All amounts in US dollars unless otherwise indicated
Under Brookfield Renewable’s normal course issuer bid for Preferred Units, Brookfield Renewable is authorized to repurchase a total of approximately 10% of the public float of each respective series of the Preferred Units as follows:
| Series | Ticker | Issued and outstanding units1 | Public float1 | Average daily trading volume2 | Maximum number of units subject to purchase3 | |
| Total | Daily | |||||
| 5 | BEP.PR.E | 2,885,496 | 2,885,496 | 2,223 | 288,549 | 1,000 |
| 7 | BEP.PR.G | 7,000,000 | 7,000,000 | 8,704 | 700,000 | 2,176 |
| 9 | BEP.PR.I | 8,000,000 | 8,000,000 | 6,573 | 800,000 | 1,643 |
| 11 | BEP.PR.K | 10,000,000 | 10,000,000 | 10,689 | 1,000,000 | 2,672 |
| 13 | BEP.PR.M | 10,000,000 | 10,000,000 | 13,496 | 1,000,000 | 3,374 |
| 15 | BEP.PR.O | 7,000,000 | 7,000,000 | 28,743 | 700,000 | 7,185 |
| 1. | Calculated as at July 3, 2019. |
| 2. | For the 6 months ended June 30, 2019, with the exception of the Series 15 Preferred Units which were issued on March 11, 2019. |
| 3. | In accordance with TSX rules, any daily repurchases with respect to the Series 5 Preferred Units would be limited to 1,000 Preferred Units. |
Under BRP Equity’s normal course issuer bid for Preferred Shares, BRP Equity is authorized to repurchase a total of approximately 10% of the public float of each respective series of the Preferred Shares as follows:
| Series | Ticker | Issued and outstanding shares4 | Public float4 | Average daily trading volume5 | Maximum number of shares subject to purchase6 | |
| Total | Daily | |||||
| 1 | BRF.PR.A | 5,449,675 | 5,448,875 | 5,974 | 544,887 | 1,493 |
| 2 | BRF.PR.B | 4,510,389 | 4,510,389 | 3,077 | 451,038 | 1,000 |
| 3 | BRF.PR.C | 9,961,399 | 9,961,399 | 8,474 | 996,139 | 2,118 |
| 5 | BRF.PR.E | 7,000,000 | 4,114,504 | 2,407 | 411,450 | 1,000 |
| 6 | BRF.PR.F | 7,000,000 | 7,000,000 | 3,587 | 700,000 | 1,000 |
| 4. | Calculated as at July 3, 2019. |
| 5. | For the 6 months ended June 30, 2019. |
| 6. | In accordance with TSX rules, any daily repurchases with respect to the Series 2, Series 5 and Series 6 Preferred Shares would be limited to 1,000 Preferred Shares. |
Repurchases under each normal course issuer bid are authorized to commence on July 9, 2019 and each normal course issuer bid will terminate on July 8, 2020, or earlier should Brookfield Renewable or BRP Equity, as applicable, complete its repurchases under its respective normal course issuer bid prior to such date.
Under BRP Equity’s prior normal course issuer bid that commenced on June 27, 2018 and expired on June 26, 2019, BRP Equity previously sought and received approval from the TSX to repurchase up to 544,887 Series 1 Preferred Shares, 451,038 Series 2 Preferred Shares, 996,139 Series 3 Preferred Shares, 411,450 Series 5 Preferred Shares and 700,000 Series 6 Preferred Shares. BRP Equity has not repurchased any Preferred Shares in the past 12 months.
All purchases of the Preferred Units and Preferred Shares will be effected through the facilities of the TSX and/or alternative trading systems, and all Preferred Units and Preferred Shares acquired under the applicable normal course issuer bid will be cancelled. Repurchases will be subject to compliance with applicable Canadian securities laws.
From time to time, when Brookfield Renewable or BRP Equity does not possess material non-public information about itself or its securities, it may enter into automatic purchase plans with its broker to allow for the purchase of Preferred Units or Preferred Shares, as applicable, at times when it ordinarily would not be active in the market due to its own internal trading blackout periods and insider trading rules. Any such plans entered into with the broker of Brookfield Renewable or BRP Equity will be adopted in accordance with applicable Canadian securities laws. The series of Preferred Units and Preferred Shares subject to an automatic purchase plan may vary. Outside of these periods, Preferred Units and Preferred Shares will be repurchased in accordance with management’s discretion and in compliance with applicable law.
Brookfield Renewable Partners
Brookfield Renewable Partners operates one of the world’s largest publicly traded, pure-play renewable power platforms. Our portfolio consists of hydroelectric, wind, solar and storage facilities in
Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with over
Please note that Brookfield Renewable’s previous audited annual and unaudited quarterly reports filed with the
| Contact information: | |
| Media: Claire Holland Vice President – Communications (416) 369-8236 [email protected] | Investors: Divya Biyani Director – Investor Relations (416) 369-2616 [email protected] |
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
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.
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