Brunswick Corporation · NYSE:BC
Brunswick — Non-Deal Roadshow (2026)
30 slides from Brunswick's roadshow presentation, 2026
Slide 1: Q1 2026 Investor Meetings
Q1 2026 Investor Meetings Brunswick Corporation
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements in this presentation are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick’s business and by their natur
Slide 3: Use of Non-GAAP Financial Information and Constant Currency Reporting
Use of Non-GAAP Financial Information and Constant Currency Reporting In this presentation, Brunswick uses certain non-GAAP financial measures, which are numerical measures of a registrant’s historical or future financial performance, financial position, or cash flows that exclude amounts, or are su
Slide 4: About Brunswick
~50% of U.S. recreational boats are powered by 1000+ Mercury Marine engines patents since 2017 About — Brunswick 60k+ 3 out of 4 Freedom Boat Club Memberships Globally most recognizable U.S. boat brands ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 4
Slide 5: Unrivalled Capability and Pace; Advantaged Footprint
Unrivalled Capability and Pace; Advantaged Footprint 100+ 100+ Products Launched Awards for the 4th in 2025 Consecutive Year 70% U.S.-based COGS 90% U.S.-focused Investment ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 5
Slide 6: Brunswick Reportable Segments
Engine Parts Business Propulsion & Accessories Navico Group Boat Group Acceleration World Leader — World’s Largest — Leading Supplier — 18 Market-Leading — Ecosystem of — Outboard, sterndrive, and high- Supplier of captive marine Integrated marine electronics, Global boat brands, serving all Synergi
Slide 7: Q4 2025 – All Segments Grew Sales for Second Consecutive Quarter
Q4 2025 – All Segments Grew Sales for Second Consecutive Quarter Propulsion Engine P&A Navico Group Boat1 ✓ Showed Mercury ‘808’ concept at ✓ Favorable weather and strong fall ✓ Robust new product development ✓ 2H retail significantly improved CES, highlighting uncontested sales program performance
Slide 8: Leading with purpose-built innovation
Leading with purpose-built innovation Design Thinking 449+ Employees trained Intellectual Property1 196 Disclosures | 173 Patents filed 78 Team projects 180 Patents granted | 225 Inventors 2018 2019 2020 2021 2022 2023 2024 2025 2026 Propulsion Controls & Rigging Racing Major Releases 8 12 8 11 11 1
Slide 9: Market Leading Position
We hold the U.S. & Canada Outboard and Sterndrive Global High Performance & Racing Global Recreational Marine P&A Largest Boat Club Globally #1 Share, Europe Outboard Share Engines, Drives & Propellers Distribution & Rec Fiberglass in Spain, & 11’-50' Outboard Saltwater Fish Premium Saltwater Fish P
Slide 10: A Global Leader in Marine Recreation & Technology
A Global Leader in Marine Recreation & Technology EU 14% CN 6% Headquartered in Mettawa, IL, US 67% a northern suburb of Chicago, Brunswick is present in 26 countries with sales in ~150 AP 7% countries around the world. 2025 Revenue Mix ROW 6% World Headquarters Mettawa, IL USA ©2026 BRUNSW ICK CO.
Slide 11: Exposed to Economic Cycles
250,000 U.S. New Powerboat Industry Retail Unit Registrations1 New Boat 200,000 Purchases are 150,000 Exposed to 100,000 Economic Cycles 50,000 - Boating Participation excl <16ft2 7,000,000 Boating Participation Remains Consistent 6,500,000 78% >90% Boating Participation Expect to remain where Weath
Slide 12: Brunswick's Competitive Advantage
Brunswick’s Competitive Advantage Strategy Working — Continuing to Pursue Growth — Execution, Efficiency, Strong Financial Profile – Outperforming Peers Capturing Market Share and Enterprise Leverage Investment Grade Committed ✓ Differentiated portfolio and business ✓ Product and experience leadersh
Slide 13: Cutting-Edge Product Innovation Displayed at CES 2026
Cutting-Edge Product Innovation Displayed at CES 2026 CES 2026 Mercury 808 Concept • Featured boats from 3 of • Ultra-high horsepower concept our industry-leading brands based on 600hp platform signaling future direction of • Showcased revolutionary outboard propulsion Simrad AutoCaptain • Emphasize
Slide 14: Strong Recent Boat Show Performance and New Product Introductions
Strong Recent Boat Show Performance and New Product Introductions FLIBS Dusseldorf MIBS Awards ✓Record 61% overall Mercury ✓Mercury share exceeded 50%, ✓New record of 84% on-water ✓Navan S30 – Motorboat of the outboard share 70% engine share 300+ hp outboard engines share Year for Best Weekender ✓Co
Slide 15: Financial Profile
Financial Profile ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 15
Slide 16: Full Year 2025 Results
✓ Q4 sales and adjusted earnings1 increased for all segments vs. Q4 2024 $5.4B $3.27 1 ✓ Outstanding 2025 free cash flow1, supporting shareholder capital return Net Sales Adjusted EPS while retiring ~$240M of (+2% vs. 2024) (-28% vs. 2024) debt Full Year 2025 ✓ Boat and engine pipeline Outstanding f
Slide 17: 2026 Guidance
2026 Guidance1 Key Assumptions Full year guidance reflects broad-based growth and ✓ Stable macro- strong operating leverage in a flat-to-slightly up market environment ✓ Flat-to-slightly up U.S. $5.6B to $5.8B 7.5% to 8.0% retail boat market Revenue Operating Margin ✓ Wholesale / retail alignment ✓
Slide 18: Shareholder Return
Shareholder Return 14 $1.7B ~70% Consecutive Years Share Repurchases Net Income Returned of Dividend (since 2019)1 to Shareholders Increases (since 2019) 38% 116% LTM Stock Price Total Shareholder Return Appreciation1 (since 2019)1 2 1 PERFORMANCE AS OF 2/18/2026. 2 FOCUSED MARINE STRATEGY EXECUTION
Slide 19: Appendix
BRUNSW ICK CORPORATION Appendix ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 19
Slide 20: 2026 Outlook - Segment Guide
2026 Outlook - Segment Guide1 Propulsion Engine P&A Navico Group Boat Revenue Growth Mid-to-High Low-to-Mid Mid Mid-to-High Guide2 Single-Digit Percent Single-Digit Percent Single-Digit Percent Single-Digit Percent Operating Margin Flat-to-Up 30 ~20% Up 50+ Up 100+ Guide Basis Points Basis Points Ba
Slide 21: 2026 Guidance – Capital Structure and Assumptions
2026 Guidance1 Capital Structure P&L and Cash Flow Assumptions ✓ ~$240M debt retired in 2025 against $400M ’25/’26 target $35M to $45M $15M to $25M ✓ Attractive long-term debt profile with no maturities Incremental Net Positive Currency until 2029 Tariff Impact Impact ✓ On path to 2x net leverage ta
Slide 22: 2026 Outlook – Capital Strategy and Other Assumptions
2026 Outlook – Capital Strategy and Other Assumptions Average Diluted Effective Tax Rate Debt Retirement Shares Outstanding Net Interest Expense As Adjusted1 ~$160M ~65.5M ~$95M ~22% 1 TAX PROVISION, AS ADJUSTED FOR SPECIAL TAX ITEMS. ©2026 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 22
Slide 23: Net Sales – Q4 2025
Net Sales – Q4 2025 Net Sales increased by $178.9 million, or 16 percent Segments Q4 2025 Q4 2024 % Change Propulsion $556.6 $452.1 23% NET Engine Parts & Accessories Navico Group 260.7 203.0 226.2 195.1 15% 4% SALES Boat 387.3 348.3 11% Segment Eliminations (73.8) (66.8) (11%) (in millions) Total $
Slide 24: GAAP to Non-GAAP Reconciliations – Q4 2025
GAAP to Non-GAAP Reconciliations – Q4 2025 Operating Earnings and Diluted Earnings per Share Operating Earnings Diluted Earnings per Share (in millions, except per share data) Q4 2025 Q4 2024 Q4 2025 Q4 2024 GAAP $41.9 ($55.7) $0.28 ($1.07) Purchase accounting amortization 14.5 14.7 0.20 0.19 Restru
Slide 25: GAAP to Non-GAAP Reconciliations – Q4 2025
GAAP to Non-GAAP Reconciliations – Q4 2025 Operating Earnings By Segment Q4 2025 (in millions) Propulsion P&A Navico Boat Corporate Net sales $556.6 $260.7 $203.0 $387.3 GAAP operating earnings (loss) 36.0 27.1 (0.3) 16.7 (37.6) Purchase accounting amortization 0.3 — 13.1 1.1 — Restructuring, exit a
Slide 26: Net Sales – Full-Year 2025
Net Sales – Full-Year 2025 Net Sales increased by $125.7 million, or 2 percent Segments FY 2025 FY 2024 % Change Propulsion $2,177.2 $2,074.2 5% Engine Parts & Accessories 1,217.5 1,160.8 5% NET Navico Group 800.4 800.2 0% SALES Boat 1,525.2 1,553.5 (2%) Segment Eliminations (357.5) (351.6) (2%) (in
Slide 27: GAAP to Non-GAAP Reconciliations – Full-Year 2025
GAAP to Non-GAAP Reconciliations – Full-Year 2025 Operating Earnings and Diluted Earnings per Share Operating Earnings Diluted Earnings per Share (in millions, except per share data) FY 2025 FY 2024 FY 2025 FY 2024 GAAP ($40.7) $311.6 ($2.06) $2.21 Restructuring, exit and impairment charges 353.1 12
Slide 28: GAAP to Non-GAAP Reconciliations – Full-Year 2025
GAAP to Non-GAAP Reconciliations – Full-Year 2025 Operating Earnings by Segment FY 2025 (in millions) Propulsion P&A Navico Boat Corporate Net sales $2,177.2 $1,217.5 $800.4 $1,525.2 GAAP operating earnings (loss) 193.0 220.3 (339.6) 32.2 (146.6) Purchase accounting amortization 1.2 — 53.0 4.4 — Res
Slide 29: Tax Rate
Tax Rate Q4 2025 Q4 2024 Q4 Effective Tax Rate - GAAP 31.5% 17.3% Effective Tax Rate - As Adjusted 1 13.8% 11.0% FY 2025 FY 2024 Effective Tax Rate - GAAP (0.2%) 26.6% YTD Effective Tax Rate - As Adjusted 2 20.4% 21.0% (1) T AX PROVISION, AS ADJUST ED, EXCLUDES $9.2 MILLION AND $3.6 MILLION OF NET P
Slide 30: Free Cash Flow
Free Cash Flow (in millions) Q4 2025 Q4 2024 Net cash provided by operating activities from continuing operations $134.6 $312.0 Net cash (used for) provided by: Q4 Capital expenditures (49.3) (30.3) Proceeds from sale of property, plant, equipment 3.8 6.8 Effect of exchange rate changes (1.5) (10.8)