Polaris Industries Investor Presentation — April 2022

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Earnings Presentation

Q1'22 Earnings 4/26/22 2Safe Harbor & Non -GAAP Measures

Except forhistorical information contained herein, thematters setforth inthispresentation anddiscussed inthecorresponding earnings callare“forward -looking statements” intended to

qualify forthesafeharbor provisions ofthePrivate Securities Litigation Reform Actof1995.These forward -looking statements cangenerally beidentified assuch because thecontext of

thestatement willinclude words such asweorourmanagement “believes,” “should,” “anticipates,” “expects,” “estimates” orwords ofsimilar import .Similarly, statements thatdescribe

ourfuture plans ortrends, objectives orgoals, such asfuture sales, shipments, inventory levels, consumer demand, netincome, netincome pershare, future cash flows andcapital

requirements, operational initiatives, pricing actions, tariffs, currency fluctuations, interest rates, andcommodity costs, areforward -looking statements thatinvolve certain risks and

uncertainties thatcould cause actual results todiffer materially from those forward -looking statements .Potential risksanduncertainties include such factors astheseverity andduration of

theCOVID -19pandemic andtheresulting impact ontheCompany’s business, supply chain, andtheglobal economy ;theCompany’s ability tosuccessfully implement itsmanufacturing

operations expansion andsupply chain initiatives ;theCompany’s ability tosuccessfully source necessary parts andmaterials andtheability oftheCompany tomanufacture anddeliver

products todealers tomeet increasing demand andtobring dealer inventory levels back tooptimal levels ;thecontinuation oftheincreasing consumer demand fortheCompany’s

products ;product offerings, promotional activities andpricing strategies bycompetitors ;economic conditions thatimpact consumer spending ;disruptions inmanufacturing facilities ;

product recalls and/or warranty expenses ;product rework costs;impact ofchanges inPolaris stock price onincentive compensation plan costs;foreign currency exchange rate

fluctuations ;environmental andproduct safety regulatory activity ;effects ofweather ;commodity costs;freight andtariff costs (tariff relief orability tomitigate tariffs); changes to

international trade policies andagreements ;uninsured product liability claims ;uncertainty intheretail andwholesale credit markets ;performance ofaffiliate partners ;changes intax

policy ;relationships withdealers andsuppliers ;andthegeneral overall economic, social andpolitical environment .Investors arealsodirected toconsider other risks anduncertainties

discussed indocuments filedbytheCompany withtheSecurities andExchange Commission .TheCompany does notundertake anydutytoanyperson toprovide updates toitsforward -