SEGMENTED INFORMATION | SEGMENTED INFORMATION Brookfield Renewable’s Chief Executive Officer and Chief Financial Officer (collectively, the chief operating decision maker or “CODM”) review the results of the business, manage operations, and allocate resources based on the type of technology. Brookfield Renewable operations are segmented by – 1) hydroelectric, 2) wind, 3) utility-scale solar, 4) distributed energy and storage (distributed generation and pumped storage), 5) sustainable solutions (renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation), and 6) corporate - with hydroelectric further segmented by geography (i.e., North America, Colombia, and Brazil). This best reflects the way in which the CODM reviews results of our company. The reporting to the CODM was revised during the fourth quarter of 2023 to disaggregate the distributed energy & sustainable solutions business into distributed energy & storage and sustainable solutions. This change is consistent with the development of Brookfield Renewable’s business as distributed generation and sustainable solutions continue to grow as a more significant component of the business. The financial information of operating segments in the prior period has been restated to present the corresponding results of the distributed energy & storage and sustainable solutions. Reporting to the CODM on the measures utilized to assess performance and allocate resources is provided on a proportionate basis. Information on a proportionate basis reflects Brookfield Renewable’s share from facilities which it accounts for using consolidation and the equity method whereby Brookfield Renewable either controls or exercises significant influence or joint control over the investment, respectively. Proportionate information provides a Unitholder (holders of the GP interest, Redeemable/Exchangeable partnership units, BEPC exchangeable shares and LP units) perspective that the CODM considers important when performing internal analyses and making strategic and operating decisions. The CODM also believes that providing proportionate information helps investors understand the impacts of decisions made by management and financial results allocable to Brookfield Renewable’s Unitholders. Proportionate financial information is not, and is not intended to be, presented in accordance with IFRS. Tables reconciling IFRS data with data presented on a proportionate consolidation basis have been disclosed. Segment revenues, other income, direct operating costs, interest expense, depreciation, current and deferred income taxes, and other are items that will differ from results presented in accordance with IFRS as these items include Brookfield Renewable’s proportionate share of earnings from equity-accounted investments attributable to each of the above-noted items, and exclude the proportionate share of earnings (loss) of consolidated investments not held by us apportioned to each of the above-noted items. Brookfield Renewable does not control those entities that have not been consolidated and as such, have been presented as equity-accounted investments in its consolidated financial statements. The presentation of the assets and liabilities and revenues and expenses does not represent Brookfield Renewable’s legal claim to such items, and the removal of financial statement amounts that are attributable to non-controlling interests does not extinguish Brookfield Renewable’s legal claims or exposures to such items. Brookfield Renewable reports its results in accordance with these segments and presents prior period segmented information in a consistent manner. The accounting policies of the reportable segments are the same as those described in Note 1 – Basis of preparation and material accounting policy information. Brookfield Renewable analyzes the performance of its operating segments based on Funds From Operations. Funds From Operations is not a generally accepted accounting measure under IFRS and therefore may differ from definitions of Funds From Operations used by other entities, as well as the definition of funds from operations used by the Real Property Association of Canada (“REALPAC”) and the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”) . Brookfield Renewable uses Funds From Operations to assess the performance of Brookfield Renewable before the effects of certain cash items (e.g., acquisition costs and other typical non-recurring cash items) and certain non-cash items (e.g., deferred income taxes, depreciation, non-cash portion of non-controlling interests, unrealized gain or loss on financial instruments, non-cash gain or loss from equity-accounted investments, and other non-cash items) as these are not reflective of the performance of the underlying business, and including investment tax credits not allocated to tax equity partners. Brookfield Renewable includes realized disposition gains and losses on assets that we developed and/or did not intend to hold over the long-term within Funds From Operations in order to provide additional insight regarding the performance of investments on a cumulative realized basis, including any unrealized fair value adjustments that were recorded in equity and not otherwise reflected in current period net income. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income (loss) on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended June 30, 2024: Attributable to Unitholders Contribution from equity-accounted investments Attributable to non-controlling interests As per IFRS financials (1) Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total (MILLIONS) North Brazil Colombia Revenues $ 256 $ 53 $ 72 $ 154 $ 120 $ 61 $ 114 $ — $ 830 $ (194) $ 846 $ 1,482 Other income 10 1 — 41 30 12 29 50 173 (25) (86) 62 Direct operating costs (101) (19) (41) (59) (33) (19) (92) (10) (374) 130 (374) (618) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — — — — 89 — 89 165 35 31 136 117 54 51 40 629 — 386 Management service costs — — — — — — — (53) (53) — — (53) Interest expense (66) (4) (21) (29) (26) (9) (8) (39) (202) 14 (301) (489) Current income taxes (2) (1) (1) (4) — (1) (1) — (10) 3 (9) (16) Distributions attributable to Preferred limited partners equity — — — — — — — (9) (9) — — (9) Preferred equity — — — — — — — (6) (6) — — (6) Perpetual subordinated notes — — — — — — — (10) (10) — — (10) Share of interest and cash taxes from equity accounted investments — — — — — — — — — (17) — (17) Share of Funds From Operations attributable to non-controlling interests — — — — — — — — — — (76) (76) Funds From Operations 97 30 9 103 91 44 42 (77) 339 — — Depreciation (517) Foreign exchange and financial instrument gain 116 Deferred income tax expense (recovery) (3) Other (27) Share of earnings from equity-accounted investments (97) Net income attributable to non-controlling interests 35 Net income (loss) attributable to Unitholders (2) $ (154) (1) Share of loss from equity-accounted investments of $25 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controlling interests – in operating subsidiaries of $41 million is comprised of amounts found on share of Funds From Operations attributable to non-controlling interests and Net loss attributable to non-controlling interests. (2) Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units, BEPC exchangeable shares and LP units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity, preferred equity and perpetual subordinated notes. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income (loss) on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended June 30, 2023: Attributable to Unitholders Contribution from equity-accounted investments Attributable As per IFRS financials (1) Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable Solutions Corporate Total (MILLIONS) North Brazil Colombia Revenues $ 274 $ 58 $ 66 $ 129 $ 110 $ 68 $ 14 $ — $ 719 $ (50) $ 536 $ 1,205 Other income 4 2 4 42 15 2 7 22 98 (2) (35) 61 Direct operating costs (97) (18) (23) (39) (18) (17) (10) (9) (231) 26 (220) (425) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — — — — 26 — 26 181 42 47 132 107 53 11 13 586 — 281 Management service costs — — — — — — — (55) (55) — — (55) Interest expense (64) (4) (21) (24) (28) (8) (1) (32) (182) 6 (226) (402) Current income taxes (3) (2) (5) (2) (2) — — — (14) 2 (25) (37) Distributions attributable to Preferred limited partners equity — — — — — — — (10) (10) — — (10) Preferred equity — — — — — — — (6) (6) — — (6) Perpetual subordinated notes — — — — — — — (7) (7) — — (7) Share of interest and cash taxes from equity accounted investments — — — — — — — — — (8) — (8) Share of Funds From Operations attributable to non-controlling interests — — — — — — — — — — (30) (30) Funds From Operations 114 36 21 106 77 45 10 (97) 312 — — Depreciation (458) Foreign exchange and financial instrument gain (loss) 172 Deferred income tax expense 18 Other 59 Share of earnings from equity-accounted investments (5) Net income attributable to non-controlling interests (137) Net (loss) attributable to Unitholders (2) $ (39) (1) Share of earning from equity-accounted investments of $13 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of earnings lines. Net loss attributable to participating non-controlling interests – in operating subsidiaries of $167 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net loss attributable to non-controlling interests. (2) Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units, BEPC exchangeable shares and LP units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity, preferred equity and perpetual subordinated notes. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income (loss) on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the six months ended June 30, 2024: Attributable to Unitholders Contribution from equity-accounted investments Attributable As per IFRS financials (1) Hydroelectric Wind Utility-scale solar Distributed generation & storage Sustainable solutions Corporate Total (MILLIONS) North Brazil Colombia Revenues $ 559 $ 112 $ 151 $ 324 $ 213 $ 113 $ 233 $ — $ 1,705 $ (351) $ 1,620 $ 2,974 Other income 16 2 1 51 58 26 42 54 250 (31) (123) 96 Direct operating costs (204) (37) (76) (118) (64) (42) (189) (21) (751) 242 (743) (1,252) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — — — — 140 — 140 371 77 76 257 207 97 86 33 1,204 — 754 Management service costs — — — — — — — (98) (98) — — (98) Interest expense (134) (8) (43) (60) (56) (17) (9) (74) (401) 22 (586) (965) Current income taxes (3) (3) (4) (7) 1 (2) (2) — (20) 5 (29) (44) Distributions attributable to Preferred limited partners equity — — — — — — — (20) (20) — — (20) Preferred equity — — — — — — — (13) (13) — — (13) Perpetual subordinated notes — — — — — — — (17) (17) — — (17) Share of interest and cash taxes from equity accounted investments — — — — — — — — — (27) — (27) Share of Funds From Operations attributable to non-controlling interests — — — — — — — — — — (139) (139) Funds From Operations 234 66 29 190 152 78 75 (189) 635 — — Depreciation (1,019) Foreign exchange and financial instrument gain 236 Deferred income tax expense (recovery) 11 Other (39) Share of earnings from equity-accounted investments (171) Net loss attributable to non-controlling interests 73 Net loss attributable to Unitholders (2) $ (274) (1) Share of loss from equity-accounted investments of $58 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controlling interests – in operating subsidiaries of $66 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. (2) Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units, BEPC exchangeable shares and LP units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity, preferred equity and perpetual subordinated notes. The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income (loss) on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the six months ended June 30, 2023: Attributable to Unitholders Contribution Attributable As per (1) Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total (MILLIONS) North Brazil Colombia Revenues $ 609 $ 119 $ 132 $ 271 $ 198 $ 129 $ 33 $ — $ 1,491 $ (129) $ 1,174 $ 2,536 Other income 8 3 5 43 23 5 9 34 130 (7) (36) 87 Direct operating costs (206) (35) (42) (75) (45) (36) (19) (18) (476) 60 (410) (826) Share of revenue, other income and direct operating costs from equity-accounted investments — — — — — — — — — 76 — 76 411 87 95 239 176 98 23 16 1,145 — 728 — Management service costs — — — — — — — (112) (112) — — (112) Interest expense (135) (9) (39) (50) (55) (19) (2) (60) (369) 16 (443) (796) Current income taxes (4) (4) (12) (5) (4) (1) — — (30) 5 (55) (80) Distributions attributable to Preferred limited partners equity — — — — — — — (20) (20) — — (20) Preferred equity — — — — — — — (13) (13) — — (13) Perpetual subordinated notes — — — — — — — (14) (14) — — (14) Share of interest and cash taxes from equity-accounted investments — — — — — — — — — (21) — (21) Share of Funds From Operations attributable to non-controlling interests — — — — — — — — — — (230) (230) Funds From Operations 272 74 44 184 117 78 21 (203) 587 — — Depreciation (887) Foreign exchange and financial instrument gain (loss) 318 Deferred income tax recovery 37 Other 5 Share of earnings from equity-accounted investments (9) Net income attributable to non-controlling interests (122) Net loss attributable to Unitholders (2) $ (71) (1) Share of earnings from equity-accounted investments of $46 million is comprised of amounts found on the share of revenue, other income and direct operating costs, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controlling interests– in operating subsidiaries of $352 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests. (2) Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units, BEPC exchangeable shares and LP units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity, preferred equity and perpetual subordinated notes. The following table provides information on each segment's statement of financial position in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of financial position by aggregating the components comprising from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests: Attributable to Unitholders Contribution from equity-accounted investments Attributable As per Hydroelectric Wind Utility-scale solar Distributed energy & storage Sustainable solutions Corporate Total (MILLIONS) North Brazil Colombia As at June 30, 2024 Cash and cash equivalents $ 130 $ 47 $ 21 $ 164 $ 99 $ 67 $ 28 $ 3 $ 559 $ (77) $ 754 $ 1,236 Property, plant and equipment 14,851 1,353 2,259 5,734 3,588 2,443 313 — 30,541 (1,614) 32,899 61,826 Total assets 15,916 1,682 2,505 6,569 4,420 2,923 1,549 185 35,749 (1,573) 39,623 73,799 Total liabilities 9,074 542 1,537 4,410 3,481 1,748 813 4,255 25,860 (1,573) 21,531 45,818 As at December 31, 2023 Cash and cash equivalents $ 77 $ 20 $ 12 $ 225 $ 123 $ 50 $ 30 $ 3 $ 540 $ (85) $ 686 $ 1,141 Property, plant and equipment 15,134 1,694 2,490 6,024 3,635 2,386 341 — 31,704 (1,578) 33,879 64,005 Total assets 16,143 1,880 2,738 6,802 4,518 2,842 1,540 257 36,720 (1,529) 40,937 76,128 Total liabilities 9,231 531 1,645 4,727 3,484 1,705 1,126 3,159 25,608 (1,529) 22,070 46,149 Geographical Information The following table presents consolidated revenue split by reportable segment for the three and six months ended June 30: Three months ended June 30 Six months ended June 30 (MILLIONS) 2024 2023 2024 2023 Hydroelectric North America $ 313 $ 286 $ 653 $ 708 Brazil 59 66 125 133 Colombia 310 292 661 575 682 644 1,439 1,416 Wind 424 289 846 608 Utility-scale solar 259 174 488 338 Distributed energy & storage 113 92 190 156 Sustainable solutions 4 6 11 18 Total $ 1,482 $ 1,205 $ 2,974 $ 2,536 The following table presents consolidated property, plant and equipment and equity-accounted investments split by geography region: (MILLIONS) June 30, 2024 December 31, 2023 United States $ 34,640 $ 34,303 Colombia 9,696 10,585 Canada 7,146 7,483 Brazil 4,666 5,622 Europe 4,601 5,046 Asia 3,407 3,320 Other 200 192 $ 64,356 $ 66,551 |