Brookfield Renewable Partners (BEP)

CORPORATE PROFILE

FEBRUARY 6 , 2020

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. Securities

Act 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 any

applicable 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 the

resiliency of the cash flow they will generate, Brookfield Renewable’s anticipated financial performance and payout ratios of FFO (as defined below), expected liquidity, the outlook in our core markets, including

North America, Europe, Latin America, China and India expected impact of inflation on revenue and FFO, target annual equity deployment, returns and costs reductions, future commissioning of assets, the

contracted nature of our portfolio, technology diversification, acquisition and investment opportunities, financing and refinancing opportunities, proceeds from opportunistically recycling capital, future energy

prices and demand for electricity, achieving long-term average generation, 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 Brookfield Renewable 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 our anticipated 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 involve known 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 achievement expressed 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: changes to hydrology at our hydroelectric facilities, to

wind conditions at our wind energy facilities, to irradiance at our solar facilities or to weather generally, as a result of climate change or otherwise, at any of our facilities; volatility in supply and demand in the

energy markets; our inability 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 technology that 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; the termination of, or a change to, the MRE balancing pool in Brazil; increased regulation of our operations; concessions and licenses expiring and not being renewed or replaced on similar

terms; our real property rights for wind and solar renewable energy facilities being adversely affected by the rights of lienholders and leaseholders that are superior to those granted to us; 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 and higher insurance premiums; adverse changes in currency exchange rates and our inability to effectively

manage foreign currency exposure; availability and access to interconnection facilities and transmission systems; health, safety, security and environmental risks; disputes, governmental and regulatory

investigations and 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

operations being 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 to cyber-attacks; newly developed technologies in which we invest not performing as anticipated; labor disruptions and economically unfavorable collective bargaining agreements; our inability to

finance our operations 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

sufficient investment 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 or find 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 the arrangements 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

power acquisitions that Brookfield Asset Management identifies; we do not have control over all our operations or investments; political instability or changes in government policy, or unfamiliar cultural factors;

foreign laws or regulation to which we become subject as a result of future acquisitions in new 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 are not subject to the same disclosure requirements as a U.S. domestic issuer; the separation of economic interest from

control within our organizational structure; future sales and issuances of our limited partnership units, preferred limited partnership units or securities exchangeable for our limited partnership units, or the

perception of such sales or issuances, could depress the trading price of our limited partnership units or preferred limited partnership units; the incurrence of debt at multiple levels within our organizational

structure; being deemed an “investment company” under the U.S. Investment Company Act of 1940; the risk that the effectiveness of our internal controls over financial reporting; our dependence on Brookfield

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 Brookfield Asset

Management elects to hold its ownership interests in Brookfield Renewable; Brookfield Asset Management acting in a way that is not in the best interests of Brookfield Renewable or our unitholders; and other

factors described in this prospectus, including those set forth under “Risk Factors” in our annual report on Form 20-F.

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 be

relied 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 the

forward-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 annual report on Form 20-F.

Table of Contents

Who We Are Page 4

Portfolio Overview Page 11

Growth Page 15

Financial Profile Page 21

Appendix Page 26

3

4

Who We Are

5

We are a multi-technology, globally

diversified, owner and operator of

renewable power assets

6

Leader in Renewable Generation

5,274 power generating facilities

$50 billionTOTAL POWER ASSETS

27 markets in 17 countries

19,000MEGAWATTS OF CAPACITY

Situated on 84 river systems

74%HYDROELECTRIC GENERATION

One of the largest public pure-play renewable businesses globally

120 years of experience in power generation

Full operating, development and power marketing capabilities

Over 2,800 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

7

8

Portfolio Highlights

Diverse and High-Quality

Asset Base

Approximately 19,000 megawatts of hydro,

wind, solar, distributed generation and storage

capacity across four continents

Multiple Levers to

Grow Cash Flows

Proven and repeatable growth strategy

combining a value investment approach with

operating expertise and capital discipline

Cash Flow Resiliency

Through-the-Cycle

Robust balance sheet and access to global

capital markets ensures significant downside

protection

Proven

Track Record

20-year track record in the renewable power

sector, delivering 18% annualized returns to

unitholders since inception

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

~$16 Billion1

MARKET CAPITALIZATION

5% to 9% TARGET DISTRIBUTION GROWTH

BEP / BEP.UNNYSE / TSX DUAL LISTING

~4%1

DISTRIBUTION YIELD

Annualized Total Return 3 yr 5 yr Inception

BEP.UN (TSX) 22% 18% 17%

BEP (NYSE) 23% 15% 18%

S&P/TSX Composite 7% 6% 6%

S&P 500 15% 12% 6%

Source: Bloomberg, including reinvestment of dividends. At December 31, 2019

Annual DistributionPrice Performance

6%

CAGR

1.381.45 1.55 1.66

1.781.87

1.962.06

2.17

2012 2013 2014 2015 2016 2017 2018 2019 2020

1) As of December 31, 2019

10

Strong ESG Practices Create Long-Term Stakeholder Value

Our portfolio’s generation helps to displace ~27 million metric tons of carbon dioxide

annually, equivalent to 450 million trees planted

• Accelerate the

decarbonization of global

electricity grids through

our renewable power

portfolio

• Apply Task Force on

Climate-related Financial

Disclosures (TCFD)

framework to analyze

long-term climate change

risks

• Protect biodiversity

• Manage water and waste

resources

• Maintain a social license

to operate

• Health and safety – with a

focus on high-risk

incidents – prevention is a

top priority

• Proactively engage with

and give back to

communities in which we

operate

• Human capital initiatives

emphasizing diversity and

inclusion

Social

• Operate with high ethical

standards and a robust

policy framework (e.g. our

Code of Business Conduct

and Ethics, Anti-Bribery

and Anti-Corruption Policy)

• Integrate ESG into our

decision-making,

processes and

management systems

• Diverse Board of

Directors and executive

management team

• Asset and information

security

GovernanceEnvironmental

11

Portfolio Overview

12

Diversified Operating Portfolio with Stable Cash Flows

Cash flows are supported by a strong contract profile and are well diversified

by technology and geography

Hydro Wind Solar

21%

Contracted Merchant

95%

5%

74%

Hydro

Focused

Growing Global

Footprint

Contracted

Cash Flows

5%

Based on long-term average generation, proportionate to BEP

North America

Latin America & Asia

Europe

34%

4%

62%

13

Global Operations with Local Presence

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

power marketing expertise

NORTH AMERICA8,900 megawatts

$29 Billion in total power assets

SOUTH AMERICA4,900 megawatts

$13 Billion in total power assets

ASIA1,000 megawatts

$1 Billion in total power assets

EUROPE4,200 megawatts

$7 Billion in total power assets

14

Complementary Portfolio of High-Quality Assets

Uniquely complementary asset base spread across five technologies

Wind4,600 MW

Solar2,300 MW

DG780 MW

Storage2,700 MW

Hydro7,900 MW

Our portfolio has

significant storage

capacity and ability

to produce power at

all hours of the day

Our wind assets are

focused on areas

with scarcity value,

and built with Tier 1

turbine equipment

Diversified portfolio

across PV and CSP

technologies with

diverse and scalable

applications

We own one of the

largest C&I DG

portfolios in the U.S.,

giving us direct

access to our

customers

Our pumped storage

and battery assets

are able to produce

electricity during

peak hours, and

recharge when

prices are low

Brookfield Renewable also owns a ~590 megawatt portfolio of biomass and co-generation facilities

15

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

16

17

Significant Investment Opportunity in Renewable Power

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, Spain, Portugal, India and China

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

18

Organic Cash Flow Growth

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

basis from organic initiatives and fully funded by internally generated cash flows

Lever

Expected Annual

FFO Growth

Expected 5 Year

FFO Contribution Detail

Inflation

Escalation1% to 2% ~$75 million ~40% of our revenues have embedded inflation indexation

Re-Contracting 1% to 2% ~$40 million Limited downside risk to PPA maturities in North America

plus exposure to rising power prices in Brazil and Colombia

Cost Reduction 1% to 2% ~$65 million Targeting cost reductions of $2/MWh

Development &

Repowering3% to 5% ~$125 million

Targeting to build 1,000 MW from our proprietary

development pipeline over the next five years at premium

returns

FFO per Unit

Growth

Potential

6% to 11% ~$305 million We do not rely on M&A to achieve our

distribution growth target

19

Assets Under Construction

The following table summarizes the 717 MW of assets currently under construction and the expected

FFO on an annualized basis:

Project Name County/Region Technology Capacity (MW)

Expected date of

commission

Annualized

expected FFO

(millions)1

GLP Rooftop JV China Solar 63 Q1 2020 1

Knockawarriga II Ireland Wind 8 Q1 2020 1

Foz do Estrela Brazil Hydroelectric 30 Q2 2021 6

Bear Swamp

(Unit Upgrade)

North

America

Pumped

Storage66 Q2 2021 3

X-Elio North AmericaNorth

AmericaSolar 401 Q1-Q3 2020 3

X-Elio Europe Spain Solar 135 Q3 2020 1

X-Elio Asia Japan Solar 14 Q2 2020 1

Total 717 ~$16M

We are also advancing hydroelectric, wind, solar and distributed generation construction projects across

four continents, including 1,380 MW (570 MW net to Brookfield Renewable) of advanced stage

projects through final permitting and securing a route-to-market, including re-powering projects in the

New York, California and Hawaii, Once commissioned, these facilities are expected to contribute over

$56 million in FFO on an annualized basis.

Since closing on X-Elio, our total development pipeline increased to approximately 13,000 MW, further

diversifying our pipeline across technologies and geographies.

1) Proportionate to BEP

20

Proven Track Record of Capital Deployment

Since 2014, we have developed or acquired 14,000 MW of capacity

across technologies and geographies

$0.0

$0.5

$1.0

$1.5

$2.0

Hydro Wind Solar Other

Tho

usands

North America Latin America Europe Asia

Deployed $3.5 billion of BEP equity since 2014$billions

21

Financial Profile

Robust Balance Sheet

Debt Maturity Ladder$billions, as at December 31, 2019BBB+

INVESTMENT GRADE BALANCE SHEET

10 YEARSAVERAGE PROJECT DEBT TERM TO MATURITY

~80%NON-RECOURSE FINANCINGS

Highest rating in the sector with non-amortizing

corporate debt fully supported by perpetual

hydro portfolio

Well laddered debt profile with no material

maturities in the next 4 years or deferred financing

structures like converts or tax equity

Structured on an investment grade basis with

attractive covenant packages that are free from

financial maintenance covenants

~90%FIXED RATE FINANCINGS

Minimal interest rate exposure, with only 5% of

our debt in North America and EU exposed to

rising interest rates

~9.3xDECONSOLIDATED

INTEREST

COVERAGE

16%DEBT TO

CAPITALIZATION -

CORPORATE

22

$0.0

$1.0

$2.0

$3.0

$4.0

$5.0

2020 2021 2022 2023 2024 After

Non-Recourse Maturities Recourse Maturities

Access to Deep Pool of Capital

Significant Liquidity Partner Capital

Diversified Access to

Capital MarketsTrack Record of

Capital Recycling

We currently have ~$2.7 billion

of available liquidity

We have access to ~$5 billion of

partner capital to invest alongside

We have raised ~$3.3 billion in

corporate debt and equity (preferred

and common) since 2015

Raised ~$1.1 billion in proceeds in

the last two years through

opportunistic capital recycling

Multiple

Funding

Levers

23

Key Takeaways…

24

STRATEGY

Proven and repeatable strategy combining

a value investment approach with

operating expertise and capital discipline

GLOBAL SCALE

Global scale across 4 continents affords

us significant flexibility in moving capital

across the world

MULTI-TECHNOLOGY

Multi-technology platforms in hydro, wind,

solar, distributed generation and storage

allows us to be nimble with our capital

TRACK RECORD

20 year track record in the renewables

space, delivering 18% annualized returns

to unitholders

25

Contacts

Contact Title Email

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

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

Robin Kooyman Senior Vice President, Investor Relations robin.kooyman@brookfield.com

26

Appendix

27

Corporate Structure

63%

Brookfield

Business

Partners (BBU)

Brookfield Asset Management (BAM)

~$63B Market Cap¹ (TSX, NYSE)

51%

Brookfield

Property

Partners (BPY)

30%

Brookfield

Infrastructure

Partners (BIP)

60%5

Brookfield

Renewable

Partners(BEP)2

Private Fund LPs⁴

Company

A

Company

B

Company

C

Company

D

25%³

75%³

1) Based on closing price on the NYSE on December 31, 2019

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

5) On a fully-exchanged basis

28

Governance

EXECUTIVE LEADERSHIP

Sachin Shah Chief Executive Officer

Wyatt Hartley Chief Financial Officer

Jennifer Mazin General Counsel

Ruth Kent Chief Operating 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

29

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

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

Incentive distributions 25% maximum 50% maximum

30

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 four green bonds through project-level financings for an aggregate

value of over $1.6 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 issued two corporate-level green bonds to date – C$300 million in 2018 and C$600 million in

2019 – under its Green Bond Framework with proceeds to be used to finance and/or refinance

investments in renewable power generation and to support the development of clean energy

technologies. A third-party opinion from Sustainalytics deemed the Framework to be credible and

impactful.

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.1

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.

1) 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.

31

-

0.2

0.4

0.6

0.8

1.0

1.2

1.4

- 50 100 150 200 250

Generation (TWh)

-

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

Lowest Carbon Footprint in the Sector

• Our carbon footprint is one of the

lowest compared to peers in the

electricity generation industry

• Our primary renewable sources –

water, wind and sunlight result in

very low GHG emissions

• BEP generates approximately 50

TWh of clean energy annually,

displacing ~27 million metric tons

of carbon dioxide emissions

annually

‒ Equivalent to 450 million

trees planted

Mill

ion T

onnes o

f C

O2 E

quiv

ale

nt

Em

issio

ns (

tCO

2e)

Source: Public company filings/disclosures

Note: Brookfield Renewable Partners emissions calculated based on GHG Protocol methodology

GHG Emissions(million tCO2e) / Generation (TWh)