Polaris Industries Inc.

4/2/2001


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Table of Contents

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Polaris Industries Inc.

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Strong Business Foundation

Strong Business Foundation

Sales 1990 to 2000

Polaris Sales by business unit

Earnings Per Share (Diluted)

Historically not sensitive to negative economic changes

Product Cost Reduction Efforts

Cash Flow

Return on Shareholders Equity

Debt to Total Capital Ratio

Cumulatively to date have repurchased 5.8 million of 7.5 million authorized for a total of $184 million.

1992 - 97 Industry averaged 12% annual growth 1998 -99 Industry averaged 23% annual growth 2000 Industry growth 19% 2001+ Average annual growth rate 10% +

Polaris entered ATV market in 1985 Polaris increased retail sales every year since 1989 Currently #2 in the industry

Youth ATV Market

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1992 - 99 All-Highway motorcycles averaged 13% growth 1992 - 98 Cruisers averaged 15% growth 1999 Cruisers grew 21% 2000 Industry cruiser growth 20% to 220,000 units 2001+ Average annual growth rate 10% +

Victory Production started July 4, 1998

Victory Status

VICTORY V92C Deluxe

1993 - 96 Industry averaged 18% annual growth 1997 - 00 Industry absorbs growth & poor weather (flat-down) 2001 + Expect modest 5-7% industry growth as normal snowfall returns

Polaris has been Industry Market Share Leader for 11 consecutive years

600 Edge X

Customized Snowmobiles

1991 - 1995 Industry grew 30+% annually 1996 - 1999 Rapid market decline from regulatory and legislative concerns 2000 + Industry down 10% to 120,000 units 2001 + Resume modest annual growth

First manufacturer with a model (Genesis i) that complies with EPA’s 2006 emission standards

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Highest margin business (almost double corporate average) Has grown 32% since 1998 (greater focus placed on product line)

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Highest margin business (almost double corporate average) Has grown 32% since 1998 (greater focus placed on product line)

Polaris Professional Series

Growth Initiatives (Catalysts)

Growth Initiative - Financial Services

Growth Initiative - International Opportunities

Growth Initiative - Alliances

Polaris Brand Promise:

Building Dominant Brand

2001 Outlook

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How Are We Doing So Far?

Polaris Contacts

1995 Private Securities Reform Act Polaris Industries Inc. Disclosure Statement

Author: Cela Sandin