SCHEDULE: Bank of Nova Scotia Discloses 2.18% Passive Stake in BRP Inc.

Bank of Nova Scotia has filed an amended Schedule 13G, reporting a 2.178% beneficial ownership stake in BRP Inc.'s Common Stock as of June 30, 2025.

Summary

• Bank of Nova Scotia, a Canadian financial institution, has filed an Amendment No. 1 to Schedule 13G regarding its beneficial ownership in BRP Inc.
• The filing indicates that Bank of Nova Scotia beneficially owns 751,649 shares of BRP Inc. Common Stock.
• This ownership represents 2.178% of the class of BRP Inc.'s Common Stock.
• The shares are held with sole voting power and sole dispositive power by Bank of Nova Scotia.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of BRP Inc.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership, indicating a neutral sentiment as it does not contain performance data, strategic changes, or forward-looking statements that would imply positive or negative sentiment.

Positives

• Not Applicable This filing is a disclosure of beneficial ownership and does not contain information on company performance or positive operational developments.

Negatives

• Not Applicable This filing is a disclosure of beneficial ownership and does not contain information on company performance or negative operational developments.

Risks

• Not Applicable This Schedule 13G filing primarily discloses beneficial ownership and does not detail specific risks related to BRP Inc.'s operations or financial health.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not provide any forward-looking statements or guidance regarding BRP Inc.'s future performance or Bank of Nova Scotia's investment strategy beyond the passive nature of the holding.

Management Comments

• Bank of Nova Scotia certifies that the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This filing represents a routine disclosure by a financial institution of a passive investment in a publicly traded company, BRP Inc., which operates in the powersports and marine industries. Such disclosures are standard for institutional investors holding significant, but non-controlling, stakes.

Comparison to Industry Standards

• Not Applicable This filing is a beneficial ownership disclosure and does not contain performance metrics or operational results that can be compared to industry standards or specific comparable companies/projects.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's passive stake in BRP Inc., confirming that a large financial institution holds a portion of the company's common stock without intent to influence control.

Next Steps

• Bank of Nova Scotia will continue to file amendments to this Schedule 13G as required by SEC regulations, particularly if there are material changes to its beneficial ownership or if its ownership exceeds 5% and its intent changes to active.

Key Dates

Keywords

BRP Inc., Bank of Nova Scotia, Schedule 13G, Beneficial Ownership, Common Stock, Financial Institution, Passive Investment, SEC Filing