BRP ANNOUNCES C$400 MILLION

VALCOURT, QC, June 14, 2022 /PRNewswire/ – BRP (TSX: DOO) (NASDAQ: DOOO) today announced that it has increased the total commitments available under its C$400 million revolving credit facility to C$1.5 billion. Canadian dollars in total and earned a $100 million term loan from certain existing lenders under its term credit agreement.

“We are pleased to have been able to carry out these transactions which strengthen our liquidity position. Our ability to complete these transactions reflects the strong momentum we experienced during our fiscal year ended January 31our first quarter of the current fiscal year and the good outlook we have for our business,” said Sébastien Martel, Chief Financial Officer of BRP. “With our strengthened balance sheet, we are well positioned to continue to create value for our shareholders through investments in our long-term growth and the strategic deployment of our capital.”

Borrowing costs under the revolving credit agreement remain unchanged. The new term loan tranche bears interest at the forward SOFR rate (defined as the forward-looking SOFR-based forward rate plus a credit spread adjustment) plus 3.0%, with a SOFR floor at term of 0.5%, and matures on June 10, 2024. Under this financing, the amount outstanding under the Company’s term facility (including its B-1 term loan) will be US$1,588.6 billion. The product of the increase $100 million term loan will be used for general corporate purposes and to pay financing fees and expenses.

About BRP

We are a global leader in the world of powersports products, propulsion systems and boats built on 80 years of ingenuity and intensive consumer care. Our distinctive and industry-leading product portfolio includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on- and off-road vehicles, Alumacraft and Quintrex boats, Manitou Rotax pontoons and marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complement our product lines with a dedicated portfolio of parts, accessories and apparel to fully enhance the riding experience. With annual sales of C$7.6 billion in more than 120 countries, our global workforce includes nearly 20,000 motivated and resourceful people.

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Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this press release, including statements relating to the intended use of the proceeds of the Supplemental Term Loan and its impact on the Company’s liquidity position and other statements that are not facts statements, constitute forward-looking statements within the meaning of applicable securities laws. . The words “may”, “will”, “would”, “should”, “could”, “expect”, “anticipate”, “plan”, “intend”, “trends”, “indications “, “anticipates”, “believes”, “estimates”, “prospect”, “predicts”, “plans”, “probable” or “potential” or the negative or other variations of these words or other words or comparable expressions, are intended to identify statements.

Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on a number of assumptions, both general and specific. The Company cautions that its assumptions may not materialize and that current economic conditions render these assumptions, although considered reasonable at the time they were made, subject to greater uncertainty. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, including, without limitation, the risk factors described in more detail under “Factors of risk” of its annual information form dated March 24, 2022.

The forward-looking statements contained in this press release are made as of the date of this press release, and the Company has no intention and undertakes no obligation to update or revise the forward-looking statements to reflect future events, changes in circumstances or changes in beliefs, unless required by applicable securities regulations. In the event that the Company updates any forward-looking statements contained in this press release, no inference should be drawn that the Company will make additional updates with respect to this statement, related matters or any other forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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SOURCE BRP Inc.

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