An anonymous director reports

BRP ANNOUNCES THE RENEWAL OF ITS NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has approved the renewal of BRP Inc.'s normal course issuer bid (NCIB) to purchase for cancellation up to 3,231,999 subordinate voting shares over the 12-month period commencing on Dec. 5, 2023, and ending no later than Dec. 4, 2024, representing approximately 10 per cent of the public float of 32,319,996 subordinate voting shares as at Nov. 28, 2023. As at Nov. 28, 2023, 33,487,275 subordinate voting shares were issued and outstanding.

The NCIB will be conducted through the facilities of the TSX or alternative Canadian trading systems, if eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market transactions or such other means as a securities regulatory authority may permit, including prearranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority.

Under TSX rules, BRP will be allowed to purchase daily, through the facilities of the TSX, a maximum of 41,764 subordinate voting shares, representing 25 per cent of the average daily trading volume of 167,057, as calculated per the TSX rules for the most recently completed six calendar months. In addition, BRP may make, once per week, a block purchase (as such term is defined in the TSX company manual) of subordinate voting shares not directly or indirectly owned by insiders of BRP, in accordance with TSX rules. The subordinate voting shares purchased pursuant to the NCIB will be cancelled.

The price to be paid by BRP for any subordinate voting share will be the market price at the time of acquisition, plus brokerage fees. In the event that BRP purchases subordinate voting shares by prearranged crosses, exempt offers, block purchases or private agreements, the purchase price of the subordinate voting shares may be, and will be in the case of purchases by private agreements, at a discount to the market price of the subordinate voting shares at the time of the acquisition.

In connection with this NCIB, BRP has entered into an automatic share purchase plan (the APP) with a designated broker to allow for the purchase of subordinate voting shares under the NCIB at times when BRP would ordinarily not be permitted to purchase shares due to regulatory restrictions or self-imposed blackout periods. Pursuant to the APP, before entering into a blackout period, BRP may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the APP. Such purchases will be determined by the broker in its sole discretion based on parameters established by BRP prior to the blackout period in accordance with the rules of the TSX, applicable Canadian and United States securities laws, and the terms of the APP. The APP has been precleared by the TSX and will be implemented effective Jan. 24, 2024. Outside of predetermined blackout periods, subordinate voting shares will be purchased under the NCIB based on management's discretion, in compliance with TSX rules and applicable securities laws. All repurchases made under the APP will be included in computing the number of subordinate voting shares purchased under the NCIB.

Under the NCIB that will expire on Dec. 4, 2023, as of Nov. 30, 2023, BRP purchased 3,519,398 subordinate voting shares at a volume-weighted average price of $104.31. Purchases were effected through the facilities of the TSX and at such times and in such numbers as determined by BRP in accordance with the policies and rules of the TSX. Purchases were also made through alternative eligible trading systems. Between Dec. 5, 2022, and Dec. 4, 2023, BRP was allowed to purchase a total of 3,519,398 subordinate voting shares, representing approximately 10 per cent of the public float of 35,193,988 subordinate voting shares as at Nov. 28, 2022.

The board of directors of BRP believes that the purchase by BRP of its subordinate voting shares could represent an appropriate and desirable use of its available cash to increase shareholder value.

About BRP Inc.

BRP is a global leader in the world of powersports products, propulsion systems and boats built on over 80 years of ingenuity and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on- and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons, Rotax marine propulsion systems, as well as Rotax engines for karts and recreational aircraft, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds. The company completes its lines of products with a dedicated parts, accessories and apparel portfolio to fully optimize the riding experience. Committed to growing responsibly, BRP is developing electric models for its existing product lines and exploring new low-voltage and human-assisted product categories. Headquartered in Quebec, Canada, BRP has annual sales of $10-billion from over 130 countries and a global work force of close to 23,000 driven, resourceful people.

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