Brookfield Business Corp

This Form 20-F contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of our group, as well as regarding recently completed and proposed acquisitions, dispositions and other transactions, and the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets”, “projects”, “forecasts”, “views”, “potential”, “likely” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”.

Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information in this Form 20-F are based upon reasonable assumptions and expectations, investors and other readers should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of our company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and result of operations and our plans and strategies may vary materially from those expressed in the forward-looking statements and forward-looking information herein.

•the cyclical nature of our operating businesses and general economic conditions and risks relating to the economy, including unfavorable changes in interest rates, foreign exchange rates, inflation, commodity prices and volatility in the financial markets;

•the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits;

•business competition, including competition for acquisition opportunities;

•strategic actions including our ability to complete dispositions and achieve the anticipated benefits therefrom;

•restrictions on our ability to engage in certain activities or make distributions due to our indebtedness;

•global equity and capital markets and the availability of equity and debt financing and refinancing within these markets;

•changes to our credit ratings;

•changes to U.S. laws or policies, including changes in U.S. domestic and economic policies and foreign trade policies and tariffs;

•technological change;

•the ability to obtain insurance for our business operations;

•litigation;

•investments in jurisdictions with less developed legal systems;

•we do not have control over all of the businesses in which we own investments;

•changes to the market price of any investments in public companies;

•our compliance with environmental laws and the broader impacts of climate change;

•cybersecurity incidents;

•the possible impact of international conflicts, wars and related developments including terrorist acts and cyber terrorism;

•the market price of our Class A Shares may be volatile;

•political instability and unfamiliar cultural factors;

•changes in government policy and legislation;

•operational or business risks that are specific to any of our business services operations, infrastructure services operations or industrials operations;

•reliance on third party service providers;

•Brookfield’s significant influence over us;

•the lack of an obligation of Brookfield to source acquisition opportunities to us;

•the departure of some or all of Brookfield’s professionals;

•control of our company may change without shareholder consent;

•Brookfield may increase its ownership in our company;

•none of British Columbia corporate law, our Master Services Agreement or our other arrangements with Brookfield impose on Brookfield any fiduciary duties to act in the best interests of our shareholders;

•conflicts of interest between our company and our shareholders, on the one hand, and Brookfield, on the other hand;

•our arrangements with Brookfield may contain terms that are less favorable than those which otherwise might have been unrelated parties;

•we may be unable or unwilling to terminate our Master Services Agreement;

•the limited liability of, and our indemnification of, the Service Providers;

•Brookfield’s relationship with Walled-Off Businesses;

•our company is a holding entity that relies on its subsidiaries, including BBU and Holding LP, to provide us with the funds necessary to pay dividends and meet our financial obligations;

•we may be subject to the risks commonly associated with a separation of economic interest from control or the incurrence of debt at multiple levels within an organizational structure;

•our company may become regulated as an investment company under the Investment Company Act;

•future sales or issuances of our securities will result in dilution of existing holders and even the perception of such sales or issuances taking place could depress the trading price of the Class A Shares;

•limits on shareholders’ ability to obtain favorable judicial forum for disputes related to the company or to enforce judgements against us;

•changes in tax law and practice; and

•other risks and factors detailed in this Form 20-F, including, but not limited to, those described under Item 3.D “Risk Factors” and elsewhere in this Form 20-F.

Statements relating to “reserves” are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described herein can be profitably produced in the future.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

In light of these risks, uncertainties and assumptions, the reader should not place undue reliance on forward-looking statements or information as a prediction of actual results. These risks, uncertainties and assumptions could cause our actual results and our plans and strategies to vary from our forward-looking statements or information. We qualify any and all of our forward-looking statements by these cautionary factors. Please keep this special note in mind as you read this Form 20-F. We undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise, except as required by law.