Brookfield Wealth Solutions (BNT) investor relations material

Business overview and strategy

• Operates a large, diversified portfolio of renewable power and transition assets across all major technologies, with over 275 GW of assets and development pipeline globally.

• Generates durable operating cash flows, with ~90% of revenues contracted for an average of 13 years and ~70% indexed to inflation.

• Maintains a strong presence in developed markets, with ~75% of FFO from these regions and a focus on lowest-cost, mature technologies.

• Strategic partnerships with major global power buyers and governments, including transformational agreements in nuclear power.

• Positioned for outsized earnings growth, targeting $9-10+ billion in capital deployment over five years and 12-15% total returns.

Financial performance and growth targets

• Targets 10%+ annual FFO per unit growth and 5-9% annual distribution growth, supported by inflation escalation, margin enhancement, development pipeline, and accretive M&A.

• Demonstrates a decade-long track record of stable FFO and distribution growth, with FFO per unit CAGR of 8% and distribution per unit CAGR of 5% from 2015 to 2025.

• Flexible, opportunistic investment approach, deploying ~$850M annually into development and investing in large, differentiated platforms.

Balance sheet and capital management

• Maintains an investment grade BBB+ balance sheet, with $32B in non-recourse debt at a 4.6% average rate and 13-year average term, and $4.6B in available liquidity.

• Funding sources are diversified, including preferred equity, corporate debt, asset-level financings, strategic equity issuances, and asset sales totaling $8.6B over five years.

• Capital recycling is programmatic and recurring, with platform, minority stake, and asset-level sales, and the launch of private renewable vehicles.