Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 508

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 19
Chunk 508
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 (1)                  
  SHARES                                                 2024            2023  
  Opening balance                                  72,954,450      72,955,585  
  Converted to LP Units                                  ( 4)        ( 1,135)  
  Balance as at December 31                        72,954,446      72,954,450  

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(1) Included in the BBUC exchangeable shares that Brookfield Holders beneficially own as of December 31, 2024 is 10,317,747

On March 15, 2022, the partnership completed a special distribution whereby Unitholders as of the Record Date received one BBUC exchangeable share, for every two Units held. The special distribution resulted in the issuance of 73

Each BBUC exchangeable share is exchangeable at the option of the holder for one one

During the year ended December 31, 2024, 4 1,135

An additional Managing General Partner Unit is issued to the partnership each time an LP Unit is issued, including when a BBUC exchangeable Share is exchanged by the holder thereof for an LP Unit. During the year ended December 31, 2024, 4 1,135 4 1,135

  F-62      Brookfield Business Partners  

Table of Contents

BROOKFIELD BUSINESS PARTNERS L. P.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

As at December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022

(d) Special limited partner units held by Brookfield

                                 Special Limited Partner Units held by Brookfield            
  UNITS                                                                      2024      2023  
  Authorized and issued                                                                      
  Opening balance                                                               4         4  
  Balance as at December 31                                                     4         4  

The weighted average number of special limited partner units outstanding for the year ended December 31, 2024 was 4 4

In its capacity as the holder of the Special LP Units of the Holding LP, the special limited partner is entitled to incentive distributions which are calculated quarterly as 20

In order to account for the dilutive effect of the special distribution which occurred on March 15, 2022, the incentive distribution threshold was reduced by one-third, commensurate with the distribution ratio of one (1) BBUC exchangeable share for every two (