Polaris Industries Investor Presentation — January 2017

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Fourth Quarter & Full Year 2016

January 24, 2017POLARIS INDUSTRIES INC. Richard Edwards

Director of Investor Relations

Fourth Quarter & Full Year 2016

January 24, 2017POLARIS INDUSTRIES INC.

Q4 & FY'16 Earnings 2Except for historical information contained herein, the matters set forth in this document, including but not limited to mana gement’s expectations regarding

future sales, shipments, margins, currencies, net income and cash flow, the opportunities for expansion and diversification of the Company’s business and the

Company’s guidance on earnings per share are forward- looking statements that involve certain risks and uncertainties that could cause actual results to differ

materially from those forward -looking statements. Potential risks and uncertainties include such factors as product offerings, promotional activities and

pricing strategies by competitors; manufacturing operation expansion initiatives; acquisition integration costs; product reca lls; warranty expenses; foreign

currency exchange rate fluctuations; environmental and product safety regulatory activity; effects of weather; commodity cost s; uninsured product liability

claims; uncertainty in the retail and wholesale credit markets; performance of affiliate partners; changes in tax policy and ove rall economic conditions,

including inflation, consumer confidence and spending and relationships with dealers and suppliers. Investors are also directed to consider other risks and

uncertainties discussed in our 2015 annual report and Form 10- K and subsequent Form 10 -Qs filed by the Company with the Securiti es 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 and compiled by

the Company or Company estimates. The Company must rely on information that its dealers supply concerning retail sales, and other retail sales data sources

and this information is subject to revision.

Non-GAAP Measures -Constant Currency Reporting. This presentation includes information regarding the Company’s 2016 actual results and 2017 full year

expectations on a constant currency basis, which is a non -GAAP measure, as well as on a GAAP basis. For purpose of comparison, the results on a constant

currency basis uses the respective prior year exchange rates for the comparative period to enhance the visibility of the underly ing business trends, excluding

the impact of translation arising from foreign currency exchange rate fluctuations .