Company: BBU
Filing Date: 2025-03-10
Form Type: 424B3
Source: 0001104659-25-022184
Chunk: 0

Company: Brookfield Business Partners L.P.
Filing Date: 2025-03-10
Form: 424B3
Chunk 0
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TABLE OF CONTENTS

#### Filed Pursuant to Rule 424(b)(3)​

#### Registration No. 333-285450​

### BROOKFIELD BUSINESS PARTNERS L.P.

#### 132,683,978 Limited Partnership Units
This prospectus relates to the registration of up to 132,683,978 non-voting limited partnership units (the “

#### units
”) of Brookfield Business Partners L.P. (the “

#### partnership
”) that from time to time may be (i) issued by the partnership or delivered by Brookfield Business Corporation (“

#### BBUC
”) to satisfy any exchange, redemption or acquisition of class A exchangeable subordinate voting shares (the “

#### exchangeable shares
”) of BBUC (including, if applicable, in connection with liquidation, dissolution or winding up of BBUC) that is made in accordance with the terms of the exchangeable shares as provided in the BBUC articles (as defined herein); or (ii) delivered by our affiliate, Brookfield Corporation, as the selling securityholder named herein (“

#### Brookfield
” or 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 (as defined herein) and the BBUC articles. Brookfield indirectly controls Brookfield Business Partners Limited, our general partner. See “ Exchange of Exchangeable Shares for Units ”.

The 132,683,978 units being registered hereunder include (i) 72,683,978 units in respect of exchangeable shares that are issued and outstanding as of February 25, 2025 and (ii) up to 60,000,000 units in respect of any additional exchangeable shares that may from time to time be issued by BBUC in the future pursuant to Regulation S under the Securities Act of 1933, as amended (the “

#### Securities Act
”) or pursuant to one or more U.S. registration statements.

Pursuant to the BBUC articles, each exchangeable share is exchangeable at the option of the holder thereof for one unit (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at our election), as more fully described in this prospectus. Whether the units are issued by the partnership or delivered by BBUC will be determined by us in our sole discretion. Either (i)