AMENDED AND RESTATED EQUITY COMMITMENT AGREEMENT

WHEREAS on July 30, 2020 Canada Holdco, BEPC Holdings (formerly Brookfield Renewable Corporation) and BEP Partnership entered into an equity commitment agreement (the “Original Agreement”) pursuant to which Canada HoldCo agreed to subscribe for, or cause one of its Affiliates (as defined below) to subscribe for, BEPC Holdings Class C Shares (as defined below), on the terms and conditions set forth in the Original Agreement and, as applicable, the articles of incorporation of BEPC Holdings, as the same may be amended and/or restated from time to time;

WHEREAS BEPC Holdings intends to call on Canada HoldCo’s Commitment, from time to time and as necessary, to fund growth capital investments and acquisitions, or for working capital purposes;

WHEREAS BEP Partnership provided a covenant in the Original Agreement not to declare or pay any distributions on its limited partnership units if certain conditions are met; and

WHEREAS Canada Holdco, BEPC Holdings and BEP Partnership desire to amend and restate the Original Agreement in its entirety to (i) add BEPC as a party thereto in order to receive the benefit of the covenants of the BEP Partnership in Section 8 and (ii) make certain other amendments to the terms and conditions of the Original Agreement as reflected herein; and

WHEREAS BEP Partnership has declared a distribution payable on December 31 2024 to holders of BEP Units of record as of November 29, 2024 and BEPC Holdings has declared an equivalent dividend payable on December 31, 2024 to holders of Former BEPC Holdings Class A Shares (as defined below) of record as of November 29, 2024 and BEPC Holdings will have sufficient money or other assets to enable the payment, in accordance with applicable law (including directors’ fiduciary duties) and all contracts to which BEPC Holdings is a party, of such dividend on the Former BEPC Holdings Class A Shares as of the payment date.

Interpretation

Definitions. In this Equity Commitment Agreement, the following terms shall have the following meanings:

“Affiliate” means, with respect to a Person, any other Person that, directly or indirectly, through one or more intermediaries, Controls or is Controlled by such Person, or is under common Control of a third Person;

“BEP Group” means the BEP Partnership, the Renewable Partnership, the Holding Entities, the Operating Entities and any other direct or indirect Subsidiary of a Holding Entity, other than any member of the BEPC Group;

“BEP Partnership” has the meaning assigned thereto in the preamble;

“BEP Unit” means a limited partnership unit in the BEP Partnership;

“BEPC” has the meaning assigned thereto in the preamble;

“BEPC Class A Shares” means the class A exchangeable subordinate voting shares in the capital of BEPC;

“BEPC Group” means BEPC, BEPC Holdings and any of their direct or indirect Subsidiaries;

“BEPC Holdings” has the meaning assigned thereto in the preamble and formerly known as Brookfield Renewable Corporation;

“BEPC Holdings Class C Shares” means the class C non-voting shares in the capital of BEPC Holdings;

“Business Day” means any day that the Principal Stock Exchange is open for trading, other than any legal holiday recognized as such in the Province of Ontario or the Province of British Columbia;

“Canada HoldCo” has the meaning assigned thereto in the preamble;

“Commitment” has the meaning assigned thereto in Section 2.1;

“Commitment Period” means the period commencing on July 30, 2020 and ending on the tenth anniversary thereof;

“Control” means the control of one Person of another Person in accordance with the following: a Person (“A”) controls another Person (“B”) where A has the power to determine the management and policies of B by contract or status (for example the status of A being the general partner of B) or by virtue of beneficial ownership of a majority of the voting interests in B; and for certainty and without limitation, if A owns shares to which are attached more than 50% of the votes permitted to be cast in the election of directors to the board of B or A is the general partner of B, a limited partnership, then in each case A Controls B for this purpose;

“Draw-Down Notice” means a notice to Canada HoldCo of a draw-down on the Commitment;

“Equity Commitment Agreement” means this amended and restated equity commitment agreement dated December 24, 2024 as it may be further amended or restated from time to time;

“Former BEPC Holdings Class A Shares” means the former class A exchangeable subordinate voting shares in the capital of BEPC Holdings;

“Holding Entity” has the meaning assigned thereto in the BEP Partnership Agreement;

“Operating Entity” has the meaning assigned thereto in the BEP Partnership Agreement;

“Original Agreement” has the meaning assigned thereto in the preamble;

“Person” means any individual, partnership, limited partnership, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated association, trust, trustee, executor, administrator or other legal personal representative, regulatory body or agency, government or governmental agency, authority or entity however designated or constituted;

“Principal Stock Exchange” means the New York Stock Exchange or if the BEPC Class A Shares are not listed on the New York Stock Exchange, the principal stock exchange on which the BEPC Class A Shares are listed;

“Renewable Partnership” means Brookfield Renewable Energy L.P.;

“Subscriber” means Canada HoldCo or any other member of the BEP Group that Canada HoldCo causes to subscribe for BEPC Holdings Class C Shares pursuant to this Equity Commitment Agreement;

“Subscription Payment” has the meaning assigned thereto in Section 2.2;

“Subscription Payment Date” means a date specified in a Draw-Down Notice on which a Subscription Payment is to be made to BEPC Holdings;

“Subsidiary” means, with respect to any Person, (i) any other Person that is directly or indirectly Controlled by such Person, (ii) any trust in which such Person holds all of the beneficial interests or (iii) any partnership, limited liability company or similar entity in which such Person holds all of the interests other than the interests of any general partner, managing member or similar Person; and

“US$” means United States dollars.

Headings. The inclusion of headings and a table of contents in this Equity Commitment Agreement are for convenience of reference only and will not affect the construction or interpretation hereof.

Gender and Number. In this Equity Commitment Agreement, unless the context otherwise requires, words importing the singular include the plural and vice versa, words importing gender include all genders or the neuter, and words importing the neuter include all genders.

Invalidity of Provisions. Each of the provisions contained in this Equity Commitment Agreement is distinct and severable and a declaration of invalidity or unenforceability of any such provision or part thereof by a court of competent jurisdiction will not affect the validity or enforceability of any other provision hereof. To the extent permitted by applicable law, the parties waive any provision of law which renders any provision of this Equity Commitment Agreement invalid or unenforceable in any respect. The parties will engage in good faith negotiations to replace any provision which is declared invalid or unenforceable with a valid and enforceable provision, the economic effect of which comes as close as possible to that of the invalid or unenforceable provision which it replaces.

Currency. Except where otherwise expressly provided, all amounts in this Equity Commitment Agreement are stated and shall be paid in US$. BEPC Holdings shall call all Subscription Payments in US$. Canada HoldCo shall make all Subscription Payments in US$ or in the equivalent amount of Canadian Dollars on the basis of rates quoted by appropriate financial institutions of repute or by internationally recognized financial publications or news services. If it is necessary for any amounts to be converted from another currency into US$, then BEPC Holdings will convert the amount using rates quoted by appropriate financial institutions of repute or by internationally recognized financial publications or news services.

Waiver, Amendment.

Governing Law

The Commitment

The aggregate commitment of Canada HoldCo to subscribe for BEPC Holdings Class C Shares pursuant to this Equity Commitment Agreement is $1 billion (the “Commitment”).

Each draw-down shall not exceed $250,000,000, unless Canada HoldCo otherwise agrees, and each subsequent draw-down shall be made a minimum of 120 days after the receipt of the last Draw-Down Notice from BEPC Holdings.

Subject to Sections 3 and 4, on each Subscription Payment Date, the Subscriber shall pay to BEPC Holdings an amount of cash set out in a Draw-Down Notice (the “Subscription Payment”) in exchange for the issuance of BEPC Holdings Class C Shares pursuant to Section 6.

The amount of the Commitment shall be permanently reduced by the amount of any Subscription Payment made to BEPC Holdings.

Subscription Payments on Draw-Downs

Canada HoldCo shall cause one or more Subscribers to make a Subscription Payment to BEPC Holdings following receipt of a Draw-Down Notice from BEPC Holdings and in such amount as BEPC Holdings shall specify in the Draw-Down Notice; provided that no Subscription Payment shall be less than $10 million or in excess of the undrawn amount of the Commitment at the time the Subscription Payment is to be made.

BEPC Holdings shall give the Draw-Down Notice to Canada HoldCo in the manner specified in Section 12 hereof. The Draw-Down Notice shall:

specify (i) the place at which such Subscription Payment is to be made, including, if applicable, the account of BEPC Holdings or one or more of its subsidiaries to which such Subscription Payment should be made, (ii) the security to be issued, (iii) the amount of such Subscription Payment to be made, and (iv) the Subscription Payment Date and time at which such Subscription Payment is to be made, which shall not be earlier than 12:00 p.m., Toronto time, generally on the tenth Business Day, but in no event earlier than the fifth Business Day, after the giving of the Draw-Down Notice; and

confirm that (i) BEPC Holdings is able to pay its liabilities as they become due; and (ii) there has been no material adverse effect with respect to BEPC Holdings or its affairs or financial condition.

If BEPC Holdings deems it advisable, BEPC Holdings may reduce the amount of or cancel any call for a Subscription Payment by giving notice to Canada HoldCo in accordance with Section 12, subject to Section 3.1.

Conditions Precedent

The BEP Group shall directly or indirectly Control BEPC Holdings and the BEP Group shall have the ability, directly or indirectly, to elect a majority of the directors of BEPC Holdings;

a Draw-Down Notice shall have been provided to Canada HoldCo in accordance with Section 3.2; and

a majority of the directors of BEPC Holdings shall have authorized the issuance of BEPC Holdings Class C Shares pursuant to Section 6.

Expiration of the Commitment Period

Issuance of BEPC Holdings Class C Shares

Representations and Warranties

Canada HoldCo hereby represents and warrants to BEPC, BEPC Holdings and the BEP Partnership that:

it is validly organized and existing under the laws of the Province of Ontario;

it has the power, capacity and authority to enter into this Equity Commitment Agreement and to perform its duties and obligations hereunder;

it has taken all necessary action to authorize the execution, delivery and performance of this Equity Commitment Agreement;

the execution and delivery of this Equity Commitment Agreement by it and the performance by it of its obligations hereunder do not and will not contravene, breach or result in any default under its articles, by-laws, constituent documents or other organizational documents;

no authorization, consent or approval, or filing with or notice to any Person is required in connection with the execution, delivery or performance by it of this Equity Commitment Agreement; and

this Equity Commitment Agreement constitutes a valid and legally binding obligation of it enforceable against it in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other laws of general application limiting the enforcement of creditors’ rights and remedies generally and (ii) general principles of equity, including standards of materiality, good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable remedies, whether such principles are considered in a proceeding at law or in equity.

BEPC hereby represents and warrants to BEPC Holdings, Canada HoldCo and the BEP Partnership that:

it is validly organized and existing under the laws of the Province of British Columbia;

it has the power, capacity and authority to enter into this Equity Commitment Agreement and to perform its duties and obligations hereunder;

it has taken all necessary action to authorize the execution, delivery and performance of this Equity Commitment Agreement;

the execution and delivery of this Equity Commitment Agreement by it and the performance by it of its obligations hereunder do not and will not contravene, breach or result in any default under its articles, by-laws, constituent documents or other organizational documents;

no authorization, consent or approval, or filing with or notice to any Person is required in connection with the execution, delivery or performance by it of this Equity Commitment Agreement; and

this Equity Commitment Agreement constitutes a valid and legally binding obligation of it enforceable against it in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other laws of general application limiting the enforcement of creditors’ rights and remedies generally and (ii) general principles of equity, including standards of materiality, good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable remedies, whether such principles are considered in a proceeding at law or in equity.

BEPC Holdings hereby represents and warrants to BEPC, Canada HoldCo and the BEP Partnership that:

it is validly organized and existing under the laws of the Province of British Columbia;

it has the power, capacity and authority to enter into this Equity Commitment Agreement and to perform its duties and obligations hereunder;

it has taken all necessary action to authorize the execution, delivery and performance of this Equity Commitment Agreement;

the execution and delivery of this Equity Commitment Agreement by it and the performance by it of its obligations hereunder do not and will not contravene, breach or result in any default under its articles, by-laws, constituent documents or other organizational documents;

no authorization, consent or approval, or filing with or notice to any Person is required in connection with the execution, delivery or performance by it of this Equity Commitment Agreement; and

this Equity Commitment Agreement constitutes a valid and legally binding obligation of it enforceable against it in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other laws of general application limiting the enforcement of creditors’ rights and remedies generally and (ii) general principles of equity, including standards of materiality, good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable remedies, whether such principles are considered in a proceeding at law or in equity.

The BEP Partnership hereby represents and warrants to BEPC, BEPC Holdings and Canada HoldCo that:

it is validly organized and existing under the laws of Bermuda;

it has the power, capacity and authority to enter into this Equity Commitment Agreement and to perform its duties and obligations hereunder;

it has taken all necessary action to authorize the execution, delivery and performance of this Equity Commitment Agreement;

the execution and delivery of this Equity Commitment Agreement by it and the performance by it of its obligations hereunder do not and will not contravene, breach or result in any default under its limited partnership agreement, constituent documents or other organizational documents;

no authorization, consent or approval, or filing with or notice to any Person is required in connection with the execution, delivery or performance by it of this Equity Commitment Agreement; and

this Equity Commitment Agreement constitutes a valid and legally binding obligation of it enforceable against it in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other laws of general application limiting the enforcement of creditors’ rights and remedies generally and (ii) general principles of equity, including standards of materiality, good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable remedies, whether such principles are considered in a proceeding at law or in equity.

Covenants of the BEP Partnership

Termination

Further Assurances

Successors and Assigns

Notice

if to Canada HoldCo:

if to BEPC:

if to BEPC Holdings:

if to the BEP Partnership:

Benefits of this Equity Commitment Agreement

Counterparts