Company: BBU
Filing Date: 2025-02-28
Form Type: F-3
Source: 0001104659-25-019207
Chunk: 27

Company: Brookfield Business Partners L.P.
Filing Date: 2025-02-28
Form: F-3
Chunk 27
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 with Wilmington Trust, National Association (the “

#### rights agent
”), pursuant to which Brookfield has agreed that, until March 15, 2027, upon an exchange of exchangeable shares, in the event that, on the applicable specified exchange date with respect to any subject exchangeable shares, (i) BBUC has not satisfied its obligation under the BBUC articles by delivering the unit amount or its cash equivalent amount and (ii) the partnership has not, upon its election in its sole and absolute discretion, acquired such subject exchangeable share from the holder thereof and delivered the applicable unit or cash amount, Brookfield will satisfy, or cause to be satisfied, the obligations pursuant to the BBUC articles

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to exchange such exchangeable shares for the unit amount or its cash equivalent. The holders of exchangeable shares have a right to receive units or the cash amount in such circumstances (“

#### Secondary Exchange Rights
”). Brookfield currently intends to satisfy any exchange requests on the exchangeable shares through the delivery of units rather than cash. The Secondary Exchange Rights are a part of the terms of the exchangeable shares and may not be evidenced, transferred or assigned separate or apart from the exchangeable shares.

Brookfield Consent Right. The Master Services Agreement provides, so long as Brookfield is a party to the Rights Agreement, Brookfield shall have a consent right prior to the issuance by BBUC of any exchangeable shares, subject to certain exceptions.

Appointment of Rights Agent . The rights agent has agreed to act as the rights agent for the holders, as a class and not individually, of the exchangeable shares.

Term and Termination . The Rights Agreement will terminate automatically on the earliest of (i) the date on which there are no exchangeable shares outstanding, other than exchangeable shares owned by Brookfield or its affiliates and (ii) the fifth anniversary of date of the Special Distribution, being March 15, 2027. After the expiry of the Rights Agreement, holders of exchangeable shares will continue to have all of the rights provided for in the BBUC articles but will no longer be entitled to rely on the Secondary Exchange Rights.

Satisfaction of Secondary Exchange Rights . In accordance with the Rights Agreement, Brookfield has agreed to satisfy, or cause to be satisfied, the obligations with respect to the Secondary Exchange Rights contained in the BBUC articles. The rights agent established a collateral account in order to enable the rights agent to exchange subject exchangeable shares for the cash