Brookfield Business Partners

Corporate ProfileNovember 2016

Important Cautionary Notes

This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities.

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 September 30, 2016.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATIONThis Corporate Profile contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning ofSection 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 StatesPrivate 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 andinternational 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 uponreasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknownrisks, 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 unanticipatedimpact 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 foreignexchanges rate; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; theability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies and methods used to reportfinancial 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, catastrophicevents, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed fromtime 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 thereserves 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 shouldcarefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, Brookfield Business Partners undertakes no obligation to publiclyupdate 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 MEASURESThis Corporate Profile contains references to Company FFO. When determining Company FFO, we include our unitholders’ proportionate share of Company FFO for equityaccounted investments. Company FFO is not a generally accepted accounting measure under IFRS and therefore may differ from definitions of Company FFO or Funds fromOperations used by other entities. We believe that this is a useful supplemental measure that may assist investors in assessing the financial performance of Brookfield BusinessPartners 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.

2

Overview

3

Overview of Brookfield Business Partners

Business services and industrials company focused on long-term capital appreciation

KEY ATTRIBUTES

• Focus on owning and operating high-quality businesses that benefit from barriers to entry and/or low production costs

• We target long-term growth, either organic growth of our current operations or acquisitions where our operational expertise can surface value and enhance earnings

• Our business is principally focused on operations where the broader Brookfield platform provides us with a competitive advantage, and where we are able to leverage the history and pedigree of Brookfield as an owner and operator of real assets

• We have flexibility to invest in multiple industries in a variety of forms, meaning we may acquire debt or equity securities, or provide financing to companies, in addition to business acquisitions

NYSE: BBUTSX: BBU.UN

MARKET SYMBOL

4

Our Business has Diversified Operations

5

Business Services Industrials

Provide construction and related services globally, including:• Design• Program

Management• Procurement

Provide business services to global clients, including:• Real Estate

Services• Logistics • Facilities

Management • Financial Services

Energy supply chain operations:• Oil & Gas

Production – low cost, low decline, long-life assets

• Oilfield Services

Industrial manufacturing operations: • Graphite Electrode

Production• Pre-cast Concrete

Construction Products

• Aggregates• Specialty Metals

9%Corporate

16%

41%

19%

15%

ConstructionServices

Other BusinessServicesEnergy

Other Industrials

27%28%

23%19%

3%Construction

Services

Other BusinessServicesEnergy

Other Industrials

Corporate

TOTAL ASSETS $8.1 BILLION1 BOOK EQUITY $2.1 BILLION1,2

Q3-16 Financial Snapshot

FFO $50 MILLION3,4

1. As of September 30, 2016 2. Attributable to parent company prior to the Spin-off on June 20, 2016 and to limited partnership

unitholders, general partnership unitholders, and redemption-exchange unitholders post Spin-off. Post Spin-off, equity is also attributable to preferred shareholders and Special LP unitholders

3. Three months ending September 30, 2016 4. Attributable to limited partnership unitholders, general partnership unitholders, and redemption-exchange

unitholders

Energy4%

ConstructionServices

56%

$1.1

$0.5

$0.1

$0.3

$0

$1,500

Construction OtherBusinessSevices

Energy OtherIndustrials

TOTAL REVENUES $2.0 BILLION3

$16 $18

$12 $11

($7)-$10

-$5

$0

$5

$10

$15

$20

Construction OtherBusinessSevices

Energy OtherIndustrials

Corporate

US$ billions US$ millions

6

Global Operations

1. As of September 30, 2016

NORTH AMERICA

EUROPE

AUSTRALIA

MIDDLE EAST & ASIA

ASSETS $4.6 Billion

ASSETS $1.1 Billion

ASSETS $1.5 Billion

ASSETS $0.9 Billion

200+LOCATIONS

$8.1 Billion1ASSETS

7

Value Proposition – Long Term Capital Appreciation

We target a 15% to 20% average return on our investments

Business Strategy

• Target acquisitions of high quality businesses on a value basis or in “out-of-favor” sectors

• Active management approach to enhance value of our operations by focusing on profitability, product margins and cash flows or through sale of non-core assets

• Surface value of hidden assets and realize value of our operations when they can be maximized

• Opportunistically recycle capital

8

Liquidity and Capital Resources

Brookfield Business Partners maintains a strong balance sheet with ample liquidity and a consolidated net debt to capitalization ratio of 23%

We manage our liquidity and capital requirements through:

• Cash flows from operations

• Opportunistically monetizing mature assets and operations

• Strategically refinancing existing debt and incurring additional debt

MANAGING LIQUIDITY

We finance our assets principally at the operating company level with debt that generally does not have recourse against either our company or to our other operations

• Maturities ranging from 1 to 7 years

• Weighted average maturity is 2.3 years and weighted average interest rate is 3.9%

• These borrowings typically include customary covenants based on a fixed charge coverage ratio and debt to EBITDA ratios

We have no net debt at the corporate level

Limited recourse for performance bonds and construction guarantees

FINANCING ASSETS

9

Operating Segments

10

Construction Services

11

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

~1,000PROJECTS DELIVEREDSINCE INCEPTION

$6 billion+BACKLOG

4CONTINENTS

64,000+REAL ESTATE AGENTSU.S. AND CANADA NETWORKS

300 million+SQ. FT.MANAGED REAL ESTATE

1

Other Business Services

Commercial and residential real estate services

Broad exposure for our unitholders to the commercial and residential real estate services sectors

• Offering a suite of services across the service value chain for real estate and other real assets including brokerage services, appraisals, relocation services and facilities management

• Global client base including government agencies and large corporations

• Providing superior service levels and operating platforms that are global in scale

$75 billion+VALUE OF OVER 700 TRANSACTIONS ADVISED ON SINCE 2003

1. Proforma for announced acquisition 12

~80% / ~20%GAS / OILWEIGHTING

100,000+BARRELS OF OIL EQUIVALENT PER DAY OF PRODUCTION

Energy

Oil and gas exploration & production and energy related services

Our energy businesses operate across the supply chain including exploration and production, and well and drilling services

• We operate in Western Canada with an orientation toward long-life, low-cost reserves located at shallow depths, and in Australia where we are focused on long-life, contracted natural gas reserves and high return offshore oil projects

• Our contract drilling and well servicing business operates in Western Canada where we have the infrastructure to meet the changing needs of our upstream customers and respond to technological developments in the drilling space

$3 billionACQUISITIONS DURING CURRENT COMMODITY DOWNTURN AND MARKET DISLOCATION

13

7COUNTRIES

40+LOCATIONS

Other Industrials

Industrial manufacturing and metals & mining

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

• Metals & mining operations are specialty, niche commodity producers that supply local and global markets

14

Odebrecht Ambiental

15

26 assetsSERVING 17 MILLION PEOPLE

Overview of the Transaction

16

Definitive agreement to acquire a 70% controlling stake in Odebrecht Ambiental’s (“OA”) core water, wastewater and industrial water treatment businesses1

• OA is Brazil’s largest private water distribution, collection and treatment company

$768 million2PURCHASE PRICE(US$400 MILLION COMMITMENTATTRIBUTABLE TO BBU UNITHOLDERS)

1. There can be no assurance that Brookfield will be able to successfully execute on this transaction2. Excludes an anticipated $125 million working capital contribution upon closing and potential R$350 million performance payment

• Water supply and sewage collection and treatment

• Public concessions and -PPP with state and municipal authorities

Overview of the Business

17

OA operates municipal water and sewage systems through long-term concessions and public-private partnerships (PPP)

• OA is the largest private water utility in Brazil with 22 concession contracts, serving 17 million people, more than the rest of the private sector combined

• Supported by a strong regulatory framework for water and wastewater concessions in Brazil

Water & Sewage

Industrial

Current Portfolio

Water & Sewage

Pipeline

Industrial

OPERATING UNITS

Water & Sewage Industrials & Other

• Outsourcing of industrial water utilities from companies in the steel and petrochemical sectors

• Small construction waste landfill and recycling unit

22 assets 4 assets

OA Operating Units

18

Water & Sewage

• Develops and operates water systems that source, treat and distribute water as well as sewage systems that collect and treat sewage prior to its return to the environment

• Operates 22 water and sewage concessions

– Mix of mature and ramp-up/development assets – all of which are contracted

• Customers including residential, commercial and public users

– Revenue is generated through direct billing and/or sponsored payments

– Revenue is inflation-linked and protected by a strong regulatory framework in Brazil

Water Treatment

Facility

Sewage Treatment

Facility

Pump

Station

Water & Sewage – Concession/PPP Scope

WaterDistribution

SewageCollection

OA Operating Units

19

Industrials & Other

• Designs, builds, owns and operates water treatment plants and related services for clients located adjacent to water-intensive industrial processes

– Serve clients in the steel and petrochemical sectors who are looking to outsource the operations and maintenance of their water utilities

– Cash flows are supported by take-or-pay contracts with inflation-linked pricing

• Relatively simple operations utilizing established technology resulting in predictable operating expenses and maintenance capital expenditures

• Landfill handling and recycling inert construction materials

– Revenue generated from waste disposal fees, as well as the sale of recycled aggregates, soil and scrap metal

Building our Business

20

• Opportunity to invest in a water services platform in an emerging market with scale and growth potential

• It is a great addition to our diversified portfolio of high quality businesses with solid fundamentals backed by our long-time expertise in the Brazilian market

• We believe it is well positioned to gain a growing share of the water and sewage improvements planned in Brazil over the next two decades

• Enabling us to generate strong and stable long-term returns for Brookfield Business Partners

Appendices

21

US$ MILLIONS

As of

Sep. 30, 2016 Dec. 31, 2015

Total assets by segmentConstruction Services $ 2,287 $ 2,125Other Business Services 1,578 1,429Energy 1,806 1,867Other Industrials 2,205 2,214Corporate and Other 238 −

Total assets $ 8,114 $ 7,635

Debt by segmentConstruction Services $ 7 $ 18Other Business Services 475 503Energy 777 808Other Industrials 563 745Corporate and Other 19 −

Borrowings $ 1,841 $ 2,074Net equity attributable to unitholdersby segment

Construction Services $ 865 $ 745Other Business Services 328 309Energy 311 315Other Industrials 410 418Corporate and Other 211 −

Equity attributable to unitholders1 $ 2,125 $ 1,787

Selected Segmented Statements of Operations andStatements of Financial Position Information

STATEMENTS OF FINANCIAL POSITION

US$ MILLIONS

Three months ended Sep. 30

Nine months ended Sep. 30

2016 2015 2016 2015

Revenue by segmentConstruction Services $ 1,120 $ 1,023 $ 3,127 $ 2,622Other Business Services 509 475 1,442 1,236Energy 68 80 197 256Other Industrials 346 313 962 553Corporate and Other − − − −

Revenue $ 2,043 $ 1,891 $ 5,728 $ 4,667

Direct operating costs by segment

Construction Services $ 1,089 $ 984 $ 3,027 $ 2,513Other Business Services 457 430 1,304 1,123Energy 43 38 130 146Other Industrials 300 264 861 441Corporate and Other − − − −

Direct operating costs $ 1,889 $ 1,716 $ 5,322 $ 4,223

Company FFO by segmentConstruction Services $ 16 $ 20 $ 63 $ 64Other Business Services 18 17 35 31Energy 12 16 47 28Other Industrials 11 5 8 18Corporate and Other (7) − (8) −

Company FFO1,2 $ 50 $ 58 $ 145 $ 141

1. Attributable to parent company prior to the Spin-off on June 20, 2016 and to limited partnership unitholders, general partnership unitholders, and redemption-exchange unitholders post Spin-off. Post Spin-off, equity is also attributable to preferred shareholders and Special LP unitholders.

2. 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 “Use of Non IFRS Measures” on page 1 of the Prospectus

STATEMENTS OF OPERATIONS

22

SENIOR MANAGEMENT TEAM

Cyrus Madon Chief Executive Officer Jon Haick Head of Services

Craig Laurie Chief Financial Officer Peter Gordon Head of Industrials

Joe Freedman Senior Managing Partner Jim Reid Head of Energy

Jaspreet Dehl Senior Vice President

Governance

• 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 based on a 20% increase in the unit price of BBU over the initial threshold of $25/unit

23

For investor-related information please call our Investor Line:

North America 1-866-989-0311Global 1-416-363-9491

Email: bbu.enquiries@brookfield.com

24

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 toparent company. When determining Company FFO, we include our proportionate share of Company FFO of equity accounted investment. For further information on Company FFO see “Use of Non IFRS Measures” on page 1 of the Prospectus.

• Equity attributable to unitholders is exclusive of the equity interest of others in our operating subsidiaries.

• Net Income attributable to unitholders is exclusive of the net income attributable to others in our operating subsidiaries.

• EBITDA is defined as net income before interest, taxes, depreciation and amortization

25