Brookfield Renewable Partners And Brookfield Renewable Approve Plans To Simplify Its Corporate Structure By Converting BEP And BEPC Into One Publicly Traded Corporation, Brookfield Renewable Partners

Brookfield Renewable Partners L.P. (NYSE:BEP, TSX:BEP) ("BEP") and Brookfield Renewable Corporation (NYSE:BEPC, TSX:BEPC) ("BEPC", and together with BEP, "Brookfield Renewable") today announced that it has approved plans to simplify its corporate structure (the "Simplification") by converting BEP and BEPC into one publicly traded corporation, Brookfield Renewable Partners Inc. ("BEP Inc.").  

"We are pleased to take this important step in the evolution of Brookfield Renewable," said Connor Teskey, Chief Executive Officer of Brookfield Renewable. "By simplifying our corporate structure, we expect to enhance the accessibility of our securities to a broader range of investors, support increased index demand and provide a traditional corporate ownership structure. We believe this transaction will strengthen our position over the long term and create lasting value for our investors."