PRESENTATION MATERIALS

EX-99.1 2 dex991.htm PRESENTATION MATERIALS PRESENTATION MATERIALS

July 27, 2011

Exhibit 99.1

July 27, 2011 –

Gaylord Opryland Resort –

Nashville, TN

Analyst & Investor Meeting Agenda

8:00

Opening Remarks

Scott Wine

8:10

Strategy Overview

Bennett Morgan

8:25

Off-Road Vehicles, Bobcat

Matt Homan

8:55

Snowmobiles, PG&A, & Financial Services

Scott Swenson

9:15

Sales & Mktg / On-Road Vehicles (GEM)

Mike Jonikas

9:35

Victory Motorcycles / Indian

Steve Menneto

9:50

Break

10:05

Military / R&D / Powertrain

David Longren

10:25

Global Market Development

Mike Dougherty

10:55

Operations / Supply Chain / Monterrey /

Suresh Krishna

Acquisition Integration

11:25

Closing Comments

Scott Wine

11:35

Q&A

Wine/Morgan/Malone

Jul-2011 AM

Private Securities Litigation Reform Act of 1995

Polaris Industries Inc. Disclosure Litigation Statement

Safe Harbor

Except for historical information contained herein, the matters set forth in this document,

including but not limited to management’s expectations regarding 2011 and longer-term

objectives for sales, shipments, net income, cash flow, and manufacturing realignment

transition costs and savings, 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 product offerings,

promotional activities and pricing strategies by competitors; manufacturing realignment

transition costs; acquisition integration costs; warranty expenses; impact of changes in

Polaris stock prices on incentive compensation; 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;

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 our 2010 annual report and

Form 10-K 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.

Jul-2011 AM

2011 1st

Half Financial Metrics

2011 YTD

Actual

Var. to ‘10

Sales

$1,145

+44%

Net Income

$96.0

+112%

Gross Profit %

28.8%

+260 bpts

Op Profit %

12.8%

+340 bpts

Net Income %

8.4%

+270 bpts

EPS

$2.71

+102%

Shareholder Return

44%

+17% pts

Exceptional Start to 2011

Jul-2011 AM

Total Company Sales (in millions)

Diluted EPS

Full Year 2011 Guidance

$1,991

Up 25% to 28%

$2,490 to $2,540

2010 Actual

2011 Guidance

$4.28

Up 39% to 41%

$5.93 to $6.05

2010 Actual

2011 Guidance

2011 Sales & EPS Projections Raised, Again

Retail sales growth continues to outpace the industry

International, Military, and Bobcat businesses accelerating growth

Net income dollars projected up 45% to 47%

Net income margin improvement accelerating

Diluted EPS expected to be up 39% to 41%

EPS expected in $5.93 to $6.05 range

Jul-2011 AM

Strategic Objectives

2009

2014

2019

2009

2014

2019

$1.6

Billion

$5.0

Billion

Grow Sales

$5 Billion by 2019

6.5%

10.0%

Expand Net Income

10% of sales by 2019

Best in Powersports PLUS

5-8% organic growth to >$3B

Growth through Adjacencies

>$2B from acquisitions and new markets

Global Market Leadership

>33% of Polaris Revenue

Operations is Competitive Advantage

Lean Enterprise for world class quality, cost, lead times

Strong Financial Performance

Sustainable, Profitable Growth

Net Income Margin to 10%

Consistent Strategy, Continued Execution

>8.0%

$3.0

Billion

Jul-2011 AM

Goal

Jul-2011 AM

Making Growth Happen

Industry is

34% Smaller

Since 2008

Industry has declined over the past 3 years

2008 vs. 2011

Global Industry Retail Sales (Units)

2008 –

2011 Sales Trends

ATV

SxS

SNOW

MOTOR

CYCLES

INDUSTRY

TOTAL

Jul-2011 AM

Making Growth Happen

Growth by Geographic Region

Growth by Business/Product Line

SxS & N.A. Driving; Newer Growth Initiatives Contributing

In a declining industry…

We Made Growth Happen!

$500M of Growth!!

2008 –

2011 Sales Trends

ATV

SxS

SNOW

VICTORY

POLARIS

TOTAL

MILITARY

OSPS

LEV/

GEM

Jul-2011 AM

Making Growth Happen

Most

These

Have

Not

Paid

Back

Yet!

Aggressive Investments in Our Future

New Product Development

SxS, ATVs, Motorcycles, Snowmobiles, PGA

More Advertising

MVP

Monterrey

EMEA HQ

SwissAuto

Military

LEV

GEM

Indian

China

Over $300M of capital invested in tooling, acquisition,

operating expenses and/or people commitments

Bobcat

Brazil

India

International NPD

Business Development

And others…

2011-2012 N.A. Macroeconomic Outlook

Global –

emerging economies lead . . . Europe lags

North American GDP 2.5 to 3.0 for 2011 –

slightly better in 2012

Housing, unemployment remain problematic

Consumer confidence modestly improves

Government policy, 2012 election uncertainties may sputter recovery

Slow recovery remains most likely scenario

Jul-2011 AM

What’s Different From 1 Year Ago?

Market

Cap

has

doubled

$4B

with

Half

Sales

(+44%)

and

EPS

(+102%) growth

SxS business significantly larger on huge market share gains and

continued momentum

Victory is profitable and has grown to # 2 in share YTD 2011

Monterrey is an operating plant with 630 employees vs. an empty

field in July 2010

International expansion on schedule with EMEA HQ, growth in

China, India & Brazil

Indian & GEM make acquisitions real; Military & Bobcat adjacencies

accelerating

Jul-2011 AM

A Bigger, Stronger, more Profitable Business…Still Hungry and Humble

Drive organic growth -

every

business grows share

ORV innovation delivers

sales and profit growth

Victory grows revenue and

profits rapidly

Snow is clear #2 with

operating profit growth

Polaris powertrain

penetration grows

Best in Powersports PLUS

Jul-2011 AM

Jul-2011 AM

Best in Powersports PLUS

Powersports Highlights

Industry on plan and stable at -1% in Q2 & YTD

Polaris Q2 Retail: ORV up mid-teens; Victory +40%

Polaris #1 Powersports OEM in 2010 & 1H 2011

RZR XP fastest turning new product launch ever

Polaris Retail Trends Remain Strong; Industry Stable

Positive North American Retail Sales Trends Continue

Jul-2011 AM

Best in Powersports PLUS

Polaris is #1 in N.A. Powersports

Includes Total Motorcycle Industry

Consolidated N.A. Market Share (Units)

Acquire or partner, then integrate profitable revenue

Bobcat continues to grow revenue

Expand Defense sales to >$50M with product innovation

SwissAuto Technology applied outside powersports

Jul-2011 AM

Bobcat

Military

Growth Accelerating

Growth Through Adjacencies

Jul-2011 AM

Growth Through Adjacencies

Strategic Acquisitions will Expand On-Road Presence

Milestones:

Closed acquisition June 2011

Hired GEM personnel

Retained vast majority of GEM dealers

Next Steps:

Stabilize volume

Re-energize dealers

Future Product Planning

Spirit Lake assembly

Cost reduction

Milestones:

Closed acquisition in April 2011

Exited Kings Mountain July 1st

Hired/Contracted Indian personnel

Next Steps:

Develop & build clear brand strategy

Spirit Lake assembly

Product design/planning: Focus to deliver

differentiated models with core Indian

DNA

Distribution planning for re-launch

Global Market Leadership

Grow EMEA and expand #1 share leadership position

China distribution & partnerships drive profitable sales

Establish India business foundation & key partnership

Continue rapid Victory growth

Jul-2011 AM

$77.5

+35%

$104.2

+21%

$305.9

Polaris Sales (millions)

FY 2011

guidance

FY 2010

Q2 2011

Q2 2010

Up 20% to 25%

International Investment & Expansion Continuing

Making Aggressive Investments Outside N.A.

EMEA HQ

SwissAuto

China

Brazil

India

International Products

And others . . .

Operations as a Competitive Advantage

Drives up to 220 basis points gross margin gain in FY 2011

Quality, delivery and performance targets delivered throughout manufacturing

realignment

Quality improvements drive Net Promoter Scores up and warranty down

Reduce Polaris factory and dealer inventories

LEAN and sourcing initiatives to deliver net cost improvement

Reduce lead-time and improve delivery flexibility for Victory and ORV

Strong Start –

Driving for Results in Future Growth Initiatives

Net Promoter Scores

Vehicles

with

Warranty

Claims

Goal is 95%

Forecast

Industry

Rank

Trend

SxS

ATV

Snow

Victory

Jul-2011 AM

Strong Financial Performance

$28.65

$43.63

$78.02

6.0%

6.5%

7.4%

8.4%

22.8%

27.3%

27.7%

29.2%

Q4-'08

Q1-'09

Q2-'09

Q3-'09

Q4-'09

Q1-'10

Q2-'10

Q3-'10

Q4-'10

Q1-'11

Q2-'11

Stock Price

FY NI Margin

Gross Margin

When We Expand Margins; Investors Will Reward Performance

$118

Jul-2011 AM

June YTD % Change in

Total Company Sales

June YTD Sales Growth

by Region

Strong Financial Performance

2011 Full Year Guidance

Sales $2,490M to $2,540M (+25% to +28%)

Net Income up 45% to 47%

EPS of $5.93 to $6.05

Strong Start –

Driving for Results in Future Growth Initiatives

Volume

35%

Product Mix & Price

Currency

_2%

44%

Jul-2011 AM

June YTD Sales Growth

by Business Unit

Jul-2011 AM

Polaris Industries Inc.

Q & A

Polaris Industries Inc.

Analyst & Investor Meeting

July 27, 2011

Matt Homan, VP Off-Road Vehicles

July 27

, 2011

Off-Road Vehicles Agenda

Industry and Competitive Update

Off-Road Vehicle Plans and Results

Bobcat Adjacency Update

Off-Road Vehicles –

The Future

ORV Business Breakdown

ATV

SxS

Military

Bobcat

#1 business

for revenue

and profits

Large business

with significant

profits

Incremental

Growth

Opportunity

RANGER #1 Priority; Sportsman Remains Significant

ATV

SxS

Military

Bobcat

Off-Road Vehicle Industry Trends

ATV Industry Remains Weak –

SxS Solid Growth in 2010 and 2011

SxS

ATV Industry Trends

5 Year CAGR = -20%

Modest improvement in 2010/2011 forecasted

SxS Industry Trends

5 Year CAGR +2% –

Driven by weak 2009

Solid growth in 2010/2011 forecasted at +8%

Off-Road Market Share Summary

Polaris #1 in ORV; #1 in SxS; Closing in on #1 in ATV

ORV

SxS

ATV

Trend

N/A

2010 Powersports Research SxS Data

2011 YTD ATV Market Share Numbers

Off-Road Vehicles Growth Strategy

Strong Plan –

Working to Drive Results

New Products Drive Incremental SxS Growth

Big News –

RZR XP, RZR 570

Big Retail Drivers Improvements –

RANGER Heat, Limited Editions

More Incremental Opportunities –

RANGER Diesel Crew

Gain Profitable ATV Share –

Protect Sportsman

Big News –

Sportsman 850HO

Big Improvements –

Sportsman Value Line Storage

Profitable Growth –

Significant Share Gains + Margin Expansion

Aggressive MVP Plans to Drive Retail

99% 1H dealer retail plans

2H Retail plans enhanced –

do 3 to 4 MORE things (advertise, in-store event, etc.)

Improvements to product availability / mix in 2H of 2011

Improve Across Value Chain to Expand Margins

Monterrey on-line –

Off to great start

Strong combination of cost down, pricing and expense management

Strong Retail Results –

Positioned Well to Continue

ORV RANGER Retail Results

All RANGER segments growing

Share growth has been very strong

RANGER (no RZR) #1 in SxS by over 2X next closest competitor

RANGER MY’12 product and marketing plan positioned well

ATV

SxS

Military

Bobcat

RANGER MY’12 New Products

Improvements and Incremental Opportunities Drive Growth

RANGER = Top

Customer Improvements

Diesel Crew =

Incremental Opportunity

Limited Editions =

Drive Retail

Heat = Big Reduction

Hills = HD Engine Braking

Incremental Customer

International/Military First Mid-Size LEs

Opportunity

First Walker Evans RANGER

2011 Ahead of Plan; Incremental New Plays Working

ORV RZR Retail Results

Strong incremental RZR growth as new segments launched

Clear leader in recreation segment

RZR (no RANGER) is #2 in SxS market share (behind RANGER)

ATV

SxS

Military

Bobcat

RZR MY’12 New Products

RZR XP –

Razor Sharp EXTREME Performance

NEW! RZR XP

Fastest Turning in ORV History

Highly Incremental to RZR Line

No Competitor Is Close

More Limited Edition News for ‘12

ATV

SxS

Military

Bobcat

RZR MY’12 New Product

Trail Machines 2X –

RZR 800 and NEW! RZR 570

NEW! RZR 570

Competitive Advantages of RZR 800

Patented low CG, 50”

width, travel & suspension

New ProStar 570 Engine

45HP single-cylinder, high revving DOHC

RZR XP efficient transmission

Outperforms the Competitors BIG SxSs

26% faster than a Teryx

325 lbs lighter than a Commander

Razor Sharp Trail Value SxS

$9,999 MSRP

2011 Sportsman Ahead of Plan; Sportsman Strategy is Working

ORV ATV Market Share Results

Significant share gains across Sportsman segments

Sportsman leads in both “value”

and “premium”

segments

Sportsman 500HO and Sportsman 850XP

ATV

SxS

Military

Bobcat

Sportsman MY’12 New Products

More Power and More Value for MY’12

NEW! MY’12

Sportsman 850H.0.

NEW! MY’12

Sportsman 400, 500, 800

77HP –

For the Same Money

20% More Acceleration

#1 Customer Request

21% More Capacity

New Kenda Tires

#2 Customer Request

ORV Overall Results

RANGER –

Consistent incremental growth

RZR –

Consistent incremental growth

Sportsman –

Consistent share growth

Bobcat –

Partnership is on-track

Bobcat Partnership Strategy

Bobcat Partnership Strategy = Powerful Opportunity

Off-Road Vehicles Manufacturer

Compact Construction Manufacturer

Bobcat Partnership Results

Bobcat Retail –

Gaining Momentum

Bobcat Ship –

Ahead of Plan

Bobcat Co-Developed Products –

On-Track

Bobcat Delivering Results –

Potential Remains

ORV Margin Expansion

Cost Down –

Engineering and purchasing

Pricing –

Leveraged targeted opportunities (remain competitive)

Monterrey –

Impact just beginning

ORV = Strong Margin Expansion Results

ATV

SxS

Military

Bobcat

ORV Future Strategy Summary

The Future Looks Bright for Off-Road Vehicles

Incremental

SxS Growth

Profitable

ATV Share

Expand

Margins

Bobcat

Partnership

Strong RGR product plan

Strong RZR product plan

SxS market has upside

Sportsman strong

Still room to innovate

Margin plan strong

Monterrey just starting

Proven track record

Dealer Inventory healthy

Gaining momentum

Co-developed next

Strong commitment

RANGER –

Ahead of plan and poised to grow

RZR –

Ahead of plan and poised to grow

Sportsman –

Ahead of plan and poised to continue winning

Bobcat –

Ahead of plan with lots of opportunity

7-27-10

VIDEO

7-27-11

Snowmobile Industry Overview

Worldwide Industry Retail:

Outlook for Industry:

Industry will be up slightly in near term. Potential for modest

continued growth with snow fall & economic recovery.

Large installed base generates lucrative parts, garments &

accessories business

95% repeat buyers with high expectations.

Competition

7-27-11

Snowmobile Industry Demographics

Large, Stable and Active Base

7-27-11

State

Snowmobile

Market

Snowfall good to great last winter

across North America.

Polaris only OEM to gain market share.

Dealer inventory levels lowest since

1997.

Enthusiast base purchasing premium

products. Ultimate segment growing fastest.

Promotional spending was reasonable last season.

Dealer profitability OK due to service business & better inventory mix.

Polaris dealer count stable.

EPA impacts MY ’12. Polaris is positioned to meet requirements.

Snowfall Remains the

Key for The Industry

7-27-11

Snowmobile Industry: 2010/2011

North America

Growth in Mountains, Crossover & Utility

Industry By Segment

Industry By Engine Size

Industry By Engine Type

Polaris Highlights

Biggest retail % increase since 94/95

Dealer inventory lowest in 16 years

5 of top 6 selling models in the industry

Ultimate market share up 10 points

Gained market share in every region of NA

Solid #2 in NA market share again

Selling Points

1) On Trail Performance: “Heart of a Rush”

2) Off Trail Capability: “Soul of a Crossover”

3) Consumer Built: Wind Protection, Seat, Storage

7-27-11

Adventure

New Products: MY ’12

Selling Points

1) Performance without Compromise

2) Pro-Ride Chassis + Premium Features

3) Lock & Ride for Snowmobiles

30% of NA Orders; Big Share Growth Opportunity

800 Rush LE

600 RMK

600/800 Switchback

Selling Points

1) Pro-Ride Chassis, 431 lbs

2) 600 LE engine: “Overachiever”

Selling Points

1) Snow Check Exclusive

2) Cobra Track + Rox Riser + Premium Shocks + More

Snowmobile Quality

7-27-11

Reliability/Durability #1 key performance criteria for Polaris sled buyers

Snowmobile quality has improved significantly!

Net promoter scores (NPS) improved 15% to #2 in industry

Warranty claim $ and problems per 100 vehicles down

MY ’11 RMK NPS was industry leading in its segment.

MY ’11 800 engine improvements worked.

Longer term focus:

Validation and testing …

lab + field + “Real World”

Supply base and manufacturing

Industry Leading Product Quality

Remains Our #1 Goal

It’s a brand I can trust

Durable: Vehicle lasts over the long haul

Reliable: I can always trust it not to breakdown

Snowmobile Outlook

7-27-11

2011 Calendar Year:

MY ’12 product intro exceeded expectations, orders up > 30%

Revenues expected to be up approximately 40%

Snow check sales up over 70%.

International retail up: Sweden/Norway solid year; Russia growing.

Retail focus on installed base; expand demos.

Longer Term Road Map …

No Major Changes:

Drive towards industry leading quality with a powertrain focus.

Product:

ride

handling

progressive

rear

suspension

light

weight.

Grow worldwide market share.

Product Innovation & Quality Keys to Success

7-27-11

COMPETITION:

Aftermarket: i.e.; Parts Unlimited, Tucker Rocky,

Western Powersports, MotoVan, Indirects: Other OEM’s

Pure Polaris Overview

Service Parts, Accessories, Apparel & Financial Services

49,000 SKU’s, $344 Million in Sales in 2010

Highest Gross Margins

Top Selling Commodities

Polaris Advantages

Cabs/Cab Components (ORV)

The Brand

Winch Kits (ORV)

Closer to the Customer

Oil

Fill Rates / Availability

Plow Kits (ORV)

Proprietary Components (Parts)

Brushguards (ORV)

Wholegood integration (Accessory)

Lock & Ride (ORV)

Solution Focus (Accessory)

Rim/Wheel (ORV/Victory)

Tracks (ORV)

Jackets & Bibs (Snow)

7-27-11

PG&A Strategic Trend –

2000s

Decade of Growth and Margin Expansion

40+% Operating Profit Margin

10 Year Average Growth Rates:

Revenue: 7% (detailed below)

Operating Profit: 12%

7-27-11

APPAREL

PARTS

50%

ACCY

47%

ORV 74%

2010 PRODUCT MIX BY GEOGRAPHY

PG&A Revenue Mix

2010 PRODUCT MIX BY PRODUCT LINE

2010 PRODUCT MIX BY BUSINESS

Revenue Growth Drivers:

SxS Accessories + Bobcat

International Parts & Accessories

SxS Parts

Victory Accessories

Acquisitions: Indian, GEM

INT'L. 16%

CANADA

16%

US 68%

7-27-11

Marketing & Merchandising

More resources on growth dealers

In-dealership merchandisers

Pure Retail Excellence Program

Free fixtures & signage

Drive salesperson effectiveness

Easy to use dealer catalog

"Go–To–Market" guides: New products,

sales programs, retail tools & displays

Win In The Dealership

Before

After

Vermillion, SD distribution center

381K sq. feet; expanded in ‘08

State of the art facility

Ship to 130 countries

3,000 dealers worldwide

7 Subsidiaries, 40 distributors

2 shifts,140 people

Complete, fast, accurate shipments

97+% fill rate

99+% of orders in by 3pm shipped same day

99+% pick/pack/ship accuracy

Freight

Free freight daily orders > $300

Tier level determines timing

Orders: 80+% of sales are daily orders

500,000 orders processed

4,000,000 lines picked

PG&A Distribution

Timely, Accurate Shipments; Productivity Driven

Operation

Innovation Drives Sales

RANGER

: 40 New Accessories

Pro-Steel™

Cab Enclosure

Crew Sport Roof

Poly Flip-up Windshield

Ranger SSV Overhead System

RANGER RZR

: 40 New Accessories

Lock&Ride

Tinted Roof

Lock&Ride

Half Windshield

RZR 4 Aluminum Roof

Low Profile Front Bumper

LED Light Bars

Sportsman

: 20 New Accessories

Polaris HD 2500lb Winch

Sno-Glide Poly Blade

8-Spoke XP Rim

Victory: 15 New Accessories

Cross Bike Hard Lowers

Klock Werks

FLARE™

Windshield

Stage 1 Tri-Pro Exhaust

Stage 1 X-Bow Exhaust

Apparel: 100+ New Items

Tenacity Helmets

Tekvest

Protection

Victory: Touring Textile Jacket

Lock&Ride

Fast Clamp

Plow Blade

Polaris HD 2500lb Winch

Pro-Steel™

Cab

Industry-Leading Quality, Fit & Ease of Installation

7-27-11

Retail Financial Services

Retail Credit/Other Services Income

Approval Rates

Credit Penetration

Partner Status:

(No Credit / Funding Risk)

HSBC Revolving: Expires October 2013.

NA credit card business is for sale.

Sheffield Installment: Expires Feb. 2016.

ORV focus. Profit sharing opportunity.

GE Installment: Expires Feb 2016.

Motorcycle focus.

Extended Service Contracts: Assurant

FICO Scores

$8.0

7-27-11

$455

$498

$555

$710

$723

2007

2008

2009

2010

2011

$6.1

$6.5

$12.6

$13.6

$13.2

$13.9

2007

2008

2009

2010

2011E

YTD

2010

YTD

2011

Wholesale Credit to Dealers

Joint Venture Partnership with GE for

Dealer Financing in U.S. –

Polaris

Acceptance

Established in 1996. Stable relationship.

Shared 50/50 equity, income and risk

Receivables funded by GE debt

Expires in 2017, purchase option

Dealer repossessions are stable, within

expectations

Credit losses well less than 1%

Dealer credit availability / capacity not an issue

Other Geographic Markets

Canada dealers with GE; new agreement signed

in 2011; expires 2017.

UK, France, Germany, Australia subsidiaries

finance dealers through GE –

no material

changes in 2011

Other foreign subsidiary dealers & international

distributer’s receivables carried on Polaris

books

Receivable Balance –

U.S. Dealers

($ in millions)

Wholesale Credit Income

($ in millions)

Competitive Advantage for Polaris and Dealers

$425

7-27-11

Summary

Snow

Product key to share growth …

90% of line-up new MY ’10 –

MY ‘12

Large, stable and active installed base

Solid cash flow business that is growing again

PG&A

Proven ability to grow sales and margins

Innovation drives growth. Industry leading integration with vehicles

Highest margin opportunity for both Polaris & our dealers

Great cash flow generator

Financial Services

External environment stable. Maintain partnerships.

Approval rate maximization focus. Selling Polaris products #1 goal.

No balance sheet or funding risk for retail credit.

North American

Sales & Corporate Marketing

Mike Jonikas, Vice President

July 27, 2011

Agenda

•

Polaris North American Sales Results

•

Dealership Network Health Update

•

Polaris Roadmap

Driving Retail Growth With Dealers

Winning Product + Winning Support Programs + Dealer Network Partnership

-1%

+17%

Retail Before Orlando 2010

(R12 ending June 2010)

Retail Since Orlando 2010

(R12 ending June 2010)

Strong Polaris / Victory Retail Sales Growth in North America

Network Brand Value Much Stronger

Polaris Accelerated to Strong #2 Position within Powersports

Strong Polaris / Victory Retail Sales Per N.A. Dealership (R12 ending March 2011)

Dealership Count Growth

Leveraging Polaris Momentum & Business Model Advantage to Win

Polaris / Victory

Polaris / Victory N.A. Dealership Count Growth (1Q’2011 % chg vs. 1Q’2010)

Polaris N.A. Dealer Network Health

Polaris Positioned to Lead & Win

•

Polaris Retail Selling Margins

RANGER, RZR, and Sportsman 500 HO

Victory Cross and Highball

RMK and RUSH snowmobiles

PURE accessories

•

Dealer Inventory Levels

Now in-line with retail sales trends

For ATV, Victory, and Snowmobiles

•

Polaris Business Model Advantage

MVP segment stocking

V.I.P. retail selling program

•

Dealer Net Income is Stressed

Dealers aligned expenses with revenue

Most are reluctant to invest, yet

Profitable outlook with industry growth

•

ORV Product Availability from Factory

Challenging with strong retail results

Improved ship date communication

•

Further Business Model Transformation

Expand MVP segment stocking

Shorten order to ship lead-times

Improve retail selling practices

Dealer Optimism

Improvement Opportunities

Polaris Roadmap

N.A. Powersports Distribution Leadership

Industry Leading Dealer Retail Selling Practices

Strong Dealership Count Positions

Right Product, at Right Place, at Right Time

Lead Best Dealership Retail Selling Practices

Strong dealership participation with V.I.P. program

More dealerships utilizing more retail selling tools

2. Build Strong Dealership Count Positions

Leadership positions within key volume markets

3. Max Velocity Program Advantage

Right product, at right place, at right time

Leading customer satisfaction

Best in Powersports PLUS

Best Dealership Retail Selling Practices

Strong Dealership Participation with V.I.P. Program

Increase the Number of Retail Selling Tools Utilized by Each Dealership

Build Towards Industry Leading Retail Behaviors

pt. retail sales lift advantage

Use more tools and sell more units

units

Stronger Dealership Count Position

Properly Penetrate Key Volume Markets

1Q 2011 Count

Long Range Plan

Achieve Industry Market Segment Leadership Positions

With High Quality Dealership Partners

SxS plus ATV

Snowmobiles

Motorcycles

Max Velocity Program

Improve ORV Product Availability from Factory

Phased Roll-out of MVP Segment Stocking for Victory Motorcycles

Right Product, at Right Place, at Right Time

+9 pts

+11 pts

Mike Jonikas, Vice President

July 27, 2011

***

********

Agenda

•

On-Road Vehicle Division Mission

•

People Mover & Light Duty Hauler Industry Overview

•

Global Electric Motorcars Roadmap

On-Road Mission

2009

Actual

2011

Guidance

$53M

+60% to +65%

Making Revenue Growth Happen Right Now

$82M

2010

Actual

On-Road Mission

2009

Actual

2011

Guidance

$53M

+60% to +65%

Pushing for More Growth to Deliver Our Aggressive Revenue Goal

$82M

2010

Actual

$700+M

Long Range

Plan

On-Road Roadmap

1. Develop Sizeable Heavyweight Motorcycle Business

2. Enter Segments Beyond Heavyweight Motorcycles

3. Create Global Brand and Distribution Presence

1. Penetrate Market Segments Poised for Growth

2. Pursue Leading Positions In Selected Growth Markets

3. Apply Polaris Vehicle Applications Innovation

Polaris Motorcycle Growth

Small Vehicle Business Development

Small Vehicle Business Development

*************

************

***

Small Vehicle Business Development

$300+M

$1M

2009

Long Range Plan

1. Penetrate Segments Poised for Growth

People Mover (PM)

Light Duty Hauler (LDH)

2. Pursue Leading Marketing Positions

3. Apply Polaris Product Innovation

Business Development Strategy

Revenue Goal

PM & LDH Market Overview

$1.6 Billion Global People Mover & Light Duty Hauler Market

$0.6B

100%

People

Movers

(PM)

Used

Golf

Cars

Low

Speed

Vehicles

Utility

Shuttle

Vehicles

Golf

Cars

Light

Duty

Haulers

(LDH)

Used

Golf

Cars

Golf

Cars

Industrial

Vehicles

Utility

Vehicles

Golf

Cars

Low

Speed

Vehicles

Industrial

Vehicles

UtilityVehicles

UtilityShuttle

Vehicles

Others

Used

Golf

Cars

LRP Outlook is Basis for Assessment

Highly unattractive

Highly attractive

Growth

Outlook

5 -

10%,

favorable ageing

demographics

5 -

Competitive

Conduct

Fragmented, golf cars

and purpose built vehicles

Fragmented, and expect

LCC OEM entrants

Barriers

to Entry

Volume scale of used

fleet golf cars

Product varies largely

by user application

Customer

Behavior

Fleet TCO,

or 3

vehicle

for consumers

Durability, TCO

Overall

Attractiveness

Attractive adjacency with

distribution and innovation

Attractive adjacency

with distribution and

innovation

People Mover (PM)

Light Duty Hauler (LDH)

Operating

Margin

10 -

15%

15+%

PM & LDH Market Trends / Outlook

PM & LDH Vehicle Landscape

People Mover (PM)

Light Duty Hauler (LDH)

PM & LDH Competitive Landscape

Attractive dealer distribution network presence

Primary business = price sensitive fleet golf buyer

Also sell into PM & LDH markets (with new and used fleet golf units)

Extensive dealer distribution network presence

Trusted brand choice amongst purchasing agents

Limited vehicle portfolio (gas powered)

Leading niche players with small annual revenue levels

Unique and complimentary electric vehicle portfolios

Nominal product innovation historically

Highly fragmented distribution network presence

PM & LDH Customer Profile

End User

Distribution

People Mover (PM)

Light Duty Hauler (LDH)

Private Fleet

B2B Dealers

Government

B2B Dealers

Master

Planned

Community

Consumers

Golf Dealers

Market leader in low speed vehicles

Existing business operations

Well-known electric vehicle brand

In-field mobile service expertise

Make-to-order assembly capability

Non-union workforce

Global Electric Motorcars (GEM)

GEM at a Glance

By Market Segment

Distribution Channel Mix

Sales Revenue

$34M

$39M

$31M

$29M

17%

U.S. GSA

19%

International

62%

People Mover

38%

Light Duty Hauler

GEM Roadmap

Drive Global Electric Motorcars Growth

Stronger and More Effective B2B Distribution Presence Globally

Effective Lead Management Marketing Process

Launch More Competitive Vehicle Offerings –

grow share, enter new segments

Expand Profitable Mobile Service Business Model

Platform for Polaris Growth

Motorcycles

Steve Menneto, General Manager

July 27, 2011

N.A. 1400+cc Industry

50000

75000

100000

125000

150000

175000

2006

2007

2008

2009

2010

Touring

Cruiser

Industry Retail History

Units

Touring

Cruiser

2011 Industry Retail

2011

N.A.

1400+

Industry

slightly

–

+2%

YTD

Touring growing at over 10%

Cruiser Industry decline is moderating vs. last year

N.A. Victory Performance

Driving a Healthy Retail/Inventory Balance

+41%

49%

2011 N.A. 1400+cc Competitive

Summary

Rank

Manufacturer

Strategy

Share Trend

Harley

Aspiration Brand

Most Complete Product Line-up

Huge Installed Owner Base

Victory

Modern American Styling

#1 Owner Satisfaction (dealer, product)

Metrics

Trusted Brands

Breadth of Distribution Bases

Triumph

Historical Brand

Victory Growing Share In Difficult Market Conditions

Polaris Heavyweight Motorcycles

Brand

Position

Customer

Price

Place -

Distribution

Product

American

Heritage

Premium

Die-Hard

Prestige

Accessible

Exclusive

“Classic”

Quality

Premium Product

Experience

American

Heritage

Die-Hard

Market

Benchmark

“Exclusive Plus”

“Classic”

Improving Quality

American

Modern

Attitude

Performance

Enthusiast

Performance

Growing

Distribution

Modern

Performance

Quality

Go To Market with Premium & Performance Brands

Indian Strategy

Integrate Indian Operations into Spirit Lake

Improve Product Quality & Performance

Establish a Premium Global Distribution Network

Build a World Class Team

Victory Strategy

Expand Victory Touring Business

Strengthen Victory Proposition With Core Customer

Lean Operations

International Sales Growth

Expand Global Distribution Presence

CROSS COUNTRY TOUR

US MSRP:

$21,999 W/ABS

US MSRP:

$21,999 W/ABS

Industry Leading Performance, Comfort and Storage

Victory Branding

Video

Strengthen Victory Proposition

Leverage Industry Leading Dealership & Product Satisfaction

Cruisers –

New Styling & More Value

“More powerful than the Harley and able to leap small curbs in a single bound,

the High-Ball serves notice that there is more than one American in the game.”

–

CYCLE WORLD

Lean Operations

Improve Dealer Inventory Turns

Units per Dealer down 17% …

time to Improve

Stocking

Mix of Non-currents to Currents…

healthy at 80%

current

Victory MVP Southeast Pilot

Test & Adjust …

rapid expansion

Improve Victory Flexibility to Meet Customer Demands

Move to Pull Based Production System

Reduce Victory Lead Times

Enhance Worldwide Logistics

Victory International

International Retail +59% 2011 YTD

Expand Global Distribution

Growing N.A. & International Distribution

1H 2011 added 26 new dealers

in North America

Polaris Industries Inc.

100

Q & A

Steve Menneto

General Manager

Motorcycles

July 2011

Jul-2011 AM

101

Polaris Industries Inc.

Break

Polaris Industries Inc.

Analyst & Investor Meeting

July 27, 2011

Dave Longren

V.P. –

Chief Technical Officer

103

July 27, 2011

Military Business

2011 Highlights

Added +150 Years of Defense

Leadership Experience In 1H

Began Delivery of National

Guard 5 YR $67M Contract

Awarded Ranger EV R&D

Contract

Won Afghan National Police &

Israeli Defense Contracts

Delivered 1st

Unmanned Vehicle

for Use In Afghanistan

Over 3,000 Vehicles In Use In

Afghanistan & Iraq

Sales

Up +100%

Executing Our Plan

Customer Mix

Military Plan

104

July 27, 2011

Positioned For Growth

Leverage Full Line of Ultra Light Mission Support Vehicles

Leverage RZR SW, MVXP, MVRS700, plus Sportsman & RANGERs

Army, National Guard, Air Force, Special Forces, etc.

New Products to Serve More Markets

RANGER Diesel, Electric & Hybrid Vehicles

Unmanned + Very Light Vehicles

Expand Other Government Agencies

Partnerships to Expand Capabilities & Markets

Grow Sales to U.S. Foreign Military Allies

•

Emergency Response

•

Training Facility Support

•

Medical Evacuation

•

Search & Rescue

•

Counter Terrorism

•

Maintenance Support

•

Range Control

•

Border Patrol

Support

Tactical

•

Recon

•

Casualty Evacuation

•

Aviation Support

•

Police/Security Forces

•

Combat Engineers

•

Maintenance Support

•

Training

•

Special Operations

Why POLARIS Ultra Light Vehicles?

•

Low Cost, Affordable

Mobility

•

Light Environmental

Footprint

•

Rugged, Reliable

Workhorse

•

Easily Transported

•

Go Anywhere

•

Global Parts Supply

Practical

Market Leader

July 27, 2011

105

Product Strategy

Low Cost Mobility Solutions

Leverage Off-Road Vehicle Capabilities

Innovation

Utilize the Polaris Innovation Model

Develop Unique Military Solutions and Vehicles as

Required

Unmanned vehicles

Speed to Market

Close Work With Soldiers, Understand Their Needs &

Trade Offs

Rapid Development of Unique Technical Solutions

106

July 27, 2011

Emerging Market

Unmanned Ground Vehicles

Example Vehicle:

Ground Unmanned Support

Surrogate (GUSS)

Increased Demand Safety & Reduced Soldier Payload

July 27, 2011

107

Military Summary

Polaris #1 Ultra Light Military

Vehicle

Winning the competitive battle

Developing key technologies

2011 Results on Plan for a

Record Year

Government budget is a concern

Positioned Well for Emerging

Requirements

Strong Growth Opportunity

July 27, 2011

108

Long Range Sales

Opportunity

Engineering

Dave Longren

V.P. –

Chief Technical Officer

Making Growth Happen -

Engineering

Develop the Most Compelling Products in the

Industry

Deliver the right product at the right time

Open new and adjacent markets

Create Loyal Customers that Promote the Product

& Brand

Industry leading Net Promoter Scores

Maximize customer satisfaction & product reliability

Deliver Value for Customer & the Company

Provide desired consumer features

Create products at the right price & cost

Relentless drive to eliminate waste

110

Driving Growth

July 27, 2011

The Right Product

Well Thought-out Product Plans

Common Design & Architecture Plans

Domestic & International Variants

Development Processes Tailorable to Unique

Product Needs

Small Focused Teams

Utilize Experts as Needed

High Quality Designs

Computer Modeling

Advanced Testing

Continuously Learn & Improve

Actively Use Consumer Feedback Loop

Information Systems that Promote Knowledge Sharing

111

July 27, 2011

+50 Percent Reduction In Time to Market

Increased Market Share All Businesses

Engineering Staffing

Up +40%

Business Strategy

Growth Market Opportunities –

Problem Identification

Focus Group Research, Net Promoter Score

New Growth

Market/Customer

Opportunities

Disruptive

Products

Idea Screening

Product Planning

Investment

Allocation

Company-wide Product Planning

Skunk Work Teams

Individual Contributors

Supplier Ideas, New technologies

July 27, 2011

+3,000 Employees Generating Ideas

112

Engineering Speed To Market

World Class Development Staff &

Process

Internally Developed Design Tools &

Models

Analysis directly to production tooling

Integrated tooling & part cost analysis

Unique Product Segment Testing

Capabilities

Lean Engineering Eliminating Wasted

Time & Expense

Continuous Learning

113

Right Product at the Right Time

July 27, 2011

114

Most satisfied customers for our products

Top Net Promoter Score 90+

Our consumers are recommending our products to friends and Family

Consistent market share gains in all businesses

Consumer Quality

World Class Net Promoter Scores (NPS)

2006

2007

2008

2009

2010

2011

Polaris Net Promoter Scores

Increased Consumer Satisfaction

July 27, 2011

Powertrain

Heart of the vehicle

Control Key Intellectual Property

Common Architecture Designs

Design for Manufacturability & Quality

115

Cost $’s

Per Horsepower

Consumer

Warranty Claims

Number of

Engine Families

Down 35%

Down 25%

Down 65%

Controlling Our Destiny

July 27, 2011

Summary

Driving Growth In Emerging Military Markets

Leveraging our proven innovation capability

Advanced technology development & integrated vehicle designs

Innovation Driving Sales And Market Share Gains

Relentless Focus On Operational Excellence

Speed to market

Reduced costs

Improved quality

High Quality And Performance Powertrains Drive Future Growth

Reliable, high performance, fuel efficient

116

July 27, 2011

Polaris Industries Inc.

117

Q & A

Dave Longren

VP -

Chief Technical Officer

July 27, 2011

Global Market Development

Mike Dougherty, Vice President

Analyst & Investor Meeting

July 27, 2011

119

Global Market Leadership Overview

Polaris International

Sales ($000’s)

$306

$252

Up 20% to 25%

Growth

2011 Objectives

Double Digit Sales Growth

Further Strengthen Core EMEA business

Develop new markets –

BRIC focus

Develop new partnerships –

China / India

Polaris International At a Glance

43 Distributors and 9 subsidiaries

–

130 countries

Approximately 1,000 independent dealers

77% of business is in EMEA

67% of Revenues are Off-Road Vehicles

#1 in ORV market share in Europe

Goal: Grow International to >25% of

Total Sales in 5 Years

2010

2015

>25%

15%

Global Footprint 2016

120

Regional HQs

JV / Mfg / Eng Ops

Subsidiaries

2011

Polaris International Locations

Solid Growth + New Market Development

International Division 2011 –

June YTD

Grow:

+28%

SxS & Victory Driving Growth. All Products & Regions Growing.

EMEA:

+23%

North European Subs + Russia & UAE

APac:

+54%

Aus +47%, China gaining momentum, & Polaris India ready for 2H

LatAm:

+40%

Regional SxS growth. Polaris Brazil ready for 2H

Int’l Sales YTD ($ Millions)

2011 YTD

Revenue by Geography

2011 YTD

Revenue by Business Unit

EMEA

77%

Off-Road

Vehicles

On-Road

Vehicles

PG&A

Snow

121

28% Growth

$195

$153

AusNZ

11%

Asia

LatAm

122

International YTD 2011 Sales

2010

Currency

ORV

PG&A

Victory/

Snow

2011

1st

Half 2011

$153

$11

$22

$195

Total Intl

% Change in Total International Sales

Volume

12%

Product mix and price

Currency

28%

Sales growth continues to outperform Company expectations

SxS up over 50%

Victory/On-Road up over 45%

ATV up over 10%

PG&A up over 20%

Gained significant market share in Victory, stable global ORV

Making Growth Happen

On-Road

+28%

123

Business +23% YTD. Maintain growth in 2H.

EMEA Update –

June YTD

HQ :

Opened in March near Geneva. Fully operational. Foundation for future growth

High Growth Markets: Mid East & Russia, Germany On Road. Snow Scandinavia

Protect ORV Markets: France, Italy, UK & Finland. Remain #1 and Gain Share.

Key New Products: RZR XP, Diesel Ranger in UK. Victory gaining share throughout EU.

Financial Performance YTD

New Swiss HQ

Revenue By Product

23% Growth

$151

$123

124

Making Growth Happen in Key Emerging Markets

New Market Development 2011

Russia Growth: Strong Snow and ORV business. On path to be #1.

China Development -

10 Dealers. Yichun Province Order. Building ORV Market

Brazil Penetration –

Building Foundation. Team in Place. SKD production in Manaus

India Footprint -

Team in place. Launch ORV in August, 10 Dealers. Technical Center

BRIC Sales (in millions)

Brazil ORV Launch

SxS Media Coverage

Largest China Dealership

New BAM Dealership

$15M

Up 100% to 200%

Growth

Building ORV Market in China

Continue to Energize Media, and Customers; Opening More Stores

Urumqi Riding

Famous Racer Han Han Endorsement

Yulin Store Opening

Shanghai Riding Event

NEW

RANGER

CREW DIESEL

Diesel is #2 Ranger by volume in 2011 for Int’l

90% Peak Torque @ 1600 RPM

900 Diesel –

24HP Yanmar

55 AMP Alternator

40% More Range

Key MY12 Int’l Products

Diesel Power for 6!

NEW!

RZR XP 900 INTL

All the features found on the RZR S & 4 Intl models

E-Marked Maxxis Bighorns on Painted Aluminum Wheels

Rear Differential

Plus

E-Marked LED Lights

Electronic Power Steering

Parking Brake

Clicker Fox Shocks

New Extreme Performance

The Revolution Continues!

128

International 2H 2011 Plan

Growth Continues

–

Keep ORV Leadership Position

–

Gain More ORV Share w/ SxS

–

Expand Victory Distribution & Market Share

–

Enter Work SxS Segment with Diesel

Strengthen European Business with HQ Opening

Expand Presence in China & Brazil & India

Continue Cultivating Potential Partnerships

Strengthen Core & Develop New Markets

Int’l Rev Trends by Product Line

SxS > ATV in 2012

129

Polaris Int’l Sales ($Millions)

$1B Revenue, Global Footprint, New Markets, On Road

International Division Long Range Plan

Triple revenue to $1B+

Double core business with SxS focus & motorcycle expansion

Significant new business: On road, emerging market products

EMEA still core. Emerging markets = 1/3 Int’l revenue. APAC / LATAM fastest growth.

Revenue By Geography

Revenue By Product Line

$1B+

BOD Jul-2011

130

131

Global Market Leadership

2011 YTD Progress…

Make Growth Happen

>25% of Polaris Revenue

1H PII Int’l Rev ~ 15%

1H Int’l Growth = 28%

FY Int’l Growth = 20-25%

Strengthen Core ORV Business

ORV Market Share

Double SxS Business

EMEA Swiss HQ

Diversifying On Road / Adjacencies

Victory Global Launch

Military

Partnerships

New Market Development

Building BRICs

Develop New Products

Cultivate New Partners

Strong Financial Performance

Sustainable, Profitable Growth

Sales Growth

Margin Expansion

Healthy Balance Sheet

Grow -

Strengthen Core –

Develop New Markets

Operational Excellence

A Pathway To World Class Performance

Suresh Krishna

VP –

Global Operations & Integration

July 27, 2011

Agenda

NA Realignment

Manufacturing Excellence

Supply Chain Execution

Lean Deployment: Polaris Way

Acquisition Integration

133

Analyst -

July 2011

Engines & Exhausts to Monterrey

Tube Fab to ROS

RZRs to Monterrey

RANGERs to Monterrey

Seats & Stampings

to Supplier

Project Management & Teamwork Drive Success

< 6 Months

Analyst -

July 2011

134

Manufacturing Realignment

Analyst –

Jul-11

135

Roseau Transition

Consolidate all ATV

to Line A

Move SxS from

Line D to B

Huge Project Load With Many Transitions

Installed Tube fab

Target Investment in ROSEAU CENTER OF EXCELLENCE: $6M

Emptied Line D and…

Analyst –

Jul-11

136

NA Realignment Update July 2011

Financials

Freight

Watch:

escorts

northbound

loads,

100%

effective to date

Emergency

Response

Plan

developed

and

implemented

GPS

tracking

installed

company

expat

vehicles

Facility

complete

Seat transitions

to Supplier (Woodbridge) &

Stampings (Kapco) complete

Roseau

Tube

Fab

transition

complete,

Monterrey

pilots underway

Monterrey

Headcount:

554

Hourly,

Salaried

Key Metrics

Quality

Solid Start –

Significant Work Ahead

Production Volume on Plan

(in millions)

One Time Expense

$24 -

$26

On track

Est. Total Capital

$35

On track

Annualized Savings

$30+

On track

Monterrey Production Volume

Wholegoods

Warranty

Project Status

Security

Analyst –

Jul-11

137

Monterrey Video

July 14, 2010

Lean Implementation providing Strong Results

Analyst –

Jul-11

138

Manufacturing Productivity

July 14, 2010

Deep supplier relationships driving cost & quality improvements

Analyst –

Jul-11

139

Supply Chain Execution

Japan: No disruption to Polaris parts supply

Fuji

•

Contacted all Tier 1 suppliers

•

Engaged tier 1s to identify

parts availability from their

Tier 2 & tier 3 suppliers

•

Daily calls to monitor parts

availability at supplier’s

factories

•

Monitored all shipments from

suppliers for timely dispatch

•

Purchasing people were in

Japan on site at key suppliers

reviewing and monitoring

situation

140

Analyst –

Jul-11

Commodities: Proactive Management

141

Cost Mitigation Strategies:

•

Financial Hedges

•

Forward Buys

•

Reverse Auctions

•

Supplier Umbrella Contracts

•

Long-term Agreements

Analyst –

Jul-11

NAFTA

63%

Japan

Asia LCC

23%

Europe

Direct OE & Aeon Purchases only –

Tier I Country of Origin.

2011 -

2014 World-wide Procurement

S. America

142

2011: LCC –

24%

2014: LCC –

28%

Analyst –

Jul-11

143

Inventory Reductions

Analyst –

Jul-11

At Stable Levels

•

Eliminate Waste

•

Improve Quality

•

Improve Lead-

time/Delivery

•

Reduce Cost

Analyst –

Jul-11

144

Lean Development: Polaris Way

Driving Significant, Measurable Improvements to our Bottom Line!

145

VIDEO ON LEAN: ROSEAU STORY

Analyst –

Jul-11

Integrating Acquisitions: Polaris

Acquisition Framework (PAF)

Stage / Gate Process for

Integrated Product

Development & Validation.

This process enables:

Speed

Flexibility

Cross-functional

decision making

PDP

A disciplined methodology for

transferring production

processes from one site to

another or supplier.

This methodology enables:

Consistency

Risk mitigation

Process validation

Focus on product quality

& performance

Consistent approach

NA Realignment

Proven Ingredients –

New Recipe for Success

146

PAF

Analyst –

Jul-11

Lean: Polaris Way

Fully embrace the LEAN principles &

tools to make Polaris better.

Eliminate Waste

Margin Expansion

Product & Quality Leadership

Reduce Customer Lead Time

Jul-2011 AM

147

Polaris Industries Inc.

Q & A

Polaris Industries Inc.

Analyst & Investor Meeting

July 27, 2011

Jul-2011 AM

148

Polaris Industries Inc.

Closing Comments

Scott Wine, CEO

Polaris Industries Inc.

Analyst & Investor Meeting

July 27, 2011

Jul-2011 AM

149

Polaris Industries Inc.

Q & A

Polaris Industries Inc.

Analyst & Investor Meeting

July 27, 2011