Polaris Industries Investor Presentation — October 2019

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EARNINGS RESULTSP O L A R I S I N C .

Except for historical information contained herein, the matters set forth in this presentation, including management’s expect ations regarding 2019 and 2020

future sales, shipments, net income, and net income per share, future cash flows and capital requirements, operational initia tives, tariffs, currency fluctuations,

interest rates, and commodity costs, are forward -looking statements that involve certain risks and uncertainties that could caus e actual results to differ

materially from those forward -looking statements. Potential risks and uncertainties include such factors as the Company’s abili ty to successfully implement its

manufacturing operations expansion and supply chain initiatives, product offerings, promotional activities and pricing strate gies 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; environment al and product safety

regulatory activity; effects of weather; commodity costs; freight and tariff costs (tariff relief or ability to mitigate tariffs); changes to international trade policies

and agreements; uninsured product liability claims; uncertainty in the retail and wholesale credit markets; performance of af filiate 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 Securities and Exchange Commission. The Company does notundertake 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 co ncerning 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 me aningful comparisons of