Brookfield Business Partners (BBU) investor relations material

Executive summary

• Generated over $1.2 billion in proceeds from asset sales and distributions in the first half, including a $650 million agreement to sell Multiplex.

• Net income attributable to shareholders for Q2 2026 was $37 million ($0.18 per Class A Share), up from $26 million ($0.12 per share) year-over-year.

• Committed over $300 million to acquire two market-leading industrial and services businesses and closed a strategic investment in DeployCo, an OpenAI deployment company.

• Repurchased more than $320 million of shares since early 2025 at a significant discount to NAV, with $150 million allocated for further repurchases.

• Focused on acquiring high-quality, market-leading businesses, improving operations, and recycling capital for reinvestment.

Financial highlights

• Adjusted EBITDA for Q2 2026 was $587 million, compared to $591 million in Q2 2025; excluding acquisitions and dispositions, Adjusted EBITDA increased approximately 5% year-over-year.

• Adjusted FFO/EFO for the quarter was $289 million, up from $234 million, including a $40 million net gain from securities sales.

• Revenues for Q2 2026 were $6,497 million, down from $6,695 million in Q2 2025.

• Adjusted EBITDA margin for Q2 2026 was approximately 9%.

• Ended the quarter with $2.8 billion in pro forma liquidity at the corporate level.

Outlook and guidance

• Confident in meeting or exceeding the $2 billion capital recycling target over 24 months, with $1.2 billion already achieved.

• Expect to close the World Freight Company and Gregg Distributors acquisitions in the second half of 2026.

• Continued focus on buybacks as shares trade at a significant discount to intrinsic value.

• Ongoing investments in technology and operational improvements, including AI-enabled platforms, expected to drive future growth.

• Board declared a quarterly dividend of $0.0625 per Class A Share, payable September 29, 2026.