Company: BEP
Filing Date: 2025-03-06
Form Type: POS AM
Source: 0001193125-25-048531
Chunk: 19

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-03-06
Form: POS AM
Chunk 19
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, there were 144,887,341 exchangeable shares outstanding. This description is in all respects subject to and qualified in its entirety by applicable law and the provisions of our
company’s articles and notice of articles (“our articles”) and the Rights Agreement entered into in connection with the closing of the Arrangement. Our articles and the Rights Agreement are filed as exhibits to the Registration
Statement of which this prospectus forms a part.

Through the rights and governance structures described in this prospectus, each
exchangeable share is intended to provide its holder with an economic return that is equivalent to that of an LP unit. Consequently, we expect that the market price of the exchangeable shares will be significantly impacted by the market price of the
LP units and the combined business performance of our company, the Partnership and their respective subsidiaries as a whole. For a more detailed description of the share capital of our company, see the BEPC Annual Report including the description of
our exchangeable shares in Exhibit 2.1 thereto.

Voting

Except as otherwise expressly provided in our articles or as required by law, each holder of exchangeable shares is entitled to receive notice
of, and to attend and vote at, all meetings of our shareholders. Each holder of exchangeable shares is entitled to cast one vote for each exchangeable share held at the record date for determination of shareholders entitled to vote on any matter.
Except as otherwise expressly provided in our articles or as required by law, the holders of exchangeable shares and BEPC class B shares will vote together and not as separate classes. See “—ClassB Shares”
below for a description of the BEPC class B shares.

Holders of exchangeable shares hold an aggregate 25% voting interest in our company.

Dividends

The holders of
exchangeable shares are entitled to receive dividends as and when declared by our board of directors subject to the special rights of the holders of any other class of shares ranking senior to the exchangeable shares with respect to priority in
payment of dividends. Each exchangeable share will receive identical dividends to the distributions paid on each LP unit. Additionally, pursuant to the amended and restated equity commitment agreement between our company and the Partnership, the
Partnership has agreed that it will not declare or pay any distribution on the LP units if on such date our company does not have sufficient funds or other assets to enable the declaration and payment of an equivalent dividend on exchangeable
shares.

Each exchangeable share entitles its holder to cumulative dividends per share in a