Company: BEP
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275856
Chunk: 32

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-11-12
Form: 424B5
Chunk 32
---
 have elected mark-to-market accounting, persons subject to special tax accounting rules under Section 451(b) of the Code, persons who hold LP Units through a partnership or other
entity classified as a partnership for U.S. federal income tax purposes, persons for whom LP Units are not a capital asset, persons who are liable for the alternative minimum tax and certain U.S. expatriates or former long-term residents of the
United States. This summary does not address any tax consequences to holders of preferred limited partnership units of the Partnership. Tax-exempt organizations are addressed separately below. The actual tax
consequences of the ownership and disposition of LP Units will vary depending on an LP Unitholder’s individual circumstances.

The
following discussion, to the extent it expresses conclusions as to the application of U.S. federal income tax law and subject to the qualifications described herein, represents the opinion of Torys LLP. Such opinion is based in part on facts
described in this Prospectus Supplement and on various other factual assumptions, representations, and determinations. Any alteration or incorrectness of such facts, assumptions, representations, or determinations could adversely affect such
opinion. Moreover, opinions of counsel are not binding upon the U.S. Internal Revenue Service (the “IRS”) or any court, and the IRS may challenge the conclusions herein and a court may sustain such challenge.

For purposes of this discussion, a “U.S. Holder” is a beneficial owner of one or more LP Units acquired pursuant to the
Offering who is for U.S. federal tax purposes: (i) an individual citizen or resident of the United States; (ii) a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) created or organized in or under
the laws of the United States, any state thereof or the District of Columbia; (iii) an estate the income of which is subject to U.S. federal income taxation regardless of its source; or (iv) a trust (a) the primary supervision of
which is subject to a court within the United States and all substantial decisions of which one or more U.S. persons have the authority to control or (b) that has a valid election in effect under applicable Treasury Regulations to be treated as
a U.S. person.

A “Non-U.S.Holder” is a beneficial owner of one or more LP
Units acquired pursuant to the Offering, other than a U.S. Holder or an entity classified as a partnership or other fiscally transparent entity for