Polaris Industries Investor Presentation — April 2018

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First Quarter 2018 Earnings Results

POLARIS INDUSTRIES INC. SAFE HARBOR & NON

2 Q1'18 EarningsExcept for historical information contained herein, the matters set forth in this presentation, including management’s expect ations regarding 2018

future sales, shipments, net income, and net income per share, operational initiatives and impact of tax reform are forward -looking statements that

involve certain risks and uncertainties that could cause actual results to differ materially from those forward -looking statemen ts. Potential risks and

uncertainties include such factors as the Company’s ability to successfully implement its manufacturing operations expansion initiatives; product

offerings; promotional activities and pricing strategies by competitors; economic conditions that impact consumer spending; a cquisition integration

costs; product recalls, warranty expenses; impact of changes in Polaris stock price on incentive compensation plan costs; for eign currency

exchange rate fluctuations; environmental and product safety regulatory activity; effects of weather; commodity costs; freigh t and tariff costs;

uninsured product liability claims; uncertainty in the retail and wholesale credit markets; performance of affiliate partners ; changes in tax policy and

overall economic conditions, including inflation, consumer confidence and spending and relationships with dealers and supplie rs.Investors are

also directed to consider other risks and uncertainties discussed in documents filed by the Company with the Securities and E xchange

Commission. The Company does not undertake any duty to any person to provide updates to its forward -looking statements.

This presentation contains certain non -GAAP financial measures, consisting of “Adjusted” sales, gross profit, income before taxe s, net income and

net income per diluted share as measures of our operating performance. Management believes these measures may be useful in pe rforming

meaningful comparisons of past and present operating results, to understand the performance of its ongoing operations and how management

views the business. Reconciliations of Adjusted non -GAAP measures to reported GAAP measures are included in the Appendix of this

presentation. These measures, however, should not be construed as an alternative to any other measure of performance determin ed in accordance

with GAAP. Scott W. Wine, Chairman & CEO

First Quarter 2018 Earnings Results

POLARIS INDUSTRIES INC. FIRST QUARTER 2018 SUMMARY

4 Q1'18 EarningsSolid Start to the Year –Maintaining Full Year Outlook In Spite of Headwinds Financial results exceeded expectations; record first quarter retail sales for ORV