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9
 

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations
(“MD&A”) should be read together with the audited consolidated nancial statements and the
accompanying notes (the “Consolidated Financial Statements”) of Research In Motion Limited (“RIM” or
the “Company”) for the scal year ended March 4, 2006. The Consolidated Financial Statements have
been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”).
All nancial information herein is presented in United States dollars, except for certain nancial information
contained in tables which is expressed in thousands of United States dollars, and as otherwise indicated.
RIM has prepared the MD&A with reference to National Instrument 51-102 “Continuous Disclosure
Obligations” of the Canadian Securities Administrators. This MD&A provides information for the scal
year ended March 4, 2006 and up to and including May 10, 2006.
Additional information about the Company, including the Company’s Annual Information Form, can be
found on SEDAR at www.sedar.com and on the U.S. Securities and Exchange Commission’s (“SEC”) website
at www.sec.gov.
Special Note Regarding Forward-Looking Statements
This MD&A contains forward-looking statements within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities laws, including statements relating to:
• the Company’s expectations regarding the average selling price (“ASP”) of its BlackBerry devices
and the monthly average revenue per unit (“ARPU”) for service;
• the Company’s estimate regarding revenue sensitivity for the effect of a change in ASP on its
device revenue;
• the Company’s estimates regarding earnings sensitivity relating to warranty expense;
• the Company’s estimates of purchase obligations and other contractual commitments; and
• the Company’s expectations with respect to the sufciency of its nancial resources.
The words “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend”, “believe”, “plan” and
similar expressions are intended to identify forward-looking statements. Forward-looking statements
are based on estimates and assumptions made by RIM in light of its experience and its perception of
historical trends, current conditions and expected future developments, as well as other factors that
RIM believes are appropriate in the circumstances. Many factors could cause RIM’s actual results,
performance or achievements to differ materially from those expressed or implied by the forward-looking
statements, including, without limitation, the following factors, which are discussed in greater detail in
the “Risk Factors” section of RIM’s Annual Information Form, which is included in RIM’s Annual Report
on Form 40-F (copies of which lings may be obtained at www.sedar.com and www.sec.gov):
• third-party claims for infringement of intellectual property rights by RIM, and the outcome of any
litigation with respect thereto;
• RIM’s ability to successfully obtain patent or other proprietary or statutory protection for its
technologies and products;
• RIM’s ability to obtain rights to use software or components supplied by third parties;
• RIM’s ability to enhance current products and develop and introduce new products;