Mr. Anuj Ranjan reports

BROOKFIELD BUSINESS PARTNERS ANNOUNCES CLOSING DATE OF CORPORATE SIMPLIFICATION

Brookfield Business Partners LP and Brookfield Business Corp. have received all required approvals to complete the previously announced corporate simplification to convert into one publicly traded Canadian corporation.

"Today represents an important milestone in the continued growth and evolution of our business as we near the completion of simplifying our corporate structure," said Anuj Ranjan, chief executive officer of Brookfield Business Partners. "We expect the benefits of converting into a single listed corporate entity -- including greater index inclusion and improved trading liquidity will help broaden our global investor base and support our continued focus on creating long-term value for our shareholders."

The court-approved plan of arrangement is expected to become effective prior to markets open on March 27, 2026. On closing, all Brookfield Business Partners limited partnership units, Brookfield Business Corp. Class A exchangeable shares and redemption-exchange units held by Brookfield will be exchanged for newly issued Class A shares of the new Canadian corporation on a one-for-one basis. The new corporation will assume the name Brookfield Business Corp.

Following completion of the reorganization, the newly issued Class A shares of Brookfield Business Corp. are expected to commence trading on the New York Stock Exchange and the Toronto Stock Exchange under the symbol BBUC on March 31, 2026.

About Brookfield Business Partners LP

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 currently have flexibility to invest in the company either through Brookfield Business Partners LP (NYSE: BBU, TSX: BBU.UN), a limited partnership, or Brookfield Business Corp. (NYSE, TSX: BBUC), a corporation.

Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management's private equity group. Brookfield Asset Management is a leading global alternative asset manager with over $1-trillion of assets under management.

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