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Q3 2026 Earnings Conference Call OCTOBER 29, 2026 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED.
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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 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, 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 Q3 2026 ✓ Increased Sales and Adjusted1 EPS growth well ahead of Q3 2025 and expectations ✓ Strong execution across all segments BRUNSWICK CORPORATION – EARNINGS RELEASE Adjusted1 EPS (+63% vs. Q3 2025) $1.58 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. Net Sales (+7% vs. Q3 2025) $1.5B Shares Repurchased YTD $75M ✓ Sales increased for all segments vs. prior year for the fifth consecutive quarter ✓ Adjusted operating margins expanded 230 bps, with all segments up 140 bps or more ✓ Continued strong cash generation, with FCF conversion of 136% ✓ Pipelines remain healthy to close out the year; boat pipeline vs. Q3 2025: ▪ Global boat pipeline down ~900 units ▪ U.S. boat pipeline down ~700 units $140M Free Cash Flow1 (+$29M vs. Q3 2025)
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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 ✓ Majority of boat dealers have more than 50% credit capacity available with healthy pipelines ✓ Dealers cautiously managing inventory ✓ Boating participation remains strong, driving Engine P&A growth and increased Freedom Boat Club member trips 5 ✓ Focused mitigation actions continue to reduce tariff exposure ✓ Maintained 2026 net incremental tariff estimate of ~$40M ✓ Recognized ~$3M of gross IEEPA refunds in Q3 and ~$33M YTD ✓ Expecting $60 - $70M total gross IEEPA refund recognition with majority of remainder expected in 2027 TariffsExternal Landscape ✓ Persistent geopolitical instability and inflationary concerns pressuring discretionary spending and consumer confidence ✓ U.S. Federal Funds Rate increased 25 bps ✓ Stock markets remain near all-time highs ✓ Fuel prices higher but not impacting boating participation ✓ OEMs managing pipeline, matching wholesale to retail ✓ Tariffs and input cost inflation driving boat OEM pricing actions ✓ Navico Group conquesting OEMs supported by new product introductions ✓ Balanced Boat Group wholesale / retail dynamics OEM Environment
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6 BRUNSWICK CORPORATION – EARNINGS RELEASE Q3 2026 – All Segments Grew YoY Sales and Operating Margin1 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. Engine P&A ✓ Sustained boater participation and resilient demand drove highest Q3 sales since 2020; U.S. P&A parts orders up 12% YTD ✓ Sales growth across both Products and Distribution and all regions with operating margin expansion of 190 bps on higher sales and richer mix of higher-margin products, aided by prior pricing actions ✓ Continued distribution market share gain fueling growth – Land ‘N’ Sea R12 distribution share increased 120 bps to ~43% ✓ Land ‘N’ Sea leading industry averages on every core performance measure: market share, margin, sales per employee, among others Propulsion ✓ Sustained R12 46% U.S. outboard retail share with strong wholesale share gains continuing; U.S. outboard orders up 11% YTD ✓ International share gains through expanded dealer, OEM, and retail partnerships and consistently strong boat show performance ✓ Cannes Boat Show: 67% overall share; 82% of larger outboard vessels ✓ Repower share gains, especially in high horsepower ✓ Sales growth across all regions with operating margin up 350 bps on higher production volume, sustained cost-reduction actions, and tariff management ✓ Five new outboard programs remain on track; three launching in 2027 ✓ U.S. outboard pipeline down ~3% YoY and ~2% sequentially 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY'S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES.
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7 BRUNSWICK CORPORATION – EARNINGS RELEASE Q3 2026 – All Segments Grew YoY Sales and Operating Margin1 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. ✓ Sales up 9% and operating margin up 160 bps driven by mix and pricing ✓ U.S. premium and core segments performing ahead of SSI YTD; global premium fiberglass retail flat for Q3 and YTD ✓ SSI September YTD U.S. boat industry retail down 4.1%, with Brunswick’s internal retail in line when adjusted for rationalized value models ✓ Positive start to fall boat show season, led by the NAVAN C38 launch ✓ Freedom Boat Club achieved 69% of North American boat club market share, up 4 pts; member trips up over 3% YTD Boat2 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY'S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. 2BOAT SEGMENT INCLUDES BUSINESS ACCELERATION ✓ Net sales increased 6% with contributions from all businesses: Electronics, Power Systems, and Performance Components, supported by well-received new products ✓ 140 bps operating margin expansion on higher sales, continued operational improvements, and prior pricing, offsetting material cost pressure ✓ Saxdor announced integration of Simrad AutoCaptain into its range; first independent and international OEM to adopt the system ✓ Delivered multiple OEM conquests across product lines Navico Group
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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 Bridge1 $3.27 $4.10 $4.25 $4.55 $4.65 FY 2025 Adj. EPS FY 2026 Guidance Midpoint - Jan FY 2026 Guidance Midpoint - Apr FY 2026 Guidance Midpoint - Jul Q3 Overperformance Anticipated Q4 Factors FY 2026 Guidance - Oct $4.65 EPS guidance, up 42% from 2025 ✓ ~13% increase in FY EPS guidance since initial Jan’26 outlook ✓ Growth in revenue and earnings across all segments ✓ Continued strength in recurring- revenue businesses ✓ Anticipated Q4 factors include: ▪ Increased material inflation ▪ Prudent pipeline management in propulsion and boats ▪ Uncertain IEEPA refund timing Raising Adjusted EPS guidance: 8
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Financial Overview – BRUNSWICK CORPORATION – EARNINGS RELEASE Ryan Gwillim, CFO 02 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 9
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Overview of Third Quarter 2026 Adjusted Results ✓ 5th consecutive quarter of sales growth across all segments ✓ Adjusted operating margin1 expansion across all segments driven by strong operating leverage ✓ Outstanding EPS and FCF performance BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 10 $1,360 $1,454 2025 2026 Net Sales ($M) Diluted EPS1 $0.97 $1.58 2025 2026 Operating Earnings1 ($M) Operating Margin1 % Free Cash Flow1 ($M) $106 $147 7.8% 10.1% 6.00 % 7.00 % 8.00 % 9.00 % 10.0 0% 11.0 0% 12.0 0% 13.0 0% 70 80 90 100 110 120 130 140 150 2025 2026 +7% +63% $111 $140 2025 2026 +26% 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES.
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Overview of 2026 Year-to-Date Adjusted Results ✓ Sales, adjusted operating margin1, and earnings1 growth vs. prior year ✓ YTD Adjusted EPS1 up 42% vs. 2025 ✓ Free cash flow1 growth absent impact of incremental variable compensation reinstatement BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 11 $4,029 $4,390 2025 2026 Net Sales ($M) Diluted EPS1 $2.69 $3.83 2025 2026 Operating Earnings1 ($M) Operating Margin1 % Free Cash Flow1 ($M) $305 $379 7.6% 8.6% 3.00 % 4.00 % 5.00 % 6.00 % 7.00 % 8.00 % 9.00 % 10.0 0% 11.0 0% 12.0 0% 100 150 200 250 300 350 2025 2026 +9% +42% $355 $301 2025 2026 (15%) 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 – Q3’26 Performance1 Adjusted Operating Margin of 12.0% Up 350 bps vs. Q3’25 Adjusted Operating Earnings of $68.6M Up 51% vs. Q3’25 $443.2 $28.4 $98.9 $570.5 Outboard Engines Sterndrive Engines Controls, Rigging, and Propellers Total Propulsion Q3’26 Net Sales % Change vs. Q3’25 (10%) Margin expansion fueled by leverage on increased sales and positive tariff comparisons offsetting strategic spending and inflationary pressures 7% 12 BRUNSWICK CORPORATION – EARNINGS RELEASE ($ in millions) ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. (GAAP Operating Margin of 8.9% up 50 bps vs. Q3’25) (GAAP Operating Earnings of $51.0M up 13% vs. Q3’25) 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. 9% 7%
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Engine P&A Segment – Q3’26 Performance1 $167.7 $213.2 $380.9 Products Distribution Total Engine P&A Q3’26 Net Sales % Change vs. Q3’25 Robust boating participation and continued distribution share gains drive highest Q3 sales since 2020 BRUNSWICK CORPORATION – EARNINGS RELEASE ($ 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. 5% 4% 5% Adjusted Operating Margin of 24.6% Up 190 bps vs. Q3’25 Adjusted Operating Earnings of $93.6M Up 14% vs. Q3’25 (GAAP Operating Margin of 24.6% up 190 bps vs. Q3’25) (GAAP Operating Earnings of $93.8M up 14% vs. Q3’25)
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Navico Group Segment – Q3’26 Performance1 Sales growth and operating margin expansion continue, consistent with strategic plan BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 14 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. 2NM = NOT MEANINGFUL. ($ in millions) $92.9 $72.3 $32.5 $197.7 Electronics Power Systems Performance Components Total Navico Group Q3’26 Net Sales % Change vs. Q3’25 2% 13% 4% 6% Adjusted Operating Margin of 6.1% Up 140 bps vs. Q3’25 Adjusted Operating Earnings of $12.0M Up 36% vs. Q3’25 (GAAP Operating Margin of -0.8% NM2 vs. Q3’25) (GAAP Operating Earnings of -$1.5M NM2 vs. Q3’25)
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Boat Segment – Q3’26 Performance1 $155.2 $89.1 $96.2 $62.2 $394.4 Aluminum Freshwater Recreational Fiberglass Saltwater Fishing Business Acceleration Total Boat Q3’26 Net Sales % Change vs. Q3’25 Sales and earnings growth driven by improved mix, operational efficiencies, and Freedom Boat Club stability BRUNSWICK CORPORATION – EARNINGS RELEASE 2 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 15 13% (14%) 30% 14% 9% Adjusted Operating Margin of 3.6% Up 160 bps vs. Q3’25 Adjusted Operating Earnings of $14.2M Up 100% vs. Q3’25 (GAAP Operating Margin of 0.6% up 150 bps vs. Q3’25) (GAAP Operating Earnings of $2.4M NM3 vs. Q3’25) 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. 2TOTAL BOAT NET SALES INCLUDE $8.3M OF BOAT ELIMINATIONS. 3NM = NOT MEANINGFUL. ($ 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 ~$4.65 ~8.0% $400M+ $160M+ $80M+ Operating Margin EPS Free Cash Flow Debt Retirement Share Repurchases 1EACH ON AN “AS ADJUSTED” BASIS WHERE APPLICABLE. Previously: $4.35 to $4.75 BRUNSWICK CORPORATION – EARNINGS RELEASE Previously: $50M+ $4.65 EPS guidance, up 42% from 2025
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Wrap-Up BRUNSWICK CORPORATION – EARNINGS RELEASE David Foulkes, CEO 03 ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 17
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18©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. C38 Next Never Rests: Multiple New Leading-Edge Products BRUNSWICK CORPORATION – EARNINGS RELEASE Tyee Summit Twins Platinum 220 DockHook Rev X 16-Inch Right-Hand Propeller ECS900 AI Agent & Apps
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©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 19 BRUNSWICK CORPORATION – EARNINGS RELEASE Surpassed 100 Enterprise Awards for Fifth Consecutive Year
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©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 20 BRUNSWICK CORPORATION – EARNINGS RELEASE Aine Denari 30 years of global business, technology and strategic leadership Brunswick Leader Since 2020 Proven Brunswick Operator As President of Navico Group and of Brunswick Boat Group, delivered strong financial performance, market share gains, operating improvements and new-product launches Technology-Led Growth Perspective Deep engineering and product-development expertise, applied as Brunswick CTO to advance differentiated marine innovation, including ACES and AI Enterprise-Ready Leader Broad P&L, commercial, operational, engineering and strategy experience across complex marine, automotive and industrial businesses; complemented by public company board service at Masco Corporation Strategy, capital allocation priorities and Investor Day targets remain unchanged Leadership continuity, with a proven record of disciplined execution, innovation, and value creation Aine Denari Appointed Chief Executive Officer and Board Director, Effective January 1, 2027
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Thank You Questions & Answers ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 21
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BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 22 Appendix
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Propulsion Engine P&A Navico Group Boat High Single-Digit Percent Mid Single-Digit Percent Mid Single-Digit Percent Mid to High Single-Digit Percent Up 100+ Basis Points ~20% Up 200+ Basis Points Up 100+ Basis Points ©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 Previously: HSD
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BRUNSWICK CORPORATION – EARNINGS RELEASE ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 24 Average Diluted Shares Outstanding Net Interest Expense Effective Tax Rate As Adjusted Net Working Capital Generation ~65.5M ~$90M ~20% ~$50M 2026 Outlook – Capital Strategy and Other Assumptions1 Capital Expenditures Depreciation2 Positive Currency Impact Net Incremental Tariff Impact ~$200M ~$225M ~$25M ~$40M 1EACH ON AN “AS ADJUSTED” BASIS WHERE APPLICABLE. 2REFLECTS 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: ~22%Previously: ~$95M
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Segments Q3 2026 Q3 2025 % Change Propulsion $570.5 $535.4 7% Engine Parts & Accessories 380.9 363.7 5% Navico Group 197.7 186.9 6% Boat 394.4 360.2 9% Segment Eliminations (89.6) (86.0) (4%) Total $1,453.9 $1,360.2 7% Region Q3 2026 % of Sales % Change United States 68% 7% Europe 12% 4% Asia-Pacific 7% 5% Canada 7% 11% Rest-of-World 6% 10% Total International 32% 7% Consolidated 7% BRUNSWICK CORPORATION – EARNINGS RELEASE Net Sales – Q3 2026 Net Sales increased by $93.7 million, or 7% ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. SALES BY REGION 25 NET SALES (in millions)
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BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – Q3 2026 Operating Earnings ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 26 (in millions) Q3 2026 Q3 2025 GAAP $104.0 ($242.2) Restructuring, exit and impairment charges 21.1 333.8 Purchase accounting amortization 14.8 14.8 Loss on sale of business/assets 7.4 — Acquisition, integration, and IT related costs 0.2 — Supplier bankruptcy expense (0.8) — As Adjusted $146.7 $106.4 GAAP operating margin 7.2% (17.8%) Adjusted operating margin 10.1% 7.8%
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(in millions, except per share data) Q3 2026 Q3 2025 GAAP net earnings (loss) from continuing operations $65.6 ($234.3) Income tax provision (benefit) 17.3 (32.0) Restructuring, exit and impairment charges 21.1 332.9 Purchase accounting amortization 14.8 14.8 Loss on sale of business/assets 7.4 — Acquisition, integration, and IT related costs 0.2 — Supplier bankruptcy expense (0.8) — Adjusted net earnings from continuing operations before taxes $125.6 $81.4 Adjusted income tax provision (1) 22.7 17.6 Adjusted net earnings from continuing operations $102.9 $63.8 Adjusted diluted earnings per share $1.58 $0.97 BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – Q3 2026 Adjusted Net Earnings from Continuing Operations and Adjusted Diluted Earnings per Share ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 27 (1) Adjusted income tax provision was calculated using a 18.1% and 21.6% rate for three months ended October 3, 2026, and September 27, 2025, respectively.
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(in millions) Propulsion E ngine P&A Navico Group Boat Net sales $535.4 $363.7 $186.9 $360.2 GAAP operating earnings (loss) 45.1 82.4 (328.9) (3.3) Restructuring, exit and impairment charges — — 324.3 9.3 Purchase accounting amortization 0.3 — 13.4 1.1 Adjusted operating earnings $45.4 $82.4 $8.8 $7.1 GAAP operating margin 8.4% 22.7% (176.0%) (0.9%) Adjusted operating margin 8.5% 22.7% 4.7% 2.0% Q3 2025 (in millions) Propulsion E ngine P&A Navico Group Boat Net sales $570.5 $380.9 $197.7 $394.4 GAAP operating earnings (loss) 51.0 93.8 (1.5) 2.4 Restructuring, exit and impairment charges 17.8 — 0.3 3.0 Purchase accounting amortization 0.4 — 13.2 1.2 Supplier bankruptcy expense (0.6) (0.2) — — Acquisition, integration, and IT related costs — — — 0.2 Loss on sale of business/assets — — — 7.4 Adjusted operating earnings $68.6 $93.6 $12.0 $14.2 GAAP operating margin 8.9% 24.6% (0.8%) 0.6% Adjusted operating margin 12.0% 24.6% 6.1% 3.6% Q3 2026 BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – Q3 2026 Operating Earnings By Segment ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 28
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Region YTD 2026 % of Sales % Change United States 66% 7% Europe 15% 12% Asia-Pacific 7% 7% Canada 6% 20% Rest-of-World 6% 12% Total International 34% 12% Consolidated 9% Segments YTD 2026 YTD 2025 % Change Propulsion $1,785.8 $1,620.6 10% Engine Parts & Accessories 1,038.6 956.8 9% Navico Group 637.0 597.4 7% Boat 1,213.5 1,137.9 7% Segment Eliminations (285.1) (283.7) (0%) Total $4,389.8 $4,029.0 9% BRUNSWICK CORPORATION – EARNINGS RELEASE Net Sales – YTD 2026 Net Sales increased by $360.8 million, or 9% ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. SALES BY REGION 29 NET SALES (in millions)
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BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – YTD 2026 Operating Earnings ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 30 (in millions) YTD 2026 YTD 2025 GAAP $283.7 ($82.6) Purchase accounting amortization 43.7 44.1 Restructuring, exit and impairment charges 32.9 342.9 Supplier bankruptcy expense 10.4 — Loss on sale of business/assets 7.9 — Acquisition, integration, and IT related costs 0.8 0.1 As Adjusted $379.4 $304.5 GAAP operating margin 6.5% (2.1%) Adjusted operating margin 8.6% 7.6%
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(in millions, except per share data) YTD 2026 YTD 2025 GAAP net earnings (loss) from continuing operations $194.8 ($154.5) Income tax provision (benefit) 21.4 (8.4) Restructuring, exit and impairment charges 32.9 342.0 Purchase accounting amortization 43.7 44.1 Supplier bankruptcy expense 10.4 — Loss/(gain) on sale of business/assets 7.9 (0.2) Acquisition, integration, and IT related costs 0.8 0.1 Loss on early extinguishment of debt — 3.7 Adjusted net earnings from continuing operations before taxes $311.9 $226.8 Adjusted income tax provision (1) 60.4 49.1 Adjusted net earnings from continuing operations $251.5 $177.7 Adjusted diluted earnings per share $3.83 $2.69 BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – YTD 2026 Adjusted Net Earnings from Continuing Operations and Adjusted Diluted Earnings per Share ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 31 (1) Adjusted income tax provision was calculated using a 19.4% and 21.7% rate for nine months ended October 3, 2026, and Sept ember 27, 2025, respectively.
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(in millions) Propulsion E ngine P&A Navico Group Boat Net sales $1,785.8 $1,038.6 $637.0 $1,213.5 GAAP operating earnings 156.6 225.0 16.8 24.2 Restructuring, exit and impairment charges 17.8 — 0.5 11.8 Supplier bankruptcy expense 7.6 2.8 — — Purchase accounting amortization 1.0 — 39.3 3.4 Acquisition, integration, and IT related costs — — — 0.8 Loss on sale of business/assets — — — 7.9 Adjusted operating earnings $183.0 $227.8 $56.6 $48.1 GAAP operating margin 8.8% 21.7% 2.6% 2.0% Adjusted operating margin 10.2% 21.9% 8.9% 4.0% YTD 2026 (in millions) Propulsion E ngine P&A Navico Group Boat Net sales $1,620.6 $956.8 $597.4 $1,137.9 GAAP operating earnings (loss) 157.0 193.2 (339.3) 15.5 Restructuring, exit and impairment charges 1.2 0.4 330.2 10.6 Purchase accounting amortization 0.9 — 39.9 3.3 Acquisition, integration, and IT related costs 0.1 — — — Adjusted operating earnings $159.2 $193.6 $30.8 $29.4 GAAP operating margin 9.7% 20.2% (56.8%) 1.4% Adjusted operating margin 9.8% 20.2% 5.2% 2.6% YTD 2025 BRUNSWICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – YTD 2026 Operating Earnings By Segment ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 32
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(1) Adjusted income tax ex pense represents the recalculated income tax provision (benefit) on Adjusted Net Earnings (loss) from continuing operations. YTD 2026 YTD 2025 Effective Tax Rate - GAAP 9.9% 5.2% Effective Tax Rate - As Adjusted 1 19.4% 21.7% Q3 2026 Q3 2025 Effective Tax Rate - GAAP 20.9% 12.0% Effective Tax Rate - As Adjusted 1 18.1% 21.6% Tax Rate ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 33 2026 outlook for the adjusted effective tax rate at ~20% Q3 BRUNSWICK CORPORATION – EARNINGS RELEASE YTD
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(in millions) Q3 2026 Q3 2025 Net cash provided by operating activities of continuing operations $187.3 $142.0 Net cash (used for) provided by: Capital expenditures (50.3) (33.9) Proceeds from sale of property, plant, equipment 4.6 2.0 Effect of exchange rate changes (1.2) 1.0 Free Cash Flow $140.4 $111.1 Free Cash Flow ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 34 Q3 BRUNSWICK CORPORATION – EARNINGS RELEASE YTD (in millions) YTD 2026 YTD 2025 Net cash provided by operating activities of continuing operations $438.8 $451.1 Net cash (used for) provided by: Capital expenditures (148.9) (116.5) Proceeds from sale of property, plant, equipment 13.8 8.8 Effect of exchange rate changes (2.6) 11.2 Free Cash Flow $301.1 $354.6