Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 22

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 22
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 or impossible for our company to continue to be taxable as a partnership for U. S. federal income tax purposes. Securities markets in general have experienced extreme volatility that has often been unrelated to the operating performance of particular companies or partnerships. Any broad market fluctuations may adversely affect the trading price of our units (and securities exchangeable into units, such as the BBUC exchangeable shares).

Our company is an “ SEC foreign issuer” under Canadian securities regulations and a “foreign private issuer” under U. S. securities law. Therefore, we are exempt from certain requirements of Canadian securities laws and from requirements applicable to U. S. domestic registrants listed on the NYSE.

Although our company is a reporting issuer in Canada, we are an “ SEC foreign issuer” and exempt from certain Canadian securities laws relating to disclosure obligations and proxy solicitation, subject to certain conditions. Therefore, there may be less publicly available information in Canada about our company than would be available if we were a typical Canadian reporting issuer.

Although we are subject to the periodic reporting requirement of the U. S. Exchange Act and the rules and regulations promulgated thereunder the periodic disclosure required of foreign private issuers under the U. S. Exchange Act is different from periodic disclosure required of U. S. domestic registrants. Therefore, there may be less publicly available information about our company than is regularly published by or about other public limited partnerships in the United States. Our company is exempt from certain other sections of the U. S. Exchange Act to which U. S. domestic issuers are subject, including the requirement to provide our unitholders with information statements or proxy statements that comply with the U. S. Exchange Act. In addition, insiders and large unitholders of our company are not obligated to file reports under Section 16 of the U. S. Exchange Act, and we will be permitted to follow certain home country corporate governance practices instead of those otherwise required under the NYSE Listed Company Manual for domestic issuers. We currently intend to follow the same corporate practices as would be applicable to U. S. domestic limited partnerships. However, we may in the future elect to follow our home country law for certain of our corporate governance practices, as permitted by the rules of the NYSE, in which case our unitholders would not be afforded the same protection as provided under NYSE corporate governance standards. Following our home country governance practices as opposed to the requirements that would otherwise apply to a U. S. domestic limited partnership listed on the NYSE may provide less protection