Brookfield Renewable Partners Lp · TSX:BEP.UN
Brookfield Renewable Partners Lp — Merger or Acquisition (March 2020)
15 slides from Brookfield Renewable Partners Lp's merger presentation, Mar 17, 2020
Slide 1: Brookfield Renewable Partners & TerraForm Power Definitive Merger Agreement
Brookfield Renewable Partners & TerraForm Power DEFINITIVE MERGER AGREEMENT Investor presentation March 2020 Exhibit 99.1
Slide 2: Transaction Summary
Transaction Summary On March 16, 2020 Brookfield Renewable Partners L.P. (“Brookfield Renewable” or “BEP”) and TerraForm Power Inc. (“TerraForm Power” or “TERP”) entered into a definitive agreement for BEP to acquire all of the outstanding shares of Class A common stock of TERP, other than the 62% c
Slide 3: Transaction Benefits
Transaction Benefits Combined business will be one of the largest, integrated, pure-play renewable power companies in the world with one of the strongest investment grade balance sheets in the sector, no material near term maturities, and a 20-year track record of creating shareholder value through
Slide 4: Transaction Benefits (cont'd)
Transaction Benefits (cont’d) Accretive to FFO Further expands BEP’s portfolio in North America and Western Europe Strengthens BEP’s contract profile Increases public float and enhances the liquidity of BEPC shares Strong premium of 17% to TERP’s unaffected trading price1 Ability to participate in t
Slide 5: Why BEP?
Why BEP? Brookfield ©) lerraforn m=
Slide 6: Ability to Participate in a Global Leader in Renewable Generation
Ability to Participate in a Global Leader in Renewable Generation… 5,274 power generating facilities $50 billion TOTAL POWER ASSETS 27 markets in 17 countries 19,000 MEGAWATTS OF CAPACITY Situated on 84 river systems 74% HYDROELECTRIC GENERATION One of the largest public pure-play renewable business
Slide 7: With a Track Record of Strong Performance through Economic Cycles
… With a Track Record of Strong Performance through Economic Cycles Source: Bloomberg Total return assuming reinvestment of dividends between November 1999 and March 2020. 17% BEP ANNUALIZED TOTAL RETURN BBB (high) BBB (high) / BBB+ $0.71 per unit distribution $1.25 per unit distribution $2.17 PER U
Slide 8: Access to a Consistent, Proven and Repeatable Growth Strategy
Access to a Consistent, Proven and Repeatable Growth Strategy Value-oriented investors who seek opportunities where we can differentiate ourselves using something other than cost of capital ENDURING COMPETITIVE ADVANTAGES CONSISTENT RETURN TARGETS size Global Reach Operational Capabilities Remain di
Slide 9: More Diversified Operating Portfolio Driving Stable Cash Flows
More Diversified Operating Portfolio Driving Stable Cash Flows 66% Hydro Focused Growing Global Footprint Contracted Cash Flows1 7% Excludes financial contracts and contracts in Brazil and Colombia. All figures presented pro forma for the transaction and based on long-term average generation, propor
Slide 10: Benefit from a Strong Investment Grade Balance Sheet
Benefit from a Strong Investment Grade Balance Sheet… BBB+ INVESTMENT GRADE BALANCE SHEET 10 YEARS AVERAGE PROJECT DEBT TERM TO MATURITY Highest rating in the sector with non-amortizing corporate debt fully supported by perpetual hydro portfolio Well laddered debt profile with no material maturities
Slide 11: Enhanced Liquidity and Access to Deep Pools of Capital
…Enhanced Liquidity and Access to Deep Pools of Capital Significant Liquidity Partner Capital Diversified Access to Capital Markets Track Record of Capital Recycling ~$3.1 billion of available liquidity1 Will benefit from ~$5 billion of private capital available from Brookfield’s unlisted fund We ha
Slide 12: Brookfield Renewable Corporation ("BEPC")
Brookfield Renewable Corporation (“BEPC”)
Slide 13: Form of Consideration – BEPC shares or BEP units
Form of Consideration – BEPC shares or BEP units 1) Subject to BEPC’s election to provide one BEP unit or the cash equivalent of one BEP unit BEPC offers TERP shareholders the optionality to own Brookfield Renewable through a corporate structure TERP shareholders can elect to receive consideration i
Slide 14: We see many benefits in establishing BEPC
We see many benefits in establishing BEPC Broader index and ETF inclusion Tax advantages for some Expanded investor base BEPC LISTED CORPORATION
Slide 15: Notice to Recipients
Notice to Recipients All amounts are in U.S. dollars unless otherwise specified. CAUTIONARY STATEMENT REGARDING FORWARD- LOOKING STATEMENTS AND INFORMATION This presentation contains forward-looking statements and information within the meaning of Canadian provincial securities laws and “forward-loo
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