All amounts in Canadian dollars unless otherwise noted

BROOKFIELD , News, April 6, 2023 (GLOBE NEWSWIRE) — Brookfield Renewable Partners LP (“Brookfield Renewable”) BEPBEP announced today that it has determined the fixed distribution rate for its Class A Preferred Limited Partnership Units, Series 13 (“Series 13 Units”). BEP for the five years beginning May 1, 2023 and ending April 30, 2028.

Series 13 units and Series 14 units

If declared, the fixed quarterly distributions will be paid on the Series 13 units for the five years beginning May 1, 2023 at an annual rate of 6.05% ($0.378125 per unit per quarter).

Holders of Series 13 Shares have the right, at their election, to reclassify all or any of their Series 13 Shares on a one-to-one basis no later than 5:00 p.m. (Toronto time) on April 17, 2023, in Class A Preferred Limited Partnerships, Series 14 Shares (“Series 14 Shares”), effective 30 April 2023.

The quarterly floating rate distributions on the Series 14 Shares will be paid at an annualized rate of 3.00% over the annual yield of three month government bonds of Canada, calculated for each quarter. The actual quarterly distribution in respect of the distribution period May 1, 2023 to July 31, 2023 for the Series 14 Shares, if declared, is $0.466743 per Share, payable on July 31, 2023.

Holders of Series 13 Shares need not elect to reclassify all or any part of their Series 13 Shares into Series 14 Shares.

As provided in the Unit Terms for the Series 13 Units, (i) if Brookfield Renewable determines that less than 1,000,000 Series 13 Units would be outstanding after April 30, 2023, all remaining Series 13 Units will automatically be converted into Units of the Series 14 reclassifies on a one-to-one basis effective April 30, 2023; or (ii) if Brookfield Renewable determines that less than 1,000,000 Series 14 units would be outstanding after April 30, 2023, no Series 13 units will be reclassified as Series 14 units. There are…