Brookfield Business Corporation announced a regular course issuer bid

BROOKFIELD, N.Y., Aug. 12, 2022 (GLOBE NEWSWIRE) — Brookfield Business Corporation (NYSE, TSX: BBUC) today announced that the Toronto Stock Exchange (“TSX”) has accepted the Notice of Interest in Brookfield Business Corporation. Subordinate Voting Shares (the “Shares”) that are convertible to Class A to establish a normal course tender offer. Brookfield Business Corporation believes that the purchase of shares may represent an attractive use of funds when the shares trade in a price range that does not fully reflect their value.

Pursuant to a regular course issuer bid, the board of directors of Brookfield Business Corporation has authorized the corporation to purchase up to 5% or 3,647,810 shares of the total outstanding shares. In the year At the close of business on August 9, 2022, there were 72,956,217 shares issued and outstanding. Through the normal course issuer bid, Brookfield Business Corporation may purchase up to 13,916 shares on any trading day on the TSX, representing 25% of the average daily trading volume of 55,666 on the TSX during the period from February 1, 2022 to July 31. , 2022. The repurchases are permitted to begin on August 17, 2022 and will terminate on August 16, 2023, or earlier if Brookfield Business Corporation completes the repurchases prior to such date.

The regular course issuer bids are traded on the TSX and the New York Stock Exchange, as well as on specialized exchanges and alternative trading systems in Canada and the United States, and all shares are acquired at regular course. The bidder’s bid will be cancelled. Repurchases will be subject to compliance with applicable United States federal securities laws, including Rule 10b-18 of the United States Securities Exchange Act of 1934, as amended, as well as applicable Canadian securities laws.

Brookfield Business Corporation will issue an automatic purchase plan on or about the week of September 26, 2022 in connection with the regular course issuer bid. The Automatic Purchase Plan allows Brookfield Business Corporation to purchase shares subject to certain trading parameters during its own insider trading cut-off period, insider trading rules or when the market is otherwise inactive. Outside of these periods, shares are redeemable at the discretion of management and in accordance with applicable law.

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Brookfield Business Partners It is a global business services and industrial company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have the option of investing in our company through Brookfield Business Partners LP (NYSE: BBU; TSX: BBU.UN ), a limited partnership, or through Brookfield Business Corporation (NYSE: TSX: BBUC ), a corporation. For more information, please visit https://bbu.brookfield.com.

Brookfield Business Partners is the principal listed vehicle of Brookfield Asset Management’s private equity group. Brookfield Asset Management is a leading global alternative asset manager with over $750 billion under management. More information is available at www.brookfield.com.

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Cautionary Statement Regarding Forward-Looking Statements and Information

Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the US Securities Act of 1933, as amended by US Securities Section 21E. The Exchange Act of 1934, as amended, the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, and any Canadian securities regulations. Forward-looking statements include statements that are predictive in nature, dependent on or refer to future events or conditions, regarding operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, future conditions. Brookfield Business Corporation’s objectives, strategies and outlook, as well as its outlook for the North American and global economies for fiscal year 2010 and subsequent periods, and such statements as “expects,” “expects,” “plans,” “believes,” “estimates,” “expects,” “ plans,” “targets,” “projects,” “forecasts,” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should be.” ”, “could” and “could.

Although we believe that our expected results, performance or achievements expressed or implied by forward-looking statements and information are based on reasonable assumptions and expectations, the reader should not place undue reliance on statements and information that include what is known and known. Many risks, uncertainties and other factors and information beyond our control may cause Brookfield Business Corporation’s actual results, performance or achievements to differ materially from future expectations.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: the impact or unanticipated impact of general economic, political and market conditions in the countries in which we do business; Due to the ongoing novel coronavirus (SARS-CoV-2) outbreak, including any SARS-CoV-2 variants (collectively “COVID-19”); the behavior of financial markets, including interest and foreign exchange rates; global equity and capital markets and the availability of equity and debt financing and restructuring in these markets; tendencies including strategic actions; ability to complete and effectively integrate acquisitions into existing operations and achieve anticipated benefits; changes in accounting policies and methods used to report financial position (including uncertainties related to critical accounting estimates and assumptions); Ability to properly manage human capital; effect of implementing future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation in the countries in which we operate; Government investigations; dispute Changes in tax laws; Ability to collect debts; Catastrophic events such as earthquakes; Storms and epidemics/epidemics; International conflicts, wars and related developments, including Russian military operations in Ukraine, acts of terrorism and cyber terrorism; Other risks and factors listed from time to time in our filings with safety regulators in Canada and the United States.

In addition, our future results may be adversely affected by government-mandated restrictions and related international trade and travel restrictions due to Covid-19, and high volatility in global stock markets, affecting our ability to identify and complete. Future transactions may affect our liquidity position and reduce cash flow and result in losses and/or write-downs on our investments and assets, and therefore we may not be able to achieve our expected returns. See the “Risk Factors” section under “Risks Related to the COVID-19 Pandemic” included in our most recently filed Form 20-FA Management’s Discussion and Analysis of Financial Condition and Results of Operations.

We caution that the above is not a list of important factors that may affect future results. When relying on our forward-looking statements, investors and others should carefully consider the above factors and other uncertainties and potential events. Except as required by law, Brookfield Business Corporation undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, as a result of new information, future events or otherwise.