Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 202

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 7
Chunk 202
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 benefit from indemnification provisions and limitations on liability are included in our Limited Partnership Agreement, the BBU General Partner’s bye-laws, BBUC’s articles, the Holding LP Limited Partnership Agreement, our Master Services Agreement and other arrangements with Brookfield. See Item 7. B, “ Related Party Transactions - Our Master Services Agreement”, Item 10. B, “ Memorandum and Articles of Association - Description of our units and our Limited Partnership Agreement - Indemnification; Limitations on Liability” and Item 10. B, “ Memorandum and Articles of Association - Description of our units and our Limited Partnership Agreement - Indemnification; Limitations on Liability”.

Other Services

Brookfield may provide services to our operating businesses which are outside the scope of our Master Services Agreement under arrangements that are on market terms and conditions and pursuant to which Brookfield will receive fees. The services that may be provided under these arrangements include financial advisory, operations and maintenance, development, operating management and other services. Pursuant to our conflict of interest guidelines, those arrangements generally require prior approval by a majority of the independent directors, which may be granted in the form of general guidelines, policies, procedures and/or parameters. See Item 7. B “ Related Party Transactions - Conflicts of Interest and Fiduciary Duties”.

Other Related Party Transactions

From time to time, Brookfield and its related entities may purchase securities sold by the partnership and its affiliates as part of public offerings of such securities. Such purchases are typically made at the market price of such securities less any underwriting fee.

RELATIONSHIP WITH BBUC

Each BBUC exchangeable share is structured with the intention of providing an economic return equivalent to one unit (subject to adjustment to reflect certain capital events). BBUC targets paying dividends per BBUC exchangeable share that are identical to the distributions on each unit, and each BBUC exchangeable share is exchangeable at the option of the holder for one unit (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of our group). We hold a 75% voting interest in BBUC through our ownership of the class B shares, and own all of the class C shares, which entitle us to all of the residual value in BBUC after payment in full of the amount due to holders of BBUC exchangeable shares and class B shares and subject to the prior rights of holders of BBUC preferred shares.

BBUC acquired its business from us in connection with