Company: BBU
Filing Date: 2025-03-10
Form Type: 424B3
Source: 0001104659-25-022184
Chunk: 19

Company: Brookfield Business Partners L.P.
Filing Date: 2025-03-10
Form: 424B3
Chunk 19
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 of the partnership, BBUC or the selling securityholder will receive any cash proceeds from the issuance or delivery of any units upon exchange, redemption or acquisition, as applicable, of exchangeable shares pursuant to this prospectus. See “ Exchange of Exchangeable Shares for Units ” below.

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TABLE OF CONTENTS

CAPITALIZATION The following table sets forth the partnership’s capitalization as at September 30, 2024. Our capitalization set forth below does not reflect transactions occurring after September 30, 2024, as described in the footnotes below. You should read this table in conjunction with the financial statements and pro forma financial information that are incorporated by reference in this prospectus.

| US$ MILLIONS, EXCEPT PER UNIT AMOUNTS                         
 Liabilities                                                   | ​ 
 ​ | ​ 
 ​ | As atSeptember 30,2024(1) 
 ​                         | ​ |      ​ | ​ | ​ 
 ​ |
|:--------------------------------------------------------------|:--|:--|:--------------------------|:--|-------:|:--|:--|
| Corporate borrowings                                          | ​ | ​ | ​                         | $ |  1,978 | ​ | ​ |
| Non-recourse borrowings in subsidiaries of the partnership(2) | ​ | ​ | ​                         | ​ | 39,571 | ​ | ​ |
| Other current and non-current liabilities(3)                  | ​ | ​ | ​                         | ​ | 19,346 | ​ | ​ |
| Total liabilities                                             | ​ | ​ | ​                         | $ | 60,895 | ​ | ​ |
| Equity                                                        | ​ | ​ | ​                         | ​ |      ​ | ​ | ​ |
| Limited partners                                              | ​ | ​ | ​                         | ​ |      ​ | ​ | ​ |
| Limited partners(4)(5)                                        | ​ | ​ | ​                         | $ |  1,980 | ​ | ​ |
| Non-controlling interest                                      | ​ | ​ | ​                         | ​ |      ​ | ​ | ​ |
| Redemption-exchange units held by Brookfield(5)               | ​ | ​ | ​                         | ​ |  1,858 | ​ | ​ |
| Special limited partners                                      | ​ | ​ | ​                         | ​ |      — | ​ | ​ |
| BBUC exchangeable shares                                      | ​ | ​ | ​                         | ​ |  1,945 | ​ | ​ |