Company: BBU
Filing Date: 2025-03-10
Form Type: 424B3
Source: 0001104659-25-022184
Chunk: 1

Company: Brookfield Business Partners L.P.
Filing Date: 2025-03-10
Form: 424B3
Chunk 1
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 BBUC will deliver units or its cash equivalent to satisfy its exchange obligation or (ii) the partnership may elect to satisfy BBUC’s exchange obligation by acquiring any tendered exchangeable shares in exchange for units or its cash equivalent. Under the Rights Agreement and the BBUC articles, in the event that neither BBUC nor the partnership has issued or delivered units or the cash equivalent upon exchange of exchangeable shares, then Brookfield will satisfy, until March 15, 2027, such exchange by paying such cash amount or delivering such units pursuant to this prospectus (up to the maximum number of units that may be offered hereby). See “ Selling Securityholder ”.

None of the partnership, BBUC or the selling securityholder will receive any cash proceeds from the issuance or delivery of any units upon exchange, redemption or acquisition, as applicable, of exchangeable shares pursuant to this prospectus.

The units are listed on the New York Stock Exchange (the “

#### NYSE
”) under the trading symbol “BBU” and the Toronto Stock Exchange (“

#### TSX
**”) under the symbol “BBU.UN.”

Investing in the units involves risks. Please see “**

#### Risk Factors
**” beginning on page 4of this prospectus, and in similarly-captioned sections in the documents incorporated by reference herein, for a discussion of risk factors you should consider before investing in the units.

Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.**

#### The date of this prospectus is March 10, 2025
TABLE OF CONTENTS

TABLE OF CONTENTS

| ​ | ABOUT THIS PROSPECTUS                                            | ​ | ​ | ​ | ​ |  ii | ​ | ​ |
| ​ | CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION            | ​ | ​ | ​ | ​ | iii | ​ | ​ |
| ​ | SUMMARY                                                          | ​ | ​ | ​ | ​ |   1 | ​ | ​ |
| ​ | RISK FACTORS                                                     | ​ | ​ | ​ | ​ |   4 | ​ | ​ |
| ​ | USE OF PROCEEDS                                                  | ​ | ​ | ​ | ​ |   7 | ​ | ​ |
| ​ | CAPITALIZATION                                                   | ​ | ​ | ​ | ​ |   8 | ​ | ​ |
| ​ | EXCHANGE OF EX