Mr. Simon Maine reports

BROOKFIELD RENEWABLE ANNOUNCES $150 MILLION GREEN PERPETUAL SUBORDINATED NOTE ISSUANCE AND INTENTION TO REDEEM SERIES 15 PREFERRED UNITS

Brookfield Renewable Partners LP and Brookfield Renewable Corp. have closed the issuance of a series of $150-million of fixed-rate green perpetual subordinated notes, which upon settling of a concurrently executed Canadian-dollar swap have an effective coupon rate of 6.78 per cent. The sub notes, which have a coupon of 7.25 per cent, will be listed on the New York Stock Exchange under the symbol BEPJ and have the same accounting and rating treatment as its preferred limited partnership units. All amounts are in U.S. dollars unless otherwise stated.

The sub notes will represent Brookfield Renewable's 13th green labelled corporate securities issuance and the second issuance under Brookfield Renewable's 2024 green financing framework. Brookfield Renewable will use the net proceeds from the sale of the sub notes to finance or refinance eligible investments under Brookfield Renewable's 2024 green financing framework, including the redemption of its Class A preferred LP units, Series 15, which were scheduled to reset in April at approximately 70 basis points higher than the newly issued subnotes.

Wells Fargo Securities LLC, BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC acted as joint book-running managers for the offering.

The subnotes were not offered or sold, directly or indirectly, in Canada or to any resident of Canada.

Redemption of Series 15 preferred units

Brookfield Renewable intends to redeem all of its outstanding Series 15 preferred units (Toronto Stock Exchange: BEP.PR.O) for cash on April 30, 2024. The redemption price for each Series 15 Preferred unit will be $25. Holders of Series 15 preferred units of record as of April 15, 2024, will receive the previously declared final quarterly distribution of 35.9375 cents per Series 15 preferred unit.

About Brookfield Renewable Corp.

Brookfield Renewable operates one of the world's largest publicly traded platforms for renewable power and sustainable solutions. Its renewable power portfolio consists of hydroelectric, wind, utility-scale solar, and distributed energy and storage facilities in North America, South America, Europe and Asia.

Its operating capacity totals almost 33,000 megawatts, and its development pipeline stands at approximately 155,400 megawatts. Its portfolio of sustainable solution assets includes its investments in Westinghouse (a leading global nuclear service business) and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas, and material recycling.

Investors can access the portfolio either through Brookfield Renewable Partners, a Bermuda-based limited partnership, or Brookfield Renewable, a Canadian corporation.

Brookfield Renewable is the flagship listed renewable power and transition company of Brookfield Asset Management, a leading global alternative asset manager with over $900-billion of assets under management.