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BROOKFIELD RENEWABLE PARTNERS L.P.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
UNAUDITED
(MILLIONS)
NotesSeptember 30, 2026December 31, 2025
Assets
Current assets
Cash and cash equivalents16$2,657 $2,093 
Restricted cash17453 220 
Trade receivables and other current assets183,096 2,542 
Financial instrument assets61,004 357 
Due from related parties21916 944 
Assets held for sale53,117 6,142 
11,243 12,298 
Financial instrument assets65,826 4,395 
Equity-accounted investments154,621 4,087 
Property, plant and equipment, at fair value975,501 70,456 
Goodwill146,669 6,019 
Deferred income tax assets524 493 
Other long-term assets960 953 
Total Assets$105,344 $98,701 
Liabilities
Current liabilities
Accounts payable and accrued liabilities19$2,850 $2,246 
Financial instrument liabilities61,017 670 
Due to related parties211,345 7,071 
Corporate borrowings101,471 194 
Non-recourse borrowings106,292 7,384 
Provisions115 112 
Liabilities directly associated with assets held for sale51,374 4,021 
14,464 21,698 
Financial instrument liabilities62,687 1,798 
Corporate borrowings103,892 3,492 
Non-recourse borrowings1030,724 23,822 
Deferred income tax liabilities9,979 9,395 
Provisions1,207 1,005 
Due to related parties212,470 693 
Other long-term liabilities2,073 1,824 
Equity
Non-controlling interests
Participating non-controlling interests – in operating subsidiaries1127,070 24,164 
General partnership interest in a holding subsidiary held by Brookfield1151 52 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield112,516 2,524 
BEPC exchangeable shares and class A.2 exchangeable shares112,367 2,330 
Preferred equity11544 563 
Perpetual subordinated notes11737 737 
Preferred limited partners' equity12647 634 
Limited partners' equity133,916 3,970 
Total Equity37,848 34,974 
Total Liabilities and Equity$105,344 $98,701 
    
The accompanying notes are an integral part of these interim consolidated financial statements.

Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 2

BROOKFIELD RENEWABLE PARTNERS L.P.
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
UNAUDITED
(MILLIONS, EXCEPT PER UNIT INFORMATION)
Three months ended September 30Nine months ended September 30
Notes2026202520262025
Revenues21$1,780 $1,596 $5,004 $4,868 
Other income75 319 459 551 
Direct operating costs(1)
(1,013)(721)(2,575)(2,095)
Management service costs21(63)(57)(213)(162)
Interest expense10(707)(586)(2,004)(1,819)
Share of (losses) earnings from equity-accounted investments15(10)(10)56 (83)
Foreign exchange and financial instruments gain6597 66 821 570 
Depreciation9(587)(611)(1,693)(1,803)
Other(436)(20)(841)(342)
Income tax (expense) recovery
Current8(80)— (46)57 
Deferred884 66 90 292 
4 66 44 349 
Net (loss) income$(360)$42 $(942)$34 
Net (loss) income attributable to:
Non-controlling interests
Participating non-controlling interests – in operating subsidiaries11$(72)$135 $(263)$385 
General partnership interest in a holding subsidiary held by Brookfield1139 35 120 105 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield11(101)(46)(250)(158)
BEPC exchangeable shares and class A.2 exchangeable shares11(95)(43)(235)(146)
Preferred equity117 8 23 22 
Perpetual subordinated notes1110 10 30 30 
Preferred limited partners' equity129 9 24 26 
Limited partners' equity13(157)(66)(391)(230)
$(360)$42 $(942)$34 
Basic and diluted loss per LP unit$(0.52)$(0.23)$(1.29)$(0.81)
(1)Direct operating costs exclude depreciation expense disclosed below.
The accompanying notes are an integral part of these interim consolidated financial statements.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 3

BROOKFIELD RENEWABLE PARTNERS L.P.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
UNAUDITED
(MILLIONS)
Three months ended September 30Nine months ended September 30
Notes2026202520262025
Net (loss) income$(360)$42 $(942)$34 
Other comprehensive income that will not be reclassified to net (loss) income:
Revaluations of property, plant and equipment93 (20)(116)89 
Actuarial gains on defined benefit plans6 7 7 10 
Deferred income tax (expense) recovery on above items(22)34 (48)(85)
Unrealized gain on investments in equity securities6998 — 1,581 1 
Equity-accounted investments15— (1)(53)11 
Total items that will not be reclassified to net income (loss)985 20 1,371 26 
Other comprehensive (loss) income that may be reclassified to net (loss) income:
Foreign currency translation255 280 1,308 1,441 
Losses arising during the period on financial instruments designated as cash-flow hedges6(249)(203)(423)(180)
Unrealized loss on foreign exchange swaps - net investment hedge6(160)(94)(417)(564)
Reclassification adjustments for amounts recognized in net (loss) income617 77 45 79 
Deferred income tax recovery on above items15 11 51 29 
Equity-accounted investments15(11)(17)(6)21 
Total items that may be reclassified subsequently to net (loss) income(133)54 558 826 
Other comprehensive income852 74 1,929 852 
Comprehensive income$492 $116 $987 $886 
Comprehensive income attributable to:
Non-controlling interests
Participating non-controlling interests – in operating subsidiaries11$(152)$293 $6 $971 
General partnership interest in a holding subsidiary held by Brookfield1145 34 130 106 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield11164 (67)227 (85)
BEPC exchangeable shares and class A.2 exchangeable shares11153 (62)212 (79)
Preferred equity116 (5)3 40 
Perpetual subordinated notes1110 10 30 30 
Preferred limited partners' equity129 9 24 26 
Limited partners' equity13257 (96)355 (123)
$492 $116 $987 $886 
The accompanying notes are an integral part of these interim consolidated financial statements.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 4

BROOKFIELD RENEWABLE PARTNERS L.P.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Accumulated other comprehensive incomeNon-controlling interests
UNAUDITED
THREE MONTHS ENDED
SEPTEMBER 30
(MILLIONS)
Limited
partners'
equity		Foreign
currency
translation		Revaluation
surplus		Actuarial losses on defined benefit plansCash flow
hedges		Investments in equity securitiesTotal
limited
partners'
equity		Preferred
limited
partners'
equity		Preferred
equity		Perpetual subordinated notesBEPC exchangeable shares and class A.2 exchangeable shares
Participating non-controlling interests – in operating subsidiaries
General partnership interest in a holding subsidiary held by Brookfield
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield
Total
equity
Balance, as at June 30, 2026
$(3,558)$(820)$7,904 $7 $(53)$259 $3,739 $647 $545 $737 $2,312 $25,395 $50 $2,423 $35,848 
Net (loss) income(157)— — — — — (157)9 7 10 (95)(72)39 (101)(360)
Other comprehensive (loss) income— (8)4 1 (24)441 414 — (1)— 248 (80)6 265 852 
Equity exchanged (Note 13)
74 — — — — — 74 — — — (74)— — — — 
Capital contributions— — — — — — — — — — — 3,344 — — 3,344 
Distributions and return of capital(119)— — — — — (119)(9)(7)(10)(72)(1,194)(43)(76)(1,530)
Acquisition (Note 3)
— — — — — — — — — — — 480 — — 480 
Disposal (Note 4)
84 — (84)— — — — — — — — (703)— — (703)
Distribution reinvestment plan2 — — — — — 2 — — — — — — — 2 
Other(97)(9)71 — (2)— (37)— — — 48 (100)(1)5 (85)
Change in period(213)(17)(9)1 (26)441 177 — (1)— 55 1,675 1 93 2,000 
Balance, as at September 30, 2026
$(3,771)$(837)$7,895 $8 $(79)$700 $3,916 $647 $544 $737 $2,367 $27,070 $51 $2,516 $37,848 
Balance, as at June 30, 2025
$(3,119)$(777)$7,230 $4 $(10)$— $3,328 $634 $568 $737 $2,106 $23,627 $47 $2,280 $33,327 
Net (loss) income(66)— — — — — (66)9 8 10 (43)135 35 (46)42 
Other comprehensive income (loss)— 15 (27)1 (19)— (30)— (13)— (19)158 (1)(21)74 
Capital contributions— — — — — — — — — — — 325 — — 325 
Distributions and return of capital(106)— — — — — (106)(9)(8)(10)(67)(291)(37)(73)(601)
Disposal5 — (5)— — — — — — — — (408)— — (408)
Distribution reinvestment plan2 — — — — — 2 — — — — — — — 2 
Other— 1 3 — — — 4 — — — 4 70 — 5 83 
Change in period(165)16 (29)1 (19)— (196)— (13)— (125)(11)(3)(135)(483)
Balance, as at September 30, 2025
$(3,284)$(761)$7,201 $5 $(29)$— $3,132 $634 $555 $737 $1,981 $23,616 $44 $2,145 $32,844 
The accompanying notes are an integral part of these interim consolidated financial statements.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 5
        

BROOKFIELD RENEWABLE PARTNERS L.P.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Accumulated other comprehensive incomeNon-controlling interests
UNAUDITED
NINE MONTHS ENDED
SEPTEMBER 30
(MILLIONS)
Limited
partners'
equity		Foreign
currency
translation		Revaluation
surplus		Actuarial losses on defined benefit plansCash flow
hedges		Investments in equity securitiesTotal
limited
partners'
equity		Preferred
limited
partners'
equity		Preferred
equity		Perpetual subordinated notesBEPC exchangeable shares and class A.2 exchangeable shares
Participating non-controlling interests – in operating subsidiaries
General partnership interest in a holding subsidiary held by Brookfield
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield
Total
equity
Balance, as at December 31, 2025
$(3,281)$(930)$8,206 $7 $(32)$— $3,970 $634 $563 $737 $2,330 $24,164 $52 $2,524 $34,974 
Net (loss) income(391)— — — — — (391)24 23 30 (235)(263)120 (250)(942)
Other comprehensive income (loss)— 86 (2)3 (41)700 746 — (20)— 447 269 10 477 1,929 
Equity issuance (Note 11)
— — — — — — — — — — 237 — — — 237 
Equity repurchased for cancellation (Note 13)
(201)— — — — — (201)— — — — — — — (201)
Equity exchanged (Note 13)
74 — — — — — 74 — — — (74)— — — — 
Capital contributions— — — — — — — — — — — 6,254 — — 6,254 
Distributions and return of capital(356)— — — — — (356)(24)(23)(30)(216)(2,842)(130)(230)(3,851)
Issuance of Preferred LP Units (Note 12)
— — — — — — — 141 — — — — — — 141 
Redemption of Preferred LP Units (Note 12)
— — — — — — — (128)— — — — — — (128)
Acquisition (Note 3)
— — — — — — — — — — — 480 — — 480 
Disposal (Note 4)
150 — (150)— — — — — — — — (703)— — (703)
Distribution reinvestment plan5 — — — — — 5 — — — — — — — 5 
Change in ownership(18)— (85)— — — (103)— — — (61)231 (1)(66)— 
Other247 7 (74)(2)(6)— 172 — 1 — (61)(520)— 61 (347)
Change in period(490)93 (311)1 (47)700 (54)13 (19)— 37 2,906 (1)(8)2,874 
Balance, as at September 30, 2026
$(3,771)$(837)$7,895 $8 $(79)$700 $3,916 $647 $544 $737 $2,367 $27,070 $51 $2,516 $37,848 
Balance, as at December 31, 2024
$(2,774)$(859)$7,237 $4 $(4)$— $3,604 $634 $537 $737 $2,269 $26,168 $50 $2,457 $36,456 
Net (loss) income(230)— — — — — (230)26 22 30 (146)385 105 (158)34 
Other comprehensive (loss) income— 94 36 2 (26)1 107 — 18 — 67 586 1 73 852 
Equity repurchased for cancellation(34)— — — — — (34)— — — — — — — (34)
Capital contributions— — — — — — — — — — — 2,154 — — 2,154 
Distributions and return of capital(320)— — — — — (320)(26)(22)(30)(202)(1,513)(113)(220)(2,446)
Acquisition— — — — — — — — — — — (3,166)— — (3,166)
Disposal55 — (55)— — — — — — — — (1,002)— — (1,002)
Distribution reinvestment plan5 — — — — — 5 — — — — — — — 5 
Other14 4 (17)(1)1 (1)— — — — (7)4 1 (7)(9)
Change in period(510)98 (36)1 (25)— (472)— 18 — (288)(2,552)(6)(312)(3,612)
Balance, as at September 30, 2025
$(3,284)$(761)$7,201 $5 $(29)$— $3,132 $634 $555 $737 $1,981 $23,616 $44 $2,145 $32,844 
The accompanying notes are an integral part of these interim consolidated financial statements.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 6
        

BROOKFIELD RENEWABLE PARTNERS L.P.
CONSOLIDATED STATEMENTS OF CASH FLOWS
UNAUDITEDThree months ended September 30Nine months ended September 30
(MILLIONS)Notes2026202520262025
Operating activities
Net (loss) income$(360)$42 $(942)$34 
Adjustments for the following non-cash items:
Depreciation9587 611 1,693 1,803 
Unrealized foreign exchange and financial instruments gain6(611)(89)(844)(578)
Share of losses (earnings) from equity-accounted investments1510 10 (56)83 
Deferred income tax recovery8(84)(66)(90)(292)
Other non-cash items536 (134)877 41 
Dividends received from equity-accounted investments1544 36 172 100 
122 410 810 1,191 
Changes in due to or from related parties21(78)40 1 226 
Net change in working capital balances308 (64)218 (265)
352 386 1,029 1,152 
Financing activities
Proceeds from corporate borrowings10538 — 897 491 
Repayment of corporate borrowings10— — — (291)
Corporate credit facilities, net10(53)(169)— (240)
Commercial paper, net1019 (238)926 197 
Proceeds from non-recourse borrowings
10,21
4,164 3,531 11,546 10,658 
Repayment of non-recourse borrowings
10,21
(1,973)(1,432)(7,919)(6,698)
Capital contributions from participating non-controlling interests – in operating subsidiaries112,759 55 5,618 1,884 
Issuance of equity instruments and related costs, net
11,13
— — 36 (34)
Issuance of preferred equity instruments and related costs, net
12
— — 13 — 
Distributions paid and capital repaid:
To participating non-controlling interests - in operating subsidiaries, preferred shareholders, preferred limited partners unitholders, and perpetual subordinate notes
11,12
(1,333)(314)(2,918)(1,587)
To unitholders of Brookfield Renewable or BRELP and shareholders of Brookfield Renewable Corporation
11,13
(307)(287)(928)(851)
Inflows from related parties 21218 (217)1,115 5,253 
Outflows to related parties 21(213)(22)(3,904)(3,127)
3,819 907 4,482 5,655 
Investing activities
Acquisitions, net of cash and cash equivalents, in acquired entity3(2,813)— (2,813)(4,429)
Investment in property, plant and equipment9(1,908)(1,755)(4,492)(4,779)
Investment in equity-accounted investments15(35)(90)(103)(146)
Proceeds from disposal of assets, net of cash and cash equivalents disposed4818 783 2,251 1,313 
Purchases of financial assets6(8)(70)(43)(167)
Proceeds from financial assets6704 1 706 347 
Restricted cash and other(215)(51)(364)(178)
(3,457)(1,182)(4,858)(8,039)
Cash and cash equivalents
Increase (decrease)714 111 653 (1,232)
Foreign exchange (loss) gain on cash(8)— (8)121 
Net change in cash classified within assets held for sale(20)(83)(81)(89)
Balance, beginning of period1,971 1,907 2,093 3,135 
Balance, end of period$2,657 $1,935 $2,657 $1,935 
Supplemental cash flow information:
Interest paid$566 $500 $1,746 $1,664 
Interest received18 16 93 69 
Income taxes paid66 32 228 95 
The accompanying notes are an integral part of these interim consolidated financial statements.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 7

BROOKFIELD RENEWABLE PARTNERS L.P.
NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
The business activities of Brookfield Renewable Partners L.P. (“Brookfield Renewable”) consist of owning a portfolio of renewable power and sustainable solution assets primarily in North America, South America, Europe and Asia–Pacific (“APAC”).
Unless the context indicates or requires otherwise, the term “Brookfield Renewable” means Brookfield Renewable Partners L.P. and its controlled entities, including Brookfield Renewable Corporation (“BEPC”). Unless the context indicates or requires otherwise, the term “the partnership” means Brookfield Renewable Partners L.P. and its controlled entities, excluding BEPC.
The immediate parent of Brookfield Renewable is its general partner, Brookfield Renewable Partners Limited (“BRPL”). The ultimate parent of Brookfield Renewable is Brookfield Corporation (“Brookfield Corporation”). Brookfield Corporation and its subsidiaries, other than Brookfield Renewable, and unless the context otherwise requires, includes Brookfield Asset Management Ltd (“Brookfield Asset Management”), are also individually and collectively referred to as “Brookfield” in these financial statements. The term “Brookfield Holders” means Brookfield, Brookfield Wealth Solutions (formerly Brookfield Reinsurance) and their related parties. The term “Brookfield Fund” means a private fund managed by Brookfield Asset Management and its subsidiaries. The term “consortium managed by BAM” means an investment vehicle managed by Brookfield Asset Management and its subsidiaries.
Brookfield Renewable’s consolidated equity interests include the non-voting publicly traded limited partnership units (“LP units”) held by public unitholders and Brookfield Holders, class A exchangeable subordinate voting shares (“BEPC exchangeable shares”) of BEPC held by public shareholders and Brookfield Wealth Solutions, class A.2 exchangeable shares (“class A.2 exchangeable shares”) of Brookfield Renewable Holdings Corporation (“BRHC”) held by Brookfield, redeemable/exchangeable partnership units (“Redeemable/Exchangeable partnership units”) in Brookfield Renewable Energy L.P. (“BRELP”), a holding subsidiary of Brookfield Renewable, held by Brookfield, and a general partnership interest (“GP interest”) in BRELP held by Brookfield. Holders of the LP units, Redeemable/Exchangeable partnership units, GP interest, BEPC exchangeable shares and class A.2 exchangeable shares will be collectively referred to throughout as “Unitholders” unless the context indicates or requires otherwise. LP units, Redeemable/Exchangeable partnership units, GP interest, BEPC exchangeable shares and class A.2 exchangeable shares will be collectively referred to throughout as "Units", or as "per Unit", unless the context indicates or requires otherwise.
Brookfield Renewable is a publicly traded limited partnership established under the laws of Bermuda pursuant to an amended and restated limited partnership agreement dated November 20, 2011 as thereafter amended from time to time.
The registered office of Brookfield Renewable is 91 Front Street, 1st Floor, Hamilton HM12, Bermuda.
The LP units are traded under the symbol “BEP” on the New York Stock Exchange and under the symbol “BEP.UN” on the Toronto Stock Exchange. Brookfield Renewable's Class A Series 13, Series 18, and Series 19 preferred limited partners’ equity are traded under the symbols “BEP.PR.M”, “BEP.PR.R”, and “BEP.PR.S”,
respectively, on the Toronto Stock Exchange. Brookfield Renewable's Class A Series 17 preferred limited partners’ equity is traded under the symbol “BEP.PR.A” on the New York Stock Exchange. The perpetual subordinated notes are traded under the symbol “BEPH”, “BEPI”, and “BEPJ” on the New York Stock Exchange.
The BEPC exchangeable shares are traded under the symbol “BEPC” on the New York Stock Exchange and the Toronto Stock Exchange.
Notes to the consolidated financial statementsPage
1.Basis of preparation and material accounting policy information
2.Principal subsidiaries
3.Acquisitions
4.Disposal of assets
5.Assets held for sale
6.Risk management and financial instruments
7.Segmented information
8.Income taxes
9.Property, plant and equipment
10.Borrowings
11.Non-controlling interests
12.Preferred limited partners' equity
13.Limited partners' equity
14.Goodwill
15.Equity-accounted investments
16.Cash and cash equivalents
17.Restricted cash
18.Trade receivables and other current assets
19.Accounts payable and accrued liabilities
20.Commitments, contingencies and guarantees
21.Related party transactions
22.Subsidiary public issuers
23.Subsequent events

Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 8



1. BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICY INFORMATION
(a) Statement of compliance
The interim consolidated financial statements have been prepared in accordance with IAS 34, Interim Financial Reporting. 
Certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS Accounting Standards”), as issued by the International Accounting Standards Board (“IASB”), have been omitted or condensed. These interim consolidated financial statements should be read in conjunction with Brookfield Renewable’s December 31, 2025 audited consolidated financial statements. The interim consolidated financial statements have been prepared on a basis consistent with the accounting policies disclosed in the December 31, 2025 audited consolidated financial statements, except for the adoption of new standards effective as of January 1, 2026, refer to Note 1 (d) Recently adopted accounting standards.
The results reported in these interim consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for an entire year. The policies set out below are consistently applied to all periods presented, unless otherwise noted. 
These consolidated interim financial statements have been authorized for issuance by the Board of Directors of Brookfield Renewable’s general partner, BRPL, on November 4, 2026.
Certain comparative figures have been reclassified to conform to the current year’s presentation.
References to $, C$, €, £, R$, COP, INR, CNY, KRW and A$ are to United States (“U.S.”) dollars, Canadian dollars, Euros, British pound, Brazilian reais, Colombian pesos, Indian rupees, Chinese yuan, South Korean won and Australian dollars, respectively.
All figures are presented in millions of U.S. dollars unless otherwise noted.
(b) Basis of preparation
The interim consolidated financial statements have been prepared on the basis of historical cost, except for the revaluation of property, plant and equipment and certain assets and liabilities which have been measured at fair value. Cost is recorded based on the fair value of the consideration given in exchange for assets.
(c) Consolidation
These consolidated interim financial statements include the accounts of Brookfield Renewable and its subsidiaries, which are the entities over which Brookfield Renewable has control. An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Non-controlling interests in the equity of Brookfield Renewable’s subsidiaries are shown separately in equity in the interim consolidated statements of financial position.
(d) Recently adopted accounting standards
Amendments to IFRS 9 - Financial Instruments (“IFRS 9”) and IFRS 7 - Financial Instruments: Disclosures (“IFRS 7”) - Classification and Measurement of Financial Instruments
The amendments clarify the requirements for the timing of recognition and derecognition of financial liabilities settled through an electronic cash transfer system, add further guidance for assessing the contractual cash flow characteristics of financial assets with contingent features, and adds new or amended disclosures relating to investments in equity instruments designated at Fair Value through Other Comprehensive Income “FVOCI” and financial instruments with contingent features. The amendments to IFRS 9 and IFRS 7 apply to annual reporting periods beginning on or after January 1, 2026. Brookfield Renewable has assessed the impact of these amendments and have noted no material impact.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 9

Amendments to IFRS 9 - Financial Instruments (“IFRS 9”) and IFRS 7 - Financial Instruments: Disclosures (“IFRS 7”) - Contracts Referencing Nature-Dependent Electricity
The amendments apply only to contracts referencing nature-dependent electricity and clarify the application of the “own-use” requirements, the use of hedge accounting, and adds new disclosure requirements around the effect of these contracts on the partnership’s financial performance and cash flows. The amendments to IFRS 9 and IFRS 7 apply to annual reporting periods beginning on or after January 1, 2026. Brookfield Renewable has assessed the impact of these amendments and have noted no material impact.
(e) Future changes in accounting policies
IFRS 18 – Presentation and Disclosure in Financial Statements (“IFRS 18”)
In April 2024, the IASB issued IFRS 18, Presentation and Disclosure of Financial Statements. IFRS 18 is effective for periods beginning on or after January 1, 2027, with early adoption permitted. IFRS 18 is expected to improve the quality of financial reporting by requiring defined subtotals in the statement of profit or loss, requiring disclosure about management-defined performance measures, and adding new principles for aggregation and disaggregation of information. Brookfield Renewable is currently assessing the impact of this standard on its presentation and disclosures.
IFRS 20 - Regulatory Assets and Regulatory Liabilities (“IFRS 20”)
In May 2026, the IASB issued IFRS 20, Regulatory Assets and Regulatory Liabilities. IFRS 20 is effective for periods beginning on or after January 1, 2029, with early adoption permitted. IFRS 20 sets out the requirements for the recognition, measurement, presentation and disclosure of regulatory assets, regulatory liabilities, regulatory income and regulatory expense, enabling users of financial statements to understand the total allowed compensation for regulatory goods or services supplied in each reporting period and the related rights and obligations. Brookfield Renewable is currently assessing the impact of this standard on its presentation and disclosures.
There are currently no other future changes to IFRS Accounting Standards with a potential material impact on Brookfield Renewable.
2. PRINCIPAL SUBSIDIARIES
The following table lists the subsidiaries of Brookfield Renewable which significantly affect its financial position and results of operations as at September 30, 2026:
Jurisdiction of Incorporation or OrganizationPercentage of voting securities owned or controlled (%)
BP Brazil US Subco LLCDelaware100
Brookfield BRP Canada Corp.Ontario100
Brookfield BRP Europe Holdings (Bermuda) LimitedBermuda100
Brookfield Power US Holding America Co.Delaware100
Isagen S.A. E.S.P.(1)
Colombia99.7
TerraForm Power Parent, LLC(1)
Delaware100
Neoen S.A.S.(1)
France100
Geronimo Power Holdings, LLC(1)
Delaware100
Boralex Inc.(1)(2)
Canada100
(1)Voting control held, in whole or in part, through voting agreements with Brookfield and co-investors.
(2)Inclusive of strategic investor’s economic interest.
3. ACQUISITIONS
Geronimo Power
On May 29, 2025, Brookfield Renewable, together with its institutional partners, completed the acquisition of a 100% interest in a fully integrated developer and operator of renewable power assets in the U.S. During the second quarter of 2026, the purchase price allocation was finalized with no changes from the purchase price allocation that was disclosed in the 2025 annual report.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
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Boralex
On August 14, 2026, Brookfield Renewable, together with its institutional partners and La Caisse, completed the acquisition of a 100% interest in Boralex, a fully integrated developer and operator of renewable power assets across Canada, the U.S., France, and the U.K. with 3.8 GW of operating assets and an over 8 GW development pipeline for a total consideration, inclusive of pre-existing non-recourse borrowings repaid on closing, of approximately C$4.5 billion ($3.2 billion) (C$0.79 billion ($0.57 billion) net to Brookfield Renewable). Transaction costs related to the acquisition totaled $16 million and have been recognized within Other in the consolidated statements of income (loss). If the acquisition had taken place at the beginning of the year, revenues would have been $510 million for the nine months ended September 30, 2026.
The preliminary purchase price allocation, at fair value, as at August 14, 2026, is as follows:
(MILLIONS)
Boralex(1)
Cash and cash equivalents$397 
Restricted cash9 
Trade receivables and other current assets320 
Due from related parties4 
Assets held for sale13 
Property, plant and equipment, at fair value5,553 
Financial instrument assets(2)
145 
Equity-accounted investments961 
Other long-term assets105 
Accounts payable and accrued liabilities(232)
Financial instrument liabilities(2)
(69)
Due to related parties(2)
(10)
Non-recourse borrowings(2)
(2,940)
Deferred income tax liabilities(642)
Provisions(2)
(272)
Other long-term liabilities(240)
Fair value of net assets acquired3,102 
Non-controlling interests(480)
Goodwill588 
Purchase price$3,210 
(1)The purchase price allocation is preliminary as at September 30, 2026. Brookfield Renewable is currently assessing the fair value of net assets acquired and Goodwill for the purchase price allocation and expects to finalize the balances in 2027, within the one year measurement period.
(2)Includes both current and long-term amounts.
4. DISPOSAL OF ASSETS
U.S. Hydroelectric Portfolio
In a series of transactions which took place on January 9, 2026, June 29, 2026, and August 27, 2026, Brookfield Renewable, together with its institutional partners, completed the sale of its remaining 75% interest in a 448 MW portfolio of operating hydroelectric assets in the U.S. for proceeds of approximately $841 million ($402 million net to Brookfield Renewable), of which $85 million ($35 million net to Brookfield Renewable) is deferred consideration. Brookfield Renewable, together with its institutional partners, completed certain commercial initiatives in accordance with the sale agreements that resulted in an additional earn-out of $72 million ($36 million net to Brookfield Renewable) recognized within Other income in the consolidated statements of income (loss). As a result of the disposition, Brookfield Renewable derecognized $1.8 billion of total assets and $0.8 billion of total liabilities from the consolidated statements of financial position. The post-tax accumulated revaluation surplus of $1.1 billion ($106 million net to Brookfield Renewable) was reclassified from accumulated other comprehensive income directly to equity and presented as a Disposal item in the consolidated statements of changes in equity.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
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U.K. Wind Portfolio
On January 20, 2026, Brookfield Renewable, together with its institutional partners, completed the sale of a 73 MW portfolio of operating wind assets in the U.K. for proceeds, net of transaction costs, of approximately £58 million ($79 million) (£15 million ($20 million) net to Brookfield Renewable). As a result of the disposition, Brookfield Renewable derecognized $197 million of total assets and $118 million of total liabilities from the consolidated statements of financial position. As a result of the disposition, the post-tax accumulated revaluation surplus of $10 million ($3 million net to Brookfield Renewable) was reclassified from accumulated other comprehensive income directly to equity and presented as a Disposal item in the consolidated statements of changes in equity.
Indian Renewables Platform
In February 2026, Brookfield Renewable, together with its institutional partners, completed a partial disposition in a renewable power operating and development platform in India through an initial public offering (“IPO”) and private placement. Together, these transactions reduced the consortium’s ownership by 17% for proceeds of approximately $185 million ($36 million net to Brookfield Renewable). As a result of the successful launch of the IPO, Brookfield Renewable, together with its institutional partners, transferred a 3% interest to a member of the platform’s IPO founder group for nominal consideration as part of a pre-existing agreement. As at September 30, 2026, Brookfield Renewable, together with its institutional partners, holds an interest of approximately 21% (4% net to Brookfield Renewable) in the platform.
Spanish Distributed Generation Portfolio
On March 9, 2026, Brookfield Renewable, together with its institutional partners, contributed its 100% interest in a 200 MW portfolio of distributed generation assets in Spain with a fair value of approximately €116 million ($136 million) into a U.K. distributed generation joint venture. In connection with the contribution, Brookfield Renewable derecognized $404 million of total assets and $225 million of total liabilities from the consolidated statements of financial position and recognized a receivable from the joint venture of €116 million ($136 million) that is presented as due from related parties in the consolidated statements of financial position. As a result of the disposition, accumulated other comprehensive income on foreign currency translation of $1 million ($0.2 million net to Brookfield Renewable) was reclassified to Foreign exchange and financial instruments gain (loss) in the consolidated statements of income (loss).
U.S. Solar Portfolio
On March 30, 2026, Brookfield Renewable, together with its institutional partners, completed the sale of an 833 MW portfolio of operating solar assets in the U.S. for proceeds, net of transaction costs, of approximately $394 million ($71 million net to Brookfield Renewable). As a result of the disposition, Brookfield Renewable derecognized $928 million of total assets and $542 million of total liabilities from the consolidated statements of financial position. As a result of the disposition, the post-tax accumulated revaluation surplus of $184 million ($27 million net to Brookfield Renewable) was reclassified from accumulated other comprehensive income directly to equity and presented as a Disposal item in the consolidated statements of changes in equity.
U.S. Renewables Portfolio
On May 29, 2026 and July 22, 2026, Brookfield Renewable, together with its institutional partners, completed the sale of a 2.1 GW portfolio of operating wind and solar assets in the U.S. for proceeds of approximately $1.2 billion ($299 million net to Brookfield Renewable), net of transactions costs. This resulted in a gain on disposition of $59 million ($12 million net to Brookfield Renewable) recognized within Other income in the consolidated statements of income (loss). As a result of the disposition, Brookfield Renewable derecognized $3.6 billion of total assets and $2.4 billion of total liabilities from the consolidated statements of financial position. Accumulated other comprehensive loss of $29 million ($5 million net to Brookfield Renewable) relating to non-cash mark-to-market losses on power purchase agreements accounted for in accordance with IFRS 9 was reclassified to Foreign exchange and financial instruments gain (loss) in the consolidated statements of income (loss). The post-tax accumulated revaluation surplus of $187 million ($36 million net to Brookfield Renewable) was reclassified from accumulated other comprehensive income directly to equity and presented as a Disposal item in the consolidated statements of changes in equity.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
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Colombian Renewables Portfolio
On September 17, 2026, Brookfield Renewable, together with its institutional partners, completed the sale of a 39 MW portfolio of operating hydroelectric assets in Colombia for proceeds of approximately COP612 billion ($156 million) (COP228 billion ($58 million) net to Brookfield Renewable). As a result of the disposition, Brookfield Renewable derecognized $249 million of total assets and $71 million of total liabilities from the consolidated statements of financial position. The post-tax accumulated revaluation surplus of $99 million ($37 million net to Brookfield Renewable) was reclassified from accumulated other comprehensive income directly to equity and presented as a Disposal item in the consolidated statements of changes in equity.
Indian Renewables Platform
On September 18, 2026, Brookfield Renewable, together with its institutional partners, redeemed its convertible securities, recorded as a financial instrument asset on the consolidated statements of financial position, in a leading renewable platform in India, for proceeds of approximately INR67 billion ($700 million) (INR14 billion ($150 million) net to Brookfield Renewable). Brookfield Renewable, together with its institutional partners, invested $401 million ($86 million net to Brookfield Renewable) into the platform. Throughout the course of the investment, accumulated mark-to-market gains have been recognized within Foreign exchange and financial instrument gain (loss) in the consolidated statements of income (loss) of $299 million ($64 million net to Brookfield Renewable).
5. ASSETS HELD FOR SALE
As at September 30, 2026, assets held for sale include the following:
U.S. Renewables Portfolio
During the first quarter of 2026, Brookfield Renewable, together with its institutional partners, agreed to the sale of a 2.3 GW portfolio of operating solar and wind assets in the U.S. for proceeds of approximately $1.3 billion ($316 million net to Brookfield Renewable). On May 29, 2026 and July 22, 2026, Brookfield Renewable, together with its institutional partners, completed the sale of 2.1 GW of the portfolio, refer to Note 4 - Disposal of assets for more details.
The remaining 246 MW portfolio of operating solar assets continues to be classified within assets held for sale as at September 30, 2026. Subsequent to the quarter, Brookfield Renewable, together with its institutional partners, completed the sale of the portfolio for proceeds of $127 million ($25 million net to Brookfield Renewable), refer to Note 23 - Subsequent events for more details.
Colombian Renewables Portfolios
During the second quarter of 2026, Brookfield Renewable, together with its institutional partners, agreed to the sale of a portfolio including 118 MW of operating hydroelectric assets and 100 MW of operating solar assets in Colombia for proceeds of approximately COP1,610 billion ($426 million) (COP601 billion ($159 million) net to Brookfield Renewable). As at September 30, 2026, the portfolio had a post-tax accumulated revaluation surplus of $180 million ($67 million net to Brookfield Renewable) that would be reclassified to equity upon disposition. Subsequent to the quarter, the sale of the portfolio was completed, refer to Note 23 - Subsequent events for more details.
During the third quarter of 2026, Brookfield Renewable, together with its institutional partners, agreed to the sale of a portfolio including 110 MW of operating hydroelectric assets and 134 MW of operating solar assets in Colombia for proceeds of approximately COP2,035 billion ($551 million) (COP759 billion ($206 million) net to Brookfield Renewable). As at September 30, 2026, the portfolio had a post-tax accumulated revaluation surplus of $211 million ($79 million net to Brookfield Renewable) that would be reclassified to equity upon disposition.
European Renewables Portfolio
During the year, Brookfield Renewable, together with its institutional partners, agreed to the sale of a 420 MW portfolio of operating wind and solar assets in Europe for proceeds of approximately €352 million ($408 million) (€65 million ($76 million) net to Brookfield Renewable). As at September 30, 2026, the portfolio had a post-tax accumulated revaluation surplus of $124 million ($26 million net to Brookfield Renewable) that would be reclassified to equity upon disposition.
Other
During the third quarter of 2026, Brookfield Renewable, together with its institutional partners, agreed to the sale of a 242 MW portfolio of operating solar assets in El Salvador for proceeds of approximately $77 million ($8 million net to Brookfield Renewable). As at September 30, 2026, the portfolio had a post-tax accumulated revaluation surplus of $7 million ($1 million net to Brookfield Renewable) that would be reclassified to equity upon disposition.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
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Subsequent to the quarter, Brookfield Renewable, together with its institutional partners, agreed to the sale of a 40 MW development solar asset in the U.K. for proceeds of approximately £32 million ($42 million) (£8 million ($11 million) net to Brookfield Renewable). The portfolio had a post-tax accumulated revaluation surplus of $2 million ($0.5 million net to Brookfield Renewable) that would be reclassified to equity upon disposition.


The following is a summary of the major items of assets and liabilities classified as held for sale:
(MILLIONS)U.S. Renewables PortfolioColombian Renewables PortfoliosEuropean Renewables PortfolioOtherSeptember 30, 2026December 31, 2025
Assets
Cash and cash equivalents$31 $— $32 $20 $83 $79 
Restricted cash1 — — — 1 88 
Trade receivables and other current assets4 2 21 8 35 94 
Financial instrument assets20 — 22 — 42 160 
Property, plant and equipment, at fair value(1)
442 1,408 794 261 2,905 5,582 
Goodwill— 26 — — 26 — 
Deferred income tax assets— — — 1 1 — 
Other long-term assets20 — 3 1 24 139 
Assets held for sale$518 $1,436 $872 $291 $3,117 $6,142 
Liabilities
Current liabilities$4 $— $9 $11 $24 $99 
Non-recourse borrowings248— 259 133 640 2,359 
Financial instrument liabilities112— 3 — 115 1,095 
Deferred income tax liabilities— 343 101 19 463 73 
Provisions— 2 11 6 19 203 
Other long-term liabilities267 74 6 113 192 
Liabilities directly associated with assets held for sale$390 $352 $457 $175 $1,374 $4,021 
(1)Changes in fair value of $145 million have been recorded through other comprehensive income, see Note 9 - Property, plant and equipment for more details.
During the second quarter of 2026, Brookfield Renewable, together with its institutional partners, mutually agreed with a counterparty not to proceed with the sale of a 633 MW operating solar asset in India. As a result, the asset no longer meets the criteria under IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. Brookfield Renewable continues to consolidate this asset.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
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6. RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
RISK MANAGEMENT
Brookfield Renewable’s activities expose it to a variety of financial risks, including market risk (i.e., commodity price risk, interest rate risk, and foreign currency risk), credit risk and liquidity risk. Brookfield Renewable uses financial instruments primarily to manage these risks.
There have been no other material changes in exposure to the risks Brookfield Renewable is exposed to since the December 31, 2025 audited consolidated financial statements.
Fair value disclosures
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Fair values determined using valuation models require the use of assumptions concerning the amount and timing of estimated future cash flows and discount rates. In determining those assumptions, management looks primarily to external readily observable market inputs such as interest rate yield curves, currency rates, commodity prices and, as applicable, credit spreads.
A fair value measurement of a non-financial asset is the consideration that would be received in an orderly transaction between market participants, considering the highest and best use of the asset.
Assets and liabilities measured at fair value are categorized into one of three hierarchy levels, described below. Each level is based on the transparency of the inputs used to measure the fair values of assets and liabilities.
Level 1 – inputs are based on unadjusted quoted prices in active markets for identical assets and liabilities;
Level 2 – inputs, other than quoted prices in Level 1, that are observable for the asset or liability, either directly or indirectly; and
Level 3 – inputs for the asset or liability that are not based on observable market data.
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September 30, 2026
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The following table presents Brookfield Renewable's assets and liabilities including energy derivative contracts, power purchase agreements accounted for under IFRS 9, interest rate swaps, foreign exchange swaps and tax equity measured and disclosed at fair value classified by the fair value hierarchy:
September 30, 2026December 31, 2025
(MILLIONS)Level 1Level 2Level 3TotalTotal
Assets measured at fair value:
Cash and cash equivalents$2,657 $— $— $2,657 $2,093 
Restricted cash(1)
599 — — 599 368 
Financial instrument assets(1)
IFRS 9 PPAs— — 225 225 452 
Energy derivative contracts— 62 — 62 111 
Interest rate swaps— 829 — 829 267 
Foreign exchange swaps— 64 — 64 37 
Tax equity — — 697 697 120 
Investments in debt and equity securities(2)
— 32 4,519 4,551 3,424 
Property, plant and equipment— — 75,501 75,501 70,456 
Liabilities measured at fair value:
Financial instrument liabilities(1)
IFRS 9 PPAs— (17)(1,609)(1,626)(788)
Energy derivative contracts— (89)— (89)(154)
Interest rate swaps— (43)— (43)(131)
Foreign exchange swaps— (864)— (864)(427)
Tax equity— — (1,082)(1,082)(968)
Contingent consideration(1)(3)
— — (78)(78)(96)
Liabilities for which fair value is disclosed:
Corporate borrowings(1)
(4,095)(1,120)— (5,215)(3,686)
Non-recourse borrowings(1)
(1,636)(35,499)— (37,135)(31,540)
Total$(2,475)$(36,645)$78,173 $39,053 $39,538 
(1)Includes both the current amount and long-term amounts.
(2)Excludes $402 million (2025: $341 million) of investments in debt securities measured at amortized cost.
(3)Amount relates to business combinations and asset acquisitions completed between 2022 and 2025 with obligations lapsing from 2026 to 2027.


Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
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Financial instruments disclosures
The aggregate amount of Brookfield Renewable's net financial instrument positions are as follows:
September 30, 2026December 31, 2025
(MILLIONS)AssetsLiabilitiesNet Assets
(Liabilities)		Net Assets
(Liabilities)
IFRS 9 PPAs$225 $1,626 $(1,401)$(336)
Energy derivative contracts62 89 (27)(43)
Interest rate swaps829 43 786 136 
Foreign exchange swaps64 864 (800)(390)
Investments in debt and equity securities4,953 — 4,953 3,765 
Tax equity697 1,082 (385)(848)
Total6,830 3,704 3,126 2,284 
Less: current portion1,004 1,017 (13)(313)
Long-term portion$5,826 $2,687 $3,139 $2,597 
(a)   Energy derivative contracts and IFRS 9 PPAs
Brookfield Renewable has entered into long-term energy derivative contracts primarily to stabilize or eliminate the price risk on the sale of certain future power generation. Certain energy contracts are recorded in Brookfield Renewable's interim consolidated financial statements at an amount equal to fair value, using quoted market prices or, in their absence, a valuation model using both internal and third-party evidence and forecasts.
(b)   Interest rate hedges
Brookfield Renewable has entered into interest rate hedge contracts primarily to minimize exposure to interest rate fluctuations on its variable rate debt or to lock in interest rates on future debt refinancing. All interest rate hedge contracts are recorded in the interim consolidated financial statements at fair value.
(c)   Foreign exchange swaps
Brookfield Renewable has entered into foreign exchange swaps to minimize its exposure to currency fluctuations impacting its investments and earnings in foreign operations, and to fix the exchange rate on certain anticipated transactions denominated in foreign currencies.
(d)   Tax equity
Brookfield Renewable owns and operates certain projects in the U.S. under tax equity structures to finance the construction of utility-scale solar and wind projects. In accordance with the substance of the contractual agreements, the amounts paid by the tax equity investors for their equity stakes are classified as financial instrument liabilities on the consolidated statements of financial position.
Gains or losses on the tax equity liabilities are recognized within the foreign exchange and financial instruments gain (loss) in the consolidated statements of income (loss).
(e)   Investments in debt and equity securities
Brookfield Renewable's investments in debt and equity securities are classified as FVPL, FVOCI and amortized cost.

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September 30, 2026
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The following table reflects the gains (losses) included in Foreign exchange and financial instruments gain (loss) in the consolidated statements of income (loss) for the three and nine months ended September 30:
Three months ended September 30Nine months ended September 30
(MILLIONS)2026202520262025
Energy derivative contracts$(17)$8 $(12)$31 
IFRS 9 PPAs(42)(119)(200)(93)
Investment in debt and equity securities39 58 164 122 
Interest rate swaps26 (3)38 (21)
Foreign exchange swaps(20)20 (82)(205)
Tax equity561 132 960 346 
Foreign exchange gain (loss)50 (30)(47)390 
$597 $66 $821 $570 
The following table reflects the gains (losses) included in other comprehensive income in the consolidated statements of comprehensive income (loss) for the three and nine months ended September 30:
Three months ended September 30Nine months ended September 30
(MILLIONS)2026202520262025
Energy derivative contracts$(4)$12 $(32)$4 
IFRS 9 PPAs(694)(245)(859)(111)
Interest rate swaps433 28 454 (78)
Foreign exchange swaps16 2 14 5 
(249)(203)(423)(180)
Foreign exchange swaps – net investment(160)(94)(417)(564)
Investments in debt and equity securities998 — 1,581 1 
$589 $(297)$741 $(743)
The following table reflects the reclassification adjustments recognized in net income (loss) in the consolidated statements of comprehensive income (loss) for the three and nine months ended September 30:
Three months ended September 30Nine months ended September 30
(MILLIONS)2026202520262025
Energy derivative contracts$7 $(13)$27 $(6)
IFRS 9 PPAs13 102 37 109 
Interest rate swaps(3)(10)(19)(24)
Foreign exchange swaps— (2)— — 
$17 $77 $45 $79 
7. SEGMENTED INFORMATION
Brookfield Renewable’s Chief Executive Officer and Chief Financial Officer (collectively, the chief operating decision maker or “CODM”) review the results of the business, manage operations, and allocate resources based on the type of technology.
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 (nuclear services, renewable natural gas, carbon capture and storage, recycling, cogeneration, eFuels and power transformation), and 6) corporate - with hydroelectric further segmented by geography (i.e., North America, Colombia, and Brazil). This best reflects the way in which the CODM reviews results of Brookfield Renewable.
Reporting to the CODM on the measures utilized to assess performance and allocate resources is provided on a proportionate basis. Information on a proportionate basis reflects Brookfield Renewable’s share from facilities which it accounts for using consolidation and the equity method whereby Brookfield Renewable either controls or exercises significant influence or joint control over the investment, respectively. Proportionate information provides a Unitholder
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September 30, 2026
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(holders of the GP interest, Redeemable/Exchangeable partnership units, BEPC exchangeable shares, class A.2 exchangeable shares and LP units) perspective that the CODM considers important when performing internal analyses and making strategic and operating decisions. The CODM 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.
Proportionate financial information is not, and is not intended to be, presented in accordance with IFRS. Tables reconciling IFRS data with data presented on a proportionate consolidation basis have been disclosed. Segment revenues, other income, direct operating costs, interest expense, current income taxes, and other are items that will differ from results presented in accordance with IFRS as these items (1) include Brookfield Renewable’s proportionate share of earnings from equity-accounted investments and its financial asset in nuclear services, 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 items that are considered within Brookfield Renewable’s measure of return on invested capital, including but 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.
Brookfield Renewable does not control those entities that have not been consolidated and as such, have been presented as equity-accounted investments in its consolidated financial statements. The presentation of the assets and liabilities and revenues and expenses does not represent Brookfield Renewable’s legal claim to such items, and the removal of financial statement amounts that are attributable to non-controlling interests does not extinguish Brookfield Renewable’s legal claims or exposures to such items.
Brookfield Renewable reports its results in accordance with these segments and presents prior period segmented information in a consistent manner.
Brookfield Renewable uses Funds From Operations (“FFO”) to assess the performance of Brookfield Renewable 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 gain or loss from equity-accounted investments, and other non-cash items) as these are not reflective of the performance of the underlying business, and including monetization of tax attributes at certain development projects. Brookfield Renewable includes realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term within FFO 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 current period net income.
The accounting policies of the reportable segments are the same as those described in Note 1 – Basis of preparation and material accounting policy information. Brookfield Renewable analyzes the performance of its operating segments based on FFO. FFO is not a generally accepted accounting measure under IFRS and therefore may differ from definitions of FFO 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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The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income (loss) on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended September 30, 2026:
Attributable to Unitholders
Contribution from equity-accounted investments(5)
Attributable to non-controlling interests and other(4)
 As per
IFRS
financials
HydroelectricWindUtility-scale solarDistributed energy & storageSustainable solutionsCorporateTotal
(MILLIONS)North
America		BrazilColombia
Revenues$242 $55 $194 $128 $146 $48 $155 $— $968 $(228)$1,040 $1,780 
Other income(3)
150 3 41 27 111 16 6 — 354 (6)(273)75 
Direct operating costs(167)(18)(125)(60)(32)(23)(132)(12)(569)156 (600)(1,013)
Share of revenue, other income and direct operating costs from equity-accounted investments(1)
— — — — — — — — — 78 — 78 
225 40 110 95 225 41 29 (12)753 — 167 
Management service costs— — — — — — — (63)(63)— — (63)
Interest expense(72)(2)(78)(31)(33)(9)(6)(64)(295)24 (436)(707)
Current income tax (9)(2)2 (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(1)
— — — — — — — — — (28)— (28)
Share of Funds From Operations attributable to non-controlling interests(2)
— — — — — — — — — — 330 330 
Funds From Operations144 36 34 56 187 31 23 (165)346 — — 
Depreciation
(587)
Foreign exchange and financial instrument gain597 
Deferred income tax84 
Other
(436)
Share of losses from equity-accounted investments(1)
(60)
Net loss attributable to non-controlling interests(2)
(258)
Net loss attributable to Unitholders(6)
$(314)
(1)Share of losses from equity-accounted investments of $10 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of earnings lines.
(2)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 (loss) attributable to non-controlling interests.
(3)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). See Note 4 - Disposal of assets and Note 6 - Risk management and financial instruments for further details.
(4)Amounts attributable to non-controlling interests and other associated with Other income (loss) of $273 million includes the removal of the aforementioned items in footnote 3 that are included in FFO but excluded from Other income on the consolidated statement of income (loss).
(5)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.
(6)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.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 20

The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income (loss) on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended September 30, 2025:
Attributable to UnitholdersContribution from equity-accounted investments
Attributable
 to non-
 controlling
 interests and other(4)
 As per
IFRS
financials
HydroelectricWindUtility-scale solarDistributed energy & storageSustainable solutionsCorporateTotal
(MILLIONS)North
America		BrazilColombia
Revenues$224 $48 $73 $116 $174 $68 $123 $— $826 $(208)$978 $1,596 
Other income(3)
19 2 — 29 35 57 21 24 187 (32)164 319 
Direct operating costs(116)(18)(27)(56)(37)(24)(97)(9)(384)127 (464)(721)
Share of revenue, other income and direct operating costs from equity-accounted investments(1)
— — — — — — — — — 113 5 118 
127 32 46 89 172 101 47 15 629 — 683 
Management service costs— — — — — — — (57)(57)— — (57)
Interest expense(66)(2)(17)(39)(38)(11)(8)(52)(233)27 (380)(586)
Current income tax (1)(1)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(1)
— — — — — — — — — (29)(5)(34)
Share of Funds From Operations attributable to non-controlling interests(2)
— — — — — — — — — — (306)(306)
Funds From Operations60 29 30 47 130 89 38 (121)302 — — 
Depreciation
(611)
Foreign exchange and financial instrument gain66 
Deferred income tax66 
Other
(20)
Share of losses from equity-accounted investments(1)
(94)
Net income attributable to non-controlling interests(2)
171 
Net loss attributable to Unitholders(5)
$(120)
(1)Share of losses from equity-accounted investments of $10 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of loss lines.
(2)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.
(3)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 instrument 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). See Note 6 - Risk management and financial instruments for further details.
(4)Amounts attributable to non-controlling interests and other associated with Other income (loss) of $164 million includes the removal of the aforementioned items in footnote 3 that are included in FFO but excluded from Other income on the consolidated statement of income (loss).
(5)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.


Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 21


The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income (loss) on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the nine months ended September 30, 2026:
Attributable to Unitholders
Contribution from equity-accounted investments(5)
Attributable
 to non-
 controlling
 interests and other(4)
As per
IFRS
financials
HydroelectricWindUtility-scale solarDistributed generation & storageSustainable solutionsCorporateTotal
(MILLIONS)North
America		BrazilColombia
Revenues$872 $176 $471 $429 $380 $136 $461 $— $2,925 $(696)$2,775 $5,004 
Other income(3)
397 8 43 102 261 57 45 43 956 (69)(428)459 
Direct operating costs(466)(55)(242)(185)(103)(68)(384)(38)(1,541)450 (1,484)(2,575)
Share of revenue, other income and direct operating costs from equity-accounted investments(1)
— — — — — — — — — 315 — 315 
803 129 272 346 538 125 122 5 2,340 — 863 
Management service costs— — — — — — — (213)(213)— — (213)
Interest expense(208)(5)(198)(106)(98)(24)(22)(183)(844)65 (1,225)(2,004)
Current income tax(21)(7)(5)(15)(11)(2)(3)— (64)9 9 (46)
Distributions attributable to
Preferred limited partners equity
— — — — — — — (24)(24)— — (24)
Preferred equity
— — — — — — — (23)(23)— — (23)
Perpetual subordinated notes— — — — — — — (30)(30)— — (30)
Share of interest and cash taxes from equity-accounted investments(1)
— — — — — — — — — (74)— (74)
Share of Funds From Operations attributable to non-controlling interests(2)
— — — — — — — — — — 353 353 
Funds From Operations
574 117 69 225 429 99 97 (468)1,142 — — 
Depreciation
(1,693)
Foreign exchange and financial instrument gain821 
Deferred income tax90 
Other
(841)
Share of losses from equity-accounted investments(1)
(185)
Net loss attributable to non-controlling interests(2)
(90)
Net loss attributable to Unitholders(6)
$(756)
(1)Share of earnings from equity-accounted investments of $56 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of earnings lines.
(2)Net loss attributable to participating non-controlling interests – in operating subsidiaries of $263 million is comprised of amounts found on share of Funds From Operations attributable to non-controlling interests and Net income (loss) attributable to non-controlling interests.
(3)Other income in FFO of $956 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). See Note 4 - Disposal of assets and Note 6 - Risk management and financial instruments for further details.
(4)Amounts attributable to non-controlling interests and other associated with Other income (loss) of $428 million includes the removal of the aforementioned items in footnote 3 that are included in FFO but excluded from Other income on the consolidated statement of income (loss).
(5)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.
(6)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.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 22

The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income (loss) on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the nine months ended September 30, 2025:
Attributable to UnitholdersContribution
 from
equity-accounted
 investments
Attributable
 to non-
 controlling
 interests and other(4)
As per
IFRS
financials
HydroelectricWindUtility-scale solarDistributed energy & storageSustainable solutionsCorporateTotal
(MILLIONS)North
America		BrazilColombia
Revenues$856 $148 $211 $427 $396 $188 $431 $— $2,657 $(699)$2,910 $4,868 
Other income(3)
42 7 1 94 114 161 48 38 505 (130)176 551 
Direct operating costs(372)(50)(76)(177)(108)(69)(325)(31)(1,208)420 (1,307)(2,095)
Share of revenue, other income and direct operating costs from equity-accounted investments(1)
—————————409 15424 
526 105 136 344 402 280 154 7 1,954 — 1,794 
Management service costs— — — — — — — (162)(162)— — (162)
Interest expense(201)(8)(56)(119)(101)(31)(24)(146)(686)72 (1,205)(1,819)
Current income tax(4)(5)(6)(8)(8)(2)(6)(1)(40)11 86 57 
Distributions attributable to
Preferred limited partners equity
— — — — — — — (26)(26)— — (26)
Preferred equity
— — — — — — — (22)(22)— — (22)
Perpetual subordinated notes— — — — — — — (30)(30)— — (30)
Share of interest and cash taxes from equity-accounted investments
— — — — — — — — — (83)(15)(98)
Share of Funds From Operations attributable to non-controlling interests(2)
——————————(660)(660)
Funds From Operations321 92 74 217 293 247 124 (380)988 — — 
Depreciation
(1,803)
Foreign exchange and financial instrument gain570 
Deferred income tax292 
Other
(342)
Share of losses from equity-accounted investments(1)
(409)
Net income attributable to non-controlling interests(2)
275 
Net loss attributable to Unitholders(5)
$(429)
(1)Share of losses from equity-accounted investments of $83 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of loss lines.
(2)Net income attributable to participating non-controlling interests – in operating subsidiaries of $385 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.
(3)Other income in FFO of $505 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 instrument 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). See Note 6 - Risk management and financial instruments for further details.
(4)Amounts attributable to non-controlling interests and other associated with Other income (loss) of $176 million includes the removal of the aforementioned items in footnote 3 that are included in FFO but excluded from Other income on the consolidated statement of income (loss).
(5)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.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 23

The following table provides information on each segment's statement of financial position in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of financial position by aggregating the components comprising from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests:
Attributable to UnitholdersContribution from equity-accounted investmentsAttributable
to non-
controlling
interests		As per
IFRS
financials
HydroelectricWindUtility-scale solarDistributed energy & storageSustainable solutionsCorporateTotal
(MILLIONS)North
America		BrazilColombia
As at September 30, 2026
Cash and cash equivalents$118 $93 $88 $343 $67 $74 $57 $23 $863 $(112)$1,906 $2,657 
Property, plant and equipment14,359 1,459 5,835 6,281 3,875 2,017 345 — 34,171 (2,666)43,996 75,501 
Total assets15,437 1,740 7,060 8,355 5,536 2,650 3,592 138 44,508 (2,231)63,067 105,344 
Total liabilities9,798 503 4,554 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$200 $46 $19 $268 $169 $136 $40 $85 $963 $(141)$1,271 $2,093 
Property, plant and equipment15,227 1,428 5,765 5,464 3,684 1,700 326 — 33,594 (2,503)39,365 70,456 
Total assets16,492 1,687 6,305 7,545 6,041 2,576 1,801 169 42,616 (2,056)58,141 98,701 
Total liabilities10,035 520 4,075 5,811 4,264 1,833 311 4,941 31,790 (2,056)33,993 63,727 


Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 24

Geographical Information
The following table presents consolidated revenue split by reportable segment for the three and nine months ended September 30:
Three months ended September 30Nine months ended September 30
(MILLIONS)2026202520262025
Hydroelectric
North America$311 $274 $1,051 $987 
Brazil56 49 180 155 
Colombia521 323 1,255 932 
888 646 2,486 2,074 
Wind373 331 1,112 1,208 
Utility-scale solar344 394 939 1,030 
Distributed energy & storage175 220 467 551 
Sustainable solutions— 5 — 5 
$1,780 $1,596 $5,004 $4,868 
The following table presents consolidated property, plant and equipment and equity-accounted investments split by geography region:
(MILLIONS)September 30, 2026December 31, 2025
United States$30,859 $30,427 
Colombia15,568 15,375 
Canada11,247 7,974 
Brazil4,781 4,648 
Europe7,117 6,032 
Asia–Pacific9,691 8,954 
Other859 1,133 
$80,122 $74,543 

8. INCOME TAXES
Brookfield Renewable's effective income tax rate was 1.1% and 4.5% for the three and nine months ended September 30, 2026 (2025: 275.0% and 110.8%). The effective tax rate is different than the statutory rate primarily due to changes in tax assets not recognized, investment and production tax credits, non-controlling interest income not subject to tax, and rate differentials.



Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 25

9. PROPERTY, PLANT AND EQUIPMENT
The following table presents a reconciliation of property, plant and equipment at fair value:
(MILLIONS)HydroelectricWindSolar
Other(1)
Total(2)(3)
Property, plant and equipment, at fair value
As at December 31, 2025
$35,782 $14,524 $11,217 $2,694 $64,217 
Additions, net63 141 (19)16 201 
Transfer from construction work-in-progress26 430 1,017 187 1,660 
Acquisitions through business combinations549 3,741 409 691 5,390 
Disposals(1,931)(129)(16)— (2,076)
Transfer to assets held for sale, net(4)
(1,033)(665)(541)— (2,239)
Items recognized through OCI:
Change in fair value170 9 25 (3)201 
Foreign exchange1,659 33 94 63 1,849 
Items recognized through net income:
Change in fair value— (10)(56)— (66)
Depreciation(511)(651)(444)(87)(1,693)
As at September 30, 2026
$34,774 $17,423 $11,686 $3,561 $67,444 
Construction work-in-progress
As at December 31, 2025
$341 $2,449 $3,115 $334 $6,239 
Additions96 1,213 2,193 622 4,124 
Transfer to property, plant and equipment(26)(430)(1,017)(187)(1,660)
Acquisitions through business combinations— 27 25 111 163 
Transfer to assets held for sale — — (46)— (46)
Items recognized through OCI:
Change in fair value— (203)(61)92 (172)
Foreign exchange2 (23)(22)(10)(53)
Items recognized through net income (loss):
Change in fair value(5)
— (139)(399)— (538)
As at September 30, 2026
$413 $2,894 $3,788 $962 $8,057 
Total property, plant and equipment, at fair value
As at December 31, 2025(2)(3)
$36,123 $16,973 $14,332 $3,028 $70,456 
As at September 30, 2026(2)(3)
$35,187 $20,317 $15,474 $4,523 $75,501 
(1)Includes battery storage.
(2)Includes right-of-use assets not subject to revaluation of $69 million (2025: $42 million) in hydroelectric, $447 million (2025: $297 million) in wind and $576 million (2025: $531 million) in solar.
(3)Includes land not subject to revaluation of $148 million (2025: $208 million) in hydroelectric, $62 million (2025: $47 million) in wind, $155 million (2025: $149 million) in solar, and $16 million (2025: $6 million) in other.
(4)Includes $257 million of property, plant and equipment that has been reclassified from assets held for sale during the second quarter of 2026. Refer to Note 5 - Assets held for sale, for more details.
(5)Includes changes in fair value primarily related to the recognition of investment tax credits of $538 million in recently acquired development projects, recognized within Other in the consolidated statements of income (loss), for the nine months ended September 30, 2026.

During the period, Brookfield Renewable, together with its institutional partners, completed the acquisitions of the following investments. They are accounted for as asset acquisitions as they do not constitute business combinations under IFRS 3:
RegionTechnologyCapacityAmount recognized in Property, Plant and EquipmentBrookfield Renewable
Economic Interest
U.S.Distributed energy & storage
113 MW
$158 million
20%
U.S.Utility-scale solar
210 MW
$61 million
20%
U.S.Wind
201 MW
$28 million
14%
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 26

10. BORROWINGS
Corporate Borrowings
The composition of corporate borrowings is presented in the following table:
September 30, 2026December 31, 2025
Weighted-averageWeighted-average
(MILLIONS EXCEPT AS NOTED)Interest
rate (%)		Term
(years)		Carrying
value		Estimated fair valueInterest
rate (%)		Term
(years)		Carrying
value		Estimated fair value
Credit facilitiesN/A5$— $— N/A5$— $— 
Commercial paper4.2 <11,120 1,120 4.3 <1194 194 
Medium Term Notes:
Series 4 (C$150)
5.8 10105 111 5.8 11109 120 
Series 10 (C$500)
3.6 <1351 351 3.6 1364 366 
Series 11 (C$475)
4.3 2334 335 4.3 3346 354 
Series 12 (C$475)
3.4 3334 326 3.4 4346 344 
Series 13 (C$300)
4.3 23211 172 4.3 24219 193 
Series 14 (C$425)
3.3 24299 206 3.3 25310 229 
Series 15 (C$400)(1)
5.9 6281 299 5.9 7291 320 
Series 16 (C$400)
5.3 7281 290 5.3 8291 310 
Series 17 (C$500)
5.3 27351 329 5.3 28364 370 
Series 18 (C$300)
5.0 8211 212 5.0 9219 227 
Series 19 (C$450)
4.5 9316 305 4.5 10 328 328 
Series 20 (C$500)
5.2 29351 323 — — — — 
Series 21 (C$400)
5.0 10281 277 — — — — 
Series 22 (C$350)
4.3 5246 244 — — — — 
4.6 123,952 3,780 4.5123,187 3,161 
Hybrid Notes:
Fixed to fixed subordinated (C$200)
5.5 28141 140 5.529146 147 
Fixed to fixed subordinated (C$250)
5.4 29176 175 5.4 30182 184 
5.4 29317 315 5.4 30328 331 
Total corporate borrowings5,389 $5,215 3,709 $3,686 
Add: Unamortized premiums(2)
1 1 
Less: Unamortized financing fees(2)
(27)(24)
Less: Current portion(1,471)(194)
$3,892 $3,492 
(1)Includes $7 million (2025: $7 million) outstanding to an associate of Brookfield. Refer to Note 21 - Related party transactions for more details.
(2)Unamortized premiums and financing fees are amortized over the terms of the borrowing.
Credit facilities and commercial paper
Brookfield Renewable had $1,120 million of commercial paper outstanding as at September 30, 2026 (2025: $194 million).
Brookfield Renewable issues letters of credit from its corporate credit facilities for general corporate purposes which include, but are not limited to, security deposits, performance bonds and guarantees for debt service reserve accounts. See Note 20 – Commitments, contingencies and guarantees for letters of credit issued by subsidiaries.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 27

The following table summarizes the available portion of corporate credit facilities:
(MILLIONS)September 30, 2026December 31, 2025
Authorized corporate credit facilities and related party credit facilities(1)
$2,450 $2,450 
Authorized letter of credit facility450 450 
Issued letters of credit(410)(414)
Available portion of corporate credit facilities$2,490 $2,486 
(1)Amounts are guaranteed by Brookfield Renewable.
Medium-term notes and Hybrid notes
Corporate borrowings are obligations of a finance subsidiary of Brookfield Renewable, Brookfield Renewable Partners ULC (“Canadian Finco”) (Note 22 – Subsidiary public issuers). Canadian Finco may redeem some or all of the borrowings from time to time, pursuant to the terms of the indenture. The balance is payable upon maturity, and interest on corporate borrowings is paid semi-annually. The term notes payable by Canadian Finco are unconditionally guaranteed by Brookfield Renewable, Brookfield Renewable Energy L.P. (“BRELP”) and certain other subsidiaries.
During the first quarter of 2026, Brookfield Renewable issued C$500 million of Series 20 medium-term notes. The medium-term notes have a fixed interest rate of 5.20% and a maturity date of January 15, 2056. The Series 20 medium-term notes are corporate-level green bonds.
During the third quarter of 2026, Brookfield Renewable issued C$350 million Series 22 medium-term notes and C$400 million of Series 21 medium-term notes. The medium-term notes have a fixed interest rate of 4.256% and 4.949%, respectively, and have maturity dates of August 13, 2031 and August 13, 2036, respectively. Both series are corporate-level green bonds.
Non-recourse borrowings
Non-recourse borrowings are typically asset-specific, long-term, non-recourse borrowings denominated in the domestic currency of the subsidiary. Non-recourse borrowings in North America and Europe consist of both fixed and floating interest rate debt indexed to the Secured Overnight Financing Rate (“SOFR”), the Sterling Overnight Index Average (“SONIA”), the Euro Interbank Offered Rate (“EURIBOR”) and the Canadian Overnight Repo Rate Average (“CORRA”). Brookfield Renewable uses interest rate swap agreements in North America and Europe to minimize its exposure to floating interest rates. Non-recourse borrowings in Brazilian consist of floating interest rates of Taxa de Juros de Longo Prazo (“TJLP”), the Brazil National Bank for Economic Development’s long-term interest rate, or Interbank Deposit Certificate rate (“CDI”), plus a margin. Non-recourse borrowings in Colombia consist of both fixed and floating interest rates indexed to Indicador Bancario de Referencia rate (“IBR”), the Banco Central de Colombia short-term interest rate, and Colombian Consumer Price Index (“IPC”), Colombia inflation rate, plus a margin. Non-Recourse borrowings in India consist of both fixed and floating interest indexed to Prime lending rate of lender (“MCLR”). Non-recourse borrowings in China consist of floating interest rates of People's Bank of China (“PBOC”). Non-recourse borrowings in South Korea consist of both fixed and floating interest rates indexed to the certificate deposit rate published by the Korea Financial Investment Association (“KOFIA”). Non-recourse borrowings in Australia consist of both fixed and floating interest rates indexed to the Bank Bill Swap Bid Rate (“BBSY”).
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 28

The composition of non-recourse borrowings is presented in the following table:
September 30, 2026December 31, 2025
Weighted-averageWeighted-average
(MILLIONS EXCEPT AS NOTED)Interest
rate (%)		Term
(years)		Carrying
value		Estimated
fair value		Interest
rate (%)		Term
(years)		Carrying
value		Estimated
fair value
Non-recourse borrowings(1)(2)(3)
Hydroelectric7.4 9 $11,948 $11,858 6.9 8 $11,235 $11,229 
Wind4.6 9 11,116 11,081 5.0 8 8,191 8,147 
Utility-scale solar5.2 8 10,199 10,091 5.8 8 8,838 8,806 
Distributed energy & storage5.8 7 3,690 3,687 5.7 4 2,802 2,869 
Sustainable solutions7.0 3 418 418 7.4 3 489 489 
Total5.8 8 $37,371 $37,135 6.0 8 $31,555 $31,540 
Less: Unamortized premiums and discounts(4)
(160)(181)
Less: Unamortized financing fees(4)
(195)(168)
Less: Current portion(6,292)(7,384)
$30,724 $23,822 
(1)Includes $1,498 million (2025: $1,569 million) borrowed under a subscription facility of a Brookfield sponsored private fund.
(2)Includes $268 million (2025: $58 million) outstanding to an associate of Brookfield. Refer to Note 21 - Related party transactions.
(3)During the second quarter of 2025, subsidiaries of Brookfield Renewable, alongside related parties, became party to a non-recourse credit facility with third party lenders. Brookfield Renewable agreed that its subsidiaries would support their portion of any draws or repayments under the credit facility.
(4)Unamortized premiums, discounts and financing fees are amortized over the terms of the borrowing.
Supplemental Information
The following table outlines changes in Brookfield Renewable’s borrowings as at September 30, 2026:
(MILLIONS)Corporate borrowingsNon-recourse borrowings
As at December 31, 2025
$3,686 $31,206 
Net cash flows from financing activities(1)
1,823 3,129 
Non-cash
Acquisition— 2,940 
Disposal— (752)
Transfer to liabilities, directly associated with assets held for sale— (392)
Foreign exchange(148)365 
Other(2)(3)(4)
2 520 
As at September 30, 2026
$5,363 $37,016 
(1)Excludes $498 million of net cash flow from financing activities related to tax equity recorded on the consolidated statements of cash flows.
(2)Includes amortization of unamortized premiums, discounts and financing fees.
(3)Includes $30 million (2025: $545 million) of non-recourse borrowings acquired through asset acquisitions.
(4)Includes $165 million of non-recourse borrowings that has been reclassified from liabilities directly associated with assets held for sale during the second quarter of 2026. Refer to Note 5 - Assets held for sale, for more details.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 29

11. NON-CONTROLLING INTERESTS
Brookfield Renewable’s non-controlling interests are comprised of the following:
(MILLIONS)September 30, 2026December 31, 2025
Participating non-controlling interests – in operating subsidiaries$27,070 $24,164 
General partnership interest in a holding subsidiary held by Brookfield51 52 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield
2,516 2,524 
BEPC exchangeable shares and class A.2 exchangeable shares2,367 2,330 
Preferred equity544 563 
Perpetual subordinated notes737 737 
$33,285 $30,370 
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 30

Participating non-controlling interests – in operating subsidiaries
The net change in participating non-controlling interests – in operating subsidiaries is as follows:
(MILLIONS)Interests held by third partiesAs at December 31, 2025Net income
(loss)		Other
comprehensive (loss) income		Capital contributionsDistributions and return of capitalDisposalsAcquisitionsChange in OwnershipOther
As at September 30, 2026
Brookfield Americas Infrastructure Fund
 78%
$39 $— $— $— $— $— $— $— $(5)$34 
Brookfield Infrastructure Fund II
58% - 60%
1,171 (23)(29)— (655)— — — (14)450 
Brookfield Infrastructure Fund III
35% - 71%
975 (52)(87)— (2)— — — (2)832 
Brookfield Infrastructure Fund IV
75%
1,541 (32)61 34 (73)— — — (23)1,508 
Brookfield Infrastructure Fund V
50% - 72%
1,760 (110)5 1,193 (382)— — — 10 2,476 
Brookfield Infrastructure Income Fund
2% - 23%
1,092 (4)76 504 (25)(233)— — (3)1,407 
Brookfield Global Transition Fund I
77% - 80%
6,385 159 (346)1,097 (1,071)— — — (109)6,115 
Brookfield Global Transition Fund II
72% - 77%
1,607 (123)(40)1,800 (193)— — — (235)2,816 
Neoen institutional partners
38% - 40%
2,139 (78)110 640 (2)— — — (104)2,705 
Canadian Hydroelectric Portfolio50 %1,341 11 (45)— (39)— — — 1 1,269 
The Catalyst Group25 %196 9 — — (3)— — — 1 203 
Isagen institutional partners54 %4,268 5 578 — (192)— — — (1)4,658 
Isagen public non-controlling interests0.3 %24 — 3 —— — — — — 27 
Other
1.3% - 50%
1,626 (25)(17)986 (205)(470)480 231 (36)2,570 
Total$24,164 $(263)$269 $6,254 $(2,842)$(703)$480 $231 $(520)$27,070 

Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 31

General partnership interest in a holding subsidiary held by Brookfield, Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield, Class A exchangeable shares of Brookfield Renewable Corporation held by public shareholders and Brookfield Holders and Class A.2 exchangeable shares of Brookfield Renewable Holdings Corporation held by Brookfield Holders.
Brookfield, as the owner of the 1% GP interest in BRELP, is entitled to regular distributions plus an incentive distribution based on the amount by which quarterly distributions exceed specified target levels. As at September 30, 2026, to the extent that LP unit distributions exceed $0.20 per LP unit per quarter, the incentive is 15% of distributions above this threshold. To the extent that quarterly LP unit distributions exceed $0.2253 per LP unit per quarter, the incentive distribution is equal to 25% of distributions above this threshold. Incentive distributions of $41 million and $125 million were declared during the three and nine months ended September 30, 2026 (2025: $36 million and $108 million, respectively).
Consolidated equity includes Redeemable/Exchangeable partnership units, BEPC exchangeable shares, class A.2 exchangeable shares and the GP interest. The Redeemable/Exchangeable partnership units and the GP interest are held 100% by Brookfield, the BEPC exchangeable shares and class A.2 exchangeable shares are held 24% by Brookfield Holders, with the remainder held by public shareholders. The Redeemable/Exchangeable partnership units, BEPC exchangeable shares and class A.2 exchangeable shares provide the holder, at its discretion, with the right to redeem these units or shares, respectively, for cash consideration. Since this redemption right is subject to Brookfield Renewable’s right, at its sole discretion, to satisfy the redemption request with LP units of Brookfield Renewable, or in the case of class A.2 exchangeable shares, BEPC exchangeable shares or LP units, at the election of Brookfield, rather than cash, on a one-for-one basis, the Redeemable/Exchangeable partnership units, BEPC exchangeable shares and class A.2 exchangeable shares are classified as equity in accordance with IAS 32, Financial Instruments: Presentation. Refer to Note 21 - Related party transactions for more details.
The Redeemable/Exchangeable partnership units, BEPC exchangeable shares, class A.2 exchangeable shares and the GP interest are presented as non-controlling interests since they relate to equity in a subsidiary that is not attributable, directly or indirectly, to Brookfield Renewable. During the three and nine months ended September 30, 2026, exchangeable shareholders of BEPC exchanged 2,605,045 and 2,605,411 BEPC exchangeable shares, respectively (2025: 497 and 36,058 BEPC exchangeable shares, respectively) for an equivalent number of LP units amounting to $74 million and $74 million, respectively (2025: less than $1 million). No Redeemable/Exchangeable partnership units or class A.2 exchangeable shares have been redeemed.
The Redeemable/Exchangeable partnership units issued by BRELP, the BEPC exchangeable shares issued by BEPC and the class A.2 exchangeable shares issued by BRHC have the same economic attributes in all respects to the LP units issued by Brookfield Renewable, except for the redemption rights described above. The Redeemable/Exchangeable partnership units, BEPC exchangeable shares, class A.2 exchangeable shares and the GP interest, excluding incentive distributions, participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the LP units of Brookfield Renewable.
As at September 30, 2026, Redeemable/Exchangeable partnership units, BEPC exchangeable shares and class A.2 exchangeable shares on a combined basis and units of GP interest outstanding were 194,487,939 units (December 31, 2025: 194,487,939 units), 182,994,215 shares (December 31, 2025: 179,604,793 shares), and 3,977,260 units (December 31, 2025: 3,977,260 units), respectively.
During the first quarter of 2026, Brookfield Renewable established an at-the-market (“ATM”) equity program under which it may, at its discretion, offer and sell up to $400 million of BEPC exchangeable shares directly from treasury. During the three and nine months ended September 30, 2026, nil and 5,994,833, respectively, of BEPC exchangeable shares were issued for gross proceeds of approximately nil and $237 million, respectively.
In December 2025, Brookfield Renewable renewed its normal course issuer bid in connection with its outstanding BEPC exchangeable shares. Brookfield Renewable is authorized to repurchase up to 7,244,255 BEPC exchangeable shares, representing 5% of its issued and outstanding BEPC exchangeable shares. The bid will expire on December 17, 2026, or earlier should Brookfield Renewable complete its repurchases prior to such date. There were no BEPC exchangeable shares repurchased during the three and nine months ended September 30, 2026 and 2025.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 32

Distributions
The composition of the distributions for the three and nine months ended September 30 is presented in the following table:
Three months ended September 30Nine months ended September 30
(MILLIONS)2026202520262025
General partnership interest in a holding subsidiary held by Brookfield
$2 $1 $5 $5 
Incentive distribution
41 36 125 108 
43 37 130 113 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield
76 73 230 220 
BEPC exchangeable shares and class A.2 exchangeable shares held by
Brookfield Holders18 17 53 51 
External shareholders54 50 163 151 
Total BEPC exchangeable shares and class A.2 exchangeable shares72 67 216 202 
$191 $177 $576 $535 
Preferred equity
Brookfield Renewable's preferred equity consists of Class A Preference Shares of Brookfield Renewable Power Preferred Equity Inc. ("BRP Equity") as follows:
(MILLIONS EXCEPT AS NOTED)Shares
outstanding		Cumulative
distribution
rate (%)		Earliest
permitted
redemption
date
Distributions declared for the nine months ended
September 30
Carrying value as at
20262025September 30, 2026December 31, 2025
Series 1 (C$209)
8.37 5.20 April 2025$6 $6 $147 $152 
Series 2 (C$40)(1)
1.59 5.05 April 20251 2 28 29 
Series 3 (C$249)
9.96 6.52 July 20249 7 174 180 
Series 5 (C$103)
4.11 5.00 April 20183 3 72 75 
Series 6 (C$175)
7.00 5.00 July 20184 4 123 127 
31.03 $23 $22 $544 $563 
(1)Dividend rate represents annualized distribution based on the most recent quarterly floating rate.
Distributions paid during the three and nine months ended September 30, 2026, totaled $9 million and $23 million, respectively (2025: $6 million and $20 million).
The Class A Preference Shares do not have a fixed maturity date and are not redeemable at the option of the holders. As at September 30, 2026, none of the issued Class A Preference Shares have been redeemed by BRP Equity.
In December 2025, the Toronto Stock Exchange accepted notice of BRP Equity’s intention to renew the normal course issuer bid in connection with its outstanding Class A Preference Shares for another year to December 17, 2026, or earlier should the repurchases be completed prior to such date. Under this normal course issuer bid, BRP Equity is permitted to repurchase up to 10% of the total public float for each respective series of the Class A Preference Shares. There were no repurchases of Class A Preference Shares during the three and nine months ended September 30, 2026 and 2025.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 33

Perpetual subordinated notes
Brookfield Renewable's perpetual subordinated notes consists:
(MILLIONS EXCEPT AS NOTED)Notes
outstanding
Interest
rate (%)		Earliest permitted redemption date
Interest expense for the nine months ended September 30
Carrying value as at
Issuance date20262025September 30, 2026December 31, 2025
April, 2021
14.00
4.63 April, 2026$12 $12 $340 $340 
December, 2021
10.40
4.88 December, 202610 10 252 252 
March, 2024
6.00
7.25 March, 20298 8 145 145 
30.40 $30 $30 $737 $737 
Distributions paid during the three and nine months ended September 30, 2026, totaled $10 million and $30 million, respectively (2025: $10 million and $30 million, respectively).
12. PREFERRED LIMITED PARTNERS' EQUITY
Brookfield Renewable’s preferred limited partners’ equity comprises of Class A Preferred units as follows:
(MILLIONS, EXCEPT AS NOTED)Shares outstanding (millions)Cumulative distribution rate (%)Earliest permitted redemption date
Distributions declared for the nine months ended September 30
Carrying value as at
20262025September 30, 2026December 31, 2025
Series 7 (C$175)
— — January 2026$— $5 $— $128 
Series 13 (C$250)
10 6.05 April 20288 7 196 196 
Series 17 ($200)
8 5.25 March 20258 8 195 195 
Series 18 (C$150)
6 5.50 April 20274 6 115 115 
Series 19 (C$200)
8 5.75 July 20314 — 141 — 
32 $24 $26 $647 $634 
Distributions paid during the three and nine months ended September 30, 2026, totaled $8 million and $23 million, respectively (2025: $7 million and $24 million, respectively).
During the first quarter of 2026, Brookfield Renewable redeemed all of the outstanding units of Series 7 Preferred Limited Partnership units for C$175 million.
During the second quarter of 2026, Brookfield Renewable issued 8,000,000 Series 19 Preferred Limited Partnership Units (the “Series 19 Preferred Units”) at a price of C$25 per unit for gross proceeds of C$200 million. The holders of the Series 19 Preferred Units are entitled to receive a cumulative quarterly fixed distribution yielding 5.75% for the initial period ending July 31, 2031.
Class A Preferred LP Units - Normal Course Issuer Bid
In December 2025, the Toronto Stock Exchange accepted notice of Brookfield Renewable's intention to renew the normal course issuer bid in connection with the outstanding Class A Preferred Limited Partnership Units for another year to December 17, 2026, or earlier should the repurchases be completed prior to such date. Under this normal course issuer bid, Brookfield Renewable is permitted to repurchase up to 10% of the total public float for each respective series of its Class A Preferred Limited Partnership Units. No units were repurchased during the three and nine months ended September 30, 2026 and 2025.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
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13. LIMITED PARTNERS' EQUITY
Limited partners’ equity
During the first quarter of 2026, Brookfield Renewable established an at-the-market (“ATM”) equity program under which it may, at its discretion, offer and sell up to $400 million of BEPC exchangeable shares directly from treasury. During the three and nine months ended September 30, 2026, nil and 5,994,833, respectively, of BEPC exchangeable shares were issued for gross proceeds of approximately nil and $237 million, respectively.
In December 2025, Brookfield Renewable renewed its normal course issuer bid in connection with its LP units. Brookfield Renewable is authorized to repurchase up to 15,296,104 LP units, representing 5% of its issued and outstanding LP units. The bid will expire on December 17, 2026, or earlier should Brookfield Renewable complete its repurchases prior to such date. In 2026, we utilized proceeds generated from the ATM equity program to repurchase and cancel LP units. During the three and nine months ended September 30, 2026, there were nil and 5,994,833 LP units, respectively (2025: nil and 1,522,975 LP units, respectively) repurchased and cancelled under Brookfield Renewable’s normal course issuer bid at a total cost of approximately nil and $201 million, respectively (2025: nil and $34 million, respectively).
As at September 30, 2026, 302,782,274 LP units were outstanding (December 31, 2025: 305,987,962 LP units) including 81,306,919 LP units (December 31, 2025: 81,306,719 LP units) held by Brookfield Holders. Brookfield owns all general partnership interests in Brookfield Renewable representing a 0.01% interest.
During the three and nine months ended September 30, 2026, 65,603 and 183,734 LP units, respectively (2025: 71,536 and 210,756 LP units, respectively) were issued under the distribution reinvestment plan at a total value of $2 million and $5 million, respectively (2025: $2 million and $5 million, respectively).
During the three and nine months ended September 30, 2026, exchangeable shareholders of BEPC exchanged 2,605,045 and 2,605,411 BEPC exchangeable shares, respectively (2025: 497 and 36,058 BEPC exchangeable shares, respectively) for an equivalent number of LP units amounting to $74 million and $74 million, respectively (2025: less than $1 million).
As at September 30, 2026, Brookfield Holders held a direct and indirect interest of approximately 47% of Brookfield Renewable on a fully-exchanged basis. Brookfield Holders held a direct and indirect interest of 320,608,693 LP units, Redeemable/Exchangeable partnership units, BEPC exchangeable shares and class A.2 exchangeable shares, on a combined basis, and the remaining is held by public investors.
On an unexchanged basis, Brookfield Holders hold a 27% direct limited partnership interest in Brookfield Renewable, a 39% direct interest in BRELP through the ownership of Redeemable/Exchangeable partnership units, a direct 1% GP interest in BRELP and a 24% direct and indirect interest in the BEPC exchangeable shares and class A.2 exchangeable shares of BEPC as at September 30, 2026.

Distributions
The composition of distributions declared for the three and nine months ended September 30 are presented in the following table:
Three months ended September 30Nine months ended September 30
(MILLIONS)2026202520262025
Brookfield Holders$32 $28 $96 $84 
External LP unitholders87 78 260 236 
$119 $106 $356 $320 
In January 2026, distributions to unitholders were increased to $1.568 per LP unit on an annualized basis, an increase of over $0.076 per LP unit, which took effect on the distribution paid in March 2026.
Distributions paid during the three and nine months ended September 30, 2026 totaled $119 million and $355 million, respectively (2025: $109 million and $316 million, respectively).



Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 35



14. GOODWILL
The following table provides a reconciliation of goodwill for the nine months ended September 30, 2026:
(MILLIONS)Total
Balance, as at December 31, 2025
$6,019 
Acquisitions through business combinations(1)
588 
Transfer to assets held for sale(26)
Foreign exchange and other88 
Balance, as at September 30, 2026$6,669 
(1)The core goodwill of $233 million related to the Boralex acquisition is attributable to the 8 GW development pipeline. The non-core goodwill of $355 million is attributable to goodwill created as a result of applying the principles of acquisition accounting under IFRS 3 specifically related to the deferred tax liability which is measured in accordance with IAS 12 in the purchase price allocation rather than at fair value. Refer to Note 3 - Acquisitions for more details.
15. EQUITY-ACCOUNTED INVESTMENTS
The following table outlines the changes in Brookfield Renewable’s equity-accounted investments for the nine months ended September 30, 2026:
(MILLIONS)Total
Balance, as at December 31, 2025
$4,087 
Acquisitions through business combinations961 
Investments(1)
124 
Disposals(2)
(196)
Share of earnings56 
Share of other comprehensive loss(59)
Dividends received(172)
Foreign exchange translation and other(3)
(180)
Balance as at September 30, 2026
$4,621 
(1)Includes an increase in ownership as a result of the capitalization of a shareholder loan in connection with a U.K. distributed generation joint venture that was originally due from the joint venture. Refer to Note 4 - Disposal of assets for more details
(2)Includes the sale of shares in a renewable operating and development platform in India. Refer to Note 4 - Disposal of assets for more details.
(3)Includes the decrease in the underlying net assets of a strategic partnership formed with a renewable energy operator and developer in South America. Refer to Note 21 - Related party transactions for more details.
The following table presents the ownership interests and carrying values of Brookfield Renewable’s investments in associates and joint ventures, all of which are accounted for using the equity method:
Ownership InterestCarrying Value
September 30, 2026December 31, 2025September 30, 2026December 31, 2025
Hydroelectric
22%-50%
22%-50%
$416 $517 
Wind
21%-50%
25%-50%
1,789 1,016 
Utility-scale solar
21%-65%
25%-65%
1,253 1,398 
Distributed energy & storage
13%-82%
13%-67%
557 597 
Sustainable solutions
4%-67%
4%-67%
606 559 
$4,621 $4,087 
During the year, an entity that Brookfield Renewable accounts for as an equity-accounted investment agreed to the sale of a 151 MW portfolio of operating solar assets in Europe. The portfolio has been excluded from the European Renewables Portfolio in Note 5 - Assets held for sale, in accordance with IFRS 10, Consolidated Financial Statements.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 36

16. CASH AND CASH EQUIVALENTS
Brookfield Renewable’s cash and cash equivalents are as follows:
(MILLIONS)September 30, 2026December 31, 2025
Cash$1,777 $1,493 
Cash subject to restriction551 120 
Short-term deposits329 480 
$2,657 $2,093 
17. RESTRICTED CASH
Brookfield Renewable’s restricted cash is as follows:
(MILLIONS)September 30, 2026December 31, 2025
Operations$153 $202 
Credit obligations363 161 
Capital expenditures and development projects83 5 
Total599 368 
Less: non-current(146)(148)
Current$453 $220 
18. TRADE RECEIVABLES AND OTHER CURRENT ASSETS
Brookfield Renewable's trade receivables and other current assets are as follows:
(MILLIONS)September 30, 2026December 31, 2025
Trade receivables$1,105 $920 
Tax receivables425 377 
Sales taxes receivables290 208 
Prepaids and other285 244 
Inventory264 177 
Short-term deposits and advances164 142 
Collateral deposits(1)
102 151 
Current portion of contract asset76 74 
Other short-term receivables 385 249 
$3,096 $2,542 
(1)Collateral deposits are related to energy derivative contracts that Brookfield Renewable enters into in order to mitigate the exposure to wholesale market electricity prices on the future sale of uncontracted generation, as part of Brookfield Renewable's risk management strategy.
Brookfield Renewable primarily receives monthly payments for invoiced power purchase agreement revenues and has no significant aged receivables as of the reporting date. Receivables from contracts with customers are reflected in Trade receivables.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 37

19. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Brookfield Renewable's accounts payable and accrued liabilities are as follows:
(MILLIONS)September 30, 2026December 31, 2025
Accounts payable$1,318 $959 
Operating accrued liabilities711 624 
Interest payable on borrowings332 247 
LP Unitholders distributions, preferred limited partnership unit distributions, preferred
dividends payable, perpetual subordinate notes distributions and exchange shares dividends(1)
72 65 
Current portion of contract liability67 63 
Current portion of lease liabilities62 53 
Income tax payable51 85 
Other237 150 
$2,850 $2,246 
(1)Includes amounts payable only to external LP unitholders and BEPC exchangeable shareholders. Amounts payable to Brookfield Holders are included in due to related parties.

20. COMMITMENTS, CONTINGENCIES AND GUARANTEES
Commitments
In the course of its operations, Brookfield Renewable and its subsidiaries have entered into agreements for the use of water, land and dams. Payment under those agreements varies with the amount of power generated. The various agreements can be renewed and are extendable up to 2089.
In the normal course of business, Brookfield Renewable will enter into capital expenditure commitments which primarily relate to contracted project costs for various growth initiatives. As at September 30, 2026, Brookfield Renewable had $9,654 million (2025: $4,770 million) of capital expenditure commitments outstanding of which $2,840 million is payable in 2026, $4,188 million is payable in 2027, $2,460 million is payable in 2028 to 2030, and $166 million thereafter.
The following table lists the assets and portfolio of assets that Brookfield Renewable, together with institutional partners have agreed to acquire which are subject to customary closing conditions as at September 30, 2026:
RegionTechnologyCapacity Consideration Brookfield Renewable
Economic Interest 		Expected Close
South KoreaUtility-scale solar
244 MW development
KRW70 billion
($50 million)
25%
Q1 2032
ChinaWind
201 MW development
CNY533 million ($74 million)
20%Q4 2026
ChinaBattery energy storage systems
2 GW development
CNY193 million
($28 million)
8%
Q4 2026
U.S.Battery energy storage systems, utility-scale solar
3.1 GW operating and under construction
20 GW development
$3 billion
Expected 14%
Q4 2026
ColombiaUtility-scale solar
358 MW operating
COP606 billion
($189 million)
37%
Q4 2026
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 38

An integral part of Brookfield Renewable’s strategy is to participate with institutional partners in Brookfield-sponsored private equity funds that target acquisitions that suit Brookfield Renewable’s profile. In the normal course of business, Brookfield Renewable has made commitments to Brookfield-sponsored private equity funds to participate in these target acquisitions in the future, if and when identified. From time to time, in order to facilitate investment activities in a timely and efficient manner, Brookfield Renewable will fund deposits or incur other costs and expenses (including by use of loan facilities to consummate, support, guarantee or issue letters of credit) in respect of an investment that ultimately will be shared with or made entirely by Brookfield sponsored vehicles, consortiums and/or partnerships (including private funds, joint ventures and similar arrangements), Brookfield Renewable, or by co-investors.
Contingencies
Brookfield Renewable and its subsidiaries are subject to various legal proceedings, arbitrations and actions arising in the normal course of business. While the final outcome of such legal proceedings and actions cannot be predicted with certainty, it is the opinion of management that the resolution of such proceedings and actions will not have a material impact on Brookfield Renewable’s consolidated financial position or results of operations.
Brookfield Renewable, on behalf of Brookfield Renewable’s subsidiaries, and the subsidiaries themselves have provided letters of credit, which include, but are not limited to, guarantees for debt service reserves, capital reserves, construction completion and performance. The activity on the issued letters of credit by Brookfield Renewable can be found in Note 10 – Borrowings.
Brookfield Renewable, along with institutional partners, has provided letters of credit, which include, but are not limited to, guarantees for debt service reserves, capital reserves, construction completion and performance as it relates to interests in the Brookfield Americas Infrastructure Fund, the Brookfield Infrastructure Fund II, Brookfield Infrastructure Fund III, Brookfield Infrastructure Fund IV, Brookfield Infrastructure Fund V, Brookfield Global Transition Fund I, Brookfield Global Transition Fund II and The Catalytic Transition Fund. Brookfield Renewable’s subsidiaries have similarly provided letters of credit, which include, but are not limited to, guarantees for debt service reserves, capital reserves, construction completion and performance.
Letters of credit issued by Brookfield Renewable along with institutional partners and its subsidiaries were as at the following dates:
(MILLIONS)September 30, 2026December 31, 2025
Brookfield Renewable along with institutional partners$329 $93 
Brookfield Renewable's subsidiaries5,017 4,306 
$5,346 $4,399 
Guarantees
In the normal course of operations, Brookfield Renewable and its subsidiaries execute agreements that provide for indemnification and guarantees to third-parties and Brookfield Corporation, of transactions such as business dispositions, capital project purchases, business acquisitions, power marketing activities such as purchase and sale agreements, swap agreements, credit facilities of certain Brookfield private funds and that are also secured by committed capital of our third-party institutional partners, and sales and purchases of assets and services. Brookfield Renewable has also agreed to indemnify its directors and certain of its officers and employees. The nature of substantially all of the indemnification undertakings prevents Brookfield Renewable from making a reasonable estimate of the maximum potential amount that Brookfield Renewable could be required to pay third parties as the agreements do not always specify a maximum amount and the amounts are dependent upon the outcome of future contingent events, the nature and likelihood of which cannot be determined at this time. Historically, neither Brookfield Renewable nor its subsidiaries have made material payments under such indemnification agreements.
21. RELATED PARTY TRANSACTIONS
Brookfield Renewable’s related party transactions are recorded at the exchange amount and are primarily with Brookfield and its related parties.
Brookfield Corporation has provided a $400 million committed unsecured revolving credit facility maturing in December 2030 and the draws bear interest at Secured Overnight Financing Rate plus a margin of 1.80%. During the current period, there were no draws on the committed unsecured revolving credit facility provided by Brookfield Corporation.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 39

Brookfield Corporation may from time to time place funds on deposit with Brookfield Renewable, which are repayable on demand including any interest accrued. There were nil funds placed on deposit with Brookfield Renewable as at September 30, 2026 (December 31, 2025: nil). The interest expense on the Brookfield Corporation revolving credit facility and deposit for the three and nine months ended September 30, 2026 totaled nil (2025: nil).
From time to time Brookfield Renewable may enter into short-term arrangements with private funds consolidated by Brookfield or associates of Brookfield Renewable that permit such entities to place funds on deposit with Brookfield Renewable up to a limit of $750 million per deposit. Interest earned or incurred on such deposits is between the interest rate that would otherwise be payable by Brookfield Renewable under its commercial paper program or credit facilities with unrelated parties and the interest rate that would otherwise be available to the applicable depositing party in similar transactions on an arms’ length basis with unrelated parties. Each deposit carries a maturity date which must not exceed three months, however the private fund consolidated by Brookfield or associates of Brookfield Renewable may request repayment upon three business days’ written notice. As at September 30, 2026, there were $23 million (December 31, 2025: $268 million) funds placed on deposit with Brookfield Renewable, which carries an interest rate of 3.1%. Deposits placed are reflected within due to related parties on the consolidated statements of financial position. Interest expense paid on the deposits for the three and nine months ended September 30, 2026 totaled less than $1 million (2025: nil).
Brookfield Renewable participates with institutional partners in Brookfield Americas Infrastructure Fund, Brookfield Infrastructure Fund II, Brookfield Infrastructure Fund III, Brookfield Infrastructure Fund IV, Brookfield Infrastructure Fund V, Brookfield Infrastructure Income Fund, Brookfield Infrastructure Debt Fund, Brookfield Global Transition Fund I, Brookfield Global Transition Fund II, and The Catalytic Transition Fund (“Private Funds”). Brookfield Renewable, together with our institutional partners, has access to financing under Brookfield sponsored credit facilities.
From time to time, Brookfield Wealth Solutions and its related entities may agree to provide financing to Brookfield Renewable. In addition, Brookfield Wealth Solutions and its related entities may also participate, alongside unaffiliated third parties on market terms and at market rates, in capital raises undertaken by Brookfield Renewable that are recognized within preferred limited partners’ equity, corporate and non-recourse borrowings in the statement of financial position. As at September 30, 2026, Brookfield Renewable, together with its institutional partners had the following balances owing to Brookfield Wealth Solutions: $268 million of non-recourse borrowings (December 31, 2025: $58 million); $7 million of corporate borrowings (December 31, 2025: $7 million); tax equity financings classified as financial instrument liabilities of $105 million (December 31, 2025: $49 million); preferred limited partners equity of $11 million (December 31, 2025: $11 million); and $743 million of borrowings classified as due to related party (December 31, 2025: $750 million).
From time to time, Brookfield Renewable, together with its institutional partners, may enter into agreements with Brookfield and its subsidiaries to transfer income tax credits generated by renewable energy projects. During the three and nine months ended September 30, 2026, Brookfield Renewable transferred nil and nil, respectively (2025: nil and $19 million, respectively) of income tax credits to Brookfield and its subsidiaries.
During the nine months ended, September 30, 2026, an associate of Brookfield Renewable executed and transferred tax credits, under tax credit transfer agreements on market terms, to subsidiaries of Brookfield Infrastructure Partners L.P. for $46 million, an associate of Brookfield Business Corporation for $92 million, and a subsidiary of Brookfield for $19 million.
During the first quarter of 2026, as part of the finalization of the Neoen structure, certain interest bearing loans due to affiliates of Brookfield Renewable were reclassified from current to non-current and continue to be recorded within due to related parties. These loans mature in 2037. Brookfield Renewable, together with its institutional partners, participate alongside its affiliates on equivalent terms and are recognized as intercompany loans.
During the second and third quarters of 2026, Brookfield Renewable, together with its institutional partners, completed the sale of a 100% interest in a 2.1 GW portfolio of operating solar and wind assets in the U.S. for proceeds of approximately $1.2 billion ($299 million net to Brookfield Renewable), of which 33% was sold to a Brookfield Fund, at a value equivalent to what was agreed to with the unaffiliated third parties that agreed to acquire the remaining 67% interest in the portfolio. Refer to Note 4 - Disposal of assets, for more details.
Subsequent to the third quarter of 2026, Brookfield Renewable, together with its institutional partners, completed the sale of a 100% interest in a 246 MW portfolio of operating solar assets in the U.S. for proceeds of approximately $127 million ($25 million net to Brookfield Renewable), of which 33% was sold to a Brookfield Fund, at a value equivalent to what was agreed to with the unaffiliated third parties that agreed to acquire the remaining 67% interest in the portfolio. Refer to Note 23 - Subsequent events, for more details.

Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 40

During the second and third quarters of 2026, Brookfield Renewable, together with its institutional partners, completed the sale of its remaining 50% interest in a 403 MW portfolio of operating hydroelectric assets in the U.S. for proceeds of approximately $526 million ($256 million net to Brookfield Renewable), to a consortium managed by BAM at a value equivalent to the unaffiliated third party that acquired 25% of the portfolio during the first quarter of 2026. Brookfield Renewable, together with its institutional partners, were paid an earn-out of $54 million ($27 million net to Brookfield Renewable), received from a Brookfield Fund and a consortium managed by BAM, consistent with the terms of the sales agreement terms agreed upon with an unaffiliated third party. The portfolio formed part of a broader 448 MW portfolio of operating hydroelectric assets, refer to Note 4 - Disposal of assets, for more details.
During the second quarter of 2026, an entity affiliated with Brookfield Renewable completed the syndication of a 1.63% interest in Neoen for proceeds of approximately €160 million ($182 million), to a Brookfield Fund, at a value equivalent to the initial invested capital agreed to with unaffiliated third parties.
During the year, Brookfield Renewable, together with its institutional partners, agreed to the sale of a 420 MW portfolio of operating solar and wind assets in Europe for proceeds of approximately €352 million ($408 million) (€65 million ($76 million) net to Brookfield Renewable), of which 10% was agreed to be sold to a Brookfield Fund, at a value equivalent to what was agreed to with the unaffiliated third parties that agreed to acquire the remaining 90% interest in the portfolio. As part of this transaction, an associate of Brookfield Renewable agreed to sell a 151 MW portfolio of operating solar assets in Europe. The closing of this transaction is subject to customary closing conditions.
Transactions with unaffiliated partners of Brookfield Renewable associates
During the first quarter of 2026, Brookfield Renewable, together with its institutional partners, acquired a 201 MW operating wind asset in the U.S. from an associate that it accounts for using the equity method under IAS 28, Investments in Associates and Joint Ventures as part of a reorganization of the investment. Brookfield Renewable, together with its institutional partners, recognized $35 million of total assets and $35 million of total liabilities from the date of the reorganization and continues to account for its investment in the associate in accordance with IAS 28.
During the first quarter of 2026, Brookfield Renewable, together with its institutional partners, agreed to contribute its 100% interest in a 200 MW distributed generation portfolio in Spain with a fair value of approximately €116 million ($136 million) into a U.K. distributed generation joint venture with a Brookfield Renewable associate. Refer to Note 4 - Disposal of assets for further details.
During the first quarter of 2026, Isagen novated a financial obligation related to the acquisition of a utility-scale solar asset to an associate that is accounted for using the equity method under IAS 28, in accordance with the investment agreement. Upon completion of the transaction, Isagen recognized a reduction in the associate's net assets of approximately COP286 billion ($78 million) offset by the derecognition of the payable by Isagen for the same amount.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 41

The following table reflects the related party agreements and transactions for the three and nine months ended September 30 in the consolidated statements of income (loss):
Three months ended September 30Nine months ended September 30
(MILLIONS)2026202520262025
Revenues
Power purchase and revenue agreements$— $(15)$1 $9 
Development services— 9 — 23 
$— $(6)$1 $32 
Other income
Distribution income$— $15 $— $44 
Interest and other investment income28 14 75 19 
$28 $29 $75 $63 
Direct operating costs
Other related party services$(11)$(12)$(27)$(19)
Interest expense
Borrowings$(53)$(48)$(141)$(160)
Contract balance accretion(6)(5)(27)(24)
$(59)$(53)$(168)$(184)
Other
Other related party services expense$(1)$(5)$(1)$(7)
Financial instruments (loss) gain(1)2 (9)8 
$(2)$(3)$(10)$1 
Management service costs$(63)$(57)$(213)$(162)
Current income tax
Investment tax credits$— $— $— $19 

Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 42

The following table reflects the impact of the related party agreements and transactions on the consolidated statements of financial position:
(MILLIONS)Related partySeptember 30, 2026December 31, 2025
Current assets
Trade receivables and other current assets
Contract assetBrookfield$76 $74 
Due from related parties
Amounts due from
Brookfield(1)
$418 $511 
Equity-accounted investments and other(2)
498 433 
$916 $944 
Financial instrument assetsBrookfield$16 $— 
Non-current assets
Financial instrument assetsEquity-accounted investments and other84 71 
Other long-term assets
Contract assetBrookfield$157 $209 
Due from related partiesEquity-accounted investments and other19 12 
Current liabilities
Contract liabilityBrookfield$67 $63 
Financial instrument liabilitiesBrookfield Wealth Solutions4 — 
Due to related parties
Amounts due to
Brookfield(3)
$905 $4,427 
Equity-accounted investments and other269 2,476 
Brookfield Wealth Solutions123 123 
Accrued distributions payable on LP units, BEPC exchangeable shares, class A.2 exchangeable shares, Redeemable/Exchangeable partnership units and GP interestBrookfield48 45 
$1,345 $7,071 
Liabilities held for saleEquity-accounted investments and other$— $9 
Non-current liabilities
Financial instrument liabilitiesBrookfield Wealth Solutions101 49 
Due to related parties
Amounts due toBrookfield$17 $21 
Brookfield Wealth Solutions620 627 
Equity-accounted investments and other1,833 45 
$2,470 $693 
Corporate borrowingsBrookfield Wealth Solutions$7 $7 
Non-recourse borrowingsBrookfield Wealth Solutions$268 $58 
Other long-term liabilities
Contract liabilityBrookfield$670 $679 
Equity
Preferred limited partners equityBrookfield Wealth Solutions$11 $11 
(1)Includes receivables of $19 million (2025: $20 million), $6 million (2025: $6 million), and $231 million (2025: $378 million) associated with the Brookfield Infrastructure Fund III, Brookfield Infrastructure Fund IV, and Brookfield Global Transition Fund credit facilities, respectively.
(2)Includes $85 million related to the disposal of a 448 MW portfolio of operating hydroelectric assets in the U.S. Refer to Note 4 - Disposal of assets.
(3)Includes payables of $70 million (2025: $397 million), $77 million (2025: $511 million), and $239 million (2025: $2,454 million) associated with the Brookfield Infrastructure Fund IV, Brookfield Global Transition Fund, and Brookfield Global Transition Fund II credit facilities, respectively.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 43

22. SUBSIDIARY PUBLIC ISSUERS
The following tables provide consolidated summary financial information for Brookfield Renewable, BRP Equity, and Canadian Finco:
(MILLIONS)
Brookfield
Renewable(1)
BRP
Equity		Canadian Finco
Subsidiary Credit Supporters(2)
Other
Subsidiaries(1)(3)
Consolidating
adjustments(4)
Brookfield
Renewable
consolidated
As at September 30, 2026
Current assets$1 $373 $4,340 $1,457 $11,235 $(6,163)$11,243 
Long-term assets4,657 227 — 42,933 93,944 (47,660)94,101 
Current liabilities95 8 415 9,760 12,679 (8,493)14,464 
Long-term liabilities— — 3,893 23 49,116 — 53,032 
Participating non-controlling interests – in operating subsidiaries
— — — — 27,070 — 27,070 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield
— — — 2,516 — — 2,516 
BEPC exchangeable shares and class A.2 exchangeable shares— — — — 2,367 — 2,367 
Preferred equity— 544 — — — — 544 
Perpetual subordinated notes— — — 737 — — 737 
Preferred limited partners' equity
647 — — 652 — (652)647 
As at December 31, 2025
Current assets$1 $386 $3,572 $888 $12,294 $(4,843)$12,298 
Long-term assets4,686 238 1 42,326 86,282 (47,130)86,403 
Current liabilities83 8 50 8,478 21,043 (7,964)21,698 
Long-term liabilities— — 3,495 45 38,489 — 42,029 
Participating non-controlling interests – in operating subsidiaries
— — — — 24,164 — 24,164 
Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield
— — — 2,524 — — 2,524 
BEPC exchangeable shares and class A.2 exchangeable shares— — — — 2,330 — 2,330 
Preferred equity— 563 — — — — 563 
Perpetual subordinated notes— — — 737 — — 737 
Preferred limited partners' equity
634 — — 639 — (639)634 
(1)Includes investments in subsidiaries under the equity method.
(2)Includes BRELP, BRP Bermuda Holdings I Limited, Brookfield BRP Holdings (Canada) Inc., Brookfield BRP Europe Holdings Limited, Brookfield Renewable Investments Limited and BEP Subco Inc., collectively the "Subsidiary Credit Supporters".
(3)Includes subsidiaries of Brookfield Renewable, other than BRP Equity, Canadian Finco and the Subsidiary Credit Supporters.
(4)Includes elimination of intercompany transactions and balances necessary to present Brookfield Renewable on a consolidated basis.
Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 44

(MILLIONS)
Brookfield
Renewable(1)
BRP
Equity		Canadian Finco
Subsidiary Credit Supporters(2)
Other
Subsidiaries(1)(3)
Consolidating
adjustments(4)
Brookfield
Renewable
consolidated
Three months ended September 30, 2026
Revenues$— $— $— $— $1,780 $— $1,780 
Net (loss) income(148)— — (994)11 771 (360)
Three months ended September 30, 2025
Revenues$— $— $— $— $1,596 $— $1,596 
Net (loss) income(57)— — (505)287 317 42 
Nine months ended September 30, 2026
Revenues$— $— $— $— $5,004 $— $5,004 
Net (loss) income(367)— 1 (2,064)140 1,348 (942)
Nine months ended September 30, 2025
Revenues$— $— $— $— $4,868 $— $4,868 
Net (loss) income(204)— 5 (1,729)840 1,122 34 
(1)Includes investments in subsidiaries under the equity method.
(2)Includes BRELP, BRP Bermuda Holdings I Limited, Brookfield BRP Holdings (Canada) Inc., Brookfield BRP Europe Holdings Limited, Brookfield Renewable Investments Limited and BEP Subco Inc., collectively the “Subsidiary Credit Supporters”.
(3)Includes subsidiaries of Brookfield Renewable, other than BRP Equity, Canadian Finco, and the Subsidiary Credit Supporters.
(4)Includes elimination of intercompany transactions and balances necessary to present Brookfield Renewable on a consolidated basis.
See Note 10 – Borrowings for additional details regarding the medium-term borrowings issued by Canadian Finco. See Note 11 – Non-controlling interests for additional details regarding Class A Preference Shares issued by BRP Equity.
23. SUBSEQUENT EVENTS
Subsequent to the quarter, Brookfield Renewable, together with its institutional partners, completed the sale of a portfolio including 118 MW of operating hydroelectric and 100 MW of operating solar assets in Colombia for proceeds of approximately COP1,610 billion ($426 million) (COP601 billion ($159 million) net to Brookfield Renewable).
Subsequent to the quarter, Brookfield Renewable, together with its institutional partners, agreed to the sale of a 40 MW development solar asset in the U.K. for proceeds of approximately £32 million ($42 million) (£8 million ($11 million) net to Brookfield Renewable). The closing of this transaction is subject to customary closing conditions.
Subsequent to the quarter, Brookfield Renewable, together with its institutional partners, completed the sale of a 246 MW portfolio of operating solar assets in the U.S. for proceeds of approximately $127 million ($25 million net to Brookfield Renewable).
Subsequent to the quarter, Brookfield Renewable, together with its institutional partners, completed the acquisition of a 100% interest in a fully integrated developer and operator of battery energy storage systems and co-located utility-scale solar assets in the U.S., with 3.1 GW of operating and under construction assets and an over 20 GW development pipeline for equity consideration of approximately $2.9 billion ($400 million net to Brookfield Renewable).
Subsequent to the quarter, Brookfield Renewable, together with its institutional partners, completed the acquisition of a 350 MW portfolio of development wind assets in the U.K. for total consideration of approximately £28 million ($37 million) (£5 million ($7 million) net to Brookfield Renewable).
Subsequent to the quarter, Brookfield Renewable Corporation received shareholder approval to simplify its corporate structure by converting Brookfield Renewable Partners L.P. and Brookfield Renewable Corporation into one publicly traded corporation. The simplification is subject to customary regulatory approvals as well as unitholder approval.


Brookfield Renewable Partners L.P.Q3 2026 Interim Consolidated Financial Statements and Notes
September 30, 2026
Page 45

GENERAL INFORMATION 
Corporate Office
91 Front Street
1st Floor
Hamilton, HM12
Bermuda
Tel:  (441) 294-3304
https://bep.brookfield.com
Officers of Brookfield Renewable Partners L.P.'s Service Provider,
Brookfield Canada Renewable Manager LP
Connor Teskey
Chief Executive Officer
Patrick Taylor
Chief Financial Officer
Transfer Agent & Registrar
Computershare Trust Company of Canada
320 Bay Street
14th Floor
Toronto, Ontario, M5H 4A6
Tel  Toll Free: (800) 564-6253
Fax Toll Free: (888) 453-0330
www.computershare.com
Directors of the General Partner of
Brookfield Renewable Partners L.P.
Jeffrey Blidner
Dr. Sarah Deasley
Nancy Dorn
Lou Maroun
Stephen Westwell
Patricia Zuccotti
Exchange Listing
NYSE: BEP (LP units)
TSX:    BEP.UN (LP units)
NYSE: BEPC (exchangeable shares)
TSX: BEPC (exchangeable shares)
TSX:    BEP.PR.M (Preferred LP Units - Series 13)
NYSE: BEP.PR.A (Preferred LP Units - Series 17)
TSX: BEP.PR.R (Preferred LP Units - Series 18)
TSX: BEP.PR.S (Preferred LP Units - Series 19)
TSX:    BRF.PR.A (Preferred shares - Series 1)
TSX:    BRF.PR.B (Preferred shares - Series 2)
TSX:    BRF.PR.C (Preferred shares - Series 3)
TSX:    BRF.PR.E (Preferred shares - Series 5)
TSX:    BRF.PR.F (Preferred shares - Series 6)
NYSE: BEPH (Perpetual subordinated notes)
NYSE: BEPI (Perpetual subordinated notes)
NYSE: BEPJ (Perpetual subordinated notes)
Investor Information
Visit Brookfield Renewable online at
https://bep.brookfield.com for more information. The 2025 Annual Report and Form 20-F are also available online. For detailed and up-to-date news and information, please visit the News Release section.
Additional financial information is filed electronically with various securities regulators in United States and Canada through EDGAR at www.sec.gov and through SEDAR+ at www.sedarplus.ca.
Shareholder enquiries should be directed to the Investor Relations Department at (416) 649-8172 or
enquiries@brookfieldrenewable.com



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