Brookfield Renewable Partners (BEP)

CORPORATE PROFILE

NOVEMBER 2018

2

Cautionary Statement Regarding Forward-Looking Statements

This presentation contains forward-looking statements and information, within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. SecuritiesAct of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in anyapplicable Canadian securities regulations, concerning the business and operations of Brookfield Renewable. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts,projections, guidance or other statements that are not statements of fact. Forward-looking statements in this presentation include statements regarding the quality of Brookfield Renewable’s assets and theresiliency of the cash flow they will generate, Brookfield Renewable’s anticipated financial performance and payout ratio, future commissioning of assets, the contracted nature of our portfolio, technologydiversification, acquisition opportunities, financing and refinancing opportunities, proceeds from opportunistically recycling capital, future energy prices and demand for electricity, achieving long-term averagegeneration, project development and capital expenditure costs, energy policies, economic growth, growth potential of the renewable asset class, the future growth prospects and distribution profile of BrookfieldRenewable and Brookfield Renewable’s access to capital and liquidity. In some cases, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “scheduled”, “estimates”,“intends”, “anticipates”, “believes”, “potentially”, “tends”, “continue”, “attempts”, “likely”, “primarily”, “approximately”, “endeavours”, “pursues”, “strives”, “seeks”, “targets”, “believes”, “deliver”, “growth”, “advance”or variations of such words and phrases, or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Although we believe that ouranticipated future results, performance or achievements expressed or implied by the forward-looking statements and information in this presentation are based upon reasonable assumptions and expectations,we cannot assure you that such expectations will prove to have been correct. You should not place undue reliance on forward-looking statements and information as such statements and information involveknown and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievementexpressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to, the following: changes to hydrology at ourhydroelectric facilities, to wind conditions at our wind energy facilities, to irradiance at our solar facilities or to weather generally at any of our facilities; volatility in supply and demand in the energy markets; ourinability to re-negotiate or replace expiring power purchase agreements on similar terms; increases in water rental costs (or similar fees) or changes to the regulation of water supply; advances in technologythat impair or eliminate the competitive advantage of our projects; an increase in the amount of uncontracted generation in our portfolio; industry risks relating to the power markets in which we operate; thetermination of, or a change to, the MRE hydrological balancing pool in Brazil; increased regulation of our operations; concessions and licenses expiring and not being renewed or replaced on similar terms;increases in the cost of operating our plants; our failure to comply with conditions in, or our inability to maintain, governmental permits; equipment failures, including relating to wind turbines and solar panels;dam failures and the costs and potential liabilities associated with such failures; force majeure events; uninsurable losses; adverse changes in currency exchange rates and our inability to effectively manageforeign currency exposure; availability and access to interconnection facilities and transmission systems; health, safety, security and environmental risks; disputes, governmental and regulatory investigationsand litigation; counterparties to our contracts not fulfilling their obligations; the time and expense of enforcing contracts against non-performing counter-parties and the uncertainty of success; our operationsbeing affected by local communities; fraud, bribery, corruption, other illegal acts or inadequate or failed internal processes or systems; our reliance on computerized business systems, which could expose us tocyber-attacks; newly developed technologies in which we invest not performing as anticipated; labor disruptions and economically unfavorable collective bargaining agreements; our inability to finance ouroperations due to the status of the capital markets; operating and financial restrictions imposed on us by our loan, debt and security agreements; changes to our credit ratings; our inability to identify sufficientinvestment opportunities and complete transactions; the growth of our portfolio and our inability to realize the expected benefits of our transactions or acquisitions; our inability to develop greenfield projects orfind new sites suitable for the development of greenfield projects; delays, cost overruns and other problems associated with the construction and operation of generating facilities and risks associated with thearrangements we enter into with communities and joint venture partners; Brookfield Asset Management’s election not to source acquisition opportunities for us and our lack of access to all renewable poweracquisitions that Brookfield Asset Management identifies; we do not have control over all our operations or investments; foreign laws or regulation to which we become subject as a result of future acquisitions innew markets; changes to government policies that provide incentives for renewable energy; a decline in the value of our investments in securities, including publicly traded securities of other companies; we arenot subject to the same disclosure requirements as a U.S. domestic issuer; the separation of economic interest from control within our organizational structure; the incurrence of debt at multiple levels within ourorganizational structure; being deemed an “investment company” under the U.S. Investment Company Act of 1940; the effectiveness of our internal controls over financial reporting; our dependence onBrookfield Asset Management and Brookfield Asset Management’s significant influence over us; the departure of some or all of Brookfield Asset Management’s key professionals; changes in how BrookfieldAsset Management elects to hold its ownership interests in Brookfield Renewable; and Brookfield Asset Management acting in a way that is not in the best interests of Brookfield Renewable or our unitholders.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. The forward-looking statements represent our views as of the date of this presentation and should not berelied upon as representing our views as of any subsequent date. While we anticipate that subsequent events and developments may cause our views to change, we disclaim any obligation to update theforward-looking statements, other than as required by applicable law. For further information on these known and unknown risks, please see “Risk Factors” included in our Form 20-F.

Cautionary Statement Regarding Use Of Non-IFRS Measures

This presentation contains references to Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”), Funds From Operations (“FFO”), Funds From Operations on anormalized basis and Funds From Operations per Unit, which are not generally accepted accounting measures under IFRS and therefore may differ from definitions of Adjusted EBITDA, Funds FromOperations, Funds From Operations on a normalized basis and Funds From Operations per Unit used by other entities. We believe that Adjusted EBITDA, Funds From Operations, Funds From Operations on anormalized basis and Funds From Operations per Unit are useful supplemental measures that may assist investors in assessing the financial performance and the cash anticipated to be generated by ouroperating portfolio. Neither Adjusted EBITDA, Funds From Operations, Funds From Operations on a normalized basis nor Funds From Operations per Unit should be considered as the sole measure of ourperformance and should not be considered in isolation from, or as a substitute for, analysis of our financial statements prepared in accordance with IFRS.

References to Brookfield Renewable are to Brookfield Renewable Partners L.P. together with its subsidiary and operating entities unless the context reflects otherwise.

All amounts are in U.S. dollars and presented on a consolidated basis unless otherwise specified.

Table of Contents

Who We ArePage 4

Portfolio Overview Page 10

GrowthPage 16

Financial ProfilePage 27

AppendixPage 32

4

Who We Are

5

We are a multi-technology, globally

diversified, owner and operator of

renewable power assets

6

Leader in Renewable Generation

877 power generating facilities

$42 billionTOTAL POWER ASSETS

25 markets in 15 countries

17,400MEGAWATTS OF CAPACITY

Situated on 82 river systems

76%HYDROELECTRIC GENERATION

One of the largest public pure-play renewable businesses globally

100 years of experience in power generation

Full operating, development and power marketing capabilities

Over 2,500 operating employees

Simple Strategy with Proven Track Record of Success Through All Cycles

Acquire and develop high-quality

renewable power assets and businesses

below intrinsic value

Optimize cash flows by applying our

operating expertise to enhance value

Finance our businesses on an

investment grade basis

Recycle capital from mature,

de-risked assets

8

Portfolio Highlights

Diverse and High-Quality

Asset Base

Over 17,000 megawatts of hydro, wind, solar,

distributed generation and storage capacity

across four continents

Organic Levers to

Grow Cash Flows

Deep operating expertise supports ability to

grow distributions by 5% to 9% per unit

annually through internally generated cash

flows

Contracted

Cash Flows

Over 90% cash flows are contracted with credit-

worthy counterparties primarily under long-term

power purchase agreements

Cash Flow Resiliency

Through-the-Cycle

Robust balance sheet and access to global

capital markets ensures significant downside

protection

9

Long Track-Record of Delivering Attractive, Risk-Adjusted Returns

Our objective is to deliver long-term total returns of 12% ‒ 15% to unitholders annually

$9 Billion MARKET CAPITALIZATION

5% to 9% DISTRIBUTION GROWTH

BEP / BEP.UNNYSE / TSX DUAL LISTING

~7%DISTRIBUTION YIELD

Annualized Total Return 3 yr 5 yr Inception

BEP.UN (TSX) 9% 14% 13%

BEP (NYSE) 10% 9% 15%

S&P/TSX Composite 10% 8% 7%

S&P 500 17% 14% 8%

Source: Bloomberg, including reinvestment of dividends. At September 30, 2018

$1.38

$1.45

$1.55

$1.66

$1.78

$1.87

$1.96

2012 2013 2014 2015 2016 2017 2018

Annual Distribution Price Performance

6%

CAGR

10

Portfolio Overview

11

Diversified Operating Portfolio

Cash flows are well diversified by technology and geography

Hydro Wind Solar

20%

North America Brazil

Colombia Europe & Asia

60%

5%

15%

20%

76%

Multi-technology

with Hydro FocusGrowing Global

Footprint

4%

Based on LTA generation, proportionate to BEP

12

Sustainable Cash Flows

Hydro facilities are designed, constructed and maintained to operate

over a perpetual life with minimal annual re-investment

Contracted Merchant

92%

8%

Contracted

Cash Flows

Return on Capital Return of Capital

95%

5%

Largely Perpetual

Asset Base

13

Global Operations with Local Presence

We have integrated operating platforms on four continents with local operating and

power marketing expertise

NORTH AMERICA8,300 megawatts

$25 Billion in total power assets

SOUTH AMERICA4,800 megawatts

$10 Billion in total power assets

ASIA530 megawatts

$0.5 Billion in total power assets

EUROPE3,700 megawatts

$6.5 Billion in total power assets

14

Complementary Portfolio of High-Quality Assets

We are a leader in renewable power with over 17,000 megawatts largely spread

across five complementary technologies

Wind Solar Distributed

GenerationStorageHydro

• 7,900 megawatts

• Largest

independently

owned hydro

portfolio globally

• 218 facilities on 82

river systems

across North

America and South

America

• 4,400 megawatts

• 105 wind farms

across North

America, South

America, Europe

and Asia

• 1,400 megawatts

• 55 utility-scale

solar facilities

across North

America, South

America, Europe

and Asia

• 400 megawatts

• 489 facilities across

North America

• One of the largest

commercial and

industrial distributed

generation portfolios

in the U.S.

• 2,700 megawatts

• 4 storage facilities

including 3

pumped storage

facilities and 1

battery facility in

the U.S. and U.K.

Note: Brookfield Renewable also owns a niche, ~580 megawatt portfolio of biomass and co-generation facilities

15

Deep Operational Expertise

2,500+EXPERIENCED

OPERATORS

140+POWER MARKETING

EXPERTS

4REGIONAL CONTROL

CENTERS

Generation Management,

Planning and Dispatch

Asset Integration

Asset Integration

Asset IntegrationRegulatoryExpertise

Asset IntegrationNational

System Control

EnergyMarketing Expertise

Engineeringand

Development

Asset Integration

StakeholderEngagement

Asset Integration

Health, Safety, Security and

Environmental

16

Growth

LATIN

AMERICA

• Economic growth driving electricity demand

• Strong support for hydro

• Increasing build-out of solar and wind

NORTH AMERICA

& EUROPE

• Growing renewables targets

• Declining subsidies and tax incentives for

wind and solar

• Rising renewables penetration combined with

nuclear and coal retirements

INDIA

• Economy will likely double in size over the

next decade

• Growing push to build-out hydro, wind and

solar capacity

• Reduced reliance on imported oil and coal

CHINA

• Significant renewables build-out to combat

pollution however, expansion of transmission

infrastructure has not kept pace

• Subsidies for wind and solar are disappearing

and credit is tightening

• Trade war with U.S. could have currency

implications

Favourable Outlook in Our Core Markets

17

18

Significant Investment Opportunity in Our Core Markets

With up to $11 trillion of new investment needed to move to a carbon-free world

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Today 30% Renewables 50% Renewables 100% Renewables

Incremental Renewable Additions and Investment Sizegigawatts

Current Renewables Capacity Incremental Renewables Needed to Meet Target

$850

billion

$5

trillion

$11

trillion

1) Core markets include Canada, U.S., Brazil, Colombia, U.K., Republic of Ireland, Portugal, India, China, Australia

2) Current renewables capacity excludes hydroelectric, and includes wind, solar, biomass, geothermal and marine technologies

3) Assumes a $1,500 per kilowatt new-build cost for renewables and a 40% capacity factor

19

Organic Cash Flow Growth

BEP is focused on delivering 5% to 9% distribution growth annually on a per

unit basis through cash flows generated from our existing business

• Growth target can be achieved from organic initiatives and fully funded by internally

generated cash flows

‒ We do not rely on M&A to achieve cash flow growth targets

Embedded

Inflation

Escalation

(1% to 2%)

Expected

Margin

Expansion

(2% to 4%)

FFO per Unit

Growth

Potential

(6% to 11%)

Advanced

Development

Pipeline

(3% to 5%)

20

Inflation: ~$75 million FFO Contribution Over Five Years

Our revenues are indexed to inflation providing for 1% – 2% annual FFO growth

Proportional Basis Brazil

North

America Colombia

Europe/

Asia

Annual

Total

Revenues1 ($mn) $300 $1,350 $220 $225 $2,095

% Indexed to inflation 85% 30% 70% 40%

Estimated long-term inflation 4.5% 2.0% 3.5% 2.5%

Expected annual revenue uplift ($mn) $12 $8 $5 $2 $27

Expected FFO margin 60% 55% 40% 40% 50%

Expected annual FFO uplift ($mn) $7 $5 $2 $1 $15

1) Annualized and normalized 2018 revenues

21

Re-contracting: ~$40 million FFO Contribution Over Five Years

Limited downside risk to PPA maturities in North America plus exposure to rising power

prices in Brazil and Colombia providing for 1% – 2% annual FFO growth

Annual

Generation

Current Contract

Price ($/MWh)

Current Market

Price1 ($/MWh)

Expected FFO

Impact

($ million)

Quebec 1,470 GWh $55 $50 ($7)

New England 1,000 GWh $39 $50 $11

Other 1,620 GWh $53 $50 ($5)

North America re-contracting 4,090 GWh $51 $50 ($1)

Brazil re-contracting 1,650 GWh $63 $75 $20

Colombia re-contracting 2,200 GWh $73 $83 $22

Total re-contracting 7,940 GWh $41

Note: shown on a proportionate basis

1) All-in price

22

Cost Reduction: ~$65 Million FFO Contribution Over Five Years

Targeted cost reduction of $2 per MWh would add ~$65 million to FFO over the next five

years or 1% – 2% annual FFO growth

Savings:

$2.00 / MWh

$40 million

North America

Savings:

$2.00 / MWh

$10 million

Brazil

Savings:

$2.00 / MWh

$10 million

Colombia

Savings:

$2.00 / MWh

$3 million

Europe

Note: shown on a proportional basis

Streamlining

Processes

OperationalEfficiencies

Optimize Structuring

Economies of Scale

23

8,000 MW6,7001,300

Early Late Stage

Proprietary Development Pipeline

Focused on advancing our development pipeline at premium returns

Development Stage Technology Region

35%

45%

10%

10%

Hydro Wind Distributed Generation Other

25%

45%

10%

20%

North America LATAM Asia Europe

24

Construction and Advanced Projects

In addition to the assets listed above, we have 176 MW of advanced stage

projects expected to contribute an additional $26 million to FFO annually

We have 288 MW of construction and advanced stage assets expected to

contribute approximately $40 million of annualized FFO once commissioned

Project Region Technology Capacity (MW)

Expected

Commissioning

Expected

Annualized FFO

($ Million)

Silea Verde 4 (Savana) Brazil Hydro 19 Q4-2018 2

Foz do Estrela Brazil Hydro 30 Q1-2021 9

Bear SwampNorth

AmericaStorage 63 Q2-2021 3

Total 131 ~$14M

We Leverage our Global Footprint to Source Transactions on a Value Basis

We target annual equity deployment of $700 million in high quality assets to deliver 12% to

15% annual returns, while focusing on downside protection and preservation of capital

Decarbonization has created a large and

growing investible universe for renewables

We employ a contrarian strategy, looking for

capital scarcity to earn superior returns

Proactive outreach program in major

global financial centers with expertise in

executing large, multi-faceted transactions

26

Proven Track Record of Capital Deployment

Since 2013, we have developed or acquired 12,500 MW of capacity

across technologies and geographies

$0.0

$0.5

$1.0

Hydro Wind Solar Other

Tho

usands

North America Latin America Europe Asia

Deployed $3.3 billion of BEP equity since 2013$billions

27

Financial Profile

28

Robust Balance Sheet

Debt Maturity Ladder$billions, as at Nov 5, 2018BBB+

INVESTMENT GRADE BALANCE SHEET

>10 YEARSAVERAGE PROJECT DEBT TERM TO MATURITY

~70%NON-RECOURSE FINANCINGS

Highest rating in the sector

No material maturities with refinancing risk

over the next 5 years

Structured on an investment grade basis with

attractive covenant packages

$0.0

$1.0

$2.0

$3.0

$4.0

2018 2019 2020 2021 2022 After

Non-Recourse Maturities Recourse Maturities

~90%FIXED RATE FINANCINGS

Minimal interest rate exposure, and no

meaningful near-term maturities

41%DEBT TO TOTAL

CAPITALIZATION

~3.0XCONSOLIDATED EBITDA /

INTEREST COVERAGE

Access to Deep Pool of Capital

Significant Liquidity Partner Capital

Diversified Access to

Capital MarketsTrack Record of

Capital Recycling

We currently have $2.3 billion of

available liquidity

We have access to ~$5 billion of

partner capital to invest alongside

We have raised ~$3 billion in

corporate debt and equity (preferred

and common) markets since 2015

Raised over $700 million in proceeds

in the last two years through

opportunistic capital recycling

Note: figures reflect pro forma available liquidity includes $650 million of proceeds from the announced sale of a 25% non-controlling interest in a 413 MW hydroelectric portfolio in Canada

and an additional 25% non-controlling interest that we intend to sell within the next three months, and BEP’s portion of proceeds associated with assets held for sale in South Africa

Multiple

Funding

Levers

30

Investment Recap

Diverse and high-quality asset base

underpinned by contracted cash flows• Over 17,000 MW across five technologies and four continents

• Over 90% contracted cash flows

Strong core business with embedded

organic growth• Deep operational expertise supports ability to grow distributions

by 5% to 9% annually though organic levers alone

Significant upside from acquisitions on

a value basis• Contrarian and disciplined approach to allocating capital

• Target 12% to 15% returns on investments

Downside protection to ensure cash

flow resiliency through-the-cycle

• Investment grade balance sheet since inception

• Primarily fixed rate, asset level debt with minimal floating rate

exposure funded in local currency that is non-recourse to BEP

• Maintain significant liquidity and access to global capital markets

Proven track record • 15% annualized returns to unitholders since inception

31

Contacts

Contact Title Email

Sachin Shah Chief Executive Officer sachin.shah@brookfield.com

Wyatt Hartley Chief Financial Officer wyatt.hartley@brookfield.com

Divya Biyani Manager, Investor Relations divya.biyani@brookfield.com

32

Appendix

33

Highly Contracted Cash Flows

• Power is largely sold to investment grade counterparties under long-term, fixed price, inflation-linked

contracts with an average proportionate term of 14 years

• We expect to re-contract expiring PPAs at levels equal to or higher than roll-off prices

‒ Current all-in power prices exceed our underwriting targets, supporting embedded upside in our

cash flows

‒ In Latin America and Asia, power prices will continue to be supported by the need to build new

supply to serve growing demand

Generation

(GWh) 2018 2019 2020 2021 2022

Contracted

Hydroelectric(1) 2,808 10,442 11,010 7,841 7,801

Wind 1,185 4,419 4,285 4,210 4,180

Solar 214 972 972 972 972

4,207 15,833 16,267 13,023 12,233

Uncontracted 377 2,816 2,382 5,626 6,417

LTA 4,584 18,649 18,649 18,649 18,650

% of generation 92% 85% 87% 70% 66%

Amounts proportionate to BEP

Note: The table above excludes Brazil and Colombia where we would expect the energy associated with

maturing contracts to be re-contracted in the normal course given the construct of the respective power markets,

and to maintain a contracted profile of approximately 90% and 70%, respectively

1) Generation reflects the sale of a 25% non-controlling interest in a 413 MW hydroelectric portfolio in Canada and the restructuring of certain related party contracts

34

Hydroelectric Portfolio

Over 7,900 megawatts of hydro across 218 facilities on 82 river systems across

North America and South America

• Began investing in hydro over 20 years ago

• Our operating platforms position us to create value:

‒ Centralized system control

‒ Ability to sell power in multiple markets

‒ Optimization of resource through storage and ability to sell

during peak demand periods

• Highest value renewable asset class

• Perpetual

• High cash margins

• Zero fuel input cost

• Storage capacity and ability to produce power at all hours of the day

• Ability to sell multiple products (energy, capacity, ancillaries)

• Significant barriers to entry requiring deep operational and marketing

expertise

Smoky Mountain, United States

Key Attributes Miel, Colombia

35

Wind Portfolio

4,400 megawatts of wind capacity across 105 facilities in North America, South

America, Europe and Asia

• Developed our first wind farm in 2006, and have since built a

high-quality, globally diversified wind business:

‒ Focused on areas with scarcity value

‒ Assets are located in high-value power markets

‒ Portfolio benefits from long-term, utility grade PPAs

‒ Tier 1 turbine equipment (GE, Siemens, Vestas, Enercon)

• High cash margins

• Zero fuel input cost

• Relatively low build cost and improving turbine efficiency

• Minimal ongoing capex requirements

• Simple to operate

• Outsourced O&M providers are available to financial buyers, supporting

our capital recycling program

Toutico, Portugal

Key Attributes Slievecallan, Ireland

36

Solar and Distributed Generation Portfolio

1,800 megawatts of solar spread across 544 facilities in North America, South

America, Europe and Asia

• Portfolio is entirely contracted under long term PPAs with credit-

worthy counterparties

• Diversified across utility-scale and distributed generation solar

facilities

‒ Distributed generation focus on commercial and industrial

sector, and is one of the largest such portfolios in the

United States

Regulus, United States

Key Attributes California High School DG Project, United States

• High cash margins

• Zero fuel input cost

• Diverse and scalable applications

• Rapidly declining costs

• Improved technological productivity

• Distributed generation has additional benefits:

• Highly fragmented market

• Consumers can directly access generation at point of consumption

• Gives us access to customers directly

37

Storage Portfolio

2,700 megawatts of storage capacity across 4 facilities in the U.S. and U.K.

• Portfolio largely consists of three pumped storage facilities, and a

small investment in a 10 MW battery in Hawaii

• 2,100 MW First Hydro portfolio represents 75% of the U.K.’s

pumped storage capacity and 50% of its hydro capacity

• Our 600 MW pumped storage facility in Massachusetts is one of

only two of its kind in New England

Bear Swamp, United States

Key Attributes First Hydro, United Kingdom

• Revenues largely tied to essential ancillary services and provision of

back-up power

• Value likely to increase over time with rising penetration of intermittent

power sources

• Represents a stable source of cash flows which are not correlated with

market prices

• Able to produce electricity at peak times, and replenish themselves

during periods of lower pricing and demand

• Pumped storage assets act as the world’s largest “rechargeable

batteries” and represent the most cost-effective way to store large

amounts of potential electrical energy

38

Corporate Structure

68%

Brookfield

Business

Partners (BBU)

Brookfield Asset Management (BAM)

~$43b Market Cap¹ (TSX, NYSE)

53%

Brookfield

Property

Partners (BPY)

30%

Brookfield

Infrastructure

Partners (BIP)

60%

Brookfield

Renewable

Partners (BEP)2

Private Fund LPs⁴

Company

A

Company

B

Company

C

Company

D

30%³

70%³

1) Based on closing price on the NYSE on September 30, 2018

2) BEP generally funds Brookfield’s commitment to renewables transactions in Private Funds

3) Indicative figure only, and subject to transaction size, co-investment, and other considerations

4) Indicative third-party commitments

39

Governance

SENIOR MANAGEMENT TEAM

Sachin Shah Chief Executive Officer

Wyatt Hartley Chief Financial Officer

Brookfield Renewable has entered into a Master Services Agreement with Brookfield Asset Management

• Provides comprehensive suite of services to Brookfield Renewable Partners

• Base management fee of $20 million adjusted annually for inflation

• Equity enhancement fee equal to 1.25% of the increase in BEP’s capitalization

Incentive distributions based upon increases in distributions paid to unitholders over pre-defined thresholds (Master

Limited Partnerships (MLP) structure)

• 15% participation by Brookfield in distributions over $0.375/unit per quarter

• 25% participation by Brookfield in distributions over $0.4225/unit per quarter

Brookfield Renewable’s general partner has a majority of independent directors

Brookfield Renewable’s governance is structured to provide significant alignment of interests between Brookfield

Asset Management and unitholders

40

Favourable Structure Relative to Master Limited Partnerships

Brookfield Renewable has not and is not expected to generate UBTI and ECI

• Brookfield Renewable is a Bermuda-based publicly traded partnership that indirectly

owns holding corporations in the U.S., Canada and other jurisdictions. Brookfield

Renewable is not a U.S. MLP

• Chart below shows a comparison of Brookfield Renewable versus an MLP

1) Not all MLP’s are the same. This represents Brookfield’s understanding of common features with these types of vehicles

2) UBTI is unrelated business taxable income

3) ECI is effectively connected income

4) Source: Management estimates based on Barclays Capital Master Limited Partnerships MLP Trader Weekly

Brookfield Renewable MLP1

Type of entity Publicly traded partnership Publicly traded partnership

UBTI2 No Yes

ECI3 No Yes

U.S. tax slip issued K1 K1

Tax profile of distributions Benefits from return of capital Benefits from depreciation

Payout ratio ~70% of FFO 80%-90% of distributable cash flow4

Incentive distributions 25% maximum 50% maximum

41

Leader in Green Energy & Sustainability

BEP is the largest member by market capitalization of the S&P/TSX Renewable Energy and Clean

Technology Index.

Since 2017, BEP has issued three green bonds through project-level financings for an aggregate

value of over $1 billion. Citing BEP's environmental stewardship, commitment to renewable power,

and use of proceeds towards renewable power generation, the green bonds received E-1 Green

Evaluation scores from S&P - the highest on its scale.

BEP is committed to sustainable development principles that reduce the impact of our operations

and help to manage the underlying water resources efficiently. Low Impact Hydropower Institute

(LIHI) certification is a voluntary certification program designed to help identify and provide market

incentives for hydropower operations that are minimizing their environmental impacts. BEP has

received LIHI certification for 55 hydro facilities across the US, more than any other operator,

making it the U.S. leader in low impact hydropower generation.

The Environmental Choice Program is a comprehensive national program sponsored by

Environment Canada. It certifies manufacturers and suppliers that produce products and services

that are less harmful to the environment. These bear the EcoLogo registered trademark. 22 of our

hydroelectric facilities in Ontario, Quebec, and British Columbia meet the strict standards of the

Environmental Choice Program.

The Brookfield Environmental Education Center was established in Guarani, Minas Gerais, Brazil,

from a partnership between Brookfield Energia Renovável and the local community. The project

aims to provide the entire population of the Pomba River Valley a place to develop environmental

education projects. To make the project sustainable, the local community was trained to manage

the Environmental Education Center and created a non-governmental organization to do it.

This product includes Low Impact Hydropower from facilities certified by the Low Impact Hydropower Institute (an independent non-profit organization) to have environmental

impacts in key areas below levels the Institute considers acceptable for hydropower facilities. For more information about the certification, please visit www.lowimpacthydro.org.