Mr. Zach Peterson reports

CLARIOS COMPLETES UPSIZED PRIVATE OFFERING OF $750 MILLION 6.750% SENIOR SECURED NOTES DUE 2028 AND UPSIZED $2.75 BILLION TERM LOAN FACILITY MATURING 2030

Clarios Global LP has successfully closed its offering of $750-million in aggregate principal amount of senior secured notes due 2028 with a coupon of 6.75 per cent. The Company also announced the closing of a new tranche of term loans (the "New Term Loan Facility") in an aggregate principal amount of $2,750 million at SOFR plus 3.75%. The New Term Loan Facility will mature in May 2030. The weighted average interest rate for the Notes and the New Term Loan Facility is expected to be approximately 7%, based on the current one-month Term SOFR swap rate for 5 years.

Clarios is owned by Brookfield Business Partners (NYSE: BBUC, BBU; TSX: BBUC, BBU.UN) together with institutional partners of Brookfield Asset Management (NYSE, TSX: BAM). Brookfield Business Partners is the flagship listed vehicle of the Private Equity Group of Brookfield Corporation (NYSE, TSX: BN).

The gross proceeds from the offering of the Notes, together with the borrowings under the New Term Loan Facility, were used to repay approximately $3,500 million of borrowings under the Company's existing term loan facility (the "Existing Term Loan Facility") maturing in April 2026. While the Existing Term Loan Facility currently has a margin of LIBOR plus 3.25%, it was expected to transition to SOFR plus a credit spread adjustment plus 3.25% in the coming months as LIBOR will cease to be published after June 30.

The Notes were issued by the Company and Clarios US Finance Company, Inc. (together, the "Issuers"). The Notes and the term loans under the New Term Loan Facility are guaranteed by Clarios International LP ("Holdings"), which owns all of the equity interests of the Issuers, and each of the Company's subsidiaries that are guarantors under the Company's existing credit agreements and the Issuers' existing 6.250% Senior Secured Notes due 2026, 4.375% Senior Secured Notes due 2026, 6.750% Senior Secured Notes due 2025 and 8.500% Senior Notes due 2027.

About Clarios: Clarios is a world leader in advanced energy storage solutions. We partner with our aftermarket and original equipment customers to meet increasing market demand for smarter applications on a global scale. Our approximately 16,800 employees develop, manufacture and distribute a portfolio of evolving battery technologies for virtually every type of vehicle. Our technologies deliver uniquely sustainable, next-generation performance, and bring reliability, safety and comfort to everyday lives. We add value at every link in the supply chain, ensuring that up to 99% of the materials in our batteries are recovered, recycled and reused, contributing to the progress of the communities we serve and the planet we all share.

About Brookfield: Brookfield Business Partners: Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in Brookfield Business Partners either through Brookfield Business Corporation (NYSE, TSX: BBUC), a corporation, or Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), a limited partnership.

Brookfield Business Partners is the flagship listed vehicle of the Private Equity Group of Brookfield Corporation, a leading global alternative asset manager with approximately $800 billion of assets under management.

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