FOR THE FISCAL YEAR ENDED JANUARY 31, 2026
OUR PURPOSE
OUR PEOPLE
THE
YELLOW-BLOODED PEOPLE
Our people are informed optimists
who see the world as one big opportunity, with no boundaries to the road or
their ambitions.
2 Letter from the President and CEO
Company overview
Financial highlights
Sustainability highlights
Our product lines
Powersports year-round products
12 Powersports seasonal products
16 Powersports PA&A, OEM engines and others
19 From CSR25 to Sustainability 2030
20 Advancing our journey
22 Advancing efficient and low-carbon operations
26 Building stronger communities
30 Shaping a purpose-driven culture
34 Acting with integrity
36 Our next sustainability journey
41 Sustainability performance summary
43 GRI index
SASB index
TCFD index
Reconciliation table
Information for investors
OUR VALUES
They make our culture unique, inform how we act and drive what we make.
THE PASSION TO KEEP MOVING
THE DRIVE TO DELIVER ON OUR
COMMITMENTS
Passion informs everything we do and is an integral part of each of our values. If it's not done with passion, it's not BRP.
IT'S PASSION YOU CAN FEEL.
We say what we do. We do what we say. No excuses. Only sheer
determination. A relentless drive and love of the ride push us forward.
WHILE WE LIVE FOR THE RIDE, WE ALWAYS ARRIVE AT THE DESTINATION.
THE INGENUITY TO DEFY CONVENTIONS
THE TRUST TO BUILD STRONG
PARTNERSHIPS
We're not afraid to see things differently. Constant curiosity makes us the first to uncover new solutions. We question. We innovate. We progress.
RELENTLESSLY.
We take care of our people like family. We act with integrity.
People can count on us. Like we count on them. IT'S THAT SIMPLE.
1
CAPTURING OUR FULL POWERSPORTS POTENTIAL
LETTER TO SHAREHOLDERS FOR THE FISCAL YEAR ENDED JANUARY 31, 2026
"Innovation is part of our DNA. Year after year, we broaden our lineups by introducing new models with game-changing features and pushing the limits of technology to upshift the consumer experience and further position the business for long-term success."
DENIS LE VOT
President and Chief Executive Officer
2 2-11 2-22
BRP rose to the challenge with conviction in FY26, navigating through a volatile tariff environment and a demanding competitive landscape to deliver financial results above expectations. These results were achieved under the leadership of José Boisjoli, who, over the last 22 years, spearheaded significant growth and transformed BRP into a global powersports leader.
In my first months as President and CEO, I have been impressed by the strength of the company and how well positioned we are for the future. Having witnessed first-hand BRP's exceptional talent and engaged dealer network, I am excited to lead the next chapter of this great organization, built on a solid foundation and deep-rooted values.
As in prior years, we are presenting a single report combining both our business performance and sustainability achievements. Reflecting our strong commitment to being better than yesterday, every day, for the benefit of our stakeholders and our communities, we recently launched our 2030 sustainability program, Beyond the Ride, which you will learn more about in this report.
EXECUTING OUR STRATEGIC PLAN
During the year, we introduced our new Mission 28 (M28) Strategic Plan, aimed at capturing our full powersports potential. Our team is focused on executing this plan and we have already progressed on many key initiatives, notably by gaining market share through our new ORV products, growing our North American dealer network, expanding our international business and improving efficiency by unlocking lean value. I look forward to further updating you on
our achievements.
DELIVERING ON OUR COMMITMENT TO INNOVATION
Innovation is part of our DNA. Year after year, we broaden our lineups by introducing new models with game-changing features and pushing the limits of technology to upshift the consumer experience and further position the business for long-term success.
Our iconic Can-Am brand sustained its momentum in the ORV category. In SSV, we launched the next-generation Defender HD11, reinforcing its position as the most capable, versatile and reliable utility vehicle on the market through a ground-up overhaul. We also enhanced the Maverick R with rock-crawling capabilities and implemented targeted
FINANCIAL OVERVIEW
Although FY26 was a challenging year for our industry due to macroeconomic uncertainty and the ongoing threat of tariffs, BRP delivered healthy financial results that surpassed our guidance. After making great strides in our network inventory reduction plan in the first half of the year, we achieved strong revenue and profit growth in the second half driven by new product introductions. This performance enabled us to conclude the year with revenues of $8.4 billion, a 6.8% growth compared to last year, and diluted earnings per share and normalized diluted earnings per share1 of
$4.64 and $5.21, respectively.
We generated $929 million in free cash flow, unlocking cash from working capital and remaining disciplined in our capital investments by focusing on high-return projects. These funds were used to reimburse more than $300 million in debt and to return cash to shareholders through dividend payments and share repurchases. We concluded FY26 with $427 million in cash and cash equivalents and increased our quarterly dividend by 16% to 25 cents per share in early FY27.
NEW PRODUCT INTRODUCTIONS DRIVING STRONG SECOND-HALF RETAIL PERFORMANCE
As noted last year, we acted early to reduce network inventory, supporting our dealers and protecting the value of our brands. As a result, in North America, we ended FY26 with dealer inventory levels 17% and 28% lower than 12 and 24 months ago, respectively.
BRP's overall North American retail performance was in line with the industry with a modest decline in FY26. In the first half of the year, as anticipated, our leaner inventory position temporarily affected our market share since we were competing against high levels of discounted inventory from other OEMs. However, our new ORV models reaching dealer showrooms in the fall resulted in record Q3 and Q4 market share in the utility SSV segment and increased our market share in the high-cc ATV segment by nearly nine points2.
upgrades to the Maverick X3. Our ATV lineup was considerably expanded with the Outlander Electric, powered by the modular Rotax E-Power unit shared across our motorcycle and snowmobile platforms, the Outlander Max 6x6, engineered for maximum durability and capability, and more. Finally, our three-wheel vehicle lineup was refreshed with new modern colours and refined product offerings.
In seasonal products, our industry-leading Ski-Doo and Lynx snowmobile lineups introduced enhanced versatility,
functionality and connectivity features across 2026 models. Sea-Doo further elevated the riding experience with advanced connectivity features on its PWC lineup and higher-powered engines on certain Switch pontoon models. More information about our product lines is available starting on page 8.
1 See "Non-IFRS Measures" section on page 53.
2 For the period of October 1, 2025 until January 31, 2026.
3