Polaris Industries Investor Presentation — July 2020

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Second Quarter 2020 Earnings Results

July 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 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 the

severity and duration of the COVID- 19 pandemic and the resulting impact on the Company’s business and the global economy; the Co mpany’s ability to successfully

implement its manufacturing operations expansion and supply chain initiatives, product offerings, promotional activities and pricing strategies by competitors; economic

conditions that impact consumer spending; disruptions in manufacturing facilities; acquisition integration costs; product rec alls, warranty expenses; impact of changes in

Polaris stock price on incentive compensation plan costs; foreign currency exchange rate fluctuations; environmental and prod uctsafety 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 p olicy; relationships with dealers and suppliers; and

the general overall economic, social and political environment. Investors are also directed to consider other risks and uncer tainties discussed in documents filed by the

Company with the Securities and Exchange Commission. The Company does not undertake any duty to any person to provide updates toits 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 re tail sales, and other retail sales data

sources related to Polaris and the powersports industry, and this information is subject to revision. Retail sales references tototal 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 com parisons of past and present operating