Exhibit 99.2 BRP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE THREE- AND SIX-MONTH PERIODS ENDED JULY 31, 2025 BRP Inc. Management's Discussion and Analysis 2 Basis of Presentation The following MD&A provides information concerning financial position and results of operations of BRP Inc. (the "Company" or "BRP") for the second quarter of the fiscal year ending January 31, 2026. This MD&A should be read in conjunction with the unaudited condensed consolidated interim financial statements for the three- ...