BRP : Investor Presentation Q1 FY24

QUARTERLY REVIEW

FIRST QUARTER ENDED APRIL 30, 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, 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, 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 and its 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 being active in repurchasing shares under the Company's normal course issuer bid, 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 April 30, 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 is based on the assumption that supply chain disruptions continue to improve; 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 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; 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

First Quarter Ended April 30, 2023

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JOSÉ BOISJOLI

PRESIDENT AND CHIEF EXECUTIVE OFFICER

QUARTERLY REVIEW

FIRST QUARTER ENDED APRIL 30, 2023

FY24 Q1 Financial Highlights

	Revenues			Diluted Earnings per Share		Normalized Diluted Earnings per Share[1]
CA$ millions			CA$			CA$
	+34%			+32%	+43%

$1,809	$2,429
FY23 Q1	FY24 Q1

$1.92

$1.46

FY23 Q1

FY24 Q1

	$2.38
$1.66
FY23 Q1	FY24 Q1

Highlights vs. Last Year

• Revenues increased 34% primarily driven by a higher volume of product sold, and favourable product mix and pricing
• Powersports gross profit margin improved 160bps to 27.3%
• Normalized EBITDA[1] was up 39% to $377M and normalized diluted earnings per share[1] increased 43% to $2.38
• Net income was up 28% to $155M and diluted earnings per share increased 32% to $1.92
• North American Powersports retail sales grew 3%, outpacing the industry

[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 strong results to start FY24

QUARTERLY REVIEW

First Quarter Ended April 30, 2023

4

FY24 Q1 Powersports Retail Update

Powersports Retail Growth by Region	North American Powersports Retail Growth by Product Line
FY24 Q1 retail sales in units compared to FY23 Q1	FY24 Q1 retail sales in units compared to FY23 Q1

		INDUSTRY[1]	BRP VS.
		INDUSTRY
NORTH AMERICA	3%	LOW-SINGLE
TOTAL	DIGIT %
NORTH AMERICA	8%	LOW-SINGLE
EXCL. SNOWMOBILES	DIGIT %
EMEA[2]	14%	MID-SINGLE
DIGIT %
LATIN AMERICA	25%	NOT AVAILABLE
ASIA-PACIFIC	15%	LOW-
TEEN %

		INDUSTRY	BRP VS.
		INDUSTRY
SIDE-BY-SIDE	LOW-SINGLE	LOW-SINGLE
VEHICLES	DIGIT %	DIGIT %
ALL-TERRAIN	LOW-	LOW-
VEHICLES	TEEN %	TEEN %
THREE-WHEELED	LOW-SINGLE	MID-SINGLE
VEHICLES	DIGIT %	DIGIT %
SNOWMOBILES	ABOUT	MID-SINGLE
20%	DIGIT %
PERSONAL	MID-	LOW-
WATERCRAFT	30%	TEEN %
PONTOON
SIGNIFICANTLY	NOT AVAILABLE

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

The strength and the breadth of our Powersports product portfolio continued to drive strong results

and allowed us to outperform the industry in all key markets

QUARTERLY REVIEW

First Quarter Ended April 30, 2023

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