Company: BEP
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275856
Chunk: 42

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-11-12
Form: 424B5
Chunk 42
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 the excess of such U.S. Holders’ “modified adjusted gross income” (or “adjusted gross income” in the case of
estates and trusts) over certain thresholds and (ii) such U.S. Holders’ “net investment income” (or “undistributed net investment income” in the case of estates and trusts). Net investment income generally is
expected to include an applicable U.S. Holder’s allocable share of the Partnership’s income, as well as gain realized by the U.S. Holder from a sale of LP Units. Each U.S. Holder should consult its own tax adviser regarding the
implications of the 3.8% Medicare tax for its ownership and disposition of LP Units.

Foreign Tax Credit Limitations

Each U.S. Holder generally will be entitled to a foreign tax credit with respect to such U.S. Holder’s allocable share of creditable
foreign taxes paid on the Partnership’s income and gains. Complex rules may, depending on such U.S. Holder’s particular circumstances, limit the availability or use of foreign tax credits. Gain from the sale of the Partnership’s
investments may be treated as U.S.-source gain. Consequently, a U.S. Holder may not be able to use the foreign tax credit arising from any foreign taxes imposed on such gain unless the credit can be applied (subject to applicable limitations)
against U.S. tax due on other income treated as derived from foreign sources. Certain losses that the Partnership incurs may be treated as foreign-source losses, which could reduce the amount of foreign tax credits otherwise available. The rules
relating to foreign tax credits

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and deductions are complex. Changes to the foreign tax credit rules have introduced additional requirements and limitations, although the application of some changes has been deferred, pending
further guidance. U.S. Holders are urged to consult their tax advisers regarding the implications of paying Canadian tax under the rules governing foreign tax credits and deductions.

Deduction for Qualified Business Income

Non-corporate U.S. taxpayers who have domestic “qualified business income” from a
partnership generally are entitled to deduct the lesser of such qualified business income or 20% of taxable income, subject to certain limitations. The 20% deduction is also allowed for “qualified publicly traded partnership income”. A
U.S. Holder’s allocable share of the Partnership’s income is not expected to be treated as qualified business income or as qualified publicly traded partnership income.

Section 754 Election

The
Partnership and