Brookfield Business Partners LP announced that it has renewed its regular course offering of a limited partnership unit.

BROOKFIELD, N.Y., Aug. 12, 2022 (GLOBE NEWSWIRE) — Brookfield Business Partners LP (NYSE: BBU ) (TSX: BBU.UN ) (“Brookfield Business Partners”) today announced on the Toronto Stock Exchange (“TSX”). ) has received notice from Brookfield Business Partners to renew its normal course issuer bid for limited partnership units (“Units”). Brookfield’s business partners believe that acquiring the units may represent a good use of available funds as they trade in a price range that does not fully reflect their value.

Pursuant to a regular course issuer bid, the board of directors of the general partner of Brookfield Business Partners has authorized the partnership to purchase up to 5% or 3,730,593 shares of the total issued and outstanding shares. In the year At the close of business on August 9, 2022, there were 74,611,871 units issued and outstanding. In the regular course issuer bid, Brookfield Business Partners may purchase up to 17,678 units on any trading day on the TSX, representing 25% of the average daily trading volume of 70,714 units 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 Partners completes the repurchases prior to that date.

Under the twelve-month normal course offering from August 17, 2021, Brookfield Business Partners has agreed to purchase up to 3,929,206 units and to repurchase 3,928,914 units at a weighted average price of US$35.44 (US$27.35). Brookfield Business Corporation’s special distribution to Brookfield Business Corporation on March 15, 2022 for one unit on the facilities of the TSX and the New York Stock Exchange and its facilities in Canada and the United States classified as money exchanges and alternative trading systems.

Under the renewed regular course issuer bids, all shares will be 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. The course provider’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 Partners will enter into an automatic purchase plan in connection with the normal course issuer bid on or about the week of September 26, 2022. In the event that Brookfield Business Partners is not active in the market due to its own insider trading suspension, insider trading rules or otherwise, the automatic purchase plan allows the purchase of units subject to certain trading parameters. Outside of these periods, units are subject to management discretion and applicable law.

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. OBJECTIVES, STRATEGIES AND ATTITUDES OF BROOKFIELD’S BUSINESS PARTNERS, AS WELL AS THE OUTLOOK OF THE NORTH AMERICAN AND GLOBAL ECONOMICS FOR FISCAL YEAR 2010 AND CONTINUOUS PERIODS AND AS “ANTICIPATES,” “ANTICIPATES,” “PLANS,” “BELIEVES,” “ESTIMATES,” “INTENDS,” 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 contain known and known facts. Unknown risks, uncertainties and other factors, many of which are beyond our control, may cause the actual results, performance or achievements of Brookfield’s business partners to differ materially from expected future results, performance or achievements in forward-looking statements and information.

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 Partners undertakes no obligation to update or revise any forward-looking statements or information, whether written or oral, as a result of new information, future events or otherwise.