Brunswick Corporation · NYSE:BC
Brunswick — Non-Deal Roadshow (2025)
26 slides from Brunswick's roadshow presentation, 2025
Slide 1: Q2 2025 Investor Meetings
Q2 2025 Investor Meetings Brunswick Corporation Executive Summary
Slide 2: Forward-Looking Statements
BRUNSW ICK CORPORATION – EARNINGS RELEASE 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 abo
Slide 3: Use of Non-GAAP Financial Information and Constant Currency Reporting
BRUNSW ICK CORPORATION – EARNINGS RELEASE 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 c
Slide 4: About Brunswick
BRUNSW ICK CORPORATION ~50% of U.S. recreational boats are powered by 800+ Mercury Marine engines patents since 2017 About — Brunswick 3 out ~60k of 4 Freedom Boat Club Memberships Globally most recognizable U.S. boat brands ©2025 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 4
Slide 5: Reportable Segments
Engine Parts Navico Boat Business Propulsion & Accessories Group Group Acceleration World Leader — World’s Largest — Leading Supplier — 19 Market-Leading — Eco-system of — Outboard, sterndrive and high- Supplier of captive marine Integrated marine electronics, Global boat brands, serving all Synergi
Slide 6: Enhancing & Expanding Brunswick Leadership
Enhancing & Expanding Brunswick Leadership On Pace for 100+ 100+ Products to be Launched Awards for the 4th in 2025 Consecutive Year 3rd 80% Consecutive Year ## US based COGS 85% increase in revenue US focused Investment ©2025 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 6
Slide 7: Segments continue to execute well despite cautious customer/consumer
BRUNSW ICK CORPORATION Segments continue to execute well despite cautious customer/consumer Propulsion Engine Parts Navico Group1 Boat2 & Accessories1 • Sequential sales and earnings growth • 140 bps in YoY operating margin • Strong new product acceptance • Q1 wholesale remains in-line with vs Q4 20
Slide 8: Leading with purpose-built innovation
PRODUCT LEADERSHIP | HISTORIC VIEW Design Thinking Intellectual Property** Leading with purpose-built innovation 423+ Employees trained 78 Team projects 142 Disclosures | 111 Patents filed 79 Patents granted | 110 Inventors 2018 2019 2020 2021 2022 2023 2024 2025 Propulsion Controls & Rigging Racing
Slide 9: Market Position
We hold the U.S. & Canada Outboard and Sterndrive Share, Europe Outboard Share Global High Performance & Racing Engines, Drives & Propellers Global Recreational Marine P&A Distribution Largest Boat Club Globally #1 & 11’-50' Outboard Saltwater Fish 11’-40’ Runabout and Deck I/O & Premium Saltwater F
Slide 10: A Global Leader in Marine Recreation & Technology
BRUNSW ICK CORPORATION – EARNINGS RELEASE A Global Leader in Marine Recreation & Technology EU 15% CN 5% Headquartered in Mettawa, IL, US 67% a northern suburb of Chicago, Brunswick is present in 26 countries with sales in 170 AP 7% countries around the world. 25Q1 Revenue Mix ROW 6% World Headquart
Slide 11: Exposed to Economic Cycles
250,000 U.S. New Powerboat Industry Retail Unit Registrations $20 New Boat 200,000 Purchases are $15 150,000 Exposed to 100,000 $10 Economic $5 50,000 Cycles - $- 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Market Value (in billions) 10,000,000 Boating 8,000,000 Partic
Slide 12: 2025 Tariff Update
2025 Tariff Update 1 ~70% of enterprise COGS are sourced from the United States Estimated 2025 % of 2025 Impact, Net of COGS 2 Mitigation China ~5% $75 – 100M 3, 4 Mexico ~10% <$5M Canada <5% <$5M ROW <10% <$15M Section Net <5%see an incremental<$10M of offsets, we could $100 - $125M4 headwind from
Slide 13: Brunswick Leadership Position
Brunswick Leadership Position Focused growth initiatives with improved efficiency advance our market leadership position and deliver best in class TSR in a smaller than planned market Strategy Working — Continue to Pursue Growth — Execution, Efficiency Outperforming Peers Adapt to Changing Landscape
Slide 14: Cutting-Edge Products, Synergies, and Business Innovation
BRUNSW ICK CORPORATION – EARNINGS RELEASE Cutting-Edge Products, Synergies, and Business Innovation To Update NSS4 MFD New Product Line 2025 Freedom Forum Series 5 w/Flite Jet 2 C21 C30/S30 ©2025 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 14
Slide 15: ©2025 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED.
©2025 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 15
Slide 16: Financial Profile
BRUNSW ICK CORPORATION Financial Profile ©2025 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 16
Slide 17: Q1 2025 Highlights
BRUNSW ICK CORPORATION – EARNINGS RELEASE ✓ Strong sequential sales, operating margin and $1.2B $0.56 1 EPS improvement vs. Q4 2024 Net Sales Adjusted EPS ✓ Exceptional Free Cash (-11% vs. Q1 2024) (-59% vs. Q1 2024) Flow – second best Q1 Q1 2025 performance in over a decade Solid first quarter, abo
Slide 18: 2025 Guidance
BRUNSW ICK CORPORATION – EARNINGS RELEASE 2025 Guidance1 $5.0B to $5.4B 6.5% to 8.0% Revenue Operating Margin Previously: $5.2B to $5.6B Previously: 7.5% to 9.0% $2.50 to $4.00 $350M+ EPS Free Cash Flow Previously: $3.50 to $5.00 No Change $1.1B to $1.3B $0.80 to $1.10 Q2 Revenue Q2 EPS 1EACH ON AN
Slide 19: Shareholder Return
Shareholder Return 13 $1.6B ~70% Consecutive of Share of Net Income years of Repurchases returned to Dividend (since 2019) Shareholders increases (since 2019) ©2025 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 19
Slide 20: Appendix
BRUNSW ICK CORPORATION Appendix ©2025 BRUNSW ICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 20
Slide 21: 2025 Outlook Segment Guide
BRUNSW ICK CORPORATION – EARNINGS RELEASE 2025 Outlook Segment Guide 1 Propulsion Engine P&A Navico Group Boat Net Sales Guide2 $1.9B to $1.1B to ~$0.8B $1.5B to $2.0B $1.2B $1.6B Previously: $2.0 to No Change Previously: $0.8 to $0.9B Previously: $1.5 to $1.7B $2.2B Operating High ~20% Mid to High
Slide 22: 2025 Outlook – Capital Strategy and Other Assumptions
BRUNSWICK CORPORATION – EARNINGS RELEASE 2025 Outlook – Capital Strategy and Other Assumptions Average Diluted Net Working Capital Debt Retirement Net Interest Expense Shares Outstanding Generation ~$125M ~66.0M ~$110M ~$100M Previously: ~$115M Negative Currency Capital Expenditures Share Repurchase
Slide 23: Net Sales – Q1 2025
BRUNSW ICK CORPORATION – EARNINGS RELEASE Net Sales – Q1 2025 Net Sales decreased by $143.2 million, or 11 percent Segments Q1 2025 Q1 2024 % Change Propulsion $487.0 $578.2 (16%) Engine Parts & Accessories 255.3 262.4 (3%) NET Navico Group 208.2 210.9 (1%) SALES Boat Segment Eliminations 372.1 (100
Slide 24: GAAP to Non-GAAP Reconciliations – Q1 2025
BRUNSW ICK CORPORATION – EARNINGS RELEASE GAAP to Non-GAAP Reconciliations – Q1 2025 Operating Earnings and Diluted Earnings per Share Operating Earnings Diluted Earnings per Share (in millions, except per share data) Q1 2025 Q1 2024 Q1 2025 Q1 2024 GAAP $56.3 $110.6 $0.30 $1.00 Restructuring, exit
Slide 25: Tax Rate
BRUNSW ICK CORPORATION – EARNINGS RELEASE Tax Rate Q1 2025 Q1 2024 Effective Tax Rate - GAAP 28.1% 21.4% Effective Tax Rate - As Adjusted 1 22.1% 21.6% (1) TAX PROVISION, AS ADJUSTED, EXCLUDES $1.8 MILLION AND $0.1 MILLION OF NET PROVISIONS FOR SPECIAL TAX ITEMS FOR Q1 2025 AND Q1 2024, RESPECTIVELY
Slide 26: Free Cash Flow
BRUNSW ICK CORPORATION – EARNINGS RELEASE Free Cash Flow (in millions) Q1 2025 Q1 2024 Net cash used for operating activities from continuing operations ($13.4) ($148.1) Net cash (used for) provided by: Capital expenditures (37.7) (54.0) Proceeds from sale of property, plant, equipment 3.4 2.3 Effec