Company: BBU
Filing Date: 2025-02-28
Form Type: F-3
Source: 0001104659-25-019207
Chunk: 15

Company: Brookfield Business Partners L.P.
Filing Date: 2025-02-28
Form: F-3
Chunk 15
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 herein.

Unit Repurchase Program

On August 15, 2024, the TSX accepted a notice of the partnership’s intention to renew its normal course issuer bid (“

#### NCIB
”) in connection with our units, which permits the partnership to repurchase up to 3,714,088 issued and outstanding units. In January 2025, we allocated up to $250 million of capital to accelerate the repurchase of our securities under our existing NCIB. The price to be paid for our units under the NCIB will be the market price at the time of purchase or such other price as may be permitted. The actual number of units to be purchased and the timing of such purchases will be determined by the partnership, and all purchases will be made through the facilities of the TSX and the NYSE or alternative trading systems in Canada and the United States.

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TABLE OF CONTENTS

### RISK FACTORS
An investment in units involves a high degree of risk. Before making an investment decision, you should carefully consider the risks incorporated by reference from our Annual Report on Form 20-F and the other information incorporated by reference in this prospectus, as updated by our subsequent filings with the SEC, pursuant to Sections 13(a), 14 or 15(d) of the Exchange Act of 1934, as amended (the “

#### Exchange Act
”), which are incorporated in this prospectus. See “ Where You Can Find More Information ” and “ Incorporation by Reference ”. The risks and uncertainties described therein and herein are not the only risks and uncertainties we face. In addition, please consider the following risks before making an investment decision:

The exchange of exchangeable shares for units may result in the U.S. federal income taxation of any gain realized by a U.S. holder.

Depending on the facts and circumstances, a U.S. holder’s exchange of exchangeable shares for units may result in the U.S. federal income taxation of any gain realized by the U.S. holder. In general, a U.S. holder exchanging exchangeable shares for units pursuant to the exercise of the exchange right will recognize capital gain or loss (i) if the exchange request is satisfied by the delivery of units by Brookfield pursuant to the Rights Agreement or (ii) if the exchange request is satisfied by the delivery of units by BBUC and the exchange is, within the meaning of Section 302(b) of the U.S. Internal Revenue Code of 1986, as amended (