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Q2 2026 Earnings Conference Call JULY 30, 2026 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 1
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©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , including statements regarding expectations, plans, outlook, and future performance. These statements are based on current assumptions and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this presentation. For a discussion of factors that could cause such differences, please refer to our most recent Form 10-K and subsequent Form 10-Q filings. We undertake no obligation to update these statements to reflect events or circumstances after the date of this presentation. This presentation also includes certain non-GAAP financial measures. These measures should not be considered in isolation or as a substitute for GAAP results and may not be comparable to other similarly titled measures used by other companies. Reconciliations to the most directly c omparable GAAP measures are provided in the appendix to this presentation and our earnings release and earnings presentation as of July 30, 2026, which a re available on our website. Where forward looking non-GAAP measures are presented, reconciliations to the most directly comparable GAAP measures are not pro vided because doing so would require unreasonable effort. Brunswick does not provide forward -looking guidance for certain financial measures on a GAAP basis because it is unable to predict certain items contained in the GAAP measures without unreasonable efforts. These items may include restructuring, ex it and impairment costs, special tax items, acquisition-related costs, and certain other unusual adjustments. Stephen Weiland – Senior Vice President & Deputy CFO Brunswick Corporation, 26125 N. Riverwoods, Mettawa, IL 60045 Phone: +1-847-383-0867 Email: stephen.weiland@brunswick.com BRUNSWICK CORPORATION – EARNINGS RELEASE Forward-Looking Statements & Non-GAAP Financial Measures
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Business Overview — ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS ESERVED. 3 BRUNSWICK CORPORATION – EARNINGS RELEASE David Foulkes, CEO 01 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 3
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©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 4 Q2 2026 ✓ Sales and Adjusted1 EPS up over Q2 2025 and ahead of expectations ✓ Strong performance from market-leading products and balanced portfolio BRUNSWICK CORPORATION – EARNINGS RELEASE Adjusted1 EPS (+34% vs. Q2 2025) $1.56 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. Net Sales (+8% vs. Q2 2025) $1.6B Shares Repurchased YTD $35M ✓ Q2 sales increased for all segments vs. prior year ✓ Core performance well ahead of expectations; supplemented by partial IEEPA refund ✓ Excluding net IEEPA refunds, margin expanded in all segments except Propulsion, which was impacted by incremental YoY tariffs and product spend ✓ Pipelines extremely healthy; boat pipeline vs. Q2 2025: ✓ Global boat pipeline down ~1,800 units ✓ U.S. boat pipeline down ~1,300 units $278M Free Cash Flow1 250%+ Conversion
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BRUNSWICK CORPORATION – EARNINGS RELEASE External, Customer, and Consumer Conditions ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. Dealer & Customer Sentiment ✓ More cautious consumer, especially for value products ✓ Increased boating participation including record start to the year for FBC, even with elevated fuel prices ✓ Healthy and fresh inventory; solid pre-owned market supportive of positive trade-in equity ✓ Engine P&A benefiting from strong boating participation 5 ✓ Successful mitigation actions driving down net incremental tariff estimate to ~$35M, prior to very recent tariff changes ✓ Initial estimates for new Section 301 and Canadian tariffs ~$5M additional net negative incremental 2026 impact ✓ Recognized ~$30M of gross IEEPA refunds in Q2; $60 - $70M expected in total TariffsExternal Landscape ✓ Uncertainty from prolonged Iran conflict and inflation/affordability considerations driving negative YoY consumer sentiment ✓ Fuel prices not materially impacting boating participation ✓ Some potential for modest U.S. interest rate increases but likely outside main 2026 selling season ✓ Gaining OEM momentum with Navico Group products ✓ Mercury now supplies 17 of top 20 boat OEMs ✓ Wholesale forecast up full year YoY for Mercury and Brunswick boats ✓ Balanced wholesale / retail dynamic OEM Environment
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6 BRUNSWICK CORPORATION – EARNINGS RELEASE Q2 2026 – All Segments Grew YoY Sales for Fourth Consecutive Quarter ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. Engine P&A ✓ Solid boater participation drove highest Q2 sales since 2022 ✓ 100+ bps operating margin expansion even excluding net IEEPA refund benefit, driven by strong Products growth across all regions and retail channel share gains ✓ Continued distribution market gain fueling growth – Land ‘N’ Sea R12 distribution share increased 130 bps Propulsion ✓ R12 46% U.S. outboard share with strong wholesale share gains continuing YTD ✓ International market share gains with significant increases in Latin America and Asia ✓ Five new outboard engine programs on track ✓ Primed for growth in repower, government and commercial markets ✓ U.S. outboard pipeline down ~7% YoY and ~10% sequentially, setting up strong pull through for market growth
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7 BRUNSWICK CORPORATION – EARNINGS RELEASE Q2 2026 – All Segments Grew YoY Sales for Fourth Consecutive Quarter ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. ✓ SSI June YTD U.S. boat industry retail down ~4%, with Brunswick internal retail performing at similar levels ✓ Adjusted for rationalized value models, U.S. overall 1H retail roughly flat ✓ Relative strength in leading premium and core brands driving performance, reflecting intentional portfolio shift towards core and premium and contributing to 100+ bps operating margin expansion ✓ U.S. premium fiberglass and core 1H retail flat ✓ Freedom Boat Club achieved milestone 450 global network locations; 1H trips up a record 13% Boat1 1BOAT SEGMENT INCLUDES BUSINESS ACCELERATION. ✓ Fourth consecutive quarter of YoY sales growth from well-received new products, OEM wins, and strong retail channel sales ✓ 250+ bps operating margin expansion, even excluding net IEEPA refund benefit, reflecting multiple business improvement actions ✓ Signed Simrad AutoCaptain OEM application agreement with Saxdor with more advancing Navico Group
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Financial Overview – BRUNSWICK CORPORATION – EARNINGS RELEASE Ryan Gwillim, CFO 02 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 8
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Overview of Second Quarter 2026 Adjusted Results ✓ Sales and adjusted earnings1 growth vs. Q2 2025 – 4th consecutive quarter of sales growth in each segment ✓ Strong adjusted operating margin1 growth as operating performance and net IEEPA refund offset inflation, increased variable compensation, incremental tariffs and accelerated R&D ✓ Robust free cash flow1 generation, up on higher sales absent profit- sharing impacts BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 9 $1,447 $1,558 2025 2026 Net Sales ($M) Diluted EPS1 $1.16 $1.56 2025 2026 Operating Earnings1 ($M) Operating Margin1 % Free Cash Flow1 ($M) $126 $150 8.7% 9.6% 6.00 % 7.00 % 8.00 % 9.00 % 10.0 0% 11.0 0% 12.0 0% 13.0 0% 90 100 110 120 130 140 150 2025 2026 +8% +34% $288 $278 2025 2026 (4%) 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. ~$20M YoY incremental variable comp. profit- sharing reset
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BRUNSWICK CORPORATION – EARNINGS RELEASE $1.15 $1.56 Q2 2026 Guidance Midpoint - Apr Q2 Overperformance Net IEEPA Refunds Q2 2026 Q2 2026 Adjusted EPS Bridge1 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY'S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. Adjusted EPS significantly ahead of expectations due to strong business performance, with additional benefit from IEEPA refunds ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 10
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Overview of 2026 1H Adjusted Results ✓ Sales and adjusted margins and earnings1 growth vs. 1H 2025 ✓ Adjusted EPS up 32% vs. 1H 2025 ✓ Free cash flow1 reflects ~$100M impact of incremental variable compensation reinstatement BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 11 $2,669 $2,936 2025 2026 Net Sales ($M) Diluted EPS1 $1.72 $2.27 2025 2026 Operating Earnings1 ($M) Operating Margin1 % Free Cash Flow1 ($M) $198 $233 7.4% 7.9% 0.00 % 2.00 % 4.00 % 6.00 % 8.00 % 10.0 0% 12.0 0% 100 120 140 160 180 200 220 240 2025 2026 +10% +32% $244 $161 2025 2026 (34%) 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. ~$100M YoY incremental variable comp. reinstatement
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Propulsion Segment – Q2’26 Performance1 Adjusted Operating Margin of 11.2% Down 10 bps vs. Q2’25 Adjusted Operating Earnings of $72.1M Up 7% vs. Q2’25 $499.2 $35.9 $108.9 $644.0 Outboard Engines Sterndrive Engines Controls, Rigging, and Propellers Total Propulsion Q2’26 Net Sales % Change vs. Q2’25 (1)% Strong sales increase resulting from steady OEM orders and continued robust market share 7% 12 BRUNSWICK CORPORATION – EARNINGS RELEASE ($ in millions) ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. (GAAP Operating Margin of 11.1% up 10 bps vs. Q2’25) (GAAP Operating Earnings of $71.2M up 8% vs. Q2’25) 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. 16% 8%
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Engine P&A Segment – Q2’26 Performance1 $156.5 $211.4 $367.9 Products Distribution Total Engine P&A Q2’26 Net Sales % Change vs. Q2’25 Strong boating participation and distribution market share gains driving sales growth and margin expansion BRUNSWICK CORPORATION – EARNINGS RELEASE ($ in millions) ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 131SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. 16% 4% 9% Adjusted Operating Margin of 23.3% Up 200 bps vs. Q2’25 Adjusted Operating Earnings of $85.8M Up 19% vs. Q2’25 (GAAP Operating Margin of 23.3% up 210 bps vs. Q2’25) (GAAP Operating Earnings of $85.6M up 19% vs. Q2’25)
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Navico Group Segment – Q2’26 Performance1 New products and operational improvements continue to drive stronger financial performance BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 14 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. 2NM = NOT MEANINGFUL. ($ in millions) $99.4 $77.9 $38.5 $215.8 Electronics Power Systems Performance Components Total Navico Group Q2’26 Net Sales % Change vs. Q2’25 1% 7% 25% 7% Adjusted Operating Margin of 12.1% Up 680 bps vs. Q2’25 Adjusted Operating Earnings of $26.2M Up 143% vs. Q2’25 (GAAP Operating Margin of 6.1% up 990 bps vs. Q2’25) (GAAP Operating Earnings of $13.2M NM2 vs. Q2’25)
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Boat Segment – Q2’26 Performance1 $161.3 $119.1 $84.8 $63.6 $424.4 Aluminum Freshwater Recreational Fiberglass Saltwater Fishing Business Acceleration Total Boat Q2’26 Net Sales % Change vs. Q2’25 Sales and earnings growth driven by premium/core portfolio, mix, operational efficiencies, and Freedom Boat Club performance BRUNSWICK CORPORATION – EARNINGS RELEASE 2 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 15 7% (4)% (9)% 17% 5% Adjusted Operating Margin of 4.5% Up 120 bps vs. Q2’25 Adjusted Operating Earnings of $19.1M Up 45% vs. Q2’25 (GAAP Operating Margin of 3.6% up 90 bps vs. Q2’25) (GAAP Operating Earnings of $15.3M up 38% vs. Q2’25) 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. 2TOTAL BOAT NET SALES INCLUDE $4.4M OF BOAT ELIMINATIONS. ($ in millions)
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©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 16 BRUNSWICK CORPORATION – EARNINGS RELEASE 2026 Guidance 1 Revenue $5.7B to $5.8B $4.35 to $4.75 ~8.0% $400M+ $1.4B to $1.5B $1.20 to $1.40 Operating Margin EPS Free Cash Flow Q3 Revenue Q3 EPS 1EACH ON AN “AS ADJUSTED” BASIS WHERE APPLICABLE. Previously: $5.65B to $5.8B Previously: 7.5% to 8.0% Previously: $4.00 to $4.50 Previously: $350M+ BRUNSWICK CORPORATION – EARNINGS RELEASE Includes IEEPA refunds net impact
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BRUNSWICK CORPORATION – EARNINGS RELEASE 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY'S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 2026 Adjusted EPS Midpoint Bridge1 $4.10 $4.25 $4.55 FY 2026 Guidance Midpoint - Jan FY 2026 Guidance Midpoint - Apr Q2 Overperformance Net IEEPA Refunds Inflation / Tariff Changes FY 2026 Guidance Midpoint - Jul $4.55 EPS guidance midpoint, up 39% from 2025 ✓ Strong across-the-board sales and earnings performance ✓ Steady OEM orders across all businesses ✓ Outstanding P&A and Navico Group aftermarket performance ✓ Net IEEPA benefits from Q2 and anticipated in 2H ✓ Ability to offset anticipated 2H material inflation and increased tariffs as Section 301 replaces 122 Adjusted EPS guidance increasing: 17
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Wrap-Up BRUNSWICK CORPORATION – EARNINGS RELEASE David Foulkes, CEO 03 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 18
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15 Boating Industry Top Product Awards in 2026 A New Record for Brunswick ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 19 BRUNSWICK CORPORATION – EARNINGS RELEASE NAVAN T30 Lund Crossover XS Lowe LF Pontoon Harris Sunliner Boston Whaler 330 Outrage Fliteboard RACE Thunder Jet Rush OT Sea Ray SLX 360 Outboard Princecraft Vogue 25 WRL Princecraft Platinum 190 Simrad AutoCaptain Lowrance ActiveTarget 2 XL B&G Zeus SRX Chartplotter Mercury Keyless System Mercury Boost
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©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 20 BRUNSWICK CORPORATION – EARNINGS RELEASE Will surpass 100 enterprise awards for 5th Consecutive Year Company Record 86 Awards in 1H
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Brunswick 2026 Investor Day Mercury Marine Headquarters – Fond du Lac, Wisconsin August 11, 2026 9:00 (Arrival & Continental Breakfast) 10:00 – 3:30 Event Participants will experience a site tour, live Q&A with management and on-water experiences showcasing the latest Brunswick innovations Thank You and Q&A Scan to Register — or contact Pamela Eriksen at pamela.eriksen@brunswick.com ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 21 Final RSVP by Friday, July 31
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BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 22 Appendix
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BoatNavico GroupEngine P&APropulsion High Single-Digit Percent Mid Single-Digit Percent Mid Single-Digit Percent Previously: L-MSD% High Single-Digit Percent Previously: M-HSD% Up 100+ Basis Points Up 200+ Basis Points Previously: Up 100+ bps ~20%Up 100+ Basis Points Previously: Up 40+ bps ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 23 2026 Outlook – Segment Guide1 Revenue Growth Guide2 Operating Margin Guide 1EACH ON AN “AS ADJUSTED” BASIS WHERE APPLICABLE, VERSUS COMPARABLE PRIOR YEAR. 2SEGMENT NET SALES GUIDANCE FIGURES ARE EXCLUSIVE OF SEGMENT ELIMINATIONS. BRUNSWICK CORPORATION – EARNINGS RELEASE
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BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 24 Net Working Capital Generation Effective Tax Rate As Adjusted2Net Interest Expense Average Diluted Shares Outstanding Debt Retirement ~$50M~22%~$95M~65.5M$160M+ 2026 Outlook – Capital Strategy and Other Assumptions1 Net Incremental Tariff Impact Positive Currency ImpactDepreciation3Share RepurchasesCapital Expenditures ~$40M~$25M~$225M$50M+~$200M 1EACH ON AN “AS ADJUSTED” BASIS WHERE APPLICABLE. 2TAX PROVISION, AS ADJUSTED FOR SPECIAL TAX ITEMS. 3REFLECTS DEPRECIATION ONLY; EXCLUDES ~$75M OF TOTAL INTANGIBLE ASSET AMORTIZATION. ONLY PURCHASE ACCOUNTING AMORTIZATION IS ADJUSTED WITHIN THE NON-GAAP OPERATING EARNINGS RECONCILIATIONS FOUND IN THE APPENDIX. Previously: $15M - $25M Previously: $35M - $45M Previously: ~$160M
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Region Q2 2026 % of Sales % Change United States 66% 6% Europe 15% 8% Asia-Pacific 7% 8% Canada 6% 24% Rest-of-World 6% 10% Total International 34% 11% Consolidated 8% BRUNSWICK CORPORATION – EARNINGS RELEASE Net Sales – Q2 2026 Net Sales increased by $110.8 million, or 8% ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. SALES BY REGION 25 NET SALES (in millions) Segments Q2 2026 Q2 2025 % Change Propulsion $644.0 $598.2 8% Engine Parts & Accessories 367.9 337.8 9% Navico Group 215.8 202.3 7% Boat 424.4 405.6 5% Segment Eliminations (94.3) (96.9) 3% Total $1,557.8 $1,447.0 8%
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BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – Q2 2026 Operating Earnings and Diluted Earnings per Share ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 26 (in millions, except per share data) Q2 2026 Q2 2025 Q2 2026 Q2 2025 GAAP 129.4 103.3 1.66 0.90 Purchase accounting amortization 14.4 14.7 0.18 0.17 Restructuring, exit and impairment charges 7.0 8.0 0.11 0.09 Supplier bankruptcy expense 0.8 — 0.01 — Acquisition, integration, and IT related costs 0.2 — — — Gain on sale of assets (1.7) — (0.02) — Special tax items — — (0.38) — As Adjusted $150.1 $126.0 $1.56 $1.16 GAAP operating margin 8.3% 7.1% Adjusted operating margin 9.6% 8.7% Operating Earnings Diluted Earnings per Share
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(in millions) Propulsion Engine P&A Navico Group Boat Corporate Net sales $598.2 $337.8 $202.3 $405.6 — GAAP operating earnings (loss) 65.8 71.7 (7.6) 11.1 (37.7) Restructuring, exit and impairment charges 1.2 0.4 5.1 1.0 0.3 Purchase accounting amortization 0.3 — 13.3 1.1 — Adjusted operating earnings (loss) $67.3 $72.1 $10.8 $13.2 ($37.4) GAAP operating margin 11.0% 21.2% (3.8%) 2.7% Adjusted operating margin 11.3% 21.3% 5.3% 3.3% Q2 2025 (in millions) Propulsion Engine P&A Navico Group Boat Corporate Net sales $644.0 $367.9 $215.8 $424.4 — GAAP operating earnings (loss) 71.2 85.6 13.2 15.3 (55.9) Supplier bankruptcy expense 0.6 0.2 — — — Purchase accounting amortization 0.3 — 13.0 1.1 — Restructuring, exit and impairment charges — — — 4.2 $2.8 Acquisition, integration, and IT related costs — — — 0.2 — Gain on sale of assets — — — (1.7) — Adjusted operating earnings (loss) $72.1 $85.8 $26.2 $19.1 ($53.1) GAAP operating margin 11.1% 23.3% 6.1% 3.6% Adjusted operating margin 11.2% 23.3% 12.1% 4.5% Q2 2026 BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – Q2 2026 Operating Earnings By Segment ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 27
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BRUNSWICK CORPORATION – EARNINGS RELEASE Net Sales – YTD 2026 Net Sales increased by $267.1 million, or 10% ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. SALES BY REGION 28 NET SALES (in millions) Segments YTD 2026 YTD 2025 % Change Propulsion $1,215.3 $1,085.2 12% Engine Parts & Accessories 657.7 593.1 11% Navico Group 439.3 410.5 7% Boat 819.1 777.7 5% Segment Eliminations (195.5) (197.7) 1% Total $2,935.9 $2,668.8 10% Region YTD 2026 % of Sales % Change United States 66% 8% Europe 16% 16% Asia-Pacific 6% 8% Canada 6% 25% Rest-of-World 6% 13% Total International 34% 15% Consolidated 10%
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BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – YTD 2026 Operating Earnings and Diluted Earnings per Share ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 29 (in millions, except per share data) YTD 2026 YTD 2025 YTD 2026 YTD 2025 GAAP 179.7 159.6 1.97 1.21 Purchase accounting amortization 28.9 29.3 0.35 0.34 Restructuring, exit and impairment charges 11.8 9.1 0.18 0.10 Supplier bankruptcy expense 11.2 — 0.14 — Acquisition, integration, and IT related costs 0.6 0.1 0.01 — Loss on sale of assets 0.5 — 0.01 — Loss on early extinguishment of debt — — — 0.04 Special tax items — — (0.39) 0.03 As Adjusted $232.7 $198.1 $2.27 $1.72 GAAP operating margin 6.1% 6.0% Adjusted operating margin 7.9% 7.4% Operating Earnings Diluted Earnings per Share
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(in millions) Propulsion Engine P&A Navico Group Boat Corporate Net sales $1,085.2 $593.1 $410.5 $777.7 — GAAP operating earnings (loss) 111.9 110.8 (10.4) 18.8 (71.5) Restructuring, exit and impairment charges 1.2 0.4 5.9 1.3 0.3 Purchase accounting amortization 0.6 — 26.5 2.2 — Acquisition, integration, and IT related costs 0.1 — — — — Adjusted operating earnings (loss) $113.8 $111.2 $22.0 $22.3 ($71.2) GAAP operating margin 10.3% 18.7% (2.5%) 2.4% Adjusted operating margin 10.5% 18.7% 5.4% 2.9% YTD 2025 (in millions) Propulsion Engine P&A Navico Group Boat Corporate Net sales $1,215.3 $657.7 $439.3 $819.1 — GAAP operating earnings (loss) 105.6 131.2 18.3 21.8 ($97.2) Supplier bankruptcy expense 8.2 3.0 — — — Purchase accounting amortization 0.6 — 26.1 2.2 — Restructuring, exit and impairment charges — — 0.2 8.8 $2.8 Acquisition, integration, and IT related costs — — — 0.6 — Loss on sale of assets — — — 0.5 — Adjusted operating earnings (loss) $114.4 $134.2 $44.6 $33.9 ($94.4) GAAP operating margin 8.7% 19.9% 4.2% 2.7% Adjusted operating margin 9.4% 20.4% 10.2% 4.1% YTD 2026 BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – YTD 2026 Operating Earnings By Segment ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 30
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Tax Rate ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 31 2026 outlook for the adjusted effective tax rate at ~22% Q2 BRUNSWICK CORPORATION – EARNINGS RELEASE YTD YTD 2026 YTD 2025 Effective Tax Rate - GAAP 1 3.1% 22.8% Effective Tax Rate - As Adjusted 2 20.2% 21.7% Q2 2026 Q2 2025 Effective Tax Rate - GAAP 1 (1.7%) 20.8% Effective Tax Rate - As Adjusted 2 19.4% 21.5% (1) Effective tax rate - GAAP includes discrete impact of a tax law change that resulted in an income tax benefit of $24.6M (2) Tax provision, as adjusted, excludes ($24.7) million and $0.3 million of net provisions (benefits) for special tax items for QTD Q2 2026 and 2025, respectively and $(25.3) million and $2.1 million of net provision for special tax items for YTD Q2 2026 and 2025, respectively.
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(in millions) YTD 2026 YTD 2025 Net cash used for operating activities from continuing operations $251.5 $309.1 Net cash (used for) provided by: Capital expenditures (98.6) (82.6) Proceeds from sale of property, plant, equipment 9.2 6.8 Effect of exchange rate changes (1.4) 10.2 Free Cash Flow $160.7 $243.5 (in millions) Q2 2026 Q2 2025 Net cash provided by operating activities of continuing operations $315.2 $322.5 Net cash (used for) provided by: Capital expenditures (41.4) (44.9) Proceeds from sale of property, plant, equipment 4.5 3.4 Effect of exchange rate changes (0.8) 6.9 Free Cash Flow $277.5 $287.9 Free Cash Flow ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 32 Q2 BRUNSWICK CORPORATION – EARNINGS RELEASE YTD