BRP : Investor Presentation Q3 FY23

QUARTERLY REVIEW

THIRD QUARTER ENDED OCTOBER 31, 2022

Forward-Looking Statements

Caution concerning forward-looking statements

Certain statements included in this presentation, including, but not limited to those relating to our Fiscal Year 2023 financial guidance (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 anticipated benefits associated with the integration of the activities of certain acquisitions, the management of the supply chain to limit possible future disruption on the operations, future retail purchase of our products, the Company's ability to convert new entrants into life-long customers, its intention to launch a new products, as well other statements about our current and future plans, prospects, expectations, anticipations, estimates and intentions, results, levels of activity, performance, objectives, targets, goals or achievements, priorities and strategies, financial position, market position, capabilities, competitive strengths, beliefs, the prospects and trends of the industries in which the Company operates, the expected growth in demand for products and services in the markets in which the Company competes, statements relating to the impact of the cyber security incident on its systems and operations, the impact that the cyber security incident will have on its systems and operations, Company's ability to mitigate financial consequences due to the cyber security incident, and its lack of impact on its financial year-end guidance, research and product development activities, including projected design, characteristics, capacity or performance of future products and their expected scheduled entry to market expected financial requirements and the availability of capital resources and liquidities or any other future events or developments and other statements 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 investors and others in understanding certain key elements of our current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of our business and anticipated operating environment. Investors and others 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 October 31, 2022 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.

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 to up high-single digits, that is based on the assumption that the supply chain disruptions do not worsen; market share that will remain constant or moderately increase; stable global and North American economic conditions and 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 from strong demand, supply shortages and high energy prices, and is expected to gradually decline as central banks gradually increase interest rates; 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; the cybersecurity incident and its consequences will be adequately contained and will have limited impact on the planned wholesale; 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 current economic conditions 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	2
Third Quarter Ended October 31, 2022

JOSÉ BOISJOLI

PRESIDENT AND CHIEF EXECUTIVE OFFICER

QUARTERLY REVIEW

THIRD QUARTER ENDED OCTOBER 31, 2022

FY23 Q3 Financial Highlights

	Revenues			Diluted Earnings per Share		Normalized Diluted Earnings per Share[1]
CA$ millions			CA$			CA$

+71%

	$2,709
$1,588
FY22 Q3	FY23 Q3

+15%

			$1.76
	$1.53
	FY22 Q3		FY23 Q3

	+146%
	$3.64
$1.48
FY22 Q3	FY23 Q3

Highlights vs. Last Year

• Delivered a record quarter in terms of revenues, Normalized EBITDA[1] and Normalized EPS[1]
• Revenues increased 71% primarily driven by a higher volume of product sold and favourable pricing
• Normalized EBITDA[1] was up 94% to $488M and normalized diluted earnings per share[1] increased 146% to $3.64
• Net income was up 11% to $142M and diluted earnings per share increased 15% to $1.76
• North American Powersports retail sales grew 43%, or 39% when excluding Sea-Doo Pontoons

[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

Raising our Normalized Diluted EPS[1] full-year guidance range from "$11.30 to $11.65"

to "$11.65 to $12.00", representing a growth of 17% to 21% from FY22

QUARTERLY REVIEW	4
Third Quarter Ended October 31, 2022

FY23 Q3 Powersports Retail Update

North American Powersports Retail Growth by Product Line

FY23 Q3 retail sales in units compared to FY22 Q3

		INDUSTRY	BRP VS.
		INDUSTRY
TOTAL POWERSPORTS	39%	MID-SINGLE
Excl. Sea-Doo Pontoons	DIGIT %
SIDE-BY-SIDE	HIGH-	MID-SINGLE
VEHICLES	40%	DIGIT %
ALL-TERRAIN	LOW-SINGLE	LOW-SINGLE
VEHICLES	DIGIT %	DIGIT %
THREE-WHEELED	LOW-	HIGH-
VEHICLES	50%	20%
PERSONAL	OVER	LOW
WATERCRAFT	100%	50%
SNOWMOBILES	MID-SINGLE	MID-
DIGIT %	20%

Powersports Retail Growth by Region

FY23 Q3 retail sales in units compared to FY22 Q3

		INDUSTRY	BRP VS.
		INDUSTRY
NORTH AMERICA	39%	MID-SINGLE
Excl. Sea-Doo Pontoons	DIGIT %
EMEA[1][2]	34%	LOW-SINGLE
DIGIT %
LATIN AMERICA	41%
NOT AVAILABLE
ASIA-PACIFIC	3%	LOW-
30%

[1]Industry retail growth for 3WV and PWC is based on the three-month period from July to September [2]Excluding Russia

Delivered strong results and outperformed the industry in all key markets

QUARTERLY REVIEW	5
Third Quarter Ended October 31, 2022