The newly formed company has been selected to serve as project manager for V.C. Summer nuclear project

COLUMBIA, S.C., and NEW YORK, May 4, 2026 /PRNewswire/ -- Brookfield, a leading global investment firm, and The Nuclear Company ("TNC"), a nuclear project development and delivery company, today announced a partnership to form a new company specializing in the development of Westinghouse nuclear reactor technology. The partnership's ambition is to establish a world-leading nuclear project execution company.

Brookfield's global asset management and energy infrastructure development capabilities combined with TNC's nuclear project delivery expertise will serve as the foundation for the dedicated project development company. The business will offer execution capabilities for the deployment of nuclear projects based exclusively on Westinghouse reactor technology, including AP1000 and AP300, in addition to end-to-end project management, licensing support, and oversight of engineering, procurement, construction and commissioning activity. The parties expect to progress toward definitive documentation in the coming months, subject to customary approvals and conditions.

As part of efforts to potentially develop two partially constructed AP1000 units near Jenkinsville, S.C., Brookfield has selected the new company as the project manager for the Fairfield County, S.C., nuclear project, formally known as V.C. Summer Nuclear Units 2 and 3 ("the Project"). The project is one of the most execution-ready nuclear development opportunities in America. Santee Cooper, South Carolina's state-owned utility company, supports the company's role on the project.

The new company will support due diligence activity for the Project and oversee the delivery should it move forward to Final Investment Decision. Development of the project remains subject to further evaluation, regulatory approvals, and the execution of definitive agreements.

"This joint venture reflects Brookfield's disciplined approach to large-scale infrastructure investment and focus on partnering with experienced operators," said Wyatt Hartley, Managing Partner, Brookfield. "By combining our global infrastructure development capabilities with nuclear project delivery expertise, we believe this platform has the potential to accelerate the American nuclear resurgence, building on the momentum of the Westinghouse partnership with the U.S. Government."

"Our team was built on the field of Vogtle and on some of the most complex energy projects in the world," Joe Klecha, Chief Nuclear Officer of The Nuclear Company said. "We know what it takes to deliver nuclear. What's been missing is a model that brings together the people, the capabilities, and the capital to do it at speed and scale. That's what this partnership creates."

About Brookfield

Brookfield is a leading global investment firm with more than $1 trillion in assets under management that owns and operates real assets and essential service businesses that form the backbone of the global economy. We invest on behalf of both institutions and individuals around the world across infrastructure, renewable power and transition, private equity, real estate, and credit--sectors critical to supporting economic growth and productivity.

With a heritage spanning more than a century and operations in over 30 countries, we deploy long-term, patient capital to build the foundational assets and businesses that power a more connected, resilient, and sustainable future--seeking to build long-term wealth for our clients while delivering strong risk-adjusted returns for our shareholders. Brookfield Corporation (ticker: BN), and Brookfield Asset Management (ticker: BAM), a leading global alternative asset manager, headquartered in New York, are both listed on the NYSE and TSX.

For more information, please visit our website at www.brookfield.com.

About The Nuclear Company

The Nuclear Company pioneers the modernization of nuclear construction through its design-once, build-many approach, backed by its proprietary Nuclear Operating System (NOS), an AI-driven platform that transforms reactor construction for all technologies into a data-driven, predictable process. Founded by nuclear power and energy infrastructure veterans, including the team that brought Vogtle Units 3 and 4 online, TNC deploys nuclear power and services existing facilities to ensure long-term, American energy security.

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