Investor Presentaiton
BROOKFIELD RENEWABLE CORPORATION REPORTS
FOURTH QUARTER AND FULL-YEAR 2021 RESULTS
All amounts in U.S. dollars unless otherwise indicated
The Board of Directors of Brookfield Renewable Corporation ("BEPC" or our "company") (NYSE, TSX: BEPC) today
has declared a quarterly dividend of $0.32 per class A exchangeable subordinate voting share of BEPC (a "Share"),
payable on March 31, 2022 to shareholders of record as at the close of business on February 28, 2022. This dividend
is identical in amount per share and has identical record and payment dates to the quarterly distribution announced
today by BEP on BEP's LP units.
The BEPC exchangeable shares are structured with the intention of being economically equivalent to the non-voting
limited partnership units of Brookfield Renewable Partners L.P. ("BEP" or the "Partnership") (NYSE: BEP; TSX:
BEP.UN). We believe economic equivalence is achieved through identical dividends and distributions on the BEPC
exchangeable shares and BEP's LP units and each BEPC exchangeable share being exchangeable at the option of
the holder for one BEP LP unit at any time. Given the economic equivalence, we expect that the market price of the
Shares will be significantly impacted by the market price of BEP's LP units and the combined business performance
of our company and BEP as a whole. In addition to carefully considering the disclosures made in this news release
in its entirety, shareholders are strongly encouraged to carefully review BEP's continuous disclosure filings available
electronically on EDGAR on the SEC's website at www.sec.gov or on SEDAR at www.sedar.com.
Financial Results
UNAUDITED
FOR THE PERIODS ENDED DECEMBER 31
Three Months Ended
Years Ended
2021
2020
2021
2020
(US $ millions, except per unit amounts)
Select Financial Information
Net income (loss) attributable to the
partnership
Funds From Operations (FFO)(2)
130 $
137 $
(1,516)
946 $
(2,738)
85
554 $
402
Operational Information
Proportionate Generation (GWh)
4,279
3,971
17,606
15,578
BEPC reported FFO of $554 million for the twelve months ended December 31, 2021, compared to $402 million in
the prior year. After deducting non-cash depreciation, deferred income tax expense (recovery), foreign exchange and
derivative gains, other and remeasurement of the Shares, our Net income attributable to the partnership for the twelve
months ended December 31, 2021 was $946 million.View entire presentation