Presentation Materials

EX-99.1 2 d386966dex991.htm PRESENTATION MATERIALS Presentation Materials

Opening Remarks / Strategy Overview

Scott Wine, CEO

Bennett Morgan, President & COO

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Exhibit 99.1

Analyst & Investor Meeting Agenda

July 2012

Venetian –

Las Vegas

July 31, 2012

8:00

Welcome

Richard Edwards

8:00

Opening Remarks

Scott Wine

8:10

Strategy Overview

Bennett Morgan

8:25

Snowmobiles / Sales & Marketing

Mike Jonikas

8:45

Off-Road Vehicles / Military / Bobcat

David Longren

9:05

Victory & Indian Motorcycles

Steve Menneto

9:25

Break

9:45

PG&A

Steve Eastman

10:05

Small Vehicles (GEM/Goupil) / Financial Services

Scott Swenson

10:20

Engineering / R&D / Powertrain

Steve Kemp

10:40

Operations / Supply Chain / Monterrey /

Suresh Krishna

Acquisition Integration

11:00

Asia Pacific, Latin America (APLA)

Matt Dougherty

11:20

Europe, Middle East, Africa (EMEA)

Matt Homan

11:40

Closing Comments

Scott Wine

11:50

Q&A

Wine/Morgan/Malone

12:00

Lunch / Indian History Truck Tour

1:00

ORV Demo Rides (optional)

Safe Harbor

July 2012

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

including but not limited to management’s expectations regarding 2012 sales, shipments, net

income, cash flow, and manufacturing realignment transition costs and savings, and certain

long-range projections of sales, margins and income 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 2011 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.

Note: Shares and per share information have been adjusted to give effect to the two-for-one

stock split declared on July 20, 2011, payable on September 12, 2011 to shareholders of record

on September 2, 2011.

Scott Wine, CEO

Opening Remarks

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

2012

Half

Financial

Metrics

July 2012

Excellent First Half Results

2012 YTD Actual

Variance to ‘11

Sales

$1,429

+25%

Net Income

$129.9

+35%

Gross Profit %

28.8%

+4 bps

Op Profit %

14.1%

+134 bps

Net Income %

9.1%

+70 bps

Cash Flow $

$78.4

+27%

Shareholder Return

+29%

June 30, 2012 $71.48

June 30, 2011 $55.59

Track Record of Shareholder Return

Continuous Commitment to Enhancing Shareholder Value

July 2012

Return on Invested Capital (ROIC)

Dividends (per share)

Return on Assets (ROA)

Five

Year

Total

Return

July

26,

2007

–

July

26,

2012

Guiding

Principles

Best People, Best Team

Safety & Ethics Always

Customer Loyalty

Performance

Priorities

Growth

Margin Expansion

Product & Quality Leadership

Operational Excellence

Guiding Principles & Priorities

July 2012

Winning the Right Way –

Every Day, Always

Strategic Objectives

July 2012

Best in Powersports PLUS

5-8% annual organic growth

Growth through Adjacencies

$1B -

$2B from acquisitions and new markets

Global Market Leadership

>33% of Polaris revenue

Operations: A Competitive Advantage

Op Ex drives > 200 bps operating margin improvement

Strong Financial Performance

Sustainable, profitable growth

Net Income Margin 10.0%

Expand Net Income Margins

10% of Sales by 2018

Grow Sales

$5 Billion by 2018

Clear Consistent Strategy

$1.6

Billion

>$3.0

Billion

>$5.0

Billion

2009

2014

2018

6.5%

>8.0

10.0%

>9.5%

2009

2014

2018

Bennett Morgan

President & COO

Strategy Overview

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Excellent 2012 First Half

July 2012

Overall good performance, but room for

improvement

Sales & Income up again; margins, inventory less so

Strong N.A. retail sales up 17% YTD

Solid momentum against tougher comps / competition

ORV & Victory performance is Inspiring, Snow

battled impressively

ORV up $215M in 1st Half; Victory up over 30%, Snow

PG&A is building momentum & capability

Highest margin business is up 9%; expect double digit

International sales +13% YTD

EMEA up 9%, but slowing: APLA battling, up 29%

Monterrey performing well –

capacity, quality,

profitable

Acquisition/partnership activity remains high

Net

Income

(in

millions)

Sales

(in

millions)

Expect Another Record Year in 2012

Up 25%

$1,429.2

$1,145.1

1H 2011

1H 2012

$96.0

Up 35%

$129.9

1H 2011

1H 2012

growth in years ahead

retail flat (for season) in down market

Growth & Success Driving Change

What’s

Different

from

Start

2010

July 2012

Powersports industry is growing

Additional $1.5B of growth

Capacity pressures will require future investments

2200+ New people since 2010 –

50% of team; New

perspectives, new capabilities

Much more global –

APLA, EMEA HQ, Monterrey, Goupil…

1,200 new international hires in last 2 years

Our appetite for profitable growth opportunities remains

high

July 2012

North American Retail Sales Trends

Polaris Retail Trends Remain Strong; Industry Growing

-22%

-17%

-4%

11%

20%

18%

13%

19%

15%

11%

17%

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

Q3-11

Q4-11

Q1-12

Q2-12

Victory

ORV

Snow

TOTAL

Industry growing nicely; Polaris retail sales up +17% YTD despite Q1 snow

weakness

North American YTD revenue +27% vs. 2011

PGA +15% in Q2; Strong ORV dailies and program sales

Powersports Highlights

Best in

Powersports Plus

Summer Dealer Show MY’13 Product News

July 2012

Very Strong MY’13 News –

Positive 2H Catalyst

INDIAN

MY13

Chief

Vintage

MY13

Boardwalk

Best in

Powersports Plus

MY13

RANGER

800

Midsize

MY13

Scrambler

850

RANGER

900

RZR 570 LE

MY13 MRZR

206

New

Accessories

ORV

Motorcycles

RANGER XP

(Titan) with

New Lock &

Ride PRO-FIT

LX Cab

MY13

Extreme

Green

(June

‘12)

RFM –

Retail Flow Management

Retail

Store

Challenge

Zone

Unprecedented R&D $ Level Investments to Fuel Future Growth

Research & Development

July 2012

$73.6

$77.5

$63.0

$84.9

$105.6

$61.7

4.1%

4.0%

4.3%

4.0%

4.3%

2007

2008

2009

2010

2011

2012

YTD

R&D $

% Sales

Snowmobiles

Best in Powersports PLUS

July 2012

Off-Road Vehicles

#1 in Powersports –

Core Business Healthy

PG&A

On-Road Vehicles

Polaris Sales (in millions)

FY Guidance: Up mid-double

digits %

# 1 in ORV

Industry retail sales remain

strong

Announced strong MY’13

product

FY Guidance: Down mid-

single digits %

Strong market share gain for

season

MY’13 worldwide order met

expectations

Strong Int’l snow season

FY Guidance: Up 50% to 60%

Victory N.A. retail sales up

high double digits % YTD

Int’l sales up significantly

GEM & Goupil unit sales

growing

FY Guidance: Up low-double

digits %

ORV growth up 15% YTD

On-Road growth up 70% YTD

Launched 200+ MY’13

accessories

Parts

53%

Accessories

45%

Apparel

$870.3

+25%

$1,085.7

1H 2012

SxS

ATV

1H 2011

1H 2012

$15.8

14%

$13.5

1H 2011

1H 2012

$75.8

+71%

$129.4

1H 2011

1H 2012

$183.2

+9%

$200.6

1H 2011

1H 2012

Remain #1 in Ultra-light Segment

1st Half sales up over 2011

Began first shipments of SOCOM

ATV MV850

Strong interest in Military RZR, available Q3 2012

Acquired Resilient Technologies in Q2,

manufacturer of high performance non-

pneumatic tires

Growth through Adjacencies

July 2012

Goupil

GEM

Bobcat Strategic Alliance

Military

Building Businesses with New Customers / Markets

Co-development project on

plan; CY’13 launch anticipated

Dealer inventories remain at

reasonable levels

Bobcat retail sales up modestly

on lower shipments

Strong Q2 dealer orders -

highest level since Q4 2009

Added more than 60 dealers

YTD 2012

2H 2012 focused on Int’l, GSA,

and dealer adds

Cost down and operational

efficiency improvements

progressing well

Some challenges with European

economic headwinds

1st half revenue up over last year

(proforma)

YTD 2012 Sales Growth by Region

Increased ORV market share –

remain clear leader in Europe

Sales up 13% YTD; Currency was negative 3% YTD

EMEA up YTD, but growth slowing due to Western Europe economic

challenges

Asia Pacific strong; Australia and China driving growth

Global Market Leadership

July 2012

Polaris

Sales

(in

millions)

Currencies, Eurozone, Latin America Headwinds; 16% of Sales Outside N.A.

Up low double

digits %

$195.3

+13%

$220.9

1st Half

2011

1st Half

2012

FY 2012

Guidance

Up low double

digits %

+9%

+46%

EMEA

Latin

America

Asia Pacific

Off

Road,

64%

Road,

16%

PG&A,

16%

Snow,

YTD 2012 Revenue by Business

Polaris / Eicher Joint Venture

July 2012

Aligns with Two Polaris Key Strategic Objectives

Proven product development capabilities

World class quality and reliability

LEAN manufacturing know-how

Proven distribution expertise

Growth Through Adjacencies

Global Market Leadership

Signed July 24, 2012

$50 million investment over the next 3 years, shared equally by each partner

Vehicle production anticipated to begin in 2015

a $1.3 billion manufacturer in the commercial

automotive industry in India

Proven expertise in LEAN Engineering

India vehicle manufacturing expertise

In-depth understanding of India and emerging

markets

Experienced vehicle JV partner

50/50 Joint Venture in India

July 2012

N.A. Dealer Inventory

Polaris N.A. dealer inventory up 17% from 2011

ATV dealer inventory about flat from 2011

Side-by-side and Victory Motorcycle inventory up due to:

Continued strong retail demand and new segments

New motorcycle retail flow management system

MVP delivery improvement and shipment visibility

Season-ending Snowmobile inventory up from previous season

N.A. Dealer Inventory June 2012

Delivery Improvement Remains Key Focal Priority and Opportunity

1919

Operations as a

Competitive Advantage

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2008 Actual

2009 Actual

2010 Actual

2011 Actual

2012 Actual

July 2012

Polaris Drivers of Success

Innovative Culture

People and processes that drive innovation

and a passion for performance

Applications Engineering

Capability to develop & refine unique solutions

by leveraging new and existing technologies

and suppliers

Flexible Manufacturing

Manufacturing infrastructure and processes

that enable flexibility and agility

Speed

Corporate systems and structure that enables

consistently superior speed-to-market

This is Our Winning Advantage –

Will Maintain & Improve

Sustainable Competitive

Advantage

Strategic Objectives

Best in Powersports PLUS

Growth through Adjacencies

Global Market Leadership

Operations: A Competitive Advantage

Strong Financial Performance

Q&A

Scott Wine, CEO

Bennett Morgan, President & COO

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Snowmobiles

Mike Jonikas, V.P. -

Snowmobiles, Sales & Marketing

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Analyst July 2012

Snowmobile Video

Snowmobiles

Industry Overview

Analyst July 2012

Snowmobile Industry Outlook

Growth in Ultimate Segment

Growth in Mountain & Crossover Segments

Industry Retail Units Stable

Nominal growth with favorable snow fall

Registered consumer owner base is sizeable & stable

Average age of buyer slightly younger

Number of snowmobile clubs is stable

Miles of snowmobiling trails is stable

95% repeat buyers with high product expectations

111k

123k

122k

09/10

10/11

11/12

Snowmobiles

Mountain

29%

Performance

26%

Crossover

22%

Utility

14%

Touring 9%

Ultimate

47%

Core

32%

Entry

21%

Analyst July 2012

Polaris Retail Sales Growth (11/12 season)

24%

Scandinavia & Russia

0.5%

North America

Despite Weaker Snowfall Conditions

Excellent Snowfall Conditions

Russian Economic Tailwinds

Snowmobiles

Analyst July 2012

Polaris Market Share Growth

Polaris Highlights During 11/12 Season

Polaris is Definitive Market Share Gain Winner 2 Years Running

Competitor

Market

Rank

10/11

Season

11/12

Season

Largest market share gainer -

two years in a row

Highest Polaris market share level since 03/04 -

strong #2 share position

Doubled retail sales within the all-new Switchback line

Industry

leading

sell-thru

(yet

eroded

-7%

vs.

prior

year

given

weak

U.S.

flatland

snow

fall)

Snowmobiles

Growth Strategy Roadmap

Analyst July 2012

1. Terrain Dominating Sleds

Industry leading consumer satisfaction

Innovative chassis performance

2. Transform Go-to-Market

Stronger consumer demand creation presence

More effective dealership retail planning

3. Margin Expansion

Throughout the P&L

Staying Pinned!

Snowmobiles

MY’13 Product Innovation

Terrain Dominating Sleds

Analyst July 2012

Quality Improvement Continues

High Quality New Sleds Drive Market Share Gains

Strong Consumer Satisfaction Results

Driving Polaris to World Class Status

Strong Consumer Interest & Web Traffic

Dealer Orders Crushed Expectations

800 Pro-RMK

600 Indy SP

Polaris Net Promoter Score

MY’09

MY’10

MY’11

MY’12

Snowmobiles

Transform Go-to-Market

FEBRUARY

10 ,

2012

More Effective Dealership Retail Event Plans

Transform Go-to-Market

Analyst July 2012

Maximize Customer Traffic into Dealerships

Help Dealerships Close More Sales During Key Periods

Snowmobiles

Margin Expansion

Excellent Progress to Date -

Further Opportunity Exists

Mix Benefit with segment trends in ultimate, mountain, and crossover

Strength based pricing moves

Value Analysis / Value Engineering cost reduction

Quality improvements

Analyst July 2012

Gross Profit %

Operating Margin %

Snowmobiles

2009

2010

2011

2012

Snowmobiles Summary

Analyst July 2012

Roadmap For Future Growth

Generating Profitable Growth

Retail sales

Market share

Margins

Terrain dominating sleds

Transform go-to-market

Further margin expansion

Snowmobiles Sales

1H 2011

1H 2012

FY 2011

FY 2012

Guidance

$15.8M

-15%

$13.5M

+48%

$280.0M

Down mid-

single digits %

Snowmobiles

Market Share Expected to Grow

Q&A

Snowmobiles

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

N.A. Sales & Corporate Marketing

Mike Jonikas, V.P. –

Snowmobiles, Sales & Marketing

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Agenda

On Track to “3-Peat”

During 2012

Generating

strong

business

growth

results

for

the

year

row

Retail sales, market share, network brand value, and dealership count

Roadmap To Drive Future Growth

Flow

business

model

leadership

ORV

MVP,

Victory

RFM

Build strong dealership count positions

Analyst July 2012

N.A. Sales &

Corporate Marketing

Growth: Polaris N.A. Retail Sales

Analyst July 2012

+17%

+15%

+17%

-16%

2009

2010

2011

1H 2012

N.A. Sales &

Corporate Marketing

Strong #1 in Powersports

Growth: Polaris N.A. Market Share

Analyst July 2012

N.A. Sales &

Corporate Marketing

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

22.0%

24.0%

26.0%

2005

2006

2007

2008

2009

2010

2011

2012F

(Using Total Motorcycle Industry)

Honda

Polaris

Harley Davidson

Yamaha

Kawasaki

Can Am

Suzuki

Arctic Cat

Deere

Kubota

KTM

BMW

Piaggio

Triumph

Ducati

Other

Growth: Polaris Network Brand Value

Analyst July 2012

Harley

Polaris

Honda

BRP

Kawi

Yamaha

Arctic

Suzuki

OEM Retail Sales Units Per N.A. Dealership During 2011

N.A. Sales &

Corporate Marketing

Growth: Polaris N.A. Dealership Count

Analyst July 2012

2 Year

CAGR

for

Dealership

Count

(1Q

2012

vs.

2010)

Polaris

Harley

Arctic

Honda

Kawi

Yamaha

Suzuki

BRP

+2%

-2%

-4%

-5%

-6%

-8%

N.A. Sales &

Corporate Marketing

Analyst July 2012

Roadmap to Drive Future Growth

Growth

Strategy

Remains

the

Same

Accelerating

Execution

Flow Business Model Leadership -

ORV MVP, Victory RFM

Maximize retail sales

Maximize market share

Maximize inventory turns

Build Strong Dealership Count Positions

Leadership positions within key volume markets

Best in Powersports PLUS

N.A. Sales &

Corporate Marketing

Convert Motorcycles to Flow Model

Flow Business Model

Strong Results Since MVP Launch

Dealer level stocking & inventory levels

Stronger retail selling practices

Growth: retail sales & market share

Next Generation of MVP Leadership

Market specific stocking profiles

Greater shipment date visibility

Even more effective retail practices

Victory Retail Flow Model (RFM)

Dealer preparations initiated June 2012

Starts August 2012 with MY’13 shipments

Rapid transition period through spring 2013

Key Principles for Victory RFM

Dramatically faster vehicle delivery

Market specific stocking profiles

Dealer re-order with retail transaction

Indian will launch with RFM

Analyst July 2012

Polaris Business Model Leadership

Drive ORV Leadership Further

N.A. Sales &

Corporate Marketing

Strong N.A. Dealership Counts

Industry leading product innovation and consumer satisfaction

Strong OEM marketing and program support plans

Flow business model leadership

Analyst July 2012

2011 Actual

Long Range Plan

ORV:

leadership position

Snow:

leadership position

MC:

fully penetrate top markets

SxS plus ATV

Snowmobiles

Motorcycles

Properly Penetrate Key Markets

Polaris Leadership Position in Key Markets

1500

800

400

N.A. Sales &

Corporate Marketing

Q&A

N.A. Sales & Corporate Marketing

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Dave Longren,

V.P. -

Off-Road Vehicles

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

ORV Business Breakdown

RANGER & RZR

#1 PRIORITY; SPORTSMAN REMAINS SIGNIFICANT

Bobcat

#1 business

for revenue

and profits

Large business

with significant

profits, growing

again

Incremental

Growth

Opportunity

RANGER

& RZR

All

Other

ATV

All

Other

Bobcat

Defense

ATV

SxS

July 2012

% of $ Sales

$85k

$77k

$75k

92%/8%

89%/11%

28%

23%

36%

Farming/Ranching

Rec/Trail

Property

Dunes

Farm

Hunt

Desert

Hunt

Rec/Trail

Hunt

Property

ORV Customer Profiles

RANGER

= MOSTLY WORK; RZR

= MOSTLY PLAY; SPORTSMAN = BOTH

Consumer

Profile

July 2012

Age

Income

Male/Female

1st Time Owner

Primary

Usage

ATV Industry Trends

5 Year CAGR = -22%

Fcst moderate decline in 2012

2012 Actual = Single Digit Growth

SxS Industry Trends

5 Year CAGR +23%

Continued double digit growth in 2012

Industry Growth on Plan

ORV Industry Trends

Growth Rates

Expect Overall ORV Industry Up Modestly in 2012

ATV

SxS

July 2012

Secure a Competitive Advantage

Continued MVP Improvements

Shipping to retail demand (ATV & SxS)

Maintained Flat SxS dealer inventory level through spring sale period

(March thru May 2012)

Year-over-year inventory up due to new models

Delivering 90%+ orders on or before promise dates

Reduced order to ship lead time 50%+

Focus on dealer inventory accuracy & turn management

Manage model stocking requirements & inventory at the dealer level

Manage new model dealer inventory additions

July 2012

Best Overall Share Performance In Polaris History

Upper 20’s Share In ATV; SxS Estimated 40 Share

Overall ORV Share Estimated at upper 30’s

TWO TIMES SHARE OF NEXT COMPETITOR

ORV Market Share Results

July 2012

ORV Product Advantage

Breadth & Depth of Product Offering

#1 Market Share

Industry Leading Products

Innovation

Speed to Market

Customer Focus

July 2012

Winning the Competitive Battle

Innovation Drives Share Gains

Understanding customer needs, drives continued product improvements

Constantly improve Quality & development of advance technology features

Create new market segments:

SxS trail riding High performance multi passenger desert riding, Value based work products

July 2012

ORV Overall Results

RANGER

–

Consistent incremental growth

RZR

–

Consistent incremental high growth

2009-2012

July 2012

Sportsman – Consistent share growth

Military & Bobcat – Adjacent high growth

Aggressive Plan to Drive Growth

ORV Growth Plan

July 2012

Leverage New Products

to Drive Growth

Maintain consistent innovation

Incremental

Breakthrough

Profitable ATV market share growth

Expanded international focus

Integrated MVP Retail

#1 Advertising, Expanded Consumer Awareness

Next level of “The Right Product at the Right Time”

Invest & Grow Adjacencies

Grow Military

Bobcat + Prepare Co-Developed Vehicle Launch

Expand Margins

Value Chain Optimization

Monterrey utilization

Price optimization, cost reduction,

product & logistics

Off-Road Vehicles

OFF-ROAD 2012 RESULTS

July 2012

Growth In All Segments

POSITIONING + CUSTOMER SOLUTIONS

MARKET / BRAND POSITION

RZR

the

ONLY

Line

Recreational

Sport

SXS’s

with

2008 2009 2010 2011 2012

WHY WE CONTINUE TO WIN!

CUSTOMERS

RZR

Family Branding / Positioning

Industry Leading Market Segmentation Driving Growth

July 2012

Optimized Mass Placement

Class Leading Center of Gravity

Precision Response

Chassis Optimization

Application Based

Wheelbase

Class Leading Power to

Weight Ratio

High Performance & Recreational Enthusiasts

Wishes to Involve More People in Experience

Not Willing to Compromise Performance for Experience

T H E U L T I M A T E C O M B I N A T I O N O F

Off-Road Vehicles

Off-Road Vehicles

RZR Continues to Win

RZR Family

July 2012

Off-Road Vehicles

RZR Continues to Lead

Winning On The Podium

GNCC Racing

WORCS

BEST in the DESERT

Winning With The Press

Dirt Wheels

“For our money, the Polaris RZR XP 900 is still the most fun to drive, overall

best-handling and quickest sport UTV you can buy.”

UTV Action

“The RZR XP 4 900 is the ultimate new-for-2012 UTV, a long travel limo”

July 2012

RZR XP Competitive Analysis

RZR XP vs. Wildcat Acceleration Comparison

Competitive Feature Comparison

RZR 900 XP Dominates the Competition

July 2012

Continue to Raise the Bar -

Industry leading

New MY'13 RZR Products

RZR

Trail

570 LE

Electronic Power Steering

Tighter turning with unlocking rear differential

Secure dry storage with built in Lock N Ride storage case

800’s

Improved ground clearance & handling with new high

performance dual rate springs

Engine Braking System

RZR XP’s

Improved Ride & Handling with exclusive use of

Walker Evans shocks

July 2012

Improved down hill control with Engine Braking System

All RZR’s 50+ Consumer Feedback Improvements

2009

2010 2011 2012

Projection

INCREMENTAL NEW PLAYS WORKING

RZR

Retail Results

July 2012

Strong

incremental

RZR

growth

new

segments

launched

Clear leader in all recreation segment

RZR

(no

RANGER)

SxS

market

(behind

RANGER)

New Segments & Dominant Products Driving Growth

RANGER

Family Branding / Positioning

CUSTOMER SOLUTIONS

MARKET/BRAND POSITION

WHERE WE GROW!

HARDEST WORKING.

Best-In-Class Power

On-Demand True All-

Wheel Drive

Monstrous Towing

Lock & Ride Cargo

System

SMOOTHEST RIDING.

Industry Leading Front and

Rear Suspensions

Best-In-Class Ergonomics

Legendary Smooth Ride

Electronic Power-Steering

(EPS)

2008 -

2013

XP 800

400 Mid

500 EFI Mid

Crew 500

Diesel

Crew Diesel

XP 900

800 Mid Size

July 2012

Big Bore Performance Midsize Chassis Value Price

NEW!

MY'13 RANGER 800 Midsize

Proven Midsize Chassis Design

50+ Quality Improvements

Proven Powerful 800 EFI

Engine

Strong Work Capability

Great Recreational

Performance

Top Speed 55 MPH

Price $10,499

July 2012

Whole New Class of SxS Utility Vehicles -

Ranger Reinvented

New MY13 Ranger 900 XP

Completely Redesigned Chassis

500+ Improvements

New 900 EFI Purpose Built Work

Engine

Improved Ride & handling

Integrated PG&A Solutions

Improved Comfort

Adjustable Ergonomics

Low Noise & Vibration

Price

Base

$12,999

Paint & EPS $14,799

Browning

$15, 799

July 2012

Big Bore Utility Full Market Coverage

$10K

$11K

$12K

$13K

$14K

$15K

$16K

NEW

July 2012

800

Mid-Size

RANGER

800

RANGER XP 900

All RANGER

segments growing

Share growth has been very strong

RANGER

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

MY’12 RANGER

product and marketing plan positioned well

2009-2012

2009

2010 2011 2012

Projection

Strong Retail Results, Positioned Well for Growth

ORV RANGER

Retail Results

July 2012

RAISE THE BAR IN ATV

Scrambler XP

Big Bore Market Share Expansion Opportunity

July 2012

77 HP, 0 to 30 in 2.16 sec

Limited to 80 MPH top

speed

Race-tuned exhaust

Fully independent IRS

Sport styling

75 lb rack capacity

$9,499

Fox Shocks

Handguards

LED Lights

NEW

Cast Black

Wheels

Premium Paint

$11,999

Significant share gains across Sportsman segments

Sportsman leads in both “Value”

and “Premium”

segments

Sportsman 500 H.O. and Sportsman 850 XP

2009

2010 2011 2012

Projection

2009-2012

Polaris

Honda

Yamaha

ORV ATV Market Share Results

Number 1 ATV N.A. Market Share YTD 2012

July 2012

$300M Industry market opportunity -

Kubota market leader

Bobcat dealer retail –

gaining momentum

CY12 Revenue flat due to national account acquisition dealer consolidation

Next level of growth -

Bobcat co-developed products on schedule for calendar year 2013

impact

Continued Market Penetration, Future Growth on Plan

Bobcat Partnership

July 2012

2009

2010

2011

2012

Executing Our Plan

Military Business

2012 Highlights

SOF 1

Strategy Paying Dividends

Positioned For Customer

Requirements In LTATV II

Won 1

SOCOM ATV Bid

Delivering TACOM M800’s

Leveraging for Int’l sales

Growing Unmanned Vehicle orders,

100+% growth

Introduced NPT Technology (tires)

MV850, High performance Vehicles

Launched (4) New Products:

MRZR, MV850 (NPTs) & RFSS

Sales

Customer Mix

July 2012

Positioned for Growth

Military Plan

Leverage Best-in-Class MCOTS Platforms

SOF 1

Strategy: Offer family of Light Mobility Solutions (MV850, MRZR

VLV)

Provide Utility and Tactical Vehicles to DOD and Int’l Customers

New Products to Serve More Markets

RANGER Diesel, Electric & Hybrid Vehicles

Very Light Vehicles, Next Class Up from Ultra Light

Non-Pneumatic Tire (NPT) Technology

Partnerships to Expand Capabilities & Markets

Unmanned Vehicle Capability, Exportable Power

Grow Sales to U.S. Foreign Military Allies

July 2012

#1 Position in ULV Military Markets

New Military Products

July 2012

ATV

SxS

Military

Bobcat

Significant

SxS Growth

Profitable

ATV Growth

Expand

Margins

Expanding

Military

Bobcat & Int’l

Strong RANGER

product plan

Strong RZR

product plan

SxS market

has upside

Sportsman strong

Still room

to innovate

Margin plan strong

Recovering Market

Monterrey

ramping up

Proven track record

Dealer inventory

healthy

Delivery

improvements

Gaining

momentum

Market specific

products

Next generation

platforms

STRONG GROWTH PLAN

ORV Future Strategy Summary

July 2012

RANGER

MILITARY & BOBCAT

RZR

SPORTSMAN

Positioned well for continued growth

Adjacent market growth opportunity

Strong product portfolio continued high growth

Entry value to high performance multi-passenger

Growing & continuing to win

INTERNATIONAL

Expanding SxS sales, new market opportunities

Q&A

Dave Longren,

V.P. -

ORV & ORV Engineering

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Motorcycles

Steve Menneto, V.P. –

Motorcycles

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Victory Growing Share In Improving Market Conditions

2012 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

Analyst July 2012

Victory Strategy

Analyst July 2012

Strengthen Victory Brand

Frequent Product News

Retail Flow Management

International Sales Growth

Expand Global Distribution Presence

Consistent Brand Execution

Strengthen Victory Brand

Partnerships:

Playboy, Gunny, E-Street

Bold Store Branding:

New Sign

V Beacon

Victory Stakes

Tattoo wall or rack/tables

New Apparel:

Core Range

Seasonal Collection

Analyst July 2012

MY’13 / CY’12 New Products

MY 12 Hard-Ball (Dec ‘11)

MY13 Judge (Jan ’12)

MY13 Boardwalk (Aug ‘12)

MY13 Extreme Green XC (June ‘12)

MY13 Ness Cross Country Tour (Aug ‘12)

Victory Cruiser Updates & Attitude Baggers

VICTORY BOARDWALK

H-D SOFTAIL DELUXE

Victory Boardwalk

Analyst July 2012

106 ci / 6-spd

110 ft-lbs torque

103 ci / 6-spd

98.7 ft-lbs torque

25.9”

Seat Height

Beach Bars

Removable Pass. Seat

25.9”

Seat Height

Standard Bars

#1 Service Index

#1 Maintenance Cost

Index

9.5 Gal. Storage

Accessory Lock & Ride

Saddlebags

10.6 Gal. Storage

$15,499

$17,149

($1,650 Less)

Move to Pull Based Production System

Lean Operations –

Retail Flow Management

Production

Retail

Misaligned Retail & Production Plans

Planned Volume

Why Change:

Plan for future volume for Victory and Indian

Align Production to Support Retail

Prepare for Model Mix Complexity

Improve Lead Times

Analyst July 2012

2009

2010

2011

2012

2013

2014

2015

2016

2017

Safety Stock Planning

SIOP Tracking and Planning

Production Scheduling and

Logistics Planning

Material Flow Design

Lean Operations –

Retail Flow Management

Transformed Every Process

Daily Ordering Process

Unique Dealer Profiles

Super

Segment

Model

Touring

Luxury Tour

CC Tour

Vision

Bagger

Hardbag Fair

Cross Country

Hardbag WS

Cross Roads

Cruiser

Custom

Judge

8-Ball

High-Ball

Classic

Broadwalk

Fat Tire

Hammer

Analyst July 2012

Future State: Bike Delivery in 10 Business Days

2012

2013

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Victory Business Model Change Impact on Inventory:

Channel Expansion -

Adding more dealers for motorcycle growth

Stock Outs -

Ensure appropriate stocking level to correctly merchandise motorcycle line

Lead-time Reduction -

Aggressively attacking our lead-times requires more flexibility to

meet changing customer needs

Complete

Profiles

Retail –

Sell Thru

Fill Profile Stockouts based on

Retail Sell-Thru

Lean Operations –

Retail Flow Management

Analyst July 2012

30-45

Business

Days

Bike Delivery to Dealers

in 18 Business Days

Days

One

Time

Initial

Fill

Dealer

Profiles,

Support

International Retail +60% 2012 YTD

Victory International

Analyst July 2012

Italy

Aus/NZ

Sweden

Norway

Germany

Finland

Spain

France

Other

2007

2008

2009

2010

2011

Growing N.A. & International Distribution

Expand Victory Global Distribution

Analyst July 2012

Dealer Count YTD 2012:

N.A. 430

Int’l. 130

Victory Motorcycles Dealer Count

N.A.

Int'l

2007

2008

2009

2010

2011

2012P

Indian Strategy

Analyst July 2012

Build a Premium Brand

Build Premium Product

Build a Premium Global Distribution Network

Build a World Class Team

Premium Brand

Indian Brand Video

Analyst July 2012

Grass Roots Marketing

Premium Brand

Indian Experience Truck:

Showcase the heritage of Indian

Motorcycles in a forward thinking

and interactive way

The 7 Pillars:

Legendary Heritage

Innovation

Racing

The Scout

War Time

Faithful Riders

The Road Ahead

Analyst July 2012

MY ‘13 -

Great Bikes Made Better

Premium Product

Analyst July 2012

•

NEW

MY ‘13 Pearl

White & Thunder

Black two tone paint

scheme

•

Chrome

highway pegs

•

Chrome arrow

style shift rod

•

Quick detach

passenger backrest

& luggage rack

•

35 LE units /

production already

started

Premium Dealer Recruitment

Established

“high

potential”

retail

zones

Systematic Site Selection

Top MSA Focused

Consistent Brand Image

Investment levels and operational requirements

Dealer Count Less than Victory

Premium Global Distribution Network

Established Premium Prospect Site

Analyst July 2012

Premium Dealer Environment

Premium Global Distribution Network

The brand is the story

The heritage is the endorser

The motorcycle is the proof point

Premium Apparel/ Accessory presentation

Celebrate the local riders

Analyst July 2012

Q&A

Steve Menneto

V.P. -

Motorcycles

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Parts, Garments & Accessories

Steve Eastman, V.P. –

PG&A

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

PG&A Overview

Analyst July 2012

Service Parts, Accessories, & Apparel

50,000+ SKU’s, $408 Million in Sales in 2011

Highest Gross Margins

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

Western Powersports, Motovan. Big Box Retail, Online Sellers

Top Selling Commodities

Cabs/Cab Components (ORV)

Winch Kits (ORV)

Oil

Plow Kits (ORV)

Brushguards (ORV)

Electronics/Lighting (ORV)

Rims/Wheels (ORV/Victory)

Tracks (ORV)

Snowmobile Outerwear (Snow)

Polaris Advantages

Strong Brands

Closer to the Customer

Wholegoods Integration (Accessories)

Proprietary Components (Parts)

Solution Focus

Fill Rates/Availability

Consistent Revenue and Profit Growth

PG&A Overview

9.2% CAGR

14+% CAGR

4-Year growth rate significantly outpacing historical trend

Continuous improvement in Operating Profit

All areas of the business are growing

2009 -

2012Est. Average Growth Rate

Analyst July 2012

Growth Objectives

Analyst July 2012

Expect Another Record Year

North America

+8%

International

+15%

Accessories

+9%

Parts

+10%

Apparel

+4%

ORV

+15%

Snow

-26%

On-Road

+25%

YTD Revenue Mix by Geography

YTD Revenue Mix by Product

YTD Revenue Mix by Business Unit

3-5 Year Growth Objectives

new accessories

140 new apparel items

new accessories

141 new apparel items

196 new accessories

60 new apparel items

MY’13 Product Innovation

Analyst July 2012

Industry-Leading Quality, Fit & Ease of Installation

ORV

Motorcycle

Snowmobile

25% Increase in New Accessories

75% Increase in New Apparel

New Pro Fit Cab System

Analyst July 2012

The New Standard in Side x Side Cab Systems

PRO-FIT CAB SYSTEMS OBJECTIVES

Deliver what’s most important to the consumer

Integrated styling, sealing & mounting

Eliminate framework for increase visibility

Highest quality materials

Sound dampening liners, higher level of comfort

Lock&Ride

install

cab

integration

Designed

for

new

for

MY’13

RANGER

900

Modular Design –

All components fit together

Flexibility to build cab systems to application and budget

Reduced SKU complexity = 16 SKU’s create 100+ unique

combinations

PG&A

Video: RANGER Pro Fit Cab

Increased Focus on Online and Mobile Shopping Tools

Marketing & Merchandising

Analyst July 2012

79%

of consumers spend half of

their product research time

online (up 29pp from 2010)

58%

of shoppers begin their

product research at a

manufacturers website

50%

of visitors to manufacturer

websites intend to purchase

within 30 days

Merchandising

Salesperson

Impact

–

Win

the

Dealership

Marketing & Merchandising

Analyst July 2012

Drive increased $/Unit by providing the dealer network with education and

resources to build and sustain effective retail merchandising practices

Program currently driving +15% improvement in accessory sales ($’s per unit)

After

Before

Improving Merchandising Impact

Training & Selling Tools

PG&A Operations

Analyst July 2012

Efficient, Timely, and Accurate Supply Chain

Distribution

Vermillion SD

380,000 sq. feet; expanded in ‘08

State of the art facility

Ship to 130 countries

3000 dealers worldwide

7 subsidiaries, 40 distributors

Complete, fast, accurate shipments

97+% fill rate

99+% of orders ship same day

99+% pick/pack/ship accuracy

Purchasing

50,000+ unique SKU’s

950 suppliers worldwide

New supply chain management

technology –

June 2012

Improved demand planning

Inventory optimization

Process efficiency

New Growth Initiatives

Analyst July 2012

Investing in Sustainable, Profitable Growth

Near Term

Longer Term

Elevated focus on product

innovation, & “signature”

products

Increased commitment to apparel

and general merchandise quality,

selection, and style

Improved online product content,

shopping tools, and mobile access

Improved distribution capacity and

service levels

Clear brand/merchandising DNA

and dealer retail merchandising

support

Development of new “adjacent”

product opportunities

Greater focus on international

and other market-specific product

opportunities

Improved retail replenishment

practices (“pull”

vs. “push”)

Q&A

Steve Eastman

V.P. –

Parts, Garments & Accessories

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Strategy to becoming a global leader in

small electric/hybrid vehicle industry

Scott Swenson, V.P. –

Small Vehicles

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYSTS MEETING

Product Market Segments

July 2012

Market Size

~$4 Billion

Fragmented

Global View

80% market in NA

Europe & China grow

faster than NA

Brazil & India emerging

Growth Drivers

Demand for clean low

cost vehicles:

Rising fuel prices

Gov’t regulations

Environment

Key Success Factors

High quality, innovative,

low cost products

Distribution

network

Global

scale

brand

Light Duty Hauler

Golf

People Mover

Industrial

Global Small Vehicle Market

After sales service

PM & LDH Competitive Vehicles

July 2012

Light Duty Hauler (LDH)

People Mover (PM)

Competitive Landscape

Attractive dealer and distributor network

Primary business/product focus = price sensitive fleet golf buyer

Big 3 control >90% of fleet golf market

Limited product innovation

European focused LDH vehicles; limited global distribution

Leverage automotive brand & distribution

Solid products; limited innovation

Leading niche players with small annual revenue levels

Unique and complimentary electric vehicle portfolios

Nominal product innovation historically

Highly fragmented distribution network presence

July 2012

Polaris will become the undisputed global leader in small electric/hybrid vehicles through

strategic M&A and disciplined execution. We will make the highest quality, lowest cost

sustainable vehicles for light utility and transport supporting consumer and commercial

applications. Our winning advantages are applications engineering, hybrid technology, broad

B2B and B2C distribution and flexible, low cost manufacturing.

Broad product line with emphasis on global

light duty hauler and people mover segments

Applications engineering/technology focused

on quality, hybrids/batteries (range), ride &

handling

Flexible local manufacturing + LCC sourcing =

lowest cost global producer

World class global distribution: B2B and B2C

$1+ billion sales

market

light

duty

utility,

people

moving

and

industrial

vehicles

Quality

leader

all

segments

with

NPS

and

warranty

International sales grow to ~30% of total

Local manufacturing in NA, Asia & Europe

Sustainable Competitive Advantages

What Success Looks Like

Strategy Statement

Small Vehicle Strategy

The Next “Big”

Polaris Business

July 2012

Polaris

Small

Vehicles

How Does Polaris Win?

Application

Engineering

Reliability/Durability

Ride & Handling

Chassis Integration

Speed to Market

2. Price/Value

Consumer & Commercial

Cost of Ownership

3. Technology

Range Extender (REX)

Partnerships (Brammo)

4. Flexible manufacturing +

low cost country sourcing

5. Leverage distribution

(acquired & partnerships)

Small Vehicle Strategy

Drive Profitable Growth in Large, Fragmented Small Vehicle Industry

Acquisitions

Range Extender (REX)

July 2012

Global Electric Motorcars (GEM)

Market leader in multi-purpose low-speed

neighborhood electric vehicles

47K vehicles sold since 1998

Build-to-order business model

6 base models; >1K variations

2012 Sales: ~$30 million

GEM Overview

NA dealer expansion, 150 new Polaris dealers

Grow non-dealer channels: National Accounts,

GSA, International

MY ‘13 product improvements: quality, brakes,

suspension, steering, pedal ergonomics

GEM branding: voice of customer + leverage

Polaris harder

Accelerate P&A sales, harvest installed base

GEM e4

2012 Focus

GEM eLX

Strategic Priorities

Next generation product: incorporate REX &

Brammo + Polaris vehicle leverage

Global small vehicle integration

Mobile service model evolution

Aggressively grow retail:

NA dealer channel leverage

Business to business dealers + national accounts

International expansion

July 2012

Goupil Industrie SA

European Market leader in ultra-light

commercial electric & hybrid utility vehicles

Only manufacturer with pure electric vehicle

2012 Sales: ~$30 million primarily in France

40 dealers & distributors

90+ employees

HQ & Operations in Bourran, France

2 base vehicles: G3 and G5

11 vehicle options i.e. pick-up, van, waste

collection, sprayer, etc.

Goupil Overview

Competitive Advantages

2011 European Market Size ~$70 Million and growing

Global Market opportunity ~$900 Million

Goupil Products

European ULEV Industry

Multi-use

accessories:

Provide

superior

customer solutions to base vehicle

Consumer intimacy + speed to market

Innovative & entrepreneurial culture

Ability to leverage Polaris infrastructure /

technologies to attack global niche

July 2012

Municipalities

Service

Providers

Industrial

Theme

Parks/

Hospitality

Military

Delivery

Other

Retail Financial Services

Partner Status:

(No Credit / Funding Risk)

Sheffield (Installment): Expires Feb 2016.

ORV focus. Profit sharing opportunity.

Capital One (Revolving): Expires October 2013.

Smooth transition from HSBC in Q2 ‘12

GE (Installment): Expires March 2016.

Motorcycle focus.

Extended Service Contracts: Assurant

Insurance: Progressive

July 2012

Retail Credit/Other Services Income

Solid Volume and Income Growth

Wholesale Credit to Dealers

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 stable, within expectations

Credit losses well less than 1%

Dealer credit availability / capacity not an issue

Other Geographic Markets

Canada dealers with GE; agreement expires 2017

UK,

France,

Germany,

Australia

subsidiaries

finance

dealers

through

GE,

changes

‘12

Other

foreign

subsidiary

dealers

international

distributer’s

receivables

carried

Polaris

books

$579

$568

$498

$555

$710

2008

2009

2010

2011

2012

$7.0

$6.1

$12.1

$12.6

$13.6

$13.3

2008

2009

2010

2011

2012E

YTD

2011

YTD

2012

Receivable

Balance

–

U.S.

Dealers

($ in millions)

Wholesale Credit Income

($ in millions)

$455

Competitive Advantage for Polaris and Dealers

July 2012

Summary

July 2012

Small

Vehicles

$4 billion fragmented market growing high single digits

Great

fit

for

Polaris;

potential

the

“big”

business

GEM and Goupil off to solid starts; meeting expectations

Focus on product and distribution to drive growth

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.

Wholesale credit JV with GE a competitive advantage

Q&A

Scott Swenson,

V.P. –

Small Vehicles

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Engineering / R&D / Powertrain

Steve Kemp, Chief Technical Officer

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Develop the Most Exciting Products in the

Industry

Deliver the right product at the right time

Open new and adjacent markets globally

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

Driving Growth

Developing Compelling New Products

July 2012

Well Thought-out Product Plans

“Hub and Spoke”

Architecture Plans

Domestic & International Variants

Development Processes Tailorable to Unique

Small Focused Product Teams

Subject Matter Experts as Needed

High Quality Designs

Computer Modeling

Advanced Testing

Continuously Learn & Improve

Actively Use Consumer Feedback Loop

Knowledge Management to Promote Information

Sharing

Engineering Staffing

40%+ increase

The Right Product

+50 Percent Reduction In Time to Market

Increased Market Share All Businesses

July 2012

YTD

~ 500

Product Needs

2006

2012

Business Strategy

Consumer Research, Net Promoter Score

New Growth

Market/Customer

Opportunities

Disruptive

Products

Idea Screening

Product

Planning

Investment

Allocation

Skunk Work Teams

Individual Contributors

Supplier Ideas, New technologies

Company-Wide Product Planning

5,000+ Employees Generating Ideas

July 2012

Growth

Market

Opportunities

–

Problem

Identification

Innovative Culture

People and processes that drive innovation and a passion for

performance

Applications Engineering

Capability to develop cost effective unique solutions for Global

Customers

Leveraging new and existing technologies

Partners and Suppliers to expand our capabilities

Flexible Manufacturing

Manufacturing infrastructure and processes that enable flexibility

and agility

Speed

Corporate systems and structure that enables consistently

superior speed-to-market

These in Combination are Our Winning Advantages

Sustainable Advantages

July 2012

Development Cycle Time

Engineering Speed to Market

World Class Development Staff &

Process

Co-located integrated product teams

Internally Developed Design

Tools & Models

Analysis directly to production tooling

Integrated tooling & part cost analysis

Unique Product Segment Testing

Lean Engineering Eliminating

Wasted Time & Expense

Focus on decision-making waste

Continuous Learning

Learning cycles benefit all teams

Strategies

Right Product at the Right Time

Down 50%

July 2012

2006

2012

Capabilities

NPS

Score

Industry

Rank

Trend

SxS

ATV

Snow

Victory

Quality

July 2012

Net Promoter Scores

Warranty as a % of Sales

% of Vehicles with No Claims

Goal is 95%

Forecast

Operations as a

Competitive Advantage

Quality Focus Driving Nice Progress

Hub and Spoke Product Planning

Platforms/sub-systems owned

Proven systems applied rapidly to new products

Planned Re-use Globally

Quality Improvement Integrated

Focus on Customer Experience

Feedback loops to new designs

Integrated tooling & part cost analysis

79%

81%

90%

92%

93%

2007

2008

2009

2010

2011

2012

1.2%

1.7%

2.2%

2.7%

2008

2009

2010

2011

2012

Fcst

Warranty Reserve

Warranty Paid

Product Development Investments

Reducing Development Cost Percentages

Investments in Product

Development Growing Strongly

53% increase in Total Expense,

Tooling, and Capital from 2006

Reduced % revenue due to strong

revenue growth & lean

engineering

Lower Warranty % enabling more

productive investments

Investments % Revenue

July 2012

Warranty

Capital

Tooling

Eng

Expense

2006

2007

2008

2009

2010

2011

2012

Product Development Investments

“Pyramid”

of Product Development Strategy

Allocating Resources to Support Product Strategies

July 2012

New Product +

New Customer

New Product +

Current Customer

Current Product +

Current Customer

Consumer Warranty Claims

Cost $’s Per Horsepower

Heart of the vehicle

Control Key Intellectual Property

Common Architecture Designs

Design for Manufacturability & Quality

Polaris designs, develops & manufactures

about 60% of its own engines today, up from

approx. 30% 5 years ago

Powertrain

Number of Engine Families

Down 35%

Down 25%

Down 65%

Powertrain Moving to a Competitive Advantage

July 2012

Driving Innovation for Global Customers

Sales And Market Share Gains

Fed by our Passionate Staff, Partners, and Suppliers

Methodical Innovation Process

Relentless Focus On Operational Excellence

Speed to Market

Reduced Total Costs

Continued Quality Improvement

Powertrains and Drivelines Feed Future Growth

Reliable

High Performance

Fuel Efficient

Summary

July 2012

Q&A

Steve Kemp

Chief Technical Officer

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Operational Excellence

A Pathway to World Class Performance

Suresh Krishna

V.P. –

Global Operations & Integration

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST MEETING

Agenda

Analyst -

July 2012

N.A. Realignment

Plant Capacity

Manufacturing Excellence

Acquisition Integration: GEM / Indian / GOUPIL

LEAN Deployment: Polaris Way

Supply Chain Execution

N.A. Realignment Update July 2012

Analyst -

July 2012

Key Metrics

Financials

Solid Start –

More Work Ahead

Security:

Continued

investments

securing

people,

product and property

Expansion:

Adding 3

assembly and weld cells line to

increase production in 2013.

Sourcing:

Accelerate

Local

Sourcing

Mexico

Ranger and RZR assembly at production rate

Exhaust Transition 100% Complete

Fab Transition 100% complete and performing at rate

Monterrey Headcount: 900 Hourly, 100 Salaried

Production Volume on Plan

(in millions)

One Time Expense

$27 -

$28

On track

Est. Total Capital

$35 -

$36

On track

Annualized Savings

$30+

On track

Project Status

2012 Updates

22,500

20,000

Full year 2011

Full year 2012

Wholegoods

Engines

Manufacturing Realignment Status 2012

Roseau

Spirit Lake

Monterrey

MY12 SxS

Total Warranty by Production Plant

by Plant on ONLY common models

(data as of May 2012)

Polaris Way: Creating Capacity with Minimal Capital

ORV Capacity Impact Over Next 2-4 Years From Accelerating “Polaris Way”

Implementation

Analyst -

July 2012

Capacity Tighter, but Manageable

ORV Sales Expectations vs. Capacity

Global Growth Continues

Assumptions

Strategies

Analyst -

July 2012

Significant organic and acquired growth

expected 2012-2016

EMEA growth justifies local production

Brazil/S.A. supplied from Monterrey

Asia Acquisition/ JV Partnership for SKD

of current products and manufacture

Local market specific products

Leverage Monterrey Best Practices

Utilize FTO chassis/finish structure to

meet growing market demands

Focus on assembly, pursue low capital

investment strategy

Implement LEAN -

Polaris Way

Brownfield or

Greenfield

China

India

LCC/ SKD

July 14, 2010

Manufacturing Productivity

Analyst -

July 2012

Manufacturing

Finished

Goods

Rework

Wholegoods Revenue per Employee

LEAN Implementation Providing Strong Results

Analyst -

July 2012

Proven Ingredients –

New Recipe for Success

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

Fully embrace the LEAN principles &

tools to make Polaris better.

Eliminate Waste

Margin Expansion

Product & Quality Leadership

Reduce Customer Lead Time

LEAN: Polaris Way

PAF

Integrating Acquisitions: Polaris Acquisition Framework (PAF)

July 14, 2010

GEM & Indian Integration Update

Analyst -

July 2012

Integration Processes Maturing to Deliver Key Milestones

Indian

Integration

–

Moved

Production

to Spirit Lake, IA in 90 days

GEM Integration –

Moved Production from

Fargo, ND to Spirit Lake, IA in 6 Months

•

Eliminate Waste

•

Improve Quality

•

Improve Lead-time/Delivery

•

Reduce Cost

•

Capacity

LEAN Development: Polaris Way

Analyst -

July 2012

Driving Significant, Measurable Improvements to our Bottom Line!

Victory Transformation Followed by ORV Transformation

Analyst -

July 2012

Retail Velocity Improvement Enables Lead-time Reduction and Savings

Maximize retail flow: dealer orders based on true retail signal;

creates “pull”

impulse for supply chain

Establish required dealer inventory profile based on retail trends

Deploy retail patterned supply chain plan; Install production wheel

to match retail pattern

Adopt real-time company-wide problem solving

Unplanned

Product Holds

Supply Chain

Alignment

Retail Flow

Management

Dealer

Inventory

Strategic Initiative

Business Process

July 14, 2010

Supply Chain Execution

Analyst -

July 2012

Supplier

Quality -

PPM

YOY % Material Cost Reduction

Deep Supplier Relationships Driving Cost & Quality Improvements

Analyst -

July 2012

Commodities: Proactive Management

Cost Mitigation Strategies

Active Commodity Management Delivers Significant Benefits

Financial Hedges

Forward Buys

Reverse Auctions

Supplier Umbrella Contracts

Long-term Agreements

YTD 2012 Average Market Price vs. Polaris Buy

These Commodities

represent ~ 20% to

25% of GOGS,

Combined

Steel

Resin

Aluminum

Diesel Fuel

Market Avg Price

Polaris Avg Price

New Opportunities

Cost Reductions: Long Term Approach

LCC Sourcing

Long-term Agreements/

Negotiations

Commodity Agreement/Hedging/

Forward Buys

Insource/Outsource

Engineering Design/Value

Engineering

Increase Common parts

Strategic placement of

commodities (sourcing matrix)

More ownership of “IP”

Supplier Development

Cost Benchmarking: SxS

Alternate materials

De-risking: Dual Sourcing

Analyst -

July 2012

Traditional Cost Reduction Focus

Next Level Cost Down Activities Kicked-off

Factory Inventory

Days Supply Improved for Wholegoods

Continued YOY improvement in Wholdgoods days supply

Factory Inventory $ up 25% YTD

Goupil and GEM acquisitions increased factory inventory YOY

Increase in some inventory to meet higher demand and sporadic dealer

stockouts

Analyst -

July 2012

Factory Wholegoods

Inventory Days of Supply

2009

2010

2011

2012

Operations is Competitive Advantage

Lean Enterprise for world class quality, cost, lead times

Manufacturing realignment: excellent execution

20% Volume decline / 70% volume increase

3 Acquisition integrations completed

Manufacturing productivity up >7% for each of last 3 years

Inventory turns increased 18%, from 4.5 to 5.3

3-5 Year Objective:

3 Year Results:

Excellent Progress, Significant Potential

Q&A

Suresh Krishna,

V.P. –

Global Operations & Integration

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Asia Pacific, Latin America

Mike

Dougherty,

V.P.

APLA

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Exhibit 99.9

Global Footprint 2016

Manufacturing

Joint Venture/MFG

Subsidiaries

2012

Polaris APLA Locations

July 2012

July 2012

What’s Different From 1 Year Ago?

Revenue Growth Projections

Ahead of Curve –

More Realistic and Optimistic Plans

Growth momentum continues @ 20%+ / year; Aus remains strong

ORV Markets growing, creating recreational Powersports market

Established in BIC. YTD Revenue 2X last year. China profitable

Developing new partnerships: India/Eicher

Team is stronger and more experienced throughout region

2010 LRP

2012 LRP

2011 LRP

2010

2011

2012

2013

2014

2015

2016

2017

July 2012

Polaris APLA Strategy

APLA will become a $1B business by 2018. We will build the markets

for our core products, form strategic partnerships and develop

breakthrough, low cost, innovative vehicles for customers worldwide.

Our winning advantage is our ability to successfully integrate the local

talent

and

culture

with

Polaris’

passion

and

performance.

Strategy

What Success Looks Like

Sustainable Competitive Advantages

Quadruple Organic Growth

#1 ORVs and Triple Business

#2 in Premium Motorcycles

BIC organic revenue x 10

APLA Footprint: HQ, Mfg, Engineering

3+ Strategic partners

Passionate & Innovative culture

Superior ride and handling vehicles

Premium American Brands

Speed to market -

not yet

Operational Flexibility -

not yet

$1B in Revenue (Organic + Partners)

$1B Revenue, Global Footprint, New Markets, New Products

APLA Strategic Summary 2013-17

Overall

Key Initiatives

Grow to $1B

Organic +

Joint Ventures

Triple ORV

business and grow

to #1 share

Aggressively grow

premium

Motorcycle to #2

Develop Strategic

partnerships and

product platforms.

Grow Core

JVs add Rev & NOP

Global Footprint

On Road & Off Road

Regional HQs & 10 Subs

Market specific product

Polaris #1 Business

Long term growth opportunity

Create Recreation market

Enter commercial segment

Training focus

Reduce cost & Localize

Dealer direct key markets

40M unit Motorcycle market

Premium market growing

Indian Launch 2013/14

Expand Japan 2013/14

Expand Australia retail

CKD for Brazil & India

Current portfolio too limited

DIY too expensive & slow

Focus on emerging markets

3+ Joint ventures / acquisitions

Leverage partners strengths

July 2012

July 2012

Key Market & Customer Trends / Outlook

Product Line /

Market

Global Industry

Assumptions

Polaris Share Assumptions

ORV

BIC recreation market growing at >30%

BIC commercial SxS market evolving

and growing rapidly

AUS mkt = 20,000 units; mature

Number

one

every

market

2017

Premium Heavy

Motorcycles

(Core)

CHN –

30% growth per year

Brazil –

Premium brands are CKD

direct

AUS –

Mature mkt, dominated by

Cruisers but trending to Tourers.

Will achieve >10% share with Indian and

mid-size bikes fully launched

BIC Revenue

APLA 2012 Plan –

Stay on Offense!

APLA Revenue

Building Global Foundation in High Growth Region

Australia/NZ wins: Continue to Gain share. New office location. Motorcycle Retail

20%+

Profitable growth: SxS focus. Subs deliver. Latin distributors

Lead in BIC: Create market. Train. China doubles. India and Brazil start.

How We Win

Revenue By Geography

July 2012

09 Act

10 Act

11 Act

12 Fcst

11 Fcst

12 Plan

Asia

Pac

Asia

Pac

Lat

11 Fcst

12 Plan

China

India

Brazil

Adjacent business - Establish a new partners and product platform

BIC Sales

Product Sales

APLA Results First Half

APLA –

Sales ($ Millions)

Regional Overview

Asia Pacific Driving Strong Top Line Growth

Total Growth:

20%+ YOY. ORV + Victory driving growth.

Asia Pacific:

Australia/NZ very strong. China doubling. India starting.

Latin America:

Brazil started. Distributors behind due to Import restrictions

2X+

20+%

July 2012

2011

2012

ATV

SxS

Motorcycle

PG&A

2011

2012

ORV Share (Australia)

Australia / NZ 1H Results

Aus/NZ Rev (US$)

Winning in Largest APLA Market

Overview

Revenue by Product

34+%

Continued Strong Revenue Growth: 2011 +40%, 2012 YTD +34%

ORV markets growing & Polaris gaining share; #2 now

M/C Industry growing / Victory gaining share

Sydney & Melbourne dealers operational

New office location outside Melbourne opened in Q1 2012

New Zealand growing share and revenue in significant ORV market

July 2012

2011 Act

2012 Act

ATV

SxS

Motorcycle

PG&A

Honda

Polaris

Yamaha

Suzuki

Other

ORV Dealer Coverage

Polaris China First Half Results

China Rev (US$)

Growth Momentum Continues in China

Overview

Revenue by Product

94+%

ORV business continues to grow. Creating recreational market.

Entering commercial segment. Order from Yichun municipality.

16 ORV dealers in place throughout country

Initial Victory dealer launch in Beijing successful

Building Asian distribution network for ORV & Motorcycle

July 2012

PG&A

2011 Act

2012 Act

ATV

SxS

Motorcycle

New Victory Store in Beijing

Entering

Worlds

Largest

Motorcycle

Market

July 2012

ORV Dealer Coverage

Polaris India First Half Results

India Rev (US$)

Successful Start in Critical Long Term Growth Market

Overview

Revenue by Product

ORV Launch successful. Creating recreational market.

Entering commercial segment. Orders from Security Forces.

16 ORV dealers in place throughout country.

Evaluating Motorcycle launch timing.

Established Joint Venture with Eicher Motors.

July 2012

16 Appointed

3 to be

inaugurated

2011

2012

ATV

SxS

Motorcycle

PG&A

Auto Expo January 2012 –

New Delhi

July 2012

Eicher Polaris Joint Venture

India Market Position

Strategy

Polaris Overview

Eicher Overview

Great Partner in Long Term Growth Market

50 / 50 JV $50M Investment over 3 yrs.

New Product Development

New Operational Footprint

New Distribution Channel

Global Emerging Market Opportunity

$1.3B Revenue

Established 1959

Commercial Vehicles

Joint Venture with Volvo

Royal Enfield iconic

motorcycle

$2.7B Revenue

Established 1954

#1 off-road –

Global Leader

Indian & Victory Motorcycle

Snow + Electric Vehicles

largest population (1.2B)

fastest growing economy

largest motorcycle market (10M+)

#1 market for 3-Wheel motorcycles (500K)

#4 light duty 4-Wheel commercial (700K)

July 2012

Dealer -

GS Motos

Polaris Brazil 1H Results

Brazil Rev (US$)

Good Start to Creating ORV Business in Brazil

Overview

Revenue by Product

100%+

Operational as of March 2012. Strong team in place.

Focus on building premium dealer network. Plan is 10 by EOY 2012

Creating recreational market. SxS Focus. Demos, training, racing.

Significant opportunities in Agriculture and Electric Vehicles

Evaluating Motorcycle launch timing and requirements

July 2012

2011

2012

ATV

SxS

New Dealer Forteleza

SxS Racing

Polaris Brazil –

1H Highlights

Grand Opening 1

Dealer

Agrishow 2012

New Dealer Layout -

Forteleza

July 2012

Polaris APLA 2012 Deliverables

Build Business Foundation in High Growth Region

Continue Growth Momentum @ 20%+

Continue to Win in Australia. Gain Share with ORV &

Double BIC Sales

Develop ORV Rec Market & Enter Commercial

Expand Victory in China

Establish Eicher Polaris Joint Venture

July 2012

Motorcycle

Q&A

Mike Dougherty

V.P. –

Asia Pacific, Latin America

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

Europe, Middle East, Africa

Matt Homan, V.P. -

EMEA

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING

July 2012

EMEA Business Overview and Competitive Landscape

EMEA 2012 Objectives, Results and Outlook

EMEA New Product Focus

EMEA Future

Agenda

Polaris

EMEA

Market

Defined

July 2012

EMEA

Distinct

Markets:

Western

Europe

Growth

Markets

Western

Europe

Growth

Markets

Definition

France,

Scandinavia,

Germany,

Italy, etc.

Russia,

Middle East,

Africa,

Eastern,

Europe

2012 %

EMEA

70%

30%

2007 %

EMEA

80%

20%

Distribution

Subsidiary /

Distributor

100%

Distributor

# of Dealer /

Distributors

600 Dealers and 30

Distributors (Approximate)

Strategy

Gain Share

Drive

Growth

Polaris EMEA Customer Usage

July 2012

Market Usage Balanced Between Utility and Recreation

Middle East:

Primarily

recreation ORV

market

Russia:

Strong recreation

ORV market;

Strong utility snow

market

Africa:

Combination of utility

and recreation ORV

market

–

Smaller

market

today with potential

Southern Europe:

Strong recreation

ORV market: Growing

utility ORV market;

Good motorcycle

opportunity

Northern Europe:

Primarily utility ORV

market and strong

snowmobile market.

Good motorcycle

opportunity.

Business Shifting to SxS –

Snow/Motorcycles Gaining

July 2012

EMEA Breakdown

ATV 53% of Business

Down from 70% in 2008

SxS 23% of Business

Up from 12% in 2008

Snow 23% of Business

Up from 17% in 2008

Motorcycles 4% of

Business

Up from 1% in 2008

Polaris EMEA Business Defined

Polaris EMEA Sales by Segment 2008-2011

Motorcycles

Snow

SxS

ATV

Polaris EMEA % of Business 2012

SxS

23%

ATV 53%

Snow

20%

Motorcycles

2008

2009

2011

2010

Excellent

Growth

Markets

Performance

–

Growth

Prospects

Strong

July 2012

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

Markets

Improved

2009

2011

–

Weak

2012

July 2012

Western Europe Industry Trends

Since

2009

2012

YTD

ORV

+8%

-12%

Snowmobiles*

+8%

+9%

Motorcycles**

-2%

-9%

* Snow STD 7/11-6/12

**Motorcycles heavy cruisers/touring only

Solid Market Performance

2009 –

2011

Weak Markets 2012 –

Euro

Crisis

Polaris Outperforming in

ORV/Motorcycles

Industry Sales by Segment 2009-2011

(W. Europe Only)

ORV

Snowmobiles

Motorcycles

2009

2010

2011

ORV #1; Positioned Well in Snow for MY’13; Victory Momentum

July 2012

EMEA Competitive Overview (W. Europe)

ORV Share

Motorcycle Share

Snowmobile Share

Polaris #1 and growing

Asian players strong

Market weak 2012

BRP #1 and strong

Polaris #2 –

lost share

Victory strong growth

BMW strong growth

HD #1 –

Down in 2012

Company

Trend

Polaris

Kymco

Yamaha

TGB

BRP

Honda

Suzuki

Arctic Cat

Company

Trend

Lynx/Ski

Polaris

Yamaha

Arctic Cat

Doo

Company

Trend

BMW

Honda

Triumph

Victory

Suzuki

Low inventory 2011

Excellent MY’13 orders

Solid 1H in Face of Growing Economic Uncertainty

July 2012

Polaris EMEA 1H Objectives / Results

2012 1H Objective

1H 2012 Results

Deliver Revenue Growth in

Difficult Economy

Slightly Below Plan (YOY currency -4%

impact to sales)

Gain Share –

ORV,

Motorcycles, Snow

Strong Gains in 1H

ORV, Motorcycles –

Good Snow Plan

Grow Fast Outside of

W. Europe

Strong 1H Growth

Up Strong Double Digits

Integrate and Improve

Goupil

Good Progress

Rev $ Up, Costs Down, Productivity Up

Build Vision –

Grow

Faster / Improve Margins

Vision In Place

Lots of Opportunities

Note: 1H Results Include Goupil

Up High Single Digits

Expect to Drive Growth and Gain Share in 2012

July 2012

Polaris EMEA 2012 Outlook

Note: 2012 Outlook Includes Goupil

1H sales results solid

Q2 saw W. Europe markets slow

Snow,

Motorcycles

strong

–

ORV

Gain

2012

Objective

Outlook

2012

Comments

Revenue

Approx.

$350M

Expect nearly 10% growth vs. 2011

economic headwinds, currency

Margins

Expect Modest Margin Erosion

mix, currency

Market Share

Gain Share in ORV, Snow,

Motorcycles

2012

Goupil –

Green Work Solution for European Cities (and Beyond)

July 2012

EMEA Goupil Overview

Leader in Electric

Commercial Utility Vehicles

Headquartered and

manufactured in SW France

100 Employees

65% France/35% Export

G3 –

Urban use up to 80KM

NEW! G5 –

Urban and

Suburban use up to 400KM

On-Track vs. Goals –

Overcoming Economic Headwinds

July 2012

EMEA Goupil Results

2012 Objective

1H Results

Deliver Growth in Difficult Economy

20%+ 1H Growth

Drive 5% Cost Out In Year 1

On Track

Deliver 10%+ Operational Efficiency

Ahead of Plan

Launch Next Platform –

2H Broad Launch

Leverage Goupil and GEM Synergies

In Process

Strong MY13 News –

Will Help Drive Growth In EMEA

July 2012

EMEA

2013

New Product Highlights

MY 2013 ORV Victory

Opportunities Across EMEA

“European”

Models

Scrambler 850 –

Incremental Opportunity Europe Has Been Waiting For

July 2012

Pent Up European

Demand

Very low share in

segment =

Incremental

opportunity

High showroom

appeal

High performance

NEW! Scrambler 850

Building on RANGER Momentum –

Premium and Value

July 2012

NEW! RANGER XP and RANGER 800

Power! 60HP

ETC –

Emissions/Homologation

Better ride and ergos

Help build RANGER Center strategy

Mid-Size Strong in EMEA

More power / great value

Higher margins

W. Europe & growth markets

RZR XP4 –

The Ultimate High Performance SxS in EMEA

July 2012

Ultimate performance SxS

International = E-marked tires, mirrors, lighted license,

S. Europe, Growth Markets

open differential, etc.

NEW! RZR XP4 International

2 New

Models

With

European

Feel

–

Continue

Victory

Momentum

July 2012

Modern Cruiser

“European”

Feel

Positive with press / consumers

Good start in EMEA in Spring

NEW! Victory Judge and Boardwalk

Classic Cruiser

Good European segment

Style and comfort high

Broadens line in Europe

Strong Snowmobile Momentum for MY’13

July 2012

The legend is back

Strong reception in Europe

Strong Incremental orders

Big driver of strong MY’13

order bank

NEW! 2013 Snowmobiles

Mountain and extreme leader

Strong reception across RMK

line

Strong incremental orders vs.

MY’12

NEW! Indy 600

NEW! PRO RMK

July 2012

We will build

our existing EMEA powersports business with

product

distribution

innovation,

will

transform

EMEA

operations

enable

higher

sales/profits/tax

potential,

and

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

Develop

products

for

EMEA

–

core

and

beyond

Acquire new businesses in adjacent markets

EMEA Vision 2018

EMEA Strategy

$1B EMEA Business in 2018

EMEA –

Winning Competitive Battle Today and In Future

July 2012

EMEA 2012 1H

Solid 1H results in slowing markets

EMEA 2012 Full Year

Expect to grow near double digits

EMEA Future

Significant opportunities for improvement exist

EMEA Summary

Q&A

Matt Homan

V.P. –

Europe, Middle East, Africa

July 31, 2012

POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING