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Westinghouse Sale to Brookfield Complete

August 1, 2018

CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Aug 1, 2018--Westinghouse Electric Company, the global leader in nuclear technology, fuels and services, today announced the completion of its previously announced sale to Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN) together with institutional partners (collectively, “Brookfield”) and emergence from Chapter 11 as a reorganized company. Announced on Jan. 4, 2018, the transaction was closed and became effective today.

“The close of this transaction marks an exciting milestone for Westinghouse as we have successfully emerged from Chapter 11, and continue to navigate a significant transformation that positions us for long-term sustainable success. With the support of Brookfield, Westinghouse will continue to build on its legacy of leading the nuclear industry. Our focus is on strengthening the business, capitalizing on our global footprint and excelling in client service and innovation,” said Westinghouse President & CEO José Emeterio Gutiérrez.

Westinghouse Electric Company is the world’s pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world’s operating nuclear plants.

Brookfield Business Partners is a business services and industrials company focused on owning and operating high-quality businesses that benefit from barriers to entry and/or low production costs. Brookfield Business Partners is listed on the New York and Toronto stock exchanges. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.

Brookfield Business Partners is the flagship listed business services and industrials company of Brookfield Asset Management Inc. (NYSE:BAM) (TSX:BAM.A) (EURONEXT:BAMA), a leading global alternative asset manager with approximately $285 billion of assets under management, of which approximately $150 billion are in the U.S. For more information, please visit our website at  https://bbu.brookfield.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180801005918/en/

CONTACT: Westinghouse Electric Company

Sarah Cassella, +1 412-374-4744

Manager, External Communications

Email:cassels@westinghouse.com

www.westinghousenuclear.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA CANADA PENNSYLVANIA

INDUSTRY KEYWORD: ENERGY UTILITIES MANUFACTURING OTHER MANUFACTURING PROFESSIONAL SERVICES FINANCE OTHER PROFESSIONAL SERVICES NUCLEAR

SOURCE: Westinghouse Electric Company

Copyright Business Wire 2018.

PUB: 08/01/2018 04:15 PM/DISC: 08/01/2018 04:15 PM

http://www.businesswire.com/news/home/20180801005918/en

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