Brookfield Renewable Corporation · NYSE:BEPC
Brookfield Renewable — Brookfield Renewable Partners L.P. Limited Partnership Units — Q3 2024 Earnings Presentation
41 slides from Brookfield Renewable's earnings presentation, Nov 8, 2024
Slide 1: Brookfield Renewable Partners L.P. Q3 Supplemental Information
Brookfield —— 2024—— Brookfield Renewable Partners L.P. Q3 SUPPLEMENTAL INFORMATION
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: Q3 2024 Highlights
Q3 2024 Highlights (MILLIONS, EXCEPT AS NOTED) Three months ended 2024 2023 Nine months ended 2024 2023 $278M 11% $4.6B Select Financial Information FUNDS FROM FFO PER UNIT AVAILABLE Revenues 1,470 1,179 4,444 3,715 OPERATIONS INCREASE LIQUIDITY Net loss attributable to Unitholders (181) (64) (455)
Slide 4: Q3 2024 Highlights (cont'd)
Q3 2024 Highlights (cont’d) OPERATIONS LIQUIDITY AND CAPITAL RESOURCES (cont'd) • Continued to be one of the partners of choice to procure clean power – Our joint venture with over 2 GW of pumped storage capacity where we – Advanced commercial initiatives securing contracts to deliver an worked with
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 ~$104 billion ~35,200 TOTAL POWER AND SUSTAINABLE MEGAWATTS OF TOTAL SOLUTIONS ASSETS(1) OPERATING CAPACITY
Slide 6: A Global Leader in Decarbonization
A Global Leader in Decarbonization 6
Slide 7: Overview of Our Operations
Overview of Our Operations Our global diversified portfolio of renewable power assets, which makes up over 97% of our business, has approximately 35,200 MW of operating capacity and annualized LTA generation of approximately 95,000 GWh and a development pipeline of approximately 200,000 MW. The tabl
Slide 8: Diversified Operating Portfolio
Diversified Operating Portfolio Strong exposure to developed regions and established renewable technologies FFO by Technology FFO by Region (proportionate basis)1 (proportionate basis)1 6% 4% 9% Hydro 21% Wind North America 18% Solar - utility Europe 47% Distributed energy & Latin America storage 58
Slide 9: Distribution Profile
Distribution Profile • We target a long-term distribution growth rate in the range of 5% to 9% annually • Distribution payout is reviewed with the Board of Directors in the first quarter of each year • The next quarterly distribution in the amount of $0.355 per LP unit, is payable on December 31, 20
Slide 10: Strong Track Record of Growth
Strong Track Record of Growth Over the past 10+ years we have delivered consistent growth for our unitholders, supporting our distribution $1,095 11% CAGR $347 2012(9) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 CAGR FFO (US$ M)(1)(10) $347 $594 $560 $467 $419 $581 $676 $761 $807 $934 $1,
Slide 11: Generation and Financial Review for the Three Months Ended September 30
Generation and Financial Review for the Three Months Ended September 30 11
Slide 12: 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 and pumped storage), 5) sustainable solutions (renewable natural gas, carbon capture and stora
Slide 13: Proportionate Results for the Three Months Ended September 30
Proportionate Results for the Three Months Ended September 30 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 perfor
Slide 14: Hydroelectric Operations on Proportionate Basis
Hydroelectric Operations on Proportionate Basis FINANCIAL RESULTS The following table presents our proportionate results for the three and nine months ended September 30: • FFO at our North American business was $44 million Nine months versus $75 million in the prior year as the benefit from Three m
Slide 15: Wind and Utility-scale solar on Proportionate Basis
Wind and Utility-scale solar on Proportionate Basis The following table presents our proportionate results of our wind The following table presents our proportionate results of our business for the three and nine months ended September 30: utility-scale solar business for the three and nine months e
Slide 16: Distributed energy & storage, sustainable solutions and Corporate
Distributed energy & storage, sustainable solutions and Corporate on Proportionate Basis The following table presents our proportionate results for our Distributed The following table presents Corporate results for the three and nine energy and storage business for the three and nine months ended mo
Slide 17: 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 18: Borrowings
Borrowings The following table summarizes our undiscounted principal and scheduled amortization repayments on a proportionate basis: Balance of (MILLIONS) 2024 2025 2026 2027 2028 Thereafter Total Principal repayments(13) Medium term notes(14) $ — $ 296 $ — $ 370 $ — $ 2,533 $ 3,199 Non-recourse bor
Slide 19: 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 on a proportionate basis, assuming long-term average. The table excludes Brazil and Colombia hydroelectric portfolios, where we wou
Slide 20: Development Profile
Development Profile Expected to deliver $357 million of annualized FFO from our development activities through 2026. The following table summarizes the 2,890 MW and 5,297 MW of assets that reached commercial operations in the last nine and twelve months: YTD 2024 Last 12 months Annualized Annualized
Slide 21: Appendix 1 – Reconciliation of Non-IFRS Measures
Appendix 1 – Reconciliation of Non-IFRS Measures 21
Slide 22: Segment Reconciliation – Three Months Ended September 30, 2024
Segment Reconciliation on a Proportionate Basis – Three Months Ended September 30, 2024 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the three months ended September 30, 2024: Attributable to Unitholders Contribution Attributable to from
Slide 23: Segment Reconciliation – Three Months Ended September 30, 2023
Segment Reconciliation on a Proportionate Basis – Three Months Ended September 30, 2023 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the three months ended September 30, 2023: Attributable to Unitholders Contribution Attributable to Dist
Slide 24: Segment Reconciliation – Nine Months Ended September 30, 2024
Segment Reconciliation on a Proportionate Basis – Nine Months Ended September 30, 2024 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the nine months ended September 30, 2024: Attributable to Unitholders Contribution Attributable to Distri
Slide 25: Segment Reconciliation – Nine Months Ended September 30, 2023
Segment Reconciliation on a Proportionate Basis – Nine Months Ended September 30, 2023 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the nine months ended September 30, 2023: Attributable to Unitholders Contribution Attributable to from e
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 three months ended September 30, 2024: Distributed UNAUDITED Utility-scale energy & Sustainable
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 September 30, 2023: Distributed UNAUDITED Utility-scale energy & Sustainable
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 nine months ended September 30, 2024: Distributed UNAUDITED Utility-Scale energy & Sustainable
Slide 29: 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 nine months ended September 30, 2023: Distributed UNAUDITED Utility-Scale energy & Sustainable
Slide 30: 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 September 30 Nine months ended September 30 UNAUDITED (MILLIONS) 2024 2023 2024 2023 Net income (loss) $ (39) $
Slide 31: Reconciliation of Non-IFRS Measures (cont'd)
Reconciliation of Non-IFRS Measures (cont'd) The following table reconciles the 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 three and nine months ended September 30: Year end
Slide 32: Segment Proportionate Balance Sheet
Segment Proportionate Balance Sheet Attributable to Unitholders Contribution Attributable to Utility- Distributed from equity- non- As per scale energy & Sustainable accounted controlling IFRS (MILLIONS) Hydroelectric Wind solar storage solutions Corporate Total investments interests financials As a
Slide 33: Appendix 2 – Additional Information
Appendix 2 – Additional Information 33
Slide 34: Annualized Proportionate Long-term Average Generation
Annualized Proportionate Long-term Average Generation GENERATION (GWh)(2)(32) Q1 Q2 Q3 Q4 Total Hydroelectric North America United States 2,217 2,352 1,465 1,948 7,982 Canada 1,014 1,214 984 962 4,174 3,231 3,566 2,449 2,910 12,156 Colombia(33) 842 913 890 1,005 3,650 Brazil 1,008 1,020 1,034 1,035
Slide 35: Annualized Consolidated Long-term Average Generation
Annualized Consolidated Long-term Average Generation GENERATION (GWh)(2)(32) Q1 Q2 Q3 Q4 Total Hydroelectric North America United States 3,370 3,435 2,166 2,911 11,882 Canada 1,239 1,493 1,240 1,221 5,193 4,609 4,928 3,406 4,132 17,075 Colombia(35) 3,721 4,072 3,963 4,469 16,225 Brazil 1,183 1,198 1
Slide 36: Appendix 3 – Presentation to Stakeholders and Performance Measurement
Appendix 3 – Presentation to Stakeholders and Performance Measurement 36
Slide 37: 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. As it relates to Colombia onl
Slide 38: 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 39: Endnotes
Endnotes (1) Includes investments in businesses that have an operating portfolio of 57 thousand metric tonnes per annum (“TMTPA”) of carbon capture and storage (“CCS”), 4 million Metric Million British thermal units (“MMBtu”) of agricultural renewable natural gas (“RNG”) operating production capacit
Slide 40: Endnotes
Endnotes (27) Amount attributable to equity accounted investments corresponds to the Adjusted EBITDA to Brookfield Renewable that are generated by its investments in associates and joint ventures accounted for using the equity method. Amounts attributable to non-controlling interest are calculated b
Slide 41: BEP BEPC BEP.UN website
NYSE: NYSE: BEP BEPC TSX: TSX: BEP.UN BEPC https://bep.brookfield.com https://bep.brookfield.com/bepc 41
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