Polaris Industries Investor Presentation — October 2022

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Earnings Presentation

Q3'22 Earnings 10/25/22 2Safe Harbor & Non -GAAP Measures

Except forhistorical information contained herein, thematters setforth inthispresentation areforward -looking statements thatinvolve certain risks anduncertainties thatcould cause

actual results todiffer materially from those forward -looking statements .Potential risks anduncertainties include such factors astheCompany’s ability tosuccessfully source necessary

parts andmaterials onatimely basis;theability oftheCompany tomanufacture anddeliver products todealers tomeet demand ;theCompany’s ability toidentify andmeet optimal dealer

inventory levels ;theCompany’s ability toaccurately forecast andsustain consumer demand ;theCompany’s ability tomitigate increasing input costs through pricing orother measures ;the

Company’s ability tosuccessfully implement itsmanufacturing operations strategy andsupply chain initiatives ;product offerings, promotional activities andpricing strategies bycompetitors

thatmake ourproducts lessattractive toconsumers ;theCompany’s ability tostrategically invest ininnovation andnewproducts, including ascompared toourcompetitors ;economic

conditions thatimpact consumer spending, including recessionary conditions ;theseverity andduration oftheCOVID -19pandemic andtheresulting impact ontheCompany’s business,

supply chain, andtheglobal economy ;disruptions inmanufacturing facilities; product recalls and/or warranty expenses ;product rework costs;impact ofchanges inPolaris stock price on

incentive compensation plancosts;foreign currency exchange ratefluctuations ;environmental andproduct safety regulatory activity ;effects ofweather ;commodity costs;freight andtariff

costs (tariff relief orability tomitigate tariffs); changes tointernational trade policies andagreements ;uninsured product liability claims andother litigation expenses incurred duetothe

nature oftheCompany’s business ;uncertainty intheconsumer retail andwholesale credit markets ;performance ofaffiliate partners ;changes intaxpolicy ;relationships withdealers and

suppliers; andthegeneral overall global economic, social andpolitical environment .Investors arealsodirected toconsider other risksanduncertainties discussed indocuments filedbythe

Company withtheSecurities andExchange Commission .TheCompany does notundertake anydutytoanyperson toprovide updates toitsforward -looking statements .

Thedata source forretail sales figures included inthispresentation isregistration information provided byPolaris dealers inNorth America andEurope compiled bytheCompany or

Company estimates andother industry datasources .TheCompany relies oninformation thatitsdealers orother third parties supply concerning retail sales, andother retail sales data