Brookfield Global Renewables and Sustainable Infrastructure UCITS FundBrookfield Global Renewables and Sustainable Infrastructure UCITS Fund
Sustainable Investment Objective Disclosures

Summary
No significant harm to the sustainable investment objective
The Investment Manager’s approach for its sustainable investments to not cause significant
harm to any environmental or social objective includes the following guidelines: (i) full or
partial exclusion of companies that derive revenues from activities related to tobacco,
weapons, unconventional oil & gas, conventional oil & gas, coal and power generation; (ii)mitigation of the impact of fossil fuels through the binding elements of the strategy whichputs thresholds in place on the maximum level of exposure to a company’s fossil fuelactivities; and (iii) the Fund seeks to ensure that the investee companies in which it invests
follow good governance practices.
The Investment Manager takes into account the mandatory principal adverse indicators(PAI) to determine both a positive alignment to the sustainable investment objective of theFund as well as ensuring there is no significant harm to the sustainable investment
objective. In addition, the Investment Manager confirms whether each investee company isa signatory of the UN Global Compact and the associated UN Guiding Principles.
Sustainable investment objective of the financial product
The Fund’s sustainable investment objective is to have a positive environmental impact withalignment to global renewables, sustainable infrastructure activities, and / or supporting the
global transition towards a lower-carbon future. This is achieved primarily through the
Fund's ESG-focused screening processes and its investment in sustainable investments
within the meaning of Article 2(17) of SFDR, which will typically be securities of global
renewables and sustainable infrastructure companies.
These sustainable investments, in contributing to the Fund’s sustainable investment
objective, will seek to mitigate the impact of fossil fuel-based infrastructure assets whileproviding important social benefits, these investments will also seek to positively contributeto the following objectives: (i) positive environmental impact (e.g., decarbonization) on
resource consumption; (ii) affordability and equitable access to essential resources &infrastructure systems for all end consumers; and (iii) reliability, resilience, and security ofessential infrastructure systems.
Investment strategy
As outlined in the Supplement’s Investment Policy section, the Fund seeks to achieve its
investment objective and its sustainable investment objective by investing primarily in equity
securities of global renewables and sustainable infrastructure (“GRSI”) companies listed ortraded on a Recognized Market.
Proportion of investments
The Fund invests at least 80% of its assets in GRSI companies (and deemed to besustainable investments within the meaning of SFDR) and which are used to meet theFund’s sustainable investment objective. Within this commitment of 80%, 100% of theinvestments are used to meet the Fund’s sustainable investment objective and 0% qualify

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fundas environmentally sustainable under the EU Taxonomy. The Fund invests at most 20% of
its assets in Not Sustainable investments, which are defined as cash or money market
instruments which may be held as ancillary liquidity, or derivatives used for hedging
purposes.
Monitoring of sustainable investment objective
All securities of issuers are subject to sustainability analysis both before purchase and on
an ongoing basis while held in the Fund’s portfolio. The Fund’s binding elements and its
asset eligibility criteria address a company’s environmental footprint, alignment with globalorganisations and industry norms, and restricted exposure to controversial industries. The
Investment Manager reviews indicators for adverse impacts and sustainability factors at
minimum on an annual basis and also on an ad hoc basis as needed and as data is madeavailable. The Investment Manager employs the following binding elements to select theinvestments to attain the sustainable investment objective: (i) only investing in GRSI
companies; and (ii) full exclusions and partial exclusions of companies who derive revenue
from certain activities (e.g., oil & gas, coal).
Methodologies
The Investment Manager is responsible for determining whether an investment meets thecriteria for a sustainable investment. The Fund’s investment eligibility process examines
the magnitude of companies’ impact towards environmental sustainability, and theenvironmental and/or social objectives to which the Fund’s sustainable investments willcontribute are: (i) positive environmental impact (e.g., decarbonization) on resource
consumption; (ii) affordability and equitable access to essential resources & infrastructure
systems for all end consumers; and (iii) reliability, resilience, and security of essential
infrastructure systems.
The Investment Manager measures the attainment of the sustainable investment objective
through the following four key areas: (i) the positive contribution of business activities; (ii)exclusionary screening; (iii) Sustainable Development Goal (SDG) alignment, and (iv)
Weighted Average Carbon Intensity (or WACI).
Data sources and processing
In connection with its sustainable investment objective on behalf of the Fund, theInvestment Manager utilizes internal research developed from its review and analysis of
direct company materials, regulatory filings, materials published by third party
organizations and third party ESG systems that collect data from different external
providers. Data quality is ensured through company engagement and annual due diligenceon third party data providers and is processed to confirm the binding elements of thestrategy.
Limitations to methodologies and data
The Investment Manager is dependent upon information and data that may be incomplete,inaccurate or unavailable and may encounter certain limitations related to its
methodologies. These limitations could adversely affect the Investment Manager’s
methodologies relevant to a particular Fund investment or holding. Such limitations may
include the lack of uniform regulatory regimes, the lack of otherwise relevant data regarding
certain operating companies, limited transparency on the sources underlying such data,

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fundthe frequency and timeliness with which such data is made available or updated, and thelack of universally accepted ESG/Sustainability oriented metrics across industries. The
Investment Manager seeks to address these challenges by engaging directly with thecompanies and relevant industry groups, and monitoring company news regularly.
Due diligence
All issuers are subject to sustainability analysis before their securities are purchased andongoing analysis during the pendency of an investment. This includes impact on climatechange and other environmental issues, negative impacts on social and employee matters,
human rights, and the fight against corruption and bribery. The Investment Manager’s
analysis covers the following topics: (i) involvement in controversial business practices
based on internationally recognised norms, including the UN Global Compact; (ii)management of sustainability risks; (iii) a climate rating for measuring the transition to a
low-carbon economy; and (iv) compliance of companies with the objectives of the Paris
Agreement adopted under the United Nations Framework Convention on Climate Change.
In addition, the Investment Manager may also rely on the sustainability assessment of an
external provider, MSCI ESG Manager, to evaluate the above criteria.
Engagement policies
The primary means through which the Investment Manager engages with companies isregular engagement with management teams. The goal of these engagements is topersuade management teams to employ best practices around corporate governance andto incorporate strategies that promote sustainable, long-term growth. The Investment
Manager has engaged Institutional Shareholder Services Inc. (“ISS”), an independent,
third-party subject matter expert, to act as the Fund’s agent to vote proxies. The Investment
Manager believes that utilizing an independent third party’s framework and analysis helps toensure that all proxy voting decisions are made in the best interest of the Fund.
Attainment of the sustainable investment objective
The Fund does not currently have a reference benchmark designated for the purpose of
attaining the sustainable investment objective.

No significant harm to the sustainable investment objective
The Investment Manager’s approach for its sustainable investments to not cause signifcant
harm to any environmental or social objective includes the following guidelines:(1) The Fund fully excludes companies that derive revenues from activities related to:tobacco; weapons (controversial or manufacturing); unconventional oil & gas;
conventional oil & gas (exploration, extraction, or refining of oil & gas); and coal
(exploration, mining, extraction, transportation, distribution or refining).
(2) The Investment Manager has mitigated the impact of fossil fuels through the binding
elements of the strategy which puts thresholds in place on the maximum level of
exposure to fossil fuel activities undertaken by a company.

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fund

(3) The Fund seeks to ensure that the investee companies in which it invests follow good
governance practices. For example, the Fund monitors each investee company'salignment with the following frameworks (also detailed below):a. UN Global Compact;
b. UN Guiding Principles on Business and Human Rights ("UNGPs");
c. OECD Guidelines for Multinational Enterprises (as applicable); andd. ILO Conventions
The Investment Manager takes into account the mandatory principal adverse indicators(PAI) to determine that investee companies are doing no significant harm to theenvironmental or social objectives. In particular, the Fund relies on investee companies
adhering to explicit criteria (e.g., PAI 10) as well as reporting ongoing targets (e.g. PAI 1 –3) to determine both a positive alignment to the sustainable investment objective of the Fundas well as ensuring there is no significant harm to the sustainable investment objective.
Some PAIs are considered but are not binding elements for the Fund, as access to relevant
data has areas for improvement (e.g., PAI 7).
The Fund incorporates the Investment Manager’s approach to considering principal adverse
impacts on sustainability factors is implemented through the consideration of the following
PAIs:
i. GHG Emissions (1) & Carbon footprint (2)a. Limiting companies in power generation to demonstrate carbon emissions
intensity less than 354 (scope 1 & 2 grams/KWh).
b. Conducting a net zero analysis of the portfolio to determine portfolio trajectoryand engagement opportuniteis with companies that do not demonstrateprogress in reducing aboslute emissions or setting ambitious targets.
ii. Exposure to companies in active in the fossil fuel sector (3)a. Excluding or limiting companies with activities in coal or nuclear power
generation, and unconventional oil and gas.
iii. Share of non-renewable energy consumption and production (4)a. Identifying companies in positively contributing activities such as renewableenergy generation, battery & storage, as well as, clean technology supporting
the use and base load power of renwable energy generation.
iv. Exposure to controversial weapons (anti-personnel mines, cluster munitions,chemical weapons and biological weapons) (14)a. Excluding companies involved in weapons (controversial or manufacturing).
In addition, the Fund’s binding elements and its asset eligibility criteria address a company’senvironmental footprint, alignment with global organisations and industry norms, andBrookfield Global Renewables and Sustainable Infrastructure UCITS Fund

restricted exposure to controversial industries. For example, the Investment Manager uses
these exclusions to identify appropriate companies that do not have high thresholds ofcarbon intensity. For example, the Fund fully excludes companies that derive revenues
from activities related to: tobacco; weapons (controversial or manufacturing);
unconventional oil & gas; conventional oil & gas (exploration, extraction, or refining of oil &gas); and coal (exploration, mining, extraction, transportation, distribution or refining). The
Fund has additional screening criteria that is incorporated through its binding elements
which are detailed in the Fund’s Annex III. The Investment Manager reviews indicators foradverse impacts and sustainability factors at minimum on an annual basis and also on an
ad hoc basis as needed and as data is made available. The Investment Manager continuallyreviews and adjusts its approach as the availability of relevant data evolves.
Based on available information at the time of investment, the Investment Manager confirms
whether each investee company is a signatory of the UN Global Compact and theassociated UN Guiding Principles. Additionally, in the context of an incomplete anddeveloping data landscape, the Investment Manager monitors whether portfolio companies
either directly or indirectly report alignment to OECD and UN Global Compact principles
and existing policies that may address issues such as human rights, bribery and corruptions,labour rights, child labour, discrimination, health and safety, and collective bargaining.

Sustainable investment objective of the financial product
The Fund’s sustainable investment objective is to have a positive environmental impact withalignment to global renewables, sustainable infrastructure activities, and / or supporting the
global transition towards a lower-carbon future. This is achieved primarily through the
Fund's ESG-focused screening processes and its investment in sustainable investments
within the meaning of Article 2(17) of SFDR, which will typically be securities of global
renewables and sustainable infrastructure companies.
These sustainable investments, in contributing to the Fund’s sustainable investment
objective, will seek to mitigate the impact of fossil fuel-based infrastructure assets whileproviding important social benefits, these investments will also seek to positively contributeto the following objectives:
i.

positive environmental impact (e.g., decarbonization) on resource consumption;ii. affordability and equitable access to essential resources & infrastructure systems
for all end consumers; andiii.

reliability, resilience, and security of essential infrastructure systems

The Investment Manager considers all three objectives to have important social benefits,
but more explicitly through objectives (ii) and (iii) (e.g. the benefits for affordable clean
energy to low income households).
A reference benchmark has not been designated for the purpose of attaining thesustainable investment objective.

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fund

Investment strategy
As outlined in the Supplement’s Investment Policy section, the Fund seeks to achieve its
investment objective and its sustainable investment objective by investing primarily in equity
securities of global renewables and sustainable infrastructure (“GRSI”) companies listed ortraded on a Recognized Market. All securities of issuers of equities and/or corporate bonds,
as appropriate, are subject to sustainability analysis both before purchase and on an
ongoing basis while held in the Fund’s portfolio.
Additionally, the Investment Manager may also utilize sustainability assessments and dataof an external third party data providers to supplement the Investment Manager’s due
diligence process. The Investment Manager actively monitors relevant press releases,
research and news updates, in addition to the sustainability assessments of external data
providers regarding any potential violation of the ten principles of the UN Global Compact.
Please refer to the Supplement’s Investment Policy section for further details on the various
instruments which the Fund may use to achieve its investment objective and sustainable
investment objective.

Proportion of investments
The following table explains the asset allocation of the Fund’s direct investments:

The Fund commits to investing a minimum of 80% of its assets in sustainable investments,
as defined under Article 2(17) of SFDR. The Fund does not make indirect investments.

Monitoring of sustainable investment objective
The following internal and external control mechanisms are used by the Investment
Manager to select the investments to attain the Fund’s sustainable investment objective,
and also as part of the monitoring process for the Fund.
Binding Elements:
i. The Fund only invests in GRSI companies as explained above.

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fund

1. The Fund defines eligible investments (which in turn assists theInvestment Manager in determining whether a sustainable
investment has made or is making a positive contribution to aparticular environmental and/or social objective) as, at the timeof purchase, securities of any company that makes or derives
at least 50% of any of its: (i) revenues; (ii) cash flow; (iii)
regulated assets base; and/or (iv) capital expenditures from any,or a combination of, the following business activities :a. renewable energy sources, including:i. generation: wind, solar, and other forms of clean
power (e.g., biomass);
ii. batteries and storage: storage and electrification
technology (e.g., clean hydrogen); and/oriii. manufacturing: renewable energy products and/or
services.
b. electric transmission and distribution networks.
c. water and waste infrastructure, including:i. water utilities; and/or
ii. circular economy (promotion of the redesign ofproducts and systems to minimize waste andenable greater recycling, reuse of materials, andmethane capture for renewable natural gas).
d. clean technology, including grid modernization, energy
efficiency, smart grid technology and efficient materials
and equipment.
e. data storage and transmission.
ii. If a company derives recurring revenue >0% from any of the following
activities, it is excluded:
1. Tobacco: full exclusion
2. Weapons (controversial or manufacturing): full exclusion
3. Unconventional Oil & Gas: full exclusion
4. Conventional Oil & Gas (exploration, extraction, or refining of oil& gas): full exclusion
5. Coal (exploration, mining, extraction, transportation, distribution
or refining): full exclusioniii. If a company derives recurring revenue from any of the following
activities, there are partial exclusions based on the below criteria:
1. Conventional Gas Transportation: companies shall meet at least
one of the following criteria to be considered for inclusion:a. Have a SBTi target set at well-below 2°C or 1.5°C, or
have a SBTi ‘Business Ambition for 1.5°C’ commitment
b. Derive less than 5% of its revenues from oil and gasrelated activities
c. Have less than 15% of CapEx dedicated to oil and gasrelated activities and not with the objective of increasing
revenued. Have more than 15% of CapEx dedicated to contributing
activities

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fund

2. Power Generation: companies shall meet the following criteria
to be considered for inclusion:a. Coal Power Generation: <10% of revenues, cash flow,
and / or regulated asset base in base investment year
b. Natural Gas Generation: <30% of revenues, cash flow,
and / or regulated asset base in base investment year
c. Nuclear Power Generation: <30% of revenues, cash flow,
and / or regulated asset base in base investment year
d. Absolute production of or capacity for coal-based or
nuclear-based energy related products/services must not
be structurally increasinge. Absolute production of or capacity for contributing
products/services must be increasingf. Additionally, companies must meet at least one of thefollowing criteria:
i. Set its SBTi target at well-below 2°C or 1.5°C, or
have a SBTi ‘Business Ambition for 1.5°C’
commitment
ii. Derive more than 50% of its revenues fromcontributing activitiesiii. Dedicate more than 50% of its capital
expenditures to contributing activities
iv. Demonstrate carbon emissions intensity (Scope 1& 2 grams / kWh) of <354 in 2023 trending to <315in 2025 (post 2025, the company should meet oneof the previous criteria)
3. Additionally, we expect companies with meaningful generation
activities (>30% of business activities) to have GHG reduction
targets: >25% reduction target over a 10-year period.
Normative Based Screening:
Based on available information at the time of investment, the Investment Manager confirms
whether each investee company is a signatory of the UN Global Compact and theassociated UN Guiding Principles. Additionally, in the context of an incomplete anddeveloping data landscape, the Investment Manager monitors whether portfolio
companies either directly or indirectly report alignment to OECD and UN Global Compact
principles and existing policies that may address issues such as human rights, bribery andcorruptions, labour rights, child labour, discrimination, health and safety, and collective
bargaining.

Methodologies
The Investment Manager is responsible for determining whether an investment meets thecriteria for a sustainable investment. The Fund’s investment eligibility process examines themagnitude of companies’ impact towards environmental sustainability, and theenvironmental and/or social objectives to which the Fund’s sustainable investments willcontribute are:

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fundi.

positive environmental impact (e.g., decarbonization) on resource consumption;ii. affordability and equitable access to essential resources & infrastructure systems forall end consumers; andiii.

reliability, resilience, and security of essential infrastructure systems

The Investment Manager measures the attainment of the sustainable investment objective
through the following four key areas: (1) the positive contribution of business activities; (2)exclusionary screening; (3) Sustainable Development Goal (“SDG”) alignment, and (4)Weighted Average Carbon Intensity (or WACI).
(1) Positive Contribution
Determining positive contribution of business activities: the Investment Manager determinesthat a sustainable investment has made or is making a positive contribution to a particularenvironmental and/or social objective (as set in (i) to (iii) above) where, at the time ofpurchase and on an on-going basis thereafter, an investee company makes or derives atleast 50% of any of its: (i) revenues; (ii) cash flow; (iii) regulated assets base; and/or (iv)
capital expenditures from any, or a combination of, the following business activities.
i. renewable energy sources, including: generation (wind, solar, and other forms ofclean power (e.g., biomass)); batteries and storage (storage and electrification
technology (e.g., clean hydrogen)); and/or manufacturing (renewable energy
products and/or services).
ii.

electric transmission and distribution networks.

iii. water and waste infrastructure, including water utilities and/or circular economy(promotion of the redesign of products and systems to minimize waste and enable
greater recycling, reuse of materials, and methane capture for renewable naturalgas).
iv. clean technology, including grid modernization, energy efficiency, smart gridtechnology and efficient materials and equipment.
v. data storage and transmission.
The above business activities are either directly defined as sustainable activities by EU
Taxonomy standards or are determined by the Investment Manager to have similar positiveenvironmental and / or social characteristics to sustainable business activities.
The Fund’s investment process examines the magnitude of companies’ impact towards theenvironmental and / or social objectives to which the Fund’s sustainable investments willcontribute. The Investment Manager believes that these objectives must work
interdependently to achieve the best possible outcome for companies and their investors
and that companies making critical investments in resources seeking to mitigate reliance on
fossil fuel-based infrastructure while promoting clean resource consumption are integral to
the world’s transformation towards a sustainable future. The Investment Manager seeks tosupport companies that demonstrate substantially reduced investments in fossil fuelBrookfield Global Renewables and Sustainable Infrastructure UCITS Fundgeneration (specifically coal) and prioritizes companies that (i) have reduced and ultimately
exited all coal operations; or (ii) have never been involved with coal operations. In addition,
the Investment Manager believes that natural gas, as a low carbon fuel source, is apragmatic resource in the absence of renewable energy storage to ensure both anaffordable and reliable energy system.
On an annual basis, the Investment Manager reviews all investee companies held in the
Fund’s portfolio by assessing investee companies’ reported revenue, cash flow, regulated
asset base, and/or capital expenditures directly from investee company materials as a
primary source and other third party data providers as a secondary source. If an investee
company is non-compliant with the 50% threshold set out above, the Investment Manager
further assesses the investment opportunity to engage with the investee company or will
divest the Fund’s position due to a change in fundamental business activities that no longeralign with the objectives of the Fund.
(2) Exclusionary Screening
The Fund applies certain exclusions to the portfolio in order to mitigate the impact of fossil
fuels. The Investment Manager uses these exclusions to identify appropriate companies
that do not have high thresholds of carbon intensity. All screening is carried out internallyby the Investment Manager and no external sources are used to aid the screening process.
The additional screening criteria can be found in the ‘binding elements’ section of the Fund’s
Annex III.
(3) SDG Alignment
The Fund measures UN SDG alignment to assist in determining whether the Fund’s
sustainable investments meet the environmental and social objectives (listed at (i) to (iii)
above). The Investment Manager has determined that each investee company’s businessactivities, as defined above, should align with at least three of the following SDGs:






SDG 6: Clean Water & Sanitation – ensure availability and sustainable managementof water and sanitation for all
SDG 7: Affordable & Clean Energy – ensure access to affordable, reliable,
sustainable, and modern energy for all
SDG 9: Industry, Innovation & Infrastructure – build resilient infrastructure, promote
inclusive sustainable industrialization and foster innovationo Target 9.4 – upgrading infrastructure for sustainability & efficiency
SDG 12: Responsible Consumption & Production – ensure sustainable consumption
and production patternso Target 12.2 – achieve sustainable management and efficient use of natural
resourceso Target 12A – support developing countries to move towards sustainable
patterns of consumption & productiono Target 12C – rationalize inefficient fossil-fuel subsidies that encourage
wasteful consumption

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fund

SDG 13: Climate Action – take urgent action to combat climate change and its
impacts

The Investment Manager reviews investee company SDG alignment at the point ofinvestible universe inclusion and determines SDG Alignment via explicit investee company
disclosures or the Investment Manager’s self-assessment of the investee company’s
activities and alignment to the SDGs. Alignment is determined on a “yes” or “no” basis basedon the eligible investment criteria business activities that are determined to be positive
contributors to climate change adaptation and/or climate change mitigation. If an investee
company does not align to 3 of the 5 SDG’s listed above, they are not included in theinvestible universe of the Fund.
SDG alignment is also reviewed on an annual basis. If an investee company no longeraligns to 3 of the 5 SDG’s listed above, the Investment Manager assesses the investment
opportunity to engage with the investee company or will divest the Fund’s position due to achange in fundamental business activities that no longer align with the objectives of theFund.
(4) Weighted Average Carbon Intensity (or WACI)In accordance with its sustainable investment objective, the Investment Manager measures
the WACI of the Fund and the trajectory of the Fund’s WACI, for any given measurable
period (e.g. annual), and projections of the Fund’s WACI to 2030 to measure the Fund’s
potential net zero alignment. The measurement of the WACI trajectory is to determine that
the Fund is making considerable reduction efforts by measuring the individual investee
company’s contribution to the overall WACI of the Fund. The trajectory, while not limited byan underlying benchmark or specific target, is measured to demonstrate positiveenvironmental progress of the carbon intensity of investee companies. The intention of themeasurement is to demonstrate progress from any measurement period (e.g. calendar
year) through 2030, an intermediate time period to assess progress towards net zeroalignment.
The Investment Manager analyses the portfolio’s WACI and the efforts made by theunderlying investee companies. Carbon reduction efforts are ratified through internal
analysis of an investee company’s business plan alignment to positive contributing activities
to climate change adaptation and mitigation, and are supported by third party analysis suchas the Science Based Targets (SBTi). Given the eligible investment criteria for an investee
company includes physical assets that may be carbon emitting (e.g. coal power), a
significant reduction effort is constituted by achieving the following: planned investments inpositive contribution activities that lower the operational emissions of an activity and/or the
shut-down of high emitting assets. If a business activity is not a physical asset such as a
power plant or transmission line, a significant reduction effort is achieved via scope 2
emissions reduction policies leading to increased use of low to zero emission power sources
for the business activity and a stated commitment by the investee company to use more
renewable sources of power. If an investee company does not have a reduction target or
initiatives to reduce absolute emissions, the Investment Manager uses the absence of thesetargets as an opportunity to engage with the investee company further and better

Brookfield Global Renewables and Sustainable Infrastructure UCITS Fundunderstand their long-term climate and energy transition strategy. While an investee
company is not required to have an emissions reduction target, the Investment Manager
expects operational efforts by the investee company to reduce the carbon intensity ofbusiness activities.

Data sources and processing
In connection with its sustainable investment objective on behalf of the Fund, theInvestment Manager utilizes internal research developed from its review and analysis of
direct company materials, regulatory filings and materials published by organizations such
as Institutional Shareholder Services (ISS), Carbon Disclosure Project (CDP), Science
Based Targets Initiative (SBTi), and third-party ESG systems that collect data from different
external providers such as MSCI ESG Manager. Data quality is ensured through company
engagement and annual due diligence on third party data providers. The Investment
Manager primarily relies on data provided through company sustainability reports andengagement with management teams. Third party data is utilized to support bottom-up
fundamental analysis and augment the screening process and data visibility. Data isprocessed to confirm the binding elements of the strategy, in company write-ups,
investment theses, and to support proprietary valuation model inputs. We cannot
determine the proportion of data that is estimated.

Limitations to methodologies and data
In connection with its sustainable investment assessments on behalf of the Fund, theInvestment Manager is dependent upon information and data that may be incomplete,inaccurate or unavailable and may encounter certain limitations related to its
methodologies and the data available to it. These limitations could adversely affect theInvestment Manager’s methodologies relevant to a particular Fund investment or holding.
Such limitations may include the lack of uniform regulatory regimes around the globe
requiring the relevant disclosures of operating companies, the lack of otherwise relevant
data regarding certain operating companies, limited transparency on the sources
underlying such data that is available regarding certain operating companies, the frequency
and timeliness with which such data is made available or updated, and the lack ofuniversally-accepted ESG/Sustainability oriented metrics across industries. The
Investment Manager seeks to address these challenges by engaging directly with thecompanies and relevant industry groups, and monitoring company news regularly. In
addition, the Fund invests in publicly listed companies and can only act on information thatis publicly available.

Due diligence
All issuers of equities and/or corporate bonds, as appropriate, are subject to sustainability
analysis before their securities are purchased and ongoing analysis during the pendency ofan investment. This includes impact on climate change and other environmental issues,
negative impacts on social and employee matters, human rights, and the fight against
corruption and bribery. The Investment Manager’s analysis covers the following topics:(a) involvement in controversial business practices based on internationally recognised
norms, including the UN Global Compact; (b) management of sustainability risks: inBrookfield Global Renewables and Sustainable Infrastructure UCITS Fund

addition to internal ESG ratings and scores, key performance indicators (including, but notlimited to, workforce safety, carbon intensity per kilowatt hour, carbon emission
reductions from a baseline year, and the percentage of fossil fuels held as part of aportfolio) are also taken into account; (c) a climate rating for measuring the transition to a
low-carbon economy; and (d) compliance of companies with the objectives of the Paris
Agreement adopted under the United Nations Framework Convention on Climate Change.
In addition, the Investment Manager may also rely on the sustainability assessment of an
external provider, MSCI ESG Manager, to evaluate the above criteria. External data
providers collect information from companies or issuers on how they deal with the abovementioned sustainability issues and generally also assess these and make this information
available to the company. The Investment Manager actively monitors relevant press
releases, research and news updates, in addition to information in the sustainability
assessments of external data providers regarding a potential violation of the ten principles of
the UN Global Compact.

Engagement policies
The primary means through which the Investment Manager engages with companies is
direct meetings and conversations with management teams. The Investment Manager’s
staff is very well acquainted with the management teams of the companies in which theFund invests, holding hundreds of face-to-face meetings each year. The Investment
Manager regularly engages with teams on all issues, including ESG practices. The goal of
the Investment Manager’s engagements is to persuade management teams to employ bestpractices around corporate governance and to incorporate strategies that promotesustainable, long-term growth.
In addition, the Investment Manager has engaged Institutional Shareholder Services Inc.
(“ISS”), an independent, third-party subject matter expert, to act as the Fund’s agent tovote proxies. The Investment Manager has adopted ISS’ Proxy Voting Guidelines andbelieves that utilizing an independent third party’s framework and analysis helps to ensurethat all proxy voting decisions are made in the best interest of the Investment Manager’s
clients, including the Fund. While the Fund utilizes ISS to facilitate its proxy voting process,the investment team has final voting power for each proxy proposal. Economic benefit to
the Fund’s shareholders is a top concern when voting proxies, and the Investment
Manager believes that governance and sustainability considerations are integral to acompany’s ability to generate long-term returns. The Investment Manager considers
sustainability and ESG issues when evaluating proxies.
Please access our Proxy Voting and Engagement Guidelines at the following weblink:
https://publicsecurities.brookfield.com/sites/brookfield-psg-v3/files/brookfieldpsg/responsibleinvesting/Brookfield_PSG_Proxy_Voting_and_Engagement_Guidelines.pdf

Attainment of the sustainable investment objective
The Fund does not currently have a reference benchmark designated for the purpose of
attaining the sustainable investment objective.