BRP : Investor Presentation Q4 FY23

QUARTERLY REVIEW

FOURTH QUARTER ENDED JANUARY 31, 2023

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 2024 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 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 consumer interest for the Company's products and its ability to maintain a sustainable growth, 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 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 January 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 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, 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

Fourth Quarter Ended January 31, 2023

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JOSÉ BOISJOLI

PRESIDENT AND CHIEF EXECUTIVE OFFICER

QUARTERLY REVIEW

FOURTH QUARTER ENDED JANUARY 31, 2023

FY23 Highlights

DELIVERED RECORD FINANCIAL RESULTS

Strongest revenues, normalized EBITDA[1] and Normalized EPS - Diluted[1] performance in BRP's history

GAINED SIGNIFICANT MARKET SHARE IN THE POWERSPORTS INDUSTRY

Gained over 5pp of market share in the North American Powersports industry in FY23

SOLID EXECUTION AS WE MANAGED THROUGH TURBULENCE

Demonstrated agility across the organization allowing us to continue outpacing the industry in a challenging environment caused by the supply chain pressures and the cyber incident

CONTINUED STRONG RETURN OF CAPITAL TO OUR SHAREHOLDERS

Increased our dividend by 23% and deployed over $300M towards share repurchases

POSITIONED THE BUSINESS FOR CONTINUED SUCCESS

Invested significantly in R&D and CAPEX for growth projects, completed 3 acquisitions, introduced several new market-shaping products and completed production capacity upgrades

[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 an exceptional year despite significant turbulence

QUARTERLY REVIEW

Fourth Quarter Ended January 31, 2023

4

FY23 Financial Highlights

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

+31%

	$10,033
$7,648
FY22	FY23

+15%

			$10.67
	$9.31
	FY22		FY23

+21%

$9.92	$12.05
FY22	FY23

Highlights vs. Last Year

• Revenues increased 31% primarily driven by a higher volume of product sold and favourable pricing
• Normalized EBITDA[1] was up 17% to $1,706M and normalized diluted earnings per share[1] increased 22% to $12.05
• Net income was up 9% to $865M and diluted earnings per share increased 15% to $10.67
• FY23 North American Powersports retail sales grew 6%, or 5% 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

Record financial results in FY23 with strong Normalized Diluted EPS[1] growth of 21%

QUARTERLY REVIEW

Fourth Quarter Ended January 31, 2023

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