POLARIS INDUSTRIES INC.

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ANALYST & INVESTOR MEETING

Europe, Middle East, Africa

Matt Homan, V.P. – EMEA and Small Vehicles July 30, 2013

Agenda EMEA Business Overview and Competitive Landscape EMEA 2013 Objectives, Results and Outlook EMEA New Product Focus EMEA Future

Analyst Meeting July 2013

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Polaris EMEA Market Defined Western Europe

Growth Markets

France, Scandinavia, Germany, Italy, etc.

2013 % EMEA

70%

Russia, Middle East, Africa, Eastern, Europe 30%

2008 % EMEA

80%

20%

Distribution

Subsidiary / Distributor

100% Distributor

# of Dealer / Distributors

600 Dealers and 30 Distributors (Approximate)

Strategy

Gain Share

Definition

Drive Growth

EMEA = 2 Distinct Markets: Western Europe & Growth Markets Analyst Meeting July 2013

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Polaris EMEA Customer Usage Northern Europe: Primarily utility ORV market and strong snowmobile market. Good motorcycle opportunity.

Russia: Strong recreation ORV market; Strong utility snow market

Middle East: Southern Europe: Strong recreation ORV market: Growing utility ORV market; Good motorcycle opportunity

Primarily recreation ORV market

Africa: Combination of utility and recreation ORV market – Smaller market today with potential

Market Usage Balanced Between Utility and Recreation Analyst Meeting July 2013

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Polaris EMEA Business Defined Polaris EMEA Sales by Segment 2009-2012 SV

Motorcycles Motorcycles

Motorcycles

Snow

Snow

Snow

Snow SxS

SxS

Motorcycles

EMEA Breakdown ATV 47% of EMEA Down from 65% in 2009

SxS 18% of EMEA Up from 13% in 2009

SxS

SxS

Snow 25% of EMEA Up from 19% in 2009 ATV

ATV

ATV

ATV

Motorcycles 6% of EMEA Up from 3% in 2009 2009

2010

2011

2012

Small Vehicles 4% of EMEA Up from 0% in 2009

Continued Growth in Business – Shift Away from ATVs Analyst Meeting July 2013

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Polaris Growth Markets Overview Today

Opportunity

Russia

Big utility snow market Strong recreation market Excellent growth Polaris strong ORV Polaris opportunity in snow

Expand into utility Snow market share Value products Motorcycles

Middle East

Performance market Primarily UAE Polaris clear leader

Market expansion Build utility market Motorcycle share

Africa

Small market today Primarily Southern Africa Mixture of recreation/work

Value products Geographic expansion Expand as markets emerge

Excellent Growth Markets Performance – Growth Prospects Strong Analyst Meeting July 2013

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Western Europe Industry Trends Industry Sales by Product 2009-2012

2013 YTD

(W. Europe Only)

ORV Snowmobiles Motorcycles*

Down double digits Up single digits Down single digits

*Motorcycles heavy cruisers/touring only

ORV

Solid Market Performance 2009 – 2011

ORV

ORV

ORV

Motorcycles Snowmobiles

Motorcycles Snowmobiles

Motorcycles Snowmobiles

Markets Weaker Since 2012 – Euro Crisis

Motorcycles

Polaris Outperforming in All Markets

Snowmobiles

Snow Market Remains Strong 2009

2010

2011

2012

Markets Improved 2009 to 2011 – Weak in 2012/2013 With Crisis Analyst Meeting July 2013

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EMEA Competitive Overview (W. Europe) ORV Share Company

Snowmobile Share

Trend

Company

Motorcycle Share*

Trend

Company

#1

Polaris

#1

Lynx/Ski-Doo

#1

HD

#2

Kymco

#2

Polaris

#2

BMW

#3

BRP

#3

Yamaha

#3

Honda

#4

Yamaha

#4

Arctic Cat

#4

Triumph

#5

TGB

#5

Victory

#6

Honda

#6

Suzuki

Trend

* Share of heavy cruisers/touring only

Polaris #1 and growing

BRP #1 and strong

HD strong in 2013

Asian players strong

Polaris #2

Victory continues to grow

Market weak 2013

Significant share gains

Market soft in 2013

Positioned well for MY14

ORV #1 and Share Gains in Snow and Motorcycles Analyst Meeting July 2013

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Polaris EMEA 1H Objectives / Results 2013 1H Objective Deliver Revenue Growth in Difficult Economy Gain Share – ORV, Motorcycles, Snow Continue to Improve Goupil

1H 2013 Results Up Double Digits Ahead of plan. Up low single digits w/o Aixam.

Strong Gains in 1H Gained share in all businesses.

Strong Growth / Margin Expansion On plan or ahead of plan on key metrics.

Integrate Aixam Acquisition

Acquisition on Track Performing as expected.

Execute Major Operations Transformation

Distribution Center & Poland On-Track Fill rates improved / Poland Plan in place.

Solid 1H in Challenging Economy Analyst Meeting July 2013

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EMEA Operations Update European Manufacturing Facility Opens 2H 2014

Business Case:

Volume and cost savings justify investment

Location:

Opole, Poland – strong labor pool, logistics lines

Products:

ATVs and side-by-side vehicles

Size/Employees:

345,000 Sq/Ft

Timing:

Start limited production in 2H 2014

Progress to Date:

Project on plan

Solid 1H in Challenging Economy Analyst Meeting July 2013

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Polaris EMEA 2013 Outlook 2013 Objective Revenue

2013 Outlook

2013 Comments

Approx. $430M

Expect Growth Approaching 30%

Margins

Mid-single-digit growth w/o Aixam

Expect Solid Margin Expansion mix, currency, pricing

Op Profit

Op Profit Ahead of Plan Mix, volume, and market share

Note: 2013 Outlook Includes Aixam

Expect markets to remain challenged throughout 2013 Expect to outperform in 2H of 2013 vs. market Revenue growth expected in single-digit range w/o Aixam

Forecasting Solid Growth and Margin Expansion in 2013 Analyst Meeting July 2013

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NEW! ORV Product News NEW! Sportsman 570

NEW! RZR 1000 XP

NEW! RANGER 570

Sportsman 570 – Big News in our largest segment RZR 1000 XP – big news for Middle East rec markets RANGER 570 – Mid-Size = #1 Ranger growth opportunity Big News in ORV for EMEA Analyst Meeting July 2013

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NEW! Victory Product News NEW! Hammer S LE

NEW! Victory Judge

Hammer S – Limited Edition for Europe Gloss Pearl paint with black engine, exhaust and trim Judge foot position and ignition

Judge – Customized with European style Custom side covers Ride and look already well received in Europe

Additional big pricing news on Jackpot and Highball News Tailored for European Market Analyst Meeting July 2013

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Significant Excitement in Europe

EMEA Indian Launch Plan Generate Buzz in Europe

War bonnet tease Engine Tease Sturgis Invite Pricing launch – big change

Drive Awareness in Europe

80 dealers in DC Top 30 press at Sturgis FAAK Austria in September EICMA Italy in November Paris MC Show in December

Ready Dealers for Launch

60 Dealers signed up today 100+ by Q1 Significant investment Commitment to PG&A and volume

Indian Launch = Big Opportunity in Europe – Off to Great Start Analyst Meeting July 2013

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EMEA Vision 2018 EMEA Strategy We will build our existing EMEA powersports business with product & distribution innovation, we will transform EMEA operations to enable higher sales/profits/tax potential, and we will grow EMEA rapidly by diversifying to reach new segments/customers/markets. BUILD Existing Business Grow Western Europe with product innovation and expanded distribution Rapidly grow in Growth Markets with new products and channel expansion

TRANSFORM Operations Leverage EMEA operations to drive significant margin expansion Structure EMEA with Swiss HQ to leverage tax opportunity

GROW Rapidly and Enter New Spaces Develop products for EMEA – core and beyond Acquire new businesses in adjacent markets

$1B EMEA Business in 2018 Analyst Meeting July 2013

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EMEA Summary – Progress Towards Plan

BUILD Existing Business Share gains and solid growth in challenged economy

TRANSFORM Operations European distribution center and Poland on-track

GROW Rapidly and Enter New Spaces Aixam and Goupil acquisitions on track

EMEA – Winning Competitive Battle Today and In Future Analyst Meeting July 2013

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Q&A POLARIS INDUSTRIES INC.

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ANALYST & INVESTOR MEETING

Matt Homan V.P. – EMEA and Small Vehicles July 30, 2013