Here are 1-3 brief analogies to describe BRP:

• Yamaha for outdoor recreational vehicles.
• The Harley-Davidson of snowmobiles, personal watercraft, and off-road vehicles.

• Snowmobiles: BRP manufactures and sells snowmobiles under the Ski-Doo and Lynx brands, designed for winter recreational riding.
• Personal Watercraft: The company produces Sea-Doo personal watercraft, offering recreational vehicles for use on water.
• All-Terrain and Side-by-Side Vehicles: BRP offers Can-Am Off-Road vehicles, including ATVs and side-by-sides, designed for off-road recreation and utility.
• 3-Wheel Vehicles: Can-Am On-Road provides 3-wheel motorcycles like the Spyder and Ryker, offering a unique on-road riding experience.
• Boats: The company's boat portfolio includes Sea-Doo Switch pontoon boats, as well as Manitou pontoon boats and Alumacraft fishing boats, catering to various water activities.
• Engines: BRP designs and produces Rotax engines, which power many of its own recreational products and are also supplied to other manufacturers globally.

BRP Inc. (symbol: DOOO) primarily sells its recreational products through a global network of independent dealerships. While these dealerships are BRP's direct customers, no single or small group of dealer companies constitutes a 'major customer' in the traditional sense, nor are they typically publicly traded companies. Therefore, BRP's major customers can be best described by the categories of individual end-users who purchase and enjoy their products.

BRP serves a diverse range of individual customers, which can be broadly categorized as follows:

• Outdoor Recreation and Powersports Enthusiasts: This category includes individuals who seek adventure, speed, and thrill in the outdoors. They purchase products like Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercraft, and Can-Am off-road vehicles (ATVs and side-by-sides) for trail riding, sport, and exploration.
• Leisure Boaters and Watercraft Users: These customers prioritize relaxation, family time, and recreational activities on the water. They are typically buyers of Alumacraft, Manitou, and Quintrex boats (for fishing, cruising, and general recreation), as well as Sea-Doo personal watercraft for leisure use.
• On-Road Enthusiasts and Lifestyle Riders: This segment comprises individuals who enjoy a unique riding experience on the open road. They purchase Can-Am On-Road vehicles (Spyder and Ryker roadsters) for touring, leisure rides, and to express a distinct personal lifestyle.

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José Boisjoli, Chair of the Board of Directors, President and Chief Executive Officer

Mr. Boisjoli has been the President and Chief Executive Officer of BRP since December 2003, when BRP became an independent company, and has served as Chair of the Board of Directors since 2019. He initially joined Bombardier Recreational Products Inc. in 1989 and held various leadership roles, including President of the Snowmobile and Watercraft division in 1998 and the ATV division in 2001. Prior to his tenure at BRP, he spent eight years in the pharmaceutical and road safety equipment industries. Mr. Boisjoli led BRP's initial public offering (IPO) in 2013. He also served on the board of directors of McCain Foods Group Inc. from January 2018 to February 2022.

Sébastien Martel, Chief Financial Officer

Mr. Martel has served as BRP's Chief Financial Officer since 2014. He joined the company in 2004 as Director, Financial Information, and steadily progressed through roles such as Vice-President, Finance and Control (2007) and Senior Vice-President, Strategy and Business Development (2011). Mr. Martel played a key role in piloting BRP's first public offering on the Toronto Stock Exchange in 2013 and oversaw the company's NASDAQ listing in 2018. Before joining BRP, he worked as a senior manager in audit at major international accounting firms, including Arthur Andersen LLP and Deloitte & Touche LLP. He currently serves on the board of directors of TFI International.

Josée Perreault, Chief Marketing Officer

Ms. Perreault was appointed Chief Marketing Officer in 2024. Her previous roles at BRP include Executive Vice-President, Omnichannel (2022) and Senior Vice-President, Omnichannel Experience & Apparel (2021). She initially joined BRP in 2016 as Senior Vice-President, Can-Am On-Road.

Patrick Dussault, Executive Vice-President, Global Manufacturing Operations, Powersports and Marine

Mr. Dussault was named Executive Vice-President, Global Manufacturing Operations, Powersports and Marine in 2024. In this role, he added Marine manufacturing to his existing oversight of Powersports manufacturing operations in Canada, Mexico, and Finland, a responsibility he took on in 2022. Mr. Dussault joined BRP in 1996 as Manager, Industrial Engineering, Internal Fabrication, and has over 25 years of experience with the company.

Bernard Guy, Executive Vice-President, Global Product Strategy, Powersports and Marine

Mr. Guy has a career spanning over 35 years at BRP, holding various management positions across engineering, procurement, strategy, product planning, sales, and marketing. He was named Executive Vice-President, Global Product Strategy in 2022, a position he continues to hold. From 2023 until January 2024, he also served as the President of BRP's Marine Group.

• The emergence of dedicated electric recreational vehicle manufacturers, such as Taiga Motors, which are focused solely on developing and selling electric snowmobiles and personal watercraft. These companies directly challenge BRP's core Ski-Doo and Sea-Doo brands by offering an all-electric value proposition, potentially capturing early adopters and setting new industry benchmarks for electric performance and range in these key segments.
• Increasing competitive pressure from aggressive, lower-cost Asian manufacturers, notably CFMoto. This company is rapidly expanding its presence and market share in North America and Europe, particularly in the all-terrain vehicle (ATV) and side-by-side segments where BRP's Can-Am brand operates. CFMoto offers products at more accessible price points, which could attract new buyers or those seeking alternatives to premium brands, thereby potentially eroding BRP's market share or pressing its margins in these important segments.

BRP (TSX: DOOO), a global leader in powersports vehicles and marine products, operates in several significant addressable markets worldwide. The company's main products include snowmobiles (Ski-Doo, Lynx), all-terrain vehicles (ATVs) and side-by-side vehicles (SSVs) under the Can-Am brand, and personal watercraft (PWC) with its Sea-Doo brand. BRP also manufactures Rotax engines, which are used in its own products and supplied to other manufacturers.

Powersports Market

The overall global powersports market was estimated at USD 39.50 billion in 2023 and is projected to reach USD 59.28 billion by 2030, demonstrating a Compound Annual Growth Rate (CAGR) of 6.0%. Another estimate values the global powersports market at USD 59.6 billion in 2024, with a projection to reach USD 109.2 billion by 2034 at a CAGR of 6.7%.

In North America, the powersports market exceeded USD 20 billion in 2023 and is anticipated to grow at a CAGR of 5.6% from 2024 to 2030. The U.S. powersports market alone was estimated at USD 14 billion in 2023. North America held over 51.9% of the global powersports market share in 2023.

Snowmobiles

The global snowmobile market was valued at approximately USD 1.2 billion in 2023 and is estimated to grow at a CAGR of over 8% between 2024 and 2032. Other estimates place the global market at US$ 1.65 billion in 2023, expected to reach US$ 2.2 billion by 2033 with a 2.9% CAGR. The North American snowmobile market accounted for around 75% of the revenue share in 2023 and held a substantial market share of over 78% in terms of revenue in 2022.

All-Terrain Vehicles (ATVs) and Side-by-Side Vehicles (SxS/UTVs)

The global ATV and side-by-side (SxS) market is currently valued at approximately USD 10 billion annually in 2025 and is projected to grow at a CAGR of 4-5% over the next five years. Another report states the global ATV and UTV market size was valued at USD 16.21 billion in 2022, and is projected to reach USD 29.23 billion by 2030, at a CAGR of 6.8% from 2023 to 2030. North America represents the largest market share for ATVs and SxS vehicles. The North America ATV and UTV Market size is estimated at USD 10.96 billion in 2025 and is expected to reach USD 15.83 billion by 2030, growing at a CAGR of 7.64%.

Personal Watercraft (PWC)

The global personal watercraft (PWC) market was valued at USD 2.13 billion in 2024 and is projected to reach USD 4.03 billion by 2034, growing at a CAGR of 6.62%. Another source indicates a global market size of USD 1.16 billion in 2024, projected to grow to USD 2.21 billion by 2032 with a CAGR of 8.5%. North America holds a significant share, accounting for 42% of the global Jet Skis market and dominates the personal watercraft market share. BRP's Sea-Doo brand holds the largest market share in the PWC market globally, and in 2016, Sea-Doo had a 45.8% share of the PWC market in the U.S.

BRP Inc. (DOOO) is expected to drive future revenue growth over the next two to three years through a combination of strategic initiatives and market dynamics:

1. New Product Introductions and Electrification: BRP is heavily investing in research and development to launch innovative products, including new electric models. Recent introductions like the Can-Am Defender and the Outlander Electric ATV, along with the upcoming Can-Am Pulse and Origin electric motorcycles, are expected to enhance its position in the powersports market and attract new customers.
2. Market Share Expansion within Powersports: The company has demonstrated an ability to gain market share, particularly in segments such as utility side-by-side vehicles. BRP plans to maintain and grow its market share in the powersports industry, focusing its efforts and investments on its core activities after divesting its Marine business.
3. Anticipated Industry Recovery and Demand Rebound: Despite current headwinds like high interest rates and elevated dealer inventories, an anticipated rebound in consumer demand for recreational products and a stabilization of promotional spending are expected to contribute to revenue growth. BRP's ongoing inventory reduction strategies are positioning the company for this anticipated recovery.
4. Strategic Pricing and Product Mix Optimization: BRP has focused on strategic product mix and pricing efficiencies to bolster its financial resilience. This approach has already contributed to revenue increases in certain segments, such as its year-round products, and is expected to continue to be a factor in future revenue generation.

Share Repurchases

• BRP received approval to repurchase up to 3,331,852 subordinate voting shares, representing 10% of the public float, over the twelve-month period from December 10, 2024, to December 9, 2025.
• Under a previous normal course issuer bid, which expired on December 4, 2024, BRP repurchased 3,231,999 shares at an average price of $90.76 CAD.
• For the twelve-month period ended January 31, 2025, BRP returned $277.0 million CAD to its shareholders through quarterly dividend payouts and its share repurchase programs.

Capital Expenditures

• Capital expenditures for the fiscal year ended January 31, 2025, totaled $425.5 million CAD, primarily directed towards the introduction of new products and the modernization of the company's software infrastructure.
• During the six-month period ended July 31, 2024, BRP invested $180.7 million CAD in capital expenditures, focusing on new product introductions and software infrastructure modernization.
• Capital expenditures consistently represent approximately 6% of revenues, reflecting ongoing necessary investments for product development and innovation.