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 following: 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 oper ...

Financial Performance Highlights - Net income attributable to Unitholders was $26 million, or $0.12 per limited partnership unit, compared to a net loss of $20 million, or a loss of $0.10 per unit, in the prior period[19] - Adjusted EBITDA increased to $591 million from $524 million in the prior period, which included $71 million of tax benefits from advanced energy storage operation[19] - Adjusted EFO was $234 million, or $1.11 per unit, compared to $289 million, or $1.33 per unit, in the prior period[19] - Corporate liquidity stood at $2,333 million, including $2,230 million of availability on credit facilities, and pro forma liquidity is approximately $2,900 million[19] Strategic Initiatives and Transactions - The company invested $56 million to repurchase 2.2 million units and shares at an average price of approximately $25 per unit and share[22] - Brookfield Business Partners completed the acquisition of Antylia Scientific for approximately $1.3 billion, with BBU investing $168 million for a 26% interest[22] - The company completed the sale of a partial interest in three businesses for units of a new evergreen fund with an initial redemption value of approximately $690 million, representing an 8.6% discount to NAV[22] - The company entered into a partnership to privatize First National Financial Corporation for $2.7 billion, with BBU's share expected to be approximately $145 million for an 11% interest[22] Balance Sheet and Liquidity - Total assets were $75,335 million as of June 30, 2025[23] - Non-recourse borrowings in subsidiaries of the partnership were $42,493 million[23] - Corporate borrowings were $1,116 million[23] - Total equity was $15,321 million[23]

Financial Performance Highlights - Net income attributable to Unitholders for the three months ended March 31, 2025, was $80 million ($0.38 per limited partnership unit), compared to $48 million ($0.23 per limited partnership unit) in the prior period[12, 19] - Adjusted EBITDA for the three months ended March 31, 2025, was $591 million, compared to $544 million in the prior period[12, 19] - Adjusted EFO for the three months ended March 31, 2025, was $345 million ($1.60 per unit), compared to $331 million ($1.53 per unit) in the prior period[19] - Corporate liquidity as of March 31, 2025, was $2,414 million, including $59 million of cash and liquid securities and $2,330 million of availability on credit facilities[19, 24] Segment Performance - Business Services Adjusted EBITDA was $213 million, compared to $205 million in the prior period[13, 45] - Infrastructure Services Adjusted EBITDA was $104 million, compared to $143 million in the prior period, which included contribution from the shuttle tanker operation in offshore oil services that was sold in January 2025[13, 49] - Industrials Adjusted EBITDA was $304 million, compared to $228 million in the prior period, with the advanced energy storage operation contributing $233 million compared to $159 million in the prior period[13, 54] Balance Sheet and Liquidity - Total assets as of March 31, 2025, were $75,887 million, compared to $75,474 million as of December 31, 2024[23] - Non-recourse borrowings in subsidiaries were $42,316 million as of March 31, 2025, compared to $36,720 million as of December 31, 2024[23] - Corporate borrowings were $1,017 million as of March 31, 2025, compared to $2,142 million as of December 31, 2024[23] Capital Structure - Partnership units outstanding were 141.0 million as of March 31, 2025, compared to 144.0 million as of December 31, 2024[30] - BBUC exchangeable shares outstanding were 71.7 million as of March 31, 2025, compared to 73.0 million as of December 31, 2024[30] - The company invested approximately $140 million to repurchase 5.9 million of its units and shares at an average price of approximately $24 per unit and share during the quarter and subsequent to quarter end[22]