Polaris investor-meeting-7-26-17

1. 1PII Annual 4-27-17
POLARIS INDUSTRIES INC.
ANALYST & INVESTOR MEETING
JULY 26, 2017

2. Richard Edwards
Director of Investor Relations
ANALYST & INVESTOR MEETING
JULY 26, 2017
POLARIS INDUSTRIES INC.

3. AGENDA – Analyst & Investor Meeting
Thank You for Joining Us!
PII Annual 4-27-17 3
Webcast Link at: ir.polaris.com
PDT Topic Presenter
7:30 am Opening Remarks / Overview Scott Wine, Chairman & CEO
7:40 am PG&A / Aftermarket Steve Eastman & Greg Adler
8:05 am Customer Experience Tim Larson
8:25 am Motorcycles Steve Menneto
8:50 am Global Adjacent Markets Bob Mack
9:05 am International Mike Dougherty
9:20 am Break
9:35 am Snowmobiles Chris Wolf
9:50 am Off-Road Vehicles Matt Homan
10:15 am Global Operations, Eng. & Lean Ken Pucel
10:40 am Closing Comments / Q&A Scott Wine & Mike Speetzen
11:00 am Meeting Ends
7:30 AM – 11:00 PM
Pacific Time
Venetian/Palazzo - Las Vegas
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4. SAFE HARBOR & NON-GAAP MEASURES
4Q2'17 Earnings
Except for historical information contained herein, the matters set forth in this presentation, including management’s expectations regarding 2017
future sales, shipments, net income, and net income per share, and operational initiatives 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 Company’s ability to successfully implement its manufacturing operations expansion initiatives, product offerings, promotional
activities and pricing strategies by competitors; economic conditions that impact consumer spending; acquisition integration costs; product recalls,
warranty expenses; impact of changes in Polaris stock price on incentive compensation plan costs; foreign currency exchange rate fluctuations;
environmental and product safety regulatory activity; effects of weather; commodity costs; uninsured product liability claims; uncertainty in the retail
and wholesale credit markets; performance of affiliate partners; changes in tax policy and overall economic conditions, including inflation, consumer
confidence and spending and relationships with dealers and suppliers. 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. The data source for retail sales figures included in this presentation is registration
information provided by Polaris dealers in North America and compiled by the Company or Company estimates. The Company must rely on
information that its dealers supply concerning retail sales, and other retail sales data sources and this information is subject to revision.
This presentation contains certain non-GAAP financial measures, consisting of “adjusted” sales, gross profit, operating expenses, net income and
net income per diluted share as measures of our operating performance. Management believes these measures may be useful in performing
meaningful comparisons of past and present operating results, to understand the performance of its ongoing operations and how management
views the business. Reconciliations of adjusted non-GAAP measures to reported GAAP measures for Q2 are included on slide 3 and Q2 year-to-
date are included in the appendix contained in this presentation. These measures, however, should not be construed as an alternative to any other
measure of performance determined in accordance with GAAP.

5. Scott W. Wine, Chairman & CEO
ANALYST & INVESTOR MEETING
JULY 26, 2017
POLARIS INDUSTRIES INC.

6. 6PII Annual 4-27-17
POLARIS INDUSTRIES INC.
ANALYST & INVESTOR MEETING
JULY 26, 2017

7. STEVE EASTMAN
President – PG&A & Aftermarket
Analyst & Investor Meeting
July 26, 2017
POLARIS INDUSTRIES INC.

8. FIRST HALF 2017
2Analyst 7-26-17
INITIATIVES AND STRONG EXECUTION DRIVING PROFITABLE GROWTH
CORE PG&A REVENUE-PER-UNIT CONTINUES TO GROW
TAP INTEGRATION & PERFORMANCE ON TRACK
AFTERMARKET PRODUCTS & BRANDS GAINING MOMENTUM
VIP & LEAN DRIVING MARGIN EXPANSION AND PRODUCTIVITY
RETAIL INITIATIVES DRIVING STOCKING & CONVERSION
PG&A

9. 1H 2016 1H 2017
FIRST HALF 2017 RESULTS
1H 2016 1H 2017
SUSTAINED GROWTH ACROSS THE PORTFOLIO
1H 2017 Aftermarket Revenue1H 2017 Core PG&A Revenue
+8% Organic
Additional Commentary
Strong revenue growth across
geographies and segments
North America
International
ORV/Snow
Motorcycles (Victory impact)
Adjacent Markets
Aftermarket Brands
Analyst 7-26-17 3
PG&A
+7% Proforma
Reported:
Up Sigificantly
With TAP

10. DIVERSIFIED PG&A / AFTERMARKET PORTFOLIO
4
Analyst 7-26-17
Strengthen OEM Competitive Advantage
Integrated Product Solutions
Integrated Go-To-Market Approach
Sold Exclusively Through Polaris Dealers
Broaden Consumer Aftermarket Reach
Access Incremental Channels
Gain Enthusiast Brand Loyalty
CORE PG&A PRODUCT LINES
AFTERMARKET BRANDS
CONSUMERSCHANNELS
PG&A
Polaris Dealers
Other Dealers
Aftermarket E-com
Big Box Retail
Distributors / Jobbers
4X4 Retail
Polaris E-com
4

11. POLARIS
ENGINEERED
PG&A
5

12. 2017 FOCUS
6Analyst 7-26-17
INITIATIVES AIMED AT IMPROVING THE CUSTOMER EXPERIENCE
BE EASIER TO
DO BUSINESS
WITH
3
DRIVE RETAIL
DEMAND &
CONVERSION
2
MAXIMIZE
PRODUCT
INNOVATION
& QUALITY
1
PG&A

13. 2017 FOCUS PG&A
CUSTOMER-FOCUSED SOLUTIONS
HIGHEST LEVELS OF INTEGRATION
POLARIS ENGINEERED QUALITY
OVER 400
NEW MY18
ACCESSORIES
Analyst 7-26-17 7

14. 2017 FOCUS
8Analyst 7-26-17
INDUSTRY-LEADING FIT, FINISH, AND EASE OF INSTALLATION
3X better dust protection
Class-leading comfort
Integrated plow mount Plug and Play installation
MAXIMIZE PRODUCT INNOVATION AND QUALITY
PG&A

15. 2017 FOCUS
9Analyst 7-26-17
SELECTIVELY LEVERAGE PROPRIETARY AND 3RD PARTY BRANDS
Innovative tread solutions Adaptive lighting systems Retains ice 30 hours longer
than Yeti
MAXIMIZE PRODUCT INNOVATION AND QUALITY
PG&A

16. Consumer Marketing
Direct Mail Catalogs
Seasonal Promotions
2017 FOCUS PG&A
DRIVE RETAIL DEMAND & CONVERSION
DRIVE RETAIL DEMAND AND CONVERSION
Retail Execution
Retail Sales Specialists
Power Item Leverage
Merchandising Tools
E-Commerce
Product Content / Guides
New Configurator
Over 8 million annual visits
Analyst 7-26-17 10

17. BE EASIER TO DO BUSINESS WITH
2017 FOCUS PG&A
ELIMINATE DEALER DISTRACTIONS – KEEP IT SIMPLE!
Analyst 7-26-17
Sales Process PromotionsOrder Fulfillment
Coupon Redemption
More Impactful Promotions
New Daily Order System
Simplified Freight Policy
SMART refinements
Order Quality Emphasis
Data Analytics / Tools
11

18. AFTERMARKET
BRANDS
12

19. POWERSPORTS AFTERMARKET BRANDS
ACCELERATE GROWTH & PROFITABILITY
1 AMPLIFY BRAND POSITION
STRENGTHEN E-COMMERCE
DRIVE DEALER-DIRECT SALES AND
CUSTOMER / CHANNEL DEVELOPMENT
REDUCE SYSTEM-WIDE COSTS
2
3
4
PG&A
Analyst 7-26-17 13

20. APPAREL CENTER-OF-EXCELLENCE
++
14
PRODUCT DESIGN, QUALITY, COST ADVANTAGES
Analyst 7-26-17

21. TRANSAMERICAN
AUTO PARTS
15

22. INTEGRATION PROGRESS
INTEGRATION PROGRESS ON TRACK
16Analyst 7-26-17
COST
REVENUE
MANUFACTURING – Pro Armor moved to Chula Vista
LOGISTICS – new carrier agreements in place
SOURCING – supplier consolidation nearly complete
OTHER – corporate functions
NEW STORES – accelerated growth plan
UTV SEGMENT – category rollout, upfit packages
OTHER – cross marketing, event coverage & impact

23. BUSINESS PROGRESS
STRONG 1H PERFORMANCE – CONTINUED & SUSTAINABLE GROWTH
17Analyst 7-26-17
RETAIL
SAME STORE SALES – up high single digits
NEW STORES – record store openings
DIRECT
E-COMMERCE – new ATG platform launched
PICK-UP-IN-STORE – up 27% YTD
WHOLESALE
CONSUMER-FACING RESELLERS – sales up low teens
CUSTOMER MIX – brick & mortar outpacing E-com
TMG
PRODUCT DEVELOPMENT – new R&D facility
NEW OEM MODELS – focus on speed-to-market, quality

24. 2017 NEW STORE GROWTH
LARGEST NUMBER OF NEW STORES TO DATE
18
2017 New Stores
Charleston, SC
Brooklyn Park, MN
Cincinnati, OH
Denver, CO
Glendale, AZ
Columbus, OH
Boise, ID
Ogden, UT
Analyst 7-26-17

25. TRANSAMERICAN MANUFACTURING GROUP
STRONG BRAND, R&D, & MANUFACTURING PLATFORM
19Analyst 7-26-17
TOTAL OTD sales
$15M

26. LOOKING FORWARD
20Analyst 7-26-17
MULTIPLE AVENUES FOR SUSTAINED & PROFITABLE GROWTH
COMPLETE TAP INTEGRATION
STRENGTHEN & GROW POLARIS-OWNED BRANDS
DRIVE MULTI-CHANNEL RETAIL DEMAND & CONVERSION
VIP - REDUCE COST & LEVERAGE OPERATIONAL SCALE
ACCELERATE NEW PRODUCT INNOVATION & QUALITY
PG&A

27. 21Analyst 7-26-17
Steve Eastman
President – PG&A & Aftermarket
QUESTIONS?

28. TIM LARSON
Chief Marketing Officer & SVP Customer Experience
Analyst & Investor Meeting
July 26, 2017
POLARIS INDUSTRIES INC.

29. Polaris Customer Experience Transformation
2
Delivering On The Key Moments Of The Customer & Dealer Experience
Analyst 7-26-17
Shop Buy Ride Own
SEAMLESS: DIGITAL TO DEALERSHIP SEAMLESS DELIVERY EXPERIENCE RIDE COMMAND
ENGAGE DIGITALLY DEALERSHIP EXPERIENCE SERVICE & OWNERSHIP

30. Engaging & Earning Customers Digitally
3Analyst 7-26-17
Leveraging Digital To Drive Retail: Engaging Customers Before, During & After Their Dealership Visit
Trade In Estimator
3D Vehicle Configurator
Drives Retail & Profit/Unit
New Digital Experience
Fully Responsive
Driving Leads & Dealer Visits
65% Traffic  Mobile
+143% increase in digital engagements
Facebook, YouTube, Email Opens, Web Traffic
7.6 Million Social Followers

31. Expanding for General & RZR
models & as RC Accessory
Group Ride with Follow the Leader
Integrated Audio and Video Experiences
Powersports Technology Leadership: Be in Command with Ride Command®
Ride Command Expansion & Differentiation
Now Standard on
Roadmaster & Chieftain
Route Importing & Sharing
Customizable Ride Screens
Two-Finger Glove Touch
Free RideCommand APP
iOS & Android Devices
Group Ride with Follow the Leader
300,000 Miles of Trail Maps, 22,000
Riding Areas & 250 Active Clubs
New for MY 18 Slingshot
Turn by Turn Navigation
Customizable, Split View, Rider
Information Screens
Mobile APPs
ORV & Snow
“It's [Ride Command] a useful system that makes the
whole package that much more fun for touring."
Peter J., Cycle World Magazine
“These electronics [Ride Command] will pull more riders from
the [competitor] ranks than any other part of this bike.”
CommonTread-Revzilla
Analyst 7-26-17 4

32. Dealer Profitable Growth
Driving Dealer Profitability: Right Products, Demand, Inventory, Rewards & Retail Processes
5
Cash Flow Retail Experience & SpecialistsRewards
Analyst 7-26-17
60%
Faster
Payments
To Dealers
Inventory Optimization
“With a finite amount of show floor
space, you have to ask yourself, “Is this
going to generate a return, or is it just
going to look pretty?” And I’ll tell you first
hand, it’ll generate a return.”
Polaris Retail Exp. Dealer
RFM
SMART
17% Reduction In Interest Payments

33. Elevating Service & Dealer Support
Driving Service Speed For Customers…Support & Service Profitability For Dealers
6Analyst 7-26-17
Increased Responsiveness
Dealer Training &
Certification In-Field Support & Training (YTD)

34. Ease of Business
Simplifying & Strengthening Dealer Communication & Capabilities
7
Simplified Ordering & Mgmt. Turnkey Lead Mgmt. & Retail ResultsDealer Driven Systems
Analyst 7-26-17

35. Strong Dealership Count Positions
8
Polaris Leadership Position in Key Markets
SxS + ATV Snowmobiles Indian + Slingshot
~1530
~ 750
~ 565
Long Range Plan2016 Year End Actual
Optimizing
opportunity
markets
Sustain
leadership
position
On-Road: fully
penetrate top
markets
Analyst 7-26-17

36. Formula Delivering #1 In Total Dealer Volume & Overall Value
9
Polaris Delivering Strongest Total Dealer Volume & Value
Polaris Dealer Value Proposition:
+ Best WG Innovation, Volume & Demand: Products, Brands, Adv, Promo, Events
+ Best PG&A Innovation, Volume & Demand: Products, Brands, $/unit
+ Strongest Install Base For Post Sale & Repurchase: WG, PG&A, F&I, ESC, Service
+ Inventory Optimization & Order Systems: RFM, SMART
+ Dealer Certification & Business Process Training: MSD, U of Polaris, In-Field Training
+ Dealer Rewards & Support: Retail Rewards, Field Teams, Service, Dealer Systems
= Polaris #1 In Total Dealer Volume & Value
Analyst 7-26-17

37. 10Analyst 7-26-17
Tim Larson
CMO & SVP Customer Experience
QUESTIONS?

38. STEVE MENNETO
President – Motorcycles
Analyst & Investor Meeting
July 26, 2017
POLARIS INDUSTRIES INC.

39. 2017 N.A. 900+cc Industry
2017 Industry Off to a Choppy Start
Analyst 7-26-17 2
Industry Retail Trends2017 N.A. Industry Retail YTD
YTD Trends:
2017 N.A. 900+ cc Industry down upper-single digits YTD
Mid – Size Industry down low-double digits YTD
Cruiser Industry down low-double digits YTD
Bagger & Touring down low-single digits YTD
3 wheeled down high-double digits YTD
Cruiser
BaggerTouring
Midsize
3 Wheel
2014 2015 2016 2017E
Mid Size Cruiser Bagger Touring 3 Wheels

40. 2017 N.A. 900+cc Competitive Summary
Indian Motorcycle Largest Share Growth
Analyst 7-26-17 3
Rank Manufacturer Strategy Share Trend
1 Harley Aggressive Financing, Promotions, Dealers Discounting
Focusing on Cruiser, Sportster, Street Products
Huge Installed Owner Base
2 Indian American Heritage, Edgier Models
High Owner Satisfaction
3 Metrics Aggressive Promotions, Low Investment in New Product
Breadth of Distribution Bases
4 Triumph Historical Brand, New Products

41. Victory Wind Down
Wind Down is Progressing Well – Going As Planned
4
Retail YTD:
N.A. ~3% ahead of last year
Int’l ~flat to last year
Network inventory is down 65% vs. LY
Conversion:
Victory riders to Indian & Slingshot – programs available to convert
Victory store space is converting to ORV, Indian & Slingshot space
Global Dealer Network remains in tact for servicing, less than 10% terminations
Analyst 7-26-17

42. 5Analyst 7-26-17
Slingshot Video

43. Increasing our Adrenaline and Attention on the Business
6
Slingshot Business Improvements
Analyst 7-26-17
Quality – our engineering team is attacking our quality issues
Product – we’re clear on what our customers want for new product, we’re moving quickly to
deliver on their requests
Distribution – we have dealers doing very well and dealers who are not, we’re increasing our
support to drive new customers in our brand
Regulatory – Legal in 50 states (HI 1/1/18), 9 of 10 provinces (Nova Scotia), auto cycle in 36
states and 9 provinces
Brand – Slingshot is the open-air roadster that combines exotic looks with raw performance to
deliver an adrenaline and attention rush like no other

44. Improving Slingshot Product Across the Line
7
CY17 Slingshot Product News
SSLSLRSLRLE
New Price $19,999 Key New Features:
Larger Center Storage
Ride Command Up-Fit Opportunity
New Accessory Options
New Ride Command
5 New Special Colors
Key New Features:
Ride Command Standard
Navigation Upsell Opportunity
Ride Command w/Nav
New Color Offered
Key New Features:
Ride Command w/ Nav Standard
Bilstein Shock Upsell Opportunity
New Limited Edition
New Bilstein Shocks
Key New Features:
Ride Command w/ Nav Standard
10 way Adjustable Bilstein Shocks
2X Output Rockford Fosgate Speakers
Analyst 7-26-17

45. Improving & Expanding Ride Command
8
Slingshot Ride Command
Key Features:
7” Multi-Touch Screen Technology
100% Brighter vs. MY17 Screen
Most Intuitive System in Industry
Turn-by-Turn Navigation
Vehicle Information
Customizable Drive Screens
Easy Device Pairing (Phone & Audio)
Bluetooth & USB Connections
AM, FM, & Weather Radio
Analyst 7-26-17

46. New Slingshot PGA for 2018
9
New Accessories To Drive Customization & Dealer Profitability
Ride Command Kit: $2,499
Navigation Upgrade: $499
10-Way Adjustable Bilstien
Shock Kit: $1,899
Quilted Comfort Seats: $799 New Colored Accents Kits: $49+
SL Rear Fender: $699
SLR Rear Fender: $799
200w Premium Audio Kit: $799
Fits MY18 Models Forward Fits MY17 SLR Forward Fits MY17 Models Forward
Fits MY17 Models Forward Fits MY17 Models Forward Fits All Models
Analyst 7-26-17

47. Slingshot Brand Building
Events
Partnerships & PR
Showcasing Slingshot – Driving Awareness
Influencers
+50% event participation vs. 1H
‘16
11k+ NEW leads collected
Nearly 4k demo rides resulting in
~144 units sold
Dax Shepard – Actor
~110K likes ~2K comments
Genevieve Schmidt
Women Riders Now
Sportbike Inc
Life in the Fast Lane (TV show)
SS Takeover Group
Full Throttle & Adrenaline
Lifestyle Magazines
Analyst 7-26-17 10

48. 11Analyst 7-26-17
Indian Motorcycle Video

49. CY17 Indian Product News
Incredible Amount of News in 1H of 2017
12
Chieftain Elite
April 4, 2017
$31,499
Chieftain Limited
April 4, 2017
$24,499
Roadmaster Classic
February 21, 2017
$26,999
Jack Daniel’s
Limited Edition Chieftain
March 10, 2017
$34,999
Scout Bobber
July 14, 2017
$11,499
Scout FTR 750
March 1, 2017
$50,000
Springfield Dark Horse
July 25, 2017
$20,999
Roadmaster Elite
July 25, 2017
$36,999
Analyst 7-26-17

50. Apparel & General Merchandise
Grow PG&A
Largest Opportunity for Dealers & Polaris Motorcycles
13
New Categories
Made in America Line
Analyst 7-26-17
New Accessories
Accessories for Chief Line
19” Wheel / Open Fender
Updated Seats / Backrests / Bars
Engine Cover Kits
Accessories for Scout Line
Performance Exhaust & Intakes
Solo rack, Solo rack bag
Passenger seat/ pegs

51. Driving Global Awareness & All Ages to the Brand
14
Indian Racing
It’s the first time a female rider has won at Punks
Peak and the first time an Indian has competed.
Wheels & Waves – Biarritz, France 2017
Analyst 7-26-17
9/10 Wins – 23 of 30 Podiums
BEGINNING JULY
NBCSN Mon/Thurs
2-3 minutes on IMC
Wrecking Crew

52. Indian Brand Building
Events
Media
Driving Indian Awareness
15
Partnerships
Analyst 7-26-17
+3.5X total investment over 2H 2016
107M impressions | +200% vs 2H 2016
Heavy TV Starts in August
Call of Duty:
Player Reach: 40 Million
Social Following: 32 Million
Launch Budget: $150 Million
Age: 25 - 44 (41% of players)
Average Income: $61K

53. Driving Repeat and Referrals by Treating Our Owners as VIPs
16
Customer Experience
OWNER NEWS
OWNER SPECIAL
OFFERS
Owner Direct Mail
IMRG Offers
OWNER EXCLUSIVE
CONTENT
New Product Launches
Event Invitations
Owner Magazine
Owner Emails
Analyst 7-26-17

54. Dealer Count North America International
~200 ~170
~475 ~100
Growing our Motorcycle Dealer Network
Developing The Right Distribution For Profitable Growth & The Desired Customer Experience
Analyst 7-26-17 17

55. Stable, Consistent Quality
Paint capabilities/capacity has become a Profit Driver
Better processes, Cost Down through Lean
18
Improving Quality & Margins
HuntsvilleSpirt Lake/Spearfish
Motorcycle Operations
Large Investments In Quality:
In Sourced Painting & Paint Protection
Stricter Testing Requirements
Verification Photo Booth
Vehicle Crates from Factory to DC, Improved Transport Processes
New Packaging Standards for PG&A
Analyst 7-26-17

56. Motorcycle Profitability
Relentless Attack on Profitability
19
13%
2016 2017 2018 2019 2020 2021
Aggressive Product Plan
Robust PGA Business
Leverage Growing Scale
Integrate Suppliers in Margin Expansion
Lean Tools & Standard Work
Analyst 7-26-17
Approaching
Company
Average
Motorcycle Gross Profit % of Sales

57. 20Analyst 7-26-17
Steve Menneto
President – Motorcycles
QUESTIONS?

58. POLARIS INDUSTRIES INC.
2017 ANALYST / INVESTOR MEETING – LAS VEGAS
BOB MACK
President – Global Adjacent Markets
Analyst & Investor Meeting
July 26, 2017

59. Consumer Commercial Government Defense
Brands
Key Products
Primary Region
EMEA (Aixam)
USA (GEM)
North America
EMEA
North America
EMEA
USA
Allied Nations
Primary End
Markets
Rural Drivers (Aixam)
Young Drivers (Aixam)
Golf Communities (GEM)
Colleges & Universities
Material Handling
Rental
Urban Deliveries
Urban Mobility
Federal, State, Local
Police
Fire
Border Patrol
Municipalities
Army, Navy, Marines, Air
Force
Special Operations
Global Adjacent Markets
2Analyst Jul-2017
Focused on an $4B+ Market Incremental to Polaris Retail Businesses

60. Global Adjacent Markets – 2016 Revenue by Region
3Analyst Jul-2017
Geographically Balanced Business Targeting $4+ Billion Market
Europe
Americas
Asia

61. Competitive Landscape
4Analyst Jul-2017
Diverse Set of Competitors
Market Competitors Comments
Consumer Ligier sold to private equity in 2016
Club Car launched new PTV in 2017
EZGO first mover in Li-Ion golf cars
Commercial /
Industrial
Diverse end-markets and competitors
Textron consolidating its various vehicle platforms
Construction players more aggressive in rental
Government Budgetary and discretionary spend drives demand /
timing for vehicle purchases
Typically upfit of consumer or commercial products
Defense Polaris a niche player focused on light mobility
platforms
Competitors have strong legacy and significant
resources for vehicle programs

62. Global Adjacent Markets Strategy
5Analyst Jul-2017
Pull Together Brands/Products to Bring Comprehensive Solution to Customers
Create and acquire strong brands that offer task oriented small vehicles that
meet the needs of our commercial and government customers
Establish Polaris as the leading provider of ultra-light combat vehicles to global
defense customers, leveraging our commercial off-road innovation
Drive innovation through both the Global Adjacent Markets and Polaris
consumer products by leveraging government and customer-funded
advanced R&D
Optimize our global operations to maximize profitability and customer service
across our varied brands and businesses

63. Global Adjacent Markets – Growth Drivers
6Analyst Jul-2017
Strong Growth Potential
Growth Drivers Polaris Strategy
Consumer
Transition from older, rural buyers to
younger, urban consumers
Improved range and performance of electric
vehicles
Youth oriented Aixam products and accessories
Shared Li-Ion development and supply across
the Polaris portfolio
Commercial
Sustainability goals of end customers
Availability and cost of labor
Focus on key vertical markets
Autonomous and autonomous ready products
Government
Focus on security and border patrols
Infrastructure spend
Targeted solutions for government agencies with
highly customized accessory offerings
Defense
Growth in Special Operations forces
Mobility and transportability
Higher tech vehicle / soldier protection
systems
Lead with innovation in ultra-light combat
vehicles
Leverage government R&D programs and
commercial expertise to deliver the most
technically capable products

64. Growth in Consumer Markets
7Analyst Jul-2017
Customer Focused Innovation Driving Growth
Aixam continues to lead the European Quadricycle (EQC)
market
“No license” vehicles compliant with European legislation
Sold throughout Europe with both diesel and electric powertrains
Historically purchased mainly by rural buyers
New Li-Ion based electric vehicle launched in 2017
More power and range than previous models
Updated styling and ergonomics
Targeting an urban buyer who may have previously bought a scooter
Significant increase is electric sales year over year

65. ProductsChannels
Consolidation and Leverage – Taylor Dunn
8Analyst Jul-2017
Operations / Supply Chain
Improving Operating Performance, Quality and Dealer Profitability
Transferring GEM manufacturing and
assembly to Taylor Dunn facility in
Anaheim, CA
Will leverage facility, management,
suppliers and logistics to improve GEM
business performance
Project will be completed in Q4
Expanding GEM channels via addition of
Taylor Dunn dealers
More than 30 new dealer locations added
in the last 14 months
GEM unit volume through this channel has
doubled
Improved service and support capabilities
for GEM commercial customers
Launched Taylor-Dunn G-100 utility vehicle
leveraging Polaris technology
Utilizes Polaris Pro-Star engine
Vehicle has a 1,000 lb payload and 1,500 lb
towing capacity
Gives the Taylor-Dunn dealer base a new
way to compete in the market
Taylor-Dunn Results on Track with Acquisition and Synergy Plan

66. Polaris Innovation Win – Urban Grocery Delivery
9Analyst Jul-2017
Solving Customer Needs with Market Leading Innovation
Urban grocery delivery business is expanding rapidly in the
Netherlands
Goupil customer Picnic recently raised €100M in B series round
Company utilizes customized electric vehicles to make deliveries in urban
centers
Delivery is free to the company’s 30,000+ customers
Goupil launched new G4 electric vehicle in 2017
Combination of the best of the Mega E-Worker and the Goupil G3
Long life Li-Ion battery option
Increased cargo capacity
Improved ergonomics and quality
Opportunities to leverage the electric vehicle portfolio (GEM,
Goupil, Taylor-Dunn)
Sales for the Goupil business up 15+% YoY

67. Polaris Defense Win – Canadian Special Forces
$15.5 Million contract awarded for DAGOR Ultra-Light
Combat Vehicles (ULCV)
Competitive vehicle selection process including field trials
Contract includes options for additional units
Custom vehicles with new features and capabilities
Redesigned payload configuration
New weapons mounts
Electrical systems upgrades and integrated communications
systems
Success driving interest from other allied nations
Global need for flexible, customizable, air transportable ultra-
light combat vehicles for growing Special Forces missions
Already won another major allied contract award
Analyst Jul-2017 10
Leveraging our Off-Road Experience to Drive a Revolution in Military Affairs

68. DAGOR Video
11Analyst Jul-2016

69. Polaris Defense –Success with MRZR-D (Diesel)
12Analyst Jul-2017
Leveraging Polaris Commercial Technology to Expand our Business
MRZR D4 launched May 2016 and MRZR D2 Launched February
2017
New military only Turbo Diesel engine, 80% more efficient than gas
Operates on heavy fuel typically available at bases
Diesel option accelerates growth of MRZR
Canadian Military for Light Infantry Battalions
U.S. Army expands MRZR fleet
U.S. Marine Corps for fleet of internally transported vehicles (F-ITV)
Various allied nations have made purchases
Cost, performance and flexibility driving sales
Platform of choice for multiple missions
“The UTV is a perfect example of how we can do acquisition faster and more
efficiently. It may be a model for obtaining items from industry quicker in
the future.” – Mark Godfrey, vehicle capabilities integration officer at
Marine Corps Combat Development and Integration.

70. 13
Strong Global Adjacent Markets Results in 2017
Analyst Jul-2017
Global Adjacent Markets Outlook
2017
Objective
2017
Expectations
2017
Comments
Revenue
(incl. PG&A)
Up Mid-Single Digits %
Solid Growth Expected
GOV, Aixam, Goupil and Taylor-Dunn
annualization
Gross Profit
(% of sales)
Similar to Prior Year
Gross Margin Opportunity
Sales leverage, mix, expense management

71. 14Analyst-July2014
BOB MACK
President – Global Adjacent Markets
QUESTIONS?

72. MIKE DOUGHERTY
President – International
Analyst & Investor Meeting
July 26, 2017
POLARIS INDUSTRIES INC.

73. Growing Business. Beating Plan. Building Global Foundation.
INTERNATIONAL2017 YTD Overview
EMEA
Rev & Profit Growth. Clean Inventory. Opole improving.
ORV growing led by RGR. Indian strong growth throughout region.
Latin America
Polaris growth momentum continues led by Mexico ORV & MC.
Asia Pacific
Australia strong growth in both ORV & MC. China Indian MC business up.
Product
MY18 ORV: Strengthening RGR with new XP1000 and EU General.
MY18 Motorcycle: Scout Bobber key new model.
2Analyst 7-26-17

74. All Regions Growing. Australia/New Zealand +34% Driving Asia Pacific
INTERNATIONAL2017 International Revenue Growth YTD
LATIN AMERICA
$41M
+5%
EMEA
$251M
+6%
ASIA PACIFIC
$65M
+16%
INTERNATIONAL
$357M
+6%
3Analyst 7-26-17

75. EU #1 Region. ORV #1 Business Unit.
INTERNATIONALInternational Revenue Breakdown
1H 2017 Revenue by Business Unit1H 2017 Revenue by Region
EU
India
MEA
Russia
China
Asia Other
LatAm
ORV
Snow
MC
GAM
4Analyst 7-26-17

76. INTERNATIONAL2017 – INTERNATIONAL OVERVIEW
RZR REBOUND
Defend #1 Business
Mexico, China,
UAE Lead
Customer Loyalty
REGAINING OFF-ROAD MOMENTUM
RANGER Growth
GENERAL Focus
EU Built
+20% YTD
MAXIMIZE SNOW
Titan Launch!
Dealer Engagement
Russia Rebound
5Analyst 7-26-17

77. INTERNATIONAL2017 – INTERNATIONAL OVERVIEW
EUROPE
Rev & Share Growth
Building Brand
IMRG Experience
ASIA PACIFIC
Australia +60%
China 1200cc+
Japan Focus
DRIVE INDIAN GROWTH!
LATIN AMERICA
Mexico Expansion
Brazil Stability
3 New Distributors
6Analyst 7-26-17

78. México es Muy Importante!
INTERNATIONALLatin American Revenue
Mexico
Brazil
Arg
Other
7Analyst 7-26-17

79. Leveraging Great Team to Drive Growth in All Product Lines
INTERNATIONAL2017 – INTERNATIONAL OVERVIEW
2013 2016
PGA
INDIAN
RGR
ATV
RZR
Polaris Mexico Revenue
5X
Maximize Mexico
#1 International RZR Market
ATVs +25%
Indian 10% MS in 1st Yr.
Slingshot on Track
PG&A Ramping Up
Adding Taylor-Dunn and TAP
Growth despite Peso -40%+ since ‘13
8Analyst 7-26-17

80. Polaris Mexico Video

81. Grow Business. Beat Plan. Build International Foundation
INTERNATIONAL2017 DIRECTION – HOW WE WILL WIN
REGAIN OFF-ROAD MOMENTUM
MAXIMIZE MEXICO
DRIVE INDIAN GROWTH
10Analyst 7-26-17

82. 11Analyst 7-26-17
Mike Dougherty
President – International
QUESTIONS?

83. CHRIS WOLF
President – Snowmobiles & Timbersled
Analyst & Investor Meeting
July 26, 2017
POLARIS INDUSTRIES INC.

84. MY18 Snowmobile Brand Video (1:58)
Analyst 7-26-17 2

85. Snowmobile Industry
Healthy Sport, Driven by the World’s Most Passionate Enthusiasts
3Analyst 7-26-17
213,000
Miles of Trails
$39 Billion
in Economic Activity
1.8 Million
Registered Units in N. America
3,000
Snowmobile Clubs

86. 4Analyst 7-26-17
So, what does 213,000 miles of trails, built by
3000 clubs for 1.8 million sleds look like?

87. 5Analyst 7-26-17

88. Down
high-single
digits %
Global Snowmobile Industry Performance
Snowmobile Industry OutlookN.A. Share Growth by OEM Since 2010
Premium Segment is Healthy and GrowingIndustry Retail Units (5-year CAGR -1.7%)
Premium
CAGR 3.7%Core
CAGR 1.7%
Value
CAGR -6%
Industry down mid-single digits due to spotty snowfall
Dealer inventory, promotions elevated
Polaris competes strongest in Premium segments
+5%
12/13 13/14
+12%
+9%
14/15 15/16
-4%
11/12
-16%
6Analyst 7-26-17
16/17
EMEA
CAN
US

89. Market Share (North America, Norway, Sweden, Finland)
Polaris Performance Highlights During 16/17 Season
Worldwide Share 13/14 Season 14/15 Season 15/16 Season 16/17 Season
Polaris share erosion driven primarily by soft retail performance of Value models
Premium AXYS-chassis models retailed well and continued to earn high satisfaction scores
Timbersled awareness campaign and improved distribution is fueling growth
7Analyst 7-26-17

90. MY 2018 Product News
8Analyst 7-26-17

91. All New Timbersled AROExpanded SKS and XCR Lineups
MY 2018 News Summary
All New Titan Extreme Crossover
Exciting New Product Introductions for Existing and New Customers
9Analyst 7-26-17

92. 10Analyst 7-26-17
NEW POLARIS TITAN

93. 11Analyst 7-26-17
NEW TIMBERSLED ARO

94. Rewarding LoyaltyTop Partners and Athletes
Marketing Leadership
Industry-Leading Reach
Building Our Brands and Reaching New Customers
Reaching New Audiences
Through Key Partners, Athletes
Building Loyalty with Targeted
Marketing, Events, Promos
High Quality Traffic, Leads with
Industry’s Most Engaged Fans
12Analyst 7-26-17
4XMORE
ENGAGED

95. Growth Strategy Roadmap
1. Industry Leading Quality and Satisfaction
Innovative AXYS platform driving improved customer satisfaction
2. Product Innovation
Frequent product news drives retail excitement and share growth
Investing to extend our lead in snow bikes
3. Strong Marketing Support
Passionate, loyal customers
Industry’s best athletes and partnerships
Driving Snowmobiles and Snow Bikes Forward with Quality and Innovation
13Analyst 7-26-17

96. 14Analyst 7-26-17
Chris Wolf
President – Snowmobiles
QUESTIONS?

97. MATT HOMAN
President – Off-Road Vehicles
Analyst & Investor Meeting
July 26, 2017
POLARIS INDUSTRIES INC.

98. AGENDA
1. Market Overview
2. 1H Results
3. 2H Launch Plan
2Analyst 7-26-17

99. Market Overview1.
3Analyst 7-26-17

100. POLARIS ORV OVERVIEW
DIVERSE PRODUCT AND GEOGRAPHIC PORTFOLIO
ATV
Utility
SxS
Revenue Region Manufacturing
Utility SxS #1
Rec SxS #2
ATV important
NA continues to lead
Int’l important long-term
Huntsville live
Roseau/Mexico critical
Poland feeds EMEA
Rec
SxS
US
Int’l
CAN
Mexico
Poland
Huntsville
Roseau
4Analyst 7-26-17

101. ORV INDUSTRY OVERVIEW
SXS DRIVING THE INDUSTRY
CAN
Summary
Polaris #1 In ALL Segments
3 Year CAGR Units = Down LSD
3 Year CAGR $ = UP LSD
Growth Driven by SxS
ATV*
Utility SxS*
REC SxS*
X-Over SxS*
5% units
8% of revenue
3 YR Unit CAGR HSD growth
36% of units
26% of revenue
3 YR Unit CAGR MSD decline
11% of units
18% of revenue
3 YR Unit CAGR LSD decline
45% of units
45% of revenue
3 YR Unit CAGR LSD Growth
*Off-Road Vehicle Market in units (estimated)
5Analyst 7-26-17

102. UTILITY SXS OVERVIEW
LANDOWNERS = CRITICAL CUSTOMER; FULL-SIZE MOST IMPORTANT
CAN
Full-
Size
48%
Mid-
Size
23%
Multi-
Passenger
29%
Rec
15%
Hunt/
Fish
13%
MAHO
47%
Ag
20%
Other
6%
What Sells Who Buys
Full size most critical MAHO #1
Ag #2
Hunt/Fish #3
6Analyst 7-26-17

103. 64” SEGMENT EMERGED AS HEART OF THE MARKET
CAN
50”
Trail
60”
Sport
64”
High Perf
72”
High Perf
~$12K to
$14K Price
~$16K to
$18K Price
~$20K to
$25K Price
~$25K+
Price
64” High Performance dominates market – outstanding performance + versatility
72” Emerging space
Primary buyer = 43 year old male with $140K HH income – has family and uses for recreation 80%+
RECREATION SXS OVERVIEW
7Analyst 7-26-17

104. GROWTH OPPORTUNITIES
LARGE UNTAPPED TARGET GROUPS + LARGE INSTALLED BASE
CAN
Owners
3.0
High Income
4.8Low Oppty
14.3
Polaris Owners
2.5M
3M
Intenders
on PII.com
5M
High-Income
Rec Enthusiasts
RECREATION
INTENDERS
POLARIS
INSTALLED BASE
UTILITY
INTENDERS
MAHO 2+ Acres
10M
11% Own
Ag
2.1M
70% Own
Hunt
14.5M
25% Own
8Analyst 7-26-17

105. 1H Results2.
9Analyst 7-26-17

106. INDUSTRY PERFORMANCE TRENDS
RETAIL TRENDS IMPROVED SEQUENTIALLY – SHARE CHALLENGED
CAN
ATV SxS
2017 Improvement vs 2016 – more work to do
Utility SxS
Youth/value driven
ATV value + Rec SxS + Utility SxS
Utility SxS
Continued threat
10Analyst 7-26-17

107. 1H SUMMARY
IMPROVEMENT PLAN ON TRACK – TREMENDOUS WORK REMAINS
CAN
Improve Full-Size RANGER Retail
Gain Share in 500cc ATVs
Drive GENERAL Growth
Deliver RZR Retail Plan &
Improve Quality
Hit Financial Commitments
Double digit sequential
improvement vs. Q4
500cc solid – share issues outside
High double digit growth – #1
Retail on plan, MY17 early quality
~30%+ improvement
Modestly ahead of financial plan
11Analyst 7-26-17

108. 2H Launch Plan3.
12Analyst 7-26-17

109. 13Analyst 7-26-17

110. BIG Changes – Dealer Partnership
BIG Investment – Product Quality
BIG Investment – Retail Support
14Analyst 7-26-17

111. BIG CHANGES – DEALER PARTNERSHIP
BECOMING BETTER PARTNERS
EASIER TO DO BUSINESS WITH
SIMPLIFIED
COMMUNICATIONS
PROCESS
EASIER DEALER
EXTRANET
SYSTEM
LONGER
CUSTOMER
SERVICE HOURS
FASTER CALL
RESPONSE TIMES
15Analyst 7-26-17

112. SxS RFM GOES LIVE IN THE 2H OF THIS YEAR
GRADUAL IMPROVEMENTS THROUGH Q4 AND EARLY 2018
FULLY OPERATIONAL DURING 1H’18
IMPROVED SHIP DATES & VISIBILITY PLUS RETAIL FOCUS
PROFILE AGREEMENT
SEPTEMBER
ORDERS BEGIN
OCTOBER
FIRST SHIPMENTS
NOVEMBER
BIG CHANGES – DEALER PARTNERSHIP
NEEDED IMPROVEMENTS TO MANAGE INVENTORY AND RETAIL
SIDE-BY-SIDE RFM
16Analyst 7-26-17

113. BIG INVESTMENT – PRODUCT QUALITY
EXTREME
DURABILITY
AUTOMOTIVE
STYLE
EASIER
OPENING
2-STAGE
LATCHING
ALL MY18
IMPROVED
DRIVELINE
IMPROVED RIDER COMFORT
STRONGER
HALF SHAFTS50%
EASIER SHIFTING
SMOOTHER
EBS25%
DIGITAL DISPLAY
COOLER
RIDING60%
QUALITY SYSTEM DRIVING BIG IMPROVEMENTS17Analyst 7-26-17

114. BIG INVESTMENT – DRIVE RETAIL
STRONG ADVERTISING
DEALER REWARDS
RZR & RANGER NEWS! – MOTIVATE RETAIL
HUGE INVESTMENT TO DRIVE FAC RETAIL
18Analyst 7-26-17

115. 19Analyst 7-26-17

116. SPORT
60”
XTREME
64”+
RECREATION SXS: 64” = HEART OF MARKET
$22,000$20,000$18,000$16,000$14,000$12,000 $24,000 $26,000
TRAIL
50”
92% of XTREME PERFORMANCE = 64”
72”
64”
20Analyst 7-26-17

117. WHY 64” IS HEART OF THE MARKET?
ONLY RIDE IN
JUST DUNES + DESERT
NEARLY RIDE IN
3+ TERRAINS
21Analyst 7-26-17

118. WINNING FORMULA
~EQUAL ~EQUAL SUPERIOR
22Analyst 7-26-17

119. RZR HAS THE MOST
Over 2 Feet Better
SIGHTLINES
ENGAGES FASTER
AWD SYSTEM
~EQUAL
Center of Gravity
6o BETTER
BETTER APPROACH ANGLE
15% BETTER
RAMP OVER ANGLE
29% BETTER
OFF-TRACKING
IS MOST AGILE 64” MACHINE
23Analyst 7-26-17

120. NEW: XP TURBO WALKER EVANS EDITION
168 HP Walker Evans Shocks
24Analyst 7-26-17

121. 168 HP
“THE ONLY RIDE THAT TUNES ON THE FLY”
NEW: XP TURBO
ADDITIONAL FEATURES
RIDE COMMAND
REAR CAMERA
BLACKED OUT HEADLIGHTS
PAINTED GRILL
25Analyst 7-26-17

122. RZR XP EPS 1000
Now $17,999
RZR XP EPS Turbo
NEW! $19,999
RZR XP Turbo DYNAMIX
NEW! $25,999
RZR XP Turbo Fox Edition
Now $22,999
INDUSTRY LEADING RZR XP LINE-UP
MUCH STRONGER “HEART OF MARKET” LINE-UP26Analyst 7-26-17

123. STARTS 27Analyst 7-26-17

124. 287

125. CLASS-LEADING 82 HP
CLASS-LEADING 2,500 LB. TOWING
CLASS-LEADING 13” GROUND CLEARANCE
ALL-NEW REDESIGNED INTERIOR
PRECISE HANDLING & THROTTLE CONTROL
MODERN, REFINED EXTERIOR DESIGN
NEW ONE-YEAR WARRANTY
ALL-NEW DRIVELINE
ONE-PIECE CHASSIS
OVER 100 OWNER INSPIRED
IMPROVEMENTS!
MY’13 RANGER WAS BIG
NEW RANGER = BIGGER
29Analyst 7-26-17

126. ORV SUMMARY
SIGNIFICANT COMPETITIVE WORK TO DO – BUT, THE BUSINESS IMPROVING
CAN
ORV tracking to deliver 2017 financial plans
Significant improvement work remains – share, quality, etc.
Business results improving – RANGER, RZR, GENERAL
2H 2017 plan is strong – RZR attack + RANGER launch
The future remains BRIGHT in ORV
30Analyst 7-26-17

127. 31Analyst 7-26-17
Matt Homan
President – Off-Road Vehicles
QUESTIONS?

128. KEN PUCEL
EVP – Global Operations, Engineering & Lean
Analyst & Investor Meeting
July 26, 2017
POLARIS INDUSTRIES INC.

129. 2013 2014 2015 2016 2017 YTD
Occupational Safety, Quality, Delivery, Cost – 2017 Performance
Quality (Rework %)Occupational Safety (TRIR)
Focused on the Fundamentals That Drive Occupational Safety, Delivery, Quality and Cost
Gross Value ImprovementDelivery
2013 2014 2015 2016 2017 YTD
Product Capacity
ATV
Ranger
RZR
Snow
Motorcycles
Slingshot
GEM
TOTAL G
G
G
G
G
G
G
G
2
Over $400M of Cumulative Cost Savings
Analyst 7-26-17
Driving a Zero Incidents Culture Focused on Improving Performance
Plant Delivery
Huntsville
Roseau
Spirit Lake
Milford
Monterrey
Opole
Osceola
TOTAL G
G
G
G
G
G
Y
G

130. VIP – Value Improvement Program
Strong Value Improvement Momentum Continues
Key StrategiesPerformance Summary
>2,500 projects complete 2015-2017
VIP process monetizes our continuous improvement.
Standard tools for collecting and sharing ideas
Fuel momentum with recognition programs for large &
small improvements
Empower teams to impact change at all levels
3
Significant Value Creation …
Over $400M of Cumulative Cost Savings
Analyst 7-26-17
2015 2016 2017E

131. Operations Strategy Targets Best-in-Class Performance
Polaris Global Operations 2018-2022 Strategy
Vision: Polaris Operations strategy is focused on achieving Best-in-Class
performance in SQDC-Inventory-New Products.
What 5 Year Success Looks Like
Occupational Safety: Continued strong workplace safety
Quality: ~30% improvement of key metrics
Delivery: 40% faster to drive RFM performance
Cost: ~ $500 million Gross VIP (2018 – 2022)
Inventory: 25% improvement in utilization
New Products: Improved Safety/Quality, Delivery and Speed
4Analyst 7-26-17

132. 2015
2016
2017E
2018E
2019E
2020E
2021E
2022E
VIP – Value Improvement Program
Driving Productivity Improvements to Create Significant Value
Targeting 4% Global Operations Gross Rate of Improvement
~$500M Cost Savings from 2018 – 2022
Strategic Sourcing ~$300M savings
Manufacturing Excellence ~$100M savings
Logistics and Plant Network Optimization ~$100M savings
~$900M
Cumulative Gross Savings
By 2022
>$400M
Cumulative Gross Savings
VIP Driving Potential for 300 – 500 bps of
Gross Improvements in Gross Margins
5Analyst 7-26-17

133. Manufacturing Excellence
6
Driven to Become the Best Manufacturer In Powersports+
Vision: Best-in-Class Plant performance in
Occupational Safety, Quality, Delivery, Cost
and Inventory by executing 5 key strategies
Five Strategies Delivering ~ $100M of
Gross Value Improvement achieving
5% Annual Cost Improvement
I. Quality System Execution
II. Polaris Production System (Lean)
III. Best People, Best Team
IV. Plant Network Optimization
V. Process and System Technology
5%
15% 30%
25%
Analyst 7-26-17

134. Polaris Manufacturing Capacity Utilization
Polaris Manufacturing Will Lever Fixed Cost Over Period
Discontinuation of Milford Site Operations
Ramp Huntsville to Support
ORV, OSPS and Slingshot Growth
Maintain Monterrey Leverage
Spirit Lake Capacity in Place to Support
Motorcycle Growth
Utilize Roseau to Increase Insourcing and
Vertical Integration Capabilities
Plants and Distribution Centers Aligned to
Support Retail Flow Management (RFM)
Continuous Improvement Through
Lean Transformation
7Analyst 7-26-17
Delivering ~$40M of Run Rate Savings
While Delivering RFM

135. 400 bps IMPROVEMENT IN N.A. PLANT UTILIZATION400 bps Improvement in North American Plant Utilization
MANUFACTURING FOOTPRINT CONSOLIDATION
MEDINA
HQ
MONTERREY
RZR, GENERAL,
RANGER
(NO CHANGES)
SPIRIT LAKE
MILFORD
RIVERSIDE
Pro Armor
ANAHEIM
Taylor-Dunn
HUNTSVILLE
RANGER,
Slingshot
Indian Motorcycles
(NO CHANGES)
ROSEAU
Snow, ATV, MRZRTransferring Milford manufacturing
to existing facilities
Milford location repurposed for
warehouse/distribution center
Pro Armor Aftermarket products
transferring to TAP production
facility
Rationale:
Improved plant utilization and efficiency
Cost savings from fewer leased
properties
Simplifies Aftermarket manufacturing
footprint
Analyst 7-26-17 8

136. Improving Net Savings Rate from 1.6% to ~2% Annually
9
Material Cost Improvement
Engineering VAVE VIP
Global SourcingVIP
2017 20222018 2019 20212020
Building Capabilities to deliver consistent results on 4 Strategic Priorities
(Quality/Safety, New Products, Delivery and VIP Execution)
Targeting 3% Gross Rate of Improvement
and incremental ~ $300M Cost Savings
from 2018 – 2022
Strategic Framework
Analyst 7-26-17

137. 2017 2018 2019 2020 2021 2022
Gross Inventory Turns
Inventory Improvement 2016-2022
10
Lean Will Continue to Drive Inventory Performance
Automation of SIOP Process
Forecast accuracy
Inventory optimization
Manufacturing flexibility
Enable RFM and F&O strategies
Lean Initiatives & Capabilities
Analyst 7-26-17
25%
Develop capabilities,
processes & tools to
drive ongoing rates
of improvement
Improvement
$100 million reduction achieved in 2016
Additional 25% inventory utilization improvement
2018-2022

138. Measure Total Improvement (2017-2022)
Safety/Quality Events Faster Response Root Cause Elimination
Net Promoter Scores Industry Leading
Warranty Rate
Internal Rework
Supplier Quality
Safety and Quality Systems Focus
11
Safety and Quality Improvements Continue
Polaris is focused on improving product safety and
quality by improving our systems and execution
Analyst 7-26-17
~30%
~60%
~35%
Quality System Focus Areas
Post Sales Surveillance
Design Controls
Supplier Quality
Manufacturing Controls

139. New Product Development
Product Design FocusProduct Development Vitality Index
Increasing Investments in Product Development for Innovation
PrioritiesR&D Investment
% Contribution to Sales of Vehicles Introduced in Past 3 Years
Analyst 7-26-17 12
Product Development Systems for Safety and Quality
Product Execution Capacity, Capability, Market Knowledge
Product Innovation and Customer Focused Technology
Value Improvement and waste reduction
Enabling Product Development Process
Increasing Investments in Safety and Systems Engineering
Product Innovation:
Superior Ride and Handling
New Market Knowledge and Expertise
Exceptional Powertrains – Gas and Electric
Electronics and Software for the Rider Experience
Rider Comfort and Style
Cross-Functional Design for Manufacturing and Value
$77M
$63M
$85M
$138M
$148M
$166M $148M
$166M
$185M
$113M
4.0% 4.0%
4.3%
4.0%
3.3%
3.7%
3.3%
3.5%
4.1%
4.5%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
YTD
R&D $ % Sales
72%
78%
72%
70%
76%
85%
72%
2011 2012 2013 2014 2015 2016 2017 YTD

140. 13Analyst 7-26-17
Ken Pucel
EVP – Global Ops, Eng. & Lean
QUESTIONS?