Company: BBU
Filing Date: 2025-02-28
Form Type: F-3
Source: 0001104659-25-019207
Chunk: 14

Company: Brookfield Business Partners L.P.
Filing Date: 2025-02-28
Form: F-3
Chunk 14
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 for Units — Automatic Redemption upon Liquidation of the Partnership ”.

As of February 25, 2025, there were 72,683,978 exchangeable shares issued and outstanding, which may be exchanged for units pursuant to this prospectus. In addition, from time to time, BBUC may issue additional exchangeable shares that may be exchanged for units pursuant to this prospectus. This prospectus relates to up to 60,000,000 units that may be issued by the partnership or delivered by BBUC or the selling securityholder in respect of such additional exchangeable shares, as set forth on the cover of this prospectus. Any such future issuances of exchangeable shares will have been issued pursuant to either Regulation S under the Securities Act or another effective registration statement under the Securities Act.

**Tax Consequences of Exchanges and Ownership of Units**

Please see “ Material Canadian Federal Income Tax Considerations ” and “ Material United States Federal Income Tax Considerations ” for a summary of material Canadian and U.S. federal income tax considerations that may be relevant to holders of exchangeable shares if such holders exchange their exchangeable shares for units. Because the specific tax consequences to such holders will depend upon their specific circumstances, holders are strongly urged to consult their own tax advisors regarding any Canadian and/or U.S. federal, state and local tax consequences specific to such holders.

#### Recent Developments
Chemelex Transaction

On January 30, 2025, together with institutional partners, we completed the acquisition of Chemelex, a leading manufacturer of electric heat tracing systems, through a carve-out from a larger industrial company for total consideration of approximately $1.7 billion. The investment was funded with approximately

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$830 million of equity and $860 million of subsidiary debt financing. Our economic interest in the investment is approximately 25%.

Advanced Energy Storage Operation

In January 2025, our advanced energy storage operation raised $5 billion of new first lien debt. $4.5 billion of the proceeds were used to fund a special distribution to owners, of which the partnership’s share was approximately $1.2 billion.

Offshore Oil Services

On January 16, 2025, our offshore oil services completed the previously announced sale of its shuttle tanker operation for consideration of approximately $484 million. Please see the unaudited pro forma financial statements included in the Form 6-K filed by the partnership on February 28, 2025, which is incorporated by reference