Company: BEP
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275856
Chunk: 44

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-11-12
Form: 424B5
Chunk 44
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 effects of the Section 754 Election.

Uniformity of LP Units

Because the Partnership cannot match transferors and transferees of LP Units, the Partnership must maintain the uniformity of the economic and
tax characteristics of LP Units to a purchaser of LP Units. In the absence of uniformity, the Partnership may be unable to comply fully with a number of U.S. federal income tax requirements. A lack of uniformity can result from a literal application
of certain Treasury Regulations to the Partnership’s Section 743(b) adjustments, a determination that the Partnership’s Section 704(c) allocations are unreasonable, or other reasons. Section 704(c) allocations would be
intended to reduce or eliminate the disparity

S-24

between tax basis and the value of the Partnership’s assets in certain circumstances, including on the issuance of additional LP Units. In order to maintain the fungibility of all LP Units
at all times, the Partnership will seek to achieve the uniformity of U.S. tax treatment for all purchasers of LP Units which are acquired at the same time and price (irrespective of the identity of the particular seller of LP Units or the time when
LP Units are issued), through the application of certain tax accounting principles that the General Partner believes are reasonable for the Partnership. However, the IRS may disagree with the Partnership and may successfully challenge its
application of such tax accounting principles. Any non-uniformity could have a negative impact on the value of LP Units.

Foreign Currency Gain or Loss

The
Partnership’s functional currency is the U.S. dollar, and the Partnership’s income or loss is calculated in U.S. dollars. It is likely that the Partnership will recognize “foreign currency” gain or loss with respect to
transactions involving non-U.S. dollar currencies. In general, foreign currency gain or loss is treated as ordinary income or loss. Each U.S. Holder should consult its own tax adviser regarding the tax
treatment of foreign currency gain or loss.

Passive Foreign Investment Companies

U.S. Holders may be subject to special rules applicable to indirect investments in foreign corporations, including an investment through the
Partnership in a PFIC. A PFIC is defined as any foreign corporation with respect to which (after applying certain look-through rules) either (i) 75% or more of its gross income for a taxable year is “passive income” or (ii) 50% or more
of its assets in any taxable year produce or are held for the production of