Brookfield Renewable (BEPC) investor relations material

Executive summary

• Achieved record Q2 2025 FFO of $371M, up 10% year-over-year, driven by strong hydro and nuclear performance, stable inflation-linked cash flows, and new project contributions.

• Signed landmark hydro framework agreements with Google for up to 3 GW in the US and with Microsoft for 10.5 GW, reinforcing partnerships with major tech firms.

• Delivered 7,700 MW of new renewable capacity in the past year and expect to commission 8,000 MW in 2025.

• Advanced commercial initiatives, securing contracts for 4,300 GWh/year and progressing $1.5B in asset sales since Q2 start.

• Maintained a robust balance sheet and $4.7B in available liquidity, supporting continued growth.

Financial highlights

• Q2 2025 revenue was $1.69B, up from $1.48B year-over-year; Adjusted EBITDA was $700M, up from $629M.

• FFO reached $371M or $0.56 per unit, up from $339M or $0.51 per unit; net loss attributable to unitholders was $112M, improved from $154M.

• Hydroelectric segment FFO grew over 50% year-over-year to $205M, reflecting strong US and Colombian performance.

• Distributed energy, storage, and sustainable solutions FFO up nearly 40% year-over-year, led by Westinghouse nuclear services.

• Asset sales since Q2 start generated $1.5B in proceeds, with 2025 asset sales expected to exceed prior year.

Outlook and guidance

• Targeting 10%+ FFO per unit growth for 2025, maintaining a long-term total return target of 12–15%.

• Expect to deliver $430M in annualized FFO from new and advanced-stage development assets over the next three years.

• Anticipate commissioning 8,000 MW of new renewable capacity in 2025, a record for the business.

• Robust demand for power and energy solutions expected to drive continued growth, with a 230+ GW project pipeline including significant battery storage.

• Long-term distribution growth rate targeted at 5–9% annually; next quarterly distribution of $0.373 per LP unit payable September 30, 2025.