All data as of September 30, 2024

Brookfield Global Renewables and Sustainable Infrastructure
UCITS Fund Monthly Commentary
Global equities finished September higher amid
optimism over central bank easing and stimulus
measures from China. The MSCI World Index gained
1.87%, with North America, Asia Pacific and Europe up
2.17%, 2.09% and 0.40%, respectively. The S&P 500
Index increased 2.14%. The 10-year U.S. Treasury yieldfell to 3.78% from 3.90% at the end of August, onexpectations that the U.S. Federal Reserve is on trackfor more rate cuts in coming months, following its 50basis point cut in September. West Texas Intermediate
Crude Oil finished the month at $68.17, down from$73.55 at the end of August, while the Bloomberg
Commodity Index rose 4.86%.

With the renewable power and transition megatrend stillin its infancy, we do not see a better time to strategicallyallocate to the sector, given the compelling long-term
return proposition and the complementary nature to
traditional power and energy exposure.
We also continue to highlight the importance of diversity
within the renewables and sustainable infrastructure
universe beyond the electron. Aside from “pure-play”
renewables companies like power generators, windturbines and solar panels, the universe includes waste
management companies tied to the concept of acircular economy. We believe these companies haveshown their ability to provide diversification to arenewables portfolio.

Performance and Attribution
Performance was positive during the period. For a fullsummary of what contributed and detracted, please see
below.
Top Contributors:
 Renewable Power & Infrastructure(infrastructure-like) Positive contributions driven by outperformanceacross U.S. and European power producers.
 Clean Energy Outperformance among heating, ventilation andair conditioning (HVAC) and grid modernizationcompanies contributed to returns.
Top Detractors:
 Water & Waste Infrastructure (infrastructurelike) Select U.S. waste service stocks
underperformed during the period.
 Water & Waste Infrastructure (broader valuechain) A position in a water technology company
moderately detracted from returns during theperiod.
Portfolio Positioning and Outlook
We believe there are tremendous long-term investment
opportunities across the global renewables andsustainable infrastructure universe as corporations andgovernments continue to decarbonize the global
economy, interest rates begin to move lower, and theoverhang of political uncertainty nears clarity.

1/3All data as of September 30, 2024

Brookfield Global Renewables and Sustainable Infrastructure
UCITS Fund Monthly Commentary
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do not guarantee the suitability, quality, accuracy, timeliness and/or2/3

All data as of September 30, 2024

Brookfield Global Renewables and Sustainable Infrastructure
UCITS Fund Monthly Commentarycompleteness of their index or any data included in, related to orderived therefrom, and assume no liability in connection with the useof the foregoing. The index sponsors have no liability for any direct,
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INDEX DEFINITIONSThe Bloomberg Commodity Index is a broadly diversified index thattracks the commodities markets through commodity futures contracts.
The MSCI World Index is a free float-adjusted market-capitalizationweighted index that is designed to measure the equity market
performance of developed markets.
The S&P 500 Index is an equity index of 500 widely held, largecapitalization U.S. companies.
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West Texas Intermediate Crude Oil is a crude oil stream produced inTexas and southern Oklahoma which serves as a reference or"marker" for pricing a number of other crude streams and which istraded in the domestic spot market at Cushing, Oklahoma.

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