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BRP INC. FY27 Q2 Earnings Presentation September 3, 2026 Forward-Looking Statements
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Earnings Presentation Second Quarter Ended July 31, 2026 Forward-Looking Statements Caution concerning forward-looking statements Certain statements included in this presentation, including, but not limited to statements relating to the Company’s revised Fiscal Year 2027 guidance and related assumptions (including, without limitation: Revenues, Normalized EBITDA, Normalized Earnings per Share – Diluted, Net Income, Depreciation Expenses Adjusted, Net Financing Costs Adjusted, Effective Tax Rate, Weighted Average Number of Shares – Diluted and Capital Expenditures), the anticipated impact of tariffs, duties and other trade restrictions in Fiscal Year 2027 and the Company’s ability to continue to implement measures that mitigate such impact, its current and future plans, priorities and strategies, including its Mission 28 strategic plan to capture growth in the powersports industry, through a focus on innovation, product leadership and customer experience, the Company’s ambition to become North America’s leading off-road brand and OEM of choice and its commitment to release major off-road product announcements every six months for the next four years, other prospects, expectations, anticipations, estimates and intentions, results, levels of inventory, performance, objectives, targets, goals, achievements, its ability to align wholesale shipments with retail demand and to sustain its growth trajectory through expanded capacity, its financial position, including without limitation its expectations in terms of financial performance and approach to foreign exchange fluctuations and the anticipated impacts of the appointment of a new CFO, purchases of subordinate voting shares under its normal course issuer bid, attractive shareholder returns, market position, including expected market share gains in current units and with respect to recently introduced models, capabilities, competitive strengths and beliefs, the prospects, trends and macroeconomic environment of the industries and markets in which the Company operates, including sustained momentum in ORV and in utility segment and softer industry trends in PWC, the expected continued appeal for the Company’s products and services, including the Company’s ability to address key utility SSV growth opportunities through its expanded product offering and through additional production capacity, the ongoing commitment to invest in research and product development activities and push the boundaries of innovation, including the expectation of a regular flow of new features, technologies and products and development of market-shaping products, including projected design, characteristics, capacity or performance of future products and their scheduled introduction to the market, and the anticipated impact of such product introductions, including, without limitation, improvements in dealer sentiment, expected financial requirements and the availability of capital resources and liquidity, the anticipated benefits and impact associated with BRP Financial Services, its new branded retail financing program in the United States, ongoing geopolitical instability in the Middle East, including the impact of ongoing volatility in global oil and energy prices, potential supply chain disruptions, inflationary pressures and broader macroeconomic conditions, and any other future events or developments and other statements in this presentation 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, although not all forward-looking statements contain these identifying words. 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 under the heading “Risk Factors” in the Company’s management’s discussion and analysis for the year ended January 31, 2026 and in the Company’s other continuous disclosure filings, available on SEDAR+ at www.sedarplus.ca 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 undertakes no obligation to update or revise any forward-looking statements to reflect future events, changes in circumstances or changes in beliefs, except as required by applicable securities laws. If the Company updates 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 without limitation the following assumptions: industry conditions in both Seasonal and Year-Round Products consistent with current trends and continuously challenging macroeconomic and geopolitical environments; expected market share volatility; main currencies in which the Company operates will remain at near current levels; there will be no significant changes in tax laws or treaties applicable to the Company; the supply base will remain able to support product development and planned production rates on commercially acceptable terms in a timely manner; the absence of unusually adverse weather conditions, especially in peak seasons. The Company cautions that its assumptions may not materialize, and that the currently challenging macroeconomic and geopolitical environments in which it evolves, including specifically the uncertainty around the potential evolution of tariffs, duties and other trade restrictions (and any retaliatory measures), as well as the ongoing geopolitical instability in the Middle East and its potential negative impact on the global economy, may render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. These assumptions reflect certain U.S. tariffs currently in effect; however, they do not fully incorporate the potential expansion of U.S. tariffs, including tariffs on all imports from Canada and Mexico, and potential retaliatory tariffs. Given the fast-evolving situation and the high degree of uncertainty around the duration of a potential trade war, it is difficult to predict how the effects would flow through the economy. New and existing tariffs could significantly affect the outlooks for economic growth, consumer spending, inflation and the Canadian dollar. All amounts in this presentation are expressed in Canadian dollars, unless otherwise indicated. 2
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BUSINESS REVIEW DENIS LE VOT PRESIDENT AND CHIEF EXECUTIVE OFFICER
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Earnings Presentation Second Quarter Ended July 31, 2026 FY27 Q2 Financial Highlights DILUTED EARNINGS PER SHARE NORMALIZED DILUTED EARNINGS PER SHARE[1] CA$ millions REVENUES $1,888 $2,237 FY26 Q2 FY27 Q2 +18% CA$ $0.79 ($1.88) FY26 Q2 FY27 Q2 NM CA$ $0.92 ($0.18) FY26 Q2 FY27 Q2 NM 4 Delivered results ahead of expectations for Q2 and raising our full year Normalized Diluted EPS[1] guidance range from “$3.00 to $3.50” to “$4.00 to $4.50” [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 [2]Free cash flow is defined as net cash flow from operating activities minus capital expenditures. Continuing operations only. ◼ REVENUES: Up 18%, primarily driven by higher volume in ORV and favourable product mix in SSV, partially offset by lower shipments of PWC compared to last year ◼ PROFITABILITY: Normalized EBITDA[1] of $139M and normalized diluted loss per share[1] of $0.18, both down from last year primarily due to the impact of tariffs ◼ FREE CASH FLOW[2]: Strong generation, up 96% to $193M ◼ IFRS MEASURES: Net loss of $137M and diluted loss per share of $1.88 ◼ NETWORK INVENTORY: North American network inventory up 2%, well positioned with healthy levels and product mix ◼ RETAIL: North American retail up 1% and gained market share in ORV with retail up 5% HIGHLIGHTS VS. LAST YEAR
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Earnings Presentation Second Quarter Ended July 31, 2026 FY27 Q2 North American Network Inventory Update 5 Maintained a healthy network inventory, both in terms of levels and product mix FY20 Q2 FY25 Q2 FY26 Q2 FY27 Q2 INVENTORY POSITION BRIDGEINVENTORY POSITION OVERVIEW DEALER INVENTORY HISTORICAL EVOLUTION North America Powersports, Units FY26 Q2 ORV 3WV 2W SNOWMOBILES PWC PONTOONS FY27 Q2 DEALER INVENTORY EVOLUTION VS LAST YEAR North America Powersports, Units ▲2% (Pre Covid) +4% -19% +2%
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Earnings Presentation Second Quarter Ended July 31, 2026 6 Industry trends continue to stabilize globally FY27 Q2 Market Trends Update RETAIL TRENDS BY REGIONFY27 Q2 KEY TRENDS NORTH AMERICA ▪ Industry modestly up, driven by continued strength in ORV, supported by ongoing utility segment momentum, partially offset by softer PWC trends ▪ BRP outperformed the industry through market share gains in ORV and PWC, while delivering its strongest-ever SSV quarter in Canada EMEA ▪ Market conditions continued to improve across ORV and PWC, particularly in Eastern Europe and Scandinavia ▪ BRP delivered solid performance in PWC which was partially offset by softer 3WV trends LATIN AMERICA ▪ Slight decline in the off-season for PWC in Brazil and generally softer SSV demand in Mexico ASIA-PACIFIC ▪ ORV industry trends continued to stabilize across key markets ▪ BRP outperformed the industry, supported by market share gains in SSV FY27 Q2 VS FY26 Q2 INDUSTRY NORTH AMERICA 1% LOW-SINGLE DIGIT % CANADA UNITED STATES EMEA LATIN AMERICA ASIA-PACIFIC 2% 8% NOT AVAILABLE LOW-SINGLE DIGIT % 1% LOW-SINGLE DIGIT % 2% LOW-SINGLE DIGIT % ABOUT 10% 4%
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Earnings Presentation Second Quarter Ended July 31, 2026 7 Can-Am SSV Season 2026 retail sales growth ▲ HIGH-SINGLE DIGIT % Can-Am Utility SSV Season 2026 retail sales growth ▲ LOW-TEEN % Can-Am SSV Season 2026 market share gain in current units ▲ OVER 3pp Can-Am SSV Season 2026: Solid market share gains primarily driven by the success of the new Can-Am Defender HD11 2026 CAN-AM DEFENDER HD11 LIMITED Note: All figures refer to North America
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Earnings Presentation Second Quarter Ended July 31, 2026 8 2026 CAN-AM OUTLANDER XT-P 1000R Can-Am ATV Season 2026: Solid market share gains in the higher-profitability segments of the industry Note: All figures refer to North America Can-Am ATV Season 2026 retail sales growth ▲ LOW-SINGLE DIGIT % Can-Am ATV Season 2026 market share gain in current units ▲ OVER 4pp
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Earnings Presentation Second Quarter Ended July 31, 2026 9 Sea-Doo PWC FY27 Q2: Retail in line with the industry supported by strong market share gains in current units Sea-Doo PWC Q2 retail sales growth ▼ Low-Single Digit % Sea-Doo PWC Q2 market share gain in current units ▲ Over 6pp Sea-Doo PWC Q2 retail sales growth ▼ LOW-SINGLE DIGIT % Sea-Doo PWC Q2 market share gain in current units ▲ OVER 6pp 2026 SEA-DOO GTX, GTI, SPARK, FISH PRO AND RXP-X Note: All figures refer to North America
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Earnings Presentation Second Quarter Ended July 31, 2026 FY27 Q2 North America Retail Update 10 Positive Q2 results driven by ORV NORTH AMERICAN RETAIL PERFORMANCE BY PRODUCT LINEFY27 Q2 HIGHLIGHTS OFF-ROAD VEHICLES ▪ SSV industry continued to be fueled by the Utility segment, notably by the fast-growing CAB category ▪ Continued to gain market share in ORV driven by the success of models introduced last year 3WV ▪ Can-Am Q2 retail performance in line with expectations PWC AND PONTOONS ▪ PWC: Industry generally softer than expected so far this year ▪ Sea-Doo Q2 retail in line with the industry, but with strong market share gains of 6pp in current units ▪ Pontoons: Continued soft trends for the marine industry ▪ Sea-Doo pontoons performed generally in line with industry trends SNOWMOBILES ▪ Strong growth on low volume during the off-season portion of the year TOTAL POWERSPORTS FY27 Q2 VS FY26 Q2 INDUSTRY 1% MARKET SHARE LOW-SINGLE DIGIT % SIDE-BY-SIDE VEHICLES ALL-TERRAIN VEHICLES THREE-WHEEL VEHICLES SNOWMOBILES PERSONAL WATERCRAFT PONTOONS MID-SINGLE DIGIT % HIGH- 20% LOW-SINGLE DIGIT % MID-SINGLE DIGIT % MID- 20% MID-SINGLE DIGIT % LOW-SINGLE DIGIT % LOW-SINGLE DIGIT % HIGH-SINGLE DIGIT % LOW-SINGLE DIGIT % NOT AVAILABLE OFF SEASON
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Earnings Presentation Second Quarter Ended July 31, 2026 11 Club BRP 2027: Reinforcing Product Leadership across the Portfolio Delivered significant innovation focused on enhancing the riding experience while delivering exceptional value to customers MY27 SEA-DOO RXP-X SENNA 350 MY27 CAN-AM OUTLANDER X MR MAX MY27 SSV X PACKAGE EXPANSION MY27 SEA-DOO SPARK X MY27 CAN-AM RYKER MY27 OUTLANDER PRO LINEUP UPGRADES MY27 SPORT LINEUP UPGRADES Powered by the industry's most powerful production engine and offered in an exclusive limited -edition RXP-X Senna New MAX configuration for the Outlander X mr models, designed specifically for the mud enthusiast The X package, optimized for trail riding performance, is now available on the Maverick Trail and Sport models Including a new more powerful engine, the Intelligent Debris Free (IDF) system, and multiple enhanced premium features The most significant evolution of the platform to date, introducing major chassis, powertrain, technology and styling enhancements Featuring additional equipment such as hand guards, fender flares, footwell protectors and a trailer hitch mount Featuring better protection, improved braking, and suspension enhancements
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Earnings Presentation Second Quarter Ended July 31, 2026 12 Expanded Defender offering strengthens our competitive position in a fast-growing premium segment Club BRP 2027 Highlights: Strengthening our Defender lineup in one of the fastest-growing and highest-value segments of the SSV market WIP S20 S21 S22 S23 S24 S25 S26 NORTH AMERICAN SSV UTILITY CAB UNIT INDUSTRY CAB UNITS REPRESENTED CLOSE TO 50% OF THE UTILITY SSV INDUSTRY IN S26 >4X EXPANDING OUR DEFENDER PORTFOLIO WITH THE NEW MID-HP DEFENDER HD10 AND A COMPLETE LINEUP OF DEFENDER XU MODELS TO ADDRESS KEY UTILITY CAB GROWTH OPPORTUNITIES
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Earnings Presentation Second Quarter Ended July 31, 2026 13 Committed to the Future of ORV Innovation: To release major off-road product announcements every six months for the next four years Focused on becoming the #1 brand in ORV in North America and the OEM of choice for dealers and riders CAN-AM DEFENDER PRERUNNER CAN-AM MAVERICK R XRAY CAN-AM DEFENDER PRERUNNER CONCEPT VEHICLE CAN-AM MAVERICK R XRAY CONCEPT VEHICLE
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FINANCIAL REVIEW SÉBASTIEN MARTEL CHIEF FINANCIAL OFFICER
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Earnings Presentation Second Quarter Ended July 31, 2026 FY27 Q2 Financial Review: Revenues Overview 15 FINANCIAL OVERVIEW CA$ millions Q2 REVENUES OVERVIEW Q2 YEAR-TO-DATE CA$ millions FY27 FY26 Change FY27 FY26 Change Total Revenues $2,236.8 $1,888.2 +18% $4,628.6 $3,735.1 +24% Gross Profit 262.5 397.7 (34%) 824.1 792.5 +4% As a % of revenues 11.7% 21.1% 17.8% 21.2% Operating Income / (Loss) (50.0) 90.4 (155%) 175.5 184.3 (5%) Normalized EBITDA[1] 138.8 213.2 (35%) 473.2 414.0 +14% As a % of revenues 6.2% 11.3% 10.2% 11.1% Net Income / (Loss) (136.8) 57.1 (340%) (9.5) 218.1 (104%) EPS – Diluted ($1.88) $0.79 (338%) ($0.12) $2.98 (104%) Normalized Net Income / (Loss)[1] (13.0) 66.9 (119%) 121.5 101.5 +20% Normalized EPS – Diluted[1] ($0.18) $0.92 (120%) $1.66 $1.39 +19% Free Cash Flow[2] 193.1 98.6 +96% 560.4 301.9 +86% CAPEX 69.2 79.4 (13%) 127.4 133.9 (5%) Share Repurchases 150.8 - NM 195.3 - NM Dividend Payment 18.2 15.8 +15% 36.4 31.4 +16% YEAR-ROUND PRODUCTS SEASONAL PRODUCTS PA&A, OEM ENGINES AND OTHERS $1,114 $1,485 FY26 Q2 FY27 Q2 +33% $470 $428 FY26 Q2 FY27 Q2 -9% $305 $324 FY26 Q2 FY27 Q2 +6% KEY DRIVERS + + + Volume of ORV Product mix in SSV Sales programs efficiency Fx impact + PWC volume (timing with Q1) Lower sales programs in Snowmobiles Fx Impact + + PA&A volume Pricing Product mix in OEM Engines Fx Impact KEY DRIVERS KEY DRIVERS [1]For a reconciliation of net income to Normalized Net Income, Normalized EBITDA and Normalized Earnings per Share – Diluted, see the reconciliation table in Appendix [2]Free cash flow is defined as net cash flow from operating activities minus capital expenditures. Continuing operations only. + + +
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Earnings Presentation Second Quarter Ended July 31, 2026 FY27 Q2 Financial Review: Profitability Overview 16 FINANCIAL OVERVIEW CA$ millions Q2 PROFITABILITY OVERVIEW GROSS PROFIT MARGIN 21.1% 11.7% 15.0% FY26 Q2 FY27 Q2 -610bps NORMALIZED EBITDA[1] $213 $139 FY26 Q2 FY27 Q2 -35% Tariffs Impact of a supplier financial restructuring Higher volumes Sales programs efficiency, mainly in ORV KEY DRIVERS Gross Profit Investments in OPEX KEY DRIVERS [1]For a reconciliation of net income to Normalized Net Income, Normalized EBITDA and Normalized Earnings per Share – Diluted, see the reconciliation table in Appendix [2]Free cash flow is defined as net cash flow from operating activities minus capital expenditures. Continuing operations only. Excluding the impact of a supplier financial restructuring + + Q2 YEAR-TO-DATE CA$ millions FY27 FY26 Change FY27 FY26 Change Total Revenues $2,236.8 $1,888.2 +18% $4,628.6 $3,735.1 +24% Gross Profit 262.5 397.7 (34%) 824.1 792.5 +4% As a % of revenues 11.7% 21.1% 17.8% 21.2% Operating Income / (Loss) (50.0) 90.4 (155%) 175.5 184.3 (5%) Normalized EBITDA[1] 138.8 213.2 (35%) 473.2 414.0 +14% As a % of revenues 6.2% 11.3% 10.2% 11.1% Net Income / (Loss) (136.8) 57.1 (340%) (9.5) 218.1 (104%) EPS – Diluted ($1.88) $0.79 (338%) ($0.12) $2.98 (104%) Normalized Net Income / (Loss)[1] (13.0) 66.9 (119%) 121.5 101.5 +20% Normalized EPS – Diluted[1] ($0.18) $0.92 (120%) $1.66 $1.39 +19% Free Cash Flow[2] 193.1 98.6 +96% 560.4 301.9 +86% CAPEX 69.2 79.4 (13%) 127.4 133.9 (5%) Share Repurchases 150.8 - NM 195.3 - NM Dividend Payment 18.2 15.8 +15% 36.4 31.4 +16%
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Earnings Presentation Second Quarter Ended July 31, 2026 FY27 Revised Full-Year Guidance - as at September 3, 2026 17 Other assumptions for FY27 Guidance: ◼ Depreciation expense Adjusted: ~$450M ◼ Net Financing Costs Adjusted: ~$180M ◼ Effective Tax Rate[1][2]: ~26.5% (Previously ~25%) ◼ Weighted average number of shares – diluted: ~73M shares (Previously 74M shares) ◼ Capital Expenditures: ~$390M [1]See the “Non-IFRS Measures” at the end of this presentation [2]Effective tax rate based on Normalized Earnings before Normalized Income Tax Note: Please see Forward-Looking Statements at the beginning of this presentation for a summary of key assumptions and importantrisk factors underlying the FY27 guidance Note: All numbers are in $CA millions, except for the effective tax rate and per share figures REVENUES YEAR-ROUND PRODUCTS NET INCOME FY26 ACTUAL SEASONAL PRODUCTS PA&A, OEM ENGINES AND OTHERS TOTAL REVENUES NORMALIZED EBITDA[1] NORMALIZED EPS – DILUTED[1] $4,802.4M $2,291.5M $1,348.8M $8,442.7M $1,103.4M $5.21 $340.4M REVISED FY27 GUIDANCE AS AT SEPTEMBER 3, 2026 $5,475M to $5,600M $2,375M to $2,450M $1,375M to $1,425M $9,225M to $9,475M $1,025M to $1,075M $4.00 to $4.50 $160M to $195M PREVIOUS FY27 GUIDANCE AS AT MAY 28, 2026 $5,325M to $5,450M $2,425M to $2,500M $1,375M to $1,425M $9,125M to $9,375M $925M to $975M $3.00 to $3.50 $215M to $250M
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CLOSING REMARKS DENIS LE VOT PRESIDENT AND CHIEF EXECUTIVE OFFICER
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Earnings Presentation Second Quarter Ended July 31, 2026 Closing Remarks 19 Focused on navigating near-term headwinds while positioning the business to sustain long-term shareholder value Strong momentum heading into H2: H1 financial results exceeded expectations , supported by continued retail strength led by ORV and higher-margin segments Executing with discipline: Focused on delivering our plan while managing through a dynamic environment Advancing our M28 strategy: Focusing on innovation, product leadership and customer experience to strengthen our position on the path to becoming the #1 ORV brand in North America
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Q&A PERIOD FY27 Q2 Earnings Presentation September 3, 2026
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APPENDIX FY27 Q2 Earnings Presentation September 3, 2026
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Earnings Presentation Second Quarter Ended July 31, 2026 FY27 Q2 Net Income Bridge 22 CA$ millions NORMALIZED NET INCOME[1] BRIDGE 57 (137) +77 +28 (261) +12 (50) FY26 Q2 Volume and Mix Net Pricing Production Costs and Operating Expenses Net Financing Costs and Income Tax Expense Foreign Exchange FY27 Q2 [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 CA$ millions NET INCOME BRIDGE 67 (13) +77 +28 (196) +9(6) FY26 Q2 Volume and Mix Net Pricing Production Costs and Operating Expenses Net Financing Costs and Income Tax Expense Foreign Exchange FY27 Q2
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Earnings Presentation Second Quarter Ended July 31, 2026 [1]Transaction costs and depreciation of intangible assets related to business combinations. [2]Other elements include transaction costs associated with the sale of the Marine businesses and restructuring costs. [3]Income tax adjustment is related to the income tax on Normalized elements subject to tax and for which income tax has been re cognized and to the translation from Mexican operations. [4]See “Non-IFRS Measures” section. [5]Other elements include transaction costs associated with the sale of the Marine businesses and restructuring costs. [6]Income tax adjustment is related to the income tax on Normalized elements subject to tax and for which income tax has been re cognized and to the adjustment related to the impact of foreign currency translation from Mexican operations [7]See “Non-IFRS Measures” section. Transaction costs and depreciation of intangible assets related to business combinations. Incremental fair value recorded as a result of a special long -term incentive program. Includes the impact of accelerated vesting of executive management stock options. Includes the costs associated to a supplier financial restructuring. Other elements include transaction costs associated with the sale of the Marine businesses and restructuring costs . Income tax adjustment is related to the income tax on Normalized elements subject to tax and for which income tax has been re cognized and to the adjustment related to the impact of foreign currency translation from Mexican operations See “Non-IFRS Measures” section. 23 Reconciliation Tables: Normalized Metrics *Results presented above reflect continuing operations only, see the “Forward -Looking Statements” section for more details 3-MONTH PERIODS ENDED 6-MONTH PERIODS ENDED CA$ millions Jul. 31, 2026 Jul. 31, 2025 Jul. 31, 2026 Jul. 31, 2025 Net Income / (Loss) ($136.8) $57.1 ($9.5) $218.1 Normalized Elements: Foreign Exchange Loss / (Gain) on Long-term Debt and Lease Liabilities 73.7 7.0 82.7 (121.6) Costs Related to Business Combinations[1] 1.0 3.3 2.1 6.4 Special Long-term Incentive Program[2] - 4.4 - 4.4 Executive Management Transition Cost[3] - 2.5 - 2.5 Supplier Financial Settlement[4] 74.8 - 74.8 - Other Elements[5] - 1.0 - 1.9 Income Tax Adjustment[6][7] (25.7) (8.4) (28.6) (10.2) Normalized Net Income / (Loss)[7] (13.0) 66.9 121.5 101.5 Normalized Income Tax Expense / (Recovery)[7] (5.3) (12.4) 45.1 3.4 Financing Costs Adjusted[7] 50.3 50.5 94.9 97.1 Financing Income (5.4) (3.3) (8.5) (4.6) Depreciation Expense Adjusted[7] 112.2 111.5 220.2 216.6 Normalized EBITDA[7] $138.8 $213.2 $473.2 $414.0 Weighted Average Number of Shares – Diluted 72,756,365 73,616,757 73,529,444 73,569,234 Normalized Earnings per Share – Diluted[7] ($0.18) $0.92 $1.66 $1.39
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Earnings Presentation Second Quarter Ended July 31, 2026 24 Reconciliation Tables: Free Cash Flow 3-MONTH PERIODS ENDED 6-MONTH PERIODS ENDED CA$ millions Jul. 31, 2026 Jul. 31, 2025 Jul. 31, 2026 Jul. 31, 2025 Net Cash Flows Generated from Operating Activities $261.3 $117.3 $686.8 $373.1 Additions to Property, Plant and Equipment (59.4) (70.4) (105.5) (115.5) Additions to Intangible Assets (9.8) (9.0) (21.9) (18.4) Free Cash Flow[1] $192.1 $37.9 $559.4 $239.2 Free Cash Flow from Continuing Operations[1] $193.1 $98.6 $560.4 $301.9 Free Cash Flow used in Discontinued Operations[1] ($1.0) ($60.7) ($1.0) ($62.7) [1] During Fiscal 2025, the Company received insurance payments in relation to the cybersecurity incident that occurred in Fiscal 2023.ompany recorded restructuring costs, which includes severance packages to employees as part of workforce reduction, contract exit costs and supplier claims related to restructur ing activities. See “Non-IFRS Measures” section.
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Earnings Presentation Second Quarter Ended July 31, 2026 25 Additional Information Non-IFRS Measures Normalized EBITDA is defined as net income before financing costs, financing income, income tax expense (recovery), depreciation expense and normalized elements. Normalized EBITDA margin is defined as the Normalized EBITDA divided by revenues. Normalized Net Income is defined as net income before normalized elements adjusted to reflect the tax effect on these elements. Normalized income tax expense is defined as income tax expense adjusted to reflect the tax effect on normalized elements and to normalize specific tax elements. Normalized effective tax rate is based on normalized net income before normalized income tax expense. Normalized earnings per share – diluted is calculated by dividing the normalized net income by the weighted average number of shares – diluted. Additional details for these non-IFRS can be found in section “Non-IFRS Measures and Reconciliation Tables” of the Company's MD&A for the quarter ended July 31, 2026, which is posted on BRP’s website at www.BRP.com, and filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. Product Lines Seasons ▪ SSV: July to June ▪ ATV: July to June ▪ 3WV: November to October ▪ Snowmobile: April to March ▪ PWC: October to September ▪ Boat: October to September
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THANK YOU