Company: BBU
Filing Date: 2025-03-10
Form Type: 424B3
Source: 0001104659-25-022184
Chunk: 35

Company: Brookfield Business Partners L.P.
Filing Date: 2025-03-10
Form: 424B3
Chunk 35
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 conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which each preferred unit will be issued, evidenced by certificates and assigned or transferred; and (vii) the requirement, if any, of each such preferred unit to consent to certain partnership matters.

For a more detailed description of the units, please refer to our Annual Report on Form 20-F, as updated by our subsequent filings with the SEC that are incorporated herein by reference.

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TABLE OF CONTENTS

COMPARISON OF RIGHTS OF HOLDERS OF EXCHANGEABLE SHARES AND UNITS For a summary of certain material differences between the rights of holders of exchangeable shares and holders of units under the governing documents of BBUC and the partnership and applicable laws, see “ Comparison of Rights of Holders of Our Exchangeable Shares and the Partnership’s Units ” in BBUC’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 1, 2024. SELLING SECURITYHOLDER The table below sets forth information regarding beneficial ownership of units by the selling securityholder as of February 25, 2025 that may be delivered by the selling securityholder under this prospectus. The percentage of beneficial ownership as set forth in the following table is based on 90,855,473 units outstanding as of February 25, 2025. The percentage of beneficial ownership assumes that Brookfield delivers the maximum number of units under this prospectus and that there are no other exchanges of exchangeable shares into units. Pursuant to Rule 13d-4 under the Exchange Act, the statements concerning voting and dispositive power concerning the units included in the footnotes to this table shall not be construed as admissions that such persons are the beneficial owners of such units.

| Selling Securityholder    | ​ | ​ | UnitsBeneficiallyOwned(1) |   |             |   | ​ | ​ | Percentage ofUnitsOutstanding |   |       |   | ​ | ​ | Maximum Numberof Units That MayBe Delivered uponExchange ofExchangeableShares byBrookfieldPursuant to theRights Agreement |   |             |   | ​ | ​ | Percentage AfterMaximum Numberof Units areDelivered uponExchange ofExchangeableShares byBrookfieldPursuantto the RightsAgreement |   |         |   | ​ |
| Brookfield Corporation(2) | ​ | ​ | ​