Company: BBU
Filing Date: 2025-02-28
Form Type: F-3
Source: 0001104659-25-019207
Chunk: 24

Company: Brookfield Business Partners L.P.
Filing Date: 2025-02-28
Form: F-3
Chunk 24
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 behalf. Holders of exchangeable shares that are registered holders must contact BBUC’s transfer agent and follow the process described below. BBUC currently intends to satisfy any exchange, redemption or acquisition of exchangeable shares through the delivery of units rather than cash.

Each holder of exchangeable shares who wishes to exchange one or more of his or her exchangeable shares for units or its cash equivalent is required to complete and deliver a notice of exchange in the form available from BBUC’s transfer agent. The transfer agent will promptly notify BBUC, the partnership and, until such time as the Rights Agreement is terminated, Brookfield of the receipt of a notice of exchange. Upon receipt of a notice of exchange, BBUC shall be obligated, within ten (10) business days after the date that the notice of exchange is received by BBUC’s transfer agent, deliver to the tendering holder of exchangeable shares, in accordance with instructions set forth in the notice of exchange, one unit per exchangeable share held (subject to adjustment in the event of certain dilutive or other capital events by BBUC or the partnership as described below in “— Adjustments to Reflect Certain Capital Events ”) or its cash equivalent based on the NYSE closing price of one unit on the date that the request for exchange is received by BBUC’s transfer agent (or if not a trading day, the next trading day thereafter) (the form of payment to be determined at the sole election of BBUC), plus, in each case, a cash amount for each tendered exchangeable share equal to any unpaid dividends per tendered exchangeable share. The units that BBUC would be obligated to deliver following an exchange request as set forth in the preceding sentence will be issued by the partnership to BBUC, and BBUC in turn will deliver such units to such holder. As described in the next paragraph, the partnership may also elect to satisfy such exchange request by issuing units or paying cash directly to the tendering holder of exchangeable shares. Upon completion of the exchange of any exchangeable shares as described herein, the holder of exchangeable shares who has exchanged their exchangeable shares will have no further right, with respect to any exchangeable shares so exchanged, to receive any dividends on exchangeable shares with a record date on or after the date on which such exchangeable shares are exchanged.

In lieu of BBUC delivering units or paying cash as described in the preceding paragraph, the partnership, in its sole discretion, may elect to satisfy BBUC’s exchange obligation by acquiring all of the tendered