Brookfield Renewable Partners (BEP)

CORPORATE PROFILE

MAY 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

5,288 power generating facilities

$48 billionTOTAL POWER ASSETS

27 markets in 17 countries

19,300MEGAWATTS 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

Approximately 3,000 operating employees

7

Simple Strategy with Proven Track Record of Success Through 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

Approximately 19,300 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%1 annualized returns to unitholders since inception

1) Based on the closing price on March 31, 2020, pro forma the TerraForm Power transaction.

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 Billion1MARKET CAPITALIZATION

5% to 9% TARGET DISTRIBUTION GROWTH

BEP / BEP.UNNYSE / TSX DUAL LISTING

~5%1DISTRIBUTION YIELD

Annualized Total Return 3 yr 5 yr Inception

BEP.UN (TSX) 21% 15% 17%

BEP (NYSE) 19% 13% 17%

S&P/TSX Composite -2% 1% 5%

S&P 500 5% 7% 5%

Source: Bloomberg, including reinvestment of dividends. At March 31, 2020

Annual Distribution Price Performance 6%

CAGR

1.38 1.45 1.55 1.661.78 1.87

1.96 2.06 2.17

2012 2013 2014 2015 2016 2017 2018 2019 2020

1) As of March 31, 2020

10

Strong ESG Practices Create Long-Term Stakeholder Value

Our portfolio’s generation helps to displace ~28 million metric tons of carbon dioxide annually, equivalent to 460 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 wasteresources

• 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 informationsecurity

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

20%

Contracted Merchant

95%

5%

74%

HydroFocused

Growing Global Footprint

ContractedCash Flows

6%

Based on long-term average generation, proportionate to BEP

North AmericaLatin America & AsiaEurope

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 AMERICA9,400 megawatts

$29 Billion in total power assets

SOUTH AMERICA4,800 megawatts

$11 Billion in total power assets

ASIA1,000 megawatts

$1 Billion in total power assets

EUROPE4,100 megawatts

$7 Billion in total power assets

14

Complementary Portfolio of High-Quality Assets

Uniquely complementary asset base spread across five technologies

Wind4,700 MW

Solar2,500 MW

DG800 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

16

Favourable Outlook in Our Core Markets

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

17

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, Spain, 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

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

LeverExpected Annual FFO Growth

Expected 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 millionTargeting 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 831 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 58 2020 1

Newen Brazil Solar 278 Q3 2021 3

Foz do Estrela Brazil Hydroelectric 30 Q2 2021 6

Bear Swamp (Unit Upgrade)

North America

Pumped Storage 66 Q2 2022 3

Millinocket North America Battery 20 Q4 2020 4

X-Elio North America North America Solar 230 Q3 2020 2

X-Elio Europe Spain Solar 135 Q3 2020 1

X-Elio Asia Japan Solar 14 Q2 2020 1

Total 831 $21

We are also advancing our global hydroelectric, wind, solar and distributed generation development pipeline, including 1,333 MW (524 MW net to Brookfield Renewable) of advanced stage projects through final permitting and securing a route-to-market, including re-powering projects in New York, California and Hawaii. Once commissioned they are expected to contribute over $46 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

Deployed $3.6 billion of BEP equity since 2014$billions

$0.0

$0.5

$1.0

$1.5

$2.0

Hydro Wind Solar OtherNorth America Latin America Europe Asia

21

Financial Profile

22

Robust Balance SheetProforma Debt

Maturity Ladder$billions, as at March 31, 2020BBB+

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 6% of our debt in North America and EU exposed to rising interest rates

9.5xDECONSOLIDATED INTEREST COVERAGE

18%DEBT TOCAPITALIZATION -CORPORATE

$0.0

$1.0

$2.0

$3.0

$4.0

$5.0

2020 2021 2022 2023 2024 AfterNon-Recourse Maturities Recourse Maturities

Figures and table are as at March 31st pro forma the re-opening of our Series 11 and 12 MTNs in April.

23

Access to Deep Pool of Capital

Significant Liquidity Partner Capital

Diversified Access to Capital Markets

Track Record of Capital Recycling

We currently have ~$3 billion1 of available liquidity

We have access to ~$4.4 billion of partner capital to invest alongside

We have raised ~$3.5 billion1 in corporate debt and equity (preferred

and common) since 2015

Raised ~$1.2 billion in proceeds in the last two years through opportunistic capital recycling

Multiple Funding Levers

1) Available liquidity and corporate financings are adjusted to reflect the issuance of C$175 million of Series 11 ($124 million) and C$175 million of Series 12 ($124 million) medium term notes on April 3, 2020.

24

Key Takeaways

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%1 annualized returns to unitholders

1) Based on the closing price on March 31, 2020, pro forma the TerraForm Power transaction.

25

Contacts

Contact Title Email

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

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

Cara Silverman Manager, Investor Relations cara.silverman@brookfield.com

26

Appendix

27

Indicative Corporate Structure

1) BAM ownership figures as of March 31, 2020.2) Economic ownership interest on a fully diluted basis.3) Portfolios of fixed income and equity securities managed on behalf of clients.4) Includes Oaktree and other alternative investments. Oaktree also has real estate and infrastructure products.5) On a fully exchanged basis.

Brookfield Asset Management(NYSE:BAM)

Infrastructure

Real Estate

Real Estate

Real Estate

Brookfield Property Partners

(NASDAQ: BPY)51%2

Sustainable Resources

Renewable Power

Brookfield Renewable

Partners(NYSE: BEP)

61%5

Infrastructure

Infrastructure

Brookfield Infrastructure

Partners(NYSE: BIP)

30%

Real Asset Credit

Private Equity

Private Equity

Brookfield Business Partners(NYSE: BBU)

63%

Credit

Credit4

Credit

Oaktree

(Private 61%)

PUBLIC SECURITIES3

BUSINESSES

PRIVATE FUNDS

AFFILIATES1

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 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

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 CleanTechnology Index.

Since 2017, BEP has issued four green bonds through project-level financings for an aggregatevalue of over $1.6 billion. Citing BEP's environmental stewardship, commitment to renewablepower, and use of proceeds towards renewable power generation, the green bonds received E-1Green Evaluation scores from S&P - the highest on its scale.

BEP issued three corporate-level green bonds to date – C$300 million in 2018, C$600 million in2019 and C$350 million in 2020 and a $200 million perpetual preferred unit issuance in 2020 –under its Green Bond and Preferred Secuirites Framework with proceeds to be used to financeand/or refinance investments in renewable power generation and to support the development ofclean energy technologies. A third-party opinion from Sustainalytics deemed the Framework to becredible 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.

31

-

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 57TWh of clean energy annually, displacing ~28 million metric tons of carbon dioxide emissions annually‒ Equivalent to 460 million

trees planted

Mill

ion

Tonn

es o

f CO

2 E

quiv

alen

t 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)