Brookfield Renewable Partners LP美股招股说明书(2026-01-13版)

Brookfield Renewable Corporation Brookfield Renewable Partners L.P. Up to $400,000,000 ClassA Exchangeable Subordinate Voting Shares of Brookfield Renewable CorporationLimited Partnership Units of Brookfield Renewable Partners L.P. (issuable or deliverable upon exchange, redemptionor acquisition of ClassA Exchangeable Subordinate Voting Shares) This prospectus supplement (this “Prospectus Supplement”) of Brookfield Renewable Corporation (the “Company”) and BrookfieldRenewable Partners L.P. (the “Partnership”), together with the base shelf prospectus dated April2, 2025 (the “Base Prospectus” and together with thisProspectus Supplement, the “Prospectus”), relates to an “at-the-market” offering (the “Offering”) of class A exchangeable subordinate voting shares ofthe Company (the “Exchangeable Shares”) from time to time having an aggregate sale price of up to $400,000,000 (or the equivalent in Canadiandollars determined using the daily exchange rate posted by the Bank of Canada on the date the Exchangeable Shares are sold). See “Plan ofDistribution”. Each Exchangeable Share will be exchangeable at the option of the holder for one non-voting limited partnership unit (each, a “LPUnit”and collectively, the “LP Units”) of the Partnership (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment tobe determined at the election of the Company). See “Description of Share Capital”. The Company and the Partnership have entered into an equity distribution agreement dated January12, 2026 (the “DistributionAgreement”) with BMO Capital Markets Corp.and TD Securities (USA) LLC (together, the “U.S. Agents”) and BMO Nesbitt Burns Inc.and TDSecurities Inc. (together, the “Canadian Agents” and together with the U.S. Agents, the “Agents”) pursuant to which the Company may offer and sell inthe Offering from time to time through the Agents, as sales agents, Exchangeable Shares in each of the provinces and territories of Canada and in theUnited States pursuant to agency transaction notices delivered by the Company to the Agents from time to time in accordance with the terms of theDistribution Agreement. Sales of Exchangeable Shares, if any, under this Prospectus Supplement will be made in transactions that are deemed to be an “at themarket offering” as defined in Rule 415 promulgated under the U.S. Securities Act of 1933, including, without limitation, sales made on or through theNew York Stock Exchange (the “NYSE”) or the Toronto Stock Exchange (the “TSX”) or on any other marketplace in the United States or Canada wherethe Exchangeable Shares may be traded.There is no minimum amount of funds that must be raised under the Offering. This means that theOffering may terminate after raising only a portion of the Offering amount set out above, or none at all.See “Plan of Distribution”. The Offering is being made concurrently in Canada under the terms of a prospectus supplement to a short form base shelf prospectus (the“Canadian Base Prospectus”) filed with the securities commissions or similar authorities in each of the provinces of Canada. Neither this ProspectusSupplement nor the accompanying Base Prospectus constitutes a prospectus under Canadian securities laws and therefore does not qualify theExchangeable Shares in Canada. The Company will pay the Agents compensation for their services in acting as agents in connection with the sale of Exchangeable Sharespursuant to the Distribution Agreement of up to 2% of the gross offering proceeds of the Exchangeable Shares sold under the Distribution Agreement(the “Commission”). The Exchangeable Shares are listed for trading under the symbol “BEPC” on the NYSE and the TSX. The LP Units are listed for tradingunder the symbol “BEP” on the NYSE and “BEP.UN” on the TSX. On January8, 2026, before the public announcement of this Offering, the closingsale prices of the Exchangeable Shares on the NYSE and the TSX were $37.80 and C$52.43 respectively, and the closing sale prices of the LP Units onthe NYSE and the TSX were $26.86 and C$37.24, respectively. The NYSE has authorized the listing of the Exchangeable Shares that may be distributedunder the Offering and the LP Units that may be issuable or deliverable upon the exchange, redemption or acquisition of such Exchangeable Shares,subject to the official notice of issuance. The TSX has conditionally approved the listing of the Exchangeable Shares that may be distributed under theOffering and the LP Units that may be issuable or deliverable upon the exchange, redemption or acquisition of such Exchangeable Shares, subject to theCompany and the Partnership fulfilling all of the requirements of the TSX. Investing in the Exchangeable Shares and the LP Units involves risks. See “Risk Factors” on page S-3 of thisProspectus Supplement, on page 3 of the accompanying Base Prospectus, and the risk factors included in theCompany’s Annual Report, in the Partnership’s Annual Report and in the Company’s Q3 2025 I