Brookfield outlines 47.1% stake and BEP restructuring

Brookfield Corporation, BAM Partners Trust and related entities report beneficial ownership equivalent to 320,608,493 Brookfield Renewable Partners L.P.

Rhea-AI Filing Summary

Brookfield Corporation, BAM Partners Trust and related entities report beneficial ownership equivalent to 320,608,493 Brookfield Renewable Partners L.P. (BEP) units, representing 47.1% of the class on an as-converted basis through L.P. Units, BRELP exchangeable units, BEPC shares and Class A.2 shares.

They describe an arrangement agreement among BEP, Brookfield Renewable Corporation (BEPC) and Brookfield Renewable Partners Inc. (BEP Inc.) to simplify the structure by converting BEP and BEPC into a single Canadian publicly traded corporation. All L.P. Units, BEPC Shares, Class A.2 Shares and BRELP redemption‑exchange units are to be exchanged one-for-one for BEP Inc. Class A subordinate voting shares, with associated general partner interests exchanged for BEP Inc. Class B and Class I shares.

After completion, based on current ownership, Brookfield and its subsidiaries are expected to hold 305,366,071 BEP Inc. Class A shares, about 44.9% of that class (or 57.7% if the BEPC share exchange does not occur), plus 30,014 Class B multiple voting shares, all of that class. A special meeting of BEP unitholders and BEPC shareholders is set for October 14, 2026, with record date August 21, 2026, and completion is anticipated in the fourth quarter of 2026.

Key Figures

Beneficial ownership equivalent: 320,608,493 L.P. Units Ownership percentage (as-converted): 47.1% L.P. Units outstanding: 300,111,626 +5 more

8 metrics

Beneficial ownership equivalent 320,608,493 L.P. Units Brookfield Corporation and BAM Partners Trust beneficial ownership, representing 47.1% of class

Ownership percentage (as-converted) 47.1% Percent of BEP class represented by 320,608,493 units equivalent

L.P. Units outstanding 300,111,626 BEP L.P. Units outstanding as of July 21, 2026

BRELP exchangeable units 194,487,939 Outstanding redeemable/exchangeable partnership units of BRELP assumed exchangeable one-for-one

BEPC Shares 150,879,577 Outstanding BEPC class A exchangeable subordinate voting shares assumed exchangeable one-for-one

Class A.2 Shares 34,719,683 Outstanding Class A.2 exchangeable non-voting shares assumed exchangeable one-for-one

Expected BEP Inc. Class A for Brookfield 305,366,071 BEP Inc. Class A shares expected for Brookfield and subsidiaries after transaction, 44.9% of class

Expected BEP Inc. Class B for Brookfield 30,014 BEP Inc. Class B multiple voting shares, 100% of that class

Key Terms

beneficial ownership, plan of arrangement, redeemable/exchangeable partnership units, multiple voting shares, +1 more

5 terms

beneficial ownership financial

"The information relating to the beneficial ownership of the L.P. Units"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

plan of arrangement regulatory

"The Transaction will be implemented pursuant to a court-approved plan of arrangement"

A plan of arrangement is a formal, court-approved agreement that reorganizes ownership or assets of a company—such as merging businesses, exchanging shares for cash or other securities, or splitting off parts of the company. Investors should care because it can change the value, number, and rights of their holdings and is often binding once approved by both shareholders and a court, offering more legal certainty than a simple vote. Think of it as a legally supervised recipe for how a company will be reshaped and who ends up with what.

redeemable/exchangeable partnership units financial

"redeemable/exchangeable partnership units of Brookfield Renewable Energy L.P. ("BRELP")"

multiple voting shares financial

"will be exchanged for class B multiple voting shares of BEP Inc."

Shares that carry more votes per share than regular shares, giving their holders greater control over corporate decisions such as board elections and major strategic moves. For investors this matters because a small group holding multiple voting shares can steer the company’s direction irrespective of economic ownership, similar to a few people holding the keys to a car even if many others own parts of it, which affects governance risk and influence on value.

non-voting incentive shares financial

"will be exchanged for class I non-voting incentive shares of BEP Inc."

FAQ

How much of Brookfield Renewable Partners (BEP) does Brookfield Corporation now report owning?

Brookfield Corporation and BAM Partners Trust report beneficial ownership equivalent to 320,608,493 BEP units, representing 47.1% of the class on an as-converted basis through units and related exchangeable securities.

What corporate simplification is planned for Brookfield Renewable Partners (BEP) and BEPC?

BEP, BEPC and BEP Inc. agreed to a court-approved plan of arrangement to convert BEP and BEPC into a single Canadian public company, BEP Inc., with existing units and shares exchanged one-for-one into BEP Inc. Class A shares.

What will Brookfield’s stake be in BEP Inc. after the transaction?

After completion, Brookfield and subsidiaries are expected to own 305,366,071 BEP Inc. Class A shares, about 44.9% of that class, plus 30,014 Class B shares, representing 100% of BEP Inc. Class B multiple voting shares.

When will Brookfield Renewable Partners (BEP) investors vote on the BEP Inc. transaction?

A special meeting of BEP unitholders and BEPC shareholders is scheduled for October 14, 2026. Security holders of record at the close of business on August 21, 2026 are entitled to vote on the proposed arrangement.

How many Brookfield Renewable Partners (BEP) L.P. Units are currently outstanding?

As of July 21, 2026, there were approximately 300,111,626 L.P. Units of Brookfield Renewable Partners L.P. outstanding. This figure is used as context for calculating various beneficial ownership percentages in the disclosure.

What ownership is expected for Brookfield Asset Management and BNT after the BEP Inc. reorganization?

Brookfield Asset Management Ltd. and subsidiaries are expected to own 3,977,260 BEP Inc. Class I shares, all of that class. BNT and its subsidiaries are expected to hold 15,242,422 BEP Inc. Class A shares, about 2.2% of that class if the share exchange occurs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 07/23/2026 - 07:21 PM Accepted by SEC EDGAR 07/23/2026 - 07:20 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

BROOKFIELD RENEWABLE PARTNERS L.P.

(Name of Issuer)

Limited Partnership Units

(Title of Class of Securities)

G16258108

(CUSIP Number)

Swati Mandava
Brookfield Corporation, Brookfield Place, 181 Bay Street, Suite 100
Toronto, A6, M5J 2T3
(416) 363-9491

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/21/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): G16258108

1

Name of reporting person

BROOKFIELD CORPORATION

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 320,608,493.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 320,608,493.00

11

Aggregate amount beneficially owned by each reporting person

320,608,493.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

47.1 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

In reference to Rows 8, 10 and 11 above, this amount includes 60,703,416 limited partnership units ("L.P. Units") of Brookfield Renewable Partners L.P. (the "Issuer" or "BEP") and 189,508,685 redeemable/exchangeable partnership units of Brookfield Renewable Energy L.P. ("BRELP") held by Brookfield Renewable Power Inc. ("BRPI"), a wholly-owned subsidiary of Brookfield Corporation ("Brookfield"), 4,979,254 redeemable/exchangeable partnership units of BRELP held by Brookfield Energy Marketing L.P. ("BEMLP"), a wholly-owned subsidiary of Brookfield, 441,363 L.P. Units held by Brookfield, 8,046,000 L.P. Units held by Brookfield Corporate Holdings III L.P. ("BCHIIILP"), a wholly-owned subsidiary of Brookfield, 6,967,670 L.P. Units held by BEP Holdings L.P., a wholly-owned subsidiary of Brookfield, and 5,148,270 L.P. Units owned by subsidiaries of Brookfield Wealth Solutions Ltd., a paired entity to Brookfield ("BNT"), that are subject to the terms of the Voting Agreement as previously described in Amendment No. 7 to Schedule 13D. This amount also includes class A.2 exchangeable non-voting shares of Brookfield Renewable Holdings Corporation ("Class A.2 Shares") held as follows: 2,758,183 Class A.2 Shares held by BRPI, 100,000 Class A.2 Shares held by Brookfield Investments Corporation ("BIC"), 28,761,500 Class A.2 Shares held by BIC Holdings LP, a subsidiary of BIC, 100,000 Class A.2 Shares held by Brookfield Corporate Holdings Ltd. and 3,000,000 Class A.2 Shares held by BRPI Holding Inc. ("BRPIH"), each of which is a subsidiary of Brookfield. This amount also includes 10,094,152 class A exchangeable subordinate voting shares ("BEPC Shares") of Brookfield Renewable Corporation ("BEPC") held by subsidiaries of BNT that are subject to the terms of the Voting Agreement as previously described in Amendment No. 7 to Schedule 13D. In reference to Row 13 above, as of July 21, 2026, there were approximately 300,111,626 L.P. Units outstanding. Percentage assumes that all of the outstanding 194,487,939 redeemable/exchangeable partnership units of BRELP, all of the outstanding 150,879,577 BEPC Shares, and all of the outstanding 34,719,683 Class A.2 Shares are exchanged for L.P. Units (on a one-for-one basis). Assuming that only the redeemable/exchangeable partnership units of BRELP, BEPC Shares and Class A.2 Shares beneficially owned by Brookfield and BNT, as applicable, are exchanged for L.P. Units (on a one-for-one basis), the percentage would be 59.4%.

SCHEDULE 13D

CUSIP Number(s): G16258108

1

Name of reporting person

BAM PARTNERS TRUST

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 320,608,493.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 320,608,493.00

11

Aggregate amount beneficially owned by each reporting person

320,608,493.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

47.1 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

In reference to Rows 8, 10 and 11 above, this amount includes L.P. Units, redeemable/exchangeable partnership units of BRELP, BEPC Shares and Class A.2 Shares beneficially owned by Brookfield and BNT. In reference to Row 13 above, as of July 21, 2026, there were approximately 300,111,626 L.P. Units outstanding. Percentage assumes that all of the outstanding 194,487,939 redeemable/exchangeable partnership units of BRELP, all of the outstanding 150,879,577 BEPC Shares, and all of the outstanding 34,719,683 Class A.2 Shares are exchanged for L.P. Units (on a one-for-one basis). Assuming that only the redeemable/exchangeable partnership units of BRELP, BEPC Shares and Class A.2 Shares beneficially owned by Brookfield and BNT, as applicable, are exchanged for L.P. Units (on a one-for-one basis), the percentage would be 59.4%.

SCHEDULE 13D

CUSIP Number(s): G16258108

1

Name of reporting person

BROOKFIELD RENEWABLE POWER INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 260,949,538.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 260,949,538.00

11

Aggregate amount beneficially owned by each reporting person

260,949,538.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

38.4 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

In reference to Rows 8, 10 and 11 above, this amount includes 60,703,416 L.P. Units and 189,508,685 redeemable/exchangeable partnership units of BRELP held by BRPI. This amount also includes 2,758,183 Class A.2 Shares held by BRPI, 4,979,254 redeemable/exchangeable partnership units of BRELP held by BEMLP and 3,000,000 Class A.2 Shares held by BRPIH. In reference to Row 13 above, as of July 21, 2026, there were approximately 300,111,626 L.P. Units outstanding. Percentage assumes that all of the outstanding 194,487,939 redeemable/exchangeable partnership units of BRELP, all of the outstanding 150,879,577 BEPC Shares, and all of the outstanding 34,719,683 Class A.2 Shares are exchanged for L.P. Units (on a one-for-one basis). Assuming that only the redeemable/exchangeable partnership units of BRELP and the Class A.2 Shares beneficially owned by BRPI, BRPIH and BEMLP are exchanged for L.P. Units (on a one-for-one basis), the percentage would be 52.2%.

SCHEDULE 13D

CUSIP Number(s): G16258108

1

Name of reporting person

BROOKFIELD INVESTMENTS CORPORATION

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 28,861,500.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 28,861,500.00

11

Aggregate amount beneficially owned by each reporting person

28,861,500.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.2 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

In reference to Rows 8, 10 and 11 above, this amount includes 28,761,500 Class A.2 Shares held by BIC Holdings LP and 100,000 Class A.2 Shares held by BIC. In reference to Row 13 above, as of July 21, 2026, there were approximately 300,111,626 L.P. Units outstanding. Percentage assumes that all of the outstanding 194,487,939 redeemable/exchangeable partnership units of BRELP, all of the outstanding 150,879,577 BEPC Shares, and all of the outstanding 34,719,683 Class A.2 Shares are exchanged for L.P. Units (on a one-for-one basis). Assuming that only the Class A.2 Shares beneficially owned by BIC are exchanged for L.P. Units (on a one-for-one basis), the percentage would be 8.8%.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Limited Partnership Units
(b)	Name of Issuer: BROOKFIELD RENEWABLE PARTNERS L.P.
(c)	Address of Issuer's Principal Executive Offices: 73 Front Street, Fifth Floor, Hamilton, BERMUDA , HM 12.
Item 1 Comment: Explanatory Note This Amendment No. 9 (this "Amendment No. 9") to Schedule 13D amends and supplements the Schedule 13D originally filed on June 17, 2016 (and as amended through Amendment No. 8 thereto, the "Schedule 13D") to reflect the transactions as described in Item 4 of this Amendment No. 9. Unless otherwise indicated, all references to "$" in this Schedule 13D are to U.S. dollars. Information reported in the Schedule 13D remains in effect except to the extent that it is amended or superseded by information contained in this Amendment No. 9.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby supplemented as follows: On July 21, 2026, BEP, BEPC and Brookfield Renewable Partners Inc. ("BEP Inc.") entered into an arrangement agreement pursuant to which, among other things, the parties agreed to implement an arrangement (the "Transaction") to simplify BEP's and BEPC's corporate structure by converting BEP and BEPC into a single Canadian publicly traded corporate entity, BEP Inc. The Transaction will be implemented pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia), and completion of the Transaction is subject to a number of conditions, including obtaining the approval of the holders of L.P. Units (the "Unitholders") and approval by the British Columbia Supreme Court. If the Transaction is approved by the Unitholders but not by the holders of BEPC Shares (the "Shareholders"), the Transaction will still be completed except that the exchange of BEPC Shares (the "Share Exchange"), as described below, will not occur. A special meeting of Unitholders and a special meeting of Shareholders have been called for October 14, 2026, and security holders of record as of close of business on August 21, 2026 will be entitled to vote at the meetings. If the Transaction is approved by both the Unitholders and Shareholders, and subject to satisfaction of other conditions, BEP and BEPC will implement the Transaction, pursuant to which, among other things, all L.P. Units, BEPC Shares, Class A.2 Shares and redemption-exchange limited partnership units of BRELP will be exchanged for newly issued class A subordinate voting shares of BEP Inc. ("BEP Inc. Class A Shares") on a one-for-one basis. In addition, the class A common shares of Brookfield Renewable Partners Limited, the general partner of BEP, will be exchanged for class B multiple voting shares of BEP Inc. ("BEP Inc. Class B Shares"). The limited partnership units of BREP Holding L.P., the general partner of BRELP, and the class A common shares of BRP Bermuda GP Limited, the general partner of BREP Holding L.P., will be exchanged for class I non-voting incentive shares of BEP Inc. ("BEP Inc. Class I Shares"). The newly issued BEP Inc. Class A Shares are expected to be listed on the Toronto Stock Exchange and the New York Stock Exchange. Following completion of the Transaction, and based on their current ownership and the aggregate number of issued and outstanding BEPC Shares, Class A.2 Shares and L.P. Units, (i) Brookfield and its subsidiaries are expected to own 305,366,071 BEP Inc. Class A Shares, representing approximately 44.9% of the issued and outstanding BEP Inc. Class A Shares (and 305,366,071 BEP Inc. Class A Shares, representing approximately 57.7% of the issued and outstanding BEP Inc. Class A Shares if the Share Exchange does not occur) and 30,014 BEP Inc. Class B Shares, representing 100% of the issued and outstanding BEP Inc. Class B Shares (which BEP Inc. Class B Shares will be entitled to cast, in the aggregate, a number of votes equal to the number of outstanding BEP Inc. Class A Shares held on the record date for determining the BEP Inc. shareholders entitled to vote at the applicable meeting minus 100), (ii) BNT and its subsidiaries are expected to own 15,242,422 BEP Inc. Class A Shares, representing approximately 2.2% of the issued and outstanding BEP Inc. Class A Shares (and 5,148,270 BEP Inc. Class A Shares, representing approximately 1.0% of the issued and outstanding BEP Inc. Class A Shares if the Share Exchange does not occur), (iii) Brookfield Asset Management Ltd. and its subsidiaries are expected to own 3,977,260 BEP Inc. Class I Shares, representing 100% of the issued and outstanding BEP Inc. Class I Shares and (iv) BEP Inc. will own all of the issued and outstanding L.P. Units, redemption-exchange limited partnership units of BRELP, Class A.2 Shares and, assuming the Share Exchange occurs, BEPC Shares. If the Transaction is completed but the Share Exchange does not occur, BNT and its subsidiaries will own or exercise control or direction over 10,094,152 BEPC Shares, representing approximately 6.7% of the issued and outstanding BEPC Shares. Further information regarding the Transaction will be contained in a joint management information circular of BEP and BEPC. Subject to the receipt of all required approvals, it is anticipated that the Transaction will be completed in the fourth quarter of 2026.
Item 5.	Interest in Securities of the Issuer
(a)	Items 5(a)-(c) of the Schedule 13D are hereby amended and restated as follows: (a)-(b) The information relating to the beneficial ownership of the L.P. Units by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto (and the footnotes thereto) is incorporated by reference herein. Except as otherwise noted in the footnotes to the cover pages hereto, the percentage ownership of L.P. Units is based on an aggregate of 320,608,493 L.P. Units outstanding as of July 21, 2026, and assumes that all of the outstanding redeemable/exchangeable partnership units of BRELP, BEPC Shares and Class A.2 Shares are exchanged for L.P. Units (on a one-for-one basis).
(c)	Except as described in Item 4 in this Amendment No. 9, there have been no transactions by the Reporting Persons in the L.P. Units during the past 60 days.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 4 of this Amendment No. 9 is hereby incorporated by reference.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BROOKFIELD CORPORATION

Signature:	/s/ Swati Mandava
Name/Title:	Swati Mandava, Managing Director, Legal and Regulatory
Date:	07/23/2026

BAM PARTNERS TRUST

Signature:	by its trustee, BAM CLASS B PARTNERS INC., /s/ Kathy Sarpash
Name/Title:	Kathy Sarpash, Secretary
Date:	07/23/2026

BROOKFIELD RENEWABLE POWER INC.

Signature:	/s/ Jennifer Mazin
Name/Title:	Jennifer Mazin, Co-President, General Counsel and Corporate Secretary
Date:	07/23/2026

BROOKFIELD INVESTMENTS CORPORATION

Signature:	/s/ Kathy Sarpash
Name/Title:	Kathy Sarpash, Senior Vice President, General Counsel and Secretary
Date:	07/23/2026