Brookfield Business Partners

Brookfield Business Partners C O R P O R AT E P R O F I L E FEBRUARY 2018

Brookfield Business Partners ( BBU ) We are a business services and industrials company focused on long-term capital appreciation Own and operate high-quality businesses that benefit from barriers to entry and/or low production costs Target long-term growth through acquisitions and organic growth in our business units, surfacing value through our operational expertise Leverage the broader Brookfield platform as an owner and operator of real assets where it provides us with a competitive advantage Flexibility to invest in multiple industries, geographies and in a variety of forms BBU NYSE BBU.UN TSX $4.5B MARKET CAP 1 1) As of December 31, 2017 2

Today, we invest across four segments Business Services Industrials Business Services Industrial Operations Facilities management Real estate services Road fuel distribution and marketing Logistics Financial advisory services Graphite electrode production Water and wastewater services Specialty metals and aggregates Pre-cast concrete construction products Construction Energy Design Program management Procurement Oil and gas exploration and production Oilfield and marine services 3

2017 Financial Snapshot Total Assets $15.8 billion 1 Book Equity $3.0 billion 1,2 Corporate 2% 17% Construction Services Corporate 10% 31% Construction Services Industrial Operations 37% Energy 11% 33% Business Services Industrial Operations 22% 22% Energy 15% Business Services US$ millions $90 $70 $50 $30 $10 -$10 -$30 -$50 Company EBITDA $240 million 3,4 $83 Business Services $20 Construction $87 Industrial Operations $91 Energy ($41) Corporate $135 $130 $125 $120 $115 $110 $105 $100 $95 $90 $85 $80 $75 $70 $65 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 -$5 $0 $5 -$10 -$15 -$20 -$25 -$30 -$35 -$40 -$45 US$ millions $66 Business Services Company FFO $252 million 3,4 $26 Construction $132 Industrial Operations 1) Unaudited, as of December 31, 2017 2) Attributable to limited partnership unitholders, general partnership unitholders, redemption-exchange unitholders, preferred shareholders and special limited partnership unitholders 3) Unaudited, for the year ended December 31, 2017 4) Attributable to limited partnership unitholders, general partnership unitholders, special limited partnership unitholders and redemption-exchange unitholders $52 Energy ($24) Corporate 4

Global Operations $15.8B ASSETS NORTH AMERICA $5.0 billion U.K & EUROPE $4.2 billion 70+ INVESTMENT PROFESSIONALS ~600 LOCATIONS SOUTH AMERICA $4.2 billion MIDDLE EAST & ASIA $1.0 billion AUSTRALIA $1.4 billion Note: At December 31, 2017 5

Our strategy is to acquire and manage high quality operations globally We target 15% to 20% average return on our investments Business Strategy Acquire high quality businesses on a value basis Actively manage operations to enhance their value by focusing on margins, cash flows and profitability Surface value by selling non-core assets and raising non-recourse financing Opportunistically recycle capital, selling interests in businesses when value is maximized Owner-operator of high-quality businesses Leverage the boarder Brookfield platform 6

Disciplined financial risk management Maintaining a strong, flexible balance sheet with ample liquidity at the corporate level to take advantage of attractive opportunities Financing Assets Managing Liquidity Non-recourse financing at the operating asset level Weighted average debt maturity of 5.4 years 1 Maintain appropriate net debt to total capitalization for the business Cash flows from operations Opportunistically monetizing mature assets and operations Strategically refinancing existing debt and incurring additional debt No debt drawn at the corporate level Limited recourse for performance bonds and construction guarantees 1) At December 31, 2017 7

Operating Segments 8

Business Services Service businesses in commercial and residential real estate, fuel distribution and marketing and financial advisory Broad exposure for our unitholders to the commercial and residential real estate services sectors Offering a suite of services globally and across the service value chain for real estate and other real assets including facilities management, brokerage services, appraisals and relocation services Our road fuels distribution and marketing business comprises a leading supplier in the U.K. and a network of gas stations across Canada We manage and operate three Toronto-area gaming facilities which generate over $1 billion in gross gaming revenue annually Our financial advisory business is part of a global services company specializing in real estate, infrastructure and power 300 M+ SQ. FT MANAGED REAL ESTATE ~67,500 REAL ESTATE AGENTS U.S AND CANADA NETWORKS ~300 kt BIODIESEL CAPACITY Ontario Gaming GTA 9

Construction Services Provide construction and related services globally, including design, program management and procurement Leading international contractor operating in Australia, Europe, the Middle East, Canada and India Operates under the Multiplex banner Extensive development and construction capability to drive value creation Focus on commercial and residential buildings, social infrastructure and mixed-use properties Landmark projects include One St. George Wharf in London, King Street Wharf in Sydney and Emirates Towers in Dubai ~1,050 CURRENT AND DELIVERED PROJECTS SINCE INCEPTION $8.7 billion+ BACKLOG 10

Industrials Industrials including manufacturing, metals & mining and water supply and treatment Our industrial manufacturing and metals & mining operations leverage Brookfield s expertise as an owner and operator of real assets Industrial manufacturing operations are low-cost producers with high barriers to entry due to market position, required operational expertise, or capital intensity Water distribution, collection and treatment business operates through long-term concessions and public-private partnerships Metals & mining operations are specialty, niche commodity producers that supply local and global markets ~6,400 TONNES PER DAY PALLADIUM PRODUCTION 1 15 million CUSTOMERS WATER & WASTEWATER SERVICES 1) Underground mining production in December 2017 11

Energy Oil and gas exploration & production and energy related services Our energy businesses operate across the supply chain including exploration and production, and services to the oil industry Gas operations in Western Canada with orientation toward long-life, low-cost reserves located at shallow depths, and Australian operations focused on long-life, contracted natural gas reserves and high return offshore oil projects Leading provider of critical transportation and production services to the offshore oil industry, providing services under medium to long-term, fixedrate contracts Contract drilling and well servicing business in Western Canada provides equipment and expertise to meet the needs of our upstream customers ~86% / ~14% GAS / OIL PRODUCTION ~97,000 BARRELS OF OIL EQUIVALENT PER DAY OF PRODUCTION 12

Strategic Initiatives 13

Westinghouse Electric Company Definitive agreement to acquire 100% of Westinghouse Electric Company ( Westinghouse ), a leading global provider of infrastructure services to the power generation industry 1 Iconic U.S. company, largest service provider to the world s nuclear power facilities, providing sophisticated engineering, maintenance, facilities management and repair services ~$4.6 billion purchase price, expected to be financed with ~$1 billion of equity, ~$3 billion of long-term debt and by the assumption of certain obligations ~ 50% equity commitment by BBU and the remainder by institutional partners 2 Investment Highlights Leading market player with barriers to entry providing critical services to nuclear power facilities Cash flows underpinned by long-term contracts for regularly scheduled services Strong reputation as a technology leader in the nuclear power industry Growth Enhancing and expanding service offerings Provision of leading technology, including AP1000 design 1) There can be no assurance that Brookfield Business Partners will close this transaction 2) Brookfield Business Partners investment may be syndicated to other institutional investors 14

Schoeller Allibert Definitive agreement to acquire 75% controlling interest in Schoeller Allibert Group B.V. ( Schoeller Allibert ), one of Europe s largest manufacturers of returnable plastic packaging 1 Extensive expertise in packaging for the agriculture, automotive, food and food processing, beverage, retail, industrial manufacturing and pooling industries 205 million purchase price. 50 million equity commitment by BBU and the remainder by institutional partners 2 The founding family, Schoeller Group, will own the remaining 25% as a long-term partner Investment Highlights Strong competitive position and barriers to entry from manufacturing scale, reputation for quality and intellectual property Customer base, many with long-term relationships, diversified over segments and geographies Growth Expected growth in the returnable packaging industry driven by sustainability requirements, waste reduction, e-commerce and logistics automation Organic growth opportunities through product and services innovation International expansion, organically and through bolton acquisitions, supported by Brookfield s global presence 1) There can be no assurance that Brookfield Business Partners will close this transaction 2) Brookfield Business Partners investment may be syndicated to other institutional investors 15

Appendices 16

Selected Segmented Financial Information The following tables present selected income statement and balance sheet information by operating segment on a proportionate basis: Statements of Operating Results Statements of Financial Position Three months ended Dec. 31, Year ended Dec. 31, US$ MILLIONS, UNAUDITED 2017 2016 2017 2016 Company EBITDA by segment Business Services $ 35 $ 20 $ 83 $ 69 Construction Services 4 35 20 104 Industrial Operations 36 (1) 87 11 Energy 46 17 91 72 Corporate and Other (13) (8) (41) (16) Company EBITDA $ 108 $ 63 $ 240 $ 240 US$ MILLIONS, UNAUDITED As of Dec. 31, 2017 Dec. 31, 2016 Net debt by segment Business Services $ 327 $ 132 Construction Services (234) (162) Industrial Operations 361 164 Energy 151 188 Corporate and Other (392) (573) Net debt $ 213 $ (251) Company FFO by segment Business Services $ 22 $ 19 $ 66 $ 54 Construction Services - 31 26 94 Industrial Operations 23 (2) 132 6 Energy 26 16 52 63 Corporate and Other (3) (9) (24) (17) Company FFO 1 $ 68 $ 55 $ 252 $ 200 Equity attributable to unitholders by segment Business Services $ 448 $ 357 Construction Services 959 877 Industrial Operations 661 372 Energy 660 344 Corporate and Other 310 551 Equity attributable to unitholders 1 $ 3,038 $ 2,501 Total equity Business Services $ 1,010 $ 622 Construction Services 959 886 Industrial Operations 2,650 1,152 Energy 1,135 827 Corporate and Other 310 551 Total equity $ 6,064 $ 4,038 1) Company FFO is a non-ifrs measure and is calculated as net income excluding the impact of depreciation and amortization, deferred income taxes, breakage and transaction costs, non-cash gains or losses and other items. When determining Company FFO, we include our proportionate share of Company FFO of equity accounted investment. For further information on Company FFO, see Definitions at the back of the Corporate Profile. 17

Governance Senior Management Team Cyrus Madon Chief Executive Officer Peter Gordon Chief Operating Officer Craig Laurie Chief Financial Officer Ralf Rank Chief Investment Officer, Services Joe Freedman Senior Vice Chairman Jim Reid Chief Investment Officer, Energy Jaspreet Dehl Managing Director David Aiken Chief Investment Officer, Industrials Brookfield Business Partners has entered into a Master Services Agreement with Brookfield Asset Management Provides a comprehensive suite of services to Brookfield Business Partners Base management fee equal to 1.25% annually of total capitalization of Brookfield Business Partners Brookfield is entitled to receive incentive distributions equal to 20% of an increase in the unit price of BBU over the incentive distribution threshold (currently $31.19/unit) 1) For further information regarding the arrangements refer to the Management Services Agreement available in the public filings of Brookfield Business Partners in the U.S. and Canada 18

Investor Relations contact: Courtney Burke North America 1-866-989-0311 Global +1-416-363-9491 Email: bbu.enquiries@brookfield.com 19 19

Definitions and Use of Non-IFRS Measures Company Funds From Operations (Company FFO), where applicable, is a key measure of our financial performance and we use Company FFO to assess operating results and our business performance. Company FFO is a non-ifrs measure which does not have any standard meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Company FFO is calculated as net income excluding the impact of depreciation and amortization, deferred income taxes, breakage and transaction costs, non-cash gains or losses and other items. Company FFO is presented net to unitholders, or net to parent company. When determining Company FFO, we include our proportionate share of Company FFO of equity accounted investments. For further information on Company FFO see Use of Non IFRS Measures on page 1 of the 20-F. Company EBITDA, where applicable, is a key measure of our financial performance and we use Company EBITDA to assess operating results and our business performance. Company EBITDA is non-ifrs measure which does not have any standard meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Company FFO is further adjusted as Company EBITDA to exclude the impact of realized disposition gains (losses), interest expense, current income taxes, and realized disposition gain, current income taxes and interest expenses related to equity accounted investments. Company EBITDA is presented net to unitholders, or net to parent company. For further information on Company EBITDA see Use of Non IFRS Measures on page 1 of the 20-F. Equity attributable to unitholders is exclusive of the equity interest of others in our operating subsidiaries Unitholders are defined as the parent company prior to the Spin-off on June 20, 2016 and as limited partnership unitholders, general partnership unitholders, special limited partnership unitholders and redemption-exchange unitholders post Spin-off. 20

Important Cautionary Notes All amounts are in U.S. dollars unless otherwise specified. Unless otherwise indicated, the statistical and financial data in this document is presented as of December 31, 2017. CAUTIONARY STATEMENT REGARDING FORWARD- LOOKING STATEMENTS AND INFORMATION This Corporate Profile contains forward-looking information within the meaning of Canadian provincial securities laws and forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. 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 Brookfield Business Partners and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods. In some cases, forward-looking statements can be identified by terms such as expects, anticipates, plans, believes, estimates, seeks, intends, targets, projects, forecasts 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 are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forwardlooking statements and information because they involve 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 Brookfield Business Partners L.P. and its subsidiaries to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; the behavior of financial markets, including fluctuations in interest and foreign exchanges rate; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate; changes in tax laws, catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States. 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 qualify any and all of our forward-looking statements by these cautionary factors. We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, Brookfield Business Partners undertakes 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. CAUTIONARY STATEMENT REGARDING USE OF NON-IFRS MEASURES This Corporate Profile contains references to Company FFO. When determining Company FFO, we include our unitholders proportionate share of Company FFO for equity accounted investments. Company FFO is not a generally accepted accounting measure under IFRS and therefore may differ from definitions of Company FFO or Funds from Operations used by other entities. We believe that this is a useful supplemental measure that may assist investors in assessing the financial performance of Brookfield Business Partners and its subsidiaries. Company FFO should not be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, analysis of our financial statements prepared in accordance with IFRS. 21