Company: BBU
Filing Date: 2025-03-10
Form Type: 424B3
Source: 0001104659-25-022184
Chunk: 9

Company: Brookfield Business Partners L.P.
Filing Date: 2025-03-10
Form: 424B3
Chunk 9
---
ments to Reflect Certain Capital Events .”

Brookfield is party to an amended and restated rights agreement (the “

#### Rights Agreement
”) pursuant to which Brookfield has agreed that, until March 15, 2027 (the fifth anniversary of the date of the Special Distribution), 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 its articles and notice of articles (the “

#### BBUC articles
”) of delivering the unit amount or its cash equivalent amount and (ii) we have not, upon our election in our sole and absolute discretion, acquired such subject exchangeable shares from the holder thereof and delivered the unit amount or its cash equivalent, Brookfield will satisfy, or cause to be satisfied, the obligations pursuant to the BBUC articles to exchange such subject exchangeable shares for the unit amount

<div align='center'>1</div>

TABLE OF CONTENTS

or its cash equivalent. The holders of exchangeable shares have a right to receive the unit amount or its cash equivalent in such circumstances. The partnership will pay all expenses of effecting the exchanges pursuant to this prospectus. See “ Exchange Rights of Exchangeable Shares for Units ” for more information.

#### BBU Units
As of February 25, 2025, there were 90,855,473 units and 51,599,716 redeemable-exchangeable partnership units of Holding LP (each, a “

#### redemption-exchange unit
”) outstanding.

The redemption-exchange units are subject to a redemption-exchange mechanism pursuant to which units may be issued in exchange for redemption-exchange units on a one-for-one basis. All of the redemption-exchange units are currently owned by Brookfield.

For more information regarding the units and securities directly or indirectly exchangeable for units, see “ Description of the Partnership’s Capital Structure ” and “ Exchange of Exchangeable Shares for Units ”.

#### Exchanges Pursuant to This Prospectus
This prospectus relates to the registration of up to 132,683,978 units that may be (i) issued by the partnership or delivered by BBUC to satisfy any exchange, redemption or acquisition of exchangeable shares (including, if applicable, in connection with liquidation, dissolution or winding up of BBUC or the partnership) from time to time made in accordance with the terms of the exchangeable shares as provided in the BBUC articles; or (ii) delivered by the selling securityholder to satisfy any