Company: BBU
Filing Date: 2025-02-28
Form Type: F-3
Source: 0001104659-25-019207
Chunk: 54

Company: Brookfield Business Partners L.P.
Filing Date: 2025-02-28
Form: F-3
Chunk 54
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 thereunder, and the current administrative policies and assessing practices of the Canada Revenue Agency (the “

#### CRA
”) published in writing prior to the date hereof. This summary takes into account all specific proposals to amend the Tax Act and the regulations thereunder publicly announced by or on behalf of the Minister of Finance (Canada) prior to the date hereof (the “

#### Proposed Amendments
”), and assumes that all Proposed Amendments will be enacted in the form proposed. However, no assurances can be given that the Proposed Amendments will be enacted as proposed, or at all. This summary does not otherwise take into account or anticipate any changes in law or administrative policy or assessing practice whether by legislative, administrative or judicial action or decision, nor does it take into account tax legislation or considerations of any province, territory or foreign jurisdiction, which may differ from those discussed herein.

This summary should be read in conjunction with the discussion of the material Canadian federal income tax considerations associated with the holding and disposition of units set forth in Item 10.E “ Taxation — Certain Material Canadian Federal Income Tax Considerations ” and Item 3.D “ Risk Factors — Risks Related to Taxation ” in the partnership’s most recent Annual Report on Form 20-F. The following discussion is limited as described in Item 10.E “ Taxation — Certain Material Canadian Federal Income Tax Considerations ” in the partnership’s most recent Annual Report on Form 20-F and as described herein.

This summary assumes that at all relevant times the exchangeable shares will be listed on a “designated stock exchange” for the purposes of the Tax Act (which currently includes the TSX and NYSE). This summary also assumes that neither the partnership nor BBUC is a “tax shelter” or a “tax shelter investment”, each as defined in the Tax Act. However, no assurance can be given in this regard.

This summary is not applicable to a holder: (i) an interest in which would be a “tax shelter investment” or who holds or acquires exchangeable shares or units as a “tax shelter investment”; (ii) that is a “financial institution” for purposes of the “mark-to-market property” rules; (iii) that reports its “Canadian tax results” in a currency other than Canadian currency; (iv) that has entered or will enter into a “derivative forward agreement” in respect of the exchangeable shares or the units (each as defined in the Tax Act); or (v) that is a corporation resident in Canada and is, or becomes