BRP Inc. subordinate voting shares are traded on the Toronto Stock Exchange under the symbol “DOO.”

Since the completion of its IPO in May of 2013, the Company has not to date declared or paid any dividend on its Shares. Any future determination to pay dividends on the Shares would be at the discretion of the Board of Directors and would depend on, among other things, the Company’s results of operations, current and anticipated cash requirements and surplus, financial condition, contractual restrictions and financing agreement covenants (including restrictions in the Term Credit Agreement and the Revolving Credit Agreement or other material agreements of the Company), solvency tests imposed by corporate law and other factors that the Board of Directors may deem relevant.

BMO Capital Markets • Canaccord Genuity • CIBC World Markets • Citigroup • Desjardins Securities • GMP Securities • Morningstar • National Bank Financial • RBC Capital Markets • Robert W. Baird & Co. • ScotiaBank • UBS • Wells Fargo

¹Analyst coverage known to the Company as at March 31, 2016.


First Quarter: Thursday, June 1, 2017
Second Quarter: Friday, September 1, 2017
Third Quarter: Friday, December 1, 2017
Fourth Quarter: Thursday, March 22, 2018

As of April 28, 2017, the issued and outstanding shares of BRP Inc. consist of 32,800,865 subordinate voting shares and 79,023,344 multiple voting shares.

The meeting will be held at 11 a.m. Eastern Time, June 1, 2017, at the Product Development Centre, 841 Cartier Street, Valcourt, Québec. The record date for shareholders is April 12, 2017.

Analysts, shareholders and interested investment professionals may direct their business-related inquiries to:

Investor Relations Department
BRP Inc.
726 Saint-Joseph
Valcourt, Québec  J0E 2L0  Canada
Tel.: +1 (450) 532-2211

For shareholder-related services, including estate change of name or address, stock transfers, settlement, lost stock certificates and duplicate mailings, please contact the transfer agent at:

Computershare Investor Services Inc.
100 University Ave., 8th Floor
Toronto, Ontario  M5J 2Y1  Canada
Tel: +1 (866) 245-4053

To view the Company’s Annual Review and related financial information, to learn more about the products, to download product brochures or to find dealer locations, please visit the Company’s website at

Certain statements in this Annual Review about the Company’s current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements. The words “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “predicts”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements.

Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct or that the Company’s business guidance, objectives, plans and strategic priorities will be achieved.

Many factors could cause the Company’s actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including those identified in BRP’s annual information form and management’s discussion and analysis of financial condition and results of operations.

The purpose of the forward-looking statements is to provide the reader with a description of management’s expectations regarding the Company’s financial performance and may not be appropriate for other purposes; readers should not place undue reliance on forward-looking statements made herein. Furthermore, unless otherwise stated, the forward-looking statements contained in this Annual Review are made as of the date of this Annual Review, and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities regulations. The forward-looking statements contained in this Annual Review are expressly qualified by this cautionary statement.

This Annual Review makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non-IFRS measures including Normalized EBITDA, Normalized Net Income, Normalized basic earnings per share and Normalized diluted earnings per share.

Normalized EBITDA is provided to assist investors in determining the financial performance of the Company’s operating activities on a consistent basis by excluding certain non-cash elements such as depreciation expense, impairment charge and foreign exchange gain or loss on the Company’s long-term debt denominated in U.S. dollars. Other elements, such as restructuring costs, may also be excluded from net income in the determination of Normalized EBITDA as they are considered not being reflective of the operational performance of the Company. Normalized Net Income, Normalized basic earnings per share and Normalized diluted earnings per share, in addition to the financial performance of operating activities, take into account the impact of investing activities, financing activities and income taxes on the Company’s financial results.

The Company believes non-IFRS measures are important supplemental measures of financial performance because they eliminate items that have less bearing on the Company’s financial performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS measures. The Company also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. Management also uses non-IFRS measures in order to facilitate financial performance comparisons from period to period, prepare annual operating budgets, assess the Company’s ability to meet its future debt service, capital expenditure and working capital requirements and, also, as a component in the determination of the short-term incentive compensation for the Company’s employees. Because other companies may calculate these non-IFRS measures differently than the Company does, these metrics are not comparable to similarly titled measures reported by other companies. Refer to the Company’s management’s discussion and analysis of financial condition and results of operations for Fiscal Year 2017, available on SEDAR at, for definitions and reconciliations of Normalized EBITDA, Normalized Net Income and Normalized Diluted Earnings per Share to the most directly comparable IFRS measures.