Company: BBU
Filing Date: 2025-02-28
Form Type: F-3
Source: 0001104659-25-019207
Chunk: 39

Company: Brookfield Business Partners L.P.
Filing Date: 2025-02-28
Form: F-3
Chunk 39
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,333,752 units held by subsidiaries of Brookfield Wealth Solutions, a paired entity to Brookfield. This amount also includes 47,244,876 exchangeable shares beneficially owned by Brookfield and Brookfield Wealth Solutions. The percentage of beneficial ownership is based on 90,855,473 units outstanding and 51,599,716 redemption-exchange units held by Brookfield, on a fully-exchanged basis. Brookfield and Brookfield Wealth Solutions have agreed that all decisions to be made by Brookfield Wealth Solutions with respect to the voting of the units held by Brookfield Wealth Solutions will be made jointly by mutual agreement of the applicable Brookfield Wealth Solutions subsidiary and Brookfield. Brookfield Wealth Solutions may acquire additional units or other securities exchangeable for units (including exchangeable shares). It is expected that any additional units or other securities exchangeable for units (including any exchangeable shares) held by Brookfield Wealth Solutions will be subject to the foregoing voting arrangements. In addition, BAM Partners Trust (the “ BN Partnership ”) may be deemed a beneficial owner of such units. BN Partnership is a trust established under the laws of Ontario and is the sole owner of the Class B limited voting shares of Brookfield. The BN Partnership has the ability to appoint one half of the board of directors of Brookfield and approve, along with the holders of Brookfield’s class A limited voting shares, all other matters requiring shareholder approval of Brookfield with no single individual or entity controlling the BN Partnership. As such, the BN Partnership may be deemed to have indirect beneficial ownership of the units beneficially owned by Brookfield. The address of Brookfield is Brookfield Place, Suite 100, 181 Bay Street, P.O. Box 762, Toronto, Ontario M5J 2T3. (3) Assumes that all exchange requests of exchangeable shares are satisfied in reliance on the Secondary Exchange Rights and no units are delivered by the partnership or BBUC in satisfaction of exchange requests on the exchangeable shares. The partnership and BBUC currently intend to satisfy any exchange requests on the exchangeable shares through the delivery of units rather than cash. For a description of our relationship with Brookfield as well as potential conflicts of interest (and the methods for resolving them) and other material considerations arising from our relationship with Brookfield, please see Item 7.B, “ Related Party Transactions ” in our Annual Report on Form 20-F, as updated by our subsequent filings with the SEC that are incorporated by reference in this prospectus.

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