BRP ANNOUNCES ORGANIZATIONAL STRUCTURE CHANGES AND RELATED EXECUTIVE LEADERSHIP APPOINTMENTS

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Jan 18, 2024, 08:30 ET

VALCOURT, QC, Jan. 18, 2024 /PRNewswire/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announces today some changes to its Powersports and Marine organizational structures aiming at maximizing efficiencies and operational excellence, while leveraging its leaders' expertise to better position the Company for long-term growth.

The Powersports and Marine Groups are combined under one leadership to ensure stronger alignment and focus, create synergies and enable the teams to leverage functional expertise stemming from both commercial businesses. This change further solidifies BRP's dedication to driving sustained profitable growth while delivering a compelling value proposition to its network of dealers and distributors. Sandy Scullion, currently President, Powersports Group, is appointed to the position of President, Powersports and Marine. In this position, Mr. Scullion will assume P&L responsibility for both businesses with direct oversight on Global Retail and Services. With his 30 years of experience at BRP, Mr. Scullion is a seasoned and visionary leader who has a deep understanding of the business and the market globally.

Furthermore, to maximize efficiencies and elevate operational excellence, BRP is combining the Manufacturing Operations for the Powersports and Marine Groups under the leadership of Patrick Dussault. Mr Dussault, who was already leading the manufacturing operations for Powersports, is therefore appointed to the position of Executive Vice-President, Global Manufacturing Operations, Powersports and Marine. As a result, Mr. Dussault becomes a member of the Executive Leadership Team of BRP. Mr. Dussault has been with BRP for over 25 years and played key roles in manufacturing operations and procurement. He has namely instigated and implemented the innovative and agile manufacturing strategy of BRP, and successfully led the establishment of new manufacturing sites.

Since taking over the leadership of the Marine Group back in 2023, Bernard Guy made significant strides in positioning the business for success, namely by raising the bar to ensure the production facilities are ready to manufacture high-quality boats and pontoons. Mr. Guy is now refocusing on his primary role as Executive Vice-President, Global Product Strategy, Powersports and Marine. A long-standing executive of BRP with 35+ years with the Company, Mr. Guy will continue driving product innovation and improvement to provide the ultimate experience for riders and boaters.

"I am confident that these organizational changes to our Powersports and Marine Groups will further improve BRP's position for its long-term growth," said José Boisjoli, President and CEO of BRP. "Having Sandy at the helm of Powersports and Marine globally will enable us to capitalize on his proven track record to achieve our ambitious growth objectives. I'm also pleased to welcome Patrick to our Executive Management Team, and I have every confidence that he will be able to continue driving operational excellence in our facilities. Finally, I am very grateful to Bernard for the instrumental role he has played to position our Marine Group for success. More importantly, Bernard will now be 100% focused on bringing cutting-edge innovations to our lineups to fuel our competitive edge."

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements included in this release, including, but not limited to, statements relating to the expected impact of the announced organizational structure changes, including the Company's ability to maximize efficiencies and operational excellence, create synergies and leverage its leaders' expertise, as well as its impact in better positioning the Company for long-term growth, and statements relating to the expected impact of the two new executive leadership appointments on the Company, its operations and its growth objectives, or any other future events or developments and other statements that are not historical facts, constitute "forward-looking statements" within the meaning of applicable securities laws. The words "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes" "estimates", "outlook", "predicts", "projects", "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, by their nature, involve inherent risks and uncertainties and are based on assumptions, both general and specific.The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Actual results or future events or developments may differ materially from those expressed or implied by the forward-looking statements due to a number of factors, including those identified in BRP's annual management's discussion and analysis and audited consolidated financial statements for its fiscal year 2023, the management's discussion and analysis and interim financial statements for the first three quarters of its fiscal year 2024 and the other recent and future filings with applicable Canadian and U.S. securities regulatory authorities, available on SEDAR at sedar.com or EDGAR at sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. The forward-looking statements contained in this press release are made as of the date of the press release and the Company has no intention and undertakes no obligation to update or revise any 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 does update any forward-looking statements contained in this press release, no inference should be made that the Company will make additional updates with respect to that statement, related matters or any other forward-looking statement.

About BRP
BRP Inc. 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 and 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 CA$10 billion from over 130 countries and a global workforce of close to 23,000 driven, resourceful people.

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SOURCE BRP Inc.