Brookfield Renewable Partners (BEP)

CORPORATE PROFILE

NOVEMBER 2019

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, transactions signed but not yet closed, 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, the following: 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 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 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, changes in government policy, or unfamiliar cultural factors could adversely impact the value of our investments; 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; 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 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; 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 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.

Cautionary Statement Regarding Use Of Non-IFRS MeasuresThis presentation contains references to Funds From Operations (“FFO”) and FFO per Unit, which are not generally accepted accounting measures under IFRS and therefore may differ from definitions of FFO, and FFO per Unit used by other entities. We believe that FFO and FFO per Unit are useful supplemental measures that may assist investors in assessing the financial performance and the cash anticipated to be generated by our operating portfolio. Neither FFO or FFO per Unit should be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, analysis of our financial statements prepared in accordance with IFRS. For a reconciliation of FFO and FFO per Unit to the most directly comparable IFRS measure, please see “Financial Performance Review on Proportionate Information – Reconciliation of Non-IFRS Measures” included in our annual report on Form 20-F and “Part 4 - Financial Performance Review on Proportionate Information – Reconciliation of non-IFRS measures” in our management’s discussion and analysis for the three and nine months ended September 30, 2019.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 Are Page 4

Portfolio Overview Page 10

Growth Page 14

Financial Profile Page 20

Appendix Page 26

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4

Who We Are

5

We are a multi-technology, globally diversified, owner and operator of

renewable power assets

6

Leader in Renewable Generation

5,253 power generating facilities

$50 billionTOTAL POWER ASSETS

25 markets in 15 countries

18,000MEGAWATTS 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

3,000 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

Over 18,000 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 17% annualized returns to unitholders since inception

9

1.381.45

1.551.66

1.781.87

1.962.06

2012 2013 2014 2015 2016 2017 2018 2019

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

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

$14 Billion MARKET CAPITALIZATION

5% to 9% TARGET DISTRIBUTION GROWTH

BEP / BEP.UNNYSE / TSX DUAL LISTING

~5%DISTRIBUTION YIELD

Annualized Total Return 3 yr 5 yr Inception

BEP.UN (TSX) 17% 16% 16%

BEP (NYSE) 17% 12% 17%

S&P/TSX Composite 7% 5% 7%

S&P 500 13% 11% 6%Source: Bloomberg, including reinvestment of dividends. At September 30, 2019

Annual Distribution Price Performance

6%CAGR

10

Portfolio Overview

11

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

22%

Contracted Merchant

89%

11%

74%

HydroFocused

Growing Global Footprint

ContractedCash Flows

4%

Based on long-term average generation, proportionate to BEP

North AmericaLatin America & AsiaEurope & Other

33%

5%

62%

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Global Operations with Local Presence

We have integrated operating platforms on four continents with local operating and power marketing expertise

NORTH AMERICA8,400 megawatts

$29 Billion in total power assets

SOUTH AMERICA4,800 megawatts

$12 Billion in total power assets

ASIA1,000 megawatts

$0.5 Billion in total power assets

EUROPE3,600 megawatts

$8 Billion in total power assets

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Complementary Portfolio of High-Quality Assets

Uniquely complementary asset base spread across five technologies

Wind4,800 MW

Solar1,300 MW

DG720 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 ~580 megawatt portfolio of biomass and co-generation facilities

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Growth

LATINAMERICA

• 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

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16

Significant Investment Opportunity in Renewable Power

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

01,0002,0003,0004,0005,0006,0007,0008,0009,000

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 and China2) Current renewables capacity excludes hydroelectric, and includes wind, solar, biomass, geothermal and marine technologies3) Assumes a $1,500 per kilowatt new-build cost for renewables and a 40% capacity factor

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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

LeverAnnual FFO Growth

5 Year FFO Contribution Detail

Inflation Escalation

1% 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 & Repowering

3% 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

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Construction and Advanced Projects

We have 151 MW of construction projects expected to contribute ~$11 million of annualized FFO once commissioned

Project Region Technology Capacity (MW)Expected

Commissioning

Expected Annualized FFO

($ Million)¹

GLP Rooftop JV China Solar 47 2019-2020 1

Knockawarriga II Ireland Wind 8 Q1-2020 1

Foz do Estrela Brazil Hydro 30 Q2-2021 6

Bear Swamp (Unit Upgrade)

North America

Pumped Storage 66 Q2-2021 3

Total 151 ~$11M

1) Proportionate to BEP

We are also advancing our global hydroelectric, wind, solar and distributed generation development pipeline, including 960 MW (526 MW net to Brookfield Renewable) of advanced stage projects through final permitting and securing a

route-to-market, including re-powering projects in the U.S. that, combined, are expected to contribute over $55 million in FFO on an annualized basis.

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Proven Track Record of Capital Deployment

Since 2013, we have developed or acquired 13,000 MW of capacity across technologies and geographies

$0.0

$0.5

$1.0

$1.5

$2.0

Hydro Wind Solar OtherNorth America Latin America Europe Asia

Deployed $3.6 billion of BEP equity since 2013$billions

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Financial Profile

Robust Balance Sheet

Debt Maturity Ladder$billions, as at September 30, 2019 1BBB+

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

$0.0

$1.0

$2.0

$3.0

$4.0

2019 2020 2021 2022 2023 AfterNon-Recourse Maturities Recourse Maturities

~90%FIXED RATE FINANCINGS

Minimal interest rate exposure, with only 5% of our debt in North America and EU exposed to rising interest rates

~9.5xDECONSOLIDATED INTEREST COVERAGE

17%DEBT TOCAPITALIZATION -CORPORATE

211 Debt Maturity Ladder is proforma Series 7 MTN repayment in October 2019.

Access to Deep Pool of Capital

Significant Liquidity Partner Capital

Diversified Access to Capital Markets

Track Record of Capital Recycling

We currently have $2.5 billion of available liquidity

We have access to ~$5 billion of partner capital to invest alongside

We have raised ~$3.2 billion in corporate debt and equity (preferred

and common) since 2015

Raised ~$780 million in proceeds in the last two years through opportunistic capital recycling

Multiple Funding Levers

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Key Takeaways…

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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 17% annualized returns to unitholders

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Contacts

Contact Title Email

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

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

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

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Appendix

26

Corporate Structure

63%

Brookfield Business

Partners (BBU)

Brookfield Asset Management (BAM)~$60B Market Cap¹ (TSX, NYSE)

51%

Brookfield Property

Partners (BPY)

30%

Brookfield Infrastructure Partners (BIP)

61%

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 September 30, 20192) BEP generally funds Brookfield’s commitment to renewables transactions in Private Funds3) Indicative figure only, and subject to transaction size, co-investment, and other considerations4) Indicative third-party commitments

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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

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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 vehicles2) UBTI is unrelated business taxable income3) ECI is effectively connected income4) 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

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Leader in Green Energy & Sustainability

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

Since 2017, BEP has issued three green bonds through project-level financings for an aggregatevalue 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 GreenEvaluation 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 in2019 – under its recently implemented Green Bond Framework with proceeds to be used tofinance and/or refinance investments in renewable power generation and to support thedevelopment of clean energy technologies. A third-party opinion from Sustainalytics deemed theFramework to be robust, transparent and impactful.

BEP is committed to sustainable development principles that reduce the impact of our operationsand 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 marketincentives for hydropower operations that are minimizing their environmental impacts. BEP hasreceived 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 byEnvironment Canada. It certifies manufacturers and suppliers that produce products and servicesthat are less harmful to the environment. These bear the EcoLogo registered trademark. 22 of ourhydroelectric facilities in Ontario, Quebec, and British Columbia meet the strict standards of theEnvironmental 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.

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0.2

0.4

0.6

0.8

1.0

1.2

1.4

- 50 100 150 200 250Generation (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 50TWh of clean energy annually, replacing ~25 million tons of annual emissions‒ Equivalent of 5.3 million

passenger vehicles driven for one year

Milli

on T

onne

s of

CO

2 Eq

uiva

lent

Em

issi

ons

(tCO

2e)

Source: Public company filings/disclosuresNote: Brookfield Renewable Partners emissions calculated based on GHG Protocol methodology

GHG Emissions(million tCO2e) / Generation (TWh)