www.thorindustries.com

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This presentation includes certain statements that are “forward looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward looking statements involve uncertainties and risks. There can be no assurance that actual results will not differ from our expectations. Factors which could cause materially different results include, among others, price fluctuations, material or chassis supply restrictions, legislative and regulatory developments, the costs of compliance with increased governmental regulation, legal issues, the potential impact of increased tax burdens on our dealers and retail consumers, lower consumer confidence and the level of discretionary consumer spending, the level of state and federal funding available for transportation, interest rate increases, restrictive lending practices, recent management changes, the success of new product introductions, the pace of acquisitions, asset impairment charges, cost structure improvements, competition and general economic conditions and the other risks and uncertainties discussed more fully in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2012 and Part II, Item 1A of our Quarterly Report on Form 10-Q for the period ended January 31, 2013. We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this presentation or to reflect any change in our expectations after the date of this presentation or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Forward Looking Statements

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The sole owner of operating subsidiaries that represent the world’s largest manufacturer of recreation vehicles

• Founded in 1980 by Wade Thompson & Peter Orthwein with the acquisition of Airstream, Inc.

• #1 in overall RV 36.3% of market*

• #1 in Travel Trailers 33.2% of market*

• #1 in Fifth Wheels 52.4% of market*

• #2 in Motorhomes 19.8% of market**

The sole owner of operating subsidiaries that combined represent one of the largest manufacturers of mid-size buses in North America - 34% of market***

Approximately 8,800 employees

96 facilities in 7 US states

6.1 million square feet under roof

Who is THOR

Source: *Statistical Surveys, Inc., YTD U.S. and Canada units December 2012, excluding fold-

downs **Motorhomes includes Class A, B and C *** MSBMA, YTD September 2012

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Travel Trailers

Fifth Wheels

Motor Homes

Buses

Ambulances

THOR’s Product Range

Towable RV

$2,285,863 74%

Motorized RV

$353,935 12%

Bus Group $444,862

14%

FY2012 Sales*

* Fiscal year ended July 31, 2012

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THOR Subsidiaries: RV

6

THOR’s Subsidiaries : Bus Group

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Disciplined, Profitable Growth

• Profitable every year since 1980

• All time record $3.1 billion sales F2012, up 12% from F2011

• $2.8 billion sales in F2011, up 21% from $2.3 billion sales in F2010

• F2012 Net Income of $121.7 million, up 15% from F2011

• F2012 EPS of $2.26, up 18% from $1.92 in F2011

Sustainable Business Model

• Profitably weathered a severe downturn

• Increased capital investments position Thor for growth and margin improvement over the long term

Solid Balance Sheet

• Cash and cash equivalents of $108.1 million on January 31, 2013

• Operations historically generate significant cash

• Solid history of dividends, increased from $0.15 to $0.18 at the beginning of FY13

Why Invest in THOR

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Proven business model:

• Entrepreneurial and decentralized

• No ivory tower: approximately 8,800 employees, only 40 in corporate staff

• Decision-making driven by the customer

• Big, but nimble

• Best management team in the business, as proven by sustained performance

An innovator in each of its business segments

Significant RV & Bus market leadership:

• Best positioned in towable RVs, historically fastest growing area

• #2 in Motorhomes, poised for growth

• Well positioned in the bus segment to drive complementary growth in luxury market

Strong balance sheet to support growth and shareholder returns

• Paid $1.50 per share special dividend in December 2012

What Makes THOR Different

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Focus on assembly - not heavy manufacturing • Limited vertical integration – only where it makes sense • Flexibility – performance in any market condition • Low overhead costs • High return on assets employed

Strong market share in all RV reportable segments

• Provides scale and purchasing power • Low cost producer

Balance sheet supports acquisitions and organic growth

Meaningful, strategic capacity

Diversified lineup of innovative product offerings

Preferred partnership in retail/wholesale financing

Strength to pay warranty and honor repurchase agreements, important to dealers and

consumers

THOR’s Competitive Advantages

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No golden parachutes

No ‘pro forma’ earnings. We report net income, not adjusted earnings to cover up performance

Consistent focus on shareholder value

Simple compensation philosophy:

• Mainly cash compensation, without a cap, based on pre-tax income – a true pay for performance philosophy

• Shift focus from stock options to restricted stock units

Corporate Integrity

Recreation Vehicles

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Consolidation within very competitive environment

• Many competitors closed or have been sold

• Top three RV competitors account for 77.0% of industry units*

• “Flight to quality” – consumers, dealers, lenders all seek to do business with strong companies like Thor

Industry better balanced today

Pricing & promotional environment remains highly competitive

Consumer confidence better than last year, recent improvements

Wholesale and Retail lenders are prudent - applying “healthy discipline”

RV buyers seek the “power of choice” – want lots of variety in brands and models

Industry Conditions: RV

*Source: Statistical Surveys, Inc., U.S. YTD December 2012

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Dealers

• Continued optimism

• Right-sized inventory

• Smaller base of dealers

• Access to wholesale credit

• Financial health

RV: State of Balance

RV 2013 2012 % change

Towables $375 $300 +25%

Motorized $241 $113 +113%

SUB-TOTAL $616 $413 +49%

Backlog: January 31 ($ millions)

Consumers

• Better access to retail credit

• Confidence better

• Low interest rates

• Great demographic trends

• Will shorten trips to reduce fuel usage

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THOR RV Dealer Inventory

• Total Dealer inventory remains appropriate for current conditions

• Dealer inventory at January 31, 2013 up 17.5% compared with

January 31, 2012, even with sales up 24% year-over-year for the

fiscal second quarter

• Lenders still comfortable with current dealer inventory turns, level of

aged inventory and current credit line utilization

2013 2012 % change

RV 61,209 52,091 +17.5%

Dealer Inventory: January 31 (units)

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THOR’s RV Competitive Advantage

Source: Statistical Surveys, Inc., U.S. YTD December 2012

* Thor includes Heartland in 2010-12

** Includes Palomino, Coachmen, Prime Time, Shasta and Dynamax

*** Includes Winnebago towable RVs in 2010-12

U.S. Retail Registrations (units, excluding fold-downs)

Total Share % Total Share % Total Share % Total Share %

THOR* 72,988 36.3% 67,278 36.6% 64,837 37.3% 46,106 29.1%

Forest River** 60,322 30.0% 52,856 28.8% 46,788 26.9% 34,897 22.0%

Jayco 21,413 10.7% 20,048 10.9% 17,784 10.2% 16,586 10.5%

Heartland* - 0.0% - 0.0% - 0.0% 7,178 4.5%

Winnebago*** 6,223 3.1% 4,852 2.6% 5,180 3.0% 3,844 2.4%

Fleetwood 2,431 1.2% 2,170 1.2% 2,760 1.6% 3,016 1.9%

Navistar 2,051 1.0% 2,193 1.2% 2,574 1.5% 5,713 3.6%

Subtotal 165,428 82.3% 149,397 81.3% 139,923 80.4% 117,340 73.9%

All Others 35,544 17.7% 34,386 18.7% 34,023 19.6% 41,350 26.1%

Grand Total 200,972 100.0% 183,783 100.0% 173,946 100.0% 158,690 100.0%

Y/E 12/31/12 Y/E 12/31/11 Y/E 12/31/10 Y/E 12/31/09

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Dealer restocking completed as of September 2010

Dealer inventories remain appropriate for consumer demand

“Now, it’s all about the retail consumer”

The RV Market Ahead

* Statistical Surveys, inc., includes US and Canada. 2009, 2010, 2011 & 2012 Actual, excluding camping trailers

** RVIA wholesale shipments excluding camping trailers and truck campers

Calendar Year

2009 2010 2011 2012

Industry Retail

Sales*

189,328 units 213,074 units

(+12.5%)

232,970 units

(+9.3%)

251,201 units

(+7.8%)

Industry

Wholesale

Shipments**

151,500 units 224,400 units

(+48.1%)

237,762 units

(+6.0%)

271,078 units

(+14.0%)

Wholesale & Retail units should be fairly balanced going forward

Buses

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Top player in $1 billion industry

34% market share*

A leader in low cost, fuel efficient transit, alternative fuel

Success in 40-ft. low floor bus industry

Top-quality sales and service network

Majority of our buses have certified 5-year life. Must be replaced regularly

Certified ISO 9001. World class quality

Acquired Krystal Infinity, LLC, in October 2012, a manufacturer of luxury coaches with revenues of approximately $30 million annually

Acquired Federal Coach in December 2012, a premier luxury coach manufacturer with revenues of approximately $25 million annually

Bus segment includes SJC Industries Corp., acquired March 1, 2010 • Maker of ambulances under the McCoy Miller / Marque Brands

THOR Bus

* MSBMA –YTD September 2012

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Mid-size buses are the most cost effective, common sense mass transportation

Transit bus cost is generally 80% federally funded

2013 opportunities

• Transit customers must replace buses

• Still competitive pricing

• New products in luxury market to enhance revenues with better margin opportunity

• New Advantage product completed Altoona testing

Current Conditions: Bus

2013 2012 % change

Bus $205 $234 -12%

Bus Backlog: January 31 ($ millions)

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Profitable every year since inception

Successfully weathered a severe downturn

Two growing businesses – RV and Bus

Increased capital investments position Thor for growth and margin improvement over the long term

#1 towable RV market share

Rock-solid balance sheet. Significant cash and cash generation

Diversified and innovative products

Strong consumer, dealer and lender relationships

Best management in the business

THOR - Key Takeaways

Appendix: Financial & Market Data

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Sales ($ millions) Fiscal years ended July 31, Year to date ended Jan. 31

$822

$1,245

$1,571

$2,188

$2,558

$3,066 $2,856

$2,641

$1,522

$2,277

$2,756

$3,085

$1,270

$1,617

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD '12 YTD '13

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Net Income ($ millions) Fiscal years ended July 31, Year to date ended Jan. 31

$26.7

$51.2

$78.6

$104.5

$119.1

$163.4

$134.7

$92.7

$17.1

$110.1 $106.3

$121.7

$36.0

$50.9

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD '12 YTD '13

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Basic EPS Fiscal years ended July 31, Year to date ended Jan. 31

$0.56

$0.94

$1.38

$1.83

$2.10

$2.89

$2.42

$1.67

$0.31

$2.08 $1.92

$2.26

$0.66

$0.96

2001* 2002* 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD '12 YTD '13

*Adjusted for 2-for-1 stock split

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Continued revenue performance in both segments in quarter – strength in motorized and towable RVs as well as growth in bus segment

Early retail RV shows have been very positive, with improved traffic and higher sales levels reflecting continued strength for the industry

Dealers remain optimistic, dealers and lenders comfortable with current inventory levels Increasing RV order backlogs

Competitive promotional environment – discounts and promotions in towable RV and bus

markets continued to impact margins for the second quarter

Lower tax rate in 2Q F2013 compared with 2Q F2012 (22.1% vs. 36.4%) due to the settlement of certain state uncertain tax benefits and the retroactive reinstatement of the Federal R&D tax credit

Lower share count this year vs. last year due to repurchases (53.0 million vs. 54.6 million)

Regular quarterly dividend - payment increased by 20% on 9/6/12 to $0.18 per share from $0.15 per share. Regular quarterly dividend of $0.18 per share and special dividend of $1.50 per share paid on December 28, 2012

Based on current market trends, management expects continued sales growth and second half operating margins consistent with the second half of fiscal 2012

Comments on 2nd Quarter 2013 Results

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0

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1Q

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Quarterly Thor RV Unit Shipments

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Thor RV Retail Market Share: Units

* US Statistical Surveys, measured at calendar year end

29.0% 29.2% 30.4% 31.2%

40.3% 39.0% 38.6%

14.1% 13.9% 14.9% 16.2%

17.4%

20.0% 20.0%

4.0% 5.3%

3.1%

7.9%

14.6%

17.0% 18.2%

2006 2007 2008 2009 2010 2011 2012

TT/FW Retail Share* Class A/C Retail Share* Class B Retail Share*

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RV Market Wholesale Trends: Units (000’s) 2

95

.8 33

9.6

44

1.1

41

3.9

38

9.9

19

9.2

10

7.2

13

3.6

14

0.6

19

6.6

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5.7

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6.9

18

9.9

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21

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18

7.9

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16

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3.4

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7.8

25

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7.0

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29

2.7

32

1.2

30

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25

6.8

311

.0

32

0.8

37

0.1

38

4.4

39

0.5

35

3.4

23

7.0

16

5.7

24

2.3

25

2.3

28

5.8

30

7.3

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(e)

Historical Data: Recreation Vehicle Industry Association, Calendar year 2013: RVIA

estimate

www.thorindustries.com