Polaris Inc. · NYSE:PII
Polaris — Raymond James 47th Annual Institutional Investors Conference (March 2026)
18 slides from Polaris's conference presentation, Mar 3, 2026
Slide 1: Raymond James 47th Annual Institutional Investors Conference
Mike Speetzen Chief Executive Officer Bob Mack Chief Financial Officer Raymond James 47th Annual Institutional Investors Conference Orlando, Florida - March 3, 2026
Slide 2: About Polaris
Innovation Leader About #1 ~40 Off-Road Vehicles (ORV) Polaris #1 #2 Pontoons & Deck Boats Snowmobiles New Vehicles Launched 2023-2026 >3,300 16 800+ Manufacturing Facilities New Patents 2023-2026 Dealers Worldwide Worldwide 3/3/2026 RJ Investor Conference 2
Slide 3: Introducing New Segments
Introducing New Segments Polaris Powersports Marine Aixam & Goupil $5,854M 87% $512M 8% $323M 5% 2025 Sales % of Total 2025 Sales % of Total 2025 Sales % of Total Segment Sales Segment Sales Segment Sales ORV Seasonal Snow & Slingshot Commercial Gov’t & Defense PG&A Aftermarket & Experience New Segm
Slide 4: Global Consumer Lifestyles & Usage
Global Consumer Lifestyles & Usage SEASONAL COMMERCIAL / OFF-ROAD VEHICLES MARINE AIXAM & GOUPIL (SNOW/SLINGSHOT) GOV’T & DEFENSE Farm, Ranch, Utility, Recreation, Adventure, B2B, Fleet, Utility, Recreation B2B, Fleet, Personal Adventure, Recreation Utility Tactical, Government Transportation Global
Slide 5: Introducing updated 2026 guidance due to the separation of the Indian Motorcycle business
Introducing updated 2026 guidance due to the separation of the Indian Motorcycle business closing earlier than expected on February 2, 2026. 5
Slide 6: Full Year 2026 Guidance (Updated 3/3/26)
Full Year 2026 Guidance (Updated 3/3/26) FY’25 Updated Previous • Raising full year guidance to reflect Actual FY’26 Guidance FY’26 Guidance earlier-than-expected close of Indian as of March 3, 2026 as of January 27, 2026 Motorcycle separation Total Company • Continue to expect a flattish retail $7.
Slide 7: Our Clear Vision to Win: Global Leader in Powersports
Our Clear Vision to Win: Global Leader in Powersports Today: Controlling What We Can Control • Operational Efficiencies: Seeing progress at our plants • Innovation: Continue to take share with new products • Working Capital: Drive attractive cash generation • Dealer Health: Dealer inventory is healt
Slide 8: The Next Part of the Cycle
The Next Part of the Cycle 2019 2027 Our Focus • Recreation industry • Efficient operations • Industry stable / growing downturn • Healthy dealer inventory • Improved manufacturing • Warranty and product performance and quality liability • Tariff mitigation • Lower tariff burden • Inefficient manu
Slide 9: Key Focus Areas for 2026
Manage to a flattish retail environment • Launch innovative products Key Focus • Build = Ship = Retail • Positive net price with model year pricing and lower promotions Areas for • Operations poised to meet any signs of increased demand 2026 Successfully execute on Transition Service Agreements rela
Slide 10: Positioned to Win in 2026 and Beyond
Positioned to Win in 2026 and Beyond Advancing Our Leadership Building for a More Profitable Tomorrow • Clear #1 position in Powersports with • Foundation in place for long-term profitable strengthened core segments growth • New segmentation aligned to customers, • Focused investments to unlock futu
Slide 11: Q&A
Q&A 3/3/2026 RJ Investor Conference 11
Slide 12: Appendix
Appendix • Safe Harbor & Non-GAAP Measures • 2026 Guidance-Key Metrics • GAAP/Non-GAAP Reconciliations • Non-GAAP Reconciliations – Net (Loss) Income to Adjusted EBITDA • Historical Sales Reclassification 3/3/2026 RJ Investor Conference 12
Slide 13: Safe Harbor & Non-GAAP Measures
Safe Harbor & Non-GAAP Measures Except for historical information contained herein, the matters set forth in this presentation are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Poten
Slide 14: 2026 Guidance – Key Metrics
2026 Guidance – Key Metrics Raising full year guidance to reflect earlier-than-expected close of Updated guidance metrics issued on March 3, 2026 Indian Motorcycle separation Updated Previous Updated Previous FY’25 Key Metric FY’26 Guidance FY’26 Guidance Actual FY’26 Guidance FY’26 Guidance as of M
Slide 15: Non-GAAP Reconciliations – Total Company
Non-GAAP Reconciliations – Total Company Reconciliation of GAAP "Reported" Results to Non-GAAP "Adjusted" Results (In Millions, Except Per Share Data; Unaudited) Adjustments: (1) Represents adjustments for integration and acquisition- related expenses (2) Represents adjustments for corporate restruc
Slide 16: Non-GAAP Reconciliations – Net (Loss) Income to Adjusted EBITDA
Non-GAAP Reconciliations – Net (Loss) Income to Adjusted EBITDA Reconciliation of Net (Loss) Income to Adjusted EBITDA (In Millions, Unaudited) Twelve months ended December 31, 2025 2024 Adjusted sales 7,142.8 7,174.7 Net (loss) income (464.8) 111.2 (Benefit) provision for income taxes (67.9) 29.6 I
Slide 17: Historical Sales Reclassification
Historical Sales Reclassification 3/3/2026 RJ Investor Conference 17
Slide 18: 3/3/2026 RJ Investor Conference
3/3/2026 RJ Investor Conference 18
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