• Berkshire Hathaway for industrial and service businesses.

Major Products and Services of Brookfield Business Corporation (BBUC):

• Business Services: Provides a range of essential operating and technical services, including facilities management, real estate services, and consulting.
• Infrastructure Services: Offers services critical to infrastructure, such as utility management, data infrastructure services, and logistics solutions.
• Industrials: Manufactures and supplies various engineered products and components, including graphite electrodes, automotive parts, and specialized industrial materials.
• Energy Transition Services: Delivers services and produces components that support the global shift to sustainable energy sources and related industries.

Brookfield Business Partners (Symbol: BBUC)

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Anuj Ranjan, Chief Executive Officer

Anuj Ranjan joined Brookfield Asset Management in 2006 and leads its global private equity group, also serving as a managing partner of the parent company. As CEO of Brookfield Business Partners, he is responsible for the investments, operations, and expansion of the Private Equity business. His leadership is characterized by strategic foresight and operational expertise, focusing on acquiring and operationally transforming businesses. He has held several senior roles across the organization, including CEO of Brookfield's Private Equity business.

Jaspreet Dehl, Chief Financial Officer

Jaspreet Dehl was appointed Chief Financial Officer of Brookfield Business Partners in September 2018. She is also a Managing Partner in Brookfield's Private Equity Group. Ms. Dehl joined Brookfield in 2011 and has since held various senior finance positions within Brookfield's Private Equity and Private Funds groups. Before her tenure at Brookfield, she was part of the financial advisory services practice at Deloitte, where she specialized in corporate restructuring services and transaction execution services for private equity clients. This background demonstrates a pattern of managing companies backed by private equity firms.

Cyrus Madon, Executive Chairman

Cyrus Madon has served as the Executive Chairman of Brookfield Business Partners since February 2024. He joined Brookfield in 1998 and is a Managing Partner of Brookfield Asset Management Ltd. and Executive Chairman of Brookfield's Private Equity Group. In this capacity, he is responsible for developing strategy and providing investment oversight, review, and approval, working alongside the CEO. Mr. Madon previously held the role of CEO of Brookfield's Private Equity business.

Adrian Letts, Managing Partner of Private Equity & Head of Global Business Operations

Adrian Letts serves as a Managing Partner of Private Equity and is the Head of Brookfield Business Partners' Global Business Operations team. He provides updates on the progress of the company's recent acquisitions.

Alan Matthew Fleming, Managing Partner of Private Equity & Managing Director of Investor Relations

Alan Matthew Fleming is a Managing Partner of Private Equity and the Managing Director of Investor Relations for Brookfield Business Corporation. In his role, he is responsible for cultivating and maintaining strong relationships with the company's diverse investor base, communicating Brookfield's strategic direction, financial performance, and growth opportunities.

Key Risks to Brookfield Business (BBUC)

1. Persistent Net Losses and Lack of Visible Profit Growth Drivers: Brookfield Business (BBUC) has experienced persistent net losses and a lack of clear drivers for profit growth, which poses a significant risk to its valuation and financial performance. Recent financial reports indicate a drop in sales and widening net losses, suggesting ongoing financial headwinds.
2. Holding Lower-Quality Assets and Complex Corporate Structure: BBUC is noted to hold lower-quality assets, and its intricate corporate structure, along with discretionary asset allocation by Brookfield, may result in BBUC acquiring less attractive investments compared to Brookfield Business Partners (BBU). This raises concerns about the potential for future returns and the quality of its investment portfolio.
3. Significant Debt Load and Financial Stress within Portfolio Companies: The company faces risks associated with a substantial on-balance-sheet debt load and potential off-balance-sheet liabilities. Furthermore, its portfolio is heavily weighted with companies that have "deep junk" credit ratings, indicating a heightened risk of default. Recent investment failures, such as Healthscope and Altera Investment, underscore these financial vulnerabilities.

Brookfield Business (symbol: BBUC) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic acquisitions, operational enhancements, capital recycling, and organic growth within key segments.

Here are 3-5 expected drivers of future revenue growth:

• Strategic Acquisitions: Brookfield Business actively pursues and completes strategic acquisitions to expand its portfolio and enhance revenue. The company recently completed the acquisition of a Canadian residential and multi-family mortgage lender, and has invested in other strategic growth acquisitions, such as First National Financial. This strategy of integrating new businesses into its operations is a significant driver for future revenue.
• Operational Enhancements and AI Implementation: The company is focused on enhancing the operational performance of its existing businesses and leveraging technology for efficiency. Brookfield Business aims for continued AI-driven productivity improvements and operational efficiencies across its portfolio. This focus is intended to optimize current assets and drive increased earnings and cash flows.
• Capital Recycling and Reinvestment: Brookfield Business employs a strategy of capital recycling, generating funds from its capital recycling program and reinvesting this capital into strategic growth initiatives and acquisitions. This continuous process allows the company to reallocate capital to higher-growth opportunities and further expand its operations.
• Organic Growth in Key Segments: Certain segments within Brookfield Business's portfolio are expected to contribute to organic revenue growth. For instance, the advanced energy storage operation has shown strong performance driven by growing demand, increased volumes of advanced batteries, and a positive shift towards higher-margin products. Similarly, the residential mortgage insurance segment continues to benefit from resilient demand, including from first-time homebuyers. These specific areas of strength within existing businesses are anticipated to drive revenue expansion.

Share Repurchases

• Brookfield Business Corporation (BBUC) renewed its share repurchase program in August 2025, authorizing the buyback of up to 3,499,836 exchangeable shares, representing 5% of outstanding securities, through August 2026.
• Under a previous normal course issuer bid from August 2024 to August 2025, BBUC repurchased a total of 2,957,523 Exchangeable Shares at a weighted average price of US$25.93 per share.
• In the first quarter of 2025, BBUC repurchased $33 million in exchangeable shares.

Share Issuance

• No significant share issuances for capital raising by Brookfield Business Corporation were identified within the last 3-5 years. The number of shares outstanding for BBUC decreased by 4.05% in one year.

Inbound Investments

• No significant third-party inbound investments directly into Brookfield Business Corporation were identified within the last 3-5 years.

Outbound Investments

• In July 2022, Brookfield Business Corporation, along with institutional partners, completed the acquisition of CDK Global for a total consideration of $8.3 billion.
• BBU invested $146 million for an 11% interest in the privatization of First National Financial Corporation, a Canadian residential and multi-family mortgage lender, which was completed in October 2025.
• In the second quarter of 2025, BBU invested $300 million to acquire two market-leading businesses.

Capital Expenditures

• Brookfield Business Corporation's capital expenditures were -$274.00 million in the last 12 months leading up to November 2025.
• Capital expenditures for property, plant, and equipment and intangible assets amounted to -$10 million in the first quarter of 2025.