Brookfield Renewable Partners L.P. Limited Partnership Units

Good day, and thank you for standing by. Welcome to the Brookfield Renewable Second Quarter 2026 Results Conference Call and Webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I'll now like to hand the conference over to your speaker today, Connor Teskey, Chief Executive Officer. Please go ahead.

Thank you, operator. Good morning, everyone, and thank you for joining us for our second quarter 2026 conference call. Before we begin, we would like to remind you that a copy of our news release and investor supplement can be found on our website. We also want to remind you that we may make forward-looking statements on this call. These statements are subject to known and unknown risks and our future results may differ materially. For more information, you are encouraged to review our regulatory filings available on CDAR+, EDGAR, and on our website. On today's call, we will review our results for the second quarter and discuss how we continue to enhance our leadership position to capitalize on the significant growth opportunities in the current environment and continue creating long-term value for our investors. We will then turn the call over to Jay Vivena, our Chief Investment Officer, who will discuss how we are further enhancing our capabilities in battery storage and strengthening our position as the energy partner of choice to both corporates and sovereigns. Patrick will conclude the call with a review of our operating and financial results, our balance sheet and funding activities, and an update on our recently announced plan to simplify our structure into a single listed corporate entity. Following our comments, we look forward to taking your questions. Turning to our results, in the first half of the year, we delivered record financial results, robust capital deployment, and the highest levels of development and asset recycling in our history. We also further strengthened our balance sheet, ending the quarter with strong liquidity and positioning the business to capitalize on the growing opportunity set in the current market. In the second quarter, we delivered FFO of $421 million, up 13% year-over-year, or $0.62 per unit, up 11% on a per-unit basis. In the last 12 months, we delivered FFO of $1,444,000,000, or $0.214 per unit, up 14% and 11% respectively compared to the prior year period. We continue to scale our development activities, commissioning 1.3 gigawatts of new capacity in the quarter and advancing our contracting initiatives, signing power purchase agreements for 2.6 gigawatts from our advanced development pipeline. We deployed or committed $5 billion into growth or $760 million net to BEP, highlighted by our recently announced acquisition of IPA. In addition, We continue to scale our capital recycling program, agreeing to or closing sales that will generate approximately $2.2 billion of proceeds or $630 million net to BEP at strong results at or above our target returns. Our strong execution came at the same time as the fundamentals supporting our business continue to strengthen. Global electricity demand is accelerating, and there is simply not enough new capacity coming online to keep up. This supply demand imbalance is compounded by grid infrastructure that has not kept pace with the growing need for electricity and is not being developed quickly enough to accommodate new demand. As a result, customers are increasingly balancing their needs for speed to power, scale, cost and security of supply while seeking partners that can deliver integrated energy solutions across multiple geographies on time and on budget. This is reinforcing the value of our global business, our broad capabilities across various mature technologies, and our scale capital. Our business today is uniquely positioned to meet our customers' evolving power needs through our global platform. We are one of the largest developers of low-cost, fast-to-market solar and wind projects. This is complemented by one of the world's largest hydro portfolios, which provides clean, dispatchable baseload power and is further enhanced by an expanding battery storage business that is increasingly critical to improving grid reliability and enabling greater renewable power penetrations. Beyond these capabilities, we have what we believe is one of the most differentiated businesses in the global power sector. Through Westinghouse, we own the world's leading nuclear technology provider. Nuclear power provides a unique combination of reliability, scale, energy security, and carbon-free baseload generation, making it an increasingly important and essential component of the global energy mix. Existing reactors represent highly strategic long-life infrastructure that is difficult to replicate, and the value of these assets continue to grow in the current energy market. This is being recognized globally as the sector pursues reactor life extensions, restarts, and new build programs. Westinghouse is exceptionally well positioned to benefit from this growth through its market-leading fuel, services, and maintenance businesses, which service approximately half the current global fleet. In going forward, we believe the most significant opportunity lies in helping deliver a new fleet of large reactors at scale supporting the revitalization of the global nuclear industry. During the quarter, we achieved another milestone towards that objective. The U.S. Department of Energy issued a commitment for up to $17.5 billion in loan facilities to support the procurement of long lead equipment for the deployment of up to 10 Westinghouse AP1000 reactors in the United States. This builds on our previously announced partnership with the U.S. government to support the deployment of approximately $80 billion to build new Westinghouse reactors across the country. The financing program is expected to accelerate deployment timelines by up to three years by enabling procurement of long lead time items in advance of final investment decisions. It also helps to catalyze investment in the nuclear supply chain, improving future project execution, reducing costs, and shortening deployment timelines for projects. Our focus has now shifted from establishing the financing framework for long lead orders to advancing individual projects. As the next step in deploying AP1000 reactors, we are actively engaged with seven utility partners that have identified project sites and are working with them towards executing long lead equipment orders. At the same time, we continue to work with utilities, power customers, and other stakeholders to establish commercial frameworks that will support the next wave of nuclear development in the United States. While much of our immediate focus is on advancing these projects in the U.S., we continue to see the opportunity for Westinghouse to expand in other regions as well. The recent announcement of a nuclear cooperation agreement between the United States and the Kingdom of Saudi Arabia It reinforces the significant global opportunity we see for new nuclear development. Westinghouse is uniquely positioned to benefit given its market leading technology and will compete for reactor deployments not only in Saudi Arabia but across a growing number of markets around the world. Taken together, our access to capital combined with our differentiated operating platform and expertise across the critical technologies needed to meet accelerating energy demand positions us to participate in one of the largest periods of capital investment in energy infrastructure in history. Our ability to deliver integrated power solutions to the world's largest buyers of electricity will enable us to capture this growing demand and continue creating significant long-term value for our unit holders. With that, we will turn the call over to Jay to discuss how we are further enhancing our capabilities in energy storage, strengthening our position as the energy partner of choice.

Thank you, Connor, and good morning, everyone. As Connor discussed, the largest buyers of power and sovereigns are increasingly looking for partners that can deliver reliable integrated power solutions at scale. As a result, one of our key priorities is to continue expanding our capabilities across the technologies and markets where we see the strongest long-term demand and feel we can leverage our competencies to generate value for our investors. One of the most compelling opportunities we see today is in battery storage. Storage is becoming an increasingly critical component of the energy mix. Expanding the hours during which renewable generation can meet demand while providing flexibility and improving overall grid reliability. This is particularly important as hyperscalers and governments increasingly require reliable, dispatchable power alongside low cost, faster market renewable generation to support rapidly growing electricity demand. Our recently announced acquisition of IPA is a direct reflection of this opportunity. The acquisition of the largest standalone battery storage platform in North America for $3 billion, approximately $420 million net to bet. IPER's leading position across many of the fastest growing power markets in the United States complements a large existing business and further expands our battery storage capabilities. The platform includes approximately 3 gigawatts of highly contracted operating and under construction assets, and additional three and a half gigawatts of contracted projects and a further pipeline of more than 20 gigawatts of assets, providing meaningful runway for development to meet the growing demands of our customers and create value. With the acquisition, we are doubling our operating and under construction battery capacity to approximately six gigawatts and expanding our development pipeline by over 30% to more than 80 gigawatts. Piper, alongside our acquisition of Nuion at the end of 2024, establishes Brookfield Renewable as the leading global battery storage platform with the scale, operating and development capabilities, and customer relationships to capitalize on the growing demand for storage. The acquisition is immediately accretive, reflecting our disciplined investment approach that continues to guide our capital allocation decisions, and we see meaningful opportunities We believe this differentiated offering continues to position Brookfield Renewable as the partner of choice for many of the world's largest corporate and sovereign buyers of power. With that, I'll turn the call over to Patrick to discuss our operating results, financial position, and capital recycling activities in more detail.