Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 105

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 4
Chunk 105
---
 times during the coming years. We believe that our current facilities are suitable and adequate to meet our current needs and that suitable additional or substitute space will be available as needed to accommodate continued expansion of our operations.

4. C ORGANIZATIONAL STRUCTURE

Organizational Chart

The chart below represents a simplified summary of our organizational structure as of the date of this Form 20-F. All ownership interests below are 100% unless otherwise indicated. “ GP Interest” denotes a general partnership interest and “ LP Interest” denotes a limited partnership interest. Certain subsidiaries through which Brookfield Holders holds the LP Units and the Redemption-Exchange Units have been omitted. This chart should be read in conjunction with the explanation of our ownership and organizational structure below.

  68      Brookfield Business Partners  

____________________________________

(1) Brookfield’s general partner interest is held through Brookfield Business Partners Limited, a Bermuda company that is indirectly wholly-owned by Brookfield Corporation.

  Brookfield Business Partners      69  

(2) As of the date of this Form 20-F, public holders of our units owned approximately 50.9% of our LP Units and Brookfield Holders owned approximately 49.1% of our LP Units. Brookfield Holders’ economic interest in the partnership is approximately 67.2% on a fully exchanged basis, assuming exchange of the Redemption-Exchange Units and BBUC exchangeable shares. In February 2025, the 2025 REU Exchange was completed.

(3) The partnership’s sole direct investment consists of Managing General Partner Units of the Holding LP, through which the partnership holds all its interests in its operating businesses. Any time one LP Unit is issued by the partnership, including any time one BBUC exchangeable share is exchanged by the holder thereof for one LP Unit, the Holding LP issues a corresponding Managing General Partner Unit to the partnership so that the aggregate number of LP Units and GP Units outstanding remains equal to the number of Managing General Partner Units outstanding.

(4) Brookfield’s Special LP units entitle the holder to receive incentive distributions. See Item 7. B, “ Related Party Transactions - Incentive Distributions”.

(5) Brookfield’s limited partnership interest in Holding LP, held in Redemption-Exchange Units, is redeemable for cash or exchangeable for our units in accordance with the Redemption-Exchange Mechanism, which could result in Brookfield owning approximately 67.8% of our issued and outstanding LP Units assuming exchange of the Redemption-Exchange Units (and including the