Polaris Industries Investor Presentation — May 2018

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POLARIS INDUSTRIES INC. 2 PII -Boat Holdings 5/30/18Except for historical information contained herein, the matters set forth in this presentation, including

management’s expectations regarding the effective purchase price, financing of the purchase price, timing of

closing, synergies and other benefits of the acquisition, and future performance of Boat Holdings, LLC and the

combined companies 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

factors such as the proposed transaction may not be completed, or completed within the expected timeframe;

costs relating to the proposed transaction may be greater than expected; the possibility that a governmental entity

may prohibit, delay or refuse to grant a necessary regulatory approval in connection with the proposed transaction;

anticipated tax benefits may not be achieved by the Company; problems may arise in integrating the businesses of

the two companies and the integration may not be successful; the combined companies may be unable to achieve

the anticipated synergies or those benefits may take longer to realize than expected; the businesses of one or both

companies may suffer as a result of uncertainties surrounding the proposed transaction including disruption of

relationships with customers, employees or suppliers; increased competition and its effect on pricing; the

combined companies may not perform as expected following the closing; and other risks beyond the control of

either party. Investors are also directed to consider other risks and uncertainties 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 to its forward -looking statements.

FORWARD LOOKING STATEMENTS AND IMPORTANT DISCLOSURES

2 PII -Boat Holdings 5/30/18Transaction

Chairman and Chief Executive Officer

3TRANSACTION OVERVIEW

4 PII -Boat Holdings 5/30/18Acquiring Boat Holdings, LLC (“Boat Holdings”); expect Q3’18 close

#1 manufacturer of pontoon boats

~$560 million in sales (FY 2017)

$805 million purchase price; ~9.5 EBITDA, net of NPV of estimated future tax benefits

Immediately accretive to EPS in 2018

Strong, experienced leadership team with profitable growth focus

Boat Holdings to continue as distinct business

Strategically aligned with Powersports leadership