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 | Source: Brookfield Renewable Partners L.P.

BROOKFIELD, News, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) (“Brookfield Renewable”) today announced that it has agreed to issue C$750 million aggregate principal amount of medium term notes (the “Notes”), comprised of C$400 million aggregate principal amount of Series 21 Notes (the “Series 21 Notes”), due August 13, 2036, which will bear interest at a rate of 4.949% per annum and C$350 million aggregate principal amount of Series 22 Notes (the “Series 22 Notes”), due August 13, 2031, which will bear interest at a rate of 4.256% per annum.

Brookfield Renewable Partners ULC, a subsidiary of Brookfield Renewable, will be the issuer of the Notes, which will be fully and unconditionally guaranteed by Brookfield Renewable and certain of its key holding subsidiaries.

The Notes will be issued pursuant to a base shelf prospectus dated September 26, 2025 and a related prospectus supplement and pricing supplements to be dated August 20, 2026. The issue is expected to close on or about August 24, 2026 subject to customary closing conditions.

The Series 21 Notes and Series 22 Notes will represent Brookfield Renewable’s nineteenth and twentieth green labelled corporate securities issuances in North America, respectively. Brookfield Renewable intends to use the net proceeds from the sale of the Notes to fund Eligible Investments (as defined in Brookfield Renewable’s 2024 Green Financing Framework (the “Green Financing Framework”)), including to repay outstanding indebtedness incurred in respect thereof. The Green Financing Framework is available on Brookfield Renewable’s website and described in the prospectus supplement in respect of the offering.

The Notes have been rated BBB+ by S&P Global Ratings, BBB (high) with a stable trend by DBRS Limited and BBB+ by Fitch Ratings.

The Notes are being offered through a syndicate of agents led by RBC Capital Markets, BMO Capital Markets, Scotiabank, CIBC Capital Markets, National Bank Capital Markets and TD Securities, and including Desjardins, Brookfield Securities Canada, BNP Paribas, Mizuho Securities, MUFG, SMBC Nikko and iA Private Wealth Inc.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction, nor shall there be any offer or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. 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 (the “U.S. Securities Act”) 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 of the U.S. Securities Act and applicable state securities laws.

Brookfield Renewable

Brookfield Renewable operates one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar, distributed solar and storage facilities and our sustainable solutions assets include our investment in a leading 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, among others.

Investors can access the portfolio either 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.

Brookfield Renewable is the flagship listed energy company of Brookfield Asset Management, a leading global alternative asset manager headquartered in New York, with over $1 trillion of assets under management.

Contact information:
 Media:Investor Relations:Simon MaineAlex JacksonDirector, CommunicationsVice President, Investor RelationsTel: +44 (0)7398 909 278Tel: +1 (647) 484-8525Email: [email protected]
Email: [email protected]
   Cautionary Statement Regarding Forward-looking Statements

Note: This news release contains forward-looking statements and information within the meaning of Canadian securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements can be identified by the use of words such as “will”, “expected”, “intend”, or variations of such words and phrases. Forward-looking statements in this news release include statements regarding the closing, the terms and the use of proceeds of the offering of Notes. Although Brookfield Renewable believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, no assurance is given that such expectations will prove to have been correct. The reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Brookfield Renewable to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Except as required by law, Brookfield Renewable does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or otherwise.

 | Source: Brookfield Corporation

BROOKFIELD, NEWS, Aug. 19, 2026 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield” or “the Company”) (TSX: BN, NYSE: BN) today announced it has received approval from the Toronto Stock Exchange (“TSX”) for the renewal of its normal course issuer bid to purchase up to 10% of the public float of each series of the Company’s outstanding Class A Preference Shares that are listed on the TSX (the “Preferred Shares”). Purchases under the bid will be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems. The period of the normal course issuer bid will extend from August 24, 2026 to August 23, 2027, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any Preferred Shares purchased or such other price as may be permitted.

Under the normal course issuer bid, Brookfield is authorized to repurchase each respective series of the Preferred Shares as follows:

SeriesTickerIssued and 
outstanding
shares1Public floatAverage daily 
trading volume2Maximum number of shares subject to 
purchase3
TotalDaily
Series 2BN.PR.B10,220,17510,220,1754,7341,022,0171,183Series 4BN.PR.C3,983,9103,983,9101,612398,3911,000Series 13BN.PR.K8,792,5968,792,5965,605879,2591,401Series 17BN.PR.M7,840,2047,840,2043,115784,0201,000Series 18BN.PR.N7,681,0887,681,0883,470768,1081,000Series 24BN.PR.R10,808,02710,808,02710,3761,080,8022,594Series 26BN.PR.T9,770,9289,770,9287,236977,0921,809Series 28BN.PR.X9,233,9279,233,9274,031923,3921,007Series 30BN.PR.Z9,787,0909,787,0903,513978,7091,000Series 32BN.PF.A11,750,29911,750,2997,4081,175,0291,852Series 34BN.PF.B9,876,7359,876,7354,315987,6731,078Series 36BN.PF.C7,842,9097,842,9093,694784,2901,000Series 37BN.PF.D7,830,0917,830,0913,136783,0091,000Series 38BN.PF.E7,906,1327,906,1324,867790,6131,216Series 40BN.PF.F11,841,02511,841,0255,7381,184,1021,434Series 42BN.PF.G11,887,50011,887,5004,9431,188,7501,235Series 46BN.PF.I11,740,79711,740,79710,4571,174,0792,614Series 48BN.PF.J11,885,97211,885,9725,1611,188,5971,290Series 51BN.PF.K3,202,9863,202,9862,842320,2981,000Series 52BN.PF.L1,157,4801,157,4804,097115,7481,024Series 54BN.PF.M10,000,00010,000,0007,3561,000,0001,839        As of August 12, 2026, under its current normal course issuer bid that commenced on August 22, 2025 and will expire on August 21, 2026, and which was approved by the TSX, Brookfield purchased 251,500 shares of the Preferred Shares, Series 51 at a weighted average price of C$17.86 per share of which 131,500 shares was made on the TSX. The Company also purchased 23,300 shares of the Preferred Shares, Series 52 at a weighted average price of C$17.55 per share on the TSX.

Brookfield believes that the renewed normal course issuer bid will provide the flexibility to use available funds to purchase Preferred Shares where it aligns with the Company’s investment and capital allocation strategies. All Preferred Shares acquired by Brookfield under this bid will be cancelled.

Brookfield intends to enter into an automatic share purchase plan on or about the week of September 21, 2026 in relation to the normal course issuer bid. The automatic share purchase plan will allow for the purchase of Preferred Shares, subject to certain trading parameters, at times when Brookfield ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise. Outside of these periods, the Preferred Shares will be repurchased in accordance with management’s discretion and in compliance with applicable law.

About Brookfield Corporation

Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Asset Management, Wealth Solutions, and our Operating Businesses which are in infrastructure, energy, private equity, and real estate.

We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

For more information, please visit our website at www.bn.brookfield.com or contact:

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions and which in turn are based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to potential future purchases by Brookfield of its Preferred Shares pursuant to the Company’s normal course issuer bid and automatic share purchase plan.

Although Brookfield Corporation believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates and heightened inflationary pressures; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including acquisitions and dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations and sanctions; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to our business segments including asset management, wealth solutions, renewable power and transition, infrastructure, private equity, real estate and corporate activities; and (xxv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.

We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect future results. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release or such other date specified herein. Except as required by law, Brookfield Corporation undertakes no obligation to publicly update or revise any forward- looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.

_________________________________

1 As at August 12, 2026
2 Calculated for the six-month period ended July 31, 2026.
3 In accordance with TSX rules, any daily repurchases on the TSX with respect to (i) the Series 4, Series 17, Series 18, Series 30, Series 36, Series 37 and Series 51 Preferred Shares will be limited to 1,000 shares of the respective series and (ii) each of the other series of Preferred Shares (excluding the Series 4, Series 17, Series 18, Series 30, Series 36, Series 37 and Series 51 Preferred Shares) will be limited to 25% of the average daily trading volume on the TSX of the respective Preferred Shares.

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Brookfield Corporation (BN:CA) Q2 2026 Earnings Call August 13, 2026 10:00 AM EDT

Company Participants

Katie Battaglia
Bruce Flatt
Nicholas Goodman - President & CFO
Sachin Shah - Chief Executive Officer of Wealth Solutions

Conference Call Participants

Michael Cyprys - Morgan Stanley, Research Division
Bart Dziarski - RBC Capital Markets, Research Division
Cherilyn Radbourne - TD Cowen, Research Division
Mario Saric - Scotiabank Global Banking and Markets, Research Division
Kenneth Worthington - JPMorgan Chase & Co, Research Division
Alexander Blostein - Goldman Sachs Group, Inc., Research Division
Jaeme Gloyn - National Bank Financial, Inc., Research Division
Etienne Ricard - BMO Capital Markets Equity Research

Presentation

Operator

Good day, and welcome to the Brookfield Corporation Second Quarter 2026 Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference call over to our first speaker, Ms. Katie Battaglia, Vice President, Investor Relations. Please go ahead.

Katie Battaglia

Thank you, operator, and good morning. Welcome to Brookfield Corporation's Second Quarter 2026 Conference Call. On the call today are Bruce Flatt, our Chief Executive Officer; Nick Goodman, President of Brookfield Corporation; and Sachin Shah, Chief Executive Officer of our Wealth Solutions business.

Bruce will start off by giving a business update, followed by Nick, who will discuss our financial and operating results for the quarter. And finally, Sachin will provide an update on our Wealth Solutions business. After our formal comments, we will turn the call over to the operator and take analyst questions. In order to accommodate all those who want to ask questions, we request that you refrain from asking more than 2 questions. I would like to remind you that in today's comments, including in responding to questions and in discussing new initiatives in our financial and operating performance, we may make forward-looking statements, including forward-looking statements within the meaning of applicable Canadian and U.S. securities laws.

All amounts in U.S. dollars unless otherwise indicated

BROOKFIELD, News, July 31, 2026 (GLOBE NEWSWIRE) -- Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN) (“Brookfield Renewable Partners”, "BEP") today reported financial results for the three months ended June 30, 2026.

“We delivered record financial results, robust capital deployment, and the highest levels of development and asset recycling in our history,” said Connor Teskey, CEO of Brookfield Renewable.

He added, “Energy demand continues to grow at unprecedented levels with customers increasingly seeking scale, integrated power solutions. Our diversified global business and leading capabilities across hydro, solar, wind, storage and nuclear enables us to accelerate our growth in this environment. With the recent acquisition of Aypa, the largest standalone battery storage platform in North America, we continue to enhance Brookfield Renewable’s position as the partner of choice for the largest corporate and sovereign buyers of power.”

  For the three months
ended June 30 For the twelve months
ended June 30 US$ millions (except per unit amounts), unaudited 2026  2025  2026  2025  Net loss attributable to Unitholders$(213) (112) (152) (499)    - per LP unit(1) (0.37) (0.22) (0.89) (0.96) Funds From Operations (FFO)(2) 421  371  1,444  1,268     - per Unit(2)(3) 0.62  0.56  2.14  1.91  
Brookfield Renewable reported record FFO of $421 million or $0.62 per unit, up 13% or 11% per unit year-over-year, benefiting from strong operating performance, asset recycling activity and growth from asset development. In the last twelve months, Brookfield Renewable reported FFO of $1,444 million, or $2.14 per unit, up 14% or 11% per unit, compared to the prior year period. After deducting non-cash depreciation and other expenses, our Net loss attributable to Unitholders for the three months ended June 30, 2026 was $213 million.

Strong Financial Performance

Our business delivered another quarter of strong financial results, reflecting our diversified portfolio and continued execution across our growth and capital recycling initiatives.

Our hydroelectric segment delivered FFO of $336 million, driven by strong generation from our Canadian fleet, robust performance of our Colombian business and realized gains on the sale of a 25% interest in non-core U.S. hydro assets, which more than offset weaker hydrology in the U.S.Our wind and solar segments generated combined FFO of $166 million, supported by the build out of projects commissioned over the last year and realized gains.Our distributed energy, storage and sustainable solutions segments contributed FFO of $84 million, driven by contributions from development activities and strong performance from Westinghouse, with increasing activity across new-build projects and reactor restarts as global demand for nuclear power continues to accelerate.
We are executing on our growth priorities, committing or deploying ~$5 billion (~$760 million net to Brookfield Renewable) of capital, including agreeing to acquire the largest standalone battery storage platform in North America.

We announced an agreement to acquire Aypa, the largest standalone battery energy storage platform in North America for ~$3 billion (~$420 million net to Brookfield Renewable). Aypa has ~3,000 megawatts of highly contracted operating and under construction battery storage assets, an additional ~3,500 megawatts of contracted projects and a further +20-gigawatt development pipeline in strategic markets across the United States. This acquisition adds to our leading storage capabilities as battery storage is an increasingly critical component of the energy mix, enabling the deployment of low-cost, fast-to-market renewable generation and enhancing grid reliability. In addition, the acquisition of Aypa enhances our ability to meet growing customer demand for reliable, integrated power solutions.The quarter was also highlighted by the U.S. Department of Energy's commitment of $17.5 billion in loan facilities to finance long-lead equipment for the deployment of up to 10 large scale Westinghouse AP1000 reactors in the United States. The financing will accelerate project delivery by supporting early equipment procurement; reducing execution risk and strengthening the domestic nuclear supply chain.During the quarter, we were successful delivering ~1,280 megawatts of new capacity bringing our completed new capacity so far this year to ~3,100 megawatts, the highest first half development total in our history. We also continue to scale new build construction and remain on track to deliver ~10,000 megawatts of new projects per year by 2027.We executed power purchase agreements for ~2,600 megawatts of development projects from our advanced pipeline and continue to advance a number of major contracting initiatives, including a portfolio of hydro assets in Ontario as part of a broader re-contracting program run by the provincial system operator that will help secure cash flows with respect to these assets.
We continue to execute on our capital recycling strategy, generating record proceeds to start the year, including approximately ~$2.2 billion (~$630 million net to Brookfield Renewable) of expected proceeds from signed or closed transactions during the quarter at strong returns.

During the quarter, we signed an agreement to sell a 570-megawatt portfolio of operating solar and wind assets from our European development businesses to a newly formed European renewable power platform. The transaction will generate approximately $500 million (~$80 million net to Brookfield Renewable) of proceeds, crystallizing value created through our operating and development activities. We also established a framework to sell additional operating assets over time to the platform. This transaction represents another example of our programmatic capital recycling strategy, following the successful launch of a North American platform, Northview Energy, earlier this year.We closed two-thirds of the sale of ~2,100 megawatts of assets to the Northview Energy platform, and closed the remaining third subsequent to quarter-end. Also during the quarter we completed the sale of an additional 25% interest in a non-core U.S. hydro portfolio in Maine, with the remaining 25% expected to close in the third quarter of 2026. Total proceeds from the sale of 100% of these sales is expected to be ~$2.2 billion (~$800 million net to Brookfield Renewable).We agreed to sell a portfolio of solar assets that we developed and small non-core hydro assets from our Isagen business in Colombia across two transactions for ~$590 million in expected proceeds (~$220 million net to Brookfield Renewable). The transactions will crystallize development gains and value creation across our hydro fleet through the extension of contracts and operational improvements.
We maintain a strong liquidity position and further optimized our balance sheet during the quarter, completing financings that enhance our financial flexibility and position us to continue to invest significantly into accretive growth opportunities.

During the quarter, we completed approximately $12 billion of financings across our business, reflecting continued strong access to capital markets and ended the quarter with over $5.1 billion of available liquidity across our platform, providing flexibility to fund our development pipeline and pursue growth opportunities.We completed the largest private placement financing in our history through the refinancing of our Safe Harbor hydro portfolio, securing $1.2 billion of attractive long-term financing while further optimizing the capital structure of the portfolio.We completed a €650 million bond issuance at Neoen, further demonstrating our ability to efficiently access capital across our platforms.At the corporate level, we completed a C$200 million preferred unit issuance that was upsized in response to strong investor demand and priced with a 5.75% coupon, achieving our second-lowest reset spread ever for this type of instrument.During the quarter, we continued to execute our BEPC at-the-market equity issuance program alongside our normal course issuer bid. We issued approximately 3.2 million BEPC shares and repurchased the same number of BEP units on a one-for-one basis, generating approximately $8 million of incremental cash to support future growth investments.
We recently approved plans to simplify Brookfield Renewable's corporate structure by combining BEP and BEPC into a single publicly traded corporation.

We expect the simplification to be tax-deferred for Canadian and U.S. investors and benefit all securityholders by improving trading liquidity, increasing demand from index funds and ETFs, simplifying investor analysis, broadening access to investors who prefer a traditional corporate structure and enhancing governance. For BEP unitholders, the simplification will also eliminate onerous partnership tax reporting forms, while also providing preferential dividend tax rates for many Canadian and U.S. taxable investors.A special meeting for securityholders to vote on the simplification will be held on October 14, 2026, and subject to approvals and closing conditions, the simplification transaction is expected to be completed in the fourth quarter of 2026. Investor Day

We look forward to hosting our Investor Day on September 29th, 2026 in Toronto where members of Brookfield Renewable's senior management team will provide an update on our strategic priorities and growth outlook.
Distribution Declaration

The next quarterly distribution in the amount of $0.392 per LP unit, is payable on September 29, 2026 to unitholders of record as at the close of business on August 31, 2026. In conjunction with the Partnership’s distribution declaration, the Board of Directors of BEPC has declared an equivalent quarterly dividend of $0.392 per share, also payable on September 29, 2026 to shareholders of record as at the close of business on August 31, 2026.

The quarterly dividends on BEP's preferred shares and preferred LP units have also been declared.

Conference Call and Quarterly Earnings Details

Investors, analysts and other interested parties can access Brookfield Renewable’s Second Quarter 2026 Results as well as Supplemental Information on Brookfield Renewable’s website.

To participate in the Conference Call on July 31, 2026 at 9:00 a.m. ET, please pre-register at https://register-conf.media-server.com/register/BI89bfdf0556c34d6bb3455df1fe062620

Upon registering, you will be emailed a dial-in number and unique PIN. The Conference Call will also be webcast live at https://edge.media-server.com/mmc/p/htnqsajs

Brookfield Renewable

Brookfield Renewable operates one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar, distributed solar and storage facilities and our sustainable solutions assets include our investment in a leading 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, among others.

Investors can access the portfolio either 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. Further information is available at https://bep.brookfield.com. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.

Brookfield Renewable is the flagship listed energy company of Brookfield Asset Management, a leading global alternative asset manager headquartered in New York, with over $1 trillion of assets under management.

Please note that Brookfield Renewable’s previous audited annual and unaudited quarterly reports filed with the U.S. Securities and Exchange Commission (“SEC”) and securities regulators in Canada, are available on our website at https://bep.brookfield.com, on SEC’s website at http://www.sec.gov and on SEDAR+’s website at www.sedarplus.ca. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.

Contact information: Media:Investors:Simon MaineAlex JacksonManaging Director – CommunicationsVice President – Investor Relations+44 (0)7398 909 278(416)[email protected]@brookfield.com
Brookfield Renewable Partners L.P.Consolidated Statements of Financial Position  As ofUNAUDITED
(MILLIONS)
June 30December 312026
2025
Assets    Cash and cash equivalents $1,971 $2,093Trade receivables and other financial assets(4)  9,364  8,458Equity-accounted investments  3,714  4,087Property, plant and equipment, at fair value and Goodwill  75,656  76,475Deferred income tax and other assets(5)  6,040  7,588Total Assets $96,745 $98,701     Liabilities    Corporate borrowings(6) $4,882 $3,686Borrowings which have recourse only to assets they finance(7)  32,050  31,206Accounts payable and other liabilities(8)  14,556  19,440Deferred income tax liabilities  9,409  9,395     Equity    Non-controlling interests    Participating non-controlling interests – in operating subsidiaries$25,395 $24,164 General partnership interest in a holding subsidiary held by Brookfield 50  52 Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield 2,423  2,524 BEPC exchangeable shares and class A.2 exchangeable shares 2,312  2,330 Preferred equity 545  563 Perpetual subordinated notes 737  737 Preferred limited partners' equity 647  634 Limited partners' equity 3,739 35,848 3,970 34,974Total Liabilities and Equity $96,745 $98,701 Brookfield Renewable Partners L.P.Consolidated Statements of Operating Results FOR THE PERIODS ENDED JUNE 30Three Months Ended Six Months EndedUNAUDITED
(MILLIONS, EXCEPT AS NOTED) 2026  2025   2026  2025 Revenues$1,710 $1,692  $3,224 $3,272 Other income 246  62   384  232 Direct operating costs(9) (783) (699)  (1,562) (1,374)Management service costs (77) (56)  (150) (105)Interest expense (658) (624)  (1,297) (1,233)Share of earnings (losses) from equity-accounted investments 45  (57)  66  (73)Foreign exchange and financial instrument gain 4  255   224  504 Depreciation (558) (609)  (1,106) (1,192)Other (221) (61)  (405) (322)Income tax recovery (expense)     Current 46  16   34  57 Deferred (41) 181   6  226 Net (loss) income$(287)$100  $(582)$(8)Net (loss) income attributable to preferred equity, preferred limited partners' equity, perpetual subordinated notes and non-controlling interests in operating subsidiaries$(74)$212  $(140)$301 Net loss attributable to Unitholders (213) (112)  (442) (309)Basic and diluted loss per LP unit$(0.37)$(0.22) $(0.77)$(0.58) Brookfield Renewable Partners L.P.Consolidated Statements of Cash Flows      FOR THE PERIODS ENDED JUNE 30Three Months Ended Six Months EndedUNAUDITED
(MILLIONS) 2026  2025   2026  2025 Operating activities     Net (loss) income$(287)$100  $(582)$(8)Adjustments for the following non-cash items:     Depreciation 558  609   1,106  1,192 Unrealized foreign exchange and financial instrument gain (15) (301)  (233) (489)Share of (earnings) losses from equity-accounted investments (45) 57   (66) 73 Deferred income tax expense (recovery) 41  (181)  (6) (226)Other non-cash items 154  104   341  175   406  388   560  717 Net change in working capital and other(10) 120  (9)  117  49   526  379   677  766 Financing activities     Net corporate borrowings —  (107)  359  200 Corporate credit facilities, net (147) 169   53  (71)Non-recourse borrowings, commercial paper, and related party borrowings, net 322  2,353   (451) 4,661 Capital contributions from participating non-controlling interests – in operating subsidiaries, net 535  999   2,367  1,367 Issuance of equity instruments and related costs, net 8  (7)  36  (34)Issuance of preferred equity instruments and related costs, net 141  —   13  — Distributions paid:     To participating non-controlling interests - in operating subsidiaries (660) (568)  (1,093) (811)To unitholders of Brookfield Renewable or BRELP (306) (281)  (621) (564)  (107) 2,558   663  4,748 Investing activities     Acquisitions, net of cash and cash equivalents in acquired entity —  (1,686)  —  (4,429)Investment in property, plant and equipment (1,326) (1,478)  (2,584) (3,024)Disposal of associates and other assets 716  266   1,332  723 Restricted cash and other 67  (168)  (149) (127)  (543) (3,066)  (1,401) (6,857)Cash and cash equivalents     Decrease (124) (129)  (61) (1,343)Foreign exchange gain on cash 3  65   —  121 Net change in cash classified within assets held for sale (32) 16   (61) (6)Balance, beginning of period 2,124  1,955   2,093  3,135 Balance, end of period$1,971 $1,907  $1,971 $1,907 
PROPORTIONATE RESULTS FOR THE THREE MONTHS ENDED JUNE 30

The following chart reflects the generation and summary financial figures on a proportionate basis for the three months ended June 30:

 (GWh)  (MILLIONS) Renewable Actual
Generation  Renewable LTA
Generation  Revenues  Adjusted EBITDA(2)  FFO(2) 20262025  20262025   2026 2025   2026 2025    2026  2025 Hydroelectric5,5645,668  5,9485,452  $543$457  $488$301   $336 $205 Wind2,1282,117  2,3642,405   141 146   88 126    50  84 Utility-scale solar1,3851,349  1,6501,569   137 126   156 135    116  100 Distributed energy & storage301408  189393   44 67   47 57    40  44 Sustainable solutions——  ——   153 178   52 85    44  74 Corporate——  ——   — —   — (4)   (165) (136)Total9,3789,542  10,1519,819  $1,018$974  $831$700   $421 $371 
PROPORTIONATE RESULTS FOR THE TWELVE MONTHS ENDED JUNE 30

The following chart reflects the generation and summary financial figures on a proportionate basis for the twelve months ended June 30:

 (GWh)  (MILLIONS) Renewable Actual
Generation  Renewable LTA
Generation  Revenues  Adjusted EBITDA(2)  FFO(2) 20262025  20262025   2026 2025   2026 2025    2026  2025 Hydroelectric18,79818,248  21,39719,758  $1,765$1,526  $1,290$940   $785 $550 Wind8,2908,554  9,4349,635   586 616   477 629    302  464 Utility-scale solar4,8824,178  5,8204,967   481 425   577 487    424  360 Distributed energy & storage1,2351,420  9531,206   229 234   409 311    363  266 Sustainable solutions——  ——   607 571   184 186    149  154 Corporate——  ——   — —   23 (24)   (579) (526)Total33,20532,400  37,60435,566  $3,668$3,372  $2,960$2,529   $1,444 $1,268 
RECONCILIATION OF NON-IFRS MEASURES

The following table reflects Adjusted EBITDA and provides a reconciliation from Net income (loss) to Adjusted EBITDA for the three months ended June 30, 2026:

(MILLIONS) Hydroelectric  Wind  Utility-
scale
solar  Distributed
energy &
storage  Sustainable
solutions  Corporate  Total Net income (loss)$102 $(247)$(103)$49 $48 $(136)$(287)Add back or deduct the following:       Depreciation 173  218  119  48  —  —  558 Deferred income tax expense (recovery) 19  (18) 11  53  —  (24) 41 Foreign exchange and financial instrument loss (gain) 45  (11) 40  (50) (25) (3) (4)Other(11) 135  92  116  84  19  9  455 Management service costs —  —  —  —  —  77  77 Interest expense 244  166  120  51  —  77  658 Current income tax expense (recovery) 31  —  17  (94) —  —  (46)Amount attributable to equity-accounted investments and non-controlling interests(12) (261) (112) (164) (94) 10  —  (621)Adjusted EBITDA attributable to Unitholders$488 $88 $156 $47 $52 $— $831 
The following table reflects Adjusted EBITDA and provides a reconciliation from Net income (loss) to Adjusted EBITDA for the three months ended June 30, 2025:

(MILLIONS) Hydroelectric  Wind  Utility-
scale
solar  Distributed
energy &
storage  Sustainable
solutions  Corporate  Total Net income (loss)$64 $301 $(165)$(23)$47 $(124)$100 Add back or deduct the following:       Depreciation 170  224  143  61  11  —  609 Deferred income tax expense (recovery) 4  (205) (6) 39  —  (13) (181)Foreign exchange and financial instrument loss (gain) 21  (201) (33) (22) (28) 8  (255)Other(11) 16  (11) 109  19  20  14  167 Management service costs —  —  —  —  —  56  56 Interest expense 203  194  117  54  1  55  624 Current income tax expense (recovery) 7  —  31  (54) —  —  (16)Amount attributable to equity-accounted investments and non-controlling interests(12) (184) (176) (61) (17) 34  —  (404)Adjusted EBITDA attributable to Unitholders$301 $126 $135 $57 $85 $(4)$700 
RECONCILIATION OF NON-IFRS MEASURES (cont'd)

The following table reflects Adjusted EBITDA and provides a reconciliation from Net income (loss) to Adjusted EBITDA for the twelve months ended June 30, 2026:

(MILLIONS) Hydroelectric  Wind  Utility-
scale
solar  Distributed
energy &
storage  Sustainable
solutions  Corporate  Total Net income (loss)$123 $(617)$(229)$418 $972 $(529)$138 Add back or deduct the following:       Depreciation 690  844  540  245  20  —  2,339 Deferred income tax (recovery) expense (28) (15) (129) 89  3  (65) (145)Foreign exchange and financial instrument loss (gain) 49  (231) (410) (277) (297) 12  (1,154)Other(11) 323  349  597  583  (567) 65  1,350 Management service costs —  —  —  —  —  268  268 Interest expense 887  640  545  175  3  271  2,521 Current income tax expense (recovery) 76  14  48  (365) —  1  (226)Amount attributable to equity-accounted investments and non-controlling interests(12) (830) (507) (385) (459) 50  —  (2,131)Adjusted EBITDA attributable to Unitholders$1,290 $477 $577 $409 $184 $23 $2,960 
The following table reflects Adjusted EBITDA and provides a reconciliation from Net income (loss) to Adjusted EBITDA for the twelve months ended June 30, 2025:

(MILLIONS) Hydroelectric  Wind  Utility-
scale
solar  Distributed
energy &
storage  Sustainable
solutions  Corporate  Total Net income (loss)$260 $328 $(339)$168 $178 $(454)$141 Add back or deduct the following:       Depreciation 645  844  467  197  30  —  2,183 Deferred income tax (recovery) expense (5) (229) (28) 62  5  (51) (246)Foreign exchange and financial instrument (gain) loss (58) (388) (292) (222) (201) 13  (1,148)Other(11) 58  226  626  215  71  41  1,237 Management service costs —  —  —  —  —  211  211 Interest expense 755  652  437  189  7  216  2,256 Current income tax expense (recovery) 86  (26) (48) (273) —  —  (261)Amount attributable to equity-accounted investments and non-controlling interests(12) (801) (778) (336) (25) 96  —  (1,844)Adjusted EBITDA attributable to Unitholders$940 $629 $487 $311 $186 $(24)$2,529 
RECONCILIATION OF NON-IFRS MEASURES (cont'd)

The following table reconciles the non-IFRS financial metrics to the most directly comparable IFRS measures or financial data. Net income is reconciled to Funds From Operations:

FOR THE PERIODS ENDED JUNE 30Three Months Ended Twelve Months EndedUNAUDITED
(MILLIONS) 2026  2025   2026  2025 Net (loss) income$(287)$100  $138 $141 Add back or deduct the following:     Depreciation 558  609   2,339  2,183 Deferred income tax expense (recovery) 41  (181)  (145) (246)Foreign exchange and financial instruments gain (4) (255)  (1,154) (1,148)Other(13) 455  167   1,350  1,237 Amount attributable to equity accounted investments and non-controlling interests(14) (342) (69)  (1,084) (899)Funds From Operations$421 $371  $1,444 $1,268 
The following table reconciles the per Unit non-IFRS financial metrics to the most directly comparable IFRS measures or financial data. Net income per LP unit is reconciled to Funds From Operations per Unit:

FOR THE PERIODS ENDED JUNE 30Three Months Ended Twelve Months EndedUNAUDITED
(MILLIONS) 2026  2025   2026  2025 Basic loss per LP unit(1)$(0.37)$(0.22) $(0.89)$(0.96)Adjusted for proportionate share of:     Depreciation 0.40  0.45   1.66  1.62 Deferred income tax recovery (0.07) (0.10)  (0.42) (0.20)Foreign exchange and financial instruments gain (0.06) (0.03)  (0.25) (0.31)Other(15) 0.72  0.46   2.04  1.76 Funds From Operations per Unit(3)$0.62 $0.56  $2.14 $1.91  BROOKFIELD RENEWABLE CORPORATION
REPORTS SECOND QUARTER RESULTS

All amounts in U.S. dollars unless otherwise indicated

The Board of Directors of Brookfield Renewable Corporation ("BEPC" or our "company") (NYSE, TSX: BEPC) today has declared a quarterly dividend of $0.392 per class A exchangeable subordinate voting share of BEPC (a "Share"), payable on September 29, 2026 to shareholders of record as at the close of business on August 31, 2026. This dividend is identical in amount per share and has identical record and payment dates to the quarterly distribution announced today by BEP on BEP's LP units.

The Shares of BEPC are structured with the intention of being economically equivalent to the non-voting limited partnership units of Brookfield Renewable Partners L.P. ("BEP" or the "partnership") (NYSE: BEP; TSX: BEP.UN). We believe economic equivalence is achieved through identical dividends and distributions on the Shares and BEP's LP units and each Share being exchangeable at the option of the holder for one BEP LP unit at any time. Given the economic equivalence, we expect that the market price of the Shares will be significantly impacted by the market price of BEP's LP units and the combined business performance of our company and BEP as a whole. In addition to carefully considering the disclosures made in this news release in its entirety, shareholders are strongly encouraged to carefully review BEP's continuous disclosure filings available electronically on EDGAR on the SEC's website at www.sec.gov or on SEDAR+ at www.sedarplus.ca.

  For the three months ended
June 30 For the six months ended
June 30US$ millions, unaudited  2026   2025   2026   2025 Select Financial Information        Net loss attributable to the partnership $(790) $(1,410) $(2,976) $(1,405)Funds From Operations (FFO)(2)  299   198   470   337 
BEPC reported FFO of $299 million for the three months ended June 30, 2026, compared to $198 million in the prior year. After deducting non-cash depreciation, remeasurement of shares classified as financial liability, and other non-cash items, our Net loss attributable to the partnership for the three months ended June 30, 2026 was $790 million compared to a net loss of $1,410 million in the prior year. Adjusting for the remeasurement of financial liability associated with our exchangeable shares, the Net loss attributable to the partnership for the three months ended June 30, 2026 is $86 million compared to a loss of $134 million in the prior year.

We recently announced our intention to simplify Brookfield Renewable's corporate structure by combining BEP and BEPC into a single publicly traded corporation.

We expect the simplification to be tax-deferred for Canadian and U.S. investors and benefit all securityholders by improving trading liquidity, increasing demand from index funds and ETFs, simplifying investor analysis, broadening access to investors who prefer a traditional corporate structure and enhancing governance.

A special meeting for securityholders to vote on the simplification will be held on October 14, 2026, and subject to approvals and closing conditions, the simplification transaction is expected to be completed in the fourth quarter of 2026.

Brookfield Renewable CorporationConsolidated Statements of Financial Position As ofUNAUDITED
(MILLIONS)
June 30December 312026
2025
Assets    Cash and cash equivalents $756 $682Trade receivables and other financial assets(4)  4,142  3,230Equity-accounted investments  999  1,014Property, plant and equipment, at fair value and Goodwill  39,618  40,508Deferred income tax and other assets(5)  3,156  833Total Assets $48,671 $46,267     Liabilities    Borrowings which have recourse only to assets they finance(7) $15,420 $15,264Accounts payable and other liabilities(8)  5,744  4,171Deferred income tax liabilities  7,524  7,339Shares classified as financial liabilities  13,237  10,261     Equity    Non-controlling interests:    Participating non-controlling interests – in operating subsidiaries$9,728  $9,305  Participating non-controlling interests – in a holding subsidiary held by the partnership 341   333  The partnership (3,323) 6,746 (406) 9,232Total Liabilities and Equity $48,671 $46,267 Brookfield Renewable CorporationConsolidated Statements of Income (Loss)     FOR THE PERIODS ENDED JUNE 30 
UNAUDITED
(MILLIONS)
 Three Months Ended Six Months Ended  2026  2025   2026  2025        Revenues $1,076 $952  $1,959 $1,859 Other income  111  39   158  62 Direct operating costs(9)  (453) (353)  (868) (721)Management service costs  (45) (26)  (91) (49)Interest expense  (387) (425)  (760) (838)Share of earnings (losses) from equity-accounted investments  2  1   (4) (1)Foreign exchange and financial instrument loss  (13) (26)  (83) (47)Depreciation  (301) (319)  (595) (626)Other  (34) (15)  (48) (32)Remeasurement of financial liability associated with our exchangeable shares(16)  (704) (1,276)  (2,739) (1,053)Income tax (expense) recovery      Current  (42) (12)  (53) (48)Deferred  5  13   37  42 Net loss $(785)$(1,447) $(3,087)$(1,452)Net loss attributable to:      Non-controlling interests:      Participating non-controlling interests – in operating subsidiaries  9  (37)  (104) (47)Participating non-controlling interests – in a holding subsidiary held by the partnership  (4) —   (7) — The partnership  (790) (1,410)  (2,976) (1,405)  $(785)$(1,447) $(3,087)$(1,452) Brookfield Renewable CorporationConsolidated Statements of Cash Flows       FOR THE PERIODS ENDED JUNE 30
UNAUDITED
(MILLIONS)
 Three Months Ended Six Months Ended  2026  2025   2026  2025 Operating activities      Net loss $(785)$(1,447) $(3,087)$(1,452)Adjustments for the following non-cash items:      Depreciation  301  319   595  626 Unrealized foreign exchange and financial instruments (gain) loss  (2) 7   83  9 Share of (earnings) losses from equity-accounted investments  (2) (1)  4  1 Deferred income tax recovery  (5) (13)  (37) (42)Other non-cash items  14  6   33  57 Remeasurement of financial liability associated with our exchangeable shares(16)  704  1,276   2,739  1,053    225  147   330  252 Net change in working capital and other(10)  21  (8)  (27) (3)   246  139   303  249 Financing activities      Non-recourse borrowings and related party borrowings, net  (132) 73   (91) 225 Capital contributions from participating non-controlling interests, net  306  56   611  157 Issuance of exchangeable shares, net  122  —   237  — Distributions paid:      To participating non-controlling interests  (124) (303)  (408) (452)To the partnership  —  (5)  —  (5)   172  (179)  349  (75)Investing activities      Investment in property, plant and equipment  (277) (302)  (472) (550)Investment in equity-accounted investments  (45) (21)  (60) (41)Disposals of subsidiaries, associates and other securities, net  58  314   58  314 Restricted cash and other  (42) (27)  (83) (11)   (306) (36)  (557) (288)Cash and cash equivalents      Increase (decrease)  112  (76)  95  (114)Foreign exchange gain on cash  3  19   11  46 Net change in cash classified within assets held for sale  (10) (1)  (32) — Balance, beginning of period  651  614   682  624 Balance, end of period $756 $556  $756 $556 
RECONCILIATION OF NON-IFRS MEASURES

The following table reconciles Net income (loss) to Funds From Operations:

FOR THE PERIODS ENDED JUNE 30
UNAUDITED
(MILLIONS)
Three Months Ended Six Months Ended 2026  2025   2026  2025       Net loss$(785)$(1,447) $(3,087)$(1,452)Add back or deduct the following:     Depreciation 301  319   595  626 Deferred income tax recovery (5) (13)  (37) (42)Foreign exchange and financial instruments loss 13  26   83  47 Other(17) 170  17   273  67 Dividends on BEPC exchangeable, class A.2 exchangeable shares and exchangeable shares of BRHC(18) 73  133   144  296 Remeasurement of financial liability associated with our exchangeable shares(16) 704  1,276   2,739  1,053 Amount attributable to equity accounted investments and non-controlling interests(19) (172) (113)  (240) (258)Funds From Operations$299 $198  $470 $337 
Cautionary Statement Regarding Forward-looking Statements

This news release contains forward-looking statements and information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words “will”, “intend”, “should”, “could”, “target”, “growth”, “expect”, “believe”, “plan”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements regarding the quality of Brookfield Renewable’s and its subsidiaries’ businesses and our expectations regarding future cash flows and distribution growth. They include statements regarding Brookfield Renewable’s anticipated financial performance, future commissioning of assets, contracted nature of our portfolio (including our ability to recontract certain assets), technology diversification, acquisition opportunities, expected completion of acquisitions, dispositions and other transactions, financing and refinancing opportunities, future energy prices and demand for electricity, global decarbonization targets, economic recovery, achieving long-term average generation, project development and capital expenditure costs, energy policies, economic growth, growth potential of the renewable asset class, reorganizations or other structural simplification transactions including our corporate simplification, the future growth prospects and distribution profile of Brookfield Renewable and Brookfield Renewable’s access to capital. Although Brookfield Renewable believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, you should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Renewable are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Renewable to differ materially from those contemplated or implied by the statements in this news release include (without limitation) our inability to identify sufficient investment opportunities and complete transactions and strategic initiatives including our corporate simplification transaction; the growth of our portfolio and our inability to realize the expected benefits of our transactions or acquisitions; weather conditions and other factors which may impact generation levels at facilities; changes to government regulations, including incentives for renewable energy; adverse outcomes with respect to outstanding, pending or future litigation; economic conditions in the jurisdictions in which Brookfield Renewable operates; ability to sell products and services under contract or into merchant energy markets; ability to complete development and capital projects on time and on budget; inability to finance operations or fund future acquisitions due to the status of the capital markets; health, safety, security or environmental incidents; regulatory risks relating to the power markets in which Brookfield Renewable operates, including relating to the regulation of our assets, licensing and litigation; risks relating to internal control environment; contract counterparties not fulfilling their obligations; changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and other risks associated with the construction, development and operation of power generating facilities. For further information on these known and unknown risks, please see “Risk Factors” included in the most recent Form 20-F of BEP and in the most recent Form 20-F of BEPC and other risks and factors that are described therein. Certain risks and uncertainties specific to our corporate simplification transaction will be further described in the joint management information circular of BEP and BEPC to be delivered to security holders in advance of the special meetings to approve the simplification.

The foregoing list of important factors that may affect future results is not exhaustive. The forward-looking statements represent our views as of the date of this news release and should not be relied upon as representing our views as of any subsequent date. While we anticipate that subsequent events and developments may cause our views to change, we disclaim any obligation to update the forward-looking statements, other than as required by applicable law.

No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Regarding Use of Non-IFRS Measures

This news release contains references to FFO and FFO per Unit, which are not generally accepted accounting measures under IFRS and therefore may differ from definitions of Adjusted EBITDA, FFO and FFO per Unit used by other entities. We believe that FFO and FFO per Unit are useful supplemental measures that may assist investors in assessing the financial performance and the cash anticipated to be generated by our operating portfolio. None of FFO and FFO per Unit should be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, analysis of our financial statements prepared in accordance with IFRS. For a reconciliation of FFO and FFO per Unit to the most directly comparable IFRS measure or financial data, please see “Reconciliation of Non-IFRS Measures - Three Months Ended June 30” included elsewhere herein and “Financial Performance Review on Proportionate Information - Reconciliation of Non-IFRS Measures” included in our unaudited Q2 2026 interim report. For a reconciliation of FFO and FFO per Unit to the most directly comparable IFRS measure or financial data, please see “Reconciliation of Non-IFRS Measures - Three Months Ended June 30” included elsewhere herein and “Financial Performance Review on Proportionate Information - Reconciliation of Non-IFRS Measures” included in our unaudited Q2 2026 interim report.

References to Brookfield Renewable are to Brookfield Renewable Partners L.P. together with its subsidiary and operating entities unless the context reflects otherwise.

Endnotes

(1)  For the three months ended June 30, 2026, average LP units totaled 302.3 million (2025: 283.8 million). For the twelve months ended June 30, 2026, average LP units totaled 296.7 million (2025: 284.7 million).

(2)  Non-IFRS measures. Refer to “Cautionary Statement Regarding Use of Non-IFRS Measures”.

(3)  Average Units outstanding for the three months ended June 30, 2026 were 684.3 million (2025: 661.9 million), being inclusive of GP interest, Redeemable/Exchangeable partnership units, LP units, BEPC exchangeable shares and class A.2 exchangeable shares. The actual Units outstanding as at June 30, 2026 were 684.2 million (2025: 661.9 million). Average Units for the twelve months ended June 30, 2026 was 676.0 million (2025: 662.8 million), being inclusive of our LP units, Redeemable/Exchangeable partnership units, BEPC exchangeable shares, class A.2 exchangeable shares and GP interest.

(4)  Balance includes restricted cash, trade receivables and other current assets, financial instrument assets, and due from related parties on the consolidated statements of financial of position.

(5)  Balance includes deferred income tax assets, assets held for sale, and other long-term assets on the consolidated statements of financial position.

(6)  Balance includes current and non-current portion of corporate borrowings on the consolidated statements of financial position.

(7)  Balance includes current and non-current portion of non-recourse borrowings on the consolidated statements of financial position.

(8)  Balance includes accounts payable and accrued liabilities, financial instrument liabilities, due to related parties, provisions, liabilities directly associated with assets held for sale and other long-term liabilities on the consolidated statements of financial position.

(9)  Direct operating costs exclude depreciation expense disclosed below.

(10)  Balance includes net change in working capital, dividends received from equity accounted investments and changes in due to or from related parties on the consolidated statements of cash flows.

(11)  Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations, recognized in the following line items of the IFRS statements: i) the "Other" line item on the consolidated statement of income (loss), ii) items recognized within Foreign exchange and financial instruments gain (loss) on the consolidated statement of income (loss), and iii) realized disposition gains and losses recognized within Other income on the consolidated statement of income (loss). Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects over the long-term and realized disposition gains and losses on equity transactions that are included within Adjusted EBITDA.

(12)  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 based on the economic ownership interest held by non-controlling interests in consolidated subsidiaries, excluding amounts attributable to Unitholders. By adjusting Adjusted EBITDA attributable to non-controlling interest, Brookfield Renewable is able to remove the portion of Adjusted EBITDA earned at non-wholly owned subsidiaries that are not attributable to Brookfield Renewable.

(13)  Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects and realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term that are included in Funds From Operations.

(14)  Amount attributable to equity accounted investments corresponds to the Funds From Operations 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 based on the economic ownership interest held by non-controlling interests in consolidated subsidiaries, excluding amounts attributable to Unitholders. By adjusting Funds From Operations attributable to non-controlling interest, Brookfield Renewable is able to remove the portion of Funds From Operations earned at non-wholly owned subsidiaries that are not attributable to Brookfield Renewable.

(15)  Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects and realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term that are included in Funds From Operations as well as amounts attributable to holders of Redeemable/Exchangeable partnership units, GP interest, BEPC exchangeable shares and class A.2 exchangeable shares.

(16)  Reflects gains (losses) on shares with an exchange/redemption option that are classified as liabilities under IFRS.

(17)  Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and the company's economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects and realized disposition gains and losses on assets that we developed and/or did not intent to hold over the long-term that are included in Funds from Operations.

(18)  Balance is included within interest expense on the consolidated statements of income (loss).

(19)  Amount attributable to equity accounted investments corresponds to the Funds From Operations 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 based on the economic ownership interest held by non-controlling interests in consolidated subsidiaries. By adjusting Funds From Operations attributable to non-controlling interest, our company is able to remove the portion of Funds From Operations earned at non-wholly owned subsidiaries that are not attributable to our company.

(20)  Any references to capital refer to Brookfield's cash deployed, excluding any debt financing.

(21)  Available liquidity of over $5.1 billion refers to "Part 5 - Liquidity and Capital Resources" in the Management Discussion and Analysis in the Q2 2026 Interim Report.

Planned Investments to Scale NAVER’s Initial Multi-Tenant NVIDIA DSX AI Factory to 200 Megawatts by 2028, Fueling Next Generation of Korea and US AI Innovators

News Summary:

NAVER, NVIDIA and Brookfield plan to invest in gigawatt-scale, multi-tenant AI cloud infrastructure to power the next generation of AI companies in Korea and the U.S.NAVER and NVIDIA team plan to expand the initial NVIDIA DSX AI factory buildout at GAK Sejong data center from 55 megawatts to 200 megawatts by 2028.NAVER plans to continue its path toward gigawatt-scale sovereign AI infrastructure, deploying the NVIDIA DSX platform to deliver full-stack, lowest-cost AI factory infrastructure for enterprises, industries and government. SAN FRANCISCO, July 27, 2026 (GLOBE NEWSWIRE) -- AI Summit -- NAVER, NVIDIA and Brookfield today announced a proposed expansion of Korea's sovereign AI factory infrastructure, with planned investments that will grow the initial NVIDIA® DSX™ AI factory deployment to 200 megawatts — more than tripling the 55-megawatt buildout announced last month. NAVER intends to expand its deployment of NVIDIA AI infrastructure to 1 gigawatt.

Announced during Korea President Jae Myung Lee’s AI Summit visit to San Francisco, the planned 200-megawatt expansion marks a significant acceleration of Korea’s national AI ambitions. The expanded infrastructure will be built with the NVIDIA DSX platform at NAVER’s GAK Sejong hyperscale data center in Sejong, South Korea.

NVIDIA plans to invest $1 billion into NAVER Corp. and Brookfield plans to fund up to $9 billion for AI infrastructure. NAVER will fund the remaining amounts to finance the project. NVIDIA’s planned investment is subject to customary closing conditions. The expanded infrastructure will provide Korea- and U.S.-based AI innovators with access to production-scale AI compute for building next-generation models, agents and AI-powered services.

“NVIDIA’s planned strategic investment and our infrastructure supply agreement with Brookfield have propelled NAVER’s vision for the AI factory business into a robust execution phase,” said Haejin Lee, founder and chairman of NAVER. “Leveraging the solid partnerships with our global partners, we will drive technological innovation, foster a sovereign AI ecosystem and spearhead efforts to strengthen South Korea’s AI competitiveness.”

“The partnership will combine Brookfield’s global AI infrastructure investment capabilities, NAVER’s full-stack AI and data center operating expertise, and NVIDIA’s accelerated computing platform to advance Korea’s AI capabilities,” said Sikander Rashid, global head of AI infrastructure at Brookfield. “As AI adoption accelerates across the global economy, access to trusted, sovereign and scalable AI infrastructure is becoming an increasingly important strategic priority for companies and countries.”

“AI factories are the infrastructure nations need to compete and innovate in the intelligence era,” said Jensen Huang, founder and CEO of NVIDIA. “Together, NAVER, NVIDIA and Brookfield are building sovereign AI infrastructure at the scale needed to fuel Korea’s startups and industries. This is how nations and companies are building their futures in the age of AI.”

Expanding AI Factory Capacity to Fuel AI Innovators

The 200-megawatt AI factory is expected to feature advanced NVIDIA AI infrastructure including the NVIDIA Vera Rubin and NVIDIA Blackwell platforms. It intends to establish a dedicated resource pool for emerging AI companies, providing the compute, software and support needed to develop and deploy competitive AI models and applications at scale. As an NVIDIA Cloud Partner, NAVER provides deep expertise in operating hyperscale infrastructure powered by the full-stack NVIDIA AI platform.

Today’s proposed expansion builds on the June announcement in which NAVER committed to extending its GAK Sejong data center with NVIDIA DSX, with a long-term path to gigawatt-scale sovereign AI infrastructure to serve Korea’s enterprises, industries, government organizations and global AI cloud customers.

Brookfield Investments Scale AI Infrastructure Deployments

Brookfield has established one of the industry’s leading AI infrastructure investment platforms, with approximately $100 billion of assets under management across the AI infrastructure value chain including data centers, compute, semiconductor manufacturing and dedicated power generation.

The planned NAVER investment will mark another significant milestone in Brookfield’s strategic partnership with NVIDIA. Building on NVIDIA’s participation as a founding partner in the Brookfield Global AI Infrastructure Program, the planned investment combines Brookfield’s capital and AI infrastructure and power expertise with NVIDIA’s accelerated computing platform to support the deployment of large-scale AI factories.

Brookfield has been an active, long-term investor in Korea since establishing a presence in the country in 2014 across infrastructure, real estate and energy.

NVIDIA DSX Platform Powers Expansion

The NVIDIA DSX platform provides an end-to-end, codesigned stack for AI factories — spanning chips, systems, software, facilities and partner technologies — purpose-built to minimize token cost and accelerate time to first production.

NVIDIA DSX MaxLPS™ software maximizes token throughput per megawatt, while NVIDIA DSX OS™ provides lifecycle management, health automation, resiliency and multi-tenant AI factory management across the expanded infrastructure.

Open Models Accelerate Growth

In addition, the expanded infrastructure builds on NAVER and NVIDIA’s collaboration on open model development for agentic and physical AI. NAVER is advancing its HyperCLOVA X models to be based on NVIDIA Nemotron™ 3 Ultra open models with its proprietary data and training expertise. NAVER is also the first Korean company to join the NVIDIA Nemotron Coalition, contributing to open model development across pretraining, post-training and reinforcement learning.

NAVER plans to launch an AI agent platform in Korea in the second half of the year, powered by NVIDIA Agent Toolkit software including NVIDIA NemoClaw™ blueprints. NAVER is also developing a Seoul World Model using proprietary urban street-view and spatial modeling data, built on NVIDIA Cosmos™ world foundation models.

About NAVER

Founded in 1999, NAVER is Korea's largest Internet company and one of the world's top tech companies. Leading cutting-edge technologies, NAVER operates No.1 search engine in Korea and holds various business portfolios encompassing commerce, fintech, cloud, AI and robotics.

NAVER recorded sales of KRW 12.04 trillion (USD 8.18 billion) in 2025. TEAM NAVER continues to enhance its business portfolio and expand its global presence across Japan, North America, and Europe, while pursuing innovation through continuous research and development in future technologies.

About Brookfield

Brookfield is a leading global investment firm with more than $1 trillion in assets under management. The firm owns and operates high-quality businesses and real assets that provide essential services and form the backbone of the global economy. Brookfield invests on behalf of institutions and individuals around the world across infrastructure, energy, private equity, real estate, and credit. With more than a century of operating experience and a global presence in over 30 countries, Brookfield deploys long-term capital to generate sustainable value for its clients and shareholders. Brookfield Corporation (NYSE: BN, TSX: BN) and Brookfield Asset Management (NYSE: BAM, TSX: BAM) are publicly traded in New York and Toronto.

For more information, please visit our website at http://www.brookfield.com.

About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

For further information, contact:
Corporate Communications
NVIDIA Corporation
[email protected]

Hyeyeon Jang
NAVER PR
[email protected]

Simon Maine
Brookfield
+44 739 890 9278
[email protected]

Catherine Woods
Brookfield
+61 477 320 333
[email protected]

NVIDIA Forward-Looking Statements

Certain statements in this press release including, but not limited to, statements as to: together, NAVER, Brookfield and NVIDIA building sovereign AI infrastructure at the scale needed to fuel Korea’s startups and industries; expectations with respect to NVIDIA’s partnership with NAVER and Brookfield; expectations with respect to demand, growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, DSX, DSX MaxLPS, DSX OS, NemoClaw, Nemotron, NVIDIA Cosmos are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

NAVER Forward-Looking Statements

This press release contains forward-looking statements regarding the NAVER’s future plans, outlook, and initiatives, as of the date of this release. Actual results and outcomes may differ materially depending on future changes in market conditions and business circumstances.

Brookfield Cautionary Statement

This news release contains “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of other relevant securities legislation, including applicable securities laws in Canada, which reflect our current views with respect to, among other things, our operations and financial performance (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to the impact of the partnership on Brookfield, NAVER and NVIDIA and the expected benefits of Brookfield’s investment.

Although Brookfield believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, certain factors, risks and uncertainties, which are described from time to time in our documents filed with the securities regulators in Canada and the United States, not presently known to Brookfield or that that Brookfield currently believes are not material, could cause actual results or events to differ materially from those contemplated or implied by forward-looking statements.

Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.

This news release constitutes a “designated news release” for the purposes of the prospectus supplement dated November 19, 2025 to the short form base shelf prospectus of Brookfield Infrastructure Corporation and Brookfield Infrastructure Partners L.P. dated January 29, 2025

BROOKFIELD, News, July 21, 2026 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN) (“BIP”) and Brookfield Infrastructure Corporation (NYSE: BIPC; TSX: BIPC) (“BIPC”, and together with BIP, “Brookfield Infrastructure”) today announced that it has approved plans to simplify its corporate structure (the “Simplification”) by converting BIP and BIPC into one publicly traded corporation, Brookfield Infrastructure Partners Inc. (“BIP Inc.”).  

“We are proud to mark the next chapter in Brookfield Infrastructure Partners’ evolution as a public company,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “The simplification is designed to broaden our investor base, support increased index demand and make Brookfield Infrastructure easier to own through a traditional corporate structure. This transaction is expected to drive long-term value for all securityholders.”

Benefits of a Simplified Structure

Brookfield Infrastructure expects the Simplification to be tax-deferred for Canadian and U.S. investors and completed without any meaningful cost to the business, while providing securityholders with the following benefits, among others:

Improved consolidated trading liquidity through a single listed security;Increased demand from current indices and potential additional index inclusion;Stronger alignment with long-term capital allocation trends toward indexable and ETF-eligible corporate securities;Simplified investor analysis, screening, and benchmarking through a single listed reporting entity;Broader access to a larger pool of investors who prefer corporate structures;Enhanced governance framework and voting rights for public securityholders; andFor BIP unitholders, elimination of onerous partnership tax reporting forms and preferential dividend tax rates for many Canadian and U.S. taxable investors. Corporate Simplification Details

Under the terms of the Simplification, upon receipt of approval from BIP unitholders, all outstanding limited partnership units of BIP, other than preferred units, will, together with certain related exchangeable securities, be exchanged on a one-for-one basis for newly issued shares of BIP Inc.

BIPC shareholders will separately be asked to approve the Simplification, pursuant to which their class A exchangeable subordinate voting shares in BIPC (the “BIPC exchangeable shares”) will be exchanged for new shares of BIP Inc. on a one-for-one basis. If BIPC shareholders vote in favor of the Simplification, the exchange can also be completed on a tax-deferred basis. If BIPC shareholders do not approve the Simplification, the BIPC exchangeable shares will remain outstanding and become exchangeable, on a one-for-one basis, for newly issued shares of BIP Inc., rather than being exchangeable for units of BIP as they are today.

Completion of the exchange of BIP limited partnership units for shares of BIP Inc. is not conditional on BIPC shareholder approval.

Special meetings of BIP unitholders and BIPC shareholders will be held on October 14, 2026, and securityholders of record as of the close of business on August 21, 2026 will be entitled to vote at the applicable meeting. The Simplification will be implemented by way of a court-approved plan of arrangement and will be subject to customary regulatory approvals for a transaction of this nature, including approval for the listing of BIP Inc.’s shares on the New York Stock Exchange and Toronto Stock Exchange. Following securityholder approval, Brookfield Infrastructure expects to complete the Simplification in the fourth quarter of 2026.

There will be no change to Brookfield’s ownership of Brookfield Infrastructure as a result of the Simplification. BIP’s preferred units and public debt will remain outstanding and unaffected by the Simplification.

Brookfield Asset Management’s management fee and incentive distribution arrangements will continue in a manner consistent with Brookfield Infrastructure’s existing arrangements.

The Board of Directors of each of BIP and BIPC, based in part on the unanimous recommendations of their respective special committees (consisting entirely of independent directors) and the fairness opinions received from Scotiabank, unanimously determined that the Simplification is in the best interests of BIP and BIPC, respectively, and have unanimously resolved to approve the Simplification and recommend that BIP unitholders and BIPC shareholders vote in favor of the Simplification.

Torys LLP is acting as legal advisor to Brookfield Infrastructure for the Simplification.

Scotiabank is acting as independent financial advisor and Goodmans LLP is acting as independent legal counsel to the special committees of each of BIP and BIPC in connection with the Simplification.

Further information regarding the Simplification, including details on the votes that will be required and the other conditions for closing, will be contained in a joint management information circular of BIP and BIPC.

Copies of the joint management information circular, the arrangement agreement, the plan of arrangement and certain related documents will be filed with the applicable Canadian securities regulators and with the United States Securities and Exchange Commission and will be available on SEDAR+ at https://sedarplus.ca and on EDGAR at https://sec.gov.

About Brookfield Infrastructure

Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. We are focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows. Investors can access its portfolio either through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at https://bip.brookfield.com.

Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager, headquartered in New York with over $1 trillion of assets under management. For more information, go to https://brookfield.com.

Contact Information

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any securities to be issued in the transaction will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States, and any securities issued in connection with the transaction are anticipated to be issued in reliance upon the exemption from the registration requirements of the U.S. Securities Act provided for by Section 3(a)(10) thereof and in accordance with applicable state securities laws.

Cautionary Statement Regarding Forward-looking Statements

This news release may contain “forward-looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws. The words “will”, “target”, “future”, “growth”, “expect”, “believe”, “may”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements or information in this news release include statements with respect to the Simplification and the special meetings of the unitholders of BIP and the shareholders of BIPC.

Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure, and the completion of the Simplification, are subject to a number of known and unknown risks and uncertainties, which could cause actual results to differ materially from those contemplated or implied by the forward-looking statements or information in this news release. Such risks and factors are described in the documents filed by Brookfield Infrastructure with the securities regulators in Canada and the United States including under “Risk Factors” in the most recent Annual Report on Form 20-F of BIP and in the most recent Annual Report on Form 20-F of BIPC, and other risks and factors that are described therein. Certain risks and uncertainties specific to the proposed Simplification will be further described in the joint management information circular of BIP and BIPC to be delivered to security holders in advance of the special meetings. Except as required by law, Brookfield Infrastructure undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

Any statements contained herein with respect to tax consequences are of a general nature only and are not intended to be, nor should they be construed to be, legal or tax advice to any person, and no representation with respect to tax consequences is made. Unitholders and shareholders are urged to consult their tax advisors with respect to their particular circumstances.

LXP Industrial Trust shareholders to receive $61.20 per share in cash

Purchase price represents a 12.3% premium to the 30-day VWAP and a 19.8% premium to the 90-day VWAP

NEW YORK and TORONTO and WEST PALM BEACH, Fla., July 20, 2026 (GLOBE NEWSWIRE) -- Brookfield Asset Management (NYSE: BAM, TSX: BAM) (“Brookfield”), together with Canada Pension Plan Investment Board (“CPP Investments”), and LXP Industrial Trust (NYSE: LXP) (“LXP” or the “Company”), today announced that they have entered into a definitive merger agreement under which Brookfield and CPP Investments (collectively, “Buyer”) will acquire LXP in an all-cash transaction valued at approximately $5.2 billion, including net debt and preferred equity.

LXP owns one of the largest portfolios of modern warehouse and logistics facilities in the United States, comprising approximately 53 million square feet across 108 properties in attractive industrial markets in the Sunbelt and Midwest. The portfolio is characterized by modern assets, strong occupancy and long-duration leases that generate durable cash flows and is well positioned to benefit from the demand for high-quality, well-located logistics properties.

Thomas W. Eglin, Jr., Chairman and Chief Executive Officer of LXP, said “This transaction is the culmination of the LXP team’s successful execution of our strategic plan to transform LXP into a pure-play industrial REIT, curate a best-in-class portfolio, and implement our development program. The LXP Board unanimously determined that this transaction with Brookfield and CPP Investments fully maximizes value for our shareholders.”

“LXP has assembled a high-quality industrial portfolio with modern logistics assets in attractive markets,” said Lowell Baron, Chief Executive Officer of Brookfield Real Estate. “The acquisition aligns with our strategy of investing in high-quality real estate with durable cash flows and opportunities to create value through active asset management. We’re excited to partner with CPP Investments and build on LXP’s strong foundation.”

“The industrial sector, particularly in the U.S., continues to offer attractive long-term investment opportunities, supported by structural demand drivers including domestic manufacturing, evolving global supply chains and population growth across key Sunbelt markets,” said Sophie van Oosterom, Managing Director, Head of Real Estate at CPP Investments. “We look forward to partnering with Brookfield and combining their operating expertise with a well-positioned portfolio to generate sustainable investment returns for the CPP Fund in the interests of CPP contributors and beneficiaries.”

Under the terms of the definitive merger agreement, LXP shareholders will receive $61.20 per share in cash, which represents a 12.3% premium to LXP’s 30-day volume weighted average price (“VWAP”) and 19.8% premium to LXP’s 90-day VWAP, in each case for the period ended July 17, 2026.

Transaction Details

The transaction has been unanimously approved by LXP’s Board of Trustees and is expected to close in the fourth quarter of 2026, subject to approval by LXP’s shareholders and satisfaction of other customary closing conditions. The transaction is not subject to a financing condition.

The definitive agreement includes a 40-day “go-shop” period expiring at 11:59 p.m. New York City time on August 28, 2026, during which time LXP, with the assistance of its advisors, may actively solicit and consider alternative acquisition proposals and engage in discussions with third parties. Subject to the terms and conditions of the definitive agreement, including notice and negotiation rights in favor of Buyer, LXP may terminate the transaction and the definitive agreement to enter into a transaction that constitutes a superior proposal, subject to the payment of a termination fee.

There can be no assurance that the solicitation process will result in a superior proposal or that any other transaction will be approved or completed. LXP does not intend to disclose developments with respect to this solicitation process unless and until its Board determines such disclosure is appropriate or otherwise required.

Under the terms of the definitive merger agreement, LXP has agreed to suspend payment of common share dividends until the earlier of the closing of the transaction or the termination of the definitive agreement.

Subject to and upon completion of the transaction, LXP’s shares will no longer trade on the New York Stock Exchange and LXP will become a privately-held company.

LXP’s Second Quarter 2026 Results

LXP intends to release its second quarter 2026 financial results as scheduled on July 29, 2026. In light of the pending transaction, LXP does not intend to continue hosting conference calls or webcasts to discuss its quarterly financial results.

Advisors

BofA Securities, Inc. is acting as lead financial advisor, J.P. Morgan Securities LLC is acting as co-financial advisor and Hogan Lovells Cadwalader US LLP is serving as legal advisor to LXP.

Citigroup Global Markets Inc. and Morgan Stanley & Co. LLP are serving as financial advisors and Gibson, Dunn & Crutcher LLP and Thompson Hine LLP are serving as legal advisors to Brookfield and CPP Investments, with DLA Piper LLP serving as legal advisor to CPP Investments in connection with certain aspects of the transaction. Dechert LLP is acting as legal advisor to Citigroup Global Markets Inc. and Morgan Stanley & Co LLP.

About Brookfield Asset Management
Brookfield Asset Management Ltd. (NYSE, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield’s heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles.

For more information, please visit our website at www.bam.brookfield.com.

About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Canada Pension Plan Fund in the best interests of the more than 22 million contributors and beneficiaries. In order to build diversified portfolios of assets, we make investments around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan at arm’s length from governments. At March 31, 2026, the Fund totaled $793.3 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

About LXP Industrial Trust

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and Midwest. LXP seeks to expand its warehouse and distribution portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions. For more information, please visit LXP’s website at www.lxp.com.

Additional Information and Where to Find It

In connection with the proposed transaction, the Company intends to file with the Securities and Exchange Commission (“SEC”) a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC (if and when it becomes available), the Company will mail the definitive proxy statement and a proxy card to each shareholder entitled to vote at the special meeting relating to the proposed transaction. This communication is not a substitute for the proxy statement or any other document which the Company may file with the SEC. INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT THE COMPANY FILES WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proposals for consideration by the Company’s shareholders regarding the proposed transaction will be made solely through the proxy statement. The definitive proxy statement, the preliminary proxy statement and any other documents filed by the Company with the SEC (when available) may be obtained free of charge at the SEC’s website at www.sec.gov or by accessing the Investor Relations section of the Company’s website at www.lxp.com or by contacting the Company’s Investor Relations team by email at [email protected].

Participants in the Solicitation

This communication does not constitute a solicitation of a proxy, an offer to purchase or a solicitation of an offer to sell any securities. The Company and certain of its trustees and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s shareholders with respect to the proposed transaction. Information about the Company’s trustees and executive officers and their ownership of the Company’s securities is set forth in the Company’s definitive proxy statement on Schedule 14A for its 2026 annual meeting of shareholders, filed with the SEC on April 3, 2026, and subsequent documents filed with the SEC. Additional information regarding the identity of participants in the solicitation of proxies, and a description of their direct or indirect interests in the proposed transaction, by security holdings or otherwise, will be set forth in the definitive proxy statement and other materials to be filed with the SEC in connection with the proposed transaction when they become available. Free copies of these documents may be obtained as described in the preceding paragraph.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained herein, other than historical fact, regarding the proposed transaction, including any statements regarding the expected timetable for completing the proposed transaction and benefits of the proposed transaction, and any other statements regarding the Company’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties. No forward-looking statement is intended to, nor shall it, serve as a guarantee of future performance. You can identify the forward-looking statements by the use of words such as “may,” “will,” “would,” “could,” “should,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” "seek," "endeavor," and other similar terms and phrases. Forward-looking statements are subject to various risks and uncertainties and factors that could cause actual results to differ materially from the Company’s expectations, and you should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control and could materially affect the Company’s results of operations, financial condition, cash flows, performance or future achievements or events. Some of the factors that may affect outcomes and results include, but are not limited to: (i) risks associated with the Company’s ability to obtain the shareholder approval required to consummate the proposed transaction and the timing of the closing of the proposed transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed transaction would not occur, (ii) the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement and the costs related to such proceedings, (iii) the risk that shareholder litigation or other proceedings in connection with the proposed transaction may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability, (iv) unanticipated difficulties or expenditures relating to the proposed transaction, the response of the Company’s tenants, business partners and competitors to the announcement of the proposed transaction, potential difficulties with the Company’s ability to retain and hire key personnel and maintain its business relationships, including those with tenants and other third parties, as a result of the proposed transaction, and/or potential difficulties in employee retention as a result of the announcement and pendency of the proposed transaction, (v) changes affecting the real estate industry and changes in market and economic conditions, including tariffs, geopolitical tensions and elevated inflation and interest rates that may adversely impact the Company or its tenants, (vi) increased or unanticipated competition in the real estate market, (vii) the uncertainties of real estate development, acquisition and disposition activity, (viii) maintenance of real estate investment trust status, (ix) fluctuations in interest rates and the costs and availability of financing, (x) dependence on tenants’ financial condition, (xi) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement, (xii) the ability to recognize the anticipated benefits of the proposed transaction and (xiii) the risk that the Company’s stock price may decline significantly if the proposed transaction is not consummated. Additional factors include those described under the section entitled Item 1A. “Risk Factors” of Part I of the Company’s 2025 Annual Report on Form 10-K, as filed with the SEC on February 12, 2026, a copy of which is available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Brookfield Contact

Laura Montross
Communications
508-769-5942
[email protected]

CPP Investments Contact

Frank Switzer
Public Affairs & Communications
416-523-8039
[email protected]

LXP Contact

Investors
Heather Gentry
212-692-7219
[email protected]

Media
Andrew Siegel/Lucas Pers
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Brookfield Corporation (BN +0.69%) has been quietly building an investment-led insurance platform. This strategy has provided it with a growing source of perpetual capital to invest, enabling it to generate more fee-based income. The company has grown its insurance portfolio to over $180 billion in assets.

That's only the beginning. Here's why insurance is becoming Brookfield's next growth engine.

Image source: The Motley Fool.

Quietly building an insurance behemoth one deal at a time Brookfield initially formed its dedicated insurance platform in 2021 with the creation and spinoff of Brookfield Asset Management Reinsurance Partners, which it later renamed Brookfield Wealth Solutions (BNT +0.78%). The company initially created a separate insurance arm to grow that platform. It has certainly done that over the past five years.

The biggest growth driver has been acquisitions. Brookfield Wealth Solutions bought American National ($5.1 billion in 2022), Argo ($1.1 billion in 2023), AEL ($4.3 billion in 2024), and Just Group ($3.2 billion in 2026). These deals have helped grow its total capital from $5.7 billion in 2022 to $19.8 billion at the end of last year, while increasing its insurance assets from $45 billion to over $180 billion. Meanwhile, its distributable earnings have skyrocketed from $30 million in 2021 to $1.7 billion last year.

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Only the beginning Brookfield is about to embark on the next phase of its investment-led insurance growth strategy by recombining with Brookfield Wealth Solutions. Shareholders will vote on the deal later this week, which the company hopes to close by year-end. The combination will simplify its corporate structure, provide its insurance operations with greater access to Brookfield's corporate balance sheet, and give it greater flexibility to optimize its long-term expansion.

The company aims to grow its insurance assets to $350 billion by 2030. While Brookfield plans to continue making acquisitions, it expects organic growth to do most of the heavy lifting going forward. It sees a combination of the recently closed Just Group deal, annuity growth, and asset rotation and optimization of its existing insurance assets, boosting the distributable earnings of its wealth solutions platform to $4.8 billion by 2030. Meanwhile, it anticipates that future acquisitions will push this segment's earnings up over $5.5 billion.

That's a meaningful growth engine for the leading global investment firm. Brookfield currently expects the combined company to grow its earnings at a 25% compound annual rate through 2030. The company anticipates its wealth solutions business to contribute 34% of its total earnings growth during that period. That's the biggest growth driver, well ahead of the growth contribution it expects from capital allocation (23%), carried interest (22%), asset management (19%), and its operating businesses (2%).

Brookfield has quietly built up a leading insurance platform over the past few years. That business has become a major growth driver for the company. It will play a starring role in supporting Brookfield's plans to deliver 25% compound annual earnings growth through 2030. That robust earnings growth should significantly boost Brookfield's stock, which it expects will be worth about $140 by 2030. With its share price currently in the low-$40's, Brookfield's high-powered insurance-driven growth profile makes it look like one of the best financial stocks to buy and hold for the long term right now.

Matt DiLallo has positions in Brookfield Corporation and has the following options: short July 2026 $40 puts on Brookfield Corporation. The Motley Fool has positions in and recommends Brookfield Corporation and Brookfield Wealth Solutions. The Motley Fool has a disclosure policy.

For the second time this year, one of Bloom Energy’s (BE 2.11%) strategic partners has significantly expanded its partnership less than a year after forming the initial collaboration. This time, it’s Brookfield Asset Management (BAM +1.34%). The global alternative asset manager is expanding its AI infrastructure partnership to $25 billion, a five-fold increase since forming the initial partnership last October. That follows Oracle’s (ORCL 1.62%) decision to significantly expand its strategic partnership after Bloom Energy delivered a fully operational fuel system to the cloud giant more than a month ahead of the anticipated deployment schedule.

Here’s what investors need to know about this expanded partnership.

Image source: The Motley Fool.

Quintupling its investmentBrookfield sees a massive opportunity to invest in AI infrastructure. The global alternative investment firm estimates that total spending on AI-related infrastructure will exceed $1 trillion this decade and $7 trillion over the next 10 years. The company wants to capitalize on this once-in-a-generation opportunity to build the digital infrastructure backbone of the future. That led it to launch the inaugural Brookfield AI Infrastructure Fund late last year, which aims to acquire up to $100 billion of AI infrastructure assets.

One of Brookfield’s first seed investments in that fund was its initial $5 billion partnership with Bloom Energy. As part of that partnership, Brookfield would deploy up to 1 GW of Bloom Energy’s advanced fuel cells to power data centers and AI factories (specialized AI data centers). The two companies are also collaborating on the design and delivery of AI factories.

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Brookfield is now boosting its investment commitment to $25 billion due to strong, sustained demand from hyperscalers and AI infrastructure developers for fast, reliable, and community-friendly power. The expanded partnership brings together Brookfield’s leadership in developing AI infrastructure, access to capital, and operating scale with Bloom’s rapidly deployable on-site power solution. The companies believe this partnership will help them advance a new model for AI factory development that integrates power, compute, data center infrastructure, and capital.

The standard for on-site powerBloom Energy founder and CEO KR Sridhar believes the company is “ushering in the era of digital power for the digital age” as it’s “rapidly becoming the standard and 'go-to choice' for on-site power.” The expanded partnerships with Brookfield and Oracle show the truth behind that bold statement.

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Oracle selected Bloom Energy to deploy its fuel cell technology at selects data centers last year because these fast-to-deploy power solutions could meet the high demands of AI workloads. Bloom delivered its first system in 55 days, well ahead of the 90-day target. That convinced Oracle to expand its agreement to acquire up to 2.8 GW of Bloom’s fuel cell systems, including the 1.2 GW it has already contracted. Brookfield and its clients are also seeing the benefits of deploying Bloom’s fuel cells to power data centers. The rapid deployment is huge, as securing and building power infrastructure has proven to be a major bottleneck in slowing AI data center development.

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The growing popularity of Bloom’s fuel cell systems is powering rapid growth for the hydrogen company. Bloom’s revenue rocketed 130% in the first quarter to $750 million, while its operating income surged $91.3 million to $72.2 million. Bloom currently expects to book between $3.4 billion and $3.8 billion of revenue this year, up 80% from last year (an acceleration from the 60% growth it initially expected). With Brookfield now following Oracle in significantly expanding its order, Bloom’s revenue should continue surging.

Bloom might not be as expensive as it looksBloom’s accelerating revenue and expanding strategic partnerships have sent its stock soaring by more than 1,100% over the past year. As a result, the fuel cell company trades at over 30 times sales and more than 135 times forward earnings. While Bloom is growing exceptionally fast, that’s a hefty premium. However, the expanded Brookfield deal alone is now worth nearly a third of Bloom’s entire market cap (recently $83 billion). With the potential for more large-scale partnerships in the future, Bloom might not be as expensive as it seems. It's becoming the go-to stock to play the AI power boom.

Matt DiLallo has positions in Brookfield Asset Management and has the following options: short August 2026 $150 puts on Bloom Energy. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, and Oracle. The Motley Fool has a disclosure policy.