DUE DILIGENCE

MEETING PREPARATION

Brookfield Renewable Partners L.P. (BEP/BEPC) — N/A

2026-03-04

CONFIDENTIAL — For internal use only. This document prepares the team for due diligence meetings with the fund manager.

1. Pre-Meeting Research Summary

Prepared for DD meeting with N/A regarding Brookfield Renewable Partners L.P. (BEP/BEPC).

2. Investment DD Questions

Focus on understanding strategy, track record, and competitive advantages.

1. Walk us through your investment process from sourcing to exit.
2. How has your strategy evolved across fund vintages?
3. What is your target portfolio construction (# deals, avg check size, sector allocation)?
4. Describe your most and least successful investments. What drove outcomes?
5. How do you think about entry valuations in the current environment?
6. What is your pipeline and how do you expect to deploy this fund?
7. How do you generate proprietary deal flow?

3. Operational DD Questions

Focus on organizational stability, processes, and infrastructure.

1. Describe your organizational structure and key decision-makers.
2. What is your succession plan if a key person departs?
3. How do you value portfolio companies (methodology, frequency, third-party validation)?
4. Walk us through your reporting cadence and content.
5. What is your approach to cybersecurity and data protection?
6. Describe your compliance program and any regulatory examination history.

4. Legal DD Questions

Focus on fund terms, compliance, and potential legal risks.

1. Are there any pending or historical litigation matters?
2. What conflicts of interest exist and how are they managed?
3. Describe your allocation policy across funds and co-investment vehicles.
4. What are the key terms of the LPA that differ from market standard?
5. How are fees calculated on recycled capital?

5. ESG DD Questions

Focus on ESG integration, policies, and measurement.

1. How is ESG integrated into your investment decision-making?
2. Are you a PRI signatory? Describe your reporting process.
3. How do you assess climate risk in portfolio companies?
4. What DEI metrics do you track at the firm and portfolio level?
5. Describe any exclusion policies or negative screening criteria.

6. Red Flags to Investigate

Items requiring specific attention and follow-up during the DD process.

• Key person departures in the last 3 years
• Any fund restructurings or GP-led secondaries
• Regulatory actions or SEC examination findings
• LP concentration risk (single LP >25%)
• Material changes to fee terms from prior funds

Disclaimer

This document is for internal use only and does not constitute investment advice. Prepared for due diligence purposes.