Other” includes generation f
Slide 36: Performance Measurement
Performance Measurement One of our primary business objectives is to generate reliable and growing cash flows while minimizing risk for the benefit of all stakeholders. We monitor our performance in this regard through four key metrics – i) Net Income (Loss), ii) Adjusted Earnings Before Interest, T
Slide 37: Performance Measurement
Performance Measurement • Cash Available for Distribution – Cash Available for Distribution is a non-IFRS measure used by investors to analyze net earnings from operations without the effects of certain volatile items that generally have no current financial impact or items not directly related to t
Slide 38: Endnotes
Endnotes (1) Non-IFRS measures. For reconciliations to the most directly comparable IFRS measure see “Reconciliation of Non-IFRS Measures” and “Cautionary Statement Regarding Use of Non-IFRS Measures”. (2) Normalized FFO assumes long-term average generation in all segments and uses 2024 foreign curr
Slide 39: Endnotes (cont'd)
Endnotes (cont'd) (24) Share of loss from equity-accounted investments of $110 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controllin
Slide 40: BEP BEPC BEP.UN
NYSE: NYSE: BEP BEPC TSX: TSX: BEP.UN BEPC https://bep.brookfield.com https://bep.brookfield.com/bepc
Brookfield Renewable Partners L.P. Limited Partnership Units — Q4 2025 Earnings Presentation on 6ix