Brookfield Business Partners chair reports holdings

Q: How are the Class A Exchangeable Shares related to BBU’s Non-Voting Limited Partnership Units?

The Class A Exchangeable Subordinate Voting Shares are exchangeable into Non-Voting Limited Partnership Units of Brookfield Business Partners L.P. on a one-for-one basis. The issuer may instead choose to deliver a cash equivalent, with the form of payment determined at its election.

Brookfield Business Partners L.P.

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Filing Sentiment

(Neutral)How Sentiment works

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Form Type

Rhea-AI Filing Summary

Brookfield Business Partners L.P. Executive Chairman Cyrus Madon filed an initial ownership report showing direct holdings in the partnership’s equity structure. He reports 45,815 Class A Exchangeable Subordinate Voting Shares of Brookfield Business Corporation, which are exchangeable on a one-for-one basis into Non-Voting Limited Partnership Units or their cash equivalent, and 91,630 Non-Voting Limited Partnership Units of Brookfield Business Partners L.P. held directly.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Madon Cyrus

Role Executive Chairman

Type	Security	Shares	Price	Value
holding	Class A Exchangeable Subordinate Voting Shares	--	--	--
holding	Non-Voting Limited Partnership Units	--	--	--

Holdings After Transaction: Class A Exchangeable Subordinate Voting Shares — 45,815 contracts (Direct); Non-Voting Limited Partnership Units — 91,630 shares (Direct)

Footnotes (1)

F1. Represents Class A Exchangeable Subordinate Voting Shares of Brookfield Business Corporation which are exchangeable into Non-Voting Limited Partnership Units of Brookfield Business Partners L.P. on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of Brookfield Business Partners L.P.).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Cyrus Madon’s Form 3 filing for Brookfield Business Partners (BBU) disclose?

The Form 3 discloses Cyrus Madon’s initial ownership in Brookfield Business Partners securities. It reports his direct holdings of Class A Exchangeable Subordinate Voting Shares and Non-Voting Limited Partnership Units, establishing a baseline of his equity stake as Executive Chairman.

How many Class A Exchangeable Subordinate Voting Shares does Cyrus Madon report for BBU?

Cyrus Madon reports 45,815 Class A Exchangeable Subordinate Voting Shares. According to the disclosure, these shares are issued by Brookfield Business Corporation and can be exchanged into Non-Voting Limited Partnership Units of Brookfield Business Partners L.P. or a cash equivalent on a one-for-one basis.

How many Non-Voting Limited Partnership Units of Brookfield Business Partners (BBU) does Cyrus Madon hold?

He reports holding 91,630 Non-Voting Limited Partnership Units directly. This figure represents his direct ownership position in the limited partnership units of Brookfield Business Partners L.P. as reflected in the initial ownership statement filed on Form 3.

Does Cyrus Madon’s Form 3 indicate any recent buying or selling of BBU securities?

The disclosure functions as an initial ownership statement and lists holdings rather than explicit purchases or sales. Transactions are coded as holdings with unknown transaction direction, so it primarily establishes existing positions instead of highlighting new market trades.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 04:25 PM EDT

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Madon Cyrus

(Last)

(First)

(Middle)

C/O BROOKFIELD BUSINESS PARTNERS L.P.

73 FRONT STREET, FIFTH FLOOR

(Street)

HAMILTON

HM 12

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Brookfield Business Partners L.P. [ BBU ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Executive Chairman

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Non-Voting Limited Partnership Units	91,630	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Exchangeable Subordinate Voting Shares⁽¹⁾	⁽¹⁾	⁽¹⁾	Non-Voting Limited Partnership Units	45,815	⁽¹⁾	D

Explanation of Responses:

1. Represents Class A Exchangeable Subordinate Voting Shares of Brookfield Business Corporation which are exchangeable into Non-Voting Limited Partnership Units of Brookfield Business Partners L.P. on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of Brookfield Business Partners L.P.).

Remarks:

Exhibit List - Exhibit 24 - Power of Attorney

	/s/ Arin Jonathan Silber, Attorney-in-Fact	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR