www.thorindustries.com

CITI INVESTOR MEETINGS AUGUST 15, 2013

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This release 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, the impact of the divestiture of the Company’s bus businesses, 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 April 30, 2013. We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any change in our expectations after the date of this release 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 35.8% of market*

• #2 in Travel Trailers 32.9% of market*

• #1 in Fifth Wheels 49.8% of market*

• #1 in Motorhomes 25.2% of market**

On July 31, 2013 announced the pending sale of its bus business to Allied Specialty Vehicles for $100 million in cash subject to customary closing conditions. This sale is expected to close by November 1, 2013

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 YTD May 2013, excluding fold-

downs **Motorhomes includes Class A, B and C *** as of July 31, 2012

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Travel Trailers

Fifth Wheels

Motor Homes

Buses**

THOR’s Product Range

Towable RV's

$2,649,777 72%

Motorized RV's

$591,240 16%

Bus Group** $448,756

12%

FY2013 Preliminary Sales*

*Fiscal year ended July 31, 2013

($ in millions)

** Bus Group sales will be presented as Discontinued Operations in the upcoming form 10-K, due

to the pending sale.

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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 $228 $224 +2%

Motorized $213 $111 +92%

TOTAL $441 $335 +32%

Backlog: July 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 Subsidiaries

Recent Developments

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Thor’s management team recently developed a three-year strategic plan focused on growth and margin improvement

The Strategic Plan was developed using a bottoms-up approach involving each of the Company’s operating subsidiaries and management teams

Key elements of growth include product innovation and capacity expansion – targeting mid- to high-single-digit growth

Key elements of margin expansion include improved product quality, value added

content and features, and volume leverage – targeting 200 basis points of gross margin improvement over the planning horizon

RV Expansion On June 3, 2013, Thor acquired the RV production facilities in Wakarusa, Indiana

formerly operated by Navistar to expand motorized production to meet current demand and to vertically integrate RV paint operations

Nearly one million square feet of production space and 35 paint booths on 150 acres

Final transition plans to be implemented when the seller exits, which is expected late this summer

Three-Year Strategic Plan

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On July 31, 2013 Thor announced an agreement to sell its bus business to Allied Specialty Vehicles for $100 million in cash, subject to closing adjustments

Thor’s bus business includes Champion Bus, Inc., General Coach America, Inc., Goshen Coach, Inc., El Dorado National California, Inc., and El Dorado National Kansas, Inc. which generated sales of approximately $449 million for the fiscal year ended July 31, 2013

Thor will continue to operate the bus business until closing, which is expected to occur on or before November 1, 2013

The Company does not anticipate any impairment to goodwill or intangible assets of the bus business as a result of the sale

Divesting the bus business will allow Thor to focus on maintaining and growing the Company’s leadership position in the core RV business

Results of the Bus segment will be presented as discontinued operations in Thor’s annual report filed on Form 10-K for the year ended July 31, 2013 to be released in late September 2013

Sale of the Bus Business

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Consolidated sales for the third quarter of fiscal 2013 were $1.05 billion, up 13% from $926.5 million in

the third quarter last year, based on strength in recreational vehicle (RV) sales. Net income for the third quarter was $43.8 million, up 6% from $41.3 million in the prior-year third quarter. Diluted earnings per share (EPS) for the third quarter was $0.82, up 5% from $0.78 in the third quarter last year.

Included in net income and EPS for the third quarter of fiscal 2013 were non-cash goodwill and intangible asset impairment charges of approximately $11.5 million. This included a $4.7 million intangible asset impairment charge triggered by the expected sale of the net assets associated with the Company’s ambulance product line, and a $6.8 million goodwill impairment charge relating to the bus segment reporting unit which historically included the ambulance product line. These charges reduced EPS by $0.15 for the quarter. Excluding these items, EPS would have been $0.97 for the quarter.

Total RV segment sales were $929.8 million, up 15% from $807.2 million in the third quarter last year. RV segment income before tax was $77.6 million, up 31% from $59.2 million in the prior-year period.

Towable RV sales were $742.5 million, up 9% from $680.5 million in the prior-year period. Income before tax was $62.5 million, up 22% from $51.1 million in the third quarter last year. Towable RV income before tax increased to 8.4% of revenues from 7.5% a year ago, as a result of increased volumes and specific actions taken to improve operating efficiencies.

Motorized RV sales were $187.3 million, up 48% from $126.7 million in the prior-year third quarter. Income before tax was $15.1 million, up 86% from $8.1 million last year. As a percent of revenues, motorized RV income before tax rose to 8.1% of revenues from 6.4% a year ago, driven by improved product mix, volumes and enhanced operating efficiencies.

Bus segment sales were $119.4 million, up slightly from $119.3 million in the third quarter last year. Income before tax was a loss of $7.7 million, compared to income of $2.8 million in the third quarter last year. Bus segment income before tax was unfavorably impacted by the non-cash impairment charges relating to goodwill and intangibles of approximately $11.5 million.

Comments on 3rd Quarter 2013 Results

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RV Market Motorized Wholesale Trends: Units

(000’s)

68

.9

96

.6

15

6.1

16

0.2

15

7.2

64

.1

28

.5

35

.4

41

.2

69

.5 82

.0

68

.7

67

.7

73

.7

72

.8

61

.1

52

.3

41

.9

46

.9

51

.3

58

.2

52

.8

55

.3

55

.1

63

.5

71

.5

61

.0

49

.2

60

.4

62

.0

71

.7

61

.4

55

.8

55

.4

28

.4

13

.2 25

.2

24

.8

28

.2

33

.5

35

.6

197

4

197

5

197

6

197

7

197

8

197

9

198

0

198

1

198

2

198

3

198

4

198

5

198

6

198

7

198

8

198

9

199

0

199

1

199

2

199

3

199

4

199

5

199

6

199

7

199

8

199

9

200

0

200

1

200

2

200

3

200

4

200

5

200

6

200

7

200

8

200

9

201

0

201

1

201

2

201

3 (

e)

201

4 (

e)

Historical Data: Recreation Vehicle Industry Association, Calendar year 2013 and 2014:

RVIA estimate as of Summer 2013

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RV Market Towable Wholesale Trends: Units

(000’s)

12

6.3

15

0.6

18

9.7

16

7.9

15

9.8

90

.2

49

.1

58

.1

59

.5 82

.8

85

.3

75

.4

78

.2

86

.2

89

.6

82

.9

80

.4

77

.6 10

2.6

11

3.6

12

8.3

12

1.2

12

3.9

13

1.6

15

5.0

17

8.0

17

6.8

15

6.9

19

5.8

21

4.4

25

4.6

28

1.3

29

2.4

26

1.7

18

5.1

13

8.3

19

9.2

21

2.9

24

2.9

26

1.5

27

1.1

197

4

197

5

197

6

197

7

197

8

197

9

198

0

198

1

198

2

198

3

198

4

198

5

198

6

198

7

198

8

198

9

199

0

199

1

199

2

199

3

199

4

199

5

199

6

199

7

199

8

199

9

200

0

200

1

200

2

200

3

200

4

200

5

200

6

200

7

200

8

200

9

201

0

201

1

201

2

201

3 (

e)

201

4 (

e)

Historical Data: Recreation Vehicle Industry Association, excluding camping trailers and

truck campers, Calendar year 2013 and 2014: RVIA estimate as of Summer 2013

www.thorindustries.com