Polaris Industries Investor Presentation — April 2020

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April 28, 2020Except for historical information contained herein, the matters set forth in this presentation, including management’s expect ations regarding the impact of the COVID -19 pandemic and the Company’s

ability to manage the economic environment resulting from the COVID -19 pandemic, are forward -looking statements that involve cer tain risks and uncertainties that could cause actual results to differ

materially from those forward -looking statements. Potential risks and uncertainties include such factors as the severity and du ration of the COVID -19 pandemic and the resulting impact on the

Company’s business and the global economy; the Company’s ability to successfully implement its manufacturing operations expan sion and supply chain initiatives, product offerings, promotional

activities and pricing strategies by competitors; economic conditions that impact consumer spending; disruptions in manufactu ring facilities; acquisition integration costs; product recalls, warranty

expenses; impact of changes in Polaris stock price on incentive compensation plan costs; foreign currency exchange rate fluct uations; environmental and product safety regulatory activity; effects of

weather; commodity costs; freight and tariff costs (tariff relief or ability to mitigate tariffs); changes to international t rade policies and agreements; uninsured product liability claims; uncertainty in the

retail and wholesale credit markets; performance of affiliate partners; changes in tax policy; relationships with dealers and suppliers; and the general overall economic and political environment.

Investors are also directed to consider other risks and uncertainties discussed in documents filed by the Company with the Se curities and Exchange Commission. The Company does not undertake

any duty to any person to provide updates to its forward -looking statements.

The data source for retail sales figures included in this presentation is registration information provided by Polaris dealer s in North America compiled by the Company or Company estimates and other

industry data sources. The Company must rely on information that its dealers supply concerning retail sales, and other retail sales data sources related to Polaris and the powersports industry, and

this information is subject to revision. Retail sales references to total Company retail sales includes only ORV, snowmobiles and motorcycles in North America unless otherwise noted.

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 performing meaningful comparisons of past and pres entoperating results, to understand the performance of its