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BRP ANNOUNCES THE RENEWAL OF ITS NORMAL COURSE ISSUER BID

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BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has received TSX approval to renew its normal course issuer bid (NCIB) to purchase and cancel up to 3,331,852 subordinate voting shares between December 10, 2024, and December 9, 2025. This represents 10% of the public float of 33,318,520 shares as of December 4, 2024.

The company can purchase daily up to 57,248 shares through TSX, representing 25% of the average daily trading volume. Under the previous NCIB that expired December 4, 2024, BRP purchased 3,231,999 shares at an average price of $90.76. The Board believes this share repurchase program represents an appropriate use of available cash to increase shareholder value.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) ha ricevuto l'approvazione dalla TSX per rinnovare il suo normale programma di acquisto di azioni (NCIB) per acquistare e annullare fino a 3.331.852 azioni con diritto di voto subordinato tra il 10 dicembre 2024 e il 9 dicembre 2025. Questo rappresenta il 10% del flottante pubblico di 33.318.520 azioni al 4 dicembre 2024.

L'azienda può acquistare fino a 57.248 azioni al giorno attraverso la TSX, corrispondente al 25% del volume medio di scambio giornaliero. Nell'ambito del precedente NCIB scaduto il 4 dicembre 2024, BRP ha acquistato 3.231.999 azioni a un prezzo medio di $90.76. Il Consiglio ritiene che questo programma di riacquisto di azioni rappresenti un uso appropriato della liquidità disponibile per aumentare il valore per gli azionisti.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) ha recibido la aprobación de la TSX para renovar su oferta pública normal de compra de acciones (NCIB) para comprar y cancelar hasta 3,331,852 acciones con derecho a voto subordinado entre el 10 de diciembre de 2024 y el 9 de diciembre de 2025. Esto representa el 10% del flotante público de 33,318,520 acciones al 4 de diciembre de 2024.

La empresa puede comprar hasta 57,248 acciones diariamente a través de la TSX, lo que representa el 25% del volumen de negociación diario promedio. Bajo la anterior NCIB que expiró el 4 de diciembre de 2024, BRP compró 3,231,999 acciones a un precio promedio de $90.76. La Junta cree que este programa de recompra de acciones representa un uso adecuado del efectivo disponible para aumentar el valor para los accionistas.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO)는 2024년 12월 10일부터 2025년 12월 9일 사이에 3,331,852주에 해당하는 보통주를 구매하고 취소하기 위한 정상적인 자산 매입 제안(NCIB) 갱신에 대해 TSX의 승인을 받았습니다. 이는 2024년 12월 4일 기준으로 33,318,520주의 공모 주식에서 10%를 차지합니다.

회사는 TSX를 통해 하루 최대 57,248주를 구매할 수 있으며, 이는 평균 일일 거래량의 25%에 해당합니다. 2024년 12월 4일 만료된 이전 NCIB에 따라 BRP는 평균 가격 $90.76로 3,231,999주를 구매했습니다. 이사회는 주식 재매입 프로그램이 주주 가치를 높이기 위해 사용 가능한 현금을 적절하게 활용하는 것이라고 믿고 있습니다.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) a reçu l'approbation de la TSX pour renouveler son offre publique de rachat d'actions normale (NCIB) visant à acheter et annuler jusqu'à 3 331 852 actions avec droit de vote subordonné entre le 10 décembre 2024 et le 9 décembre 2025. Cela représente 10 % de la flotte publique de 33 318 520 actions au 4 décembre 2024.

L'entreprise peut acheter jusqu'à 57 248 actions par jour via la TSX, soit 25 % du volume moyen de transactions quotidiennes. Dans le cadre de la précédente NCIB, qui a expiré le 4 décembre 2024, BRP a acheté 3 231 999 actions à un prix moyen de 90,76 $. Le Conseil pense que ce programme de rachat d'actions représente une utilisation appropriée des liquidités disponibles pour augmenter la valeur pour les actionnaires.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) hat die Genehmigung der TSX erhalten, um sein normales Rückkaufprogramm (NCIB) zu erneuern und bis zu 3.331.852 Stammaktien zwischen dem 10. Dezember 2024 und dem 9. Dezember 2025 zu erwerben und zu annullieren. Dies entspricht 10% des öffentlichen Handelsbestands von 33.318.520 Aktien zum 4. Dezember 2024.

Das Unternehmen kann täglich bis zu 57.248 Aktien über die TSX kaufen, was 25% des durchschnittlichen täglichen Handelsvolumens entspricht. Im Rahmen des vorherigen, am 4. Dezember 2024 abgelaufenen NCIB hat BRP 3.231.999 Aktien zu einem Durchschnittspreis von $90.76 erworben. Der Vorstand ist der Ansicht, dass dieses Aktienrückkaufprogramm eine angemessene Verwendung der verfügbaren liquiden Mittel darstellt, um den Wert für die Aktionäre zu erhöhen.

Positive
  • Authorization to repurchase 10% of public float (3,331,852 shares)
  • Previous NCIB successfully completed with 3,231,999 shares purchased
  • Implementation of automatic share purchase plan (APP) for consistent buybacks
Negative
  • None.

Insights

The renewal of BRP's share buyback program signals a strong commitment to returning value to shareholders. The company is authorized to repurchase up to 3,331,852 shares, representing 10% of the public float, at market prices. The previous program was fully utilized with purchases of 3.23M shares at an average price of $90.76, demonstrating consistent execution of capital return strategies.

The implementation of an automatic share purchase plan (APP) is particularly strategic, allowing continued buybacks during blackout periods. This mechanism provides steady support for the stock while ensuring regulatory compliance. With the stock trading at current levels, this renewed authorization represents a potential investment of over $300 million, highlighting management's confidence in the company's financial position and intrinsic value.

The timing and structure of this buyback renewal reflect careful market considerations. The daily purchase limit of 57,248 shares provides sufficient liquidity without disrupting normal trading patterns. The flexibility to execute block trades weekly adds strategic optionality for larger acquisitions when opportunities arise. The weighted average price of $90.76 from the previous program suggests disciplined execution and value-conscious purchasing.

The provision for potential discount purchases through private agreements could create additional value opportunities. This comprehensive approach to share repurchases, combined with the APP mechanism starting January 24, 2025, indicates a well-planned long-term commitment to capital management that should provide consistent support for the stock.

VALCOURT, QC, Dec. 6, 2024 /PRNewswire/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announces today that the Toronto Stock Exchange (the "TSX") has approved the renewal of its normal course issuer bid ("NCIB") to purchase for cancellation up to 3,331,852 subordinate voting shares over the twelve-month period commencing on December 10, 2024 and ending no later than December 9, 2025, representing approximately 10% of the public float of 33,318,520 subordinate voting shares as at December 4, 2024. As at December 4, 2024, 34,490,799 subordinate voting shares were issued and outstanding.

The NCIB will be conducted through the facilities of the TSX or alternative Canadian trading systems, if eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market transactions or such other means as a securities regulatory authority may permit, including pre-arranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority.

Under TSX rules, BRP will be allowed to purchase daily, through the facilities of the TSX, a maximum of 57,248 subordinate voting shares representing 25% of the average daily trading volume of 228,995, as calculated per the TSX rules for the most recently completed six calendar months. In addition, BRP may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of subordinate voting shares not directly or indirectly owned by insiders of BRP, in accordance with TSX rules. The subordinate voting shares purchased pursuant to the NCIB will be cancelled.

The price to be paid by BRP for any subordinate voting share will be the market price at the time of acquisition, plus brokerage fees. In the event that BRP purchases subordinate voting shares by pre-arranged crosses, exempt offers, block purchases or private agreements, the purchase price of the subordinate voting shares may be, and will be in the case of purchases by private agreements, at a discount to the market price of the subordinate voting shares at the time of the acquisition.

In connection with this NCIB, BRP has entered into an automatic share purchase plan (the "APP") with a designated broker to allow for the purchase of subordinate voting shares under the NCIB at times when BRP would ordinarily not be permitted to purchase shares due to regulatory restrictions or self-imposed blackout periods. Pursuant to the APP, before entering into a blackout period, BRP may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the APP. Such purchases will be determined by the broker in its sole discretion based on parameters established by BRP prior to the blackout period in accordance with the rules of the TSX, applicable Canadian and United States securities laws and the terms of the APP. The APP has been pre-cleared by the TSX and will be implemented effective January 24, 2025. Outside of pre-determined blackout periods, subordinate voting shares will be purchased under the NCIB based on management's discretion, in compliance with TSX rules and applicable securities laws. All repurchases made under the APP will be included in computing the number of subordinate voting shares purchased under the NCIB.

Under the NCIB that expired on December 4, 2024, BRP purchased 3,231,999 subordinate voting shares at a volume weighted average price of $90.76. Purchases were effected through the facilities of the TSX and at such times and in such numbers as determined by BRP in accordance with the policies and rules of the TSX. Purchases were also made through alternative eligible trading systems. Between December 5, 2023 and December 4, 2024, BRP was allowed to purchase a total of 3,231,999 subordinate voting shares, representing approximately 10% of the public float of 32,319,996 subordinate voting shares as at November 28, 2023.

The Board of Directors of BRP believes that the purchase by BRP of its subordinate voting shares could represent an appropriate and desirable use of its available cash to increase shareholder value.

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. Headquartered in Quebec, Canada, BRP has annual sales of CA$10.4 billion from over 130 countries and employs close to 20,000 driven, resourceful people as of January 31, 2024.

www.brp.com
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Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements included in this release, including, but not limited to, statements relating to the renewal of the normal course issuer bid and potential purchases of subordinate voting shares by BRP thereunder, 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 2024, the management's discussion and analysis and interim financial statements for the first three quarters of its fiscal year 2025 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.

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SOURCE BRP Inc.

FAQ

How many shares can BRP (DOOO) repurchase under its new NCIB program?

BRP can repurchase up to 3,331,852 subordinate voting shares, representing 10% of the public float, over the twelve-month period from December 10, 2024 to December 9, 2025.

What was the average price paid in BRP's (DOOO) previous share buyback program?

Under the previous NCIB that expired December 4, 2024, BRP purchased shares at a volume weighted average price of $90.76.

When does BRP's (DOOO) new share buyback program start and end?

The new NCIB program starts on December 10, 2024, and ends on December 9, 2025.

What is the daily purchase limit for BRP (DOOO) under the new NCIB?

BRP can purchase up to 57,248 subordinate voting shares daily through the TSX, representing 25% of the average daily trading volume.

BRP Inc. Common Subordinate Voting Shares

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