Company: BBU
Filing Date: 2025-02-28
Form Type: F-3
Source: 0001104659-25-019207
Chunk: 13

Company: Brookfield Business Partners L.P.
Filing Date: 2025-02-28
Form: F-3
Chunk 13
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TABLE OF CONTENTS

or its cash equivalent. The holders of exchangeable shares have a right to receive the unit amount or its cash equivalent in such circumstances. The partnership will pay all expenses of effecting the exchanges pursuant to this prospectus. See “ Exchange Rights of Exchangeable Shares for Units ” for more information.

#### BBU Units
As of February 25, 2025, there were 90,855,473 units and 51,599,716 redeemable-exchangeable partnership units of Holding LP (each, a “

#### redemption-exchange unit
”) outstanding.

The redemption-exchange units are subject to a redemption-exchange mechanism pursuant to which units may be issued in exchange for redemption-exchange units on a one-for-one basis. All of the redemption-exchange units are currently owned by Brookfield.

For more information regarding the units and securities directly or indirectly exchangeable for units, see “ Description of the Partnership’s Capital Structure ” and “ Exchange of Exchangeable Shares for Units ”.

#### Exchanges Pursuant to This Prospectus
This prospectus relates to the registration of up to 132,683,978 units that may be (i) issued by the partnership or delivered by BBUC to satisfy any exchange, redemption or acquisition of exchangeable shares (including, if applicable, in connection with liquidation, dissolution or winding up of BBUC or the partnership) from time to time made in accordance with the terms of the exchangeable shares as provided in the BBUC articles; or (ii) delivered by the selling securityholder to satisfy any exchange by holders of exchangeable shares from time to time in the event that neither BBUC nor the partnership has satisfied such exchange, as provided pursuant to the terms of the Rights Agreement and the BBUC articles. Exchanges registered hereby include exchanges of exchangeable shares at the election of the holders of exchangeable shares in accordance with the terms thereof as provided in the BBUC articles and, if applicable, the Rights Agreement. See “ Exchange of Exchangeable Shares for Units — Primary Exchange Rights ” and “E xchanges of Exchangeable Shares for Units — Secondary Exchange Rights ”. In addition, this prospectus registers the issuance or delivery of units upon redemption or acquisition by us of exchangeable shares in accordance with the BBUC articles, as described in “E xchanges of Exchangeable Shares for Units — Redemption ”, “ Exchanges of Exchangeable Shares for Units — Liquidation ” and “ Exchanges of Exchangeable Shares