Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 447

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 19
Chunk 447
---
 2023 and 2022

NOTE 1. ORGANIZATION AND DESCRIPTION OF THE BUSINESS

Brookfield Business Partners L. P. and its subsidiaries (collectively, the “partnership”) is an owner and operator of business services and industrials operations on a global basis. Brookfield Business Partners L. P. was established as a limited partnership under the laws of Bermuda, and organized pursuant to a limited partnership agreement as amended on May 31, 2016, and as thereafter amended. Brookfield Corporation (or together with its controlled subsidiaries, excluding the partnership, “ Brookfield”) is the ultimate parent of the partnership. “ Brookfield Holders” refers to Brookfield, Brookfield Wealth Solutions Ltd. (“ Brookfield Wealth Solutions”) and their related parties. Brookfield Business Partners L. P.’s limited partnership units are listed on the New York Stock Exchange (“ NYSE”) and the Toronto Stock Exchange (“ TSX”) under the symbols “ BBU” and “ BBU. UN”, respectively. The registered head office of Brookfield Business Partners L. P. is 73 Front Street, 5th Floor, Hamilton HM 12, Bermuda.

Brookfield Business Partners L. P.’s sole direct investment consists of managing general partnership units (“ Managing General Partner Units”) of Brookfield Business L. P. (the “ Holding LP”), which holds the partnership’s interests in its operating businesses. The partnership’s consolidated equity interests include the non-voting publicly traded limited partnership units (“ LP Units”) held by public unitholders and Brookfield Holders, general partner units held by Brookfield (“ GP Units”), redemption-exchange partnership units (“ Redemption-Exchange Units”) in the Holding LP held by Brookfield Holders, special limited partnership units (“ Special LP Units”) in the Holding LP held by Brookfield and class A exchangeable subordinate voting shares (“ BBUC exchangeable shares”) of Brookfield Business Corporation (“ BBUC”), a consolidated subsidiary of the partnership, held by the public and Brookfield Holders. Holders of the LP Units, GP Units, Redemption-Exchange Units, Special LP Units and BBUC exchangeable shares will be collectively referred to throughout as “ Unitholders”, unless the context indicates or requires otherwise. LP Units, GP Units, Redemption-Exchange Units, Special LP Units and BBUC exchangeable shares will be collectively referred to throughout as “ Units” unless the context indicates or requires otherwise.

The partnership’s principal operations include business services operations, such as a residential mortgage insurer, a dealer