Mr. Kevin Davis reports

PERFORMANCE SPORTS GROUP PROVIDES PRELIMINARY FISCAL FOURTH QUARTER AND FULL YEAR 2015 RESULTS

Performance Sports Group Ltd. has provided preliminary results for its fiscal fourth quarter and full year ended May 31, 2015. All figures below are in U.S. dollars and assume no change in currency rates from the prior year unless specifically noted.

For the fourth quarter of 2015, the company expects currency-neutral revenues of more than $156-million, or an approximate 38-per-cent increase from $112.9-million in the same year-ago quarter. Including the effect of changes in foreign currency rates, the company expects to report record revenues of more than $147-million, up approximately 30 per cent.

For fiscal 2015, the company expects currency-neutral revenues of more than $675-million, or an approximate 51-per-cent increase from $446.2-million in fiscal 2014. Including the effect of changes in foreign currency rates, the company expects to report record revenues of more than $654-million, up approximately 47 per cent.

The growth in reported revenues for both the fourth quarter and the full year were driven by solid sales growth in ice hockey and lacrosse equipment, and the addition of EASTON baseball/softball, partially offset by the unfavourable effect of foreign exchange.

Currency-neutral adjusted net income (a non-IFRS (international financial reporting standards) measure) in the fourth quarter of 2015 is expected to be approximately $14-million or 30 cents per diluted share, compared with $10.8-million or 29 cents per diluted share in the year-ago quarter. Excluding the gain of nine cents per diluted share from the BRG Sports intellectual property litigation settlement in the fourth quarter of fiscal 2014, currency-neutral adjusted net income is expected to increase approximately 85 per cent, while currency-neutral adjusted EPS (earnings per share) is expected to increase approximately 50 per cent, demonstrating the continued power of the PSG brands and the strong performance of the company's operations teams. The company expects foreign exchange to unfavourably affect currency-neutral adjusted net income by approximately 13 cents per diluted share in the fourth quarter of 2015, resulting in reported adjusted net income of approximately $8-million or 17 cents per diluted share.

For fiscal 2015, the company expects currency-neutral adjusted net income to increase by approximately 65 per cent to $61.5-million or $1.33 per diluted share, compared with $37.3-million or $1.00 per diluted share in fiscal 2014. Excluding the litigation settlement referred to above, currency-neutral adjusted net income is expected to increase approximately 80 per cent, while currency-neutral adjusted EPS is expected to increase approximately 45 per cent. The company expects foreign exchange to unfavourably affect full-year currency-neutral adjusted net income by approximately 30 cents per diluted share, resulting in reported adjusted net income of approximately $48-million or a record $1.03 per diluted share.

Management commentary

"Our record revenues in both the quarter and year reflect strong demand for our innovative and diversified collection of performance sports brands, as well as the powerful platform which supports these brands," said Kevin Davis, chief executive officer of Performance Sports Group. "We continue to outpace the growth of all our key markets, grow market share, improve our operational efficiency and leverage our platform to drive profitability faster than revenue growth on a currency-neutral basis. These have been, and will continue to be, the driving forces of value creation for our shareholders. We have emphasized these key drivers since we went public in 2011, and we expect to reinforce them as changes in foreign currencies impact our reported results.

"Our growth plan remains intact for fiscal year 2016 and beyond," continued Mr. Davis, "and our initiatives for improving cash flow and earnings growth are beginning to demonstrate the results we expected. The one major driver of change in our reported results is the significant increase in the value of the U.S. dollar. As such, we want to emphasize the strong continued performance of our business and continue to be transparent with respect to the impact of foreign currency as we move further into fiscal 2016.

"As we have previously disclosed, changes in foreign currency rates can have a significant impact on our results, particularly for hockey, which represents nearly all of our revenues generated outside of the U.S. In the third quarter, we started to experience the sharp appreciation in the U.S. dollar, the impact of which we disclosed with our third quarter results. We also noted that since the fourth quarter typically produces more than twice the hockey-related revenues than the third quarter, the impact from year-over-year changes in foreign exchange rates was expected to at least double in the fourth quarter. We continue to anticipate the impact of foreign currency rates to be more pronounced in the first quarter of fiscal 2016, where hockey typically represents more than 35 per cent of our total revenues, as compared to approximately 20 per cent in the fourth quarter.

"Despite the impact that changing foreign currency rates have on our reported numbers, we are proud that every brand in our portfolio continues to gain category market share while leveraging the PSG platform to support continued profitable growth in fiscal year 2016 and beyond."

Presentation of financial information

All figures reported above with respect to the fiscal fourth quarter and full year ended May 31, 2015, are preliminary, have not been reviewed by the company's auditors and are subject to change as the company's financial results are finalized. Further, while such preliminary results are presented in accordance with IFRS, the company's finalized results will be reported in accordance with U.S. GAAP (generally accepted accounting principles) as a result of the company's transition to U.S. domestic issuer status.

The preliminary results provided in this press release therefore constitute forward-looking statements within the meaning of applicable securities laws, are based on a number of assumptions, and are subject to a number of risks and uncertainties, including with respect to the conversion of such results from IFRS to U.S. GAAP.

The company will announce at a later date when it intends to issue a press release with respect to the finalized financial results for the fiscal fourth quarter and full year ended May 31, 2015. At such time, the company will also file its annual report on Form 10-K, which will include audited consolidated financial statements as at and for the years ended May 31, 2015, and 2014, together with the notes thereto and related management's discussion and analysis of financial condition and results of operations of the company for the three- and 12-month periods ended May 31, 2015.

Conference call

Performance Sports Group will hold a conference call on July 8, 2015, at 8:30 a.m. ET to discuss its preliminary fiscal fourth quarter and full-year 2015 results.

The company's CEO, Mr. Davis, and president of PSG Brands and chief financial officer, Amir Rosenthal, will host the conference call, which will be followed by a question-and-answer period.

Date:  Wednesday, July 8, 2015

Time:  8:30 a.m. ET

Toll-free dial-in number:  1-888-428-9473

International dial-in number:  1-719-325-2428

Conference ID:  9151032

Please call the conference telephone number five to 10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios Group at 1-949-574-3860.

The conference call will be broadcast live and available for replay via the investors section of the company's website and elsewhere on-line.

A replay of the conference call will be available after 8 p.m. ET on the same day through July 22, 2015.

Toll-free replay number:  1-877-870-5176

International replay number:  1-858-384-5517

Replay ID:  9151032

We seek Safe Harbor.