Third Quarter 2023 Earnings Presentation

Full Year 2023 Guidance & Expectations Total Company Sales $ in Millions Segment Sales HIGH-SINGLE DIGITS % Unchanged . • Narrowed Off Road 3% to 5% $8.8B to $9.0B On Road FLAT Lowered . Relative to 2022 at $8.6B Marine • Adjusted* EPS Lowered 8% to 4% $9.60 to $10.00 MID-TWENTIES% Lowered Adjusted* Margins % of Sales Gross Profit Margin EBITDA Margin Lowered 40 to 70 bps Relative to 2022 at $10.40 Relative to 2022 at 22.8% Lowered 40 to 60 bps Relative to 2022 at 12.5% • • Q4 Outlook Assumptions Volume flattish year-over-year Retail growth driven by snowmobile shipments Higher finance interest and negative net price Year-over-year FX headwind to adjusted EBITDA of $15M to $20M Interest expense headwind of ~$5M Changes in assumption versus July call: Unfavorable mix Manufacturing costs remain elevated O Lower retail outlook Key Metric Operating Expense Interest Expense Tax Rate Diluted Shares Depreciation Key Metrics July Call FY 2023 Expectations Up 30 bps to 50 bps ~$125 million 22.0% to 22.5% 58 million Up ~15% Fin. Services Income Operating & Adj. FCF Capex Up ~50% Up significantly ~$400 million Updated FY 2023 Expectations Up ~50 bps Unchanged 19.5% to 20.0% Unchanged Unchanged Unchanged Unchanged Unchanged POLARIS Updated Full-Year Guidance Factors in Current Results and Q4 Trends *Please refer to the supporting schedules entitled "Non-GAAP Reconciliation" for reconciliations of adjusted or non-GAAP measures to the most directly comparable GAAP financial measures, and to the discussion regarding non-GAAP adjustments excluded from 2023 guidance, which can be found in the appendix of this presentation. Note: Figures for all periods reflect continuing operations Q3'23 Earnings 10/24/23 12

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