BRP : Investor Presentation Q2 FY24

QUARTERLY REVIEW

SECOND QUARTER ENDED JULY 31, 2023

Forward-Looking Statements

Caution concerning forward-looking statements

Certain statements included in this presentation, including, but not limited to those relating to the Company's Fiscal Year 2024 financial guidance and where it stands with respect to it, and related assumptions of the Company (including revenues, Normalized EBITDA, Effective Tax Rate, Normalized earnings per share, net income, depreciation expense, net financing costs adjusted, weighted average of the number of shares diluted and capital expenditures), the Company's current and future plans, including statements relating to its 5-year plan referred to as M25, the Company's progress on its journey toward electrification, and the revised guidance for Marine and related decisions including the postponement of the Mexico capacity investment, prospects, expectations, anticipations, estimates and intentions, results, levels of activity, performance, objectives, targets, goals, achievements, priorities and strategies, financial position, market position, including its ability to gain additional market shares and grow its addressable market, capabilities, competitive strengths and beliefs, the prospects, trends and expected demand for products and services of the industries and markets in which the Company operates, the expected continued influx of new entrants, the expected strong interest and demand for the Company's products, including growing interest for premium models with high-end margins and the Company's ability to maintain a sustainable growth, the level of bookings, the anticipated impact of improved product availability, research and product development activities, including the expectation of regular flow of new product introductions, their projected design, characteristics, capacity or performance of future products and their expected scheduled entry to market and the anticipated impact of such product introductions, expected financial requirements and the availability of capital resources and liquidities and expectation to continue returning capital to shareholders including through dividend and share buybacks, or any other future events or developments and other statements in this Annual Information Form that are not historical facts constitute forward-looking statements within the meaning of applicable securities laws.

The words "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, are intended to identify forward-looking statements.

Forward-looking statements are presented for the purpose of assisting readers in understanding certain key elements of the Company's current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Investors and others should not place undue reliance on forward- looking statements made in this presentation. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on a number of assumptions, both general and specific, as further described below.

Many factors could cause the Company's actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in section "Risk Factors" of the Company's management's discussion and analysis (MD&A) for the quarter ended on July 31, 2023 and in the Company's other continuous disclosure filings (available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov).

The forward-looking statements contained in this presentation are made as of the date of this presentation and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities regulations. In the event that the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters or any other forward-looking statement.

The forward-looking statements contained in this presentation are made as of the date of this presentation and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities regulations. In the event that the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters or any other forward-looking statement.

Key assumptions

The Company made a number of economic, market and operational assumptions in preparing and making certain forward-looking statements contained in this presentation, including the following: reasonable industry growth ranging from slightly down up to slightly up, that assumes an improved supply chain environment compared to last year; market share will remain constant or moderately increase; stable global and North American economic conditions, a limited impact from the military hostilities in Ukraine and the ongoing global health crisis; main currencies in which the Company operates will remain at near current levels; inflation is expected to remain elevated, in-line with central banks projections; there will be no significant changes in tax laws or free trade arrangements or treaties applicable to the Company; the Company's margins, will remain at current levels; the supply base will remain able to support product development and planned production rates on commercially acceptable terms in a timely manner; no new trade barriers will be imposed amongst jurisdictions in which the Company carries operations; the absence of unusually adverse weather conditions, especially in peak seasons. BRP cautions that its assumptions may not materialize, and that global economic and political conditions, combined with one or more of the risks and uncertainties discussed under the heading "Risk Factors" of its Annual Information Form, may render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty.

All amounts in this presentation are expressed in Canadian dollars, unless otherwise indicated.

QUARTERLY REVIEW

Second Quarter Ended July 31, 2023

2

JOSÉ BOISJOLI

PRESIDENT AND CHIEF EXECUTIVE OFFICER

QUARTERLY REVIEW

SECOND QUARTER ENDED JULY 31, 2023

FY24 Q2 Financial Highlights

Revenues

CA$ millions

+14%

$2,439	$2,778
FY23 Q2	FY24 Q2

Diluted Earnings per Share

CA$

+45%

	$4.26
$2.94
FY23 Q2	FY24 Q2

Normalized Diluted Earnings per Share[1]

CA$

+9%

$2.94	$3.21
FY23 Q2	FY24 Q2

Highlights vs. Last Year

• Revenues increased 14% primarily driven by a higher volume of products sold and favourable pricing
• Powersports gross profit margin improved 120bps to 26.5%
• Normalized EBITDA[1] was up 13% to $473M and normalized diluted earnings per share[1] increased 9% to $3.21
• Net income was up 43% to $339M and diluted earnings per share increased 45% to $4.26
• North American Powersports retail sales grew 41%, outpacing the industry which was up mid-teen %

[1]For a reconciliation of net income to Normalized Net Income, Normalized EBITDA and Normalized Earnings per Share - Diluted, see the reconciliation table in appendix

Delivered record financial results for a second quarter with Diluted Normalized EPS[1] growth of 9%

QUARTERLY REVIEW

Second Quarter Ended July 31, 2023

4

FY24 Q2 Powersports Retail Update

North American Powersports Retail Growth by Product Line

FY24 Q2 retail sales in units compared to FY23 Q2

			INDUSTRY	BRP VS.
			INDUSTRY
TOTAL POWERSPORTS	41%		MID-
	TEEN %
SIDE-BY-SIDE	HIGH-		ABOUT
VEHICLES	20%	10%
ALL-TERRAIN	MID-		LOW-SINGLE
VEHICLES	30%		DIGIT %
THREE-WHEELED	HIGH-SINGLE		HIGH-SINGLE
VEHICLES	DIGIT %		DIGIT %
PERSONAL	ABOUT		LOW-
WATERCRAFT	60%	40%
PONTOON	OVER
	NOT AVAILABLE
200%
SNOWMOBILES	OVER
	OFF SEASON
100%

Powersports Retail Growth by Region

FY24 Q2 retail sales in units compared to FY23 Q2

		INDUSTRY[1]	BRP VS.
		INDUSTRY
	41%	TEEN %
NORTH AMERICA		MID-
EMEA[2]	23%	MID-SINGLE
DIGIT %
LATIN AMERICA	36%
NOT AVAILABLE
ASIA-PACIFIC	33%	HIGH-SINGLE
DIGIT %

[1]Industry for international market is based on company's estimate [2]Excluding Russia

Another solid quarter as we continued to outperform the industry in all key markets

QUARTERLY REVIEW

Second Quarter Ended July 31, 2023

5