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B R O O K F I E L D . C O M 2 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Supplemental Information 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 Supplemental Information include, but are not limited to, statements regarding the quality of Brookfield Renewable’s assets and the resiliency of the cash flow they will generate, our anticipated financial performance, future commissioning of assets, contracted portfolio, technology diversification, acquisition opportunities, expected completion of acquisitions, dispositions and other transactions, future energy prices and demand for electricity, economic recovery, achieving long-term average generation, project development and capital expenditure costs, energy policies, economic growth, growth potential of the renewable asset class, reorganizations or other structural simplification transactions including our corporate simplification, our future growth prospects and distribution profile, our access to capital and future dividends and distributions made to holders of LP units and BEPC's exchangeable shares. 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”, “endeavors”, “pursues”, “strives”, “seeks”, “targets”, 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. These forward-looking statements and information are not historical facts but reflect our current expectations regarding future results or events and are based on information currently available to us and on assumptions we believe are reasonable. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information in this report 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 assumptions 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. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and result of operations and our plans and strategies may vary materially from those expressed in the forward-looking statements and forward-looking information herein. 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: general economic conditions and risks relating to the economy, including unfavorable changes in interest rates, foreign exchange rates, inflation and volatility in the financial markets; changes to resource availability, as a result of climate change or otherwise, at any of our renewable power facilities; political instability or changes in government policy (including changes resulting from the new U.S. federal administration) negatively impacting our business or assets, including changes to government policies and incentives relating to the renewable power and sustainable solutions industries; supply and demand, volatility and marketing in the energy markets; our inability to re-negotiate or replace expiring contracts (including PPAs, power guarantee agreements or similar long-term agreements, between a seller and a buyer of electrical power generation) on similar terms; an increase in the amount of uncontracted generation in our renewable power portfolio or a change in the contract profile for future renewable power projects; availability and access to interconnection facilities and transmission systems; our ability to comply with, secure, replace or renew concessions, licenses, permits and other governmental approvals needed for our operating and development projects; our real property rights for our 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 facilities and of developing new projects; equipment failures and procurement challenges; increased regulation of and third party opposition to our nuclear services business’s customers and operations; failure of the nuclear power industry to expand; insufficient indemnification for our nuclear services business; our reliance on computerized business systems, which could expose us to cyber-attacks; dam failures and the costs and potential liabilities associated with such failures; uninsurable losses and higher insurance premiums; changes in regulatory, political, economic and social conditions in the jurisdictions in which we operate; force majeure events; health, safety, security and environmental risks; energy marketing risks and our ability to manage commodity and financial risk; the termination of, or a change to, the MRE balancing pool in Brazil; involvement in litigation and other disputes, and governmental and regulatory investigations; counterparties to our contracts not fulfilling their obligations; the time and expense of enforcing contracts against non- performing counterparties and the uncertainty of success; foreign laws or regulation to which we become subject as a result of future acquisitions in new markets; our operations being affected by local communities; newly developed technologies or new business lines in which we invest not performing as anticipated; advances in technology that impair or eliminate the competitive advantage of our projects; increases in water rental costs (or similar fees) or changes to the regulation of water supply; labour disruptions and economically unfavorable collective bargaining agreements; our inability to finance our operations and fund growth due to the status of the capital markets or our ability to complete capital recycling initiatives; operating and financial restrictions imposed on us by our loan, debt and security agreements; changes to our credit ratings; the incurrence of debt at multiple levels within our organizational structure; restrictions on our ability to engage in certain activities or make distributions due to our indebtedness; adverse changes in currency exchange rates and our inability to effectively manage foreign currency exposure through our hedging strategy or otherwise; our inability to identify sufficient investment opportunities and complete transactions and strategic initiatives including our corporate simplification transaction; changes to our current business, including through future sustainable solutions investments; the growth of our portfolio and our inability to realize the expected benefits of our transactions, initiatives or acquisitions; our inability to develop the projects in our development pipeline; delays, cost overruns and other problems associated with the construction and operation of our facilities and risks associated with the arrangements we enter into with communities and joint venture partners; we do not have control over all of our operations or investments, including certain investments made through joint ventures, partnerships, consortiums or structured arrangements; some of our acquisitions may be of distressed companies, which may subject us to increased risks; a decline in the value of our investments in securities, including publicly traded securities of other companies; the separation of economic interest from control within our organizational structure; our dependence on Brookfield and Brookfield’s significant influence over us; Brookfield’s election not to source acquisition opportunities for us and our lack of access to all renewable power acquisitions that Brookfield identifies, including by reason of conflicts of interest; the departure of some or all of Brookfield’s key professionals; Brookfield acting in a way that is not in our best interests or the best interests of our shareholders or our unitholders; our inability to terminate the Master Services Agreement and the limited liability of the Service Provider under our arrangements with them; Brookfield’s relationship with Oaktree; changes in how Brookfield elects to hold its ownership interests in Brookfield Renewable; changes in the amount of cash we can distribute to our unitholders; future sales and issuances of our securities will result in dilution of existing holders and even the perception of such sales or issuances taking place could depress the trading price of the LP units or BEPC exchangeable shares; changes in tax law and practice; adverse impacts of inflationary pressures; foreign currency risk associated with our distributions; fraud, bribery, corruption, other illegal acts or inadequate or failed internal processes or systems and restrictions on foreign direct investment; increased regulation of our operations; we are not subject to the same disclosure requirements as a U.S. domestic issuer; changes in our credit ratings; new regulatory initiatives related to sustainability and ESG; human rights impacts of our business activities; being deemed an “investment company” under the Investment Company Act of 1940; the effectiveness of our internal controls over financial reporting; broader impact of climate change; failure of our systems technology; any changes in the market price of the LP units and BEPC exchangeable shares; and other factors described in our most recent Annual Report on Form 20-F, including those set forth under Item 3.D “Risk Factors”. Certain risks and uncertainties specific to our corporate simplification transaction is further described in the joint management information circular of BEP and BEPC dated August 26, 2026 with respect to the special meetings of BEP and BEPC to approve the simplification and is available electronically on each of the SEDAR+ profiles of BEP and BEPC at www.sedarplus.ca. 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 Supplemental Information 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 most recent Annual Report on Form 20-F and other risks and factors that are described therein. CAUTIONARY STATEMENT REGARDING USE OF NON-IFRS MEASURES This Supplemental Information contains references to Adjusted EBITDA, Funds From Operations (“FFO"), FFO per Unit, Normalized FFO and Normalized FFO per Unit (collectively, “Brookfield Renewable’s Non-IFRS Measures”) which are not generally accepted accounting measures standardized under IFRS and therefore may differ from definitions of proportionate Adjusted EBITDA, FFO, FFO per Unit, Normalized FFO and Normalized FFO per Unit used by other entities. We believe that Brookfield Renewable’s Non-IFRS Measures are useful supplemental measures that may assist investors in assessing our financial performance. Brookfield Renewable’s Non-IFRS Measures should not be considered as the sole measures 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 Adjusted EBITDA, FFO and FFO per Unit to the most directly comparable IFRS measure or financial data, please see “Appendix 1 – Reconciliation of Non-IFRS Measures”. 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.
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B R O O K F I E L D . C O M 3 FOR THE PERIODS ENDED SEPTEMBER 30 Three Months Ended Twelve Months Ended (MILLIONS, EXCEPT AS NOTED) 2026 2025 2026 2025 Selected Financial Information Revenues $ 1,780 $ 1,596 $ 6,543 $ 6,300 Net loss attributable to Unitholders (314) (120) (346) (438) Proportionate Adjusted EBITDA(1) 753 629 3,084 2,572 FFO(1) 346 302 1,488 1,292 Normalized FFO(1)(2) 395 356 1,627 1,390 Per Share Net loss per LP unit(4) (0.52) (0.23) (0.75) (0.87) FFO per unit(1)(3) 0.51 0.46 2.18 1.95 Normalized FFO per unit(1)(2)(3) 0.58 0.54 2.39 2.09 Distributions per LP unit(4) 0.39 0.37 1.55 1.47 Operational Information Capacity (MW) 51,405 48,673 51,405 48,673 Total generation (GWh) Long-term average generation 29,375 29,779 123,352 116,484 Actual generation 27,957 27,554 117,213 107,468 Proportionate generation (GWh) Actual Renewable generation 7,196 7,186 33,215 32,266 Q3 2026 Highlights $346M FUNDS FROM OPERATIONS 11% FFO PER UNIT INCREASE PERFORMANCE HIGHLIGHTS • Delivered FFO of $346 million or $0.51 on a per Unit basis, representing an 11% increase from the prior year driven by: – Contributions from our diverse, global fleet with embedded growth from our contracted and inflation- linked cash flows; – Recent acquisitions, including Boralex and our increased stake in Isagen; – Continued growth from our scaling development activities, including approximately 9,000 MW of new development projects reaching commercial operation in the past 12 months; and – Gains on sales from our recurring and scaling capital recycling activities • In the last twelve months, we delivered FFO of $1,488 million or $2.18 on a per Unit basis, representing a 12% increase from the prior year period • Distributions of $0.392 per LP unit ( $1.57 annualized) represent an over 5% increase from the prior year • Maintained our best-in-class balance sheet with over $5.1 billion of available liquidity and access to multiple sources of capital, including a pipeline of asset recycling and upfinancing opportunities, no significant near-term maturities and minimal exposure to floating rates AS AT (MILLIONS, EXCEPT AS NOTED) September 30, 2026 December 31, 2025 Liquidity and Capital Resources Available liquidity $ 5,137 $ 4,625 Debt to capitalization – Corporate 17 % 14 % Debt to capitalization – Consolidated 42 % 39 % Non-recourse borrowings as a percentage of total borrowings 90 % 90 % Fixed rate debt exposure on a proportionate basis(5) 96 % 96 % Corporate borrowings term to maturity 13 Years 13 Years Non-recourse borrowings on a proportionate basis Average debt term to maturity 10 Years 10 Years Average interest rate 6 % 6 % Refer to endnotes on page 46 $5.1B AVAILABLE LIQUIDITY
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B R O O K F I E L D . C O M 4 LIQUIDITY AND CAPITAL RESOURCES (cont'd) • We continue to execute on our asset recycling program, completing or reaching agreements to sell asse ts since the end of the second quarter that will generate approximately $2.8 billion ( $850 million net to Brookfield Renewable) at strong returns, including: • We completed the sale of the final 25% interest in a U.S. hydro portfolio in Maine and closed the remaining one-third interest in a 2,100-megawatt portfolio of renewable assets sold to Northview Energy for combined proceeds of ~$660 million (~$230 million net to Brookfield Renewable) • Completing the sale of our investment in Avaada, one of our Indian platforms, for net proceeds of~ $570 million (~ $125 million net to Brookfield Renewable) • Our Colombian business completed or reached agreements to sell non-core or developed assets for ~$1.1 billion (~$420 million net to Brookfield Renewable): ◦ In September, we closed the sale of non-core operating hydro assets for proceeds of ~ $155 million (~ $60 million net to Brookfield Renewable); ◦ Also in September, we signed the sale of a portfolio of non-core hydro and solar assets for proceeds of ~ $550 million (~$205 million net to Brookfield Renewable) ◦ In October, we closed the sale of a portfolio of non-core hydro and solar assets for proceeds of ~$425 million (~$160 million net to Brookfield Renewable) • Subsequent to the quarter, Brookfield Renewable Corporation investors approved the proposed simplification of our structure. We continue to seek approval from at least two-thirds of Brookfield Renewable investors. Support from Brookfield Renewable unitholders has been overwhelmingly positive, with 99.7% of those who have voted approving the transaction and two leading proxy advisory firms recommending unitholders vote in favour of the simplification Q3 2026 Highlights (cont’d) OPERATIONS • Delivered strong results during the quarter as we benefited from our large, global fleet with embedded growth, diversified across geographies and technologies • Strengthened our position as the global partner of choice for the world’s largest buyers of power delivering differentiated energy solutions • During the quarter we secured contracts for ~4,200 MW of generation capacity, including ~1,600 MW of our advanced development pipeline • During the quarter the U.S. federal government announced a strategic framework agreement with the Republic of Korea and Westinghouse, which will provide up to $120 billion in investment to help finance the construction of eight large-scale nuclear reactors in the U.S. GROWTH AND DEVELOPMENT • We continue to execute on our growth priorities, investing or committing up to ~$3.0 billion (~ $700 million net to Brookfield Renewable) of capital, further enhancing and diversifying our cash flows • During the quarter, we completed the acquisition of Boralex, adding a high- quality renewable power platform with a significant operating portfolio and development pipeline in strategic markets • Subsequent to quarter-end, we completed the acquisition of Aypa, the largest standalone energy storage platform in North America • Commissioned approximately 5,600 MW and 9,000 MW of new utility-scale and distributed generation solar, wind and battery storage projects year to date and in the last twelve months, respectively, and expect to deliver ~10,000 MW of new projects per year in 2027 and ~11,000 MW starting in 2028 LIQUIDITY AND CAPITAL RESOURCES • We continue to strengthen our best-in-class balance sheet, maintaining our BBB+ investment-grade credit rating, while our access to diverse sources of capital remains a key differentiator for our franchise • Our financial position remains strong, with over $5.1 billion of available liquidity across our platform, providing substantial flexibility to deploy capital into growth opportunities • During the quarter, we closed C$750 million of green bonds across two tranches: C$400 million of 10-year notes at 4.95% and C$350 million of 5 ‑ y e a r n o t e s a t 4.26%
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B R O O K F I E L D . C O M 5 We are one of the largest publicly listed renewable power and sustainable solutions businesses in the world. We own and operate a diversified portfolio of over 50 GW of mature, renewable assets spanning hydro, utility-scale solar, wind, nuclear services, distributed generation and other sustainable solutions across 35 power markets in over 25 countries with an advanced stage development pipeline of over 80 GW. We allocate the free cash flows we generate and the capital we raise to create value for our unitholders. Over the long term, we are focused on delivering 12 to 15% annualized returns to unitholders. We aim to achieve this by growing the business organically and through accretive growth that will increase our FFO by 10%+ and our distributions by 5 to 9% on a per-unit basis each year. FFO represents the cash flows of Brookfield Renewable that are available for distribution to unitholders and is our primary performance metric. FFO is comprised of our proportionate share of operating earnings of our hydro, utility-scale solar, wind, distributed generation and sustainable solutions businesses. It also includes disposition gains on the sale of assets we develop or that are non-core as divesting of these assets often generates strong risk-adjusted returns and an accretive source of funding for growth and is a recurring, normal course activity for our business today. We create value for our unitholders in two ways. First, we leverage our scale, global reach and operational and development expertise to increase the cash flow and value of our business, which enables us to increase our cash dividends paid to unitholders. Second, we raise additional capital via asset recycling initiatives, upfinancing of our operating assets upon growing their cash flows and capital market issuances to deploy into accretive organic growth and M&A opportunities to further enhance the cash flow and value of Brookfield Renewable on a per unit basis over the long-term. The value of Brookfield Renewable is generally measured on a sum of the parts basis by applying a discounted cash flow analysis to each of our businesses. Brookfield Renewable
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B R O O K F I E L D . C O M 6 Our Business 6,904 power generating facilities ~35 power markets in 25 countries We are a global leader in decarbonization, with integrated operating platforms on five continents with operating, development and power marketing expertise ~$158 billion TOTAL POWER AND SUSTAINABLE SOLUTIONS ASSETS(6) ~51,400 MEGAWATTS OF TOTAL OPERATING CAPACITY Refer to endnotes on page 46
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B R O O K F I E L D . C O M 7 As at September 30, 2026 River Systems Facilities Capacity (MW) LTA(7) (GWh) Storage Capacity (GWh) Hydroelectric North America(8) United States 24 142 2,527 10,137 2,551 Canada 29 42 1,469 5,623 1,261 53 184 3,996 15,760 3,812 Colombia(9) 10 29 3,334 16,386 3,703 Brazil 24 36 850 4,309 — 87 249 8,180 36,455 7,515 Wind(10) North America — 84 8,820 26,485 — Europe — 175 6,697 20,720 — Brazil — 37 890 3,909 — Asia-Pacific — 82 3,765 9,646 — — 378 20,172 60,760 — Utility-scale solar(11) — 270 14,349 25,547 — Distributed energy & storage(12)(13) 1 5,959 6,429 3,116 1,436 Total Renewable Power Portfolio 88 6,856 49,130 125,878 8,951 Our Operations The table below outlines our renewable power portfolio as at September 30, 2026: Refer to endnotes on page 46
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B R O O K F I E L D . C O M 8 45% 23% 15% 9% 8% 58% 16% 22% 4%(1) Figures based on FFO for the last twelve months, proportionate to Brookfield Renewable, adjusted to long-term average generation and excluding other income. Diversified, stable and inflation-linked cash flows FFO by Region (proportionate basis)1 FFO by Technology (proportionate basis)1 Weighted to developed markets and the most mature , de-risked, lowest-cost renewable technologies and clean energy solutions ~90% of generation on a proportionate basis is contracted for an average term of 12 years ~70% of revenues are indexed to inflation +90% of FFO from clean power generation derived from low-cost, mature technologies ~75% of FFO from developed markets
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B R O O K F I E L D . C O M 9 $0.74 $1.57 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Strong Track Record of Growth Over the past 10+ years we have consistently delivered FFO growth driven by our diverse, global business. Our durable cash flow growth has underpinned sustained distribution growth and supported continued progress to lower our payout ratio. 6% Distributions per Unit CAGR 10% FFO per Unit CAGR
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B R O O K F I E L D . C O M 10 Our FFO payout ratio for the year ended December 31, 2025 was 77%. We continue to benefit from an investment grade balance sheet, robust liquidity, strong debt maturity profile, access to multiple funding levers and a growth strategy that allows us to retain control on capital spending. These attributes, combined with our contracted, inflation linked cash flows, derisked development pipeline, margin enhancement opportunities and M&A capabilities, afford us the flexibility to lower our payout ratio to our long-term target of 70% patiently over the medium-term. The following table reflects our FFO payout ratio since 2019, with 2019 being the first year in which normalized FFO was disclosed by our business: Distribution Payout Ratio Refer to endnotes on page 46 (MILLIONS, EXCEPT AS NOTED) 2019 2020 2021 2022 2023 2024 2025 Normalized FFO(1) $ 725 $ 882 $ 1,098 $ 1,091 $ 1,242 $ 1,369 $ 1,489 Distributions(14) 684 769 854 915 990 1,061 1,143 FFO payout ratio 94 % 87 % 78 % 84 % 80 % 78 % 77 %
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Operating Segments
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B R O O K F I E L D . C O M 12 Financial Results for the Three Months Ended September 30 For each operating segment, this Supplemental Information outlines Brookfield Renewable’s proportionate share of results in order to demonstrate the impact of key value drivers of each operating segment on the partnership’s overall performance. (GWh) (MILLIONS) Renewable Actual Generation Renewable LTA Generation Revenues Adjusted EBITDA(1) Funds From Operations(1) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Hydroelectric 3,765 3,577 4,826 4,341 $ 491 $ 345 $ 375 $ 205 $ 214 $ 119 Wind 1,752 1,668 1,932 1,970 128 116 95 89 56 47 Utility-scale solar 1,368 1,522 1,600 1,832 146 174 225 172 187 130 Distributed energy & storage 311 419 187 386 48 68 41 101 31 89 Sustainable solutions — — — — 155 123 29 47 23 38 Corporate — — — — — — (12) 15 (165) (121) Total 7,196 7,186 8,545 8,529 $ 968 $ 826 $ 753 $ 629 $ 346 $ 302 (1) Non-IFRS measures. For reconciliations to the most directly comparable IFRS measure see “Reconciliation of Non-IFRS Measures” and “Cautionary Statement Regarding Use of Non-IFRS Measures”.
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B R O O K F I E L D . C O M 13 For each operating segment, this Supplemental Information outlines Brookfield Renewable’s proportionate share of results in order to demonstrate the impact of key value drivers of each operating segment on the partnership’s overall performance. (1) Non-IFRS measures. For reconciliations to the most directly comparable financial data see “Reconciliation of Non-IFRS Measures” and “Cautionary Statement Regarding Use of Non-IFRS Measures”. Financial Results for the Twelve Months Ended September 30 (GWh) (MILLIONS) Renewable Actual Generation Renewable LTA Generation Revenues Adjusted EBITDA(1) Funds From Operations(1) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Hydroelectric 18,986 17,820 21,882 19,732 $ 1,911 $ 1,528 $ 1,460 $ 946 $ 880 $ 573 Wind 8,374 8,471 9,396 9,533 598 599 483 609 311 431 Utility-scale solar 4,728 4,548 5,588 5,436 453 454 630 501 481 363 Distributed energy & storage 1,127 1,427 754 1,262 209 238 349 317 305 270 Sustainable solutions — — — — 639 575 166 201 134 162 Corporate — — — — — — (4) (2) (623) (507) Total 33,215 32,266 37,620 35,963 $ 3,810 $ 3,394 $ 3,084 $ 2,572 $ 1,488 $ 1,292
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B R O O K F I E L D . C O M 14 Segment Overview • ~8.2 GW of operating capacity across North and South America • Generates baseload, dispatchable power that enhances grid reliability • Robust storage capabilities enabling system balancing across seasons and market cycles • Perpetual asset class with minimal degradation • Generates multiple revenue streams for our business given the inherent characteristics of the assets Objectives • Grow Adjusted EBITDA via inflation indexed cash flows, optimization of operations and execution of commercial initiatives • Crystallize value through opportunistic upfinancings • Divest non-core operating assets at premium valuations • Redeploy capital into accretive opportunities across all segments of our business Hydroelectric Operations The following table presents our proportionate results for the three and twelve months ended September 30: Three Months Ended Twelve Months Ended (MILLIONS, EXCEPT AS NOTED) 2026 2025 2026 2025 Revenue $ 491 $ 345 $ 1,911 $ 1,528 Other income 194 21 506 68 Direct operating costs (310) (161) (957) (650) Adjusted EBITDA(1) 375 205 1,460 946 Interest expense (152) (85) (539) (351) Current income taxes (9) (1) (41) (22) Funds From Operations $ 214 $ 119 $ 880 $ 573 Generation (GWh) – LTA 4,826 4,341 21,882 19,732 Generation (GWh) – actual 3,765 3,577 18,986 17,820 Average revenue per MWh(15) $ 77 $ 75 $ 74 $ 72 Refer to endnotes on page 46 Proportionate Results by Geography Three months ended September 30: Actual Generation (GWh) Average Revenue per MWh 2026 2025 2026 2025 North America 1,798 1,907 $ 73 $ 80 Brazil 909 767 61 63 Colombia 1,058 903 99 73 Total 3,765 3,577 $ 77 $ 75 FINANCIAL RESULTS • Adjusted EBITDA and FFO across our hydroelectric business totaled $375 million and $214 million, respectively, versus $205 million and $119 million, respectively, in the prior year • Adjusted EBITDA and FFO benefited from higher generation in Brazil, higher spot pricing in Colombia caused by lower system-wide hydrology and gains on the sale of non-core assets in the U.S. and Colombia • Results were partially offset by weaker same-store generation in Canada and Colombia and higher interest expense from our upfinancing activities across the fleet over the past year
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B R O O K F I E L D . C O M 15 Segment Overview • ~20 GW of onshore operating capacity in North America, Europe, South America and the Asia Pacific region and a ~26 GW advanced stage development pipeline • Cost-competitive and highly complementary generation technology, with wind amongst the lowest-cost, fastest to market sources of bulk new-build electricity • Highly scalable technology that can be deployed in most regions, enabling capital-efficient expansion across high- growth markets Objectives • Increase cash generation of operating assets via inflation indexed cash flows, optimization of operations and execution of commercial initiatives • Execute development of our project pipeline in a disciplined manner • Crystallize value creation through opportunistic divestment of assets and asset-level upfinancings Wind Operations FINANCIAL RESULTS • FFO at our wind operations was $56 million versus $47 million in the prior year due to the benefit of newly acquired and commissioned facilities, including our investment in Boralex, and higher same-store generation, partially offset by the impact of assets sold over the last year Three Months Ended Twelve Months Ended (MILLIONS, EXCEPT AS NOTED) 2026 2025 2026 2025 Revenue $ 128 $ 116 $ 598 $ 599 Other income 27 29 135 247 Direct operating costs (60) (56) (250) (237) Adjusted EBITDA(1) 95 89 483 609 Interest expense (31) (39) (148) (155) Current income taxes (8) (3) (24) (23) Funds From Operations $ 56 $ 47 $ 311 $ 431 Generation (GWh) – LTA 1,932 1,970 9,396 9,533 Generation (GWh) – actual 1,752 1,668 8,374 8,471 The following table presents the proportionate results for the three and twelve months ended September 30: Refer to endnotes on page 46
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B R O O K F I E L D . C O M 16 Segment Overview • ~14 GW of operating capacity predominantly in North America, Europe, Brazil and the Asia Pacific region and a ~38 GW advanced stage development pipeline • Cost-competitive technology, with utility scale solar amongst the lowest-cost sources of bulk new-build electricity • Fast time-to-market, with accelerated build-out that drives rapid and efficient capital deployment • Highly scalable technology that can be deployed in most regions, enabling capital-efficient expansion across high- growth markets Objectives • Increase cash generation of operating assets via inflation indexed cash flows, optimization of operations and execution of commercial initiatives • Execute development of our project pipeline in a disciplined manner • Crystallize value creation through opportunistic divestment of assets and asset-level upfinancings Utility-Scale Solar Operations Three Months Ended Twelve Months Ended (MILLIONS, EXCEPT AS NOTED) 2026 2025 2026 2025 Revenue $ 146 $ 174 $ 453 $ 454 Other income 111 35 320 195 Direct operating costs (32) (37) (143) (148) Adjusted EBITDA(1) 225 172 630 501 Interest expense (33) (38) (130) (129) Current income taxes (5) (4) (19) (9) Funds From Operations $ 187 $ 130 $ 481 $ 363 Generation (GWh) – LTA 1,600 1,832 5,588 5,436 Generation (GWh) – actual 1,368 1,522 4,728 4,548 The following table presents the proportionate results for the three and twelve months ended September 30: FINANCIAL RESULTS • FFO at our utility-scale solar business was $187 million versus $130 million in the prior year due to the benefit of newly acquired and commissioned facilities, the gain on the partial sale of a U.S. solar portfolio and higher same-store generation, partially offset by lower contribution from assets sold over the last twelve months Refer to endnotes on page 46
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B R O O K F I E L D . C O M 17 Segment Overview • ~6.4 GW of operating capacity across distributed solar and storage, predominantly in North America, China and Europe, and a ~22 GW advanced stage development pipeline • ~700 MW of strategic hydroelectric pumped storage providing a scale, perpetual storage solution with minimal degradation delivering dispatchable power and grid reliability services • Expanding battery energy storage solutions capabilities and operating fleet that provides enhanced reliability and supports higher renewables penetration Objectives • Increase cash generation of operating assets via inflation indexed cash flows, optimization of operations and execution of commercial initiatives • Execute development of our project pipeline in a disciplined manner • Crystallize value creation through opportunistic divestment of assets and asset-level upfinancings Distributed Energy & Storage Operations FINANCIAL RESULTS • FFO at our Distributed energy and storage business was $31 million versus $89 million in the prior year as the benefit of newly acquired and commissioned facilities was offset by the impact from the majority sale of a distributed generation platform in the U.S. that reduced results compared to prior year The following table presents the proportionate results for the three and twelve months ended September 30: Refer to endnotes on page 46 Three Months Ended Twelve Months Ended (MILLIONS, EXCEPT AS NOTED) 2026 2025 2026 2025 Revenue $ 48 $ 68 $ 209 $ 238 Other income 16 57 251 169 Direct operating costs (23) (24) (111) (90) Adjusted EBITDA(1) 41 101 349 317 Interest expense (9) (11) (40) (42) Current income taxes (1) (1) (4) (5) Funds From Operations $ 31 $ 89 $ 305 $ 270 Generation (GWh) – LTA 187 386 754 1,262 Generation (GWh) – actual 311 419 1,127 1,427
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B R O O K F I E L D . C O M 18 Segment Overview Technologies that help enable the decarbonization of hard-to- abate sectors and support the circular economy, spanning investments in power transformation and sustainable solutions including: • Nuclear services • Carbon capture • Renewable natural gas • eFuels • Recycling Objectives • Grow cash flows by scaling Westinghouse’s Operating Plants business, providing essential nuclear fuel products, engineered equipment and plant services to the global installed base of operating reactors. Support the development of new reactors through Westinghouse's New Plants business, providing design, engineering, licensing and procurement services, creating future recurring revenue opportunities and delivering upside to our underwriting • Generate stable returns from structured financial investments into sustainable solutions technologies with potential to capture upside through further investment and growth in these businesses Sustainable Solutions Operations FINANCIAL RESULTS • FFO at our sustainable solutions business was $23 million versus $38 million in the prior year as stronger results at Westinghouse, driven by higher fuel volumes in its Operating Plants business, were more than offset by commercial initiatives that benefited the prior year Three Months Ended Twelve Months Ended (MILLIONS, EXCEPT AS NOTED) 2026 2025 2026 2025 Revenue $ 155 $ 123 $ 639 $ 575 Other income 6 21 47 64 Direct operating costs (132) (97) (520) (438) Adjusted EBITDA(1) 29 47 166 201 Interest expense (6) (8) (30) (32) Current income taxes — (1) (2) (7) Funds From Operations $ 23 $ 38 $ 134 $ 162 The following table presents the proportionate results for the three and twelve months ended September 30: Refer to endnotes on page 46
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B R O O K F I E L D . C O M 19 Corporate Three Months Ended Twelve Months Ended (MILLIONS, EXCEPT AS NOTED) 2026 2025 2026 2025 Other income $ — $ 24 $ 44 $ 38 Direct operating costs (12) (9) (48) (40) Adjusted EBITDA(1) (12) 15 (4) (2) Management service costs (63) (57) (274) (209) Interest expense (64) (52) (240) (191) Preferred Distributions(16) (26) (27) (103) (104) Current income taxes — — (2) (1) Funds From Operations $ (165) $ (121) $ (623) $ (507) The following table presents results for the three and twelve months ended September 30:Financial Results • General and administrative costs were consistent with prior year • We pay Brookfield Asset Management an annual base management fee of $20 million (adjusted annually for inflation) plus 1.25% of our market value, plus recourse debt net of cash and financial assets, in exchange for management services provided to the organization • Financing costs include interest expense and standby fees on our committed credit facility, less interest earned on cash balances • Interest expense was $64 million versus $52 million in the prior year due to additional financing costs to facilitate growth activities • Other income includes interest and dividend income, as well as realized gains or losses earned on corporate financial assets and realized gains or losses on corporate initiatives
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B R O O K F I E L D . C O M 20 We operate with sufficient liquidity to enable us to fund our growth initiatives, capital expenditures, distributions or other expenditures and withstand sudden adverse changes in economic circumstances or short-term fluctuations in generation. Our principal sources of liquidity are cash flows from operations, our credit facilities, upfinancings on non-recourse borrowings, proceeds from recycling activities and proceeds from the issuance of securities and notes through public markets. The following table summarizes our available liquidity: Available Liquidity (MILLIONS) September 30, 2026 December 31, 2025 Corporate credit facilities Authorized credit facilities $ 2,450 $ 2,450 Draws on credit facilities — — Authorized letter of credit facilities 450 450 Issued letters of credit (410) (414) Available portion of corporate credit facilities 2,490 2,486 Brookfield Renewable's share of cash and cash equivalents 863 963 Investments in marketable securities 153 159 Available portion of subsidiary credit facilities on a proportionate basis 1,631 1,017 Available group-wide liquidity $ 5,137 $ 4,625
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B R O O K F I E L D . C O M 21 Borrowings We remain focused on refinancing near-term facilities and maintaining a manageable maturity ladder. Since 2021, we have generated over $2.5 billion (~$500 million on average per year) of proceeds from upfinancings completed on an investment grade basis. The average duration of the debt at our wind and utility-scale solar businesses is 8 years. The long-term sustainable debt amortization on a straight-line basis of our wind and utility-scale solar businesses over their useful lives is $58 million and $64 million, respectively. The following table summarizes our undiscounted principal and scheduled amortization repayments on a proportionate basis: (MILLIONS) Rest of 2026 2027 2028 2029 2030 Thereafter Total(44) Principal repayments(17) Medium-term notes(18) $ — $ 351 $ — $ 334 $ 334 $ 2,933 $ 3,952 Hybrid notes(18) — — — — — 317 317 Non-recourse borrowings Hydroelectric 2 412 191 834 978 1,765 4,182 Wind 1 95 224 195 253 92 860 Utility-scale solar 126 78 223 271 256 180 1,134 Distributed energy & storage 8 14 3 48 16 95 184 Sustainable solutions — — — — — 332 332 137 599 641 1,348 1,503 2,464 6,692 Amortization Non-recourse borrowings Hydroelectric 42 177 241 187 198 1,502 2,347 Wind 56 213 172 173 179 1,048 1,841 Utility-scale solar 70 252 175 166 164 1,196 2,023 Distributed energy & storage 3 11 7 12 6 87 126 Sustainable solutions 2 7 7 7 7 43 73 173 660 602 545 554 3,876 6,410 Total $ 310 $ 1,610 $ 1,243 $ 2,227 $ 2,391 $ 9,590 17,371 Less: Brookfield Renewable's share of cash and cash equivalents (863) Proportionate Net Debt(19) $ 16,508 Refer to endnotes on page 46
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B R O O K F I E L D . C O M 22 Capitalization A key element of our financing strategy is to raise the majority of our debt in the form of asset-specific, non-recourse borrowings at our subsidiaries on an investment-grade basis with no maintenance covenants. Substantially all of our debt is either investment grade rated or sized to investment grade and approximately 90% of debt is at the project level. The following table summarizes our capitalization to assist users in understanding and evaluating the partnership's capital structure: (1) Includes 194.49 million of Redeemable/Exchangeable partnership units (2025: 194.49 million) and GP interest 3.98 million (2025: 3.98 million) (2) Includes 148.27 million of BEPC exchangeable shares (2025: 144.89 million) and 34.72 million of Class A.2 exchangeable shares (2025: 34.72 million) (3) 28% based on carrying value (2025: 25%) (4) 47% based on carrying value (2025: 44%) AS AT (MILLIONS, EXCEPT AS NOTED) September 30, 2026 December 31, 2025 Partnership units outstanding, end of period(1) 501.25 504.45 Price $ 28.14 $ 26.97 Partnership Market Capitalization $ 14,105 $ 13,605 BEPC exchangeable shares and Class A.2 exchangeable shares(2) 182.99 179.60 Price $ 28.22 $ 38.34 BEPC Market Capitalization $ 5,164 $ 6,886 Combined Market Capitalization $ 19,269 $ 20,491 Preferred equity 544 563 Preferred LP equity 647 634 Perpetual subordinated debt 737 737 Proportionate net debt 16,508 15,624 Enterprise Value (EV) $ 37,705 $ 38,049 Long-term corporate debt-to-total capitalization (based on market value)(3) 17 % 14 % Consolidated debt-to-total capitalization (based on market value)(4) 42 % 39 %
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B R O O K F I E L D . C O M 23 Capital Recycling US$ Millions, unaudited(1) 2021 2022 2023 2024 2025 Total Proceeds on sale(2) $ 1,031 $ 601 $ 754 $ 1,821 $ 3,592 $ 7,799 Carrying value(3) 587 322 327 1,040 2,519 4,795 Gains on sale(4) $ 444 $ 279 $ 427 $ 781 $ 1,073 $ 3,004 (1) Includes investments we own or have an economic interest, including consolidated subsidiaries, equity-accounted investments, assets held through equity-accounted investments and financial assets on a 100% basis (2) Excludes transaction costs (3) Carrying value is based on acquisition cost or total capital expenditure less accumulated depreciation for wind, solar, distributed energy and other finite life assets and based on acquisition cost or total capital expenditure for hydroelectric and other perpetual life assets (4) Includes gains recognized in other income and directly in equity Capital recycling is an integral part of our capital deployment strategy, enabling us to redeploy proceeds from de-risked operating assets into higher-returning growth opportunities. We have a long and consistent track record of executing asset sales across market cycles, and in recent years we have seen an acceleration in activity aligned with the expansion of our development pipeline and deployment targets. Over the last 5 years, we have completed over 40 transactions for ~$8 billion in proceeds. We expect continued growth in asset sales volumes over the next five years.
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B R O O K F I E L D . C O M 24 Development Profile by Technology The following table summarizes the 5,566 MW and 9,023 MW of assets that reached commercial operations in the last nine and twelve months, respectively, by technology: We expect to generate approximately ~$430 million of annualized FFO from our recently developed, under-construction, construction-ready, and advanced stage development assets over the next three years, spanning a diversified portfolio of technologies. The following table summarizes the expected commissioning schedule of our renewable power and sustainable solutions development pipeline by technology: Technology Rest of 2026 2027 2028 Remaining Advanced Stage Total Advanced Stage Pipeline(1) Renewable Power Hydroelectric — — — 50 50 Wind 222 2,005 3,491 20,001 25,719 Utility-Scale Solar 598 4,704 4,217 28,204 37,723 Distributed Energy 207 872 543 7 1,629 Storage 2,165 2,719 2,290 13,425 20,599 Total (MW) 3,192 10,300 10,541 61,687 85,720 Total Annualized Expected FFO (net to BEP) Renewable Power $39 $128 $123 ~$690 ~$980 Sustainable Solutions(2) — 4 9 24 37 Total (millions) $39 $132 $132 ~$714 ~$1,017 (1) Advanced stage development includes projects where we have secured or agreed to secure the majority of the acreage needed to construct the project, launched studies or submitted all major discretionary permit applications and submitted grid connection applications to the relevant authorities or obtained preliminary grid connection (2) Including Material recycling, CCS, RNG, eFuels and other Year to date Last twelve months Technology Capacity Net Capacity Annualized Expected FFO (millions) Capacity Net Capacity Annualized Expected FFO (millions) Wind 516 74 $22 545 78 $22 Utility-Scale Solar 4,046 685 41 6,587 1,148 72 Distributed Energy 437 86 8 721 141 16 Storage 567 99 5 1,170 168 12 Total Renewable 5,566 MW 944 MW $76 9,023 MW 1,535 MW $122
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B R O O K F I E L D . C O M 25 Development Profile by Region The following table summarizes the 5,566 MW and 9,023 MW of assets that reached commercial operations in the last nine and twelve months, respectively, by region: The following table summarizes the expected commissioning schedule of our renewable power and sustainable solutions development pipeline by technology: Region Rest of 2026 2027 2028 Remaining Advanced Stage Total Advanced Stage Pipeline(1) Renewable Power North America 465 4,241 3,347 31,572 39,625 Europe 478 2,334 2,600 16,094 21,506 South America 78 151 14 51 294 Asia Pacific 2,171 3,574 4,580 13,970 24,295 Total (MW) 3,192 10,300 10,541 61,687 85,720 Total Annualized Expected FFO (net to BEP) $39 $132 $132 ~$714 ~$1,017 (1) Advanced stage development includes projects where we have secured or agreed to secure the majority of the acreage needed to construct the project, launched studies or submitted all major discretionary permit applications and submitted grid connection applications to the relevant authorities or obtained preliminary grid connection Year to date Last twelve months Region Capacity Net Capacity Annualized Expected FFO (millions) Capacity Net Capacity Annualized Expected FFO (millions) North America 1,378 274 $21 2,871 523 $44 Europe 954 152 36 1,199 183 32 South America 54 10 1 276 90 7 Asia Pacific 3,180 508 18 4,677 739 39 Total Renewable 5,566 MW 944 MW $76 9,023 MW 1,535 MW $122
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B R O O K F I E L D . C O M 26 The following table sets out our power contracts over the next five years for generation output in North America, Europe, and other countries in the Asia-Pacific on a proportionate basis, assuming long-term average generation. The table excludes the Brazil hydroelectric and Colombia portfolios, 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. In these countries we currently have a contracted profile of approximately 90% and 70%, respectively, of the long-term average and we would expect to maintain this going forward. Overall, our power portfolio has a weighted-average remaining contract duration of 12 years (on a proportionate basis). Contract Profile (GWh, except as noted) Rest of 2026 2027 2028 2029 2030 Contracted Hydroelectric(1) 2,425 10,674 10,478 10,490 10,639 Wind 2,471 9,029 8,632 8,280 8,011 Utility-scale solar 1,170 5,059 5,078 5,069 5,060 Distributed energy & storage 111 489 486 483 480 Sustainable solutions 13 58 55 43 29 6,190 25,309 24,729 24,365 24,219 Uncontracted 455 1,851 2,431 2,795 2,941 Long-term average on a proportionate basis 6,645 27,160 27,160 27,160 27,160 Non-controlling interests 20,375 79,651 79,651 79,651 79,651 Total long-term average 27,020 106,811 106,811 106,811 106,811 Contracted generation as a % of total generation on a proportionate basis 93 % 93 % 91 % 90 % 89 % Price per MWh – total generation on a proportionate basis $ 76 $ 77 $ 78 $ 79 $ 80 (1) Includes generation of 125 GWh for 2026 and 334 GWh for 2027 secured under financial contracts. Weighted-average remaining power contract durations on a proportionate basis North America 13 years Europe 17 years Brazil 10 years Colombia 5 years Other 15 years Economic exposure from our power contracts for 2026 Commercial and industrial users 33 % Power authorities 35 % Distribution companies 21 % Brookfield 11 %
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Appendix 1 – Reconciliation of Non-IFRS Measures
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B R O O K F I E L D . C O M 28 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to IFRS financial data for the three months ended September 30, 2026: Attributable to Unitholders Contribution from equity- accounted investments(43) Attributable to non-controlling interests and other(23) As per IFRS Financials UNAUDITED (MILLIONS) Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total Revenues $ 491 $ 128 $ 146 $ 48 $ 155 $ — $ 968 $ (228) $ 1,040 $ 1,780 Other income(22) 194 27 111 16 6 — 354 (6) (273) 75 Direct operating costs (310) (60) (32) (23) (132) (12) (569) 156 (600) (1,013) Share of Adjusted EBITDA from equity- accounted investments(20) — — — — — — — 78 — 78 Adjusted EBITDA 375 95 225 41 29 (12) 753 — 167 Management service costs — — — — — (63) (63) — — (63) Interest expense (152) (31) (33) (9) (6) (64) (295) 24 (436) (707) Current income taxes (9) (8) (5) (1) — — (23) 4 (61) (80) Distributions attributable to Preferred limited partners equity — — — — — (9) (9) — — (9) Preferred equity — — — — — (7) (7) — — (7) Perpetual subordinated notes — — — — — (10) (10) — — (10) Share of interest and cash taxes from equity-accounted investments(20) — — — — — — — (28) — (28) Share of Funds From Operations attributable to non-controlling interests(20) — — — — — — — — 330 330 Funds From Operations 214 56 187 31 23 (165) 346 — — Depreciation (587) Foreign exchange and financial instruments gain 597 Deferred income tax recovery 84 Other (436) Share of losses from equity-accounted investments(20) (60) Net loss attributable to non-controlling interests(20) (258) Net loss attributable to Unitholders(21) $ (314) Segment Reconciliation on a Proportionate Basis – Three Months Ended September 30, 2026 Refer to endnotes on page 46
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B R O O K F I E L D . C O M 29 Attributable to Unitholders Contribution from equity- accounted investments Attributable to non-controlling interests and other(26) As per IFRS Financials UNAUDITED (MILLIONS) Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total Revenues $ 345 $ 116 $ 174 $ 68 $ 123 $ — $ 826 $ (208) $ 978 $ 1,596 Other income(25) 21 29 35 57 21 24 187 (32) 164 319 Direct operating costs (161) (56) (37) (24) (97) (9) (384) 127 (464) (721) Share of Adjusted EBITDA from equity- accounted investments(27) — — — — — — — 113 5 118 Adjusted EBITDA 205 89 172 101 47 15 629 — 683 Management service costs — — — — — (57) (57) — — (57) Interest expense (85) (39) (38) (11) (8) (52) (233) 27 (380) (586) Current income taxes (1) (3) (4) (1) (1) — (10) 2 8 — Distributions attributable to Preferred limited partners equity — — — — — (9) (9) — — (9) Preferred equity — — — — — (8) (8) — — (8) Perpetual subordinated notes — — — — — (10) (10) — — (10) Share of interest and cash taxes from equity-accounted investments(27) — — — — — — — (29) (5) (34) Share of Funds From Operations attributable to non-controlling interests(27) — — — — — — — — (306) (306) Funds From Operations 119 47 130 89 38 (121) 302 — — Depreciation (611) Foreign exchange and financial instruments gain 66 Deferred income tax recovery 66 Other (20) Share of losses from equity-accounted investments(27) (94) Net income attributable to non-controlling interests(27) 171 Net loss attributable to Unitholders(21) $ (120) Segment Reconciliation on a Proportionate Basis – Three Months Ended September 30, 2025 Refer to endnotes on page 46 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to financial data for the three months ended September 30, 2025:
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B R O O K F I E L D . C O M 30 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to financial data for the twelve months ended September 30, 2026: Attributable to Unitholders Contribution from equity- accounted investments(43) Attributable to non-controlling interests and other(38) Total UNAUDITED (MILLIONS) Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total Revenues $ 1,911 $ 598 $ 453 $ 209 $ 639 $ — $ 3,810 $ (954) $ 3,687 $ 6,543 Other income(37) 506 135 320 251 47 44 1,303 (134) 328 1,497 Direct operating costs (957) (250) (143) (111) (520) (48) (2,029) 623 (1,977) (3,383) Share of Adjusted EBITDA from equity- accounted investments(39) — — — — — — — 465 (15) 450 Adjusted EBITDA 1,460 483 630 349 166 (4) 3,084 — 2,023 Management service costs — — — — — (274) (274) — — (274) Interest expense (539) (148) (130) (40) (30) (240) (1,127) 81 (1,596) (2,642) Current income taxes (41) (24) (19) (4) (2) (2) (92) 11 227 146 Distributions attributable to Preferred limited partners equity — — — — — (32) (32) — — (32) Preferred equity — — — — — (31) (31) — — (31) Perpetual subordinated notes — — — — — (40) (40) — — (40) Share of interest and cash taxes from equity-accounted investments(39) — — — — — — — (92) 15 (77) Share of Funds From Operations attributable to non-controlling interests(39) — — — — — — — — (669) (669) Funds From Operations 880 311 481 305 134 (623) 1,488 — — Depreciation (2,315) Foreign exchange and financial instruments gain 1,685 Deferred income tax recovery 163 Other (1,713) Share of losses from equity-accounted investments(39) (344) Net loss attributable to non-controlling interests(39) 690 Net loss attributable to Unitholders(21) $ (346) Segment Reconciliation on a Proportionate Basis – Twelve Months Ended September 30, 2026 Refer to endnotes on page 46
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B R O O K F I E L D . C O M 31 The following table reflects Adjusted EBITDA and FFO and provides reconciliation to financial data for the twelve months ended September 30, 2025: Attributable to Unitholders Contribution from equity- accounted investments Attributable to non-controlling interests and other(41) Total UNAUDITED (MILLIONS) Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total Revenues $ 1,528 $ 599 $ 454 $ 238 $ 575 $ — $ 3,394 $ (915) $ 3,821 $ 6,300 Other income(40) 68 247 195 169 64 38 781 (151) 297 927 Direct operating costs (650) (237) (148) (90) (438) (40) (1,603) 576 (1,773) (2,800) Share of Adjusted EBITDA from equity- accounted investments(42) — — — — — — — 490 15 505 Adjusted EBITDA 946 609 501 317 201 (2) 2,572 — 2,360 Management service costs — — — — — (209) (209) — — (209) Interest expense (351) (155) (129) (42) (32) (191) (900) 97 (1,525) (2,328) Current income taxes (22) (23) (9) (5) (7) (1) (67) 16 274 223 Distributions attributable to Preferred limited partners equity — — — — — (34) (34) — — (34) Preferred equity — — — — — (30) (30) — — (30) Perpetual subordinated notes — — — — — (40) (40) — — (40) Share of interest and cash taxes from equity-accounted investments(42) — — — — — — — (113) (15) (128) Share of Funds From Operations attributable to non-controlling interests(42) — — — — — — — — (1,094) (1,094) Funds From Operations 573 431 363 270 162 (507) 1,292 — — Depreciation (2,280) Foreign exchange and financial instruments gain 1,028 Deferred income tax recovery 341 Other (879) Share of losses from equity-accounted investments(42) (478) Net loss attributable to non-controlling interests 538 Net loss attributable to Unitholders(21) $ (438) Segment Reconciliation on a Proportionate Basis – Twelve Months Ended September 30, 2025 Refer to endnotes on page 46
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B R O O K F I E L D . C O M 32 Attributable to Unitholders Contribution from equity- accounted investments Attributable to non-controlling interests As per IFRS financials(MILLIONS) Hydroelectric Wind Utility- scale solar Distributed energy & storage Sustainable solutions Corporate Total As at September 30, 2026 Cash and cash equivalents $ 299 $ 343 $ 67 $ 74 $ 57 $ 23 $ 863 $ (112) $ 1,906 $ 2,657 Property, plant and equipment 21,653 6,281 3,875 2,017 345 — 34,171 (2,666) 43,996 75,501 Total assets 24,237 8,355 5,536 2,650 3,592 138 44,508 (2,231) 63,067 105,344 Total liabilities 14,855 5,792 4,281 1,421 273 6,506 33,128 (2,231) 36,599 67,496 As at December 31, 2025 Cash and cash equivalents $ 265 $ 268 $ 169 $ 136 $ 40 $ 85 $ 963 $ (141) $ 1,271 $ 2,093 Property, plant and equipment 22,420 5,464 3,684 1,700 326 — 33,594 (2,503) 39,365 70,456 Total assets 24,484 7,545 6,041 2,576 1,801 169 42,616 (2,056) 58,141 98,701 Total liabilities 14,630 5,811 4,264 1,833 311 4,941 31,790 (2,056) 33,993 63,727 Segment Proportionate Balance Sheet Refer to endnotes on page 46
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B R O O K F I E L D . C O M 33 The following table reconciles the non-IFRS financial measures to the most directly comparable IFRS measures. Net income (loss) is reconciled to Adjusted EBITDA for the three months ended September 30, 2026: Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total UNAUDITED (MILLIONS) Net income (loss) .................................................................. $ (205) $ (149) $ (5) $ 52 $ 54 $ (107) $ (360) Add back or deduct the following: ........................................ Depreciation .......................................................................... 177 239 109 62 — — 587 Deferred income tax (recovery) expense ......................... (12) 15 (71) (4) 1 (13) (84) Foreign exchange and financial instrument loss (gain) . 70 (194) (326) (82) (37) (28) (597) Other(24) .................................................................................. 214 120 445 22 2 7 810 Management service costs ................................................. — — — — — 63 63 Interest expense ................................................................... 284 149 147 61 — 66 707 Current income tax expense .............................................. 4 5 59 12 — — 80 Amount attributable to equity accounted investments and non-controlling interests(29) ..................................... (157) (90) (133) (82) 9 — (453) Adjusted EBITDA attributable to Unitholders ...................... $ 375 $ 95 $ 225 $ 41 $ 29 $ (12) $ 753 Reconciliation of Non-IFRS Measures Refer to endnotes on page 46
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B R O O K F I E L D . C O M 34 Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total UNAUDITED (MILLIONS) Net income (loss) .................................................................. $ 54 $ (124) $ 76 $ 109 $ 43 $ (116) $ 42 Add back or deduct the following: ........................................ Depreciation .......................................................................... 164 218 143 75 11 — 611 Deferred income tax (recovery) expense ......................... (17) 75 (88) (28) — (8) (66) Foreign exchange and financial instrument loss (gain) 28 (15) 25 (71) (49) 16 (66) Other(24) .................................................................................. 2 (51) (66) 46 17 2 (50) Management service costs ................................................. — — — — — 57 57 Interest expense ................................................................... 180 136 144 61 1 64 586 Current income tax (recovery) expense .......................... (4) 1 11 (9) 1 — — Amount attributable to equity accounted investments and non-controlling interests(29) ..................................... (202) (151) (73) (82) 23 — (485) Adjusted EBITDA attributable to Unitholders ...................... $ 205 $ 89 $ 172 $ 101 $ 47 $ 15 $ 629 The following table reconciles the non-IFRS financial measures to the most directly comparable IFRS measures. Net income (loss) is reconciled to Adjusted EBITDA for the three months ended September 30, 2025: Reconciliation of Non-IFRS Measures (cont'd) Refer to endnotes on page 46
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B R O O K F I E L D . C O M 35 The following table reconciles the non-IFRS financial measures to the most directly comparable financial data. Net income (loss) is reconciled to Adjusted EBITDA for the twelve months ended September 30, 2026: Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total UNAUDITED (MILLIONS) Net (loss) income ................................................................. $ (136) $ (642) $ (310) $ 361 $ 983 $ (520) $ (264) Add back or deduct the following: ........................................ Depreciation .......................................................................... 703 865 506 232 9 — 2,315 Deferred income tax (recovery) expense ......................... (23) (75) (112) 113 4 (70) (163) Foreign exchange and financial instrument loss (gain) . 91 (410) (761) (288) (285) (32) (1,685) Other(24) .................................................................................. 535 520 1,108 559 (582) 70 2,210 Management service costs ................................................. — — — — — 274 274 Interest expense ................................................................... 991 653 548 175 2 273 2,642 Current income tax expense (recovery) ........................... 84 18 96 (344) (1) 1 (146) Amount attributable to equity accounted investments and non-controlling interests(29) ..................................... (785) (446) (445) (459) 36 — (2,099) Adjusted EBITDA attributable to Unitholders ...................... $ 1,460 $ 483 $ 630 $ 349 $ 166 $ (4) $ 3,084 Reconciliation of Non-IFRS Measures (cont'd) Refer to endnotes on page 46
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B R O O K F I E L D . C O M 36 The following table reconciles the non-IFRS financial measures to the most directly comparable financial data. Net income (loss) is reconciled to Adjusted EBITDA for the twelve months ended September 30, 2025: Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total UNAUDITED (MILLIONS) Net income (loss) .................................................................. $ 263 $ 275 $ (326) $ 229 $ 219 $ (438) $ 222 Add back or deduct the following: ........................................ Depreciation .......................................................................... 651 847 507 238 37 — 2,280 Deferred income tax (recovery) expense ......................... (31) (139) (131) 1 5 (46) (341) Foreign exchange and financial instrument (gain) loss . (9) (435) (207) (166) (227) 16 (1,028) Other(24) .................................................................................. 56 186 522 186 61 34 1,045 Management service costs ................................................. — — — — — 209 209 Interest expense ................................................................... 749 662 487 201 7 222 2,328 Current income tax expense (recovery) ........................... 50 (16) — (259) 1 1 (223) Amount attributable to equity accounted investments and non-controlling interests(29) ..................................... (783) (771) (351) (113) 98 — (1,920) Adjusted EBITDA attributable to Unitholders ...................... $ 946 $ 609 $ 501 $ 317 $ 201 $ (2) $ 2,572 Reconciliation of Non-IFRS Measures (cont'd) Refer to endnotes on page 46
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B R O O K F I E L D . C O M 37 The following table reconciles the non-IFRS financial metrics presented in this report to the most directly comparable IFRS measures or financial data for the three and twelve months ended September 30: Three Months Ended Twelve Months Ended UNAUDITED (MILLIONS) 2026 2025 2026 2025 Net (loss) income $ (360) $ 42 $ (264) $ 222 Add back or deduct the following: Depreciation 587 611 2,315 2,280 Deferred income tax recovery (84) (66) (163) (341) Foreign exchange and unrealized financial instruments gain (597) (66) (1,685) (1,028) Other(28) 810 (50) 2,210 1,045 Amount attributable to equity accounted investment and non-controlling interest(30) (10) (169) (925) (886) Funds From Operations $ 346 $ 302 $ 1,488 $ 1,292 Normalized long-term average generation adjustment 68 54 191 98 Normalized foreign currency adjustment (19) — (52) — Normalized Funds From Operations $ 395 $ 356 $ 1,627 $ 1,390 Reconciliation of Non-IFRS Measures (cont'd) Refer to endnotes on page 46
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B R O O K F I E L D . C O M 38 The following table reconciles the non-IFRS financial metrics presented in this report to the most directly comparable IFRS measures: Years ended December 31 UNAUDITED (MILLIONS) 2019 2020 2021 2022 2023 2024 2025 Net income (loss) $ 80 $ (45) $ (66) $ 138 $ 616 $ (9) $ 712 Add back or deduct the following: Depreciation 1,271 1,367 1,501 1,583 1,852 2,010 2,425 Deferred income tax recovery (27) (213) (29) (150) (176) (31) (365) Foreign exchange and unrealized financial instruments loss (gain) 36 (127) 32 133 (502) (880) (1,434) Other(28) 303 648 452 457 (106) 799 981 Amount attributable to equity accounted investment and non-controlling interest(30) (902) (823) (956) (1,156) (589) (672) (985) Funds From Operations $ 761 $ 807 $ 934 $ 1,005 $ 1,095 $ 1,217 $ 1,334 Normalized long-term average generation adjustment (36) 75 164 86 147 152 155 Normalized Funds From Operations $ 725 $ 882 $ 1,098 $ 1,091 $ 1,242 $ 1,369 $ 1,489 Reconciliation of Non-IFRS Measures (cont'd) Refer to endnotes on page 46
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B R O O K F I E L D . C O M 39 The following table reconciles the non-IFRS per unit financial metrics to the most directly comparable IFRS measures or financial data. Earnings per LP unit is reconciled to FFO per Unit and Normalized FFO per Unit for the three and twelve months ended September 30: Three Months Ended Twelve Months Ended 2026 2025 2026 2025 Basic loss per LP unit(4) $ (0.52) $ (0.23) $ (0.73) $ (0.87) Adjusted for proportionate share of: Depreciation 0.40 0.43 1.62 1.70 Deferred income tax recovery (0.07) (0.16) (0.31) (0.37) Foreign exchange and financial instruments gain (0.06) (0.04) (0.30) (0.30) Other(36) 0.76 0.46 1.90 1.79 Funds From Operations per Unit(3)(4) $ 0.51 $ 0.46 $ 2.18 $ 1.95 Normalized long-term average generation adjustment 0.10 0.08 0.28 0.14 Normalized foreign exchange adjustment (0.03) — (0.07) — Normalized Funds From Operation per Unit(4) $ 0.58 $ 0.54 $ 2.39 $ 2.09 Reconciliation of Non-IFRS Measures (cont'd) Refer to endnotes on page 46
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Appendix 2 – Additional Information
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B R O O K F I E L D . C O M 41 GENERATION (GWh)(31)(32)(33) Q1 Q2 Q3 Q4 Total Hydroelectric 5,390 5,807 4,797 5,388 21,382 Wind 2,633 2,437 2,044 2,750 9,864 Utility-scale solar 1,053 1,522 1,609 1,026 5,210 Distributed energy & storage 134 184 176 125 619 Total 9,210 9,950 8,626 9,289 37,075 Annualized Proportionate Renewable Long-term Average Generation Refer to endnotes on page 46 Annualized Consolidated Renewable Long-term Average Generation GENERATION (GWh)(7)(34)(35) Q1 Q2 Q3 Q4 Total Hydroelectric 9,076 9,665 8,301 9,413 36,455 Wind 16,356 14,605 12,766 17,033 60,760 Utility-scale solar 5,344 7,307 7,676 5,220 25,547 Distributed energy & storage 674 924 892 626 3,116 Total 31,450 32,501 29,635 32,292 125,878
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Appendix 3 – Presentation to Stakeholders and Performance Measurement
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B R O O K F I E L D . C O M 43 Presentation to Stakeholders Actual and Long-term Average Generation For assets acquired, disposed or reaching commercial operation during the period, reported generation is calculated from the acquisition, disposition or commercial operation date and is not annualized. As it relates to Colombia only, generation includes both hydroelectric and cogeneration facilities. “Other” includes generation from North America cogeneration and Brazil biomass. North America hydroelectric LTA is the expected average level of generation based on the results of a simulation based on historical inflow data performed over a period of typically 30 years. Colombia hydroelectric LTA is the expected average level of generation based on the results of a simulation based on historical inflow data performed over a period of typically 20 years. For substantially all of our hydroelectric assets in Brazil, the LTA is based on the reference amount of electricity allocated to our facilities under the market framework which levelizes generation risk across producers. Wind LTA is the expected average level of generation based on the results of simulated historical wind speed data performed over a period of typically 10 years. Utility-scale solar LTA is the expected average level of generation based on the results of a simulation using historical irradiance levels in the locations of our projects over a period of 14 to 20 years. We compare actual generation levels against the long-term average to highlight the impact of an important factor that affects the variability of our business results. In the short-term, we recognize that hydrology, wind and irradiance conditions will vary from one period to the next; over time however, we expect our facilities will continue to produce inline with their long-term averages, which have proven to be reliable indicators of performance. Our risk of a generation shortfall in Brazil continues to be minimized by participation in a hydrological balancing pool administered by the government of Brazil. This program mitigates hydrology risk by assuring that all participants receive, at any particular point in time, an assured energy amount, irrespective of the actual volume of energy generated. The program reallocates energy, transferring surplus energy from those who generated an excess to those who generate less than their assured energy, up to the total generation within the pool. Periodically, low precipitation across the entire country’s system could result in a temporary reduction of generation available for sale. During these periods, we expect that a higher proportion of thermal generation would be needed to balance supply and demand in the country potentially leading to higher overall spot market prices. Generation from our pumped storage and cogeneration facilities in North America is highly dependent on market price conditions rather than the generating capacity of the facilities. Our pumped storage facility in Europe generates on a dispatchable basis when required by our contracts for ancillary services. Generation from our biomass facilities in Brazil is dependent on the amount of sugar cane harvested in a given year. For these reasons, we do not consider a long-term average for these facilities. Brookfield Renewable’s consolidated equity interests Brookfield Renewable’s consolidated equity interests include the non-voting publicly traded limited partnership units (“LP units”) held by public unitholders and Brookfield, redeemable/exchangeable partnership units held by Brookfield (“Redeemable/Exchangeable partnership units”), in Brookfield Renewable Energy L.P. (“BRELP”), a holding subsidiary of Brookfield Renewable, general partnership interest (“GP interest”) in BRELP held by Brookfield, class A BEPC exchangeable subordinated voting shares ("BEPC exchangeable shares") and class A.2 BRHC exchangeable non-voting shares (class A.2 exchangeable shares). Holders of the GP interest, Redeemable/Exchangeable partnership units, LP units, BEPC exchangeable and A.2 exchangeable shares will be collectively referred to throughout as “Unitholders” or “per Unit”. The LP units, Redeemable/Exchangeable partnership units and BEPC exchangeable shares have the same economic attributes in all respects.
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B R O O K F I E L D . C O M 44 Performance Measurement Segmented Information Brookfield Renewable operations are segmented by – 1) hydroelectric, 2) wind, 3) utility-scale solar, 4) distributed energy and storage (distributed generation, pumped storage and battery energy storage systems), 5) sustainable solutions (renewable natural gas, carbon capture and storage, recycling, cogeneration, biomass, nuclear services, eFuels, and power transformation), and 6) corporate. This best reflects the way in which the CODM reviews results of our company. Proportionate Information Information on a proportionate basis reflects our share from facilities which we account for using consolidation and the equity method whereby we control the investment, exercise joint control or significant influence, or where Brookfield exercises significant influence over the investment. The total proportionate financial information is not, and is not intended to be, presented in accordance with IFRS. Proportionate information provides a net to Brookfield Renewable Unitholder perspective that management considers important when performing internal analyses and making strategic and operating decisions. Management also believes that providing proportionate information helps investors understand the impacts of decisions made by management and financial results allocable to Brookfield Renewable’s Unitholders. Tables reconciling IFRS data with data presented on a proportionate basis have been disclosed. See "Appendix 1 – Reconciliation of Non- IFRS Measures". As a result, segment revenues, other income, direct operating costs, interest expense, current income taxes, and other are reconciling items that will differ from results presented in accordance with IFRS as these reconciling items (1) include our proportionate share of earnings from equity-accounted investments and our financial asset in a nuclear services business, which is recognized as an equity-accounted investment by Brookfield, attributable to each of the above-noted items, (2) exclude the proportionate share of earnings (loss) of consolidated investments not held by us apportioned to each of the above-noted items, and (3) other income includes but is not limited to our proportionate share of settled foreign currency and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects and realized disposition gains on non-core assets and on recently developed assets that we have monetized to reflect the economic value created from our development activities as we design, build and commercialize new renewable energy capacity and sell these assets to lower cost of capital buyers which may not otherwise be reflected in our consolidated statements of income. The presentation of proportionate results has limitations as an analytical tool, including the following: The amounts shown on the individual line items were derived by applying our overall economic ownership interest percentage and do not necessarily represent our legal claim to the assets and liabilities, or the revenues and expenses; and other companies may calculate proportionate results differently than we do. Because of these and other limitations, our proportionate financial information should not be considered in isolation or as a substitute for our financial statements as reported under IFRS. We do not control those entities that have not been consolidated and as such, have been presented as equity-accounted investments in our financial statements. The presentation of the assets and liabilities and revenues and expenses do not represent our legal claim to such items, and the removal of financial statement amounts that are attributable to non-controlling interests does not extinguish our legal claims or exposures to such items. Unless the context indicates or requires otherwise, information with respect to the MW attributable to Brookfield Renewable’s facilities, including development assets, is presented on a consolidated basis, including with respect to facilities whereby Brookfield Renewable either controls or jointly controls the applicable facility. We provide additional information on how we determine Adjusted EBITDA, FFO, Normalized FFO, FFO per Unit and Normalized FFO per Unit. See “Appendix 3 – Presentation to Stakeholders and Performance Measurement”. We also provide reconciliations to IFRS Measures. See “Appendix 1 – Reconciliation of Non-IFRS Measures”.
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B R O O K F I E L D . C O M 45 Performance Measurement (cont'd) One of our primary business objectives is to generate reliable and growing cash flows while minimizing risk for the benefit of all stakeholders. We monitor our performance in this regard through four key metrics – i) Net Income (Loss), ii) Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization and iii) Funds From Operations. It is important to highlight that Adjusted EBITDA and Funds From Operations do not have any standardized meaning prescribed by IFRS and therefore are unlikely to be comparable to similar measures presented by other companies. • Net Income (Loss) – Calculated in accordance with IFRS. Net income (loss) is an important measure of profitability, in particular because it has a standardized meaning under IFRS. The presentation of net income (loss) on an IFRS basis for our business will often lead to the recognition of a loss or a year-over-year decrease in income even though the underlying cash flows generated by the assets are supported by strong margins and stable, long-term power purchase agreements. The primary reason for this is that accounting rules require us to recognize a significantly higher level of depreciation for our assets than we are required to reinvest in the business as sustaining capital expenditures. • Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (Adjusted EBITDA) – EBITDA is a non-IFRS measure used by investors to analyze the operating performance of companies. Brookfield Renewable uses Adjusted EBITDA to assess the performance of its operations before the effects of interest expense, income taxes, depreciation, management service costs, non-controlling interests, unrealized gain or loss on financial instruments, non-cash income or loss from equity-accounted investments, distributions to preferred shareholders, preferred unitholders, perpetual subordinated noteholders and other typical non-recurring items. Brookfield Renewable adjusts for these factors as they may be non-cash, unusual in nature and/or are not factors used by management for evaluating operating performance. Brookfield Renewable includes other income within Adjusted EBITDA in order to provide additional insight regarding the performance of investments on a cumulative realized basis, including any unrealized fair value adjustments that were recorded in equity and not otherwise reflected in the current period. Brookfield Renewable believes that presentation of this measure will enhance an investor’s understanding of the performance of the business. • Funds From Operations, Normalized Funds From Operations, Funds From Operations per Unit, and Normalized Funds From Operations per Unit – Funds From Operations is a non-IFRS measure used by investors to analyze net earnings from operations without the effects of certain volatile items that generally have no current financial impact or items not directly related to the performance of the business. Brookfield Renewable uses Funds From Operations to assess the performance of the business before the effects of certain cash items (e.g. acquisition costs and other typical non-recurring cash items) and certain non-cash items (e.g. deferred income taxes, depreciation, non-cash portion of non-controlling interests, unrealized gain or loss on financial instruments, non-cash income or loss from equity-accounted investments, and other non-cash items) as these are not reflective of the performance of the underlying business. Brookfield Renewable includes other income in order to provide additional insight regarding the performance of investments on a cumulative realized basis, including any unrealized fair value adjustments that were recorded in equity and not otherwise reflected in the current period. In our audited consolidated financial statements we use the revaluation approach in accordance with IAS 16, Property, Plant and Equipment, whereby depreciation is determined based on a revalued amount, thereby reducing comparability with our peers who do not report under IFRS as issued by the IASB or who do not employ the revaluation approach to measuring property, plant and equipment. We add back deferred income taxes on the basis that we do not believe this item reflects the present value of the actual tax obligations that we expect to incur over our long-term investment horizon. Brookfield Renewable believes that analysis and presentation of Funds From Operations on this basis will enhance an investor’s understanding of the performance of the business. Normalized Funds From Operations assumes long-term average generation adjusted for asset availability in all segments and uses constant currency rates for all periods presented. Brookfield Renewable does not place undue attention on short-term fluctuations in hydrology or resource and uses Normalized Funds From Operations to assess the fundamental performance of the business when actual generation varies materially from long-term average. Funds From Operations per Unit and Normalized Funds From Operations per Unit are not substitute measures of performance for earnings per LP unit and should not represent amounts available for distribution to LP unitholders. Funds From Operations may differ from definitions of Funds From Operations used by other entities, as well as the definition of funds from operations used by the Real Property Association of Canada (“REALPAC”) and the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”).
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B R O O K F I E L D . C O M 46 Endnotes (1) Non-IFRS measures. For reconciliations to the most directly comparable IFRS measure or financial data see “Reconciliation of Non-IFRS Measures” and “Cautionary Statement Regarding Use of Non-IFRS Measures”. (2) Normalized FFO assumes long-term average generation in all segments and uses 2025 foreign currency rates. For the three months ended September 30, 2026 , the change related to long-term average generation totaled $68 million (2025: $54 million ) and the change related to foreign currency totaled $(19) million . For the twelve months ended September 30, 2026 , normalized FFO assumes long-term average generation in all segments and uses the previous last twelve months foreign currency rates. For the twelve months ended September 30, 2026 , the change related to long-term average generation totaled $191 million (2025: $98 million) and the change related to foreign currency totaled $(52) million. (3) Average Units for the three months ended September 30, 2026 was 684.2 million (2025: 661.9 million ), being inclusive of our LP units, Redeemable/Exchangeable partnership units, BEPC exchangeable shares, class A.2 exchangeable shares and GP interest. The actual Units outstanding at September 30, 2026 were 684.2 million (2025: 662.0 million). Average Units for the twelve months ended September 30, 2026 was 681.6 million (2025: 662.5 million), being inclusive of our LP units, Redeemable/Exchangeable partnership units, BEPC exchangeable shares, class A.2 exchangeable shares and GP interest. (4) Average LP units outstanding for the three months ended September 30, 2026 were 302.7 million (2025: 284.2 million). The actual LP units outstanding at September 30, 2026 were 302.8 million (2025: 283.9 million). Average LP units outstanding for the twelve months ended September 30, 2026 were 300.9 million (2025: 284.4 million). (5) Total floating rate debt as a percentage of total borrowings is 16% (2025: 16%) of which 12% (2025: 12%) is related to floating rate debt of certain regions outside of North America and Europe due to the high cost of hedging associated with those regions. (6) Includes investments in our sustainable solutions portfolio including our investment in a leading global nuclear services business and a portfolio of investments in carbon capture and storage capacity, agricultural renewable natural gas, materials recycling and eFuels manufacturing capacity. (7) LTA is calculated based on our portfolio as at September 30, 2026, reflecting all renewables facilities we own, operate, or own an economic interest in on a consolidated and an annualized basis from the beginning of the year, regardless of the acquisition, disposition or commercial operation date. See 'Presentation to Stakeholders' for our methodology in computing LTA and for why we do not consider LTA for our pumped storage and certain of our other facilities. (8) Includes two battery storage facilities in North America (28 MW). (9) Includes two wind plants (32 MW) and ten solar plants (419 MW) in Colombia. (10) Excludes 356 MW of wind capacity with an LTA of 911 GWh, included in our sustainable solutions segment. (11) Excludes 333 MW of solar capacity with an LTA of 613 GWh, included in our sustainable solutions segment. (12) Includes one battery storage facility in North America (60 MW) and one battery storage facility in South America (3 MW). (13) Includes pumped storage in North America (666 MW). (14) Includes distributions to LP units, Redeemable/Exchangeable units, BEPC exchangeable shares, class A.2 exchangeable shares and GP interest including incentive distributions. (15) Average revenue per MWh was adjusted to net the impact of power purchases and any revenue with no corresponding generation. (16) Distributions on Preferred Units, Class A Preference Shares and Perpetual Subordinated Notes. (17) Draws on corporate credit facilities and commercial paper issuances are excluded from the debt repayment schedule as they are not a permanent source of capital. (18) Medium term and Hybrid notes are unsecured and guaranteed by Brookfield Renewable and excludes $26 million (2025: $23 million) of deferred financing fees, net of unamortized premiums.
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B R O O K F I E L D . C O M 47 Endnotes (cont'd) (19) Net debt is a Non-IFRS measure and is calculated on a proportionate basis as our share of debt net of cash. See Presentation to Stakeholders and Performance Measurement for relevance of proportionate information. For reconciliation to the most directly comparable IFRS measure see "Part 5 - Liquidity and Capital Resources" in the 2026 Management's Discussion and Analysis for reconciliation of proportionate debt to consolidated debt and see "Segment Proportionate Balance Sheet" for reconciliation of proportionate cash and cash equivalents to consolidated cash and cash equivalents. (20) Share of losses from equity-accounted investments of $10 million is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net loss attributable to participating non-controlling interests – in operating subsidiaries of $72 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. (21) Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units, BEPC exchangeable and class A.2 exchangeable shares and LP units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity, preferred equity and perpetual subordinated notes. (22) Other income in FFO of $ 354 million, includes the Partnership’s share of recurring and cash generative items recognized in various elements of the IFRS statements and are predominantly associated with dispositions and monetizations of developed or non-core assets and businesses, recognized in the following line items of the IFRS statements: i) Other income on the consolidated statement of income (loss), ii) Current income taxes and Foreign exchange and financial instruments gain on the consolidated statement of income (loss), iii) items recognized directly in equity in the Disposals and Ownership Changes line of the consolidated statement of changes in equity and iv) the aforementioned items earned via equity-accounted investments recorded on the share of earnings of equity-accounted investments line in the consolidated statement of income (loss). (23) Amounts attributable to non-controlling interests and other associated with Other income (loss) of $273 million includes the removal of the aforementioned items in endnote 22 that are included in FFO but excluded from Other income on the consolidated statement of income (loss). (24) Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects, realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term, and gains on equity transactions that are included within Adjusted EBITDA. (25) Other income in FFO of $ 187 million, includes the Partnership’s share of recurring and cash generative items recognized in various elements of the IFRS statements and are predominantly associated with dispositions and monetizations of developed or non-core assets and businesses, recognized in the following line items of the IFRS statements: i) Other income on the consolidated statement of income (loss), ii) Current income taxes and Foreign exchange and financial instruments gain on the consolidated statement of income (loss) and iii) the aforementioned items earned via equity-accounted investments recorded on the share of earnings of equity-accounted investments line in the consolidated statement of income (loss). (26) Amounts attributable to non-controlling interests and other associated with Other income (loss) of $164 million includes the removal of the aforementioned items in endnote 25 that are included in FFO but excluded from Other income on the consolidated statement of income (loss). (27) Share of losses from equity-accounted investments of $10 million is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controlling interests– in operating subsidiaries of $135 million is comprised of amounts found on Share of Funds From Operations attributable to non controlling interests and Net Income attributable to non-controlling interests. (28) Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects, realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term, and gains on equity transactions that are included in Funds From Operations. (29) Amount attributable to equity accounted investments corresponds to the Adjusted EBITDA to Brookfield Renewable that are generated by its investments in associates and joint ventures accounted for using the equity method. Amounts attributable to non-controlling interest are calculated based on the economic ownership interest held by non-controlling interests in consolidated subsidiaries, excluding amounts attributable to Unitholders. By adjusting Adjusted EBITDA attributable to non-controlling interest, Brookfield Renewable is able to remove the portion of Adjusted EBITDA earned at non-wholly owned subsidiaries that are not attributable to Brookfield Renewable. (30) Amount attributable to equity accounted investments corresponds to the Funds From Operations that are generated by its investments in associates and joint ventures accounted for using the equity method. Amounts attributable to non-controlling interest are calculated based on the economic ownership interest held by non-controlling interests in consolidated subsidiaries, excluding amounts attributable to Unitholders. By adjusting Funds From Operations attributable to non-controlling interest, Brookfield Renewable is able to remove the portion of Funds From Operations earned at non- wholly owned subsidiaries that are not attributable to Brookfield Renewable.
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B R O O K F I E L D . C O M 48 Endnotes (cont'd) (31) LTA is calculated on a proportionate and an annualized basis from the beginning of the year, regardless of the acquisition or commercial operation date. See Presentation to Stakeholders and Performance Measurement for an explanation on the calculation and relevance of proportionate information, our methodology in computing LTA and why we do not consider LTA for our pumped storage and certain of our other facilities. (32) Includes two wind plants (65 GWh) and ten solar plants (284 GWh) in Colombia. (33) Excludes 25 GWh solar and 39 GWh wind LTA related to our sustainable solutions investments to facilitate the decarbonization of a utility and independent power producer with operations in the Caribbean and Latin America. (34) Excludes 613 GWh solar and 911 GWh wind LTA related to our sustainable solutions investments to facilitate the decarbonization of a utility and independent power producer with operations in the Caribbean and Latin America. (35) Includes two wind plants (174 GWh) and ten solar plants (761 GWh) in Colombia. (36) Other corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other also includes derivative and other revaluations and settlements, gains or losses on debt extinguishment/modification, transaction costs, legal, provisions, amortization of concession assets and the Brookfield Renewable’s economic share of foreign currency hedges and other hedges, income earned on financial assets and structured investments in sustainable solutions, monetization of tax attributes at certain development projects, realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term, and gains on equity transactions that are included in Funds From Operations as well as amounts attributable to holders of Redeemable/Exchangeable partnership units, GP interest, BEPC exchangeable shares and class A.2 exchangeable shares. (37) Other income in FFO of $1,303 million , includes the Partnership’s share of recurring and cash generative items recognized in various elements of the IFRS statements and are predominantly associated with dispositions and monetizations of developed or non-core assets and businesses, recognized in the following line items of the IFRS statements: i) Other income on the consolidated statement of income (loss), ii) Current income taxes and Foreign exchange and financial instruments gain on the consolidated statement of income (loss), iii) items recognized directly in equity in the Disposals and Ownership Changes line of the consolidated statement of changes in equity and iv) the aforementioned items earned via equity-accounted investments recorded on the share of earnings of equity-accounted investments line in the consolidated statement of income (loss). (38) Amounts attributable to non-controlling interests and other associated with Other income (loss) of $328 million includes: i) the removal of the aforementioned items in endnote 37 that are included in FFO but excluded from Other income on the consolidated statement of income (loss) and ii) the addition of certain non-cash items recorded in Other income on the consolidated statement of income (loss) which are not included in FFO, such as non-recurring, non-cash gains related changes in the basis of accounting of certain investments and gains on disposal of interest that have not yet been monetized. (39) Share of earnings from equity-accounted investments of $29 million is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net earnings attributable to participating non-controlling interests – in operating subsidiaries of $21 million is comprised of amounts found on Share of Funds From Operations attributable to non- controlling interests and Net Income attributable to non-controlling interests. (40) Other income in FFO of $781 million , includes the Partnership’s share of recurring and cash generative items recognized in various elements of the IFRS statements and are predominantly associated with dispositions and monetizations of developed or non-core assets and businesses, recognized in the following line items of the IFRS statements: i) Other income on the consolidated statement of income (loss), ii) Current income taxes and Foreign exchange and financial instruments gain on the consolidated statement of income (loss), iii) items recognized directly in equity in the Disposals line of the consolidated statement of changes in equity and iv) the aforementioned items earned via equity-accounted investments recorded on the share of earnings of equity-accounted investments line in the consolidated statement of income (loss). (41) Amounts attributable to non-controlling interest and other associated with Other income (loss) of $297 million includes: i) the removal of the aforementioned items in endnote 40 that are included in FFO but excluded from Other income on the consolidated statement of income (loss) and ii) the addition of certain non-cash items recorded in Other income on the consolidated statement of income (loss) which are not included in FFO, such as non-cash acquisition gains. (42) Share of losses from equity-accounted investments of $101 million is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net earnings attributable to participating non-controlling interests – in operating subsidiaries of $556 million is comprised of amounts found on Share of Funds From Operations attributable to non- controlling interests and Net Income attributable to non-controlling interests. (43) Contribution from equity-accounted investments also includes our proportionate share of earnings attributable to segment revenues, other income, direct operating costs, interest expense, current income taxes, and other from our financial asset in a nuclear services business, which is recognized as an equity-accounted investment by Brookfield. (44) Includes our proportionate share of principal repayments from our financial asset in a nuclear services business, which is recognized as an equity-accounted investment by Brookfield.
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