All amounts in US dollars unless otherwise indicated
BROOKFIELD, News,
Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) (“BEP”) of its intention to renew its normal course issuer bids for its limited partnership units (“LP Units”) and Class A preferred limited partnership units (“Preferred Units”);Brookfield Renewable Corporation (TSX: BEPC; NYSE: BEPC) (“BEPC” and together with BEP, “Brookfield Renewable”) of its intention to renew its normal course issuer bid for its outstanding class A exchangeable subordinate voting shares (“Exchangeable Shares”); and- Brookfield Renewable Power Preferred Equity Inc. (“BRP Equity”) of its intention to renew its normal course issuer bid for its outstanding Class A preference shares (“Preferred Shares”). BRP Equity is a wholly-owned subsidiary of BEP.
Brookfield Renewable believes that in the event that the LP Units, Preferred Units, Exchangeable Shares or Preferred Shares trade in a price range that does not fully reflect their value, the acquisition of such securities may represent an attractive use of available funds. There are currently four series of Preferred Units and five series of Preferred Shares outstanding and listed on the TSX.
Under BEP’s normal course issuer bid for LP Units, BEP is authorized to repurchase up to 13,764,352 LP Units, representing 5% of its issued and outstanding LP Units. At the close of business on
Under BEPC’s normal course issuer bid for Exchangeable Shares, BEPC is authorized to repurchase up to 8,610,905 Exchangeable Shares, representing 5% of its issued and outstanding Exchangeable Shares. At the close of business on
Under BEP’s normal course issuer bid for Preferred Units, BEP 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 purchase | |
| Total | Daily | |||||
| 7 | BEP.PR.G | 7,000,000 | 7,000,000 | 4,846 | 700,000 | 1,211 |
| 13 | BEP.PR.M | 10,000,000 | 10,000,000 | 4,900 | 1,000,000 | 1,225 |
| 15 | BEP.PR.O | 7,000,000 | 7,000,000 | 4,093 | 700,000 | 1,023 |
| 18 | BEP.PR.R | 6,000,000 | 6,000,000 | 9,945 | 600,000 | 2,486 |
1. Calculated as at December 4, 2022.
2. For the 6 months ended November 30, 2022.
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 shares3 | Public float3 | Average daily trading volume4 | Maximum number of shares subject to purchase5 | |
| Total | Daily | |||||
| 1 | BRF.PR.A | 6,849,533 | 6,849,533 | 3,456 | 684,953 | 1,000 |
| 2 | BRF.PR.B | 3,110,531 | 3,110,531 | 1,101 | 311,053 | 1,000 |
| 3 | BRF.PR.C | 9,961,399 | 9,961,399 | 5,670 | 996,139 | 1,417 |
| 5 | BRF.PR.E | 7,000,000 | 4,114,504 | 2,565 | 411,450 | 1,000 |
| 6 | BRF.PR.F | 7,000,000 | 7,000,000 | 3,572 | 700,000 | 1,000 |
3. Calculated as atDecember 4, 2022.
4. For the 6 months ended November 30, 2022.
5. In accordance with TSX rules, any daily repurchases with respect to the Series 1 Preferred Shares, Series 2 Preferred Shares, Series 5 Preferred Shares and the Series 6Preferred Shares would be limited to 1,000 Preferred Shares of such series.
Repurchases under each normal course issuer bid are authorized to commence on
Under BEP’s prior normal course issuer bid for LP Units that commenced on
Under BEPC’s prior normal course issuer bid that commenced on
Under BEP’s prior normal course issuer bid for Preferred Units that commenced on
Under BRP Equity’s prior normal course issuer bid that commenced on
All purchases of the LP Units and Exchangeable Shares will be effected through the facilities of the TSX and/or the
From time to time, when Brookfield Renewable or BRP Equity does not possess material non-public information about itself or its securities, they may enter into automatic purchase plans with brokers to allow for the purchase of LP Units, Preferred Units, Exchangeable Shares or Preferred Shares, as applicable, at times when they ordinarily would not be active in the market due to their own internal trading blackout periods and insider trading rules. Any such plans entered into with a broker 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, LP Units, Preferred Units, Exchangeable Shares and Preferred Shares will be repurchased in accordance with management’s discretion and in compliance with applicable law.
Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Our portfolio consists of hydroelectric, wind, utility-scale solar and storage facilities in
Brookfield Renewable is the flagship listed renewable power company of
Please note that Brookfield Renewable’s previous audited annual and unaudited quarterly reports filed with the
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Cautionary Statement Regarding Forward-looking Statements
This news release contains forward-looking statements and information within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of applicable
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.
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