Company: BEP
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275856
Chunk: 49

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-11-12
Form: 424B5
Chunk 49
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 result, a U.S. Holder who transfers LP Units might be allocated income, gain, loss and deduction realized by the Partnership after the date of the
transfer. Similarly, if a U.S. Holder acquires additional LP Units, such holder may be allocated income, gain, loss and deduction realized by the Partnership prior to such U.S. Holder’s ownership of such LP Units.

Section 706 of the Code generally governs allocations of items of partnership income and deductions between transferors and transferees
of partnership interests, and the Treasury Regulations provide a safe harbor allowing a publicly traded partnership to use a monthly simplifying convention for such purposes. However, it is not clear that the Partnership’s allocation method
complies with the requirements. If the Partnership’s convention were not permitted, the IRS might contend that the Partnership’s taxable income or losses must be reallocated among unitholders. If such a contention were sustained, a U.S.
Holder’s tax liabilities might be adjusted to such holder’s detriment. The General Partner is authorized to revise the Partnership’s method of allocation between transferors and transferees (as well as among LP Unitholders whose
interests otherwise vary during a taxable period).

U.S. Federal Estate Tax Consequences

If LP Units are included in the gross estate of a U.S. citizen or resident for U.S. federal estate tax purposes, then a U.S. federal estate tax
might be payable in connection with the death of such person. Individual U.S. Holders should consult their own tax advisers concerning the potential U.S. federal estate tax consequences with respect to LP Units.

Certain Reporting Requirements

A
U.S. Holder who invests more than $100,000 in the Partnership may be required to file IRS Form 8865 reporting the investment with such U.S. Holder’s U.S. federal income tax return for the year that includes the date of the investment. A U.S.
Holder may be subject to substantial penalties if it fails to comply with this and other information reporting requirements with respect to an investment in LP Units. Each U.S. Holder should consult its own tax adviser regarding such reporting
requirements.

S-27

U.S. Taxation of Tax-ExemptU.S. Holders of LP Units

Income recognized by a U.S. tax-exempt organization generally is exempt from U.S. federal
income tax, except to the extent of the organization’s “unrelated business taxable income” (“UBTI”). UBTI is defined generally as any gross income derived