Brookfield Renewable Corporation filed its annual Form 20-F for the year ended December 31, 2025. The report notes 144,885,110 Class A exchangeable subordinate voting shares and 43,661 Class B multiple voting shares outstanding as of that date.
The filing defines key terms across its complex partnership and corporate structure, explains extensive forward-looking statement disclosures, and describes use of non-IFRS measures such as Adjusted EBITDA and Funds From Operations. It also provides a detailed summary of risk factors covering operations, financing, growth strategy, the relationship with Brookfield, BEPC exchangeable shares and taxation.
Brookfield Renewable Corp received a Schedule 13G reporting that ClearBridge investment entities collectively hold a significant minority stake in its Class A exchangeable subordinate voting shares. As of December 31, 2025, ClearBridge reports beneficial ownership of 9,211,875 shares, representing 6.4% of the class.
The holdings are spread across three investment advisers: ClearBridge Investments, LLC; ClearBridge Investments Limited; and ClearBridge Investments (North America) Pty Ltd, each with sole voting and dispositive power over its respective portion. The shares are owned by underlying investment management clients, not by ClearBridge itself.
ClearBridge states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Brookfield Renewable. The filing also notes that ClearBridge and its parent-affiliated entities operate with separate voting and investment decision processes and that ClearBridge disclaims pecuniary interest and beneficial ownership beyond what is required for reporting.
Brookfield Renewable Corporation is launching an at-the-market equity program of up to $400,000,000 in Class A exchangeable subordinate voting shares. These Exchangeable Shares can be issued from time to time on the NYSE, TSX or other marketplaces at prevailing market prices, with no minimum amount required to be raised. Each Exchangeable Share is exchangeable at the holder’s option for one Brookfield Renewable Partners L.P. LP Unit or its cash equivalent, and is intended to provide an economic return equivalent to an LP Unit.
The company plans to use net proceeds primarily to support the Partnership’s normal course issuer bid for repurchases of LP Units and for general corporate purposes. As of January 8, 2026, there were 144,885,110 Exchangeable Shares and 305,987,962 LP Units outstanding, with Brookfield-related holders owning significant stakes in both. The NYSE has authorized, and the TSX has conditionally approved, the listing of the new Exchangeable Shares and any LP Units issuable upon exchange.
Brookfield Renewable Corporation has filed a Form 6-K providing investors with its latest interim reporting package. The filing furnishes interim consolidated financial statements and notes as at September 30, 2025 and December 31, 2024, covering the three- and nine-month periods ended September 30, 2025 and 2024.
The Form 6-K also includes management’s discussion and analysis for these same periods, along with CEO and CFO interim filing certifications. The financial information in Exhibits 99.1 and 99.2 is incorporated by reference into the company’s effective Form F-3 shelf registration statement.