Brookfield Business Corporation Class A · TSX:BBUC
Brookfield Business Corporation Class A — Brookfield Business Partners — Investor Presentation (February 2026)
34 slides from Brookfield Business Corporation Class A's investor presentation, February 2026
Slide 1: Brookfield Business Partners Investor Presentation
Brookfield Business Partners Investor Presentation February 2026
Slide 2: Brookfield Business Partners
Brookfield Business Partners Flagship listed vehicle of Brookfield’s private equity group, focused on continuing a long- term track record of compounding strong returns for investors Investing alongside Brookfield’s private equity strategies, executing a consistent playbook developed and refined ove
Slide 3: Engine for compounding value
Engine for compounding value Acquire good businesses, execute our operational plans to improve performance and recycle capital to continue compounding long-term growth 1 2 3 4 Access to Brookfield’s Invest for value in Utilize in-house Recycle capital to highest returning market-leading operational
Slide 4: Large-scale global operations
Large-scale global operations Integrated team of investment and operating professionals $76B 25+ years ~150 ~57,000 Assets1 Investing Experience Investment Professionals1 Operating Employees1 Europe & Middle North East America $18B Key Sectors $38B Assets Assets Industrials South Business Services A
Slide 5: Focused on transforming vital businesses
Focused on transforming vital businesses Inherently strong compounders of value Market Mission Strong Substantial Durable cash leaders critical margins competitive flows advantages BROOKFIELD.COM 5
Slide 6: Acquiring for value
Acquiring for value Invested ~$10 billion since inception Cumulative Invested Capital1 $10B ~10x Average EBITDA multiple (TTM) at acquisition 2 $1B 2017 2021 Today Refer to endnotes at the end of this presentation. BROOKFIELD.COM 6
Slide 7: Leveraging Brookfield's value creation Playbook
Leveraging Brookfield’s value creation Playbook Repeatable and proven approach to operational value creation Value Investor Operational Improvement • Complexity • Organizational design • Contrarian • Commercial execution • Market dislocation • Strategic positioning • Out of favor • Digitalization BR
Slide 8: Driving meaningful long-term growth in value
Driving meaningful long-term growth in value Net asset value per unit has doubled over the last five years Net Asset Value Per Unit1,2 $54 2x $28 2020 2025 Refer to endnotes at the end of this presentation. BROOKFIELD.COM 8
Slide 9: Continuing a strong track record of realized returns
Continuing a strong track record of realized returns Realized ~$8 billion capital since inception of BBU Cumulative Realized Proceeds1 ~$8B 100% Aggregate realized value in line with NAV2 ~$0.2B 2017 2021 Today Targeting $2 billion of proceeds over the next two years Refer to endnotes at the end of
Slide 10: Recent business developments
Recent business developments Reported Adjusted EBITDA of $2.4 billion for the year ended December 31, 2025, representing a ~5% increase on a same-store1 basis compared to the prior year. Generated more than $2 billion of capital recycling proceeds over the past year and completed the sale of partial
Slide 11: Benefits of planned corporate structure simplification
Benefits of planned corporate structure simplification Enhanced trading liquidity and index demand while simplifying access for investors +50% 2x Improvement in consolidated Increase in trading liquidity1 index demand2 Expected completion in Q1 2026 Refer to endnotes at the end of this presentation.
Slide 12: Business Operations and Financial Position
Business Operations and Financial Position
Slide 13: Diversified operations
Diversified operations Industrials and services operations generating overall annual Adjusted EBITDA of $2.4 billion1 and Adjusted EBITDA margin of ~23%2 Business Services Infrastructure Services Industrials Essential services leveraging Leading providers of services and Operationally intensive oper
Slide 14: Market-leading operations
Market-leading operations Business Services Largest private residential mortgage Technology and software provider to insurer in Canada operating in an 70% of large-scale North American auto oligopoly dealers (>50% overall market share) Infrastructure Services One of three global providers of lottery
Slide 15: Strong financial position to support our growth initiatives
Strong financial position to support our growth initiatives $2.6B 5.7 years Pro Forma Corporate Weighted Average Maturity Liquidity of Debt Outstanding 100% 68% Non-Recourse Non-Recourse Borrowings at our Borrowings Fixed, Operations Hedged or Naturally Hedged Refer to endnotes at the end of this pr
Slide 16: Balanced capital allocation priorities
Balanced capital allocation priorities Opportunistically Reduce corporate Reinvest in our Strategically deploy repurchase units and borrowings operations capital into new shares acquisitions BROOKFIELD.COM 16
Slide 17: Sustainability principles
Sustainability principles Embedded throughout our operations to ensure the long-term viability of our business Supporting Decarbonization Supporting a Broad Talent Pool Our advanced energy storage Our dealer software and technology Mitigate the impact operation submitted their services operation dev
Slide 18: Appendix I: Select Transactions
Appendix I: Select Transactions BROOKFIELD.COM 18
Slide 19: Case study: Manufacturer of electric heat tracing systems
Case study: Manufacturer of electric heat tracing systems Leading provider of industrials electric heat management solutions Business Overview • Carve-out of a leading provider of essential electric heat management $1.7B $212M Purchase BBU Invested solutions globally benefiting from long-term secula
Slide 20: Case study: Digital payment processor
Case study: Digital payment processor Leading provider of technology-enabled payment solutions Business Overview ~$3B $224M • Combination of Network International with our existing payment Purchase BBU Invested processor, Magnati, created the leading payment processing business in Price Capital the
Slide 21: Case study: Nuclear technology services
Case study: Nuclear technology services Leading services provider to the global nuclear power fleet Investment Thesis $4B $405M • Essential provider of engineering, maintenance and repair services, and Purchase BBU Invested highly engineered fuel with a large installed base and long-term Price Capit
Slide 22: Appendix II: Select Financial Disclosures
Appendix II: Select Financial Disclosures BROOKFIELD.COM 22
Slide 23: Our operations
Our operations Economic ownership interest in our significant operations Economic Ownership Segment Description Select Operations Interest Residential Mortgage Insurer (“Sagen”) 41% Service businesses including residential mortgage insurance, dealer software and Dealer Software and Technology Servic
Slide 24: Acquisitions since Spin-Off
Acquisitions since Spin-Off Summary of acquisitions completed since our spin-off in June 2016 Segment Operations Acquisition Date Invested Capital1 Economic Ownership Interest 2 One Toronto Gaming January 2018 $6 million 14% Unidas July 2019 $209 million 35% Sagen December 2019 $855 million 41% Indo
Slide 25: Selected financial information
Selected financial information Statements of Operating Results by Segment Three Months Ended Year Ended December 31, December 31, US$ Millions, unaudited 2025 2024 2025 2024 Adjusted EBITDA by segment Business Services $ 217 $ 217 $ 823 $ 832 Infrastructure Services 119 160 436 606 Industrials 354 3
Slide 26: Selected financial information
Selected financial information Corporate Liquidity As at US$ Millions, unaudited December 31, 2025 December 31, 2024 Corporate cash and marketable securities $ 88 $ 91 Committed corporate credit facilities 2,020 1,200 Committed preferred equity securities 25 25 Total liquidity $ 2,133 $ 1,316 Statem
Slide 27: Partnership Capital
Partnership Capital As at Units and Shares Outstanding December 31, 2025 December 31, 2024 Limited partnership units 87,720,678 74,281,767 Redemption-exchange units 51,599,716 69,705,497 BBUC exchangeable shares 69,077,731 72,954,446 General partnership and special limited partnership units 8 8 Tota
Slide 28: Appendix III: Structure and Governance
Appendix III: Structure and Governance BROOKFIELD.COM 28
Slide 29: Governance and corporate structure
Governance and corporate structure Strong alignment of interests Brookfield 1 • Brookfield Corporation (BN) and Brookfield Wealth Solutions (BWS) hold a ~68%1 interest in Brookfield Business Partners ‒ Strong unitholder alignment, with an emphasis on total return through a base management fee and in
Slide 30: Brookfield Business Corporation (BBUC)
Brookfield Business Corporation (BBUC) Canadian corporation and paired entity with BBU which provides optionality to invest in our business BBUC BBU Each BBUC share is exchangeable Exchangeable N/A at the option of the holder for one BBU unit Declared and paid at the same time and Dividends and dist
Slide 31: Senior Management Team
Brookfield Business Partners Senior Management Team Anuj Ranjan Chief Executive Officer Jaspreet Dehl Chief Financial Officer Adrian Letts Head of Operations Cyrus Madon Executive Chairman Investor Relations Contact Alan Fleming Managing Director, Investor Relations North America 1-866-989-0311 Glob
Slide 32: Endnotes
Endnotes Note: Figures throughout this Investor Presentation are rounded for one quarter and one year prior to exit. represents forward-looking illustrative estimate pro forma combined presentation purposes. EBITDA on exit. Page 10 2. Actual results may vary materially and are subject to market Page
Slide 33: Definitions
Definitions • Adjusted EBITDA is a non-IFRS measure of operating performance presented as net income and equity accounted income at the partnership’s economic ownership interest in consolidated subsidiaries and equity accounted investments, respectively, excluding the impact of interest income (expe
Slide 34: Important Cautionary Notes
Important Cautionary Notes All amounts in this Investor Presentation are in U.S. dollars unless and general economic conditions and risks relating to the economy, and uncertainties, the reader should not place undue reliance on forward- otherwise specified. Unless otherwise indicated, the statistica
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