Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 177

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 6
Chunk 177
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 vote called to approve the transaction in which the director has an interest and no transaction approved by the board of directors will be void or voidable solely because the director was present at or participates in the meeting in which the approval was given provided that the board of directors or a board committee authorizes the transaction in good faith after the director’s interest has been disclosed or the transaction is fair to the BBU General Partner and our company at the time it is approved.

Transactions requiring unitholder approval

Limited partners have consent rights with respect to certain fundamental matters and related party transactions (in accordance with MI 61-101) and on any other matters that require their approval in accordance with applicable securities laws and stock exchange rules. See Item 10. B, “ Memorandum and Articles of Association - Description of the Holding LP Limited Partnership Agreement - Amendment of the Holding LP Limited Partnership Agreement, Opinion of Counsel and Limited Partner Approval and Withdrawal of the Managing General Partner”.

Corporate Governance Disclosure

The BBU General Partner’s board of directors encourages sound corporate governance practices designed to promote the well-being and ongoing development of our company, including advancing the best interests of our company.

The BBU General Partner’s board of directors is of the view that its corporate governance policies and practices, outlined below, are comprehensive and consistent with the guidelines for corporate governance adopted by Canadian securities administrators. The board is also of the view that these policies and practices are consistent with the requirements of the NYSE and the applicable provisions under the Sarbanes-Oxley Act.

Board of Directors of the BBU General Partner

Mandate of the Board of Directors

The BBU General Partner’s board of directors oversees the management of our company’s affairs directly and through two existing standing committees. The responsibilities of the board of directors and each committee are set out in written charters, which are reviewed and approved annually.

In fulfilling its mandate, the board is, among other things, responsible for the following:

• assessing the principal risks of our company’s business and reviewing, approving and monitoring the systems in place to manage these risks;

• reviewing and approving the reports issued to the unitholders, including annual and interim financial statements; and

• promoting the effective operation of the board of directors.

Meetings of the Board of Directors

The BBU General Partner’s board of directors meets at least four times each year, with additional meetings held to consider specific items of business or as deemed necessary. Meeting frequency and agenda items may change depending on the opportunities or risks faced by our company. The