Clearway Energy, Inc.

Clearway Energy, Inc. announced that Kevin P. Malcarney will retire from his position as Executive Vice President, General Counsel, and Corporate Secretary, effective June 1, 2026. He will remain employed as a non-executive through June 26, 2026, under a transition services agreement, receiving separation benefits including a pro-rated 2026 bonus, continued equity vesting, and a $711,845 cash payment. Michael A. Brown, who previously served at The New York Times Company and Clearway Energy, Inc., will succeed Mr. Malcarney in the role.

Clearway Energy, Inc. announced that Kevin P. Malcarney will retire from his position as Executive Vice President, General Counsel, and Corporate Secretary, effective June 1, 2026. Mr. Malcarney has been with the company for nearly two decades, serving as General Counsel since May 2018. Michael A. Brown will succeed him as Senior Vice President, General Counsel, and Corporate Secretary, also effective June 1, 2026. Mr. Brown previously held senior legal roles at Clearway Energy and NRG Yield before joining The New York Times Company.

Clearway Energy reported a significant widening of its net loss attributable to the company in Q1 2026 to $163 million, compared to a $3 million loss in Q1 2025, despite an 18.8% increase in total operating revenues to $354 million. Operating income improved to $20 million from break-even in the prior year. The company also completed the acquisition of the 610 MW Cardinal Portfolio for $324 million and increased its quarterly dividend.

Clearway Energy, Inc. reported a Q1 2026 Net Loss of $68 million and Adjusted EBITDA of $257 million, while reaffirming its full-year 2026 CAFD guidance of $470 million to $510 million. The company made significant progress on its fleet enhancement and sponsor-enabled growth programs, increasing its late-stage opportunity pipeline to 12.7 GW. Key developments include the substantial completion of the Honeycomb Phase I BESS facilities, the acquisition of the Cardinal Portfolio, and the approval of a public share simplification proposal.

Clearway Energy reported a Q1 2026 Net Loss of $68 million and Adjusted EBITDA of $257 million. Cash from Operating Activities significantly increased to $401 million, while Cash Available for Distribution (CAFD) was $70 million. The company reaffirmed its 2026 CAFD guidance and announced stockholder approval for a simplified public share structure, converting Class A to Class C common stock for increased liquidity and broader investor appeal. Strategic initiatives, including fleet enhancement, accelerated sponsor-enabled growth, and third-party M&A, are advancing, with a late-stage pipeline now at 12.7 GW.

Clearway Energy, Inc. stockholders approved an amendment to the Certificate of Incorporation at the Annual Meeting on April 29, 2026. This amendment simplifies the public share class structure by converting each Class A common stock share into one Class C common stock share, effective May 1, 2026. In connection with this, Clearway Energy Group LLC (CEG) entered into a Voting Trust Agreement, depositing 41,678,637 Class B common stock shares into a trust to maintain its relative voting power. The Voting Trustee will vote these shares proportionally to other stockholders.

Clearway Energy, Inc. stockholders approved an amendment to simplify the Company's public share class structure into a single Class C common stock. This change will result in the automatic conversion of each Class A common stock share into one Class C common stock share at 12:01 a.m. ET on May 1, 2026. The NYSE will suspend trading of Class A shares before market open on May 1, with Class C shares commencing trading the same day. A Voting Trust Agreement was also established by Clearway Energy Group LLC to maintain the relative voting power of public stockholders.

Clearway Energy, Inc. is reminding stockholders to vote 'FOR' the Charter Amendment Proposal to simplify its public share class structure into a single class. The company's Board of Directors recommends the proposal, which is expected to enhance stock appeal, increase stockholder value, and improve trading liquidity. Leading independent proxy advisory firm Institutional Shareholder Services (ISS) also recommends a 'FOR' vote, highlighting the elimination of voting rights disparity between public share classes. The deadline to vote by proxy is April 28, 2026, at 11:59 p.m. Eastern Time, ahead of the Annual Meeting on April 29, 2026.