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    DOO   CA05577W2004

BRP INC.

(DOO)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-09-28 pm EDT
88.60 CAD   +4.00%
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09/26Brp executive appointments and creation of new low voltage & human assisted group
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BRP : ACQUIRES MAJORITY STAKE IN GERMAN-BASED PINION TO SPUR THE DEVELOPMENT OF NEW URBAN MOBILITY SOLUTIONS - Form 6-K

08/05/2022 | 07:36am EDT

BRP ACQUIRES MAJORITY STAKE IN GERMAN-BASED PINION TO

SPUR THE DEVELOPMENT OF NEW URBAN MOBILITY SOLUTIONS

Valcourt, Quebec, August 5, 2022 - BRP Inc. (TSX:DOO; NASDAQ:DOOO) is pleased to announce the acquisition of an 80% stake in Pinion GmbH, a pioneer in gearbox technology based in Denkendorf, Germany. Driven by a passion to shape sustainable mobility, Pinion's team of over 60 full-time employees designs, develops, assembles, and sells mechanical gearboxes for traditional and electric bicycles. The company's leading gearboxes are modeled after automobile transmission technology and offer unique cycling dynamics and unparalleled shifting performance.

"Beyond our existing powersports and marine products, we are expanding our addressable market and entering untapped categories such as urban mobility and services," said José Boisjoli, President and CEO of BRP. "This acquisition is strategic for us as it enables BRP to leverage Pinon's unique, state-of-the-art technology in order to spur the development of new electric human assisted products. We are pleased to welcome the Pinion team."

Pinion was founded in 2008 by Christoph Lermen and Michael Schmitz, two automotive engineers. Both Co-Founders and Managing Directors will remain shareholders of Pinion, as will Managing Director and shareholder Thomas Raith. All three leaders will continue to shape the company's path to success and play a key role in its strategic direction alongside Pinion's highly skilled employees. Offices will be maintained in Germany.

Christoph Lermen, Co-Founder and Managing Director, Pinion GmbH, added: "BRP's culture of relentless innovation and focus on R&D mirrors our own. We are proud to join such a respected company and look forward to breaking new ground with them. Together, we will continue providing class-leading Pinion gearbox technology to our 100+ valued bicycle manufacturers while at the same time expanding our offering and developing next-generation drive solutions."

This announcement follows BRP's acquisition of Great Wall Motor Austria GmbH, a leading EV R&D centre based in Kottingbrunn, Austria, specializing in e-drive systems and transmissions, solidifying BRP's expertise in electric powertrain technology for existing product lines and upcoming product introductions.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Certain information included in this release, including, but not limited to, the anticipated benefits associated with this acquisition, statements relating to the integration of Pinion GmbH in the Company's business, and the Company's plans for existing product lines and upcoming product introductions, the Company's business and strategic plans, and other statements that are not historical facts, are "forward-looking statements" within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were

Page 2

made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP's annual information form dated March 24, 2022.

About BRP

We are a global leader in the world of powersports products, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel portfolio to fully enhance the riding experience. With annual sales of CA$7.6 billion from over 120 countries, our global workforce includes close to 20,000 driven, resourceful people.

www.brp.com

@BRPNews

Ski-Doo, Lynx, Sea-Doo,Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

.-30-

For media enquiries:

Biliana Necheva

Media Relations

media@brp.com

For investor relations:

Philippe Deschênes

Investor Relations

Tel.: 450.532.6462

philippe.deschenes@brp.com

Disclaimer

BRP Inc. published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 11:35:10 UTC.


© Publicnow 2022
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Financials
Sales 2023 9 781 M 7 145 M 7 145 M
Net income 2023 920 M 672 M 672 M
Net Debt 2023 1 800 M 1 315 M 1 315 M
P/E ratio 2023 7,81x
Yield 2023 0,72%
Capitalization 6 975 M 5 095 M 5 095 M
EV / Sales 2023 0,90x
EV / Sales 2024 0,77x
Nbr of Employees 20 000
Free-Float 44,9%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 88,60 CAD
Average target price 133,20 CAD
Spread / Average Target 50,3%
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Managers and Directors
José Boisjoli Chairman, President & Chief Executive Officer
Sébastien Martel Chief Financial Officer
Thomas Uhr Chief Technology Officer
Edward M. Philip Independent Non-Executive Director
Estelle Métayer Independent Non-Executive Director
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