BRP Inc.

Basis of Presentation

The following management’s discussion and analysis (“MD&A”) provides information concerning the financial condition and results of operations of BRP Inc. (the “Company” or “BRP”) for the year ended January 31, 2024. This MD&A should be read in conjunction with the audited consolidated financial statements for the years ended January 31, 2024 and January 31, 2023. Some of the information included in this discussion and analysis contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from underlying forward-looking statements as a result of various factors, including those described in the “Forward-Looking Statements” section of this MD&A. This MD&A reflects information available to the Company as at March 27, 2024.

The audited consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). All amounts presented are in Canadian dollars unless otherwise indicated. All references in this MD&A to “Fiscal 2024”, “Fiscal 2023” and “Fiscal 2022” are to the Company’s fiscal year ended January 31, 2024, 2023 and 2022 respectively.

This MD&A, approved by the Board of Directors on March 27, 2024, is based on the Company’s audited consolidated financial statements and accompanying notes thereto for the years ended January 31, 2024 and 2023.