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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SCHEDULE TO

Tender Offer Statement Under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934

Arctic Cat Inc. (NameofSubjectCompany(Issuer))

Aces Acquisition Corp., Textron Specialized Vehicles Inc.

and

Textron Inc. (NameofFilingPersons(Offerors)

Common Stock, par value $0.01 per share (TitleofClassofSecurities)

039670104 (CUSIPNumberofClassofSecurities)

E. Robert Lupone Executive Vice President, General Counsel and Secretary

Textron Inc. 40 Westminster Street, Providence, RI 02903

Telephone: (401) 421-2800 (Name,AddressandTelephoneNumberofPersonAuthorized

toReceiveNoticesandCommunicationsonBehalfofFilingPersons)

Copy to: Robert M. Katz

Shearman & Sterling LLP 599 Lexington Avenue New York, NY 10022

Telephone: (212) 848-4000

Calculation of Filing Fee

Transaction Valuation(1) Amount of Filing Fee(2)

$246,258,816.78 $28,541.40

(1) Estimatedforpurposesofcalculatingtheamountofthefilingfeeonly,inaccordancewithRule0-11(d)undertheSecuritiesExchangeActof1934,asamended(the"ExchangeAct").Calculatedbyadding(a)13,061,142sharesofcommonstockofArcticCatInc.issuedandoutstanding,multipliedby$18.50,thepersharetenderofferprice,(b)480,518sharesofcommonstocksubjecttooutstandingstockoptionswithanexercisepricelessthan$18.50pershare,multipliedby$2.71,whichistheofferpriceof$18.50pershareminustheweightedaverageexercisepriceforsuchoptionsof$15.79pershare,and(c)179,756sharesofcommonstocksubjecttooutstandingrestrictedstockunits,multipliedby$18.50,thepersharetenderofferprice,ineachcaseasofJanuary31,2017.ThecalculationofthefilingfeeisbasedoninformationprovidedbyArcticCatInc.asofJanuary31,2017.

(2) ThefilingfeewascalculatedinaccordancewithRule0-11oftheExchangeActandFeeRateAdvisory#1forfiscalyear2017,issuedOctober1,2016,bymultiplyingthetransactionvaluationby0.0001159.

o ChecktheboxifanypartofthefeeisoffsetasprovidedbyRule0-11(a)(2)andidentifythefilingwithwhichtheoffsettingfeewaspreviouslypaid.Identifythepreviousfilingbyregistrationstatementnumber,ortheFormorScheduleanddateofitsfiling.

o Checktheboxifthefilingrelatessolelytopreliminarycommunicationsmadebeforethecommencementofatenderoffer.

Checktheappropriateboxesbelowtodesignateanytransactionstowhichthestatementrelates:

ý third-partytenderoffersubjecttoRule14d-1.

o issuertenderoffersubjecttoRule13e-4.

o going-privatetransactionsubjecttoRule13e-3.

o amendmenttoSchedule13DunderRule13d-2.

AmountPreviouslyPaid: None FilingParty: N/AFormorRegistrationNo.: N/A DateFiled: N/A

Checkthefollowingboxifthefilingisafinalamendmentreportingtheresultsofthetenderoffer:o

ThisTenderOfferStatementonScheduleTOisfiledbyAcesAcquisitionCorp.,aMinnesotacorporation("Purchaser")andadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron"),TextronSpecializedVehiclesandTextron.ThisScheduleTOrelatestotheofferbyPurchasertopurchasealloftheoutstandingsharesofcommonstock,parvalue$0.01pershare(each,a"Share"andcollectively,the"Shares")ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),atapriceof$18.50perShare,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthintheoffertopurchase,datedFebruary2,2017(asitmaybeamendedorsupplemented,the"OffertoPurchase"),andtherelatedletteroftransmittal(asitmaybeamendedorsupplemented,the"LetterofTransmittal,"andtogetherwiththeOffertoPurchase,the"Offer"),copiesofwhichareattachedtothisScheduleTOasExhibits(a)(1)(A)and(a)(1)(B),respectively.PursuanttoGeneralInstructionFtoScheduleTO,theinformationcontainedintheOffertoPurchase,includingallschedulesandannexestotheOffertoPurchase,isherebyexpresslyincorporatedinthisScheduleTObyreferenceinresponsetoItems1through11ofthisScheduleTOandissupplementedbytheinformationspecificallyprovidedforinthisScheduleTO.TheAgreementandPlanofMerger,datedasofJanuary24,2017(asitmaybeamended,restatedorsupplementedfromtimetotime,the"MergerAgreement"),amongTextron,PurchaserandArcticCat,acopyofwhichisattachedasExhibit(d)(1)tothisScheduleTO,isincorporatedinthisScheduleTObyreferencewithrespecttoItems4through11ofthisScheduleTO.

Item 1. Summary Term Sheet.

TheinformationsetforthinthesectionoftheOffertoPurchaseentitled"SummaryTermSheet"isincorporatedinthisScheduleTObyreference.

Item 2. Subject Company Information.

(a)ThesubjectcompanyandissuerofthesecuritiessubjecttotheOfferisArcticCat.Itsprincipalexecutiveofficeislocatedat500North3rdStreet,Minneapolis,Minnesota55401,anditstelephonenumberis(612)350-1800.

(b)ThisScheduleTOrelatestoArcticCat'ssharesofcommonstock,parvalue$0.01pershare.AccordingtoArcticCat,asofthecloseofbusinessonJanuary31,2017,therewere(i)13,061,142Sharesissuedandoutstanding,(ii)480,518SharesissuableuponexerciseofoutstandingstockoptionsgrantedunderArcticCat'sstockplanswithexercisepricesbelow$18.50pershareand(iii)179,756SharesissuablepursuanttooutstandingrestrictedstockunitsgrantedunderArcticCat'sstockplans.

(c)TheinformationconcerningtheprincipalmarketinwhichtheSharesaretradedandcertainhighandlowsalespricesfortheSharesinthatprincipalmarketissetforthinthesectionoftheOffertoPurchaseentitled"PriceRangeoftheShares;Dividends"andisincorporatedinthisScheduleTObyreference.

Item 3. Identity and Background of Filing Person.

(a),(b),(c)TheinformationsetforthinthesectionoftheOffertoPurchaseentitled"CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser"andinScheduleItotheOffertoPurchaseisincorporatedinthisScheduleTObyreference.

Item 4. Terms of the Transaction.

(a)(1)(i)-(viii),(x),(xii)Theinformationsetforthinthe"SummaryTermSheet,""Introduction"andinthesectionsoftheOffertoPurchaseentitled"TermsoftheOffer,""AcceptanceforPaymentandPaymentforShares,""ProceduresforAcceptingtheOfferandTenderingShares,""Withdrawal

2

Rights,""MaterialUnitedStatesFederalIncomeTaxConsequences,""PossibleEffectsoftheOfferontheMarketfortheShares;NASDAQListing;ExchangeActRegistration;MarginRegulations"and"ConditionsoftheOffer"isincorporatedinthisScheduleTObyreference.

(a)(1)(ix),(xi)Notapplicable.

(a)(2)(i)-(v)and(vii)TheinformationsetforthinthesectionsoftheOffertoPurchaseentitled"TermsoftheOffer,""MaterialUnitedStatesFederalIncomeTaxConsequences,""BackgroundoftheOffer;PastContactsorNegotiationswithArcticCat,""PurposeoftheOffer;PlansforArcticCat;OtherMatters"and"MergerAgreement;OtherAgreements"isincorporatedinthisScheduleTObyreference.

(a)(2)(vi)Notapplicable.

Item 5. Past Contacts, Transactions, Negotiations and Agreements.

(a),(b)TheinformationsetforthinthesectionsoftheOffertoPurchaseentitled"CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser,""BackgroundoftheOffer;PastContactsorNegotiationswithArcticCat,""PurposeoftheOffer;PlansforArcticCat;OtherMatters"and"MergerAgreement;OtherAgreements"isincorporatedinthisScheduleTObyreference.

Item 6. Purposes of the Transaction and Plans or Proposals.

(a),(c)(1),(c)(3-7)Theinformationsetforthinthe"Introduction"andinthesectionsoftheOffertoPurchaseentitled"BackgroundoftheOffer;PastContactsorNegotiationswithArcticCat,""PurposeoftheOffer;PlansforArcticCat;OtherMatters,""MergerAgreement;OtherAgreements,""DividendsandDistributions"and"PossibleEffectsoftheOfferontheMarketfortheShares;NASDAQListing;ExchangeActRegistration;MarginRegulations"isincorporatedinthisScheduleTObyreference.

(c)(2)None.

Item 7. Source and Amount of Funds or Other Consideration.

(a),(b),(d)TheinformationsetforthinthesectionoftheOffertoPurchaseentitled"SourceandAmountofFunds"isincorporatedinthisScheduleTObyreference.

Item 8. Interest in Securities of the Subject Company.

(a)TheinformationsetforthinthesectionoftheOffertoPurchaserentitled"CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser"isincorporatedinthisScheduleTObyreference.

(b)None.

Item 9. Persons/Assets, Retained, Employed, Compensated or Used.

(a)Theinformationsetforthinthe"Introduction"andinthesectionsoftheOffertoPurchaseentitled"FeesandExpenses"isincorporatedinthisScheduleTObyreference.

Item 10. Financial Statements of Certain Bidders.

(a),(b)NotApplicable.

3

Item 11. Additional Information.

(a)(1)TheinformationsetforthinthesectionsoftheOffertoPurchaseentitled"CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser,""PurposeoftheOffer;PlansforArcticCat;OtherMatters"and"MergerAgreement;OtherAgreements"isincorporatedinthisScheduleTObyreference.

(a)(2)and(a)(3)TheinformationsetforthinthesectionsoftheOffertoPurchaseentitled"PurposeoftheOffer;PlansforArcticCat;OtherMatters,""MergerAgreement;OtherAgreements"and"LegalMatters;RequiredRegulatoryApprovals"isincorporatedinthisScheduleTObyreference.

(a)(4)TheinformationsetforthinthesectionoftheOffertoPurchaseentitled"PossibleEffectsoftheOfferontheMarketfortheShares;NASDAQListing;ExchangeActRegistration;MarginRegulations"isincorporatedinthisScheduleTObyreference.

(a)(5)TheinformationsetforthinthesectionsoftheOffertoPurchaseentitled"PurposeoftheOffer;PlansforArcticCat;OtherMatters,""MergerAgreement;OtherAgreements"and"LegalMatters;RequiredRegulatoryApprovals"isincorporatedinthisScheduleTObyreference.

(c)TheinformationsetforthintheOffertoPurchaseandtheLetterofTransmittal,copiesofwhichareattachedheretoasExhibits(a)(1)(A)and(a)(1)(B),respectively,totheextentnototherwiseincorporatedhereinbyreference,isincorporatedhereinbyreference.

Item 12. Exhibits.

Item 13. Information Required by Schedule 13E-3.

Notapplicable.

4

(a)(1)(A) OffertoPurchase,datedFebruary2,2017.*

(a)(1)(B) FormofLetterofTransmittal.*

(a)(1)(C) FormofNoticeofGuaranteedDelivery.*

(a)(1)(D) FormofLettertoBrokers,Dealers,CommercialBanks,TrustCompaniesandOtherNominees.*

(a)(1)(E) FormofLettertoClientsforUsebyBrokers,Dealers,CommercialBanks,TrustCompaniesandOtherNominees.*

(a)(1)(F) FormofInstructionstoPlanParticipantsintheArcticCatInc.RetirementSavingsPlan.*

(a)(1)(G) SummaryAdvertisementaspublishedinThe Wall Street Journal onFebruary2,2017.*

(a)(5)(A) ExcerptfrompressreleaseissuedbyTextronInc.onJanuary25,2017,originallyfiledasExhibit(a)(5)(A)totheScheduleTO-CfiledbyTextronInc.,TextronSpecializedVehiclesInc.andAcesAcquisitionCorp.withtheSecuritiesandExchangeCommissiononJanuary25,2017,whichisincorporatedhereinbyreference.

(a)(5)(B) PressreleaseissuedbyTextronInc.onFebruary2,2017.*

(b) Notapplicable.

(d)(1) AgreementandPlanofMerger,datedasofJanuary24,2017,amongTextronInc.,AcesAcquisitionCorp.andArcticCatInc.,originallyfiledasExhibit2.1toArcticCatInc.'sForm8-KfiledwiththeSecuritiesandExchangeCommissiononJanuary25,2017,whichisincorporatedhereinbyreference.

(d)(2) ConfidentialityAgreement,datedOctober6,2016,byandbetweenArcticCatInc.andTextronInc.*

(g) Notapplicable.

(h) Notapplicable.

* Filedherewith.

SIGNATURE

Afterdueinquiryandtothebestofmyknowledgeandbelief,Icertifythattheinformationsetforthinthisstatementistrue,completeandcorrect.

Dated:February2,2017

5

ACES ACQUISITION CORP.

By: /s/ELIZABETHC.PERKINS

Name: ElizabethC.Perkins Title: Vice President

TEXTRON SPECIALIZED VEHICLES INC.

By: /s/ELIZABETHC.PERKINS

Name: ElizabethC.Perkins Title: Vice President

TEXTRON INC.

By: /s/E.ROBERTLUPONE

Name: E.RobertLupone Title: Executive Vice President, General

Counsel, Secretary and Chief Compliance Officer

EXHIBIT INDEX

(a)(1)(A) OffertoPurchase,datedFebruary2,2017.*

(a)(1)(B) FormofLetterofTransmittal.*

(a)(1)(C) FormofNoticeofGuaranteedDelivery.*

(a)(1)(D) FormofLettertoBrokers,Dealers,CommercialBanks,TrustCompaniesandOtherNominees.*

(a)(1)(E) FormofLettertoClientsforUsebyBrokers,Dealers,CommercialBanks,TrustCompaniesandOtherNominees.*

(a)(1)(F) FormofInstructionstoPlanParticipantsintheArcticCatInc.RetirementSavingsPlan.*

(a)(1)(G) SummaryAdvertisementaspublishedinThe Wall Street Journal onFebruary2,2017.*

(a)(5)(A) ExcerptfrompressreleaseissuedbyTextronInc.onJanuary25,2017,originallyfiledasExhibit(a)(5)(A)totheScheduleTO-CfiledbyTextronInc.,TextronSpecializedVehiclesInc.andAcesAcquisitionCorp.withtheSecuritiesandExchangeCommissiononJanuary25,2017,whichisincorporatedhereinbyreference.

(a)(5)(B) PressreleaseissuedbyTextronInc.onFebruary2,2017.*

(b) Notapplicable.

(d)(1) AgreementandPlanofMerger,datedasofJanuary24,2017,amongTextronInc.,AcesAcquisitionCorp.andArcticCatInc.,originallyfiledasExhibit2.1toArcticCatInc.'sForm8-KfiledwiththeSecuritiesandExchangeCommissiononJanuary25,2017,whichisincorporatedhereinbyreference.

(d)(2) ConfidentialityAgreement,datedOctober6,2016,byandbetweenArcticCatInc.andTextronInc.*

(g) Notapplicable.

(h) Notapplicable.

* Filedherewith.

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Item1.SummaryTermSheet.Item2.SubjectCompanyInformation.Item3.IdentityandBackgroundofFilingPerson.Item4.TermsoftheTransaction.Item5.PastContacts,Transactions,NegotiationsandAgreements.Item6.PurposesoftheTransactionandPlansorProposals.Item7.SourceandAmountofFundsorOtherConsideration.Item8.InterestinSecuritiesoftheSubjectCompany.Item9.Persons/Assets,Retained,Employed,CompensatedorUsed.Item10.FinancialStatementsofCertainBidders.Item11.AdditionalInformation.Item12.Exhibits.Item13.InformationRequiredbySchedule13E-3.

SIGNATUREEXHIBITINDEX

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EXHIBIT (a)(1)(A)

Offer To Purchase For Cash All Outstanding Shares Of Common Stock

of

Arctic Cat Inc. at

$18.50 Per Share by

Aces Acquisition Corp.,

Textron Specialized Vehicles Inc.and

Textron Inc.

THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 3, 2017 UNLESS THE OFFER ISEXTENDED.

AcesAcquisitionCorp.,aMinnesotacorporation("Purchaser")andadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron"),isofferingtopurchasealloutstandingsharesofcommonstock,parvalue$0.01pershare(each,a"Share"andcollectively,the"Shares"),ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),atapriceof$18.50perShare(the"OfferPrice"),payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthinthisOffertoPurchase(asitmaybeamendedorsupplemented,this"OffertoPurchase")andintherelatedLetterofTransmittal(asitmaybeamendedorsupplemented,the"LetterofTransmittal"and,togetherwiththisOffertoPurchase,the"Offer").

TheOfferisbeingmadepursuanttotheAgreementandPlanofMerger,datedasofJanuary24,2017(asitmaybeamended,restatedorsupplementedfromtimetotime,the"MergerAgreement"),amongTextron,PurchaserandArcticCat.PursuanttotheMergerAgreement,followingtheconsummationoftheOfferandthesatisfactionor,totheextentpermittedbyapplicablelaw,waiverofeachoftheapplicableconditionssetforthintheMergerAgreement,PurchaserandArcticCatwillmerge(the"Merger"),withArcticCatasthesurvivingcorporationintheMergercontinuingasanindirectwhollyownedsubsidiaryofTextron.AsaresultoftheMerger,eachoutstandingShare(otherthanSharesownedby(a)TextronorPurchaseroranyothersubsidiaryofTextronor(b)anyshareholderofArcticCatwhoisentitledtoandproperlydemandsandexercisesdissenters'rightswithrespecttosuchSharespursuantto,andcompliesinallrespectswith,theapplicableprovisionsofMinnesotalaw)willattheeffectivetimeoftheMergerbeconvertedintotherighttoreceiveanamountequaltotheOfferPrice,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.

ARCTIC CAT'S BOARD OF DIRECTORS RECOMMENDS THAT YOU TENDER ALL OF YOUR SHARES INTO THE OFFER.

OnJanuary23,2017,eachoftheArcticCatBoardofDirectors(the"ArcticCatBoard")and,asrequiredbytheMinnesotaBusinessCorporationAct,acommitteeofdisinteresteddirectorsoftheArcticCatBoard,amongotherthings,(i)determinedthattheMergerAgreementandthetransactionscontemplatedtherebyareadvisable,fairtoandinthebestinterestsofArcticCatanditsshareholders,(ii)approvedandadoptedtheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMerger,and(iii)recommendedthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserintheOfferand,ifrequiredtoconsummatetheMerger,such

shareholdersapproveandadopttheMergerAgreementandtheMerger.Accordingly,andforotherreasonsdescribedinmoredetailinArcticCat'sTenderOfferSolicitation/RecommendationStatementonSchedule14D-9thatisbeingfiledwiththeUnitedStatesSecuritiesandExchangeCommission(the"SEC")and,togetherwiththisOffertoPurchase,theLetterofTransmittalandotherrelatedmaterials,mailedtotheshareholdersofArcticCatinconnectionwiththeOffer,theArcticCatBoardunanimouslyrecommendsthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserpursuanttotheOffer.

ThereisnofinancingconditiontotheOffer.TheOfferis,however,subjecttothesatisfactionoftheMinimumCondition(asdefinedinthe"Introduction"totheOffertoPurchase)andtheotherconditionsdescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchase.AsummaryoftheprincipaltermsoftheOfferappearsinSection1—"TermsoftheOffer"ofthisOffertoPurchase.YoushouldreadthisentiredocumentcarefullybeforedecidingwhethertotenderyourShares.

QuestionsandrequestsforassistancemaybedirectedtoAllianceAdvisorsLLC,theInformationAgent,atitsaddressandtelephonenumbersetforthbelowandonthebackcoverofthisOffertoPurchase.AdditionalcopiesofthisOffertoPurchase,therelatedLetterofTransmittal,theNoticeofGuaranteedDelivery(asitmaybeamendedorsupplemented,the"NoticeofGuaranteedDelivery")andotherrelatedmaterialsmaybeobtainedfromtheInformationAgentoratthewebsitemaintainedbytheSECatwww.sec.gov .ShareholdersofArcticCatalsomaycontacttheirbroker,dealer,commercialbank,trustcompanyorothernomineeforcopiesofthesedocuments.

The Information Agent for the Offer is:

AllianceAdvisorsLLC

200BroadacresDrive,3rdFloorBloomfield,NJ07003

Call Collect: (973)873-7780or

Call Toll-Free: (888)991-1293Email: reorg@allianceadvisorsllc.com

February 2, 2017

2

IMPORTANT

ShareholdersofArcticCatdesiringtotenderSharesmust:

1. ForSharesthatareregisteredinthenameofabroker,dealer,commercialbank,trustcompanyorothernominee:

• contactthebroker,dealer,commercialbank,trustcompanyorothernomineeandrequestthatthebroker,dealer,commercialbank,trustcompanyorothernomineetendertheSharestoPurchaserbeforetheexpirationoftheOffer.

2. ForSharesthatareregisteredintheshareholder'snameandheldinbook-entryform:

• completeandsigntheLetterofTransmittal(orafacsimilethereof)inaccordancewiththeinstructionsintheLetterofTransmittalorprepareanAgent'sMessage(asdefinedinSection2—"AcceptanceforPaymentandPaymentforShares"ofthisOffertoPurchase);

• ifusingtheLetterofTransmittal,havetheshareholder'ssignatureontheLetterofTransmittalguaranteedifrequiredbyInstruction1oftheLetterofTransmittal;

• deliveranAgent'sMessageortheLetterofTransmittal(orafacsimilethereof),properlycompletedanddulyexecuted,andanyotherrequireddocumentstoWellsFargoBank,N.A.,thedepositaryfortheOffer(the"Depositary"),atitsaddressonthebackofthisOffertoPurchasebeforetheexpirationoftheOffer;and

• transfertheSharesthroughbook-entrytransferintotheaccountoftheDepositarybeforetheexpirationoftheOffer.

3. ForSharesthatareregisteredintheshareholder'snameandheldasphysicalcertificates:

• completeandsigntheLetterofTransmittal(orafacsimilethereof)inaccordancewiththeinstructionsintheLetterofTransmittal;

• havetheshareholder'ssignatureontheLetterofTransmittalguaranteedifrequiredbyInstruction1totheLetterofTransmittal;and

• delivertheLetterofTransmittal(orafacsimilethereof)properlycompletedanddulyexecuted,thecertificatesforsuchSharesandanyotherrequireddocumentstotheDepositary,atitsaddressonthebackofthisOffertoPurchasebeforetheexpirationoftheOffer.

The Letter of Transmittal, the certificates for the Shares and any other required documents must be received by the Depositary before the expiration ofthe Offer, unless the procedures for guaranteed delivery described in Section 3—"Procedures for Accepting the Offer and Tendering Shares" of this Offer toPurchase are followed. The method of delivery of Shares, the Letter of Transmittal and all other required documents, including delivery through theDepositary, is at the election and risk of the tendering shareholder.

*****

This Offer to Purchase and the related Letter of Transmittal contain important information and you should read both carefully and in their entiretybefore making a decision with respect to the Offer.

The Offer has not been approved or disapproved by the SEC or any state securities commission nor has the SEC or any state securities commissionpassed upon the fairness or merits of or upon the accuracy or adequacy of the information contained in this Offer to Purchase. Any representation to thecontrary is unlawful.

SUMMARYTERMSHEET 1

INTRODUCTION 12

THETENDEROFFER 17

1.TermsoftheOffer

17

2. AcceptanceforPaymentandPaymentforShares 193. ProceduresforAcceptingtheOfferandTenderingShares 204. WithdrawalRights 235. MaterialUnitedStatesFederalIncomeTaxConsequences 246. PriceRangeoftheShares;Dividends 277. PossibleEffectsoftheOfferontheMarketfortheShares;NASDAQListing;ExchangeActRegistration;Margin

Regulations 28

8. CertainInformationConcerningArcticCat 299. CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser 3010. BackgroundoftheOffer;PastContactsorNegotiationswithArcticCat 3111. PurposeoftheOffer;PlansforArcticCat;OtherMatters 3412. MergerAgreement;OtherAgreements 3813. SourceandAmountofFunds 6514. DividendsandDistributions 6515. ConditionsoftheOffer 6616. LegalMatters;RequiredRegulatoryApprovals 6717. FeesandExpenses 7018. Miscellaneous 70

SCHEDULEIINFORMATIONCONCERNINGTHEDIRECTORSANDEXECUTIVEOFFICERSOFTEXTRONINC.,TEXTRONSPECIALIZEDVEHICLESINC.ANDACESACQUISITIONCORP.

72

SUMMARY TERM SHEET

Aces Acquisition Corp., a Minnesota corporation (" Purchaser"), is a direct wholly owned subsidiary of Textron Specialized Vehicles Inc., a Delawarecorporation (" TextronSpecializedVehicles"), which is a direct wholly owned subsidiary of Textron Inc. (" Textron"), a Delaware corporation. Purchaser isoffering to purchase all outstanding shares of common stock, par value $0.01 per share (the " ArcticCatCommonStock" or the " Shares"), of Arctic Cat Inc.,a Minnesota corporation (" ArcticCat"), for $18.50 per Share (the " OfferPrice"), payable net to the holder thereof in cash, without interest, subject to anywithholding of taxes required by applicable law, upon the terms and subject to the conditions set forth in this Offer to Purchase (together with any amendmentsor supplements hereto, this " OffertoPurchase") and the related Letter of Transmittal (together with any amendments or supplements thereto, the " LetterofTransmittal" and, together with this Offer to Purchase, the " Offer"). The Offer is being made pursuant to the Agreement and Plan of Merger, dated as ofJanuary 24, 2017 (as it may be amended, restated or supplemented from time to time, the " MergerAgreement"), among Textron, Purchaser and Arctic Cat,which provides, among other things, that following the consummation of the Offer and the satisfaction or, to the extent permitted by applicable law, waiver ofeach of the applicable conditions set forth in the Merger Agreement, Purchaser and Arctic Cat will merge (the " Merger"), with Arctic Cat as the survivingcorporation in the Merger continuing as an indirect wholly owned subsidiary of Textron (the " SurvivingCompany"). The following are answers to somequestions that you, as a shareholder of Arctic Cat, may have about the Offer. WeurgeyoutocarefullyreadthisOffertoPurchaseandtheaccompanyingLetterofTransmittalintheirentiretybecausetheinformationinthisSummaryTermSheetisnotcompleteandadditionalimportantinformationiscontainedintheremainderofthisOffertoPurchaseandtheaccompanyingLetterofTransmittal. Unless the context indicates otherwise, in this Offer toPurchase we use the terms "us," "we" and "our" to refer to Purchaser and, where appropriate, Textron and Textron Specialized Vehicles. We use the term"Textron" to refer to Textron Inc. alone, the term "Purchaser" to refer to Aces Acquisition Corp. alone, the term "Textron Specialized Vehicles" to refer toTextron Specialized Vehicles Inc. alone, and the term "Arctic Cat" to refer to Arctic Cat Inc.

1

Securities Sought: Alloftheoutstandingsharesofcommonstock,parvalue$0.01pershare,ofArcticCat.

Offer Price Per Share:

$18.50payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.

Scheduled Expiration of the Offer:

5:00P.M.,NewYorkCitytime(the"ExpirationTime"),onMarch3,2017(the"ExpirationDate,"unlesstheOfferisextendedpursuanttoandinaccordancewiththetermsoftheMergerAgreement,inwhichevent"ExpirationDate"willmeanthelatesttimeanddateatwhichtheOffer,assoextended,willexpire).

Purchaser:

AcesAcquisitionCorp.,anindirectwhollyownedsubsidiaryofTextron.

Who is offering to buy my securities?

OurnameisAcesAcquisitionCorp.,aMinnesotacorporation,formedforthepurposeofmakingthisOffer.WeareanindirectwhollyownedsubsidiaryofTextron,aDelawarecorporation.Textronisamulti-industrycompanywith2016revenuesof$13.8billionthatleveragesitsglobalnetworkofaircraft,defense,industrialandfinancebusinessestoprovidecustomerswithinnovativeproductsandservicesaroundtheworld.Seethe"Introduction"andSection9—"CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser"ofthisOffertoPurchase.

TheOfferisthefirststepinourplantoacquirealloftheoutstandingShares,asprovidedintheMergerAgreement.If,aftercompletionoftheOffer,we,togetherwithTextron,ownatleastoneSharemorethan50%oftheFullyDilutedShares(asdefinedbelow),uponthetermsandsubjecttotheconditionsoftheMergerAgreement,weintendtoacquiretheremainderoftheoutstandingSharesintheMergerfor$18.50perShareincash.SeeSection11—"PurposeoftheOffer;PlansforArcticCat;OtherMatters"ofthisOffertoPurchase.

What are the classes and amounts of securities sought in the Offer?

WeareofferingtopurchasealloftheoutstandingSharesonthetermsandsubjecttotheconditionssetforthinthisOffertoPurchase.Seethe"Introduction"andSection1—"TermsoftheOffer"ofthisOffertoPurchase.

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Recommendation of the Arctic Cat Board of Directors: OnJanuary23,2017,eachoftheArcticCatBoardofDirectors(the"ArcticCatBoard")and,asrequiredbytheMinnesotaBusinessCorporationAct(the"MBCA"),acommitteeofdisinteresteddirectorsoftheArcticCatBoard,amongotherthings,(i)determinedthattheMergerAgreementandthetransactionscontemplatedtherebyareadvisable,fairtoandinthebestinterestsofArcticCatanditsshareholders,(ii)approvedandadoptedtheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMerger,and(iii)recommendedthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserintheOfferand,ifrequiredtoconsummatetheMerger,suchshareholdersapproveandadopttheMergerAgreementandtheMerger.Accordingly,andforotherreasonsdescribedinmoredetailinArcticCat'sTenderOfferSolicitation/RecommendationStatementonSchedule14D-9thatisbeingfiledwiththeUnitedStatesSecuritiesandExchangeCommission(the"SEC")and,togetherwiththisOffertoPurchase,theLetterofTransmittalandotherrelatedmaterials,mailedtotheshareholdersofArcticCatinconnectionwiththeOffer,theArcticCatBoardunanimouslyrecommendsthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserpursuanttotheOffer.

How much are you offering to pay? Will I have to pay any fees or commissions?

Weareofferingtopay$18.50perShare,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.IfyouareashareholderofArcticCatwhohasSharesregisteredinyournameandyoutenderdirectlytoWellsFargoBank,N.A.,thedepositaryfortheOffer(the"Depositary"),youwillnotbechargedbrokeragefeesorcommissions.IfyouholdyourSharesthroughabroker,dealer,commercialbank,trustcompanyorothernomineeandyourbroker,dealer,commercialbank,trustcompanyorothernomineetendersyourSharesonyourbehalf,yourbroker,dealer,commercialbank,trustcompanyorothernomineemaychargeyouafeeorcommissionfordoingso.Youshouldconsultyourbroker,dealer,commercialbank,trustcompanyorothernomineetodeterminewhetheranychargeswillapply.Seethe"Introduction"andSection1—"TermsoftheOffer"ofthisOffertoPurchase.

Why are you making the Offer?

WearemakingtheOfferbecausewewanttoacquireArcticCat.IftheOfferisconsummated,Textronintends,assoonaspracticableaftercompletionoftheOffer,tocauseustoconsummatetheMerger.UponconsummationoftheMerger,theSurvivingCompanywouldbeanindirectwhollyownedsubsidiaryofTextron.SeeSection1—"TermsoftheOffer"andSection11—"PurposeoftheOffer;PlansforArcticCat;OtherMatters"ofthisOffertoPurchase.

Is there an agreement governing the Offer?

Yes.Textron,PurchaserandArcticCathaveenteredintotheMergerAgreement.TheMergerAgreementprovides,amongotherthings,forthetermsandconditionsoftheOfferand,followingcompletionoftheOffer,theMerger.SeeSection12—"MergerAgreement;OtherAgreements"andSection15—"ConditionsoftheOffer"ofthisOffertoPurchase.

Do you have the financial resources to make payment?

Yes.Textron,ourindirectparentcompany,willprovideuswithsufficientfundstopurchaseallSharesvalidlytenderedintheOfferandtoprovidefundingforouracquisitionoftheremainingSharesintheMerger,whichisexpectedtofollowthesuccessfulcompletionoftheOfferinaccordancewiththetermsandconditionsoftheMergerAgreement.Textronintendstoobtainsuchfundsfromitscashonhand.TheOfferisnotconditioneduponTextronorusobtainingfinancing.SeeSection13—"SourceandAmountofFunds"ofthisOffertoPurchase.

Is your financial condition relevant to my decision to tender my Shares in the Offer?

No.WedonotthinkourfinancialconditionisrelevanttoyourdecisionwhethertotenderyourSharesandaccepttheOfferbecause:

• theOfferisbeingmadeforalloutstandingSharessolelyforcash;

• TextronwillprovideuswithsufficientfundsandfinancialresourcesavailabletopurchaseallSharesvalidlytenderedintheOfferoracquiredintheMerger;

• theOfferisnotsubjecttoanyfinancingcondition;and

• ifweconsummatetheOffer,wewillacquireanyremainingSharesforthesamecashpriceintheMerger.

SeeSection13—"SourceandAmountofFunds"ofthisOffertoPurchase.

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Do I have to vote to approve the Offer or the Merger?

YourvoteisnotrequiredtoapprovetheOffer.YousimplyneedtotenderyourSharesifyouchoosetodoso.However,theOffercanbecompletedonlyif,amongotherthings,theMinimumCondition(asdefinedbelow)issatisfied.

TheArcticCatBoardhasapprovedandadoptedtheMergerAgreement.ArcticCatshareholderswillberequiredtoapproveandadopttheMergerAgreementandtheMergeronlyifweandTextrondonotacquire,intheaggregate,atleast90%oftheoutstandingSharesintheOffer,andanysubsequentexerciseoftheTopUpOption(asdefinedbelow)orotherwise,inwhichcasewewouldnotbeabletoconsummatetheMergerasa"short-form"mergerpursuanttoSection302A.621oftheMBCAwithouttheapprovalofArcticCatshareholders.BecausesatisfactionoftheMinimumConditionisrequiredtocompletetheOfferandapprovaloftheMergerrequirestheaffirmativevoteofholdersofamajorityoftheoutstandingShares,uponcompletionoftheOffer,wewillownasufficientnumberofSharestoensurethattheMergerwillbeapprovedbytheshareholdersofArcticCat.

AnysolicitationofproxiesorconsentsfromArcticCatshareholderstoadopttheMergerAgreement,ifnecessary,willbemadepursuanttoseparatematerialscomplyingwiththerulesandregulationsoftheSEC.

How long do I have to decide whether to tender my Shares in the Offer?

YouwillhaveatleastuntiltheexpirationoftheOffertotenderyourSharesintheOffer.ThecurrentexpirationoftheOfferis5:00P.M.,NewYorkCitytime,onMarch3,2017,unlessweextendtheperiodoftimeforwhichtheinitialofferingperiodoftheOfferisopenpursuanttothetermsoftheMergerAgreement.Ifyoucannotdelivereverythingrequiredtomakeavalidtenderbythattime,youmaystillparticipateintheOfferbyusingtheguaranteeddeliveryprocedurethatisdescribedlaterinthisOffertoPurchasepriortothattime.IfyouownyourSharesthroughtheArcticCatInc.RetirementSavingsPlan(the"ArcticCat401(k)Plan"),youwillhavetocompletetheTenderOfferInstructionFormtoinstructtheArcticCat401(k)PlanTrusteetotenderyourSharesatleastthree(3)businessdayspriortotheExpirationDate.SeeSection1—"TermsoftheOffer"andSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase.

Can the Offer be extended and under what circumstances?

Yes.WehaveagreedintheMergerAgreementthat:

• UnlesstheOfferisterminatedinaccordancewiththeMergerAgreement,wemay,inoursolediscretion,extendtheOfferforsuccessiveperiodsofuptotwenty(20)businessdayseachif,atthethenscheduledexpirationoftheOffer,anyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasearenotsatisfiedor,wherepermittedbyapplicablelaw,waivedbyusorTextroninordertopermitthesatisfactionofsuchconditions.

• UnlesstheOfferisterminatedinaccordancewiththeMergerAgreement,intheeventthatanyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasearenotsatisfiedor,totheextentpermittedbyapplicablelaw,waivedbyusorTextronasofanythenscheduledexpirationoftheOfferandtheArcticCatBoardhasnoteffectedanAdverseRecommendationChange(asdefinedinSection12(a)—"MergerAgreement"ofthisOffertoPurchase),ArcticCatmay,initssolediscretionandbywrittennoticeatleasttwo(2)businessdayspriortothethenscheduledexpirationoftheOffer,requestthatweextendtheOfferforoneperiodoften(10)businessdays,untilalloftheconditionstotheOffersetforthintheMergerAgreementanddescribedin

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Section15—"ConditionsoftheOffer"ofthisOffertoPurchasearesatisfiedor,wherepermittedbyapplicablelaw,waivedbyusorTextron.

• WewillalsoextendtheOfferforanyperiodrequiredbyapplicablelaworapplicablerule,regulation,interpretationorpositionoftheSECoritsstafforanyoftherulesandregulations,includinglistingstandards,ofNASDAQoranyotherUnitedStatesnationalsecuritiesexchangeregisteredundertheSecuritiesExchangeActof1934,asamended(the"ExchangeAct"),onwhichtheSharesarethentraded.

InnoeventwillweberequiredtoextendtheOfferforanyreasonbeyondtheearliertooccurof(a)thedatetheMergerAgreementisterminatedor(b)May24,2017.

FollowingouracceptanceandpaymentforSharestenderedintheOffer,wewill,ifnecessary,inordertoenableus,togetherwithTextron,toacquireatleast90%oftheSharesthenoutstanding,takingintoaccounttheexerciseoftheTopUpOption,provideforone"subsequentofferingperiod"(asprovidedinRule14d-11undertheExchangeAct)ofnotlessthanthree(3)normorethantwenty(20)businessdays(the"SubsequentOfferingPeriod")asdeterminedinourorTextron'ssolediscretion.DuringsuchSubsequentOfferingPeriodallSharesthatarevalidlytenderedpursuanttotheOfferwillbeimmediatelyacceptedforpaymentbyus,andwewillimmediatelypayforsuchSharesattheOfferPrice.

SeeSection1—"TermsoftheOffer"ofthisOffertoPurchaseformoredetailsonourobligationandabilitytoextendtheOffer.

What is the difference between an extension of the Offer and the Subsequent Offering Period?

Exceptasdescribedinthenextsentence,iftheOfferisextended,noShareswillbeacceptedorpaidforuntilfollowingtheExpirationDate(assoextended),andyouwillbeabletowithdrawyourSharesuntiltheExpirationDate.

TheSubsequentOfferingPeriod,ifitisprovided,wouldoccuraftertheAcceptanceTime(asdefinedbelow)andafterwehavebecomeobligatedtopayforallSharesthatwerevalidlytenderedandnotproperlywithdrawnpriortotheExpirationDate.SharesthatarevalidlytenderedduringtheSubsequentOfferingPeriodwillbeimmediatelyacceptedforpaymentbyus,wewillimmediatelypayforsuchSharesattheOfferPriceandsuchSharescannotbewithdrawn.SeeSection1—"TermsoftheOffer"andSection4—"WithdrawalRights"ofthisOffertoPurchase.

How will I be notified if the Offer is extended?

IfweextendtheOffer,wewillinformtheDepositaryofanyextensionandwillissueapressreleaseannouncingtheextensionnotlaterthan9:00A.M.,NewYorkCitytime,onthenextbusinessdayafterthedayonwhichtheOfferwaspreviouslyscheduledtoexpire.SeeSection1—"TermsoftheOffer"ofthisOffertoPurchase.

IftheSubsequentOfferingPeriodisnecessary,apublicannouncementofsuchperiodwillbemadenotlaterthan9:00A.M.,NewYorkCitytime,onthenextbusinessdayfollowingthepreviouslyscheduledExpirationDateoftheOffer.

What is the "Minimum Condition" to the Offer?

WearenotobligatedtoacceptforpaymentorpayforanySharesintheOfferunlessthenumberofSharesvalidlytenderedandnotproperlywithdrawnpriortotheexpirationoftheOfferwhich,togetherwiththenumberofShares(ifany)thenbeneficiallyownedbyTextronorus,intheaggregate,orwithrespecttowhichTextronorweotherwisehave,directlyorindirectly,solevotingpower,representsatleastoneSharemorethan50%oftheFullyDilutedShares(collectively,the"Minimum

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Condition").PursuanttotheMergerAgreement,thesatisfactionoftheMinimumConditionwillbedeterminedwithouttreatingasvalidlytenderedSharestenderedviaguaranteeddeliveryproceduresunlesstheDepositaryhasreceivedallrequireditemsonaccountofsuchSharesinsettlementorsatisfactionofanysuchguaranteeatorpriortotheexpirationoftheOffer.

"FullyDilutedShares"meansalloutstandingsecuritiesentitledtovoteintheelectionofdirectorsofArcticCatorontheadoptionoftheMergerAgreementandapprovaloftheMerger,togetherwithallsuchsecuritieswhichArcticCatwouldberequiredorpermittedtoissueassumingtheconversionorexchangeofanythen-outstandingwarrants,options,securitiesorinstrumentsconvertibleorexchangeableinto,orrightsexercisablefor,suchsecurities,whetherornotthenconvertible,exchangeableorexercisable.

What are the conditions to the Offer other than the Minimum Condition?

InadditiontotheMinimumCondition,wearenotobligatedtoacceptforpaymentorpayforanyvalidlytenderedShares(subjecttoapplicablerulesandregulationsoftheSEC)andmaydelaytheacceptanceforpaymentoforthepaymentforanyvalidlytenderedShares(subjecttoapplicablerulesandregulationsoftheSEC),unless:

(i) (a)thewaitingperiodapplicabletotheconsummationoftheOfferundertheHart-Scott-RodinoAntitrustImprovementsActof1976,andtherulesandregulationspromulgatedthereunder(the"HSRAct")hasexpiredorbeenterminatedatorpriortotheExpirationDateand(b)anyconsent,approval,orotherauthorizationapplicabletotheconsummationoftheOfferundertheantitrustlawsofGermanyhasbeenreceivedorgranted(collectively,the"RegulatoryApprovalCondition");and

(ii) atanytimeonorafterthedateoftheMergerAgreementandpriortotheExpirationDate,noneofthefollowinghasoccurredandiscontinuingattheExpirationDate:

(a) anygovernmentalauthorityofcompetentjurisdictionhasenacted,issued,promulgated,enforcedorenteredanydecision,injunction,decree,ruling,lawororder(whethertemporary,preliminaryorpermanent)thatisineffectandenjoinsorotherwiseprohibitsormakesillegaltheconsummationofthetransactionscontemplatedbytheMergerAgreementonthetermscontemplatedbytheMergerAgreement(providedthatweandTextronhaveusedourreasonablebesteffortstoopposeanysuchactionbysuchgovernmentalauthority)(the"GovernmentalAuthorityCondition");

(b) therepresentationsandwarrantiesmadebyArcticCatintheMergerAgreement,subjecttothematerialityandotherqualificationssetforthintheMergerAgreement,includingcertainoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchase,areinaccurate(the"RepresentationsCondition");

(c) ArcticCathasbreachedorfailedtoperformorcomply,inanymaterialrespect,withanyagreementorcovenanttobeperformedorcompliedwithbyitundertheMergerAgreementandanysuchbreachorfailureshallnothavebeencuredpriortotheExpirationDate(the"CovenantsCondition");

(d) sincethedateoftheMergerAgreement,therehasoccurredaCompanyMaterialAdverseEffect(asdefinedinSection12(a)—"MergerAgreement"ofthisOffertoPurchase)(the"MaterialAdverseEffectCondition");

(e) ArcticCatshallnothavefurnishedTextronanduswithacertificate,datedasoftheExpirationDate,executedbytheChiefExecutiveOfficerorPresidentofArcticCat,to

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theeffectthattheRepresentationsCondition,theCovenantsConditionandtheMaterialAdverseEffectConditionhavebeensatisfied;and

(f) theMergerAgreementhasbeenterminatedinaccordancewithitsterms.

SeeSection15—"ConditionsoftheOffer"ofthisOffertoPurchaseforacompletedescriptionoftheconditionstotheOffer.

How do I tender my Shares?

IfyourSharesareregisteredinthenameofabroker,dealer,commercialbank,trustcompanyorothernominee,contactthebroker,dealer,commercialbank,trustcompanyorothernomineeandrequestthatthebroker,dealer,commercialbank,trustcompanyorothernomineetenderyourSharestousonyourbehalfbeforetheExpirationDate.

IfyourSharesareregisteredinyournameandheldinbook-entryform(i.e.,nostockcertificateshavebeenissuedtoyou):

• completeandsigntheLetterofTransmittal(orafacsimilethereof)inaccordancewiththeinstructionsintheLetterofTransmittalorprepareanAgent'sMessage(asdefinedinSection2—"AcceptanceforPaymentandPaymentforShares"ofthisOffertoPurchase);

• ifusingtheLetterofTransmittal,haveyoursignatureontheLetterofTransmittalguaranteedifrequiredbyInstruction1oftheLetterofTransmittal;

• deliveranAgent'sMessageortheLetterofTransmittal(orafacsimilethereof),properlycompletedanddulyexecuted,andanyotherrequireddocumentstotheDepositary,atitsaddressonthebackofthisOffertoPurchasebeforetheexpirationoftheOffer;and

• transfertheSharesthroughbook-entrytransferintotheaccountoftheDepositarybeforetheexpirationoftheOffer.

IfyourSharesareregisteredinyournameandheldasphysicalcertificates(i.e.,stockcertificateshavebeenissuedtoyou):

• completeandsigntheLetterofTransmittal(orafacsimilethereof)inaccordancewiththeinstructionsintheLetterofTransmittal;

• haveyoursignatureontheLetterofTransmittalguaranteedifrequiredbyInstruction1totheLetterofTransmittal;and

• delivertheLetterofTransmittal(orafacsimilethereof)properlycompletedanddulyexecuted,thecertificatesforsuchSharesandanyotherrequireddocumentstotheDepositary,atitsaddressonthebackofthisOffertoPurchase,beforetheexpirationoftheOffer.

IfyouarearecordholderbutyourstockcertificateisnotavailableoryoucannotdeliveryourstockcertificatetotheDepositarybeforetheExpirationDate,youmaybeabletotenderyourSharesusingtheenclosedNoticeofGuaranteedDelivery(asitmaybeamendedorsupplemented,the"NoticeofGuaranteedDelivery").PleasecalltheInformationAgent,AllianceAdvisorsLLC,at(973)873-7780(CallCollect)or(888)991-1293(CallToll-Free).

IfyouholdyourSharesthroughtheArcticCat401(k)Plan,youmustcompleteandsigntheenclosedTenderOfferInstructionForm.TheTenderOfferInstructionForminstructstheArcticCat401(k)PlanTrusteetotenderyourSharesintheOffer.TheTenderOfferInstructionFormmustbedeliveredtoWellsFargoBank,N.A.sufficientlyinadvanceoftheExpirationDate(andinanyeventnotlaterthanthree(3)businessdayspriortotheExpirationDate)toenableWellsFargoBank,N.A.andtheArcticCat401(k)PlanTrusteetocomplywiththeinstructionscontainedtherein.DetailedinstructionsarecontainedintheTenderOfferInstructionFormandinSection3—"Procedurefor

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AcceptingtheOfferandTenderingShares"ofthisOffertoPurchase.PurchaserassumesnoresponsibilityfortheactionsoftheArcticCat401(k)PlanTrustee.

SeeSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchaseformoredetails.

Until what time may I withdraw previously tendered Shares?

YoumaywithdrawSharesthatyouhavepreviouslytenderedintheOfferatanytimeuntiltheOfferhasexpired.Inaddition,unlessweacceptedyourSharesforpaymentasprovidedinthisOffertoPurchase,youmayalsowithdrawsuchSharesatanytimeafterApril27,2017.IfyoutenderedSharesundertheArcticCat401(k)Plan,tomakeaneffectivewithdrawal,youmustprovidesufficientnoticeinadvanceoftheExpirationDate(andinanyeventnotlaterthanthree(3)businessdayspriortotheExpirationDate)toenableWellsFargoBank,N.A.andtheArcticCat401(k)PlanTrusteetocomplywiththeinstructionscontainedinyourTenderOfferInstructionForm.NowithdrawalrightsapplytoSharestenderedintheSubsequentOfferingPeriodandnowithdrawalrightsapplyduringtheSubsequentOfferingPeriodwithrespecttoSharestenderedintheOfferandacceptedforpayment.SeeSection4—"WithdrawalRights"ofthisOffertoPurchase.

How do I withdraw previously tendered Shares?

If,aftertenderingyourSharesintheOffer,youdecidethatyoudonotwanttoaccepttheOffer,youcanwithdrawyourSharesbydeliveringawrittennoticeofwithdrawalwiththerequiredinformationtotheDepositarybeforetheExpirationDate.IfyoutenderedyourSharesbygivinginstructionstoabroker,dealer,commercialbank,trustcompanyorothernominee,youmustinstructthebroker,dealer,commercialbank,trustcompanyorothernomineetoarrangeforthewithdrawalofyourShares,andsuchbroker,dealer,commercialbank,trustcompanyorothernomineemusteffectivelywithdrawsuchShareswhileyoustillhavetherighttowithdrawShares.IfyoutenderedSharesundertheArcticCat401(k)Plan,tomakeaneffectivewithdrawal,youmustdeliverupdatedinstructionstoWellsFargoBank,N.A.,asexplainedintheTenderOfferInstructionForm.SeeSection4—"WithdrawalRights"ofthisOffertoPurchase.

Have any shareholders previously agreed to tender their Shares?

No.WehavenotpreviouslyenteredintoanyagreementswithanyshareholdersofArcticCatwithrespecttothetenderofSharesintotheOffer.

How long will it take to complete the proposed transaction?

ThetimingofcompletingtheOfferandtheMergerwilldependonavarietyoffactors.WeannouncedtheOffertofacilitatetheacquisitionofArcticCataspromptlyaspracticable.IftheconditionstotheOfferaresatisfied,weexpectthattheOfferwillbeconsummatedpromptlyfollowingtheExpirationDate.InaccordancewiththeMergerAgreement,theMergerisexpectedtotakeplaceonthethirdbusinessdayafterthesatisfactionor,totheextentpermittedbyapplicablelaw,waiverofcertainconditionstotheMergersetforthintheMergerAgreement(includingtheconsummationoftheOffer),asdescribedinSection12—"MergerAgreement;OtherAgreements"ofthisOffertoPurchase.IfwereceivetendersintheOfferofatleast90%oftheoutstandingShares,orsufficienttenderstoenableustoexercisetheTopUpOption,weanticipatethattheMergerwouldbecompletedshortlyfollowingcompletionoftheOffer.

Will the Offer be followed by a merger?

Yes,unlesstheconditionstotheMergerarenotsatisfiedor,totheextentpermittedbyapplicablelaw,waived.IfweacceptforpaymentandpayforallSharesvalidlytenderedandnotproperly

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withdrawnpursuanttotheOffer,andtheotherconditionstotheMergeraresatisfiedor,totheextentpermittedbyapplicablelaw,waived,wewillmergewithandintoArcticCat.IftheMergertakesplace,TextronoritssubsidiarieswillownalloftheShares,andalloftheremainingshareholdersofArcticCat,otherthananydissentingshareholdersofArcticCatthatproperlyexercisedissenters'rights,willhavetherighttoreceive$18.50pershareofArcticCatcommonstock(the"MergerConsideration"),withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.See"Introduction"tothisOffertoPurchase.SeealsoSection12—"MergerAgreement;OtherAgreements"andSection15—"ConditionsoftheOffer"ofthisOffertoPurchaseforadescriptionoftheconditionstotheMergerandtheOffer.

If the Merger occurs, will Arctic Cat continue as a public company?

No.FollowingthecompletionoftheOffer,we,TextronandArcticCatexpecttoconsummatetheMergeraspromptlyaspracticablethereafter.IftheMergertakesplace,noShareswillremainpubliclyowned,andArcticCatwillbeanindirectwhollyownedsubsidiaryofTextron.

If I decide not to tender, how will the Merger affect my Shares?

IfyoudecidenottotenderyourSharesintheOfferandtheMergeroccurs,youwillsubsequentlyreceivetheMergerConsideration,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,whichisthesameamountofcashperSharethatyouwouldhavereceivedhadyoutenderedyourSharesintheOffer.Therefore,iftheMergertakesplace,andyoudonotvalidlyexerciseyourdissenters'rightsunderSection302A.471(c)oftheMBCA,theonlydifferencetoyoubetweentenderingyourSharesandnottenderingyourSharesisthatyouwillbepaidearlierifyoutenderyourShares.Ifyoudovalidlyexerciseyourdissenters'rights,thenyoumayreceivethejudiciallydeterminedfairvalueofyourSharesincash.SeeSection11—"PurposeoftheOffer;PlansforArcticCat;OtherMatters—Dissenters'Rights"ofthisOffertoPurchase.IfyoudecidenottotenderyourSharesintheOfferandwepurchasethetenderedShares,buttheMergerdoesnotoccur,youwillremainanArcticCatshareholder.However,theremaybesofewremainingshareholdersandpubliclytradedSharesthattheremaynotbeanactivepublictradingmarketfortheArcticCatCommonStock.Also,ArcticCatmayceasetoberequiredtomakefilingswiththeSECorotherwisecomplywiththeSECrulesrelatingtopubliclyheldcompanies.See"Introduction"andSection7—"PossibleEffectsoftheOfferontheMarketfortheShares;NASDAQListing;ExchangeActRegistration;MarginRegulations"ofthisOffertoPurchase.

What is the market value of my Shares as of a recent date?

TheclosingpricefortheSharesreportedontheNASDAQwas$13.09perShareonJanuary24,2017,thelastfulldayoftradingpriortotheannouncementoftheexecutionoftheMergerAgreement,and$18.80pershareonJanuary31,2017,thelatestpracticablefulltradingdaypriortothecommencementoftheOffer.Before deciding whether to tender, you should obtain a current market quotation for the Shares.

If I accept the Offer, when and how will I get paid?

IftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasearesatisfiedor,totheextentpermittedbyapplicablelaw,waivedandweconsummatetheOfferandacceptyourSharesforpayment,wewillpayyou,promptlyfollowingtheExpirationDate,anamountequaltothenumberofSharesyoutenderedmultipliedby$18.50,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.SeeSection1—"TermsoftheOffer"andSection2—"AcceptanceforPaymentandPaymentforShares"ofthisOffertoPurchase.

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What is the Top Up Option and when could it be exercised?

Ifwe,togetherwithTextron,intheaggregate,acquirelessthan90%oftheoutstandingSharesintheOffer,wehavetheoptioninspecifiedcircumstancestopurchasefromArcticCatadditionalSharessufficienttocauseustoown,intheaggregate,oneSharemorethan90%oftheFullyDilutedShares(the"TopUpOption").ThepurposeoftheTopUpOptionistopermitustoconsummatetheMergerasa"short-form"mergerpursuanttoSection302A.621oftheMBCAandwithoutconveningameetingoftheshareholdersofArcticCat.WeexpecttoexercisetheTopUpOption,subjecttothelimitationssetforthintheMergerAgreement,ifweacquiremorethanapproximately66.5%butlessthan90%oftheoutstandingSharesintheOffer.SeeSection11—"PurposeoftheOffer;PlansforArcticCat;OtherMatters"andSection12—"MergerAgreement;OtherAgreements"ofthisOffertoPurchase.

How will my outstanding options, stock appreciation rights and RSUs be treated in the Offer and the Merger?

ThisOfferisbeingmadeforalloutstandingShares,butnotforanyoutstanding,unexercisedoptiontopurchaseShares("ArcticCatOption"),anyoutstandingstockappreciationrightrepresentingtherighttoreceiveapaymentincash("ArcticCatStockAppreciationRight")oranyoutstandingrestrictedstockunitwithrespecttoShares("ArcticCatRSU")(collectively,"ArcticCatEquityAwards").NoArcticCatOptions,ArcticCatStockAppreciationRightsorArcticCatRSUsmaybetenderedintheOffer.IfyouwishtotenderSharessubjecttoArcticCatOptions,ArcticCatStockAppreciationRightsorArcticCatRSUs,youmustfirstexercisethem(totheextentexercisable)inaccordancewiththeirtermsinsufficienttimetotendertheSharesreceivedintheOffer.

PursuanttothetermsoftheMergerAgreementandsubjecttotheconditionstherein:

• eachArcticCatEquityAwardthatisoutstandingandunvestedasoftheeffectivetimeoftheMerger,whichisthedateandtimeofthefilingofthearticlesofmergerwiththeSecretaryofStateofMinnesota,orsuchlatertimeasisspecifiedinthearticlesofmergerandisagreedtobyTextronandArcticCatinwriting(the"EffectiveTime"),willbecomefullyvestedandexercisableimmediatelypriortotheEffectiveTime;

• eachArcticCatOptionthatisoutstandingandunexercisedasoftheEffectiveTimeandhasanexercisepriceperSharethatislessthantheMergerConsideration,willbecanceledeffectiveasoftheEffectiveTimeandconvertedintotherighttoreceiveanamount,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,equaltotheproductof(i)theamountbywhichtheMergerConsiderationexceedstheapplicableexercisepriceperShareofsuchArcticCatOption,and(ii)theaggregatenumberofSharesissuableuponexerciseofsuchArcticCatOption;

• eachArcticCatStockAppreciationRightthatisoutstandingandunexercisedasoftheEffectiveTimeandhasanexercisepriceperSharethatislessthantheMergerConsiderationwillbecanceledeffectiveasoftheEffectiveTimeandconvertedintotherighttoreceiveanamount,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,equaltotheproductof(i)theamountbywhichtheMergerConsiderationexceedstheapplicableexercisepriceperShareofsuchArcticCatStockAppreciationRight,and(ii)theaggregatenumberofSharessubjecttosuchArcticCatStockAppreciationRight;and

• eachArcticCatRSUthatisoutstandingasoftheEffectiveTimewillbecanceledeffectiveasoftheEffectiveTimeandconvertedintotherighttoreceiveanamount,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,equaltotheproductof(i)theMergerConsiderationand(ii)theaggregatenumberofSharessubjecttosuchArcticCatRSUaward.

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EachArcticCatOptionthatisoutstandingandunexercisedasoftheEffectiveTimeandhasanexercisepriceperSharethatisgreaterthantheMergerConsiderationwillbecanceledeffectiveasoftheEffectiveTimewithoutthepaymentofanyconsideration.EachArcticCatStockAppreciationRightthatisoutstandingandunexercisedasoftheEffectiveTimeandhasanexercisepriceperSharethatisgreaterthantheMergerConsiderationwillbecanceledeffectiveasoftheEffectiveTimewithoutthepaymentofconsideration.

SeeSection12—"MergerAgreement;OtherAgreements"ofthisOffertoPurchase.

What are the material United States federal income tax consequences of tendering my Shares?

ThereceiptofcashforSharespursuanttotheOfferortheMergerwillbeataxabletransactionforUnitedStatesfederalincometaxpurposes.Ingeneral,aU.S.holder(asdefinedinSection5—"MaterialUnitedStatesFederalIncomeTaxConsequences"ofthisOffertoPurchase)thatsellsSharespursuanttotheOfferorreceivescashinexchangeforSharespursuanttotheMergerwillrecognizegainorlossforUnitedStatesfederalincometaxpurposesequaltothedifference,ifany,betweentheamountofcashreceivedandsuchshareholder'staxbasisintheSharessoldorexchanged.Ingeneral,anon-U.S.holder(asdefinedinSection5—"MaterialUnitedStatesFederalIncomeTaxConsequences"ofthisOffertoPurchase)thatsellsSharespursuanttotheOfferorreceivescashinexchangeforSharespursuanttotheMergerwillnotbesubjecttoUnitedStatesfederalincometaxinrespectofsuchsaleofSharesorreceiptofcash,unlesssuchholderhascertainconnectionstotheUnitedStates.AsummaryofthematerialUnitedStatesfederalincometaxconsequencesoftheOfferandtheMergerisincludedinSection5—"MaterialUnitedStatesFederalIncomeTaxConsequences"ofthisOffertoPurchase.

You should consult your tax advisor about the tax consequences to you (including the application and effect of any state, local or foreign incomeand other tax laws) of participating in the Offer and the Merger in light of your particular circumstances. SeeSection5—"MaterialUnitedStatesFederalIncomeTaxConsequences"ofthisOffertoPurchase.

Will I have the right to have my Shares appraised?

Dissenters'rightsarenotavailableinconnectionwiththeOffer,andshareholdersofArcticCatwhotenderSharesintheOfferwillnothavedissenters'rightsinconnectionwiththeMerger.IftheMergerisconsummated,dissenters'rightswillbeavailabletoholdersofSharesatthetimeoftheMergerwhohavenottenderedtheirSharesintheOffer,demanddissenters'rightsfortheirSharesandotherwisecomplywiththeapplicablelegalrequirementsundertheMBCA.

TheforegoingsummaryoftherightsofdissentingshareholdersundertheMBCAdoesnotpurporttobeacompletestatementoftheprocedurestobefollowedbyshareholdersofArcticCatdesiringtoexerciseanyavailabledissenters'rightsundertheMBCAandisqualifiedinitsentiretybyreferencetotheMBCA.SeeSection11—"PurposeoftheOffer;PlansforArcticCat;OtherMatters"ofthisOffertoPurchase.

Who should I call if I have questions about the Offer? Where do I get additional copies of the Offer documents?

YoumaycallAllianceAdvisorsLLCat(973)873-7780(callcollect)ortoll-freeat(888)991-1293.AllianceAdvisorsLLCisactingastheInformationAgentfortheOffer.SeethebackcoverofthisOffertoPurchase.

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To All Holders of Shares of Common Stock of Arctic Cat Inc.:

INTRODUCTION

AcesAcquisitionCorp.,aMinnesotacorporation("Purchaser"),isofferingtopurchasealloftheoutstandingsharesofcommonstock,parvalue$0.01pershare(the"ArcticCatCommonStock"orthe"Shares")ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),atapriceof$18.50perShare(the"OfferPrice"),payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthinthisoffertopurchase(asitmaybeamendedorsupplementedfromtimetotime,this"OffertoPurchase"),andintherelatedLetterofTransmittal(asitmaybeamendedorsupplementedfromtimetotime,the"LetterofTransmittal,"andtogetherwiththisOffertoPurchase,the"Offer").PurchaserisadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation,("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron").Textronisamulti-industrycompanywith2016revenuesof$13.8billionthatleveragesitsglobalnetworkofaircraft,defense,industrialandfinancebusinessestoprovidecustomerswithinnovativeproductsandservicesaroundtheworld.

TheOfferisbeingmadepursuanttotheAgreementandPlanofMerger,datedasofJanuary24,2017(asitmaybeamended,restatedorsupplementedfromtimetotime,the"MergerAgreement"),amongTextron,PurchaserandArcticCat.UndertheMergerAgreement,followingthecompletionoftheOffer,uponthetermsandsubjecttotheconditionssetforthintheMergerAgreement,andinaccordancewiththeMinnesotaBusinessCorporationAct(the"MBCA"),PurchaserwillmergewithandintoArcticCat(the"Merger"),withArcticCatcontinuingasthesurvivingcorporationandanindirectwhollyownedsubsidiaryofTextron(the"SurvivingCompany").WhentheMergeriscompleted,eachSharethenoutstanding(otherthanSharesownedby(a)TextronorPurchaseroranyothersubsidiaryofTextronor(b)anyshareholderofArcticCatwhoisentitledtoandproperlydemandsandexercisesdissenters'rightswithrespecttosuchSharespursuantto,andcompliesinallrespectswith,theapplicableprovisionsofMinnesotalaw)willbeconvertedintotherighttoreceive$18.50,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.TheMergerAgreementisdescribedindetailinSection12(a)—"MergerAgreement"ofthisOffertoPurchase.

On January 23, 2017, each of the Arctic Cat Board of Directors (the " ArcticCatBoard") and, as required by the MBCA, a committee of disinteresteddirectors of the Arctic Cat Board (the " ArcticCatCommitteeofDisinterestedDirectors"), among other things, (i) determined that the Merger Agreementand the transactions contemplated thereby are advisable, fair to and in the best interests of Arctic Cat and its shareholders, (ii) approved and adopted theMerger Agreement and the transactions contemplated thereby, including the Offer and the Merger and (iii) recommended that Arctic Cat's shareholdersaccept the Offer and tender their Shares to Purchaser in the Offer and, if required to consummate the Merger, such shareholders approve and adopt theMerger Agreement and the Merger. Accordingly, and for other reasons described in more detail in Arctic Cat's Tender Offer Solicitation/RecommendationStatement on Schedule 14D-9 that is being filed with the United States Securities and Exchange Commission (the " SEC") and, together with this Offer toPurchase, the Letter of Transmittal and other related materials, mailed to the shareholders of Arctic Cat in connection with the Offer, the Arctic Cat Boardunanimously recommends that Arctic Cat's shareholders accept the Offer and tender their Shares to Purchaser pursuant to the Offer.

AmorecompletedescriptionoftheArcticCatBoard'sreasonsforauthorizingandapprovingtheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMerger,issetforthintheSchedule14D-9thatisbeingfiledwiththeSECand,togetherwiththisOffertoPurchase,theLetterofTransmittalandotherrelatedmaterials,mailedtotheshareholdersofArctic

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CatinconnectionwiththeOffer.ShareholdersshouldcarefullyreadtheinformationsetforthintheSchedule14D-9initsentirety.

TenderingshareholdersofArcticCatwhohaveSharesregisteredintheirnamesandwhotenderdirectlytoWellsFargoBank,N.A.,thedepositaryfortheOffer(the"Depositary"),willnotbechargedbrokeragefeesorcommissionsor,subjecttoInstruction6oftheLetterofTransmittal,transfertaxesonthepurchaseofSharespursuanttotheOffer.ShareholderswhoholdtheirSharesthroughabroker,dealer,commercialbank,trustcompanyorothernomineeshouldconsultwithsuchinstitutionastowhetheritchargesanyservicefeesorcommissions.However,ifaregisteredshareholderofArcticCatdoesnotcompleteandsigntheFormW-9thatisincludedintheLetterofTransmittalorotherwiseestablishesanexemption,heorshemaybesubjecttoarequiredbackupUnitedStatesfederalincometaxwithholding(currentlyatarateof28%)ofthegrossproceedspayabletosuchshareholder.SeeSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase.TextronwillpayallchargesandexpensesoftheDepositaryandAllianceAdvisorsLLC,theInformationAgent,incurredinconnectionwiththeOffer.SeeSection17—"FeesandExpenses"ofthisOffertoPurchase.

ThereisnofinancingconditiontotheOffer.TheOfferisconditionedupon,amongotherthings,(a)theabsenceofaterminationoftheMergerAgreementinaccordancewithitstermsand(b)thesatisfactionof(i)theMinimumCondition,(ii)theRegulatoryApprovalCondition,(iii)theGovernmentalAuthorityCondition,(iv)theRepresentationsCondition,(v)theCovenantsConditionand(vi)theMaterialAdverseEffectCondition,eachasdefinedbelow.The"MinimumCondition"requiresthatthenumberofSharesvalidlytenderedandnotproperlywithdrawnpriortotheexpirationoftheOfferwhich,togetherwiththenumberofShares(ifany)thenbeneficiallyownedbyTextronorPurchaser,intheaggregate,orwithrespecttowhichTextronorPurchaserotherwisehas,directlyorindirectly,solevotingpower,representsatleastoneSharemorethan50%oftheFullyDilutedShares.PursuanttotheMergerAgreement,thesatisfactionoftheMinimumConditionwillbedeterminedwithouttreatingasvalidlytenderedSharestenderedviaguaranteeddeliveryproceduresunlesstheDepositaryhasreceivedallrequireditemsonaccountofsuchSharesinsettlementorsatisfactionofanysuchguaranteeatorpriortotheexpirationoftheOffer.

"FullyDilutedShares"meansalloutstandingsecuritiesentitledtovoteintheelectionofdirectorsofArcticCatorontheadoptionoftheMergerAgreementandapprovaloftheMerger,togetherwithallsuchsecuritieswhichArcticCatwouldberequiredorpermittedtoissueassumingtheconversionorexchangeofanythen-outstandingwarrants,options,securitiesorinstrumentsconvertibleorexchangeableinto,orrightsexercisablefor,suchsecurities,whetherornotthenconvertible,exchangeableorexercisable.

The"RegulatoryApprovalCondition"requiresthat(a)thewaitingperiodapplicabletotheconsummationoftheOfferundertheHSRActhasexpiredorbeenterminatedatorpriortotheExpirationDate(asdefinedbelow)and(b)anyconsent,approval,orotherauthorizationapplicabletotheconsummationoftheOfferundertheantitrustlawsofGermanyhasbeenreceivedorgranted.The"GovernmentalAuthorityCondition"requiresthatnogovernmentalauthorityofcompetentjurisdictionhasenacted,issued,promulgated,enforcedorenteredanydecision,injunction,decree,ruling,lawororder(whethertemporary,preliminaryorpermanent)thatisineffectandenjoinsorotherwiseprohibitsormakesillegaltheconsummationofthetransactionscontemplatedbytheMergerAgreementonthetermscontemplatedbytheMergerAgreement.The"RepresentationsCondition"requirestherepresentationsandwarrantiesmadebyArcticCatintheMergerAgreement,subjecttothematerialityandotherqualificationssetforthintheMergerAgreement,tobeaccurate.The"CovenantsCondition"requiresthatArcticCathasnotbreachedorfailedtoperformorcomply,inanymaterialrespect,withanyagreementorcovenanttobeperformedorcompliedwithbyitundertheMergerAgreementandanysuchbreachorfailureshallnothavebeencuredpriortotheExpirationDate.The"MaterialAdverseEffectCondition"requiresthat,sincethedateoftheMergerAgreement,

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therehasnotoccurredaCompanyMaterialAdverseEffect(asdefinedinSection12—"MergerAgreement;OtherAgreements"ofthisOffertoPurchase).TheOfferalsoissubjecttocertainothertermsandconditions.SeeSection1—"TermsoftheOffer,"Section15—"ConditionsoftheOffer"andSection16—"LegalMatters;RequiredRegulatoryApprovals"ofthisOffertoPurchase.

ArcticCathasinformedPurchaserthat,asofJanuary31,2017,therewere(i)13,061,142Sharesissuedandoutstanding(includingalloutstandingrestrictedstockgrantedunderArcticCat'sstockplans),allofwhicharedulyauthorized,validlyissued,fullypaidandnon-assessableandwereissuedfreeofpreemptive(orsimilar)rights,(ii)noSharesheldbysubsidiariesofArcticCat,(iii)nosharesofpreferredstockissuedandoutstandingand(iv)1,095,296SharesreservedforfutureissuanceinconnectionwithawardsgrantedunderArcticCat'sstockplans(including915,540SharessubjecttooutstandingoptionsawardedunderArcticCat'sstockplans(ofwhich480,518haveexercisepricesbelowtheOfferPrice)and179,756SharessubjecttooutstandingrestrictedstockunitsgrantedunderArcticCat'sstockplans).NoneofTextron,Purchaseroranyoftheirrespectiveaffiliates(exceptforonedirectorofTextronwhoowns315SharesasdescribedinSection9—"CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser"ofthisOffertoPurchase)beneficiallyownsanyShares.Asaresult,assumingthatnoShares,optionstoacquireSharesoranyotherrightstoacquireSharesareissuedafterJanuary31,2017,theMinimumConditionwillbesatisfiedifatleast7,078,220Shares,whichrepresentonemoreSharethan50%oftheFullyDilutedShares,arevalidlytenderedandnotproperlywithdrawnpriortotheexpirationoftheOffer.TheactualnumberofSharesrequiredtobevalidlytenderedandnotproperlywithdrawntosatisfytheMinimumConditionwilldependupontheactualnumberofFullyDilutedSharesofArcticCatonthedateandtimethatPurchaseracceptsforpaymentandpaysforanySharestenderedandnotwithdrawnpursuanttotheOffer(the"AcceptanceTime").

UponthetermsandsubjecttotheconditionsoftheOffer(including,iftheOfferisextendedoramended,thetermsandconditionsofanyextensionoramendment),PurchaserwillpurchaseallSharesvalidlytenderedandnotproperlywithdrawninaccordancewiththeproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchaseonorpriortotheexpirationoftheOffer.TheOfferwillexpireat5:00P.M.,NewYorkCitytime,onMarch3,2017,unlessPurchaser,underapplicablelawortheMergerAgreement,isrequiredto,orelectstoinitsorTextron'ssolediscretion,extendtheperiodoftimeforwhichtheinitialofferingperiodoftheOfferisopen.SeeSection1—"TermsoftheOffer"ofthisOffertoPurchaseforadescriptionofPurchaser'srightsandobligationswithrespecttoextensionsoftheOffer.

FollowingPurchaser'sacceptanceandpaymentforSharestenderedintheOffer,Purchaserwill,ifrequired,inordertoenableTextronandPurchasertoacquire,intheaggregate,atleast90%oftheSharesthenoutstanding,provideforone"subsequentofferingperiod"(asprovidedinRule14d-11undertheSecuritiesExchangeActof1934,asamended(the"ExchangeAct"))ofnotlessthanthree(3)normorethantwenty(20)businessdays(the"SubsequentOfferingPeriod")asdeterminedinthesolediscretionofTextronandPurchaser.DuringtheSubsequentOfferingPeriod,allSharesthatarevalidlytenderedpursuanttotheOfferwillbeimmediatelyacceptedforpaymentbyPurchaser,andPurchaserwillimmediatelypayforsuchSharesattheOfferPrice.SeeSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase.

PursuanttotheMergerAgreement,ArcticCatgrantedtoPurchaseranirrevocableoption(the"TopUpOption")exercisableonlyaftertheacceptanceforpaymentofSharesintheOffer,topurchase,atapricepershareequaltotheOfferPrice,additionalShares(the"TopUpOptionShares")equaltothelowestnumberofSharesthat,whenaddedtothenumberofSharesowned,directlyorindirectly,byTextronandPurchaser,willconstituteoneSharemorethan90%oftheFullyDilutedShares(aftergivingeffecttotheissuanceoftheTopUpOptionShares).TheTopUpOptionisnotexercisableunlessimmediatelyaftersuchexerciseandtheissuanceoftheTopUpOptionShares,TextronandPurchaserwould,directlyorindirectly,hold,intheaggregate,atleast90%oftheoutstandingShares.

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TheTopUpOptionisnotexercisableforanumberofSharesinexcessofArcticCat'stotalauthorizedandunissuedShares.TheTopUpOptionwillbeexercisableonce,tothefullnumberoftheTopUpOptionSharesthenpurchasableundertheTopUpOptiontoreachoneSharemorethan90%oftheFullyDilutedShares.PurchaserisrequiredtopaytheaggregateamountpayabletoArcticCatfortheTopUpOptionSharespurchaseduponexerciseoftheTopUpOptionthatwillbeequaltotheproductofthenumberofTopUpOptionSharesbeingsopurchaseduponsuchexerciseandtheOfferPrice(the"TopUpConsideration").TheTopUpConsiderationwillconsistof(i)anamountequaltotheparvalueoftheSharesissuedpursuanttotheTopUpOptionpayableincashand(ii)anamountequaltothebalanceoftheTopUpConsiderationpayablebycashorissuanceofapromissorynoteofPurchaseror,atPurchaser'selection,anycombinationofcashandapromissorynote.AnysuchpromissorynoteissuedbyPurchaser(i)willbearinterestattherateperannumequaltotheshort-termapplicablefederalrateonthedateofexecutionanddeliveryofsuchpromissorynote,payableinarrearsatmaturity,(ii)willmatureonthefirstanniversaryofthedateofexecutionanddeliveryofsuchpromissorynote,(iii)maybeprepaidwithoutpremiumorpenaltyand(iv)willhavenoothermaterialterms.PurchasermayexercisetheTopUpOptiononlyaftertheAcceptanceTime.ThepurposeoftheTopUpOptionistopermitPurchasertoconsummatetheMergerasa"short-form"mergerpursuanttoSection302A.621oftheMBCAandwithoutconveningameetingoftheshareholdersofArcticCat.FollowingtheOffer,ifTextronandPurchaserwouldnotownatleast90%oftheoutstandingShares,avoteoftheshareholdersofArcticCatwillberequiredtoconsummatetheMerger.Insuchcase,theapprovaloftheMergeratameetingoftheshareholdersofArcticCatwouldbeassuredbecauseofPurchaser'sownershipofatleastoneSharemorethan50%oftheFullyDilutedSharesfollowingcompletionoftheOffer.SeeSection11—"PurposeoftheOffer;PlansforArcticCat;OtherMatters"andSection12—"MergerAgreement;OtherAgreements"ofthisOffertoPurchase.

FollowingthecompletionoftheOffer,uponthetermsandsubjecttotheconditionssetforthintheMergerAgreement,andinaccordancewiththeMBCA,PurchaserwillmergewithandintoArcticCat,withArcticCatcontinuingastheSurvivingCompany.PursuanttotheMergerAgreement,attheeffectivetimeoftheMerger,whichisthedateandtimeofthefilingofthearticlesofmergerwiththeSecretaryofStateofMinnesota,orsuchlatertimeasisspecifiedinthearticlesofmergerandisagreedtobyTextronandArcticCatinwriting(the"EffectiveTime"),eachShareissuedandoutstandingimmediatelypriortotheEffectiveTime(otherthanSharesownedby(a)TextronorPurchaseroranyothersubsidiaryofTextronor(b)anyshareholderofArcticCatwhoisentitledtoandproperlydemandsandexercisesdissenters'rightswithrespecttosuchSharespursuantto,andcompliesinallrespectswith,theapplicableprovisionsofMinnesotalaw)willbeconvertedintotherighttoreceive$18.50pershareofArcticCatcommonstock(the"MergerConsideration"),payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.Section12—"MergerAgreement;OtherAgreements"ofthisOffertoPurchasecontainsamoredetaileddescriptionoftheMergerAgreement.Section5—"MaterialUnitedStatesFederalIncomeTaxConsequences"ofthisOffertoPurchasedescribesthematerialUnitedStatesfederalincometaxconsequencesofthesaleofSharesintheOffer(includingtheSubsequentOfferingPeriod)andtheMerger.

ApprovaloftheMergerrequirestheaffirmativevoteofholdersofamajorityoftheoutstandingShares,unlesstheMergerisconsummatedasa"short-form"mergerinaccordancewithSection302A.621oftheMBCAasdescribedbelow.Asaresult,iftheMinimumConditionissatisfiedandtheotherconditionstotheOfferaresatisfiedor,totheextentpermittedbyapplicablelaw,waivedbyPurchaserandtheOfferiscompleted,PurchaserwillownasufficientnumberofSharestoensurethattheMergerwillbeapprovedbytheshareholdersofArcticCat.SeeSection11—"PurposeoftheOffer;PlansforArcticCat;OtherMatters"ofthisOffertoPurchase.

Section302A.621oftheMBCAprovidesthat,ifacorporationownsatleast90%oftheoutstandingsharesofeachclassofstockofasubsidiarycorporation,thecorporationholdingsuchstock

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maymergesuchsubsidiaryintoitself,oritselfintosuchsubsidiary,withoutanyactionorvoteonthepartoftheboardofdirectorsortheshareholdersofsuchothercorporation.UponthetermsandsubjecttotheconditionsoftheMergerAgreement,intheeventthatPurchaseracquiresatleast90%ofthethen-outstandingSharespursuanttotheOfferandanysubsequentexerciseoftheTopUpOption,thepartieshaveagreedtotakeallnecessaryandappropriateactiontocausetheMergertobecomeeffectiveaspromptlyaspracticablewithoutameetingoftheshareholdersofArcticCatinaccordancewithSection302A.621oftheMBCA.SeeSection12—"MergerAgreement;OtherAgreements"ofthisOffertoPurchase.

This Offer to Purchase and the related Letter of Transmittal contain important information that shareholders of Arctic Cat should read carefullybefore making any decision with respect to the Offer.

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THE TENDER OFFER

1. Terms of the Offer

UponthetermsandsubjecttotheconditionsoftheOffer(including,iftheOfferisextendedoramended,thetermsandconditionsofanyextensionoramendment),PurchaserwillpurchaseallSharesvalidlytenderedandnotproperlywithdrawninaccordancewiththeproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase,onorpriortotheExpirationDate.The"ExpirationDate"is5:00P.M.,NewYorkCitytime,onMarch3,2017,unlesstheOfferisextendedpursuanttoandinaccordancewiththetermsoftheMergerAgreement,inwhichevent"ExpirationDate"willmeanthelatesttimeanddateatwhichtheOffer,assoextended,willexpire.

TheMergerAgreementprovidesthat,unlesstheMergerAgreementisterminated,Purchasermay,initssolediscretion,extendtheOfferforoneormoreperiodsofuptotwenty(20)businessdayseachif,atthethenscheduledExpirationDate,anyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasehavenotbeensatisfiedor,totheextentpermittedbyapplicablelaw,waivedbyTextronorPurchaser.TheMergerAgreementprovidesthatPurchaserwillalsoextendtheOfferforanyperiodrequiredbyanyapplicablelaworanyrule,regulation,interpretationorpositionoftheSECoritsstaffapplicabletotheOfferoranyoftherulesandregulations,includinglistingstandards,ofNASDAQoranyotherUnitedStatesnationalsecuritiesexchangeonwhichtheSharesarethentraded.UnlesstheOfferisterminatedinaccordancewiththeMergerAgreement,intheeventthatanyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasearenotsatisfiedor,totheextentpermittedbyapplicablelaw,waivedbyTextronorPurchaserasofanythenscheduledexpirationoftheOfferandtheArcticCatBoardhasnoteffectedanAdverseRecommendationChange(asdefinedinSection12(a)—"MergerAgreement"ofthisOffertoPurchase),ArcticCatmay,initssolediscretionandbywrittennoticeatleasttwo(2)businessdayspriortothethenscheduledexpirationoftheOffer,requestthatPurchaserextendtheOfferforoneperiodoften(10)businessdays,untilalloftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasearesatisfiedor,wherepermittedbyapplicablelaw,waivedbyTextronorPurchaser.SeeSection1—"TermsoftheOffer"ofthisOffertoPurchaseforadditionalinformationaboutPurchaser'sobligationstoextendtheOffer.InnoeventwillPurchaserberequiredtoextendtheOfferforanyreasonbeyondtheearliertooccurof(a)thedatetheMergerAgreementisterminatedor(b)May24,2017.

UndernocircumstanceswillinterestbepaidontheOfferPricefortenderedShares,regardlessofanyextensionoforamendmenttotheOfferoranydelayinpayingfortheShares.

TheOfferisconditionedupon,amongotherthings,thesatisfactionoftheMinimumCondition,theRegulatoryApprovalCondition,theGovernmentalAuthorityCondition,theRepresentationsCondition,theCovenantsConditionandtheMaterialAdverseEffectCondition.ConsummationoftheOfferisalsoconditioneduponthesatisfactionor,totheextentpermittedbyapplicablelaw,waiverofotherconditionssetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchase.

IntheeventthatPurchaserwaivesanyconditionsetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchase,theSECmay,ifthewaiverisdeemedtoconstituteamaterialchangetotheinformationpreviouslyprovidedtoshareholdersofArcticCat,requirethattheOfferremainopenforanadditionalperiodoftimeandthatTextronandPurchaserdisseminateinformationconcerningsuchwaiver.PurchaseracknowledgesthatRule14e-1(c)undertheExchangeActrequiresPurchasertopaytheconsiderationofferedorreturntheSharestenderedpromptlyaftertheterminationorwithdrawaloftheOffer.

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If,attheExpirationDate,alloftheconditionsoftheOfferhavebeensatisfiedor,totheextentpermittedbyapplicablelaw,waived,PurchaserwillacceptforpaymentandpromptlypayforSharestenderedtoPurchaserandnotproperlywithdrawnintheOffer.AfteracceptanceforpaymentofSharesintheOffer,ifTextronandPurchaserdonothold,intheaggregateand,ifapplicable,aftergivingeffecttothe"topupoption,"atleast90%oftheoutstandingSharestopermitPurchasertoconsummatetheMergerasa"short-form"mergerpursuanttoSection302A.621oftheMBCA,thenPurchaserwillprovide,inaccordancewithRule14d-11undertheExchangeAct,theSubsequentOfferingPeriodofnotlessthanthree(3)normorethantwenty(20)businessdaysasdeterminedinthesolediscretionofTextronandPurchaser.TheSubsequentOfferingPeriod,ifitisprovided,willallowshareholdersofArcticCattotenderSharesaftertheExpirationDateandreceivethesameconsiderationthatwaspaidintheOffer.IntheSubsequentOfferingPeriod,SharesmaybetenderedintheOffer(butSharestenderedmaynotbewithdrawn)andPurchaserwillimmediatelyacceptandpromptlypayforSharesastheyaretendered.IntheeventthatitisnecessaryforPurchasertoprovidetheSubsequentOfferingPeriod,PurchaserwillprovideanannouncementtothateffectalongwiththeresultsoftheOffertoanationalnewsservicenolaterthan9:00A.M.,NewYorkCitytime,onthenextbusinessdayafterthepreviouslyscheduledExpirationDate.TheExpirationDatefortheOfferiscurrentlyscheduledfor5:00P.M.,NewYorkCitytime,onMarch3,2017.

TextronandPurchaserreservetherighttoincreasetheOfferPrice,waive(totheextentpermittedbyapplicablelaw),initssolediscretion,inwholeorinpart,anyconditiontotheOfferormakeanyotherchangesinthetermsandconditionsoftheOffer,except,unlessotherwisecontemplatedbytheMergerAgreementoraspreviouslyapprovedbyArcticCatinwriting,Purchaserisnotpermittedto:

• decreasetheOfferPrice;

• changetheformofconsiderationpayableintheOffer;

• reducethemaximumnumberofSharessoughttobepurchasedintheOffer;

• amendorwaivetheMinimumCondition;

• amendanyoftheotherconditionsandrequirementstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchaseinamannermateriallyadversetotheholdersofShares;or

• extendtheExpirationDateinamannerotherthaninaccordancewiththeMergerAgreement.

If,priortotheExpirationDate,PurchaserincreasestheOfferPriceofferedtoshareholdersofArcticCatintheOffer,PurchaserwillpaytheincreasedpricetoallshareholdersofArcticCatfromwhomPurchaserpurchasesSharesintheOffer,whetherornotSharesweretenderedbeforetheincreaseinprice.AsofthedateofthisOffertoPurchase,PurchaserhasnointentiontoincreasetheOfferPrice.

TherightsPurchaserreservesintheprecedingparagraphareinadditiontoitsrightspursuanttoSection15—"ConditionsoftheOffer"ofthisOffertoPurchase.Anyextension,waiveroramendmentoftheOffer,delayinacceptanceforpaymentorpaymentfortheSharestenderedintheOffer,orterminationoftheOffer,willbefollowedaspromptlyaspracticablebypublicannouncementthereof,suchannouncement,inthecaseofanextension,tobemadenolaterthan9:00A.M.,NewYorkCitytime,onthenextbusinessdayafterthepreviouslyscheduledExpirationDate,inaccordancewiththepublicannouncementrequirementsofRule14e-1(d)undertheExchangeAct.Subjecttoapplicablelaw(includingRules14d-4(d)and14d-6(c)undertheExchangeAct,whichrequirethatmaterialchangesbepromptlydisseminatedtoshareholdersinamannerreasonablydesignedtoinformthemofsuchchanges),andwithoutlimitingthemannerinwhichPurchasermaychoosetomakeanypublicannouncement,Purchaserwillhavenoobligationtopublish,advertiseorotherwisecommunicateanypublicannouncementotherthanbyissuingapressreleasetoanationalnewsservice.Duringanysuch

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extension,allSharespreviouslytenderedandnotproperlywithdrawnwillremainsubjecttotheOffer,subjecttotherightsofatenderingshareholdertowithdrawsuchshareholder'sShares.

IfPurchasermakesamaterialchangeinthetermsoftheOffer,orifPurchaserwaivesamaterialconditiontotheOffer,PurchaserwillextendtheOfferanddisseminateadditionaltenderoffermaterialstotheextentrequiredbyapplicablelawandtheapplicableregulationsoftheSEC.TheminimumperiodduringwhichtheOffermustremainopenfollowingmaterialchangesinthetermsoftheOffer,otherthanachangeinpriceorachangeinpercentageofsecuritiessought,dependsuponthefactsandcircumstances,includingthematerialityofthechanges.IntheSEC'sview,atenderoffershouldremainopenforaminimumoffive(5)businessdaysfromthedatethematerialchangeisfirstpublished,sentorgiventoshareholders,and,ifmaterialchangesaremadewithrespecttoinformationthatapproachesthesignificanceofpriceandthepercentageofsecuritiessought,aminimumoften(10)businessdaysmayberequiredtoallowforadequatedisseminationandinvestorresponse.Withrespecttoachangeinprice,aminimumten(10)businessdayperiodfromthedateofthechangeisgenerallyrequiredtoallowforadequatedisseminationtoshareholders.Accordingly,if,priortotheExpirationDate,PurchaserdecreasesthenumberofSharesbeingsought,orincreasesordecreasestheconsiderationofferedpursuanttotheOffer,andiftheOfferisscheduledtoexpireatanytimeearlierthantheperiodendingonthetenth(10th)businessdayfromthedatethatnoticeoftheincreaseordecreaseisfirstpublished,sentorgiventoshareholdersofArcticCat,PurchaserwillextendtheOfferatleastuntiltheexpirationofthatten(10)businessdayperiod.ForpurposesoftheOffer,a"businessday"meansanydayotherthanaSaturday,SundayoraUnitedStatesfederalholidayandconsistsofthetimeperiodfrom12:01A.M.through12:00midnight,NewYorkCitytime.

ArcticCathasprovidedTextronandPurchaserwithitsshareholderlistsandsecuritypositionlistingsforthepurposeofdisseminatingtheOffertoshareholdersofArcticCat.ThisOffertoPurchase,therelatedLetterofTransmittalandotherrelevantmaterialswillbemailedtorecordholdersofShares,andwillbefurnishedtobrokers,dealers,commercialbanks,trustcompaniesorothernomineeswhosenamesappearonthesecurityholderlistsor,ifapplicable,thatarelistedasparticipantsinaclearingagency'ssecuritypositionlisting,forforwardingtobeneficialownersofShares.

2. Acceptance for Payment and Payment for Shares

UponthetermsandsubjecttotheconditionsoftheOffer(including,ifPurchaserextendsoramendstheOffer,thetermsandconditionsoftheOfferassoextendedoramended)andtheapplicablerulesandregulationsoftheSEC,promptlyaftertheExpirationDate,Purchaserwillpurchase,byacceptingforpayment,andwillpayfor,allSharesvalidlytenderedandnotproperlywithdrawn(aspermittedbySection4—"WithdrawalRights"ofthisOffertoPurchase)priortotheExpirationDate.IfPurchaserincludestheSubsequentOfferingPeriod,PurchaserwillimmediatelyacceptandpromptlypayforSharesastheyaretenderedduringtheSubsequentOfferingPeriod.ForinformationwithrespecttoapprovalsthatTextronandPurchaserareormayberequiredtoobtainpriortothecompletionoftheOffer,seeSection16—"LegalMatters;RequiredRegulatoryApprovals"ofthisOffertoPurchase.

ForpurposesoftheOffer,Purchaserwillbedeemedtohaveacceptedforpayment,andtherebypurchased,Sharesvalidlytenderedandnotproperlywithdrawnas,ifandwhenPurchasergivesoralorwrittennoticetotheDepositaryofPurchaser'sacceptanceforpaymentofsuchSharespursuanttotheOffer.UponthetermsandsubjecttotheconditionsoftheOffer,paymentforSharesacceptedforpaymentpursuanttotheOfferwillbemadebydepositoftheOfferPricewiththeDepositary,whichwillactasagentfortenderingshareholdersofArcticCatforthepurposeofreceivingpaymentsfromPurchaserandtransmittingsuchpayments,lessanyapplicablewithholdingtax,toshareholdersofArcticCatwhoseShareshavebeenacceptedforpayment.IfPurchaserextendstheOffer,isdelayedinitsacceptanceforpaymentofSharesorisunabletoacceptSharesforpaymentpursuanttotheOffer

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foranyreason,then,withoutprejudicetoPurchaser'srightsundertheOffer,theDepositarymay,nevertheless,onbehalfofPurchaser,retaintenderedShares,andsuchSharesmaynotbewithdrawnexcepttotheextentthattenderingshareholdersareentitledtowithdrawalrightsasdescribedunderSection4—"WithdrawalRights"ofthisOffertoPurchaseandasotherwiserequiredbyRule14e-1(c)undertheExchangeAct,whichrequiresthatPurchaserpaytheconsiderationofferedorreturnSharesdepositedbyoronbehalfoftenderingshareholderspromptlyafterthecompletionoftheOffer.

Under no circumstances will Purchaser pay interest on the Offer Price for Shares, regardless of any extension of the Offer or any delay in payment forShares.

Inallcases,PurchaserwillpayforSharespurchasedpursuanttotheOfferonlyaftertimelyreceiptbytheDepositaryof:(a)certificatesrepresentingtenderedShares("Certificates")ortimelyconfirmationofabook-entrytransferofsuchShares(a"Book-EntryConfirmation")intotheDepositary'saccountatTheDepositoryTrustCompany("DTC")pursuanttotheproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase;(b)aLetterofTransmittal(orafacsimilethereof),properlycompletedanddulyexecuted,withanyrequiredsignatureguaranteesoranAgent'sMessage(asdefinedbelow)inconnectionwithabook-entrytransfer;and(c)anyotherdocumentsrequiredbytheLetterofTransmittal.

Theterm"Agent'sMessage"meansamessagetransmittedbyDTCto,andreceivedby,theDepositaryandformingapartofaBook-EntryConfirmation,whichmessagestatesthatDTChasreceivedanexpressacknowledgmentfromtheparticipantinDTCtenderingtheSharesthatarethesubjectoftheBook-EntryConfirmationthattheparticipanthasreceivedandagreestobeboundbythetermsoftheLetterofTransmittalandthatPurchasermayenforcethatagreementagainsttheparticipant.

IfPurchaserdoesnotpurchaseanytenderedSharespursuanttotheOfferforanyreason,orifCertificatesrepresentingmoreSharesthanaretenderedaresubmitted,PurchaserwillreturnCertificatesrepresentingunpurchasedoruntenderedShares(or,inthecaseofSharesdeliveredbyBook-EntryConfirmationofatransferintotheDepositary'saccountatDTCpursuanttotheproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase,theShareswillbecreditedtoanaccountmaintainedwithinDTC),withoutexpense,aspromptlyaspracticablefollowingtheexpiration,terminationorwithdrawaloftheOffer.

3. Procedures for Accepting the Offer and Tendering Shares

Valid Tender of Shares. Exceptassetforthbelow,tovalidlytenderSharesintheOffer,theDepositarymustreceivetheLetterofTransmittal(orafacsimilethereof),properlycompletedandsigned,togetherwithanyrequiredsignatureguarantees,oranAgent'sMessageinconnectionwithabook-entrydeliveryofShares,andanyotherdocumentsrequiredbytheLetterofTransmittalatitsaddresssetforthonthebackcoverofthisOffertoPurchaseonorpriortotheExpirationDate,andeither(a)CertificatesrepresentingtenderedSharesmustbedeliveredtotheDepositaryorSharesmustbetenderedpursuanttotheprocedureforbook-entrytransfersetforthbelowandtheDepositarymustreceiveBook-EntryConfirmation,ineachcase,onorpriortotheExpirationDate,or(b)thetenderingshareholdermustcomplywiththeguaranteeddeliveryproceduressetforthbelow.

The method of delivery of the Letter of Transmittal, Certificates and all other required documents, including delivery through DTC, is at the optionand sole risk of the tendering shareholder, and delivery will be considered made only when the Depositary actually receives the Certificates, the Letter ofTransmittal and all other required documents. If delivery is by mail, registered mail with return receipt requested, properly insured, is encouraged andstrongly recommended. In all cases, sufficient time should be allowed to ensure timely delivery prior to the Expiration Date.

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Book-Entry Transfer. TheDepositarywillmakearequesttoestablishanaccountwithrespecttotheSharesatDTCforpurposesoftheOfferwithintwo(2)businessdaysafterthedateofthisOffertoPurchase.AnyfinancialinstitutionthatisaparticipantinthesystemofDTCmaymakebook-entrydeliveryofSharesbycausingDTCtotransfertheSharesintotheDepositary'saccountatDTCinaccordancewithDTC'sprocedures(a"Book-EntryTransfer").AlthoughSharesmaybedeliveredthroughBook-EntryConfirmationofatransferintotheDepositary'saccountatDTC,theDepositarymustreceivetheLetterofTransmittal(orafacsimilethereof),properlycompletedandsigned,withanyrequiredsignatureguarantees,oranAgent'sMessageinconnectionwithabook-entrytransfer,andanyotherrequireddocuments,atoneofitsaddressessetforthonthebackcoverofthisOffertoPurchaseatorbeforetheExpirationDate,ortheguaranteeddeliveryproceduressetforthbelowmustbecompliedwith.

Delivery of documents to DTC in accordance with DTC's procedures does not constitute delivery to the Depositary.

ForSharestobevalidlytenderedduringtheSubsequentOfferingPeriod,ifany,theforegoingproceduresmustbecompliedwith,exceptthatrequireddocumentsandCertificatesmustbereceivedduringtheSubsequentOfferingPeriod.

ThetenderofSharespursuanttoanyoneoftheproceduresdescribedabovewillconstituteacceptanceoftheOffer,aswellasthetenderingshareholder'srepresentationandwarrantythatsuchshareholderhasfullpowerandauthoritytotenderandassigntheSharestendered,asspecifiedintheLetterofTransmittal.Purchaser'sacceptanceforpaymentofSharestenderedpursuanttotheOfferwillconstituteabindingagreementbetweenPurchaserandthetenderingshareholderuponthetermsandsubjecttotheconditionsoftheOffer.

Signature Guarantees. Abank,broker,dealer,creditunion,savingsassociationorotherentitythatisamemberingoodstandingoftheSecuritiesTransferAgentsMedallionProgramoranyother"eligibleguarantorinstitution"(asdefinedinRule17Ad-15undertheExchangeAct)(each,an"EligibleInstitution"andcollectively,"EligibleInstitutions")mustguaranteesignaturesonallLettersofTransmittal,unlesstheSharestenderedaretendered(a)byaregisteredholderofSharesthathasnotcompletedeithertheboxlabeled"SpecialPaymentInstructions"ortheboxlabeled"SpecialDeliveryInstructions"intheLetterofTransmittalor(b)fortheaccountofanEligibleInstitution.SeeInstruction1oftheLetterofTransmittal.

IfCertificatesareregisteredinthenameofapersonotherthanthesigneroftheLetterofTransmittal,orifpaymentistobemadeto,orCertificatesforunpurchasedSharesaretobeissuedorreturnedto,apersonotherthantheregisteredholder,thenthetenderedCertificatesmustbeendorsedoraccompaniedbyappropriatestockpowers,signedexactlyasthenameornamesoftheregisteredholderorholdersappearontheCertificates,withthesignaturesonsuchCertificatesorstockpowersguaranteedbyanEligibleInstitutionasprovidedintheLetterofTransmittal.SeeInstructions1and5oftheLetterofTransmittal.

IfCertificatesareforwardedseparatelytotheDepositary,aproperlycompletedanddulyexecutedLetterofTransmittal(orafacsimileoftheLetterofTransmittal)mustaccompanyeachdeliveryofCertificates.

Guaranteed Delivery. AshareholderwhodesirestotenderSharesintheOfferandwhoseCertificatesarenotimmediatelyavailableortimewillnotpermitallrequireddocumentstoreachtheDepositaryatorbeforetheExpirationDateortheproceduresforbook-entrytransfercannotbecompletedatorbeforetheExpirationDate,maytenderSharesbycomplyingwithallofthefollowingguaranteeddeliveryprocedures:

• suchtenderismadebyorthroughanEligibleInstitution;

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• theDepositaryreceives,asdescribedbelow,aproperlycompletedandsignedNoticeofGuaranteedDeliveryatorbeforetheExpirationDate,substantiallyintheformmadeavailablebyPurchaser;and

• theDepositaryreceivesCertificates(oraBook-EntryConfirmation)representingalltenderedShares,inproperformfortransfertogetherwithaproperlycompletedanddulyexecutedLetterofTransmittal(orafacsimileoftheLetterofTransmittal),withanyrequiredsignatureguarantees(or,inthecaseofabook-entrytransfer,anAgent'sMessage)andanyotherdocumentsrequiredbytheLetterofTransmittalwithinthree(3)tradingdaysontheNASDAQafterthedateofexecutionoftheNoticeofGuaranteedDelivery.

DeliveryoftheNoticeofGuaranteedDeliverymaybemadebymailorfacsimiletransmissiontotheDepositary.TheNoticeofGuaranteedDeliverymustincludeaguaranteebyanEligibleInstitutionintheformsetforthintheNoticeofGuaranteedDelivery.

NotwithstandinganyotherprovisionoftheOffer,PurchaserwillpayforSharestenderedandacceptedforpaymentpursuanttotheOfferonlyaftertimelyreceiptbytheDepositaryof(a)CertificatesrepresentingsuchShares,orBook-EntryConfirmationofabook-entrytransferofsuchSharesintotheDepositary'saccountatDTC,(b)aproperlycompletedanddulyexecutedLetterofTransmittal(orfacsimileoftheLetterofTransmittal),togetherwithanyrequiredsignatureguarantees(or,inthecaseofabook-entrytransfer,anAgent'sMessage),and(c)anyotherdocumentsrequiredbytheLetterofTransmittal.Accordingly,paymentmightnotbemadetoalltenderingshareholdersofArcticCatatthesametime,andwilldependuponwhentheDepositaryreceivesCertificatesorBook-EntryConfirmationthatShareshavebeentransferredintotheDepositary'saccountatDTC.

Backup United States Federal Income Tax Withholding. Toavoidbackupwithholding,eachtenderingshareholderthatisaUnitedStatespersonforUnitedStatesfederalincometaxpurposesisrequiredtoprovidetheDepositarywiththeshareholder'scorrectTaxpayerIdentificationNumber("TIN"),generallytheshareholder'ssocialsecurityorfederalemployeridentificationnumber,ontheFormW-9,whichisprovidedunder"ImportantTaxInformation"below,or,alternatively,toestablishtothesatisfactionoftheDepositaryanadequatebasisforexemptionfrombackupwithholding.Atenderingshareholdermustcrossoutitem(2)inPartIIoftheFormW-9iftheshareholderhasbeennotifiedbytheInternalRevenueService(the"IRS")thatsuchshareholderissubjecttobackupwithholding.Inadditiontopotentialpenalties,failuretoprovidethecorrectinformationontheFormW-9maysubjectthetenderingshareholdertobackupUnitedStatesfederalincometaxwithholdingatacurrentrateof28%onthepaymentofthepurchasepricemadetosuchshareholder.IfthetenderingshareholderhasnotbeenissuedaTINandhasappliedforoneorintendstoapplyforoneinthenearfuture,suchshareholdershouldwrite"AppliedFor"inthespaceprovidedfortheTINinPartIoftheFormW-9,andsignanddatetheFormW-9.If"AppliedFor"iswritteninPartI,theDepositarywillwithhold28%fromanypaymentsofthepurchasepricetosuchshareholderuntilaTINisprovidedtotheDepositary.AtenderingshareholderthatisnotaUnitedStatespersonmayqualifyasanexemptrecipientbysubmittingtotheDepositaryaproperlycompletedFormW-8BEN,FormW-8BEN-E,FormW-8ECIorFormW-8IMY,asapplicable(whichtheDepositarywillprovideuponrequest)signedunderpenaltiesofperjury,attestingtothatshareholder'sexemptstatus.Suchshareholdershouldconsultataxadvisortodeterminewhichformisappropriate.

Backupwithholdingisnotanadditionaltax.AnyamountswithheldunderthebackupwithholdingrulesfrompaymentsmadetoashareholderofArcticCatmayberefundedorcreditedagainstsuchshareholder'sUnitedStatesfederalincometaxliability,ifany,providedthattherequiredinformationistimelyfurnishedtotheIRS.

Appointment as Proxy. ByexecutingtheLetterofTransmittal,thetenderingshareholderirrevocablyappointsPurchaser'sdesignees,andeachofthem,assuchshareholder'sagents,attorneys-in-factandproxies,withfullpowerofsubstitution,inthemannersetforthintheLetterof

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Transmittal,tothefullextentofsuchshareholder'srightswithrespecttotenderedSharesthatPurchaseracceptsforpaymentandwithrespecttoanyandallotherSharesorrightsissuedorissuableinrespectofthoseSharesonorafterthedateofthisOffertoPurchase.AllsuchpowersofattorneyandproxieswillbeconsideredirrevocableandcoupledwithaninterestinthetenderedShares.ThisappointmentwillbeeffectivewhenPurchaseracceptstheSharesforpaymentinaccordancewiththetermsoftheOffer.Uponacceptanceforpayment,allotherpowersofattorneyandproxiesgivenbythetenderingshareholderwithrespecttosuchshareholder'sSharesorrightspriortosuchpaymentwillberevoked,withoutfurtheraction,andnosubsequentpowersofattorneyandproxiesmaybegivenbysuchshareholder(and,ifgiven,willnotbedeemedeffective).Purchaser'sdesigneeswill,withrespecttotheSharesandrightsforwhichtheappointmentiseffective,beempoweredtoexerciseallvotingandotherrightsofsuchshareholderasthey,intheirsolediscretion,maydeemproperatanyannualorspecialmeetingofshareholdersofArcticCat,oranyadjournmentorpostponementthereof,orbyconsentinlieuofanysuchmeetingofshareholdersofArcticCatorotherwise.InorderforSharestobedeemedvalidlytendered,immediatelyupontheacceptanceforpaymentofsuchShares,PurchaseroritsdesigneemustbeabletoexercisefullvotingrightswithrespecttoShares,includingvotingatanymeetingofshareholdersofArcticCat.

Determination of Validity. Allquestionsastotheformofdocumentsandthevalidity,eligibility(includingtimeofreceipt)andacceptanceforpaymentofanytenderofShareswillbedeterminedbyPurchaser,initssolediscretion.Purchaserreservestheabsoluteright,subjecttothetermsoftheMergerAgreementandapplicablelaw,torejectanyoralltendersdeterminedbyPurchasernottobeinproperformortheacceptanceoforpaymentforwhichmay,intheopinionofPurchaser'scounsel,beunlawful.PurchaseralsoreservestheabsoluterighttowaiveanyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchase,excepttheMinimumCondition(whichwaiverrequiresArcticCat'spriorwrittenconsent)oranydefectorirregularityinanytenderofSharesofanyparticularshareholderofArcticCat,whetherornotsimilardefectsorirregularitiesarewaivedinthecaseofothershareholdersofArcticCat.AllquestionsastotheinterpretationofthetermsandconditionsoftheOfferwillbedeterminedbyPurchaser,initssolediscretion.NotenderofShareswillbedeemedtohavebeenvalidlymadeuntilalldefectsandirregularitieswithrespecttothetenderhavebeencuredorwaivedbyPurchaser.NoneofTextron,Purchaseroranyoftheirrespectiveaffiliatesorassigns,theDepositary,theInformationAgentoranyotherpersonorentitywillbeunderanydutytogiveanynotificationofanydefectsorirregularitiesintendersorincuranyliabilityforfailuretogiveanysuchnotification.

Shares held through the Arctic Cat 401(k) Plan. IfashareholderbeneficiallyholdsSharesthroughtheArcticCat401(k)Plan,theenclosedTenderOfferInstructionFormmustbecompletedandsigned.TheTenderOfferInstructionForminstructstheArcticCat401(k)PlanTrusteetotenderSharesintheOffer.TheTenderOfferInstructionFormmustbedeliveredtoWellsFargoBank,N.A.sufficientlyinadvanceoftheExpirationDate(andinanyeventnotlaterthanthree(3)businessdayspriortotheExpirationDate)toenableWellsFargoBank,N.A.andtheArcticCat401(k)PlanTrusteetocomplywiththeinstructionscontainedtherein.DetailedinstructionsarecontainedintheTenderOfferInstructionForm.PurchaserassumesnoresponsibilityfortheactionsoftheArcticCat401(k)PlanTrustee.

4. Withdrawal Rights

AshareholdermaywithdrawSharespreviouslytenderedintheOfferatanytimepriortotheExpirationDate(includinganyextensionofsuchtime).Thereafter,tendersofSharesareirrevocable.IfnotacceptedforpaymentasprovidedinthisOffertoPurchasepriortoApril27,2017,suchSharesmayalsobewithdrawnatanytimeafterApril27,2017.In the event Purchaser provides the Subsequent Offering Period following the Offer, no withdrawal rights will apply to Sharestendered

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during such Subsequent Offering Period or to Shares tendered in the Offer and accepted for payment prior to the commencement of such SubsequentOffering Period.

If,foranyreason,acceptanceforpaymentofanySharestenderedintheOfferisdelayed,orPurchaserisunabletoacceptforpaymentorpayforSharestenderedintheOffer,then,withoutprejudicetoPurchaser'srightssetforthinthisOffertoPurchase,theDepositarymay,nevertheless,onPurchaser'sbehalf,retaintenderedShares,andsuchSharesmaynotbewithdrawn,excepttotheextentthatsuchshareholderisentitledtoandproperlyexerciseswithdrawalrightsasdescribedinthisSection4—"WithdrawalRights"ofthisOffertoPurchase.AnysuchdelaywillbebyanextensionoftheOffertotheextentrequiredbyapplicablelawandtherulesandregulationsoftheSEC.

Inorderforashareholder'swithdrawalofSharestobeeffective,suchshareholdermusttimelydeliverawrittenorfacsimiletransmissionnoticeofwithdrawaltotheDepositaryatoneofitsaddressesorfaxnumberssetforthonthebackcoverofthisOffertoPurchase.Anysuchnoticeofwithdrawalmustspecifysuchshareholder'sname,thenumberofSharesthatsuchshareholderwantstowithdraw,and,ifCertificateshavebeentendered,thenameoftheregisteredholderofSharesasshownontheCertificate,ifdifferentfromsuchshareholder'sname.IfCertificatesfortheSharestobewithdrawnhavebeendeliveredorotherwiseidentifiedtotheDepositary,then,priortothephysicalreleaseofCertificates,theserialnumbersshownontheparticularCertificatesevidencingSharestobewithdrawnmustbesubmittedtotheDepositaryandanEligibleInstitutionmustguaranteethesignaturesonthenoticeofwithdrawal,exceptinthecaseofSharestenderedfortheaccountofanEligibleInstitution.IfShareshavebeentenderedpursuanttotheproceduresforbook-entrytransfersetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase,thenoticeofwithdrawalmustspecifythenameandnumberoftheaccountatDTCtobecreditedwiththewithdrawnShares,inwhichcaseanoticeofwithdrawalwillbeeffectiveifdeliveredtotheDepositarybyanymethodofdeliverydescribedinthefirstsentenceofthisparagraph.

IfashareholderwhotenderedSharesthroughtheArcticCat401(k)PlanbygivinginstructionstoWellsFargoBank,N.A.wishestowithdrawSharesfromthetender,anupdatedTenderOfferInstructionFormmustbedeliveredtoWellsFargoBank,N.A.SuchinstructionsmustprovidesufficientnoticeinadvanceoftheExpirationDate(andinanyeventnotlaterthanthree(3)businessdayspriortotheExpirationDate)toenableWellsFargoBank,N.A.andtheArcticCat401(k)PlanTrusteetocomplywiththeinstructionscontainedtherein.

Allquestionsastotheformandvalidity(includingtimeofreceipt)ofnoticesofwithdrawalwillbedeterminedbyPurchaser,initssolediscretion.NoneofTextron,Purchaseroranyoftheirrespectiveaffiliatesorassigns,theDepositary,theInformationAgentoranyotherpersonorentitywillbeunderanydutytogiveanynotificationofanydefectsorirregularitiesinanynoticeofwithdrawalorincuranyliabilityforfailuretogiveanysuchnotification.

AwithdrawalofSharesmaynotberescinded.AnySharesthatareproperlywithdrawnwillbeconsiderednottohavebeenvalidlytenderedforpurposesoftheOffer,butsuchSharesmaybetenderedagainatanytimebeforetheExpirationDatebyfollowinganyoftheproceduresdescribedinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase.

5. Material United States Federal Income Tax Consequences

ThefollowingisasummaryofthematerialUnitedStatesfederalincometaxconsequencesoftheOfferandtheMergerto"U.S.holders"and"non-U.S.holders"(eachasdefinedbelow)ofArcticCatCommonStockwhoseSharesaretenderedandacceptedforpaymentpursuanttotheOfferorwhoseSharesareconvertedintotherighttoreceivecashintheMerger.ThisdiscussionisforgeneralinformationonlyanddoesnotpurporttoconsiderallaspectsofUnitedStatesfederalincometaxationthatmightberelevanttoshareholdersofArcticCat.ThediscussionisbasedoncurrentprovisionsoftheInternalRevenueCodeof1986,asamended(the"Code"),theU.S.TreasuryRegulationspromulgatedthereunderandadministrativeandjudicialrulings,allofwhicharesubjecttochangeorvaryinginterpretation,possiblywithretroactiveeffect.

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Forpurposesofthisdiscussion,theterm"U.S.holder"meansabeneficialowneroftheSharesthatis,forUnitedStatesfederalincometaxpurposes:

• anindividualcitizenorresidentoftheUnitedStates;

• acorporation(includinganyentitytreatedasacorporation)createdororganizedunderthelawsoftheUnitedStates,anystatethereofortheDistrictofColumbia;

• anestatetheincomeofwhichissubjecttoUnitedStatesfederalincometaxregardlessofitssource;or

• atrustif(i)aUnitedStatescourtisabletoexerciseprimarysupervisionoverthetrust'sadministrationandoneormoreUnitedStatespersonsareauthorizedtocontrolallsubstantialdecisionsofthetrustor(ii)ithasavalidelectionineffectunderapplicableUnitedStatesTreasuryregulationstobetreatedasaUnitedStatesperson.

IfanentityorarrangementtreatedasapartnershipforUnitedStatesfederalincometaxpurposesholdsShares,thetaxtreatmentofapartnerinsuchpartnershipwillgenerallydependonthestatusofthepartnerandtheactivitiesofthepartnership.IfashareholderisapartnerofapartnershipholdingShares,suchshareholdershouldconsulttheirtaxadvisor.

A"non-U.S.holder"isabeneficialownerofsharesthatisnotaU.S.holderoranentityorarrangementtreatedasapartnershipforUnitedStatesfederalincometaxpurposes.

ThisdiscussionassumesthataholderholdstheSharesasacapitalassetwithinthemeaningofSection1221oftheCode(generally,propertyheldforinvestment).NorulinghasbeenorwillbesoughtfromtheIRS,andnoopinionofcounselhasbeenorwillberendered,astothetaxconsequencesoftheOfferandtheMerger.ThefollowingdoesnotaddressallaspectsofUnitedStatesfederalincometaxthatmightberelevanttoholdersinlightoftheirparticularcircumstancesorholdersthatmaybesubjecttospecialrules(including,withoutlimitation,dealersinsecuritiesorcurrencies,tradersinsecuritiesthatelectmark-to-markettreatment,financialinstitutions,insurancecompanies,mutualfunds,tax-exemptorganizations,holdersliableforthealternativeminimumtax,UnitedStatesexpatriates,U.S.holderswhosefunctionalcurrencyisnottheUnitedStatesdollar,holderswhoholdSharesaspartofahedge,straddle,constructivesaleorconversiontransactionorotherintegratedinvestment,holderswhoacquiredSharespursuanttotheexerciseofemployeestockoptionsorotherwiseascompensation,holderswhoactuallyorconstructivelyownmorethan5%ofArcticCatCommonStock,orholderswhoexercisedissenters'rights).Inaddition,thisdiscussiondoesnotaddressanyaspectofforeign,state,local,alternativeminimumestate,giftorothertaxlawthatmaybeapplicabletoaholder.

Tax matters are complicated, and the tax consequences of the Offer and the Merger depend on the shareholder's particular tax situation. Holders arestrongly urged to consult their tax advisor to determine the applicability of the rules discussed below and the particular tax consequences of the Offer andthe Merger, including the application and effect of any state, local and foreign tax laws and of changes to such laws.

U.S.Holders

TheexchangeofSharesforcashpursuanttotheOfferortheMergerwillbeataxabletransactionforUnitedStatesfederalincometaxpurposes.Ingeneral,aU.S.holderwhosellsSharespursuanttotheOfferorreceivescashinexchangeforSharespursuanttotheMergerwillrecognizegainorlossforUnitedStatesfederalincometaxpurposesinanamountequaltothedifference,ifany,betweentheamountofcashreceivedfortheSharesandtheU.S.holder'sadjustedtaxbasisintheSharessoldpursuanttotheOfferorexchangedforcashpursuanttotheMerger.GainorlosswillbedeterminedseparatelyforeachblockofShares(thatis,Sharesacquiredatthesamepricepershareinasingle

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transaction)tenderedpursuanttotheOfferorexchangedforcashpursuanttotheMerger.Suchgainorlossgenerallywillbecapitalgainorloss,andwillbelong-termcapitalgainorlossiftheU.S.holder'sholdingperiodforsuchSharesismorethanone(1)yearatthetimeofconsummationoftheOfferortheMerger,asthecasemaybe.Long-termcapitalgainsrecognizedbyanon-corporateU.S.holdergenerallywillbeeligibleforpreferentialUnitedStatesfederalincometaxrates.CertainlimitationsapplytothedeductibilityofaU.S.holder'scapitallosses.Inaddition,certainnon-corporateU.S.holdersmaybesubjecttoanadditional3.8%Medicaresurtaxonalloraportionoftheir"netinvestmentincome,"whichmayincludealloraportionofthegainrecognizedinconnectionwiththeOfferortheMerger.

InformationreportingwillapplytopaymentsmadetoaU.S.holderwhoseSharesarepurchasedintheOfferorexchangedforcashpursuanttotheMergerandthepaymentsmaybesubjecttobackupUnitedStatesfederalincometaxwithholding(currentlyatarateof28%),unlesscertaininformationisprovidedtotheDepositaryoranexemptionapplies.SeeSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase.Backupwithholdingisnotanadditionaltax.AnyamountswithheldunderthebackupwithholdingrulescanberefundedorcreditedagainstaU.S.holder'sUnitedStatesfederalincometaxliability,ifany,providedthatsuchU.S.holderfurnishestherequiredinformationtotheIRSinatimelymanner.

Non-U.S.Holders

Anygainorlossrecognizedbyanon-U.S.holderupontheexchangeofSharesforcashpursuanttotheOfferortheMergergenerallywillnotbesubjecttoUnitedStatesfederalincometaxunless:

• thegainis"effectivelyconnected"withatradeorbusinessofthenon-U.S.holderintheUnitedStates(and,ifrequiredbyanapplicableincometaxtreaty,isattributabletoaUnitedStatespermanentestablishmentofthenon-U.S.holder);

• thenon-U.S.holderisanindividualwhoispresentintheUnitedStatesforonehundredeighty-three(183)daysormoreinthetaxableyearofthatdispositionandcertainotherconditionsaremet;or

• ArcticCatisorhasbeena"UnitedStatesrealpropertyholdingcorporation"forUnitedStatesfederalincometaxpurposesatanytimeduringtheshorterof(i)thefive-yearperiodendingonthedateoftheconsummationoftheOfferortheMerger,asapplicable,and(ii)thenon-U.S.holder'sholdingperiodintheShares,andthenon-U.S.holderowned(directly,indirectlyorconstructively)morethan5%ofArcticCatCommonStockatanytimeduringtheapplicableperiod.Althoughtherecanbenoassurancesinthisregard,ArcticCatdoesnotbelievethatitis,was,orwillbecomea"UnitedStatesrealpropertyholdingcorporation"forU.S.federalincometaxpurposesatanytimeduringthefive-yearperiodprecedingtheOfferortheMerger,asapplicable.

Anon-U.S.holderdescribedinthefirstbulletpointabovewillbesubjecttoUnitedStatesfederalincometaxonsuchgaininthesamemannerasaU.S.holder.Inaddition,anon-U.S.holderthatisacorporationmaybesubjecttoabranchprofitstaxonsucheffectivelyconnectedgain.Anon-U.S.holderdescribedinthesecondbulletpointabovewillbesubjecttoUnitedStatesfederalincometaxatarateof30%(orareducedrateunderanapplicableincometaxtreaty)ontheamountbywhichcapitalgainsallocabletoUnitedStatessources(includinggainrecognizedupontheexchangeofShares)exceedcapitallossesallocabletoUnitedStatessources.

Informationreportingand,dependingonthecircumstances,backupwithholdingwillapplytothecashreceivedintheOfferortheMerger,unlessthebeneficialownercertifiesunderpenaltyofperjurythatitisanon-U.S.holder(andthepayerdoesnothaveactualknowledgeorreasontoknowthatthebeneficialownerisaUnitedStatespersonasdefinedundertheCode)orsuchownerotherwise

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establishesanexemption.SeeSection3—"ProceduresforAcceptingtheOfferandTenderingShares"ofthisOffertoPurchase.Backupwithholdingisnotanadditionaltaxandanyamountswithheldunderthebackupwithholdingrulesmayberefundedorcreditedagainstanon-U.S.holder'sUnitedStatesfederalincometaxliability,ifany,providedthattherequiredinformationistimelyprovidedtotheIRS.

Shareholders of Arctic Cat are urged to consult their tax advisor with respect to the specific tax consequences to them for participating in the Offer, theSubsequent Offering Period (if one is provided) and the Merger, including United States federal, state, local and foreign tax consequences.

6. Price Range of the Shares; Dividends

TheSharesaretradedontheNASDAQunderthesymbol"ACAT."Thefollowingtablesetsforth,fortheperiodsindicated,thehighandlowtradingpricesperShareontheNASDAQasreportedbypublishedfinancialsources:

AccordingtoitsAnnualReportonForm10-KforthefiscalyearendedMarch31,2016(the"ArcticCat201610-K")filedwiththeSEC,theArcticCatBoardconsidersArcticCat'scashpositionandprojectedcashneedsinregardstoArcticCat'sdividendpolicy.TheArcticCat201610-Kstatedthat,inJanuary2016,theArcticCatBoardvotedtosuspendArcticCat'squarterlycashdividendinordertopreservecashforcontinuedinvestmentinArcticCat'sgrowthinitiatives.Furthermore,theArcticCat201610-KstatedthatwhiletheArcticCatBoardhasdiscretiontoresumepaymentofcashdividendsatanytime,itdoesnotanticipatedeclaringorpayingcashdividendsonArcticCat'scommonstockintheforeseeablefuture.

ArcticCatdeclaredandpaidaggregatecashdividendsof$4.9millionand$6.5millioninfiscal2016and2015respectively.In2016,ArcticCatpaiddividendsof$1,635,000inthefirstquarter,$1,640,000inthesecondquarterand$1,642,000inthethirdquarter.In2015,ArcticCatpaiddividendsof$1,617,000inthefirstquarter,$1,624,000inthesecondquarter,$1,624,000inthethirdquarterand$1,635,000inthefourthquarter.

UnderthetermsoftheMergerAgreement,ArcticCatisnotpermittedtodeclare,setaside,makeorpaydividendswithrespecttotheShareswithouttheconsentofTextronexceptforcertainexceptionspermittedundertheMergerAgreement.Inaddition,undertheSecondAmendedandRestatedLoanandSecurityAgreement,datedasofNovember29,2016,amongArcticCat,certainsubsidiariesofArcticCat,BankofAmerica,N.A.,asAgent,andcertainlenderspartythereto,(the"ExistingCreditAgreement"),ArcticCatisrestrictedfromdeclaringorpayingdividendsifitsborrowingundertheExistingCreditAgreementexceedscertainthresholds.

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High Low Fiscal 2015 FourthQuarter $ 39.72 $ 26.00 Fiscal 2016 FirstQuarter $ 39.00 $ 30.75SecondQuarter 34.44 22.15ThirdQuarter 25.60 15.44FourthQuarter 19.82 8.90

Fiscal 2017 FirstQuarter $ 18.39 $ 12.91SecondQuarter 18.97 13.54ThirdQuarter 17.89 12.13FourthQuarter(throughJanuary31,2017) 19.60 12.78

OnJanuary24,2017,thelastfulldayoftradingpriortotheannouncementoftheexecutionoftheMergerAgreement,thereportedclosingpriceontheNASDAQfortheShareswas$13.09perShare.OnJanuary31,2017,thelatestpracticablefulldayoftradingpriortothecommencementoftheOffer,thereportedclosingpriceontheNASDAQfortheShareswas$18.80perShare.Shareholders of Arctic Cat are urged to obtain current market quotations for the Shares.

7. Possible Effects of the Offer on the Market for the Shares; NASDAQ Listing; Exchange Act Registration; Margin Regulations

Possible Effects of the Offer on the Market for the Shares. ThepurchaseofSharespursuanttotheOfferwillreducethenumberofSharesthatmightotherwisetradepublicly,willadverselyaffecttheliquidityofandcouldadverselyaffectthemarketvalueoftheremainingSharesheldbythepublic.ThepurchaseofSharespursuanttotheOfferalsocanbeexpectedtoreducethenumberofholdersofShares.TextronandPurchasercannotpredictwhetherthereductioninthenumberofSharesthatmightotherwisetradepubliclywouldhaveanadverseorbeneficialeffectonthemarketpriceforormarketabilityoftheSharesorwhetheritwouldcausefuturemarketpricestobegreaterorlessthantheOfferPrice.

NASDAQ Listing. DependingonthenumberofSharespurchasedpursuanttotheOffer,theSharesmayceasetomeettherequirementsforcontinuedlistingontheNASDAQ.AccordingtothepublishedguidelinesoftheNASDAQStockMarketLLC,asecuritymusthaveaminimumbidpriceof$1.00,theremustbeatleast400beneficialholdersand/orholdersofrecordandthesecuritymustmeetoneofthreemaintenancestandardsforcontinuedlistingontheNASDAQ.Thefirstmaintenancestandardrequiresthattherebeatleast$10millioninshareholders'equity,atleast750,000publiclyheldshares,amarketvalueofatleast$5millionforallpubliclyheldsharesandatleasttworegisteredandactivemarketmakersfortheshares.Thesecondmaintenancestandardrequiresthatthemarketvalueoflistedsecuritiesisatleast$50million,thereareatleast1.1millionpubliclyheldshareswithanaggregatemarketvalueofatleast$15millionandatleastfourregisteredandactivemarketmakersfortheshares.Thethirdmaintenancestandardrequiresthattheissuer'stotalassetsandtotalrevenueeachareatleast$50millionforthemostrecentlycompletedfiscalyearortwoofthethreemostrecentlycompletedfiscalyears,thereareatleast1.1millionpubliclyheldshareswithanaggregatemarketvalueofatleast$15millionandatleastfourregisteredandactivemarketmakersfortheshares.Shareshelddirectlyorindirectlybydirectors,officersorbeneficialownersofmorethan10%oftheSharesarenotconsideredtobepubliclyheldforthepurposeofthemaintenancestandards.

If,asaresultofthepurchaseofSharesintheOfferorotherwise,theSharesnolongermeettherequirementsoftheNASDAQforcontinuedlistingandthelistingoftheSharesisdiscontinued,themarketfortheSharescouldbeadverselyaffected.

Exchange Act Registration. TheSharescurrentlyareregisteredundertheExchangeAct.ThepurchaseoftheSharespursuanttotheOffermayresultintheSharesbecomingeligibleforderegistrationundertheExchangeAct.RegistrationoftheSharesmaybeterminateduponapplicationbyArcticCattotheSECiftheSharesarenotlistedona"nationalsecuritiesexchange"andtherearefewerthan300recordholdersofShares.TerminationofregistrationoftheSharesundertheExchangeActwouldreducetheinformationthatArcticCatisrequiredtofurnishtotheshareholdersofArcticCatandtheSECandwouldmakecertainprovisionsoftheExchangeAct,suchastheshort-swingprofitrecoveryprovisionsofSection16(b)oftheExchangeActandtherequirementsoffurnishingaproxystatementinconnectionwithshareholders'meetingspursuanttoSection14(a)or14(c)oftheExchangeActandtherelatedrequirementofanannualreport,nolongerapplicabletoArcticCat.IftheSharesceasetoberegisteredundertheExchangeAct,therequirementsofRule13e-3promulgatedundertheExchangeActwithrespectto"goingprivate"transactionswouldnolongerbeapplicabletoArcticCat.Inaddition,theabilityof"affiliates"ofArcticCatandpersonsholding"restrictedsecurities"ofArcticCattodisposeofthesecuritiespursuanttoRule144promulgatedunderthe

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SecuritiesActof1933,asamended,maybeimpairedor,withrespecttocertainpersons,eliminated.IfregistrationoftheSharesundertheExchangeActwereterminated,theShareswouldceasetobe"marginsecurities"and,asindicatedabove,maynolongerbeavailableforquotationontheNASDAQ.TextronandPurchaserbelievethatthepurchaseoftheSharespursuanttotheOffermayresultintheSharesbecomingeligibleforderegistrationundertheExchangeAct,anditisPurchaser'sintentiontocauseArcticCattomakeanapplicationforterminationofregistrationoftheSharesassoonaspossibleaftersuccessfulcompletionoftheOfferiftheSharesaretheneligiblefortermination.IfregistrationoftheSharesisnotterminatedpriortotheMerger,thenTextronandPurchaserintendtoterminatetheregistrationoftheSharesundertheExchangeActpromptlyfollowingtheconsummationoftheMerger.

Margin Regulations. TheSharesarecurrently"marginsecurities"undertheregulationsoftheBoardofGovernorsoftheFederalReserveSystem(the"FederalReserveBoard"),whichregulationshavetheeffect,amongotherthings,ofallowingbrokerstoextendcreditonthecollateraloftheSharesforthepurposeofbuying,carryingortradinginsecurities("PurposeLoans").DependinguponfactorssuchasthenumberofrecordholdersofSharesandthenumberandmarketvalueofpubliclyheldShares,followingthepurchaseofSharespursuanttotheOffer,theSharesmightnolongerconstitute"marginsecurities"forpurposesoftheFederalReserveBoard'smarginregulations,and,therefore,couldnolongerbeusedascollateralforPurposeLoansmadebybrokers.Inaddition,asindicatedabove,ifregistrationoftheSharesundertheExchangeActwereterminated,theShareswouldnolongerconstitutemarginsecurities.

8. Certain Information Concerning Arctic Cat

Exceptasotherwisesetforthherein,theinformationconcerningArcticCatcontainedinthisOffertoPurchasehasbeenfurnishedbyArcticCatoritsrepresentativesortakenfromorbaseduponpubliclyavailabledocumentsandrecordsonfilewiththeSECandotherpublicsources.NoneofTextron,Purchaseroranyoftheirrespectiveaffiliates,theInformationAgentortheDepositaryassumesanyresponsibilityfortheaccuracyoftheinformationconcerningArcticCatcontainedinsuchdocumentsandrecordsorforanyfailurebyArcticCattodiscloseeventswhichmayhaveoccurredormayaffectthesignificanceoraccuracyofanysuchinformationbutwhichareunknowntoTextron,Purchaseroranyoftheirrespectiveaffiliates,theInformationAgentortheDepositary.

General. ArcticCatisaMinnesotacorporationwithitsprincipalexecutiveofficeslocatedat500North3rdStreet,Minneapolis,Minnesota55401,anditstelephonenumberis(612)350-1800.ThefollowingdescriptionofArcticCatanditsbusinesshasbeentakenfromtheArcticCat201610-K,andisqualifiedinitsentiretybyreferencethereto.ArcticCatdesigns,engineers,manufacturesandmarketssnowmobiles,all-terrainvehiclesandrecreationaloff-highwayvehicles,aswellasrelatedparts,garmentsandaccessoriesundertheArcticCatandMotorFistbrandnames.ArcticCatmarketsitsproductsthroughanetworkofindependentdealerslocatedthroughouttheUnitedStates,Canada,andEuropeandthroughdistributorsrepresentingdealersinEurope,Russia,SouthAmerica,theMiddleEast,China,Asiaandotherinternationalmarkets.TheArcticCatbrandnamehasexistedformorethan50yearsandisamongthemostwidelyrecognizedandrespectednamesinthesnowmobile,all-terrainvehiclesandrecreationaloff-highwayvehiclesindustry.

Available Information. TheSharesareregisteredundertheExchangeAct.Accordingly,ArcticCatissubjecttotheinformationreportingrequirementsoftheExchangeActand,inaccordancetherewith,isrequiredtofileperiodicreports,proxystatementsandotherinformationwiththeSECrelatingtoitsbusiness,financialconditionandothermatters.Suchreports,proxystatementsorotherinformationmaybereadorcopiedattheSEC'spublicreferenceroomat100FStreet,N.E.,Washington,D.C.20549.PleasecalltheSECat1-800-SEC-0330forfurtherinformationonthepublicreferenceroom.Copiesofsuchinformationmaybeobtainablebymail,uponpaymentoftheSEC'scustomary

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charges,bywritingtotheSECattheaddressabove.TheSECalsomaintainsawebsiteontheInternetatwww.sec.gov thatcontainsreports,proxystatementsandotherinformationregardingregistrants,includingArcticCat,thatfileelectronicallywiththeSEC.

ShareholdersareencouragedtoreviewArcticCat'sSchedule14D-9carefullyandinitsentiretybeforedecidingwhethertotenderShares.

9. Certain Information Concerning Textron, Textron Specialized Vehicles and Purchaser

TextronisaDelawarecorporationwithitsprincipalexecutiveofficeslocatedat40WestminsterStreet,Providence,RhodeIsland02903anditstelephonenumberis(401)421-2800.Textronisamulti-industrycompanywith2016revenuesof$13.8billionthatleveragesitsglobalnetworkofaircraft,defense,industrialandfinancebusinessestoprovidecustomerswithinnovativeproductsandservicesaroundtheworld.Textronconductsitsbusinessthroughfiveoperatingsegments:TextronAviation,Bell,TextronSystems,IndustrialandFinance.Textron'ssharesarelistedontheNewYorkStockExchange.

TextronSpecializedVehiclesisaDelawarecorporationwithitsprincipalexecutiveofficeslocatedat1451MarvinGriffinRoad,Augusta,Georgia30906,anditstelephonenumberis(706)798-4311.TextronSpecializedVehiclesisadirectwhollyownedsubsidiaryofTextronwhichoperateswithinTextron'sIndustrialsegment.TextronSpecializedVehicles—whichincludestheE-Z-GO,TextronOffRoad,Jacobsen,Cushman,DixieChopper,Ransomes,TUGTechnologies,DouglasEquipment,PremierandSafeaerobusinessesandbrands—designs,manufacturesandsellsgolfcars,off-roadutilityvehicles,lighttransportationvehicles,aviationgroundsupportequipmentandprofessionalturf-maintenanceequipment,aswellasspecializedturf-carevehicles.

Purchaser'sprincipalexecutiveofficesarelocatedat1451MarvinGriffinRoad,Augusta,Georgia30906,anditstelephonenumberis(706)798-4311.PurchaserisanewlyformedMinnesotacorporationandadirectwhollyownedsubsidiaryofTextronSpecializedVehicles.PurchaserwasformedforthepurposeofmakingtheOfferandhasnotconducted,anddoesnotexpecttoconduct,anybusinessotherthaninconnectionwithitsorganization,theOfferandtheMerger.

Thename,businessaddressandbusinesstelephonenumber,citizenship,presentprincipaloccupationoremploymentandmaterialoccupations,positions,officesoremploymentheldduringthepastfive(5)yearsofeachdirectorandexecutiveofficerofTextron,TextronSpecializedVehiclesandPurchaseraresetforthinScheduleItothisOffertoPurchase.

NoneofTextron,TextronSpecializedVehicles,Purchaseroranymajority-ownedsubsidiaryofTextron,TextronSpecializedVehiclesorPurchaser,or,totheknowledgeofTextron,TextronSpecializedVehiclesandPurchaser,anyofthepersonslistedinScheduleItothisOffertoPurchaseoranyassociateofanyofthepersonssolisted,beneficiallyownsorhasarighttoacquireanySharesoranyotherequitysecuritiesofArcticCat,otherthan315Shares,orlessthan1%ofthetotalSharesoutstandingasofJanuary17,2017,beneficiallyownedbyJamesZiemer,amemberoftheTextronboardofdirectors.NoneofTextron,TextronSpecializedVehicles,Purchaseroranymajority-ownedsubsidiaryofTextron,TextronSpecializedVehiclesorPurchaser,or,totheknowledgeofTextron,TextronSpecializedVehiclesandPurchaser,anyofthepersonslistedinScheduleItothisOffertoPurchaseoranyassociateofanyofthepersonssolisted,haseffectedanytransactionintheSharesoranyotherequitysecuritiesofArcticCatduringthepastsixty(60)days.NoneofTextron,TextronSpecializedVehiclesorPurchaseror,totheknowledgeofTextron,TextronSpecializedVehiclesandPurchaser,anyofthepersonslistedinScheduleItothisOffertoPurchase,hasanycontract,arrangement,understandingorrelationshipwithanyotherpersonwithrespecttoanysecuritiesofArcticCat(including,butnotlimitedto,anycontract,arrangement,understandingorrelationshipconcerningthetransferorthevotingofanysuchsecurities,jointventures,loanoroptionarrangements,putsorcalls,guarantiesofloans,guarantiesagainstloss,orthegivingorwithholdingofproxies,consentsorauthorizations).ExceptasdescribedinthisOffertoPurchase,sinceFebruary2,

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2015,therehavebeennotransactionsthatwouldrequirereportingundertherulesandregulationsoftheSECamongTextron,TextronSpecializedVehicles,Purchaseroranyoftheirrespectivesubsidiariesor,totheknowledgeofTextron,TextronSpecializedVehiclesandPurchaser,anyofthepersonslistedinScheduleItothisOffertoPurchase,ontheonehand,andArcticCatoranyofitsexecutiveofficers,directorsoraffiliates,ontheotherhand.ExceptasdescribedinthisOffertoPurchase,sinceFebruary2,2015,therehavebeennocontacts,negotiationsortransactionsamongTextron,TextronSpecializedVehicles,Purchaseroranyoftheirrespectivesubsidiariesor,totheknowledgeofTextron,TextronSpecializedVehiclesandPurchaser,anyofthepersonslistedinScheduleItothisOffertoPurchase,ontheonehand,andArcticCatoranyofitssubsidiariesoraffiliates,ontheotherhand,concerningamerger,consolidationoracquisition,atenderofferorotheracquisitionofsecurities,anelectionofdirectorsorasaleorothertransferofamaterialamountofassets.

NoneofTextron,TextronSpecializedVehicles,PurchaseroranyofthepersonslistedinScheduleItothisOffertoPurchasehas,totheknowledgeofTextron,TextronSpecializedVehiclesorPurchaser,duringthepastfive(5)years,beenconvictedinacriminalproceeding(excludingtrafficviolationsorsimilarmisdemeanors).NoneofTextron,TextronSpecializedVehicles,PurchaseroranyofthepersonslistedinScheduleItothisOffertoPurchasehas,totheknowledgeofTextron,TextronSpecializedVehiclesorPurchaser,duringthepastfive(5)years,beenapartytoanyjudicialoradministrativeproceeding(exceptformattersthatweredismissedwithoutsanctionorsettlement)thatresultedinajudgment,decreeorfinalorderenjoiningthepersonfromfutureviolationsof,orprohibitingactivitiessubjectto,UnitedStatesfederalorstatesecuritieslaws,orafindingofanyviolationofUnitedStatesfederalorstatesecuritieslaws.

Available Information. PursuanttoRule14d-3undertheExchangeAct,Textron,TextronSpecializedVehiclesandPurchaserfiledwiththeSECaTenderOfferStatementonScheduleTO(the"ScheduleTO"),whichthisOffertoPurchaseformsapartthereof,andexhibitstotheScheduleTOandsuchdocumentsareavailabletothepublicovertheInternetattheSEC'swebsiteatwww.sec.gov.TheScheduleTOandtheexhibitsthereto,andsuchreportsorotherinformation,alsomaybereadorcopiedattheSEC'spublicreferenceroomat100FStreet,N.E.,Washington,D.C.20549.PleasecalltheSECat1-800-SEC-0330forfurtherinformationonthepublicreferenceroom.Thiswebsiteaddressisnotintendedtofunctionasahyperlink,andtheinformationcontainedontheSEC'swebsiteisnotincorporatedbyreferenceinthisOffertoPurchaseanditshouldnotbeconsideredtobeapartofthisOffertoPurchase.

10. Background of the Offer; Past Contacts or Negotiations with Arctic Cat

ThefollowingisadescriptionofthematerialcontactsbetweenrepresentativesofTextron,TextronSpecializedVehiclesorPurchaserwithrepresentativesofArcticCatthatresultedintheexecutionoftheMergerAgreementandtheOffer.ForareviewofArcticCat'sactivitiesrelatingtothesecontacts,pleaserefertoArcticCat'sSolicitation/RecommendationStatementonSchedule14D-9beingmailedtoshareholderswiththisOffertoPurchase.

Textron'smanagementteam,underthedirectionofitsboardofdirectors,regularlyevaluatesavarietyofstrategicobjectivesforTextron,includingproductdevelopmentandpotentialacquisitionsandcommercialtransactions.Inrecentyears,TextronhasincreaseditsfocusonthepowersportsindustrythroughacquisitionsandinvestmentinitsnewTextronOffRoadproductline.Infurtheranceofthisobjective,duringameetingoftheTextronboardofdirectorsonFebruary24,2016,ScottC.Donnelly,Chairman,PresidentandChiefExecutiveOfficerofTextron,presentedinformationconcerningapotentialacquisitionofArcticCatinordertoexpandTextron'spresenceinthepowersportsindustry.Followingsuchdiscussion,theTextronboardofdirectorsauthorizedTextron'smanagementtocontinuetomonitorArcticCatasapotentialtargetforanacquisitionanddeterminewhether,howandwhentoapproachArcticCat.

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InlateMay2016,Mr.DonnellycontactedChristopherT.Metz,PresidentandChiefExecutiveOfficerofArcticCat,toinformMr.MetzthatTextronwasincreasingitsinvestmentinthepowersportsmarketandwasinterestedinacquiringArcticCat.Mr.DonnellyandMr.Metzdidnotdiscusspriceorvaluationinconnectionwithapotentialacquisition.

InearlyJune2016,Mr.DonnellyandMr.MetzhadatelephonicconversationduringwhichMr.MetzstatedthathehaddiscussedTextron'sinterestinacquiringArcticCatwiththeArcticCatBoardandadvisedMr.DonnellythattheArcticCatBoarddidnotbelievethatitwastheappropriatetimeforittoengageindiscussionswithTextronwithregardtosuchatransaction.Inresponse,Mr.DonnellyconfirmedTextron'scontinuinginterestinacquiringArcticCat,butMr.Donnellydidnotindicateaspecificpriceorvaluationinconnectionwithapotentialacquisition.

OnJuly26,2016,duringameetingoftheTextronboardofdirectors,Mr.DonnellyprovidedanupdatetotheothermembersoftheTextronboardofdirectorsregardinghisdiscussionswithMr.MetzthathadoccurredsincetheFebruary24,2016Textronboardmeeting.Atthismeeting,Mr.DonnellyinformedtheothermembersoftheTextronboardofdirectorsthat,withtheboard'sconcurrence,heintendedtosubmittoMr.Metzawrittennon-bindingindicationofinterestproposinganacquisitionofArcticCatbyTextron,includingapreliminaryvaluation,subjectto,amongotherthings,duediligenceandthenegotiationofadefinitiveacquisitionagreement.TheTextronboardofdirectorsconcurredwithMr.Donnelly'sintentiontosubmitanon-bindingindicationofinteresttoacquireArcticCat.

OnAugust16,2016,Mr.DonnellyandMr.MetzhadatelephonicconversationduringwhichMr.DonnellyreiteratedTextron'sinterestinacquiringArcticCatandinformedMr.MetzthatTextronwouldbesubmittingawrittennon-bindingindicationofinterest,basedonArcticCat'spubliclyavailableinformation,proposinganacquisitionofArcticCatbyTextronatapurchasepriceof$20.00perShareincash,reflectinga27%premiumovertheclosingpriceofArcticCatcommonstockonAugust15,2016.Onthesameday,Mr.DonnellysentTextron'swrittennon-bindingindicationofinteresttoMr.Metz.

OnAugust30,2016,Mr.DonnellyandMr.MetzmetinMinneapolis,MinnesotatodiscussTextron'sstrategicinterestinapotentialacquisitionofArcticCat.

FollowingameetingofArcticCat'sboardofdirectorsonSeptember19,2016,Mr.MetzcalledMr.DonnellytolethimknowthatArcticCathasagreedtoengageinexploratoryduediligencebasedonTextron'snon-bindingindicationofinterest.

OnOctober6,2016,TextronandArcticCatenteredintoaconfidentialityagreementpursuanttowhichArcticCatwouldfurnishnon-publicinformationtoTextronsolelyforthepurposeofevaluatingandnegotiatingapotentialtransactionbetweenTextronandArcticCat.Theconfidentialityagreementcontaineda"standstill"infavorofArcticCat,whichgenerallyprohibitedTextronfrommakingpublicproposalstoacquireArcticCat,acquiringArcticCatsecuritiesortakingsimilaractions.

OnOctober11,2016,membersoftheseniormanagementofTextronattendedanin-personmanagementpresentationbyArcticCatinMinneapolis,Minnesota,whichpresentationincludedadiscussionofcertainfinancialforecastsofArcticCat.

Followingthismanagementpresentation,betweenOctober2016andJanuary2017,TextronperformedduediligenceonArcticCat,includingsubmittinganinitialduediligencerequestlisttoArcticCatonOctober13,2016,andholdingtelephonicdiscussionswithrepresentativesofArcticCat.Duringthistimeperiod,representativesofTextron,ChristopherJ.Eperjesy,ChiefFinancialOfficerofArcticCat,andrepresentativesofRobertW.Baird&Co.Incorporated("Baird")heldtelephonicmeetingstodiscussthefinancialforecastsofArcticCatinmoredetail.

OnDecember6,2016,theTextronboardofdirectorsreceivedanupdatefromMr.Donnellyregardingprogressto-dateonthepotentialacquisitionofArcticCatbyTextron.Followingsuch

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discussion,theTextronboardofdirectorsauthorizedMr.DonnellytocontinuediscussionswithArcticCatregardingapotentialacquisition.

OnDecember7,2016,Mr.DonnellyspokebytelephonewithMr.MetztoconfirmTextron'scontinuedinterestinacquiringArcticCatatapurchasepriceof$20.00perShareincash.

OnDecember16,2016,atthedirectionofArcticCat,arepresentativeofBairdheldatelephonicdiscussionwithMr.DonnellyduringwhichtherepresentativeofBairdinformedMr.DonnellythatArcticCatbelievedthatTextronneededtosubmitanimprovednon-bindingindicationofinterest,withahigherofferprice.

OnDecember22,2016,ArcticCatdisclosedtoTextronArcticCat'spreliminaryviewofitsfinancialresultsforthethirdquarterofthe2017fiscalyear.

OnDecember23,2016,Textrondeliveredarevisedwrittennon-bindingindicationofinteresttoacquireArcticCatforapurchasepriceof$21.00perShareincash,subjecttoduediligence.Thisletteralsoproposedcertainkeytermsandconditionsoftheproposedtransaction,includingaterminationfeeequalto4%oftheequityvalueofthetransaction,customarynon-solicitationprovisionswithacustomaryfiduciaryoutandcustomaryclosingconditions.Thenon-bindingindicationofinterestalsonotedthattheproposedtransactionwouldnotbesubjecttoanyfinancingcontingency.

DuringthelastweekofDecember2016,Textronand,atthedirectionoftheArcticCatBoard,BairdnegotiatedcertainofthekeytermsandconditionsinTextron'sDecember23,2016writtennon-bindingindicationofinterest,inparticularthenon-solicitationandfiduciaryoutprovisions,andagreedtolowertheterminationfeeto3%oftheequityvalueofthetransaction.OnJanuary1,2017,TextronprovidedArcticCatwithadrafttermsheetregardingnon-solicitationprovisionstobeincludedintheMergerAgreement.

OnDecember29,2016,TextrondeliveredtoArcticCataproposedagendaforamoredetailedmanagementpresentationandadetailedduediligencerequestlist.

OnJanuary9,2017,membersoftheseniormanagementofTextronanditsSpecializedVehiclesbusinessattendedanin-personmanagementpresentationbyArcticCatinMinneapolis,Minnesota,withrepresentativesofBairdpresent,duringwhichtherepresentativesofArcticCatprovidedTextron'srepresentativeswithadetailedoverviewofArcticCatandanupdateonrecentbusinessactivities.Inaddition,ontheafternoonofJanuary9andmorningofJanuary10,therewereseparatebreakoutsessionsoncertainfinancialandlegalduediligencetopics,includingadetaileddiscussionofArcticCat'sfinancialstatementsandforecastsaswellasongoinglitigationandregulatorymatters.OnJanuary10,representativesofTextronandrepresentativesofArcticCatvisitedArcticCat'soperatingfacilitiesinThiefRiverFallsandSt.Cloud.

FromJanuary10toJanuary16,2017,representativesofTextron,representativesofArcticCat,andrepresentativesofBairdcontinuedtoconductduediligencethroughfollowuptelephonicmeetingsandinformationexchangesonvariousfinancialandoperationalmatters.OnJanuary17,2017,representativesofArcticCatprovidedrepresentativesofTextronwithanupdateonArcticCat'sfiscalthirdquarter2017preliminaryresults,describingrevenueandearningsbelowArcticCat'sforecastprovidedtoTextrononDecember22,2016.

OnJanuary13,2017,Shearman&SterlingLLP("Shearman&Sterling"),legalcounseltoTextron,deliveredadraftoftheMergerAgreementtoFredrikson&Byron,P.A.("Fredrikson&Byron"),legalcounseltoArcticCat,andBaird.Fredrikson&ByronsentreviseddraftsoftheMergerAgreementtoShearman&SterlingonJanuary15and17,2017,reflectingArcticCat'scomments.DiscussionsandnegotiationsamongrepresentativesofTextronandShearman&SterlingandrepresentativesofArcticCatandFredrikson&ByroncontinueduntilthesigningoftheMergerAgreementinthelateafternoononJanuary24,2016,andrepresentativesofShearman&Sterlingandrepresentativesof

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Fredrikson&ByronexchangednumerousreviseddraftsoftheMergerAgreementandArcticCat'sdisclosureschedulesduringthistime.

OnJanuary19,2017,Mr.DonnellycontactedarepresentativeofBairdtoreiterateTextron'sinterestinacquiringArcticCatbutcommunicatingthatinlightofArcticCat'sfiscalthirdquarter2017preliminaryresults,Textronwasreducingitsofferfrom$21.00perShareincashto$18.00perShareincash,withnootherchangestomaterialtransactionterms.DiscussionsandnegotiationsbetweenrepresentativesofTextronand,atthedirectionoftheArcticCatBoard,representativesofBairdcontinuedonJanuary19and20,2017,resultinginanagreedofferpriceof$18.50perShareincash.

OnJanuary20,2017,theTextronboardofdirectorsmetviateleconferencewithcertainmembersofTextron'smanagement.Atthismeeting,Textron'smanagementprovidedtheTextronboardofdirectorswithanupdateontheproposedtransaction.Textron'smanagementreviewedthepotentialbenefitsoftheproposedtransactionandreportedonthestatusofnegotiationswithArcticCatandtheproposedfinaltermsoftheMergerAgreement.Atthismeeting,theTextronboardofdirectorsunanimously(i)approvedtheproposedacquisitionofArcticCatonsubstantiallytheterms,andsubjecttotheconditions,presentedtotheTextronboardofdirectors,(ii)approvedtheMergerAgreement,onsubstantiallythetermsdescribedtotheTextronboardofdirectors,(iii)approvedtheconsummationofthetransactionscontemplatedbytheMergerAgreement,and(iv)authorizedtheofficersofTextrontoexecutetheMergerAgreementwithsuchchanges,additions,modificationsandamendmentsthereto,astheofficerofTextronexecutinganddeliveringtheMergerAgreementshallapprove.

DuringthelateafternoononJanuary23,2017,ArcticCatcommunicatedtoBaird,whoatthedirectionofArcticCatnotifiedTextron,thattheArcticCatBoardhadunanimouslyapprovedthetransactionsubjecttofinalizingtheMergerAgreement.

DuringthelateafternoononJanuary24,2017,representativesofTextronandShearman&SterlingandFredrikson&ByronfinalizedthenegotiationoftheMergerAgreement,andTextronandArcticCatenteredintotheMergerAgreement.

TextronincludedtheannouncementoftheexecutionoftheMergerAgreementinitsfourthquarterearningsreleaseonJanuary25,2017,andArcticCatissuedapressreleaseannouncingtheexecutionoftheMergerAgreementonJanuary25,2017.

Contacts and Transactions with Arctic Cat

AsofthedateofthisOffertoPurchase,TextronandPurchaserhavenotenteredintoanyagreement,arrangementorunderstandingwithanymembersofArcticCatmanagementregardingemploymentorconsultancywiththeSurvivingCompany.TextronandPurchasermayseektoretaincertainmembersoftheArcticCatmanagementteamfollowingconsummationoftheOfferandtheMerger.Aspartoftheseretentionefforts,TextronandPurchasermayenterintoemploymentorconsultancy,compensation,retention,severanceorotheremployeeorconsultantbenefitarrangementswithArcticCatexecutiveofficersandotherkeyArcticCatemployees;however,therecanbenoassurancethatanypartieswillreachanagreement.Anysucharrangementswouldbesubjecttonegotiationanddiscussion,andnotermsorconditionshavebeendiscussed,agreeduponorfinalized.AnysuchnewarrangementswouldnotbecomeeffectiveuntiltheconsummationoftheMerger.SeeSection11—"PurposeoftheOffer;PlansforArcticCat;OtherMatters"ofthisOffertoPurchase.

11. Purpose of the Offer; Plans for Arctic Cat; Other Matters

(a)Purpose of the Offer. ThepurposeoftheOfferandtheMergeristoacquirecontrolof,andtheentireequityinterestin,ArcticCat.TheOffer,asthefirststepintheacquisitionofArcticCat,isintendedtofacilitatetheacquisitionofalloftheShares.ThepurposeoftheMergeristoacquireallcapitalstockofArcticCatnotpurchasedpursuanttotheOfferorotherwise.

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IfPurchaserpurchasesSharespursuanttotheOffer,TextronisentitledandcurrentlyintendstoexerciseitsrightsundertheMergerAgreementtoobtainproratarepresentationon,andcontrolof,theArcticCatBoard.SeeSection12—"MergerAgreement;OtherAgreements—ArcticCatBoardofDirectors."

(b)Plans for Arctic Cat. Exceptasotherwiseprovidedherein,itisexpectedthat,initiallyfollowingtheMerger,thebusinessandoperationsofArcticCatwillbecontinuedsubstantiallyastheyarecurrentlybeingconducted.FollowingtheMerger,ArcticCatwillbeawhollyownedsubsidiaryofTextronSpecializedVehiclesandanindirectwhollyownedsubsidiaryofTextron.TextronwillcontinuetoevaluatethebusinessandoperationsofArcticCatduringthependencyoftheOfferandaftertheconsummationoftheOfferandtheMergerandwilltakesuchactionsasitdeemsappropriateunderthecircumstancesthenexisting.Thereafter,TextronintendstoreviewsuchinformationaspartofacomprehensivereviewofArcticCat'sbusiness,operations,capitalizationandmanagementwithaviewtooptimizingdevelopmentofArcticCat'spotentialinconjunctionwiththeexistingbusinessesofTextron.AttheAcceptanceTime,TextronintendstopayoffanyoutstandingindebtednessundertheExistingCreditAgreement.

TheRestatedArticlesofIncorporationofArcticCatasineffectasofthedateoftheMergerAgreementwillbeamendedintheirentiretytoreadthesameasthearticlesofincorporationofPurchaserimmediatelypriortotheEffectiveTime,exceptthatthenameoftheSurvivingCompanywillbe"ArcticCatInc."andassoamendedwillbethearticlesofincorporationoftheSurvivingCompany.TheAmendedandRestatedBylawsofArcticCatasineffectasofthedateoftheMergerAgreementwillbeamendedintheirentiretytoreadthesameasthebylawsofPurchaserimmediatelypriortotheEffectiveTime,andassoamendedwillbethebylawsoftheSurvivingCompany.ThedirectorsofPurchaserimmediatelypriortotheEffectiveTimewill,fromandaftertheEffectiveTime,betheinitialdirectorsoftheSurvivingCompany.TheofficersofArcticCatimmediatelypriortotheEffectiveTime,fromandaftertheEffectiveTime,willbetheinitialofficersoftheSurvivingCompany.

(c)Shareholder Approval. UndertheMBCAandArcticCat'sorganizationaldocuments,theapprovaloftheArcticCatBoard(whichhasbeenobtained)isrequiredfortheadoptionoftheMergerAgreementandtheconsummationoftheMerger,andtheaffirmativevoteoftheholdersofamajorityoftheoutstandingShares,votingtogetherasasingleclass,isrequiredtoadoptandapprovetheMergerAgreementandtheMerger,unlessthe"short-form"mergerisavailable.ArcticCathasrepresentedintheMergerAgreementthattheexecutionanddeliveryoftheMergerAgreementbyArcticCatandtheconsummationbyArcticCatofthetransactionscontemplatedbytheMergerAgreementhavebeendulyandvalidlyauthorizedbyallnecessarycorporateactiononthepartofArcticCat,subjecttotheadoptionoftheMergerAgreementbytheaffirmativevoteoftheholdersofamajorityoftheoutstandingShares,ifrequiredinaccordancewiththeMBCAandArcticCat'sorganizationaldocuments.ArcticCathasfurtherrepresentedthattheapprovaldescribedintheprecedingsentenceistheonlyshareholdervoterequiredtoadopttheMergerAgreementandconsummatetheMerger.AfterPurchaseracceptsforpaymentSharesvalidlytenderedintheOfferandaftertheexpirationoftheSubsequentOfferingPeriod,ifPurchaserownslessthan90%oftheoutstandingSharesentitledtovoteontheadoptionoftheMergerAgreementandtheTopUpOptionisnotavailabletobeexercised,Textron,PurchaserandArcticCathaveagreedtoseektocompletetheMergerusinga"long-form"mergerstructureandArcticCathasagreed,ifnecessary,tosetarecorddatefor,callandgivenoticeofaspecialmeetingofitsshareholderstoconsiderandtakeactionupontheMergerAgreementandtoconveneandholdsuchmeeting.Thespecialmeetingwouldbeheldaspromptlyaspracticablethereafter.

(d)Dissenters' Rights. Dissenters'rightsarenotavailableinconnectionwiththeOffer,andshareholdersofArcticCatwhotenderSharesintheOfferwillnothavedissenters'rightsinconnectionwiththeMerger.IftheMergerisconsummated,ashareholderofArcticCatwhohasnottenderedhis,heroritsSharesintheOfferwillhavecertainrightsunderSections302A.471and302A.473ofthe

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MBCAtodissentfromtheMergerandobtainpaymentincashforthe"fairvalue"ofthatshareholder'sShares.Thoserights,ifthestatutoryproceduresarecompliedwith,couldleadtoajudicialdeterminationofthefairvalue(immediatelypriortotheEffectiveTime)requiredtobepaidincash,plusinterest,lessanyrequiredwithholdingtaxes,todissentingshareholdersofArcticCatfortheirShares.AnysuchjudicialdeterminationofthefairvalueoftheShareswouldnotnecessarilyincludeanyelementofvaluearisingfromtheaccomplishmentorexpectationoftheMergerandcouldbebaseduponconsiderationsotherthanorinadditiontotheconsiderationperSharetobepaidintheMergerandthemarketvalueoftheShares,includingassetvaluesandtheinvestmentvalueoftheShares.Moreover,ArcticCatmayargueinsuchajudicialproceedingthat,forpurposesofthatproceeding,thefairvalueoftheSharesislessthanthepriceperSharepaidpursuanttotheOfferortheconsiderationperSharepayableintheMerger,andthejudiciallydeterminedvaluecouldbemoreorlessthanthepriceperSharepaidpursuanttotheOfferortheconsiderationperSharepayableintheMerger.HoldersofSharesshouldnotethatinvestmentbankingopinionsastothefairness,fromafinancialpointofview,oftheconsiderationpayableinasaletransaction,suchasthetransactionscontemplatedbytheOfferandtheMerger,arenotopinionsasto,anddonotinanymanneraddress,fairvalueundertheMBCA.UnderSubdivision4ofSection302A.471oftheMBCA,acompanyshareholder'srightswithrespecttotheMergerarelimitedtothedissenters'rightsprovidedunderSections302A.471and302A.473oftheMBCA.Acompanyshareholderhasnoright,atlaworinequity,tosetasidetheapprovaloftheMergerortheconsummationoftheMerger,unlesstheadoptionorconsummationwasfraudulentwithrespecttothatshareholderorArcticCat.IfanydemandforfairvalueismadeofDissentingShares(asdefinedbelow)andtheTopUpOptionwasexercisedpriortotheEffectiveTime,thenforpurposesofdeterminingthefairvalueofanyDissentingShares,thecashreceivedand/orvalueofthepromissorynotereceivedbyArcticCatinpaymentoftheexercisepriceoftheTopUpOptionwillbetreatedasifithadnotbeenpaidtoorreceivedbyArcticCatandtheSharesissueduponexerciseoftheTopUpOptionwillbetreatedasiftheywerenotissuedoroutstanding.

AnySharesthatareissuedandoutstandingimmediatelypriortotheEffectiveTimeandthatareheldbyaholderwhohasnotvotedtheseSharesinfavoroftheMergerandwhohasproperlyexerciseddissenters'rightswithrespecttotheseSharesinaccordancewiththeMBCA(includingSections302A.471and302A.473thereof)and,asoftheEffectiveTime,hasneithereffectivelywithdrawnnorotherwiselostforanyreasontherighttoexercisethesedissenters'rights,willnotbeconvertedintoorrepresentarighttoreceivetheconsiderationpayableintheMerger.TheholdersofDissentingShareswillbeentitledtoonlythoserightsgrantedbySections302A.471and302A.473oftheMBCA.IfanyshareholderofArcticCatwhoassertsdissenters'rightswithrespecttothatshareholder'sSharesundertheMBCAeffectivelywithdrawsorotherwiselosesforanyreason(includingfailuretoperfect)thesedissenters'rights,thenasoftheEffectiveTimeortheoccurrenceofsuchevent,whicheverlateroccurs,theholder'sShareswillautomaticallybecanceledandconvertedintoandrepresentonlytherighttoreceivetheconsiderationpayableintheMerger,withoutinterestandlessanyrequiredwithholdingtaxes,uponsurrenderofthesharecertificateorsharecertificatesformerlyrepresentingtheDissentingShares.

The preservation and exercise of dissenters' rights requires strict adherence to the applicable provisions of the MBCA. Failure to fully and preciselyfollow the steps required by Sections 302A.471 and 302A.473 of the MBCA for the perfection of dissenters' rights will result in the loss of those rights. Theforegoing summary of the rights of dissenting shareholders under the MBCA is not a complete statement of the procedures to be followed by shareholdersdesiring to exercise any dissenters' rights available under the MBCA and is qualified in its entirety by reference to Sections 302A.471 and 302A.473 of theMBCA, which will be set forth in their entirety in the proxy statement to be filed by Arctic Cat related to the adoption of the Merger Agreement by theshareholders of Arctic Cat, unless the Merger is consummated as a "short-form" merger pursuant to Section 302A.621 of the MBCA, in which case they willbe set forth in the notice of merger.

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Dissenters' rights cannot be exercised at this time. The information set forth above is for informational purposes only with respect to alternativesavailable to shareholders if the Merger is consummated. Shareholders who will be entitled to dissenters' rights in connection with the Merger will receiveadditional information concerning dissenters' rights and the procedures to be followed before these shareholders have to take any action relating todissenters' rights.

EachShareoutstandingimmediatelypriortotheEffectiveTimeandheldofrecordorbeneficiallybyapersonwhohasnotvotedinfavorofapprovalandadoptionoftheMergerAgreementandwhoisentitledtodemandandproperlyexercisesdissenters'rightswithrespecttosuchShares("DissentingShares")willnotbeconvertedintotherighttoreceivetheMergerConsideration,andwillinsteadrepresenttherighttoreceivepaymentofthefairvalueofsuchDissentingSharesinaccordancewithandtotheextentprovidedbySections302A.471and302A.473.

Ifadissentingshareholderfailstoperfectorotherwisewaives,withdrawsorlosesitsrighttoadeterminationof"fairvalue"ofitsSharesunderSections302A.471and302A.473orotherapplicablelaw,thentherightofthatdissentingshareholdertobepaidthefairvalueofsuchDissentingShareswillceaseandsuchDissentingShareswillbedeemedtohavebeenconverted,asoftheEffectiveTime,intoandwillbeexchangeablesolelyfortherighttoreceivetheMergerConsideration,withoutinterest,uponsurrenderofsuchshareholder'sCertificatesorBook-EntryShares(asdefinedbelow)inthemannerprovidedintheMergerAgreement.

Withrespecttoanydemandfordissenters'rightsofSharesunderSections302A.471and302A.473:

• ArcticCatwillgivepromptnoticetoPurchaserofanydemandsfordissenters'rightsofanyShares,attemptedwithdrawalsofsuchdemandsandanyotherinstrumentsservedpursuanttotheMBCAreceivedbyArcticCatrelatingtorightstobepaidforthefairvalueofDissentingShares;

• ArcticCathasagreedtogivePurchasertherighttoparticipateinallnegotiationsandproceedingswithrespecttosuchdemandsfordissenters'rights;and

• priortotheEffectiveTime,ArcticCatwillnot,exceptwithPurchaser'spriorwrittenconsent,voluntarilymakeanypaymentwithrespectto,orsettleorcompromiseoroffertosettleorcompromise,anysuchdemands,orapproveanywithdrawalofsuchdemands,oragreetodoanyoftheforegoing.

(e)"Going Private" Transactions. TheSEChasadoptedRule13e-3promulgatedundertheExchangeAct("Rule13e-3"),whichisapplicabletocertain"goingprivate"transactionsandwhichmay,undercertaincircumstances,beapplicabletotheMerger.However,Rule13e-3wouldbeinapplicableif(i)theSharesarederegisteredundertheExchangeActpriortotheMergerorotherbusinesscombinationor(ii)theMergerorotherbusinesscombinationisconsummatedwithinone(1)yearafterthepurchaseoftheSharespursuanttotheOfferandtheamountpaidperShareintheMergerorotherbusinesscombinationisatleastequaltotheamountpaidperShareintheOffer.TextronandPurchaserbelievethatRule13e-3willnotbeapplicabletotheMergerbecauseitisanticipatedthattheMergerwillbeeffectedwithinone(1)yearfollowingtheconsummationoftheOfferand,intheMerger,theshareholdersofArcticCatwillreceivethesamepriceperShareaspaidintheOffer.Ifapplicable,Rule13e-3requires,amongotherthings,thatcertainfinancialinformationconcerningthefairnessoftheproposedtransactionandtheconsiderationofferedtominorityshareholdersinthetransactionbefiledwiththeSECanddisclosedtoshareholderspriortotheconsummationofthetransaction.

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12. Merger Agreement; Other Agreements

(a) Merger Agreement .

ThefollowingisasummaryofcertainprovisionsoftheMergerAgreement.ThissummarydoesnotpurporttobecompleteandisqualifiedinitsentiretybyreferencetotheMergerAgreementitself,whichPurchaserhasfiledasanexhibittothisScheduleTO.CopiesoftheMergerAgreementandthisScheduleTO,andanyotherfilingsthatTextronorPurchasermakeswiththeSECwithrespecttotheOfferortheMerger,maybeobtainedinthemannersetforthinSection9—"CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser"ofthisOffertoPurchase.ShareholdersofArcticCatandotherinterestedpartiesshouldreadtheMergerAgreementinitsentiretyforamorecompletedescriptionoftheprovisionssummarizedbelow.

TheMergerAgreementhasbeenprovidedsolelytoinforminvestorsofitsterms.ExceptforitsstatusasthecontractualdocumentthatestablishesandgovernsthelegalrelationsamongthepartieswithrespecttotheOfferandtheMerger,TextronandArcticCatdonotintendfortheMergerAgreementtobeasourceoffactual,businessoroperationalinformationaboutthecompanies.TheMergerAgreementcontainsrepresentationsandwarrantiesofthepartiesasofspecificdatesandmayhavebeenusedforpurposesofallocatingriskbetweenthepartiesratherthanestablishingmattersasfacts.ThoserepresentationsandwarrantiesweremadesolelyforthebenefitoftheotherpartiestotheMergerAgreementandarequalifiedinseveralimportantrespects,whichshouldbeconsideredbyshareholdersastheyreadthemintheMergerAgreement.TherepresentationsandwarrantiesarequalifiedintheirentiretybycertaininformationfiledbyArcticCatwiththeSECpriortothedateoftheMergerAgreement,aswellasbyconfidentialdisclosureschedulesthatArcticCatdeliveredtoTextronandPurchaserinconnectionwiththeexecutionoftheMergerAgreement,andarequalifiedbycontractualstandardsofmaterialitythatmaydifferfromwhatshareholdersconsidertobematerial.InformationconcerningthesubjectmatteroftherepresentationsandwarrantiesmayhavechangedsincethedateoftheMergerAgreement.Fortheforegoingreasons,shareholdersandotherinvestorsshouldnotrelyontherepresentationsandwarrantiescontainedintheMergerAgreementasaccuratestatementsasofthedateoftheMergerAgreementoranyotherdate.

CapitalizedtermsusedinthisSection12(a)—"MergerAgreement"ofthisOffertoPurchaseandnototherwisedefinedhavetherespectivemeaningsassignedtheretointheMergerAgreement.

The Offer

TheMergerAgreementprovidesthatPurchaserwillcommencetheOfferaspromptlyaspracticable(andinanyeventonorpriortoFebruary7,2017)aftertheexecutionoftheMergerAgreement,andthat,subjecttothesatisfactionoftheMinimumConditionandtheotherconditionsthataredescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchase,PurchaserwillacceptforpaymentandpayforallSharesvalidlytenderedandnotproperlywithdrawnintheOfferpromptlyafterPurchaserislegallypermittedtodosounderapplicablelawinaccordancewiththeExchangeAct.TextronandPurchaserexpresslyreservetherighttowaive(wherepermittedbyapplicablelaw),intheirsolediscretion,inwholeorinpart,anyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchase,toincreasetheOfferPriceortomakeanyotherchangesinthetermsandconditionsoftheOffer,exceptthat,unlessotherwisecontemplatedbytheMergerAgreementoraspreviouslyapprovedbyArcticCatinwriting,Purchaserisnotpermittedto(i)decreasetheOfferPrice,(ii)changetheformofconsiderationpayableintheOffer,(iii)reducethemaximumnumberofSharessoughttobepurchasedintheOffer,(iv)amendorwaivetheMinimumCondition,(v)amendanyoftheotherconditionsandrequirementstotheOffersetforthinSection15—"ConditionsoftheOffer"inamannermateriallyadversetotheholdersofSharesor(vi)extendtheExpirationDateinamannerotherthaninaccordancewiththeMergerAgreement.

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TheMergerAgreementprovidesthatPurchaser:

• willextendtheOfferforanyperiodorperiodsrequiredbyapplicablelaworapplicablerules,regulations,interpretationsorpositionsoftheSECoritsstaff,aswellasanyoftherulesandregulations,includinglistingstandards,ofNASDAQoranyotherUnitedStatesnationalsecuritiesexchangeregisteredundertheExchangeActonwhichtheapplicablecommonstockisthentraded;and

• unlesstheOfferisterminatedinaccordancewiththeMergerAgreement,intheeventthatanyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasearenotsatisfiedor,wherepermittedbyapplicablelaw,waivedasofanythenscheduledExpirationDate,Purchasermay,initssolediscretion,extendtheOfferforsuccessiveextensionperiodsofnotmorethantwenty(20)businessdayseachinordertopermitthesatisfactionoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchase.

TheMergerAgreementfurtherprovidesthat,unlesstheOfferisterminatedinaccordancewiththeMergerAgreement,intheeventthatanyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasearenotsatisfiedor,wherepermittedbyapplicablelaw,waivedbyPurchaserorTextronasofanythenscheduledExpirationDate,andtheArcticCatBoardhasnoteffectedanAdverseRecommendationChange(asdefinedbelow),ArcticCatmay,initssolediscretionandbywrittennoticeatleasttwo(2)businessdayspriortothethenscheduledExpirationDate,requestthatPurchaserextendtheOfferforoneperiodoften(10)businessdaysuntilalloftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchasearesatisfiedor,wherepermittedbyapplicablelaw,validlywaivedbyPurchaserorTextron.

InnoeventwillPurchaserberequiredtoextendtheOfferbeyondtheearliertooccurof(a)thedatetheMergerAgreementisterminatedinaccordancewithitstermsor(b)May24,2017.Theforegoingparagraphswillnotbedeemedtoimpair,limitorotherwiserestrictinanymannerTextron'srightstoterminatetheMergerAgreementinaccordancewithitsterms.

AfteracceptanceforpaymentofSharesintheOffer,ifTextronandPurchaser,directlyorindirectly,donothold,intheaggregate,atleast90%oftheoutstandingSharessoastopermitPurchasertoconsummatetheMergerasa"short-form"mergerpursuanttoSection302A.621oftheMBCA,thenPurchaserwillprovidetheSubsequentOfferingPeriodinaccordancewithRule14d-11undertheExchangeActofnotlessthanthree(3)normorethantwenty(20)businessdaysasdeterminedinthesolediscretionofTextronorPurchaser.SubjecttothetermsandconditionsoftheMergerAgreementandtheOffer,PurchaserwillimmediatelyacceptforpaymentandpayforallSharesvalidlytenderedintheOfferduringanysuchSubsequentOfferingPeriodandsuchSharescannotbewithdrawn.TextronwillprovideorcausetobeprovidedtoPurchaserthefundsnecessarytopayforanySharesthatPurchaserbecomesobligatedtopurchasepursuanttotheOffer.IfPurchaserexercisestheTopUpOption(asdescribedbelow),itwillnotberequiredtoprovidefortheSubsequentOfferingPeriod.

PurchaserwillnotterminateorwithdrawtheOfferpriortoanyscheduledExpirationDatewithoutthepriorwrittenconsentofArcticCat,exceptiftheMergerAgreementhasbeenterminatedpursuanttoitsterms.IftheMergerAgreementisterminatedpursuanttoitsterms,thenPurchaserisrequiredtopromptly(andinanyeventwithinforty-eight(48)hoursofsuchtermination),irrevocablyandunconditionallyterminatetheOffer.IftheOfferisterminatedorwithdrawnbyPurchaser,ortheMergerAgreementisterminatedpursuanttoitstermspriortothepurchaseofSharesintheOffer,PurchaserwillpromptlyreturnandwillcauseanydepositaryactingonbehalfofPurchasertoreturn,inaccordancewithapplicablelaw,alltenderedSharestotheregisteredholdersthereof.

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TextronandPurchaserwilltimelyfilewiththeCommissionerofCommerceoftheStateofMinnesotaanyregistrationstatementrelatingtothetransactionscontemplatedbytheMergerAgreementrequiredtobefiledpursuanttoChapter80BoftheMinnesotaStatutesandwilldisseminatetotheholdersofSharesviathisOffertoPurchaseandtheotherdocumentsrelatedtheretotheinformationsetforthinanysuchregistrationstatementtotheextentandwithinthetimeperiodrequiredbyChapter80BoftheMinnesotaStatutes.

Arctic Cat Board of Directors

PursuanttotheMergerAgreement,effectiveimmediatelyaftertheAcceptanceTime,andatalltimesthereafter,subjecttocompliancewiththeprovisionsoftheRestatedArticlesofIncorporationofArcticCat,theAmendedandRestatedBylawsofArcticCat,applicablelawandtheListingRulesoftheNASDAQ,Textronwillbeentitledtoelectordesignatesuchnumberofdirectors,roundeduptothenextwholenumber,ontheArcticCatBoardasisequaltotheproductofthetotalnumberofdirectorsontheArcticCatBoard(givingeffecttothedirectorselectedordesignatedbyTextronpursuanttothissentence)multipliedbythepercentagethattheaggregatenumberofSharesbeneficiallyownedbyTextron,PurchaseroranyoftheirrespectiveaffiliatesbearstothetotalnumberofSharesthenoutstanding.TextronwillbeentitledtodesignateatleastamajorityofthedirectorsontheArcticCatBoardaslongasTextron,PurchaserandtheiraffiliatesbeneficiallyownamajorityoftheoutstandingShares.ArcticCathasagreedtotakeallactionsasarenecessarytoenableTextron'sdesigneestobeelectedordesignatedtotheArcticCatBoard,includingincreasingthesizeoftheArcticCatBoardandseekingandacceptingtheresignationsofitsincumbentdirectors.PriortotheEffectiveTime,notwithstandingtheaboveobligationswithrespecttoTextron'sdesignees,theArcticCatBoardwillalwayshaveatleasttwo(2)memberswhoarenotofficers,directors,employeesordesigneesofTextronorPurchaseroranyoftheiraffiliates("PurchaserInsiders").IfthenumberofdirectorswhoarenotPurchaserInsidersisreducedbelowtwo(2)priortotheEffectiveTime,theremainingdirectorwhoisnotaPurchaserInsiderwillbeentitledtodesignateapersontofillsuchvacancywhoisnotaPurchaserInsiderandwhowillbeadirectornotdeemedtobeaPurchaserInsiderforallpurposesoftheMergerAgreement,andArcticCatwillcausesuchdesigneetobeappointedtotheArcticCatBoard.IfthenumberofdirectorswhoarenotPurchaserInsidersisreducedtozero,thentheotherdirectorsontheArcticCatBoardwilldesignateandappointtotheArcticCatBoardtwo(2)directorswhoarenotofficers,directors,employeesorotherwiseaffiliatedwithTextronorPurchaser(otherthanasaresultofsuchdesignation).ArcticCatwillalsouseitsreasonablebesteffortstocauseindividualsdesignatedbyTextrontoconstitutethesamepercentageaspersonsdesignatedbyTextronontheArcticCatBoardof(i)eachcommitteeoftheArcticCatBoard,(ii)eachboardofdirectors(orothersimilarbody)ofeachsubsidiaryofArcticCatand(iii)eachcommitteeofeachsuchboard,ineachcaseonlytotheextentpermittedbyapplicablelaw.

AfterTextron'sdesigneesareelectedorappointedtotheArcticCatBoardandpriortotheEffectiveTime,theapprovalofamajorityofthedirectorsofArcticCattheninofficewhoarenotPurchaserInsiders(ortheapprovalordirectionofthesoledirectoriftherewillonlybeone(1)directortheninofficewhoisnotaPurchaserInsider)isrequired,andsuchapprovalwillconstitutetheauthorizationoftheArcticCatBoardandnootheractiononthepartofArcticCat,includinganyactionbyanyotherdirectorofArcticCat,willberequiredtoauthorizeanysuchaction,forArcticCatto:

• amendorterminatetheMergerAgreement;

• extendthetimeforperformanceofanyobligationoractionbyTextronorPurchaserundertheMergerAgreement;or

• waiveorenforceanyofArcticCat'srightsoranyoftheobligationsofTextronorPurchaserundertheMergerAgreement.

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Top Up Option

ArcticCatgrantedtoPurchasertheTopUpOption,exercisableonlyaftertheAcceptanceTime,topurchase,atapricepershareequaltotheOfferPrice,anaggregatenumberofShares(the"TopUpOptionShares")equaltothelowestnumberofSharesthat,whenaddedtothenumberofSharesowned,directlyorindirectly,byPurchaserandTextron,intheaggregate,atthetimeofsuchexercise,willconstituteoneSharemorethan90%oftheFullyDilutedShares(aftergivingeffecttotheissuanceoftheTopUpOptionShares).TheTopUpOptionisnotexercisableunless,immediatelyaftersuchexerciseandtheissuanceoftheTopUpOptionShares,TextronandPurchaserwouldthen,directlyorindirectly,hold,intheaggregate,atleast90%oftheoutstandingShares.TheTopUpOptionisalsonotexercisableforanumberofSharesinexcessofArcticCat'stotalauthorizedandunissuedShares.TheTopUpOptionwillbeexercisableonce,tothefullnumberoftheTopUpOptionSharesthenpurchasableundertheTopUpOptiontoreachoneSharemorethan90%oftheFullyDilutedShares.

PurchaserisrequiredtopaytheTopUpConsideration.TheTopUpConsiderationwillconsistof(i)anamountequaltotheparvalueoftheSharesissuedpursuanttotheTopUpOptionpayableincashand(ii)anamountequaltothebalanceoftheTopUpConsiderationpayablebycashorissuanceofapromissorynoteofPurchaseror,atPurchaser'selection,anycombinationofcashandapromissorynote.AnysuchpromissorynoteissuedbyPurchaser(i)willbearinterestattherateperannumequaltotheshort-termapplicablefederalrateonthedateofexecutionanddeliveryofsuchpromissorynote,payableinarrearsatmaturity,(ii)willmatureonthefirstanniversaryofthedateofexecutionanddeliveryofsuchpromissorynote,(iii)maybeprepaidwithoutpremiumorpenaltyand(iv)willhavenoothermaterialterms.TheArcticCatBoardhasdeterminedthattheTopUpConsiderationfortheTopUpOptionSharesisadequateinaccordancewiththeMBCAandhasotherwisetakenallstepsnecessarysuchthat,uponissuanceanddelivery,theTopUpOptionShareswillbevalidlyissued,fullypaidandnon-assessable.

IfanydemandforfairvalueismadeofDissentingSharesandtheTopUpOptionwasexercisedpriortotheEffectiveTime,thenforpurposesofdeterminingthefairvalueofanyDissentingShares,thecashreceivedand/orvalueofthepromissorynotereceivedbyArcticCatinpaymentoftheexercisepriceoftheTopUpOptionwillbetreatedasifithadnotbeenpaidtoorreceivedbyArcticCat,andtheSharesissueduponexerciseoftheTopUpOptionwillbetreatedasiftheywerenotissuedoroutstanding.

Closing of the Merger

UnlesstheMergerAgreementisterminatedpriortosuchtimeinaccordancewithitsterms,theclosingoftheMerger(the"MergerClosing")willoccuronthethirdbusinessdayfollowingthedayonwhichthesatisfactionor,totheextentpermittedbyapplicablelaw,waiverofalloftheconditionssetforthintheMergerAgreement(otherthanconditionsthatbytheirnaturearetobesatisfiedattheMergerClosing,butsubjecttothesatisfactionor,totheextentpermittedbyapplicablelaw,waiverofthoseconditions)occursorsuchotherdateasthepartiesmaymutuallyagree.

ConcurrentlywiththeMergerClosing,TextronandArcticCatwillcausethearticlesofmergertobefiledwiththeSecretaryofStateoftheStateofMinnesota.TheMergerwillbecomeeffectiveatthetimethearticlesofmergerhasbeensofiledoratanothertimeasisagreedbythepartiesandspecifiedinthearticlesofmergerinaccordancewiththerelevantprovisionsoftheMBCA.OnthetermsandsubjecttotheconditionsoftheMergerAgreement,andinaccordancewiththeMBCA,attheEffectiveTime,(i)PurchaserwillbemergedwithandintoArcticCatandtheseparatecorporateexistenceofPurchaserwillcease,(ii)ArcticCatwillsurvivetheMergerastheSurvivingCompanyandanindirectwhollyownedsubsidiaryofTextronandwillcontinuetobegovernedbytheMBCA,and(iii)theseparatecorporateexistenceofArcticCatwithallitsrights,privileges,immunities,powersand

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franchiseswillcontinueunaffectedbytheMerger,andalloftheirdebts,liabilitiesanddutieswillbecomedebts,liabilitiesanddutiesoftheSurvivingCompany.

Governing Documents, Directors and Officers Following the Merger

AttheEffectiveTime,theRestatedArticlesofIncorporationofArcticCatasineffectasofthedateoftheMergerAgreementwillbeamendedintheirentiretytoreadthesameasthearticlesofincorporationofPurchaserimmediatelypriortotheEffectiveTime,exceptthatthenameoftheSurvivingCompanywillbe"ArcticCatInc."andassoamendedwillbethearticlesofincorporationoftheSurvivingCompany.TheAmendedandRestatedBylawsofArcticCatasineffectasofthedateoftheMergerAgreementwillbeamendedintheirentiretytoreadthesameasthebylawsofPurchaserimmediatelypriortotheEffectiveTime,andassoamendedwillbethebylawsoftheSurvivingCompany.ThedirectorsofPurchaserimmediatelypriortotheEffectiveTimewill,fromandaftertheEffectiveTime,betheinitialdirectorsoftheSurvivingCompany.TheofficersofArcticCatimmediatelypriortotheEffectiveTime,fromandaftertheEffectiveTime,willbetheinitialofficersoftheSurvivingCompany.

Meeting of Shareholders to Approve the Merger

IfapprovaloftheshareholdersofArcticCatisrequiredundertheMBCAtoconsummatetheMerger,ArcticCatwill:

• aspromptlyaspracticablefollowingtheAcceptanceTimeandtheexpirationoftheSubsequentOfferingPeriodprovidedbyPurchaser,ifapplicable,andinanyeventwithinten(10)businessdaysfollowingtheAcceptanceTimeortheexpirationoftheSubsequentOfferingPeriod,asapplicable,prepareandfilewiththeSECaproxyorinformationstatementforaspecialmeetingofitsshareholdersforpurposesofconsideringandtakingactionupontheMergerAgreementandtheMerger(the"SpecialMeeting"),providedthatTextron,PurchaserandtheircounselwillbegivenareasonableopportunitytoreviewandcommentonthepreliminaryproxystatementbeforeitsfilingwiththeSECandArcticCatwillgivedueconsiderationtothereasonableadditions,deletionsorchangessuggestedbyTextron,PurchaserandtheircounseltotheproxystatementwiththeintentionthattheproxystatementbeinaformreadytoprintandmailtotheshareholdersofArcticCataspromptlyaspracticablefollowingtheProxyStatementClearanceDate(asdefinedbelow);

• notifyTextronofthereceiptofanycommentsoftheSECwithrespecttotheproxystatementandofanyrequestsbytheSECforanyamendmentorsupplementtheretoorforadditionalinformation;

• providetoTextronpromptlycopiesofallwrittencorrespondenceortelephonicnoticeoforalcommunicationsbetweenArcticCatoranyofitsrepresentativesandtheSECoritsstaffwithrespecttotheproxystatement;and

• giveTextronanditscounselareasonableopportunitytoreviewandcommentonallresponsestorequestsforadditionalinformationandrepliestocommentspriortotheirbeingfiledwith,orsentto,theSEC.

ArcticCatwillincludeintheproxystatementtherecommendationoftheArcticCatBoardthattheshareholdersofArcticCatvoteinfavoroftheapprovalandadoptionoftheMergerAgreementinaccordancewiththeMBCA.

EachpartytotheMergerAgreementwilluseitsreasonablebestefforts,afterconsultationwiththeotherparties,torespondpromptlytoallsuchcommentsof,andrequestsby,theSECoritsstaff.ArcticCat,ontheonehand,andTextronandPurchaser,ontheotherhand,agreetopromptlycorrectanyinformationprovidedbysuchpartyforuseintheproxystatement,ifandtotheextentthatitwill

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havebecomefalseormisleadinginanymaterialrespectorasotherwiserequiredbyapplicablelaw,andArcticCatagreestopromptlycausetheproxystatement,assocorrected,tobefiledwiththeSECand,ifanysuchcorrectionismadefollowingthemailingoftheproxystatement,mailedtoholdersofShares,ineachcaseasandtotheextentrequiredbytheExchangeActand/ortheMBCA.

ArcticCat,actingthrough(oruponauthorizationby)theArcticCatBoard(oracommitteethereof),will,inaccordancewithandsubjecttotherequirementsoftheRestatedArticlesofIncorporationofArcticCat,theAmendedandRestatedBylawsofArcticCatandapplicablelaw:

• aspromptlyaspracticablefollowingtheAcceptanceTimeandtheexpirationoftheSubsequentOfferingPeriodprovidedbyPurchaser,ifapplicable,(i)dulysetarecorddatefor,callandgivenoticeoftheSpecialMeeting(withtherecorddateandmeetingdatesetinconsultationwithPurchaser)forthepurposeofconsideringandtakingactionupontheMergerAgreementand(ii)conveneandholdtheSpecialMeeting;

• causethedefinitiveproxystatementtobeprintedandmailedtotheshareholdersofArcticCat;and

• usecommerciallyreasonableeffortstosecureanyapprovalbytheshareholdersofArcticCatthatisrequiredbytheRestatedArticlesofIncorporationofArcticCat,theAmendedandRestatedBylawsofArcticCatandtheMBCAandanyotherapplicablelawtoeffecttheMerger.

Textronwillvote,orcausetobevoted,attheSpecialMeetingoranypostponementoradjournmentthereof,orpursuanttoawrittenconsentinlieuofameeting,alloftheSharesthenownedbyit,PurchaseroranyofTextron'saffiliatesinfavoroftheapprovalandadoptionoftheMergerAgreement.

"ProxyStatementClearanceDate"meanstheearlierof(i)thedateonwhichArcticCatlearns,orallyorinwriting,thattheproxystatementwillnotbereviewedbytheSEC,includingthefirstbusinessdaythatisatleastten(10)calendardaysafterthefilingofthepreliminaryproxystatementiftheSEChasnotinformedArcticCatthatitintendstoreviewtheproxystatement,and(ii)intheeventthatArcticCatreceivescommentsfromtheSEConthepreliminaryproxystatement,thefirstbusinessdayimmediatelyfollowingthedateArcticCatlearns,orallyorinwriting,thattheSECstaffhasnofurthercommentsonthepreliminaryproxystatement.

Merger Without Meeting of Shareholders

IfaftertheAcceptanceTimeand,ifapplicable,theexpirationoftheSubsequentOfferingPeriodortheexerciseoftheTopUpOption,TextronandPurchaser,directlyorindirectly,hold,intheaggregate,atleast90%oftheoutstandingShares,ArcticCat,TextronandPurchaserwilltakeallnecessaryandappropriateactiontocausetheMergertobecomeeffectiveaspromptlyaspracticablewithoutameetingoftheshareholdersofArcticCatinaccordancewithSection302A.621oftheMBCA.

Merger Consideration to Arctic Cat Shareholders

AttheEffectiveTime,eachShareissuedandoutstandingimmediatelypriortotheEffectiveTime(otherthancanceledShares,asdescribedbelow,orDissentingShares(collectively,the"ExcludedShares"))willbecanceledandautomaticallyconvertedintotherighttoreceivetheMergerConsideration,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.EachShareownedbyanydirectorindirectwhollyownedsubsidiaryofArcticCat(ifany)andeachShareownedbyTextron,PurchaseroranydirectorindirectwhollyownedsubsidiaryofTextronimmediatelypriortotheEffectiveTimewillautomaticallybecanceledwithoutanyconversionthereofandnopaymentordistributionwillbemadewithrespectthereto.Until

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surrenderedinaccordancewiththeMergerAgreement,uncertificatedSharesrepresentedbybook-entryform("Book-EntryShares")andeachCertificatewillthereafterrepresentonlytherighttoreceive,uponsuchsurrender,theMergerConsiderationtowhichtheholderthereofisentitledpursuanttotheMergerAgreement.NointerestshallbepaidorwillaccrueonanycashpayabletoholdersofCertificatesorBook-EntryShares.

Treatment of Arctic Cat Options

AttheEffectiveTime,eachoutstandingoption(each,an"ArcticCatOption")topurchaseSharesgrantedunderArcticCat's2002StockPlan,2007OmnibusStockandIncentivePlanand2013OmnibusStockandIncentivePlan(the"CompanyStockPlans")thatisoutstandingandunexercisedasofimmediatelypriortotheEffectiveTime,whetherornotvestedorexercisable,willbecomefullyvestedandexercisableimmediatelypriortotheEffectiveTime.EachArcticCatOptionthatisoutstandingandunexercisedasoftheEffectiveTimeandhasanexercisepriceperSharethatislessthantheMergerConsiderationwillbecanceledeffectiveasoftheEffectiveTimeandconvertedintotherighttoreceive,followingtheEffectiveTime,anamountincash,withoutinterest,equaltotheproductof(i)theamountbywhichtheMergerConsiderationexceedstheapplicableexercisepriceperShareofsuchArcticCatOptionand(ii)theaggregatenumberofSharesissuableuponexerciseofsuchArcticCatOption.Allsuchpaymentswillbemadenolaterthanthelateroffifteen(15)calendardaysfollowingtheMergerClosingandthefirstbusinessdayonwhichtheSurvivingCompanypayspayrolltoserviceprovidersfollowingtheMergerClosingandwillbesubjecttoallapplicablefederal,stateandlocaltaxwithholdingrequirements.EachArcticCatOptionthatisoutstandingandunexercisedasoftheEffectiveTimeandhasanexercisepriceperSharethatisgreaterthantheMergerConsiderationwillbecanceledeffectiveasoftheEffectiveTimewithoutthepaymentofconsideration.

Treatment of Arctic Cat Stock Appreciation Rights

EachstockappreciationrightrepresentingtherighttoreceiveapaymentincashorSharesofArcticCat(each,an"ArcticCatStockAppreciationRight")grantedundertheCompanyStockPlansthatisoutstandingasofimmediatelypriortotheEffectiveTimewillbecomefullyvestedimmediatelypriortotheEffectiveTime.EachArcticCatStockAppreciationRightthatisoutstandingandunexercisedasoftheEffectiveTimeandhasanexercisepriceperSharethatislessthantheMergerConsiderationwillbecanceledeffectiveasoftheEffectiveTimeandconvertedintotherighttoreceive,followingtheEffectiveTime,anamountincash,withoutinterest,equaltotheproductof(i)theamountbywhichtheMergerConsiderationexceedstheapplicableexercisepriceperShareofsuchArcticCatStockAppreciationRightand(ii)theaggregatenumberofSharessubjecttosuchArcticCatStockAppreciationRight.Allsuchpaymentswillbemadenolaterthanthelateroffifteen(15)calendardaysfollowingtheMergerClosingandthefirstbusinessdayonwhichtheSurvivingCompanypayspayrolltoserviceprovidersfollowingtheMergerClosingandwillbesubjecttoallapplicablefederal,stateandlocaltaxwithholdingrequirements.EachArcticCatStockAppreciationRightthatisoutstandingandunexercisedasoftheEffectiveTimeandhasanexercisepriceperSharethatisgreaterthantheMergerConsiderationwillbecanceledeffectiveasoftheEffectiveTimewithoutthepaymentofconsideration.

Treatment of Arctic Cat Restricted Stock Units

Eachrestrictedstockunit(each,an"ArcticCatRSU")grantedundertheCompanyStockPlansandoutstandingasofimmediatelypriortotheEffectiveTimewillbecomefullyvestedasoftheEffectiveTime.EachArcticCatRSUthatisoutstandingasoftheEffectiveTimewillbecanceledeffectiveasoftheEffectiveTimeandconvertedintotherighttoreceive,followingtheEffectiveTime,anamountincash,withoutinterest,equaltotheproductof(i)theMergerConsiderationand(ii)the

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aggregatenumberofSharessubjecttosuchArcticCatRSUaward.Allsuchpaymentswillbemadenolaterthanthelateroffifteen(15)calendardaysfollowingtheMergerClosingandthefirstbusinessdayonwhichtheSurvivingCompanypayspayrolltoserviceprovidersfollowingtheMergerClosingandwillbesubjecttoallapplicablefederal,stateandlocaltaxwithholdingrequirements.

Treatment of Arctic Cat Restricted Stock Awards

Eachrestrictedstockaward(each,an"ArcticCatRestrictedStockAward")grantedundertheCompanyStockPlansthatisoutstandingasofimmediatelypriortotheEffectiveTimewillbecomefullyvestedasoftheEffectiveTime.EachArcticCatRestrictedStockAwardthatisoutstandingasoftheEffectiveTimewillbecanceledasoftheEffectiveTimeandconvertedintotherighttoreceive,followingtheEffectiveTime,anamountincash,withoutinterest,equaltotheproductof(i)theMergerConsiderationand(ii)theaggregatenumberofSharessubjecttosuchArcticCatRestrictedStockAward.Allsuchpaymentswillbemadenolaterthanthelateroffifteen(15)calendardaysfollowingtheMergerClosingandthefirstbusinessdayonwhichtheSurvivingCompanypayspayrolltoserviceprovidersfollowingtheMergerClosingandwillbesubjecttoallapplicablefederal,stateandlocaltaxwithholdingrequirements.

Dissenters' Rights

HoldersofDissentingShareswhocomplyinallrespectswith,Sections302A.471and302A.473oftheMBCA(the"DissentersRights")willnotbeconvertedintoorrepresenttherighttoreceivetheMergerConsiderationforsuchDissentingSharesbutinsteadwillbeentitledtopaymentofthefairvalue(includinginterestdeterminedinaccordancewithSection302A.473oftheMBCA)ofsuchDissentingSharesinaccordancewiththeDissentersRights.If,however,anysuchholderfailstoperfectorotherwisewaives,withdrawsorlosestherighttodissentundertheDissentersRights,thentherightofsuchholdertobepaidthefairvalueofsuchholder'sDissentingShareswillceaseandsuchDissentingShareswillbedeemedtohavebeenconvertedasoftheEffectiveTimeinto,andtohavebecomeexchangeablesolelyfortherighttoreceive,theMergerConsideration,withoutinterestthereon.IfanydemandforfairvalueismadeofDissentingSharesandtheTopUpOptionwasexercisedpriortotheEffectiveTime,thenforpurposesofdeterminingthefairvalueofanyDissentingShares,thecashreceivedand/orvalueofthepromissorynotereceivedbyArcticCatinpaymentoftheexercisepriceoftheTopUpOptionwillbetreatedasifithadnotbeenpaidtoorreceivedbyArcticCatandtheSharesissueduponexerciseoftheTopUpOptionwillbetreatedasiftheywerenotissuedoroutstanding.

TheforegoingsummaryofSections302A.471and302A.473oftheMBCAdoesnotpurporttobecompleteandisqualifiedinitsentiretybyreferencetoSections302A.471and302A.473oftheMBCA.

Exchange of Arctic Cat Stock Certificates Following the Merger

PriortotheEffectiveTime,Textronwillappointabankortrustcompanyapproved(suchapprovalnottobeunreasonablywithheld,conditionedordelayed)inadvancebyArcticCattoactaspayingagent(the"PayingAgent")forthepaymentoftheMergerConsideration.

AtorpromptlyaftertheEffectiveTime,Textronwilldeposit,orwillcausetheSurvivingCompanytodeposit,withthePayingAgent,forthebenefitoftheholdersofSharesissuedandoutstandingimmediatelypriortotheEffectiveTime(otherthantheExcludedShares),forpaymentthroughthePayingAgent,anamountincashsufficienttopaytheaggregateMergerConsideration.

PromptlyaftertheEffectiveTime,TextronwillcausethePayingAgenttomailtoeachpersonwhowas,immediatelypriortotheEffectiveTime,aholderofrecordofShares(otherthantheExcludedShares)entitledtoreceivetheMergerConsideration,aLetterofTransmittalandinstructionsforuseineffectingthesurrenderofthoseCertificatesandBook-EntrySharesinexchangefortheMergerConsideration.

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UponsurrenderofadulyexecutedLetterofTransmittalandaCertificaterepresentingSharestothepayingagentorreceiptbythePayingAgentofan"agent'smessage"inthecaseofBook-EntrySharesand,ineachcase,suchotherdocumentsasmaycustomarilyberequiredbythePayingAgent,theholderofsuchCertificateorBook-EntrySharewillbeentitledtoreceiveinexchangetherefortheMergerConsiderationintowhichtheSharesrepresentedbysuchCertificateorBook-EntrySharehavebeenconvertedpursuanttotheMergerAgreement.

Asofthesix-monthanniversaryoftheEffectiveTime,theSurvivingCompanywillbeentitledtorequirethePayingAgenttodelivertotheSurvivingCompanyanyportionoftheconsiderationdepositedwiththePayingAgentthathasnotbeentransferredtotheholdersofSharesandanyholderofShares(otherthantheExcludedShares)whohasnottheretoforesurrenderedsuchCertificatesorBook-EntrySharesincompliancewiththeMergerAgreementwillonlylooktoTextronortheSurvivingCompanyfor,andTextronandtheSurvivingCompanywillremainliablefor,(subjecttoabandonedproperty,escheatorothersimilarlaws)satisfactionofanyclaimsforpaymentoftheMergerConsideration.

Representations and Warranties

TheMergerAgreementcontainsrepresentationsandwarrantiesmadebyArcticCat,ontheonehand,andTextronandPurchaser,ontheotherhand,thatarequalifiedinseveralimportantrespects,whichshouldbeconsideredbyshareholdersastheyreadthemintheMergerAgreement.TherepresentationsandwarrantiesmadebyArcticCatarequalifiedintheirentiretybycertaininformationofArcticCatfiledwiththeSECbyArcticCatbeforethedateoftheMergerAgreement.Inaddition,therepresentations,warrantiesandcertaincovenantsofArcticCatarequalifiedbyconfidentialdisclosureschedulesthatArcticCatpreparedanddeliveredtoTextronandPurchaserinconnectionwiththeexecutionanddeliveryoftheMergerAgreement.Inaddition,certainoftherepresentationsandwarrantiesmadebyArcticCat,ontheonehand,andTextronandPurchaser,ontheotherhand,weremadeasofaspecifieddate,andcertainoftherepresentationsandwarrantiesmayhavebeenusedforthepurposeofallocatingriskbetweenthepartiestotheMergerAgreementratherthanestablishingmattersasfacts.Moreover,certainoftherepresentations,warrantiesandcovenantsofthepartiesmaybesubjecttoacontractualstandardofmaterialitydifferentfromwhatmightbeviewedasmaterialtoshareholders.

TherepresentationsandwarrantiesmadebyArcticCatrelatetothefollowingsubjectmatters,amongotherthings:

• corporateorganizationandsimilarcorporatematters,includingqualificationtodobusinessunderapplicablelaws,corporatestandingandcorporatepowerofeachofArcticCatanditssubsidiaries;

• ArcticCatsubsidiaries;

• theorganizationaldocumentsofArcticCatanditssubsidiaries;

• thecapitalstructureandequitysecuritiesofArcticCat;

• theauthorityofArcticCattoenterintotheMergerAgreement,dueexecutionanddeliveryoftheMergerAgreementandthecompletionofthetransactionscontemplatedthereby;

• theabsenceofviolationsofapplicablelaws,organizationaldocumentsandcontractsasaresultofthetransactionscontemplatedbytheMergerAgreement,includingtheOfferandtheMerger;

• requiredconsents,approvalsandfilingsasaresultofthetransactionscontemplatedbytheMergerAgreement,includingtheOfferandtheMerger;

• companypermitsandabsenceofviolationofcompanypermits;

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• compliancewithapplicablelaws;

• timelyfilingofrequiredSECfilings,complianceofSECfilingswithapplicablelaw,accuracyandcompletenessofSECfilingsandabsenceofcertainSECinquiriesorinvestigations;

• accuracyoffinancialstatementsandmaintenanceofasystemofinternalcontrolsoverfinancialreportinganddisclosurecontrols;

• theabsenceofcertainundisclosedliabilities,off-balancesheetarrangementsandloans;

• theabsenceofcertainchangesandeventssinceMarch31,2016;

• theabsenceofmateriallitigation;

• employeebenefitplans;

• certainlaborandemploymentmatters;

• ownedrealproperty,includingownershipandgoodandmarketabletitle,leasedrealpropertyandownershipoftangibleandintangibleassets;

• certaintaxmatters;

• materialcontracts,includingtheabsenceofviolationorbreachofeachsuchcontract;

• certaininsurancematters;

• environmentalmatters;

• intellectualproperty;

• compliancewithanti-corruptionlaws;

• theabsenceofcertainaffiliatetransactions;

• qualityandsafetyofproductsproduced,soldordistributedbyoronbehalfofArcticCatoritssubsidiaries;

• accuracyoftheinformationincludedinthisOffertoPurchase,theSolicitation/RecommendationStatementfiledonSchedule14D-9andanyproxystatementfiledbyArcticCatrelatedtotheapprovalandadoptionoftheMergerAgreementbytheshareholdersofArcticCat;

• approvalsoftheMergerAgreementandthetransactionscontemplatedtherebybytheArcticCatBoardandthevoterequiredbytheshareholdersofArcticCat;

• exemptionfromthetakeoverlawsofMinnesota,includingSections302A.671,302A.673and302A.675oftheMBCA;

• opinionofBairdtotheArcticCatBoardwithrespecttothefairness,fromafinancialpointofview,toholdersofSharesoftheOfferPriceandtheMergerConsideration;and

• brokers.

TherepresentationsandwarrantiesmadebyTextronandPurchaserrelatetothefollowingsubjectmatters,amongotherthings:

• corporateorganizationandsimilarcorporatematters,includingqualificationtodobusinessunderapplicablelaw,corporatestandingandcorporatepowerofTextronandPurchaser;

• theauthorityofTextronandPurchasertoenterintotheMergerAgreementanddueexecutionanddeliveryoftheMergerAgreementandthecompletionofthetransactionscontemplatedthereby;

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• theabsenceoftheviolationofapplicablelaws,organizationaldocumentsandcontractsasaresultofthetransactionscontemplatedbytheMergerAgreement,includingtheOfferandtheMerger;

• requiredconsentsandapprovalsandfilingsasaresultofthetransactionscontemplatedbytheMergerAgreement,includingtheOfferandtheMerger;

• noownershipofArcticCatCommonStock;

• ownershipandoperationofPurchaser;

• sufficiencyoffundstoconsummatethetransactionscontemplatedbytheMergerAgreement,includingtheOfferandtheMerger;

• accuracyoftheinformationincludedinthisOffertoPurchaseorsuppliedbyTextronorPurchaserforinclusionintheSolicitation/RecommendationStatementfiledonSchedule14D-9oranyproxystatementfiledbyArcticCatrelatedtotheapprovalandadoptionoftheMergerAgreementbytheshareholdersofArcticCat;and

• brokers.

UndertheMergerAgreement,ArcticCat,TextronandPurchaseragreedthatexceptfortherepresentationsandwarrantiesexpresslycontainedintheMergerAgreement,eachpartydoesnotmakeanyotherrepresentationorwarranty.

TherepresentationsandwarrantiesofArcticCat,TextronandPurchasercontainedintheMergerAgreementwillterminateandexpireattheEffectiveTime.

Material Adverse Effect

Severaloftherepresentations,warrantiesandclosingconditionscontainedintheMergerAgreementrefertotheconceptofa"CompanyMaterialAdverseEffect"ora"ParentMaterialAdverseEffect."

ForpurposesoftheMergerAgreement,a"CompanyMaterialAdverseEffect"withrespecttoArcticCatwillbedeemedtooccurifanyevent,circumstance,change,condition,occurrenceoreffect,individuallyorintheaggregatewithanyotherdirectlyrelatedevent,circumstance,change,condition,occurrenceoreffect,(a)hashad,orwouldreasonablybeexpectedtohave,amaterialadverseeffectontheassets,business,condition(financialorotherwise)orresultsofoperationsofArcticCatanditssubsidiaries,takenasawhole,or(b)preventsormateriallydelaystheabilityofArcticCattoconsummatethetransactionscontemplatedbytheMergerAgreement.Notwithstandingtheforegoing,inthecaseofclause(a)above,innoeventshallanyofthefollowing,aloneorincombination,bedeemedtoconstitute,norshallanyofthefollowingbetakenintoaccountindeterminingwhethertherehasbeen,aCompanyMaterialAdverseEffect:

• anyevent,circumstance,change,condition,occurrenceoreffectresultingfromorrelatingto(providedthattheexceptionssetforthinthefirst,second,third,fourthandfifthbulletpointsbelowshallapplyonlytotheextentthatsuchevent,circumstance,change,condition,occurrenceoreffectdoesnothaveadisproportionateimpactonArcticCatanditssubsidiaries,takenasawhole,comparedtoothercompaniesthatoperateintheindustriesinwhichArcticCatanditssubsidiariesoperate):

• achangeingeneraleconomic,political,regulatory,business,financial,creditorcapitalmarketconditions,includinginterestorexchangerates;

• anychangeinconditionsgenerallyaffectingtheprincipalindustryinwhichArcticCatanditssubsidiariesoperate;

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• anychangeinaccountingrequirementsorprinciplesrequiredbyGAAP(oranyauthoritativeinterpretationsthereof)orrequiredbyanychangeinapplicablelawafterthedateoftheMergerAgreement;

• anyadoption,implementation,promulgation,repealormodificationofanyapplicablelawafterthedateoftheMergerAgreement;

• anyoutbreak,escalationoractsofarmedhostility,terrorismorwar;

• changesproximatelycausedbytheannouncementoftheexecutionoftheMergerAgreementorthependencyofthetransactionscontemplatedthereby(providedthattheseexceptionsshallnotapplytoanyrepresentationsorwarrantiesrelatingtoArcticCat'srequiredconsents,approvalsandfilingspursuanttotheMergerAgreement,unlessotherwisedisclosedintheconfidentialdisclosureschedulesdeliveredbyArcticCattoTextronandPurchaserinconnectionwiththeMergerAgreement);or

• compliancewiththeexpresstermsof,orthetakingofanyactionexpresslyrequiredby,theMergerAgreement(excludingArcticCatoperatingintheordinarycourseofbusiness)orthetakingofanyactionconsentedtoorrequestedinwritingbyTextronpriortothetakingofsuchaction;

• anylegalproceedingsmadeorbroughtbyanycurrentorformersecurityholdersofArcticCat(ontheirownbehalforonbehalfofArcticCat)arisingoutoforrelatedtotheMergerAgreementoranytransactionscontemplatedthereby;or

• anyfailuretomeetinternalorpublishedprojections,forecasts,performancemeasures,operatingstatisticsorrevenueorearningspredictionsforanyperiodoradeclineinthepriceortradingvolumeoftheShares(providedthat,exceptasotherwiseprovidedinthedefinitionofCompanyMaterialAdverseEffect,theunderlyingcausesofsuchfailureordeclinemaybeconsideredindeterminingwhetherthereisaCompanyMaterialAdverseEffect).

ForpurposesoftheMergerAgreement,a"ParentMaterialAdverseEffect"withrespecttoeachofTextronorPurchasermeansanyevent,circumstance,development,condition,effect,changeoroccurrencethat,individuallyorintheaggregatewithanyotherevents,circumstances,developments,conditions,effects,changesoroccurrences,preventsormateriallydelaysconsummationoftheOfferortheMergerortheperformancebyTextronorPurchaserofanyoftheirobligationsundertheMergerAgreement.

Conduct of Business by Arctic Cat Pending the Merger

ArcticCatintheMergerAgreementagreedtocertainrestrictionsrelatingtotheconductofitsbusinessbetweenthedateoftheMergerAgreementandtheearlieroftheEffectiveTimeandtheterminationoftheMergerAgreementinaccordancewithitsterms.Duringsuchtime:

• exceptasexpresslycontemplatedbyanyotherprovisionoftheMergerAgreementorassetforthintheconfidentialdisclosurescheduledeliveredbyArcticCattoTextronandPurchaserinconnectionwiththeMergerAgreement,ArcticCatwill,andwillcauseitssubsidiariesto,conductthebusinessofArcticCatanditssubsidiariesintheordinarycourseofbusinessand,totheextentconsistenttherewith,usereasonablebesteffortsto(i)preservesubstantiallyintactthebusinessorganizationofArcticCatanditssubsidiaries,(ii)keepavailabletheservicesofitsexecutiveofficersandkeyemployeesoncommerciallyreasonableterms,(iii)maintainineffectallnecessarylicenses,permits,consents,franchisesandapprovalsandauthorizationsand(iv)maintainsatisfactoryrelationshipswithanypersonswithwhichtheyhavematerialbusinessrelationsandwithgovernmentalauthoritiesthathavejurisdictionovertheirrespectivebusinessesandoperations;

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• ArcticCatwillnot,directlyorindirectly,takeanyactionorknowinglyfailtotakeanyactionthatisintendedtomateriallydelayorpreventtheconsummationofthetransactionscontemplatedbytheMergerAgreement;and

• exceptasexpresslycontemplatedbyanyotherprovisionoftheMergerAgreementorassetforthintheconfidentialdisclosurescheduledeliveredbyArcticCattoTextronandPurchaserinconnectionwiththeMergerAgreementorasrequiredbyapplicablelaw,neitherArcticCatnoranyofitssubsidiarieswill,withoutthepriorwrittenconsentofTextron(providedthatinthecaseoftheeighthandthirteenthbulletpointsbelow,and,solelywithrespecttotheeighthandthirteenthbulletpointsbelow,thetwenty-firstbulletpointbelow,suchconsentnottobeunreasonablywithheld,conditionedordelayed):

• amendorotherwisechangetheirrespectiveorganizationaldocuments;

• issue,sell,disposeoforencumber,orauthorizesuchissuance,sale,dispositionorencumbranceof,anysharesofanyclassofsharecapitaloranyotherequityinterestsofArcticCatoranyofitssubsidiaries,subjecttocertainexceptions;

• declare,setaside,makeorpayanydividendorotherdistributionwithrespecttoanyoftheirsharecapitalorotherequityinterests,subjecttocertainexceptions,orenterintoanycontractwithrespecttothevotingorregistrationoftheirsharecapitalorotherequityinterests;

• reclassify,combine,split,subdivideorredeem,orpurchaseorotherwiseacquire,directlyorindirectly,anyoftheirsharecapitalorotherequityinterests;

• sell,transfer,lease,sublease,license,mortgage,pledge,encumber,allowtolapse,incuranylienon(otherthanapermittedlien),orotherwisedisposeof,orauthorizeanyoftheforegoingwithrespectto,anyownedrealpropertyoranyoftheirmaterialproperties,assets,licenses,operations,rights,businessesorintereststherein(includingintellectualproperty),subjecttocertainexceptions;

• acquire(includingbymerger,consolidation,acquisitionofequityinterestsorassets,oranyotherbusinesscombination)anypersonorotherbusinessorganization(oranydivisionthereof);

• (i)repurchase,prepayorincuranyindebtednessforborrowedmoney(otherthanpursuanttotheExistingCreditAgreement,inallcasesinmaterialcompliancewiththetermsandconditionsoftheExistingCreditAgreement)orissueanydebtsecurities,orissueorselloptions,warrants,callsorotherrightstoacquireanydebtsecuritiesofArcticCatoranyofitssubsidiaries,(ii)makeanyloans,advancesorcapitalcontributionsto,orinvestmentsin,anyotherperson(otherthananArcticCatsubsidiary),(iii)enterintoany"keepwell"orothercontracttomaintainanyfinancialstatementorsimilarconditionofanotherpersonorenterintoanyarrangementhavingtheeconomiceffectofanyoftheforegoingor(iv)assume,guarantee,endorseorotherwisebecomeliableorresponsiblefortheindebtednessorotherobligationsofanotherperson(otherthanaguarantybyArcticCatonbehalfofanyofitssubsidiaries);

• enterinto,amendinamaterialmanner,waive,reneworterminateanymaterialcontract;

• authorize,ormakeanycommitmentwithrespectto,capitalexpendituresthatintheaggregate,togetherwithanycapitalexpendituresincurredpriortothedateoftheMergerAgreementduringArcticCat'sfiscalyearendedMarch31,2017,exceedtheannualcapitalexpendituresbudgetofArcticCatanditssubsidiaries,takenasawhole,providedtoTextronandPurchaser,otherthanintheordinarycourseofbusiness;

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• exceptasotherwiserequiredunderanyplan,program,policy,agreementorotherarrangementinexistenceasofthedateoftheMergerAgreement,(i)increasethecompensationpayableortobecomepayableorthebenefitsprovidedtoserviceproviders,(ii)grantanyretention,severanceorterminationpayto,orenterintoanyemployment,bonus,changeofcontrolorseveranceagreementwith,anycurrentorformerserviceprovider,(iii)establish,adopt,enterinto,terminateoramendanyemployeebenefitsplan,orestablish,adoptorenterintoanyplan,agreement,program,policy,trust,fundorotherarrangementthatwouldbeanemployeebenefitsplanifitwereinexistenceasofthedateoftheMergerAgreement,forthebenefitofanyserviceproviderexceptasrequiredbylaw,(iv)loanoradvanceanymoneyorotherpropertytoanycurrentorformerserviceprovideror(v)establish,adopt,enterintooramendanycollectivebargainingagreementorlaborunioncontract;

• exercisediscretionwithrespecttoorotherwisevoluntarilyacceleratethelapseofrestrictionorvestingofanyequityorequity-basedawardsasaresultoftheMerger;

• failtomaintaininfullforceandeffecttheexistinginsurancepolicies(oralternativepolicieswithcomparabletermsandconditions)coveringArcticCatanditssubsidiariesandtheirrespectiveproperties,assetsandbusinesses;

• (i)settle(orproposetosettle)anylawsuit,litigation,suit,audit,claim,complaint,demand,summons,ceaseanddesistletter,subpoena,injunction,action,proceeding,arbitration,noticeofviolationorinvestigation(an"Action"),otherthan(A)settlementsinvolvingnotmorethan$200,000inmonetarydamagesindividually(netofinsuranceproceeds)andthatdonotrequireanyactions(includingthelicenseofanyintellectualproperty)orimposeanymaterialrestrictionsonthebusinessoroperationsofArcticCatoranyofitssubsidiaries,or,aftertheEffectiveTime,Textronoritssubsidiaries,orincludetheadmissionofwrongdoingbyArcticCatoranyofitssubsidiariesand(B)shareholderlitigation,whichisthesubjectofaseparateprovisionintheMergerAgreement,(ii)settleorcompromiseanymaterialinvestigationorinquirybyanygovernmentalauthority,includingbyenteringintoanyconsentdecreeorothersimilaragreementor(iii)waive,releaseorassignanyclaimsorrightsofmaterialvalue;

• changeitsfinancialaccountingpoliciesorproceduresineffectasofMarch31,2016,otherthanasrequiredbyapplicablelaworGAAP,orwriteup,writedownorwriteoffthebookvalueofanyassetsofArcticCatoranyofitssubsidiaries,otherthanintheordinarycourseofbusinessorasmayberequiredbyapplicablelaworGAAP;

• makeanychangeintheinvestment,hedging,reserving,underwritingorclaimsadministrationpolicies,practicesorprinciplesthatwouldbematerialtoArcticCatanditssubsidiaries,takenasawhole,exceptasmayberequiredtoconformtochangesinGAAPorapplicablelaw;

• mergeorconsolidateArcticCatoranyofitssubsidiarieswithanypersonoradoptaplanofcompleteorpartialliquidationorresolutionsprovidingforacompleteorpartialliquidation,dissolution,restructuring,recapitalizationorotherreorganizationofArcticCatoranyofitssubsidiaries;

• (i)changeoradopt(orfilearequesttochangeoradopt)anymethodoftaxaccountingoranyannualtaxaccountingperiod,(ii)make,changeorrescindanymaterialtaxelection,(iii)fileanytaxreturnrelatingtoArcticCatoranyofitssubsidiariesthathasbeenpreparedinamannerthatisinconsistentwiththepastpracticesofArcticCatoranyofitssubsidiaries,asapplicable,(iv)settleorcompromiseanyclaim,investigation,auditorcontroversyrelatingtotaxes,(v)surrenderanyrighttoclaimataxrefund,(vi)fileany

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amendedtaxreturn,(vii)enterintoanyclosingagreementwithrespecttoanytaxor(viii)waiveorextendthestatuteoflimitationswithrespecttotheassessmentordeterminationoftaxes;

• (i)abandon,disclaim,dedicatetothepublic,sell,assign,transferorencumber(otherthanpermittedliens)itsrightsorinterestin,toorunderanymaterialintellectualproperty,includingfailingtoperformorcausetobeperformedallapplicablefilings,recordingsandotheracts,ortopayorcausetobepaidallrequiredfeesandtaxes,tomaintainandprotectArcticCatoranyofitssubsidiaries'interestinsuchmaterialintellectualproperty,(ii)licenseanyintellectualpropertytoanythirdparty,otherthannon-exclusivelicensesgrantedintheordinarycourseofbusiness,(iii)develop,createorinventanyintellectualpropertyjointlywithanythirdparty,ineachcaseotherthanintheordinarycourseofbusinessor(iv)discloseanyconfidentialinformationorconfidentialintellectualpropertytoanyperson,otherthanemployeesofArcticCatoranyofitssubsidiariesorthirdpartiesthataresubjecttoconfidentialityornon-disclosureagreementsprotectingagainstdisclosurethereof,ineachcaseintheordinarycourseofbusiness,ortoTextronoranyofitsaffiliatesinconnectionwiththetransactionscontemplatedbytheMergerAgreement;

• enterinto,amend,waiveorterminate(otherthanterminationsinaccordancewiththeirterms)anyaffiliatetransaction;

• failtomakeinatimelymanneranyfilingswiththeSECrequiredundertheSecuritiesActortheExchangeActortherulesandregulationspromulgatedthereunder;or

• agree,resolve,announceanintention,enterintoanyformalorinformalagreementorotherwisemakeacommitment,todoanyoftheforegoing.

Third Party Acquisition Proposals

ArcticCatwill,andwillcauseitssubsidiariesto,andwillinstruct(anduseitsreasonablebesteffortstocause)anyrepresentativeofArcticCatanditssubsidiariesto,immediatelyceaseandcausetobeterminatedanysolicitation,discussionsornegotiationswithanypersonthatmaybeongoingwithrespecttoanAcquisitionProposal(asdefinedbelow),oranyinquiry,proposalorofferthatwouldreasonablybeexpectedtoleadtoanAcquisitionProposal,andwillrequestthepromptreturnordestructionofallnon-publicconfidentialinformationpreviouslyfurnishedtoanypersoninconnectiontherewithandimmediatelyterminateallphysicalandelectronicdataroomaccesspreviouslygrantedtoanysuchperson,itssubsidiariesoritsoritssubsidiaries'representatives.

Subjecttotheexceptionsdescribedbelow,ArcticCathasagreedthatduringtheperiodfromthedateoftheMergerAgreementandtheearlieroftheAcceptanceTimeandtheterminationoftheMergerAgreementinaccordancewithitsterms,itwillnot,andwillcauseeachofitssubsidiariesnotto,andwillinstruct(anduseitsreasonablebesteffortstocause)anyrepresentativeofArcticCatanditssubsidiariesnotto,directlyorindirectly:

• solicitorinitiateanyinquiriesortheimplementationorsubmissionofanyAcquisitionProposal,oranyproposalsoroffersthatwouldbereasonablyexpectedtoleadtoanAcquisitionProposal;

• engagein,continueorotherwiseparticipateinanydiscussionsornegotiationsregarding,orfurnishtoanypersonanynon-publicandconfidentialinformationinconnectionwith,orforthepurposeoffacilitating,anyinquiries,proposalsoroffersthatconstitute,orcouldbereasonablyexpectedtoleadto,anAcquisitionProposal,excepttonotifysuchpersonoftheexistenceoftherestrictionregardingthirdpartyproposalscontainedintheMergerAgreement;

• otherwisefacilitateanyeffortorattempttomakeanAcquisitionProposal,oranyinquiries,proposalsoroffersthatcouldreasonablybeexpectedtoleadtoanAcquisitionProposal;or

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• executeorenterintoanyletterofintent,memorandumofunderstanding,agreementinprinciple,acquisitionagreement,mergeragreement,optionorothersimilaragreement(otherthananAcceptableConfidentialityAgreement(asdefinedbelow)enteredintoinaccordancewiththetermsoftheMergerAgreement)regarding,orthatisintendedtoresultin,orwouldreasonablybeexpectedtoleadto,anyAcquisitionProposal(anyoftheforegoing,an"AcquisitionAgreement").

An"AcquisitionProposal"meansanyoralorwrittenproposalorofferfromanypersonorgroup(asthatgroupisdefinedinRule13d-3oftheExchangeAct),otherthanTextronorPurchaser,relatingto,inasingletransactionorseriesofrelatedtransactions,(i)anydirectorindirectacquisitionof(A)20%ormoreoftheassets(whetherbasedonthefairmarketvalue,revenuegenerationornetincome)ofArcticCatanditsconsolidatedsubsidiaries,takenasawhole,includinginanysuchcasethroughtheacquisitionofoneormoreArcticCatsubsidiariesowningsuchassets,or(B)20%ormoreoftheoutstandingArcticCatCommonStock(oranysecuritiesconvertibleinto,orexchangeablefor,suchArcticCatCommonStock);(ii)anytenderofferorexchangeoffer,asdefinedpursuanttotheExchangeAct,thatifconsummatedwouldresult,directlyorindirectly,inanypersonorgroup(ortheshareholdersofanypersonorgroup)beneficiallyowning20%ormoreoftheoutstandingArcticCatCommonStock;or(iii)anymerger,consolidation,businesscombination,shareexchange,recapitalization,liquidation,dissolutionorothersimilartransactioninvolvingArcticCatthatwouldresultinanypersonorgroup(ortheshareholdersofanypersonorgroup)beneficiallyowning,directlyorindirectly,20%ormoreoftheoutstandingArcticCatCommonStockor20%ormoreofthevotingpowerofthesurvivingentityinamergerinvolvingArcticCatortheresultingdirectorindirectparentofArcticCatorsuchsurvivingentity(oranysecuritiesconvertibleinto,orexchangeablefor,securitiesrepresentingsuchvotingpower).

An"AcceptableConfidentialityAgreement"meansanexecutedconfidentialityagreementwithtermsnolessfavorable,intheaggregate,toArcticCatthanthosecontainedintheconfidentialityagreemententeredintobyTextronandArcticCatonOctober6,2016(the"ConfidentialityAgreement"),provided,however,thatsuchconfidentialityagreement(i)shallincludea"standstill"restrictionthatissimilarinscopetothe"standstill"restrictionsintheConfidentialityAgreement,withoutapplicationofany"fall-away"provisionscontainedtherein,butsuchrestrictionsneednotprohibitthemakingofanyconfidentialAcquisitionProposaltoArcticCatortheArcticCatBoard(oranycommitteethereof),and(ii)shallnotprovideforanexclusiverighttonegotiatewithArcticCatandshallnotrestrictArcticCatfromcomplyingwithanytermorconditionoftheMergerAgreement,includingtherequirementtoprovideinformationtoTextron(asdescribedbelow).

However,notwithstandingtheforegoingparagraphs,ArcticCatmayrespondtounsolicitedinboundinquiries(orallyorinwriting)fromthirdpartiesthatcommunicateaninterestinpursuinganAcquisitionProposal.Additionally,priortotheAcceptanceTime,nothingcontainedintheforegoingparagraphswillpreventArcticCatortheArcticCatBoardfromfurnishinginformationto,orengaginginnegotiationsordiscussionswith,anypersonthatmakesanunsolicitedbonafideAcquisitionProposal,whichAcquisitionProposaldidnotresultinanymaterialrespectfromabreach(ordeemedbreach)ofArcticCat'sresponsibilitiessetforthintheforegoingparagraphs,if,andonlyif,priortotakingsuchaction:

• theArcticCatBoard(i)determinesingoodfaith(afterconsultationwithitsfinancialadvisorsandoutsidelegalcounsel)thatsuchAcquisitionProposalis,orcouldreasonablybeexpectedtoresultin,aSuperiorProposal(asdefinedbelow)and(ii)determinesingoodfaith(afterconsultationwithitsoutsidelegalcounsel)thatitsfailuretotakesuchactionswouldbeinconsistentwithitsfiduciarydutiesunderapplicablelaw;

• ArcticCatprovideswrittennoticetoTextronofthedeterminationreferencedintheimmediatelyprecedingbulletpoint;and

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• ArcticCat(i)receivesfromsuchpersonanexecutedAcceptableConfidentialityAgreementand(ii)deliverstoTextronacopyofsuchexecutedAcceptableConfidentialityAgreementpromptlyfollowingitsexecution.

A"SuperiorProposal"meansanybonafidewrittenAcquisitionProposalmadebyanypersonorgroup(otherthanTextronorPurchaser)afterthedateoftheMergerAgreement,whichAcquisitionProposaldidnotresultinanymaterialrespectfromabreach(ordeemedbreach)ofArcticCat'sresponsibilitiessetforthintheforegoingparagraphs,that(i)wouldresultinsuchpersonorgroup(orinthecaseofadirectmergerbetweensuchpersonandArcticCat,theshareholdersofsuchperson)acquiring,directlyorindirectly,50%ormoreoftheoutstandingArcticCatCommonStockorallorsubstantiallyalloftheassetsofArcticCatanditssubsidiariestakenasawhole,(ii)isontermsthattheArcticCatBoarddeterminesingoodfaith(afterreceivingtheadviceofitsfinancialadvisorandoutsidelegalcounselandaftertakingintoaccountallthetermsandconditionsoftheAcquisitionProposal)aremorefavorabletoArcticCat'sshareholdersfromafinancialpointofviewthanthetransactionscontemplatedbytheMergerAgreement(takingintoaccountanyproposedamendmentormodificationproposedbyTextroninaccordancewiththetermsoftheMergerAgreement)and(iii)theArcticCatBoarddetermines(afterreceivingtheadviceofitsfinancialadvisorandoutsidelegalcounsel)isreasonablycapableofbeingconsummatedinaccordancewithitstermsinareasonableperiodoftime,takingintoaccountallfinancial,regulatory,legalandotheraspects(includingcertaintyofclosingandcertaintyoffinancing)ofsuchproposal.

ArcticCatwillpromptly(andinanyeventwithin48hours):

• provideTextronwrittennoticeof(i)thereceiptofanyAcquisitionProposalor(ii)anyinquiries,proposalsoroffersreceivedby,oranydiscussionsornegotiationssoughttobeinitiatedorcontinuedwith,ArcticCat,anyofitssubsidiariesoranyrepresentativeofArcticCatoritssubsidiariesconcerninganAcquisitionProposal;

• disclosetoTextronthematerialtermsofanysuchAcquisitionProposaloranysuchinquiry,offer,proposalorrequest,includingtheidentityofthepersonmakinganysuchAcquisitionProposaloranysuchinquiry,offer,proposalorrequest;

• provideTextronwithcopiesofallwritteninformationconcerningArcticCatoranyofitssubsidiariesprovidedormadeavailablebyArcticCat,anyofitssubsidiariesoranyrepresentativeofArcticCatoritssubsidiariestosuchpersontotheextentnotpreviouslyprovidedormadeavailabletoTextron;

• respondtorequestsbyTextronforinformationregardingthestatusanddetailsofanysuchAcquisitionProposalorotherinquiry,offer,proposalorrequestconcerninganAcquisitionProposal;and

• disclosetoTextronanymaterialdevelopmentormaterialamendmentofanysuchAcquisitionProposalorotherinquiry,offer,proposalorrequestconcerninganAcquisitionProposal.

ArcticCatwillpromptly(andinanyeventwithin24hours)followingadeterminationbytheArcticCatBoardthatanAcquisitionProposalisaSuperiorProposal,notifyTextronofsuchdetermination.

Board Recommendation Change and Written Notice of Adverse Recommendation Change

Exceptasdescribedbelow,neitherArcticCatnortheArcticCatBoard(oranycommitteethereof),will(i)withhold,withdrawormodify,inamanneradversetoTextronorPurchaser,theCompanyBoardRecommendation(asdefinedbelow);(ii)approveorrecommendanyAcquisitionProposal;(iii)enterintoanyAcquisitionAgreement;or(iv)recommendanyAcquisitionProposal(andfailtoreaffirmtheCompanyBoardRecommendation).Anysuchaction,otherthanthatsetforthintheprecedingclause(iii),isan"AdverseRecommendationChange."

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The"CompanyBoardRecommendation"meanstheArcticCatBoard's,and,asrequiredbytheMBCA,acommitteeofdisinteresteddirectorsoftheArcticCatBoard's,amongotherthings,(i)determinationthattheMergerAgreementandthetransactionscontemplatedtherebyareadvisable,fairtoandinthebestinterestsofArcticCatanditsshareholders;(ii)approvalandadoptionoftheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMerger;and(iii)recommendationthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserintheOfferand,ifrequiredtoconsummatetheMerger,suchshareholdersapproveandadopttheMergerAgreementandtheMerger.

However,priortotheAcceptanceTime,theArcticCatBoardmayeffectanAdverseRecommendationChange,if:

• ArcticCatreceivesanunsolicited,writtenAcquisitionProposalthattheArcticCatBoarddeterminesingoodfaith(afterconsultationwithitsfinancialadvisorsandoutsidelegalcounsel)isaSuperiorProposalanddeterminesingoodfaith(afterconsultationwithitsoutsidelegalcounsel)thatitsfailuretotakesuchactionswouldbeinconsistentwithitsfiduciarydutiesunderapplicablelaw;providedthat:

• priortoeffectingsuchanAdverseRecommendationChangewithrespecttoaSuperiorProposal,(i)ArcticCathasnotifiedTextroninwritingthatitintendstoeffectanAdverseRecommendationChange,(ii)ArcticCathasprovidedTextronacopyofallproposeddefinitiveagreements(includingallfinancingdocuments,ifapplicable)withrespecttosuchSuperiorProposal,(iii)ifrequestedtodosobyTextron,foraperiodoffour(4)calendardaysfollowingdeliveryofsuchnotice,ArcticCatwillhavediscussedandnegotiatedingoodfaith,andwillhavemadeitsoritssubsidiaries'representativesavailabletodiscussandnegotiateingoodfaith,withTextronanditsoritssubsidiaries'representativesanybonafideproposedmodificationstothetermsandconditionsoftheMergerAgreementand(iv)noearlierthantheendofsuchfour(4)calendardayperiod,theArcticCatBoard(afterconsultationwithitsoutsidelegalcounselandfinancialadvisor)willhavedeterminedingoodfaith,afterconsideringthetermsofanyproposedamendmentormodificationtotheMergerAgreementproposedbyTextronduringsuchfour(4)calendardayperiod,thatsuchSuperiorProposalstillconstitutesaSuperiorProposalandthatthefailuretomakeanAdverseRecommendationChangeinconnectiontherewithwouldbeinconsistentwithitsfiduciarydutiesunderapplicablelaw;and

• anychangetothefinancialorothermaterialtermsofsuchSuperiorProposalwillrequireArcticCattoprovideanewnoticetoTextroninthesamemannerasdescribedintheimmediatelyprecedingbulletpointandrequireArcticCattoagaincomplywiththerequirementssetforthintheimmediatelyprecedingbulletpoint;exceptthatwithrespecttoanysuchnewnoticeorsubsequentnotices,referencestoa"four(4)calendardayperiod"willbedeemedreferencestoa"two(2)calendardayperiod."

• anInterveningEvent(asdefinedbelow)occursandasaresultthereoftheArcticCatBoarddeterminesingoodfaith(afterconsultationwithitsoutsidelegalcounsel)thatthefailuretoeffectanAdverseRecommendationChangewouldbeinconsistentwithitsfiduciarydutiesunderapplicablelaw;providedthat:

• priortoeffectingsuchanAdverseRecommendationChangewithrespecttoanInterveningEvent,(i)ArcticCathasnotifiedTextroninwritingthatitintendstoeffectsuchanAdverseRecommendationChange,describinginreasonabledetailthereasonsforsuchAdverseRecommendationChange,(ii)ifrequestedtodosobyTextron,foraperiodoffour(4)calendardaysfollowingdeliveryofsuchnotice,ArcticCatwillhavediscussedandnegotiatedingoodfaith,andwillhavemadeitsoritssubsidiaries'representativesavailabletodiscussandnegotiateingoodfaith,withTextronanditsoritssubsidiaries'

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representativesanybonafideproposedmodificationstothetermsandconditionsoftheMergerAgreementand(iii)noearlierthantheendofsuchfour(4)calendardayperiod,theArcticCatBoardwillhavedeterminedingoodfaith,afterconsideringthetermsofanyproposedamendmentormodificationtotheMergerAgreementproposedbyTextronduringsuchfour(4)calendardayperiodandafterconsultationwithitsoutsidelegalcounsel,thatthefailuretoeffectanAdverseRecommendationChangewouldstillbeinconsistentwiththeArcticCatBoard'sfiduciarydutiesunderapplicablelaw.

An"InterveningEvent"meansanymaterialevent,circumstance,change,effect,developmentorcondition(otherthananAcquisitionProposaloranyinquiry,offerorproposalthatwouldreasonablybeexpectedtoleadtoanAcquisitionProposal)firstoccurringorarisingafterthedateoftheMergerAgreementthatwasnotknownorreasonablyforeseeablebytheArcticCatBoardasofthedateoftheMergerAgreement(orifknown,themagnitudeormaterialconsequencesofwhichwerenotknownorreasonablyforeseeablebytheArcticCatBoardasofthedateoftheMergerAgreement).

NothingcontainedintheMergerAgreementwillpreventArcticCatortheArcticCatBoardfromissuinga"stop,lookandlisten"communicationpursuanttoRule14d-9(f)undertheExchangeActorcomplyingwithRule14d-9andRule14e-2undertheExchangeActwithrespecttoanAcquisitionProposalorfrommakinganydisclosuretoArcticCat'sshareholdersiftheArcticCatBoarddetermines(afterconsultationwithitsoutsidelegalcounsel)thatitsfailuretodosowouldbeinconsistentwithitsfiduciarydutiesunderapplicablelaw;providedthat,ineachcase,anyAdverseRecommendationChangemayonlybemadeinaccordancewiththeforegoingparagraphs.

IfanysubsidiaryofArcticCatorrepresentativeofArcticCatoritssubsidiariesoranysubsidiaryofArcticCattakesanyaction,onbehalfofArcticCat,which,iftakenbyArcticCat,wouldconstituteamaterialbreachoftheno-solicitationprovisionsoftheMergerAgreementdescribedinthissubsection,andArcticCatdoesnottakereasonableactiontoseektocuresuchbreachwithintwo(2)businessdaysoftheearlierofthedateonwhichArcticCatreceiveswrittennoticefromTextronorPurchaserofsuchbreachandthedateonwhichArcticCat'sseniormanagementteamobtainsknowledgeofsuchbreach,thenArcticCatwillbedeemedtohavebreachedtheno-solicitationprovisionsoftheMergerAgreementdescribedinthissubsection.

Indemnification

FromandaftertheEffectiveTime,theSurvivingCompanyanditssubsidiarieswill,andTextronwillcausetheSurvivingCompanyto,tothefullestextentpermittedundertheMBCA,honorandfulfillinallrespectstheobligationsofArcticCatanditssubsidiariesunderanyandallindemnificationagreementsbetweenArcticCatoranyofitssubsidiariesandanyoftheirrespectivepresentorformerdirectorsandofficers(collectively,the"IndemnifiedParties").ThearticlesofincorporationandbylawsoftheSurvivingCompanywillcontainprovisionsnolessfavorablewithrespecttoexculpationandindemnificationthanaresetforthintheRestatedArticlesofIncorporationofArcticCatasineffectasofthedateoftheMergerAgreementortheAmendedandRestatedBylawsofArcticCatasineffectasofthedateoftheMergerAgreement,whichprovisionswillnotbeamended,repealedorotherwisemodifiedforaperiodofsix(6)yearsfromtheEffectiveTimeinanymannerthatwouldaffectadverselyinanymaterialrespecttherightsthereunderofindividualswho,atorpriortotheEffectiveTime,weredirectorsorofficersofArcticCatoranyofitssubsidiaries.

Inaddition,foraperiodofsix(6)yearsaftertheEffectiveTime,theSurvivingCompanywilltothefullestextentpermittedunderapplicablelawindemnifyandholdharmlesseachIndemnifiedPartyagainstallcostsandexpenses(includingattorneys'fees),judgments,fines,losses,claims,damages,liabilitiesandsettlementamountspaidinconnectionwithanyAction(whetherarisingbeforeoraftertheEffectiveTime),whethercivil,criminal,administrativeorinvestigative,arisingoutoforrelatingto

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anyactionoromissionintheircapacityasadirectororofficerofArcticCatoranyofitssubsidiariesoccurringonorbeforetheEffectiveTime.

TheSurvivingCompanywilleither(i)purchaseattheEffectiveTimea"tail"directors'andofficers'liabilityinsurancepolicieswithaclaimsperiodofatleastsix(6)yearsfromtheEffectiveTimecoveringthosepersonswhoarecurrentlycoveredbythedirectors'andofficers'liabilityinsurancepoliciesofArcticCatinanamountandscopeatleastasfavorable,intheaggregate,asArcticCat'sexistinginsurancecoverageforclaimsarisingfromfactsoreventsthatoccurredonorpriortotheEffectiveTimeor(ii)maintainineffectforsix(6)yearsfromtheEffectiveTime,ifavailable,thecurrentdirectors'andofficers'liabilityinsurancepoliciesmaintainedbyArcticCat;providedthat(a)theSurvivingCompanymaysubstitutepoliciesofatleastthesamecoveragecontainingtermsandconditionsthataresubstantiallysimilar,intheaggregate,withrespecttomattersoccurringpriortotheEffectiveTime,(b)theSurvivingCompanywillnotberequiredtoexpendinconnectiontherewithmorethananamountperyearequalto250%ofcurrentannualpremiumspaidbyArcticCatforsuchinsuranceand(c)intheeventofanexpiration,terminationorcancellationofsuchcurrentpolicies,TextronortheSurvivingCompanywillberequiredtoobtainasmuchcoverageasispossibleundersubstantiallysimilarpoliciesforsuchmaximumannualamountinaggregateannualpremiums.

Regulatory Approvals

EachofTextron,PurchaserandArcticCatwill,andwillcauseeachofitssubsidiariesto:

• useitsreasonablebestefforts(subjecttocompliancewithapplicablelaw)topromptlytake,orcausetobetaken,allactions,andtopromptlydo,orcausetobedone,andtoassistandcooperatewiththeotherpartiesindoing,allthingsnecessary,properoradvisableunderapplicablelawtoconsummateandmakeeffectivethetransactionscontemplatedbytheMergerAgreement,including:

• usingreasonablebesteffortstopromptlyobtainallauthorizations,consents,orders,approvals,licenses,permitsandwaiversofallgovernmentalauthoritiesandofficialsthatmaybeorbecomenecessaryfortheperformanceofitsobligationspursuanttotheMergerAgreement;

• cooperatingfullywiththeotherpartiesinpromptlyseekingtoobtainallsuchauthorizations,consents,orders,approvals,licenses,permitsandwaivers;

• providingsuchotherinformationtoanygovernmentalauthorityassuchgovernmentalauthoritymaylawfullyrequestinconnectionwiththeMergerAgreement;and

• usingreasonablebesteffortstoobtainconsents,approvalsorwaiversfromthirdpartiesthatare(i)necessarytoconsummatethetransactionscontemplatedbytheMergerAgreementor(ii)disclosedintheconfidentialdisclosurescheduledeliveredbyArcticCattoTextronandPurchaserinconnectionwiththeMergerAgreement,providedthat,notwithstandingtheforegoing,noneofArcticCat,anyofArcticCat'ssubsidiaries,Textron,oranyofTextron'ssubsidiarieswillberequiredtomakeanypaymentsorconcessionsinconnectionwiththefulfillmentofitsobligationsunderthisbulletpointandthatneitherArcticCatnoranyofitssubsidiarieswillpayanyconsiderationormakeanyagreementsorcommitmentsinconnectionwithanysuchnecessaryconsents,approvalsorwaiverswithoutthepriorwrittenconsentofTextron;

• aspromptlyaspracticable,butinanyeventnolaterthanten(10)calendardaysfollowingthedateoftheMergerAgreement,makeitsrespectivefilings,ifnecessary,pursuanttotheHSRActwithrespecttothetransactionscontemplatedbytheMergerAgreementandsupplyaspromptlyasreasonablypracticablethereaftertotheappropriategovernmentalauthoritiesanyadditionalinformationanddocumentarymaterialthatmayberequestedpursuanttotheHSRAct;

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• aspromptlyaspracticableafterthedateoftheMergerAgreement,makeitsrespectivefilingsandnotifications,ifany,underanyotherapplicableantitrustlaw,includingtheantitrustlawsofGermany,andsupplyaspromptlyasreasonablypracticabletotheappropriategovernmentalauthoritiesanyadditionalinformationanddocumentarymaterialthatmayberequestedpursuanttoapplicableantitrustlaw,includingtheantitrustlawsofGermany;

• promptlynotifytheotherpartiesofanynoticefromanypersonorgovernmentalauthorityallegingthattheconsentofsuchpersonisormayberequiredinconnectionwiththetransactionscontemplatedbytheMergerAgreement;

• keeptheotherpartiesapprisedofthecontentandstatusofanycommunicationswith,andcommunicationsfrom,anygovernmentalauthoritywithrespecttothetransactionscontemplatedbytheMergerAgreement,includingpromptlynotifyingtheotherpartiesofanymaterialcommunicationitoranyofitsaffiliatesreceivesfromanygovernmentalauthorityrelatingtoanyrevieworinvestigationofthetransactionscontemplatedbytheMergerAgreementundertheHSRActoranyapplicablenon-UnitedStatesantitrustlawsandpermittingtheotherpartiestoreviewinadvance(andconsideringanycommentsmadebytheotherpartyinrelationto)anyproposedsubstantivecommunicationbysuchpartytoanygovernmentalauthorityrelatingtosuchmatters;

• coordinateandcooperatefullywitheachotherinexchangingsuchinformationandprovidingsuchassistanceastheotherpartymayreasonablyrequestinconnectionwiththeforegoingandinseekingearlyterminationofanyapplicablewaitingperiods,includingundertheHSRAct;and

• provideeachotherwithcopiesofallcorrespondence,filingsorcommunicationsbetweenthemoranyoftheirrepresentatives,ontheonehand,andanygovernmentalauthorityormembersofitsstaff,ontheotherhand,withrespecttotheMergerAgreementandthetransactionscontemplatedthereby,subjecttocertainlimitations.

Noneofthepartieswillagreetoparticipateinanysubstantivemeeting,telephonecallordiscussionwithanygovernmentalauthorityinrespectofanysubmissions,filings,investigation(includinganysettlementoftheinvestigation)orotherinquiryrelatingtothetransactionscontemplatedbytheMergerAgreementunlessitconsultswiththeotherpartiesinadvanceand,totheextentpermittedbysuchgovernmentalauthority,givestheotherpartiestheopportunitytoattendandparticipateatsuchmeeting,telephonecallordiscussion.

Textron,afterpriorconsultationwithArcticCat(totheextentpracticable),willhavetheprincipalresponsibilityfordevisingandimplementingthestrategyforobtaininganynecessaryantitrust,competitionorinvestmentreviewclearances,andwilltaketheleadinallmeetingsandcommunicationswithanygovernmentalauthorityinconnectionwithobtaininganynecessaryantitrust,competitionorinvestmentreviewclearances.

NothingintheMergerAgreementwillrequire,orbeconstruedtorequire,TextronoranyaffiliateofTextronto(andArcticCatwillnot,withoutthepriorwrittenconsentofTextron,whichconsentmaybewithheldforanyreason)agreeto:

• anysale,license,divestitureorotherdispositionorholdingseparateofanycapitalstock,businesses,assets,propertiesorotherinterestsofTextron,ArcticCat,oranyoftheirrespectiveaffiliates;

• theimpositionofanylimitation,restrictionorconditionontheabilityofTextron,ArcticCat,oranyoftheirrespectiveaffiliatestoconducttheirrespectivebusinessesorown,acquire,holdorexercisefullrightsofownershipofanycapitalstock,businesses,assets,propertiesorotherinterests;or

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• theimpositionofanylimitation,restrictionorconditiononTextron,ArcticCat,oranyoftheirrespectiveaffiliatesunderanyantitrustlaws.

Shareholder Litigation

ArcticCathasagreedtoprovideTextronwiththeopportunitytoparticipateinthedefenseorsettlementofanyshareholderlitigationbroughtbyanyshareholderofArcticCatagainstArcticCatand/oritsdirectorsorexecutiveofficersrelatingtothetransactionscontemplatedbytheMergerAgreement,whethercommencedpriortooraftertheexecutionanddeliveryoftheMergerAgreement.ArcticCatwillnotsettleoroffertosettleanysuchlitigationwithoutthepriorwrittenconsentofTextron.

Other Covenants and Agreements

TheMergerAgreementcontainscertainothercovenantsandagreements,includingcovenantsrelatingto:

• cooperationbetweenTextronandArcticCatinthepreparationoftheOffer,ofwhichthisScheduleTOformsapart,theSchedule14D-9,ifapplicable,theproxystatement,ifnecessary,andotherrequiredfilings;

• subjecttocertainlimitations,reasonableaccesstoinformationaboutArcticCattobemadeavailableuponTextron'srequest;

• consultationbetweenArcticCatandTextronpriortomakinganypublicstatementsrelatingtotheMergerAgreementandthetransactionscontemplatedthereby;

• delistingofArcticCatCommonStockfromNASDAQandderegisteringofArcticCatCommonStockundertheExchangeAct;

• promptlynotifyingtheotherpartyoftheoccurrenceofaneventthatwouldorwouldbereasonablylikelyto(i)preventormateriallydelaytheconsummationofthetransactionscontemplatedbytheMergerAgreementor(ii)resultinthefailureofanyconditionsetforthintheMergerAgreementanddescribedin"ConditionstotheCompletionoftheMerger"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchasetobesatisfiedorreceiptofanynoticeorothercommunicationfromanygovernmentalauthorityoranysecuritiesmarketinconnectionwiththetransactionscontemplatedbytheMergerAgreement;

• ArcticCatconsulting,ifpracticable,withTextronpriortomakingpubliclyavailableitsfinancialresultsforanyperiodafterthedateoftheMergerAgreementandpriortofilinganyreportordocumentwiththeSECafterthedateoftheMergerAgreement;

• priortotheEffectiveTime,uponTextron'srequest,ArcticCatcausinganydirectororofficerofArcticCatandeachofitssubsidiariestoexecuteanddeliveralettereffectuatinghisorherresignationasadirectororofficer,asthecasemaybe,ofsuchentityeffectiveasoftheEffectiveTime;

• ArcticCatundertakingcertainactionsatleasttwo(2)businessdayspriortotheexpectedAcceptanceTimeortheMergerClosing,asrequestedbyTextronafterthedateoftheMergerAgreement,relatingtotherepaymentinfullofallobligationsundertheExistingCreditAgreement;and

• ArcticCatnotifyingTextronpromptly(andinanyeventwithinfive(5)calendardays)inwritingofanymaterialinvestigationsordirectivesregardinganyproductproduced,soldordistributedbyoronbehalfofArcticCatoranyofitssubsidiariescommenced,issuedorthreatenedin

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writingbycertaingovernmentalauthoritiesandanymaterialnoticesreceivedbyArcticCatoranyofitssubsidiariesfromcertaingovernmentalauthoritiesregardingthesame.

Conditions to the Completion of the Merger

ThecompletionofthetransactionscontemplatedbytheMergerAgreementdependsuponthesatisfactionorwrittenwaiverofanumberofconditions,allofwhich,totheextentpermittedbyapplicablelaw,maybewaivedbyTextron,PurchaserorArcticCat,asapplicable.

ThefollowingconditionsmustbesatisfiedorwaivedbeforeTextron,PurchaserorArcticCatisobligatedtocompletetheMerger:

• iftheadoptionoftheMergerAgreementandapprovaltoconsummatetheMergerbytheshareholdersofArcticCatarerequiredbyapplicablelaw,theshareholdersofArcticCatshallhaveadoptedtheMergerAgreementandapprovedtheconsummationoftheMerger;

• Purchasershallhaveacceptedforpaymentandpaidfor,orcausetobeacceptedforpaymentandpaidfor,allSharesvalidlytenderedandnotproperlywithdrawnpursuanttotheOffer(includingpursuanttotheSubsequentOfferingPeriodprovidedbyPurchaserpursuanttotheMergerAgreement);and

• nogovernmentalauthorityofcompetentjurisdictionshallhaveenacted,issued,promulgated,enforcedorenteredanydecision,injunction,decree,ruling,lawororder(whethertemporary,preliminaryorpermanent)thatisineffectandenjoinsorotherwiseprohibitsormakesillegaltheconsummationofthetransactionsonthetermscontemplatedbytheMergerAgreement.

SubjecttoanyapplicablerulesandregulationsoftheSEC,includingRule14e-1(c)promulgatedundertheExchangeAct,PurchaserisnotrequiredtoacceptforpaymentorpayforanyvalidlytenderedSharesintheOfferandmaydelaytheacceptanceforpaymentorthepaymentforanyvalidlytenderedSharesif:

• theMinimumConditionhasnotbeensatisfiedattheExpirationDate;

• thewaitingperiodapplicabletotheconsummationoftheOfferundertheHSRActhasnotexpiredorbeenterminatedatorpriortotheExpirationDateandanyconsent,approval,orotherauthorizationapplicabletotheconsummationoftheOfferundertheantitrustlawsofGermanyhasnotbeenreceivedorgranted;or

• atanytimeonorafterthedateoftheMergerAgreementandpriortotheExpirationDate,anyofthefollowinghasoccurredandiscontinuingattheExpirationDate:

• agovernmentalauthorityofcompetentjurisdictionhasenacted,issued,promulgated,enforcedorenteredanydecision,injunction,decree,ruling,lawororder(whethertemporary,preliminaryorpermanent)thatisineffectandenjoinsorotherwiseprohibitsormakesillegaltheconsummationofthetransactionscontemplatedbytheMergerAgreementonthetermscontemplatedbytheMergerAgreement(providedthatTextronandPurchaserhaveusedtheirreasonablebesteffortstoopposeanysuchactionbysuchgovernmentalauthorityinaccordancewiththetermsoftheMergerAgreement);

• therepresentationsandwarrantiesmadebyArcticCatintheMergerAgreementrelatingtoArcticCat'ssubsidiaries,organizationaldocuments,indebtedness,agreementsrelatedtothedisposition,votingordividendsoftheequityinterestsofArcticCatoranyofitssubsidiaries,authoritytoexecuteanddelivertheMergerAgreementandtoperformitsobligationsthereunderandtoconsummatethetransactionsascontemplatedbytheMergerAgreement,absenceofaCompanyMaterialAdverseEffectsinceMarch31,2016throughthedateoftheMergerAgreement,approvalsbytheArcticCatBoardandshareholdersof

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ArcticCat,takeoverlawsandbrokersshall,ifqualifiedbymaterialityorCompanyMaterialAdverseEffect,failtobetrueandcorrectinallrespectsor,ifnotsoqualified,shallfailtobetrueandcorrectinallmaterialrespects;

• therepresentationsandwarrantiesmadebyArcticCatintheMergerAgreementrelatingtoitsanditssubsidiaries'organizationandqualificationshallfailtobetrueandcorrectinallrespects;

• therepresentationsandwarrantiesmadebyArcticCatintheMergerAgreementrelatingtoArcticCat'scapitalizationshallfailtobetrueandcorrectinallrespects,exceptwherethefailuretobesotrueandcorrectinallrespectshasnotresultedandwouldnotreasonablybeexpectedtoresultinanincreaseintheaggregateconsiderationrequiredtobepaidbyPurchaserundertheMergerAgreement,individuallyorintheaggregate,bymorethan$500,000;

• theremainingrepresentationsandwarrantiesmadebyArcticCatintheMergerAgreement(withoutgivingeffecttoqualificationssetforththereinrelatingtomateriality,CompanyMaterialAdverseEffectorotherqualificationbasedontheword"material"orsimilarphrases)shallfailtobetrueandcorrectinanyrespect,exceptwherethefailureofsuchrepresentationsandwarrantiesofArcticCattobesotrueandcorrectwouldnothaveaCompanyMaterialAdverseEffect;

• ArcticCatbreachedorfailedtoperformorcomply,inanymaterialrespect,withanyagreementorcovenanttobeperformedorcompliedwithbyitundertheMergerAgreementandsuchbreachorfailureshallnothavebeencuredpriortotheExpirationDate;

• thereshallhaveoccurredsincethedateoftheMergerAgreementaCompanyMaterialAdverseEffect;

• TextronandPurchaserhavefailedtoreceiveacertificateexecutedbyArcticCat'sChiefExecutiveOfficerorPresidentonbehalfofArcticCat,datedasoftheExpirationDate,totheeffectthattheconditionssetforthinthesecondthroughseventhbulletpointsabovehavenotbeensatisfied;or

• theMergerAgreementhasbeenterminatedinaccordancewithitsterms.

TheforegoingconditionsareforthesolebenefitofTextronandPurchaserandmaybeassertedbyTextronorPurchaserregardlessofthecircumstancesgivingrisetosuchconditionsandmaybewaivedinwriting,aspermittedbyapplicablelaw,byTextronorPurchaserinwholeorinpartatanytimeandfromtimetotimeintheirsolediscretion,ineachcasesubjecttothetermsoftheMergerAgreement.

Termination of the Merger Agreement

TheMergerAgreementmaybeterminatedinthefollowingways:

• bymutualwrittenconsentofTextronandArcticCatatanytimepriortotheAcceptanceTime;

• byeitherTextronorArcticCatiftheAcceptanceTimehasnotoccurredonorbeforeMay24,2017,exceptthattherighttosoterminatetheMergerAgreementwillnotbeavailabletoTextronorArcticCatifitsfailuretofulfillanyagreementsorcovenantsundertheMergerAgreementhasbeentheprimarycauseorprimarilyresultedinthefailureoftheAcceptanceTimetooccuronorbeforesuchdate;

• byeitherTextronorArcticCatiftheOfferexpiresasaresultofthenon-satisfactionofanyconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchaseoristerminatedorwithdrawnpursuantto

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itstermswithoutanySharesbeingpurchasedthereunder,exceptthattherighttosoterminatetheMergerAgreementwillnotbeavailabletoTextronorArcticCatifitsbreachoftheMergerAgreementhasbeentheprimarycauseorprimarilyresultedinthenon-satisfactionofanyconditiontotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchaseortheterminationorwithdrawaloftheOfferpursuanttoitstermswithoutanySharesbeingpurchasedundertheOffer;

• byeitherTextronorArcticCatifanygovernmentalauthorityofcompetentjurisdictionhasenacted,issued,promulgated,enforcedorenteredanydecision,injunction,decree,ruling,lawororderpermanentlyenjoiningorotherwiseprohibitingormakingillegal(i)priortotheAcceptanceTime,theacceptanceforpaymentof,orpaymentfor,SharespursuanttotheOfferor(ii)priortotheEffectiveTime,theMerger,andsuchdecision,injunction,decree,ruling,laworordershallhavebecomefinalandnon-appealable,exceptthattherighttosoterminatetheMergerAgreementwillnotbeavailabletoTextronorArcticCatifitsbreachoftheMergerAgreementhasbeentheprimarycauseorprimarilyresultedintheissuanceofsuchdecision,injunction,decree,ruling,lawororder;

• byArcticCatpriortotheAcceptanceTimeif,foranyreason,PurchaserhasfailedtocommencetheOfferwithintwenty(20)calendardaysafterthedateoftheMergerAgreement,exceptArcticCatmaynotsoterminatetheMergerAgreementifArcticCathasnotprovidedTextronwithaSchedule14D-9thatArcticCatispreparedtofile,withoutfurtherrevisions;

• byArcticCatpriortotheAcceptanceTimeiftheArcticCatBoarddeterminestoenterintoadefinitiveagreementwithrespecttoaSuperiorProposal,providedthatArcticCathascompliedwiththenon-solicitationprovisionssetforthintheMergerAgreementanddescribedin"ThirdPartyAcquisitionProposals"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchase,andpriorto,andasaconditiontotheeffectivenessofsuchtermination,ArcticCathaspaidtoTextrontheCompanyTerminationFee(asdefinedbelow);

• byArcticCatpriortotheAcceptanceTimeifTextronorPurchaserhasbreachedanyofitsrepresentationsorwarrantiesorfailedtoperformanyofitscovenantsoragreementssetforthintheMergerAgreement,whichbreachorfailuretoperform(i)hadaParentMaterialAdverseEffectand(ii)isincapableofbeingcuredpriortoMay24,2017or,ifcurablebysuchdate,isnotcuredwithintheearlierofthirty(30)calendardaysafterwrittennoticethereofisgivenbyArcticCattoTextronandMay24,2017,exceptthattherighttosoterminatetheMergerAgreementwillnotbeavailabletoArcticCatifitistheninmaterialbreachofanyofitsrepresentations,warranties,covenantsoragreementsundertheMergerAgreement;

• byTextronpriortotheAcceptanceTimeiftheArcticCatBoardeffectedanAdverseAction(asdefinedbelow)orArcticCatoranyofitssubsidiariesentersintoanAcquisitionAgreement;

• byTextronpriortotheAcceptanceTimeifArcticCathasbreachedanyofitsrepresentationorwarrantiesorfailedtoperformanyofitscovenantsoragreementssetforthintheMergerAgreement,whichbreachorfailuretoperform(i)wouldgiverisetothefailureofanyconditiontotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"ofthisOffertoPurchaseand(ii)isincapableofbeingcuredpriortoMay24,2017,or,ifcurablebysuchdate,isnotcuredwithintheearlierofthirty(30)calendardaysafterwrittennoticethereofisgivenbyTextrontoArcticCatandMay24,2017,exceptthattherighttosoterminatetheMergerAgreementwillnotbeavailabletoTextronifeitheritorPurchaseristheninmaterialbreachofanyofitsrepresentations,warranties,covenantsoragreementsundertheMergerAgreement;

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• byTextronpriortotheAcceptanceTimeifArcticCathasintentionallybreached(orisdeemedtohaveintentionallybreached)itsnon-solicitationobligationssetforthintheMergerAgreementanddescribedin"ThirdPartyAcquisitionProposals"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchase;or

• byTextronpriortotheAcceptanceTimeiftherehasbeenaCompanyMaterialAdverseEffectsincethedateoftheMergerAgreementandthesameiscontinuing.

An"AdverseAction"meansthatArcticCatortheArcticCatBoardhas(i)effectedanAdverseRecommendationChange,(ii)failedtoincludetheCompanyBoardRecommendationintheSchedule14D-9ortopermitTextrontoincludetheCompanyBoardRecommendationintheOfferDocuments,(iii)refusedtoaffirmpubliclytheCompanyBoardRecommendationfollowinganyreasonablewrittenrequestbyTextrontoprovidesuchreaffirmation(includingintheeventofanAcquisitionProposalhavingbeenpubliclydisclosed)withintwo(2)businessdaysofsuchrequestor(iv)formallyresolvedtotake,orpubliclyannouncedanintentiontotake,anyoftheforegoingactions.

Termination Fee; Effect of Termination

IftheMergerAgreementisterminatedby(i)ArcticCatinthecircumstancesdescribedinthesixthbulletpointaboveunder"TerminationoftheMergerAgreement"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchase,thenArcticCatwillpayTextronaterminationfeeinanamountequalto$7,400,000(the"CompanyTerminationFee").

IftheMergerAgreementisterminatedbyTextroninthecircumstancesdescribedintheeighthortenthbulletpointsaboveunder"TerminationoftheMergerAgreement"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchase,thenArcticCatwillpayTextrontheCompanyTerminationFee.

IftheMergerAgreementisterminatedby(i)TextronorArcticCatinthecircumstancesdescribedinthesecondorthirdbulletpointsaboveunder"TerminationoftheMergerAgreement"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchase,or(ii)Textroninthecircumstancedescribedintheninthbulletpointaboveunder"TerminationoftheMergerAgreement"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchase,then,inthecaseofeitherclause(i)or(ii),if(A)atorpriortothedateofterminationoftheMergerAgreement,anAcquisitionProposalhasbeenpubliclyannounced,disclosedorotherwisemadepublicand(B)withintwelve(12)monthsofthedateofterminationoftheMergerAgreement,ArcticCatoranyofitssubsidiariesentersintoadefinitiveagreementwithrespecttoanyAcquisitionProposalorconsummatesanyAcquisitionProposal(ineachcase,whetherornotsuchAcquisitionProposalisthesameAcquisitionProposaldescribedinclause(A)),thenArcticCatwillpayTextrontheCompanyTerminationFee.Fortheavoidanceofdoubt,intheeventthattheMergerAgreementisterminatedbyArcticCatforanyreasonatatimewhenTextronwouldhavehadtherighttoterminatetheMergerAgreement,TextronwillbeentitledtoreceiptoftheCompanyTerminationFeethatwouldhavebeenpayablehadTextronterminatedtheMergerAgreementatsuchtime.Forpurposesofthisparagraph,"AcquisitionProposal"hasthemeaningdescribedabovein"ThirdPartyAcquisitionProposals"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchase,exceptthatreferencesto20%inthedefinitionwillbedeemedtobereferencesto50%.

ThepaymenttoTextronoritsdesigneesoftheCompanyTerminationFeeinthecircumstancesdescribedabovewill,exceptinthecaseoffraud,bethesoleandexclusiveremedyofTextronforanylosssufferedbyTextronorPurchaserasaresultofthefailureofthetransactionscontemplatedbytheMergerAgreementtobeconsummatedtotheextentpaidanduponpaymentoftheCompanyTerminationFeeinaccordancewiththetermsoftheMergerAgreement,ArcticCatwillhavenofurtherliabilityorobligationrelatingtoorarisingoutoftheMergerAgreementorthetransactionscontemplatedthereby.

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Obligations in Event of Termination

Intheeventofaterminationasdescribedabove,theMergerAgreementwillbecomevoidandofnofurtherforceoreffectexceptforcertainsectionsoftheMergerAgreement.SuchterminationwillnotrelieveanypartytotheMergerAgreementofanyliabilityforanyfraudorintentionalbreachofanyrepresentation,warrantyorcovenantorotheragreementcontainedintheMergerAgreementpriortothedateofsuchtermination,inwhichcasetheaggrievedpartywillbeentitledtoallrightsandremediesavailableatlaworinequity.

Expenses

WhetherthetransactionscontemplatedbytheMergerAgreementareorarenotconsummated,allcostsandexpensesincurredinconnectionwiththeMergerAgreementandthetransactionscontemplatedtherebywillbepaidbythepartyincurringsuchcostsandexpenses,subjecttoanypaymentsdescribedin"TerminationFee;EffectofTermination"inthisSection12(a)—"MergerAgreement"ofthisOffertoPurchase.

Amendment

AtanytimepriortotheEffectiveTime,theMergerAgreementmaybeamendedbyTextron,PurchaserandArcticCatbyactiontakenbyoronbehalfoftheirrespectiveboardofdirectors,exceptthataftertheAcceptanceTime,(i)noamendmentmaybemadethatdecreasestheMergerConsiderationand(ii)noamendmentthat,bylaworinaccordancewiththerulesofanyrelevantstockexchanges,requiresapprovalbytheshareholdersofArcticCatmaybemadewithoutsuchshareholderapproval.

Governing Law

TheMergerAgreementisgovernedbyandconstruedinaccordancewiththelawsoftheStateofDelaware,withoutgivingeffecttoanyapplicableprinciplesofconflictoflawsthatwouldcausethelawsofanotherstatetootherwisegoverntheMergerAgreement,excepttotheextentthattheMBCAmandatorilyappliesandgovernstheMerger.

Textron,PurchaserandArcticCathaveagreedthatanysuit,actionorproceedingseekingtoenforceanyprovisionof,orbasedonanymatterarisingoutoforinconnectionwith,theMergerAgreementorthetransactionscontemplatedthereby(whetherbroughtbyanypartytotheMergerAgreementoranyofitsaffiliatesoragainstanypartytotheMergerAgreementoranyofitsaffiliates)willbeheardanddeterminedexclusivelyintheDelawareCourtofChancery.However,iftheDelawareCourtofChancerydoesnothavejurisdictionoversuchAction,suchActionwillbeheardanddeterminedexclusivelyintheUnitedStatesDistrictCourtfortheDistrictofDelaware.

Specific Performance

Textron,PurchaserandArcticCathaveacknowledgedandagreedthateachwouldbeirreparablyharmedifanyoftheprovisionsoftheMergerAgreementarenotperformedinaccordancewiththeirspecifictermsorareotherwisebreached.Accordingly,Textron,PurchaserandArcticCatagreethat,intheeventofanybreachorthreatenedbreachbyanyotherpartyofanycovenantorobligationcontainedintheMergerAgreement,thenon-breachingpartywillbeentitled(inadditiontoanyotherremedythatmaybeavailabletoitwhetherinlaworequity)toseek(inadditiontoanyotherremedythatmaybeavailabletoitwhetherinlaworequity)(i)anorderofspecificperformancetoenforcetheobservanceandperformanceofsuchcovenantorobligationand(ii)aninjunctionrestrainingsuchbreachorthreatenedbreach.

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(b) Confidentiality Agreement .

InconnectionwithTextron'sevaluationofthepotentialbusinesscombinationthatresultedintheOffer,TextronandArcticCatenteredintoaconfidentialityagreementonOctober6,2016(the"Confidentiality Agreement ").PursuanttotheConfidentialityAgreement,subjecttocertaincustomaryexceptions,Textronagreedtokeepconfidentialallnon-publicinformationfurnishedbyArcticCattoTextron.Textronalsoagreedthatthenon-publicinformationfurnishedtoTextronwouldbeusedsolelyforthepurposeofevaluatingthepotentialbusinesscombinationthatresultedintheexecutionoftheMergerAgreementandthelaunchingoftheOffer.IfrequestedbyArcticCat,Textronisrequiredtoreturnordestroythewrittennon-publicinformationfurnishedtoTextronundertheConfidentialityAgreement(exceptforonecopytoberetainedforcomplianceandregulatorypurposes).TheConfidentialityAgreementalsoprovidesthatTextronanditsaffiliatesmaynotsolicitArcticCat'semployeesforthetermoftheConfidentialityAgreementandforaperiodofeighteen(18)monthsfollowingtheexpirationorterminationoftheConfidentialityAgreement.Textronalsoagreedthat,forthetermoftheConfidentialityAgreementandforaperiodofeighteen(18)monthsfollowingtheexpirationorterminationoftheConfidentialityAgreement,itwouldnotproposeoroffertoenterintoanymergerorotherextraordinarytransactionorparticipateinanychangeofcontrolofArcticCat,ordiscloseanysuchintentiontodoso,withoutthepriorwrittenconsentofArcticCat'sBoardandMinnesotaActCommittee.TextronalsoagreedtoindemnifyArcticCatdamagesarisingfromamaterialbreachoftheConfidentialityAgreement.TheConfidentialityAgreementexpiresonOctober6,2017.

TheabovesummaryofcertainprovisionsoftheConfidentialityAgreementisqualifiedinitsentiretybyreferencetotheConfidentialityAgreementitself,whichisincorporatedhereinbyreferenceandacopyofwhichisfiledasExhibit (d)(2) .

13. Source and Amount of Funds

TheOfferisnotconditionedontheprocurementofanyfinancing.PurchaserestimatesthatthetotalamountoffundsrequiredtopurchasealloutstandingSharespursuanttotheOfferandtocompletetheMerger,topayrelatedfeesandexpensesandtorepayoutstandingindebtednessundertheExistingCreditAgreementwillbeapproximately$317million.PurchaserintendstoobtainsuchfundsbymeansofacapitalcontributionfromTextron,andTextronintendstoobtainsuchfundsfromitscashonhand.

PurchaserbelievesthatthefinancialconditionofTextronandPurchaserisnotmaterialtoadecisionbyaholderofShareswhethertosell,holdortenderSharesintheOfferbecause(a)theOfferisbeingmadeforalloutstandingSharessolelyforcash,(b)Purchaser,throughitsparentcompany,Textron,willhavesufficientfundsandfinancialresourcesavailabletopurchaseallSharesvalidlytenderedintheOfferoracquiredintheMerger,(c)theOfferisnotsubjecttoanyfinancingconditionand(d)ifPurchaserconsummatestheOffer,TextronwillacquireanyremainingSharesforthesamecashpriceintheMerger.

14. Dividends and Distributions

TheMergerAgreementprovidesthat,withoutthepriorwrittenconsentofTextronorasmayberequiredbylaw,ArcticCatwillnot,andwillnotpermitanyofitssubsidiariesto,priortotheEffectiveTime,directlyorindirectly,declare,setaside,makeorpayanydividendorotherdistribution(whetherpayableincash,stock,propertyoracombinationthereof)withrespecttoanyofitscapitalstock,otherthandividendsorotherdistributionspaidbyanydirectorindirectwhollyownedsubsidiaryofArcticCattoArcticCatoranyotherdirectorindirectwhollyownedsubsidiaryofArcticCat.SeeSection12—"MergerAgreement;OtherAgreements"ofthisOffertoPurchase.

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15. Conditions of the Offer

SubjecttoanyapplicablerulesandregulationsoftheSEC,includingRule14e-1(c)promulgatedundertheExchangeAct,PurchaserisnotrequiredtoacceptforpaymentorpayforanyvalidlytenderedSharesintheOfferandmaydelaysuchacceptanceorpaymentif:

• theMinimumConditionhasnotbeensatisfiedattheExpirationDate;

• thewaitingperiodapplicabletotheconsummationoftheOfferundertheHSRActhasnotexpiredorbeenterminatedatorpriortotheExpirationDateandanyconsent,approval,orotherauthorizationapplicabletotheconsummationoftheOfferundertheantitrustlawsofGermanyhasnotbeenreceivedorgranted;or

• atanytimeonorafterthedateoftheMergerAgreementandpriortotheExpirationDate,anyofthefollowinghasoccurredandiscontinuingattheExpirationDate:

• agovernmentalauthorityofcompetentjurisdictionhasenacted,issued,promulgated,enforcedorenteredanydecision,injunction,decree,ruling,lawororder(whethertemporary,preliminaryorpermanent)thatisineffectandenjoinsorotherwiseprohibitsormakesillegaltheconsummationofthetransactionscontemplatedbytheMergerAgreementonthetermscontemplatedbytheMergerAgreement(providedthatTextronandPurchaserhaveusedtheirreasonablebesteffortstoopposeanysuchactionbysuchgovernmentalauthorityinaccordancewiththetermsoftheMergerAgreement);

• therepresentationsandwarrantiesmadebyArcticCatintheMergerAgreementrelatingtoArcticCat'ssubsidiaries,organizationaldocuments,indebtedness,agreementsrelatedtothedisposition,votingordividendsoftheequityinterestsofArcticCatoranyofitssubsidiaries,authoritytoexecuteanddelivertheMergerAgreementandtoperformitsobligationsthereunderandtoconsummatethetransactionsascontemplatedbytheMergerAgreement,absenceofaCompanyMaterialAdverseEffectsinceMarch31,2016throughthedateoftheMergerAgreement,approvalsbytheArcticCatBoardandshareholdersofArcticCat,takeoverlawsandbrokersshall,ifqualifiedbymaterialityorCompanyMaterialAdverseEffect,failtobetrueandcorrectinallrespectsor,ifnotsoqualified,shallfailtobetrueandcorrectinallmaterialrespects;

• therepresentationsandwarrantiesmadebyArcticCatintheMergerAgreementrelatingtoitsanditssubsidiaries'organizationandqualificationshallfailtobetrueandcorrectinallrespects;

• therepresentationsandwarrantiesmadebyArcticCatintheMergerAgreementrelatingtoArcticCat'scapitalizationshallfailtobetrueandcorrectinallrespects,exceptwherethefailuretobesotrueandcorrectinallrespectshasnotresultedandwouldnotreasonablybeexpectedtoresultinanincreaseintheaggregateconsiderationrequiredtobepaidbyPurchaserundertheMergerAgreement,individuallyorintheaggregate,bymorethan$500,000;

• theremainingrepresentationsandwarrantiesmadebyArcticCatintheMergerAgreement(withoutgivingeffecttoqualificationssetforththereinrelatingtomateriality,CompanyMaterialAdverseEffectorotherqualificationbasedontheword"material"orsimilarphrases)shallfailtobetrueandcorrectinanyrespect,exceptwherethefailureofsuchrepresentationsandwarrantiesofArcticCattobesotrueandcorrectwouldnothaveaCompanyMaterialAdverseEffect;

• ArcticCatbreachedorfailedtoperformorcomply,inanymaterialrespect,withanyagreementorcovenanttobeperformedorcompliedwithbyitundertheMerger

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AgreementandsuchbreachorfailureshallnothavebeencuredpriortotheExpirationDate;

• thereshallhaveoccurredsincethedateoftheMergerAgreementaCompanyMaterialAdverseEffect;

• TextronandPurchaserhavefailedtoreceiveacertificateexecutedbyArcticCat'sChiefExecutiveOfficerorPresidentonbehalfofArcticCat,datedasoftheExpirationDate,totheeffectthattheconditionssetforthinthesecondthroughseventhbulletpointsabovehavenotbeensatisfied;or

• theMergerAgreementhasbeenterminatedinaccordancewithitsterms.

TheforegoingconditionsareforthesolebenefitofTextronandPurchaserandmaybeassertedbyTextronorPurchaserregardlessofthecircumstancesgivingrisetosuchconditionsandmaybewaivedinwriting,aspermittedbyapplicablelaw,byTextronorPurchaserinwholeorinpartatanytimeandfromtimetotimeintheirsolediscretion,ineachcasesubjecttothetermsoftheMergerAgreement.

16. Legal Matters; Required Regulatory Approvals

General. ExceptassetforthinthisOffertoPurchase,basedonitsexaminationofpubliclyavailableinformationfiledbyArcticCatwiththeSECandotherpubliclyavailableinformationconcerningArcticCat,neitherTextronnorPurchaserisawareofanylicensesorregulatorypermitsthatappeartobematerialtothebusinessofArcticCatanditssubsidiaries,takenasawhole,thatmightbeadverselyaffectedbyPurchaser'sacquisitionofSharesintheOffer,orofanyfilings,approvalsorotheractionsbyorwithanygovernmentalauthorityoradministrativeorregulatoryagencythatwouldberequiredforouracquisitionorownershipoftheSharespursuanttotheOffer.Shouldanysuchapprovalorotheractionberequired,TextronandPurchaserexpecttoseeksuchapprovaloraction,exceptasdescribedinSection16—"LegalMatters;RequiredRegulatoryApprovals—StateTakeoverLaws"ofthisOffertoPurchase.Therecanbenoassurancethatanysuchapprovalorotheraction,ifrequired,wouldbeobtainedorwouldbeobtainedwithoutsubstantialconditions,orthatadverseconsequencestoArcticCat'sbusinessmightnotresult.ExceptasotherwisedescribedinthisOffertoPurchase,althoughneitherTextronnorPurchaserpresentlyintendstodelaytheacceptanceforpaymentoforpaymentforSharestenderedintheOfferpendingtheoutcomeofanysuchmatter,therecanbenoassurancethatanysuchapprovalorotheraction,ifneeded,wouldbeobtainedorwouldbeobtainedwithoutsubstantialconditionsorthatthefailuretoobtainanysuchapprovalorotheractionmightnotresultinconsequencesadversetoArcticCat'sbusinessorthatcertainpartsofArcticCat'sbusinessmightnothavetobedisposedoforothersubstantialconditionscompliedwithintheeventthatsuchapprovalswerenotobtainedorsuchotheractionswerenottakenorinordertoobtainanysuchapprovalorotheraction.

State Takeover Laws. Anumberofstates(includingMinnesota,whereArcticCatisincorporated)haveadoptedtakeoverlawsandregulationswhichpurport,tovaryingdegrees,tobeapplicabletoattemptstoacquiresecuritiesofcorporationswhichareincorporatedinsuchstatesorwhichhavesubstantialassets,shareholders,principalexecutiveofficesorprincipalplacesofbusinesstherein.

ArcticCatisincorporatedunderthelawsoftheStateofMinnesota.UndertheMBCAandotherMinnesotastatutes,ArcticCatissubjecttoseveralstatetakeoverlaws.Asdescribedbelow,ArcticCathastakenappropriateactioninconnectionwithitsapprovaloftheMergerAgreementandtheconsummationofthetransactionscontemplatedtherebysothattheselawsdonotaffecttheabilityofTextronandPurchasertoconsummatetheOfferortheMerger.

Minnesota Control Share Acquisition Act. Section302A.671oftheMBCA,whichprovidesthatapersonwhobecomesthebeneficialownerof20%ormoreofthevotingpower(withrespecttotheelectionofdirectors)ofthesharesofan"issuingpubliccorporation"(a"ControlShareAcquisition")

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mayexerciseonlyanaggregateof20%ofthevotingpowerofthecorporation'ssharesintheabsenceofspecialapprovalbytheshareholders.However,aControlShareAcquisitionundertheMBCAspecificallyexcludes(i)anacquisitionundertheMBCAprovisionsrelatedtomergersifthecorporationisapartytothetransactionand(ii)anacquisitionpursuanttoacashtenderofferorexchangeofferforallsharesofthecorporation'svotingstock.OnJanuary23,2017,theArcticCatCommitteeofDisinterestedDirectorsapprovedtheacquisitionofsharesbyPurchasercontemplatedbytheMergerAgreement,towhichArcticCatisaparty,forpurposesoftheMBCA;therefore,therestrictionsofSection302A.671oftheMBCAareinapplicabletotheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMerger.

Minnesota Business Combination Act. ArcticCatiscurrentlysubjecttoSection302A.673oftheMBCA,whichprohibitsapubliclyheldMinnesotacorporation,suchasArcticCat,fromengaginginany"businesscombination,"includingamerger,withan"InterestedShareholder"(definedgenerallyasanybeneficialowner,directlyorindirectly,of10%ormoreofthevotingpoweroftheoutstandingsharesofthatcorporationentitledtovote)foraperiodoffour(4)yearsafterthedateofthetransactioninwhichthepersonbecameanInterestedShareholder,unless,amongotherthings,acommitteeofthatcorporation'sboardofdirectorscomprisedsolelyofoneormoredisinteresteddirectorshasgivenitsapprovalofeitherthebusinesscombinationorthetransactionthatresultedintheshareholderbecominganInterestedShareholderpriortotheshareholderbecominganInterestedShareholder.UndertheMBCA,adirectororpersonis"disinterested"ifthedirectororpersonisneitheranofficernoranemployee,norhasbeenanofficeroremployeewithinfive(5)yearsprecedingtheformationofthecommittee,ofthepubliclyheldMinnesotacorporationorofarelatedorganization.OnJanuary23,2017,theArcticCatCommitteeofDisinterestedDirectorsapprovedtheacquisitionofsharesbyPurchasercontemplatedbytheMergerAgreementforpurposesoftheMBCA;therefore,therestrictionsofSection302A.673oftheMBCAareinapplicabletotheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMerger.

Minnesota "Fair Price" Provision. MBCASection302A.675providesthatanofferormaynotacquiresharesofaMinnesotapubliclyheldcorporationfromashareholderwithintwo(2)yearsfollowingtheofferor'slastpurchaseofsharesofthesameclasspursuanttoatakeoveroffer,including,butnotlimitedto,acquisitionsmadebypurchase,exchangeormerger,unlessthesellingshareholder`isafforded,atthetimeoftheproposedacquisition,areasonableopportunitytodisposeofthesharestotheofferoruponsubstantiallyequivalenttermsasthoseprovidedintheearliertakeoveroffer.Theprovisiondescribedabovedoesnotapplyiftheproposedacquisitionofsharesisapproved,beforethepurchaseofanysharesbytheofferorpursuanttotheearliertakeoveroffer,byacommitteeoftheboardofdirectorsofthecorporation,comprisedsolelyofdirectorswho:(a)arenot,norhavebeenintheprecedingfive(5)years,officersoremployeesofthecorporationorarelatedorganization,(b)arenottheofferorsinthetakeoverofferoranyaffiliatesorassociatesoftheofferor,(c)werenotnominatedforelectionasdirectorsbytheofferororanyaffiliatesorassociatesoftheofferorand(d)weredirectorsatthetimeofthefirstpublicannouncementoftheearliertakeoverofferorwerenominated,elected,orrecommendedforelectionasdirectorsbyamajorityofthedirectorswhoweredirectorsatthattime.OnJanuary23,2017,theArcticCatCommitteeofDisinterestedDirectorsapprovedthetakeoverofferbyPurchasercontemplatedintheMergerAgreementforpurposesoftheFairPriceProvision;therefore,therestrictionsofSection302A.675areinapplicabletotheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMerger.

Minnesota Takeover Disclosure Law. TheMinnesotaTakeoverDisclosureLaw(the"TakeoverDisclosureStatutes"),MinnesotaStatutesSections80B.01-80B.13,byitstermsrequiresthefilingofaregistrationstatement(the"MinnesotaRegistrationStatement")withspecifieddisclosureswiththeMinnesotaCommissionerofCommerce(the"CommissionerofCommerce")withrespecttoanytenderofferforsharesofacorporation,suchasArcticCat,that(a)hasitsprincipalplaceofbusinessorprincipalexecutiveofficeinMinnesota,orownsandcontrolsassetsinMinnesotahavingafairmarket

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valueofatleast$1,000,000and(b)hasacertainnumberorpercentageofshareholdersresidentinMinnesotaoraspecifiedpercentageofitssharesownedbyMinnesotaresidents.PurchaserfiledtheMinnesotaRegistrationStatementwiththeCommissionerofCommerceonFebruary2,2017.AlthoughtheCommissionerofCommercedoesnothaveanapprovalrightwithrespecttotheOffer,theCommissionerofCommercewillreviewtheMinnesotaRegistrationStatementfortheadequacyofdisclosureandisempoweredtosuspendsummarilytheOfferinMinnesotawithinthree(3)businessdaysofthefilingiftheCommissionerofCommercedeterminesthattheregistrationstatementdoesnot(orthematerialprovidedtobeneficialownersoftheSharesresidinginMinnesotadoesnot)provideadequatedisclosureundertheTakeoverDisclosureStatutes.Ifthissummarysuspensionoccurs,theCommissionerofCommercemustholdahearingwithinten(10)calendardaysofthesummarysuspensiontodeterminewhethertopermanentlysuspendtheOfferinMinnesota,subjecttocorrectivedisclosure.IftheCommissionerofCommercetakesactiontosuspendtheeffectivenessoftheOffer,thisactionmayhavetheeffectofsignificantlydelayingtheOffer.InfilingtheMinnesotaRegistrationStatement,PurchaserdoesnotconcedethatsomeoralloftheprovisionsoftheTakeoverDisclosureStatutesareapplicable,valid,enforceableorconstitutional.

Other State Takeover Laws. TextronandPurchaserarenotawareofanyotherstatetakeoverlawsorregulationswhichareapplicabletotheOfferortheMergerandhavenotattemptedtocomplywithanyotherstatetakeoverlawsorregulations.IfanygovernmentofficialorthirdpartyshouldseektoapplyanystatetakeoverlawtotheOfferortheMergerorotherbusinesscombinationbetweenTextronandPurchaseroranyoftheiraffiliatesandArcticCat,TextronandPurchaserwilltakesuchactionasthenappearsdesirable,whichactionmayincludechallengingtheapplicabilityorvalidityofsuchstatuteinappropriatecourtproceedings.IntheeventitisassertedthatoneormorestatetakeoverstatutesisapplicabletotheOfferortheMergerandanappropriatecourtdoesnotdeterminethatitisinapplicableorinvalidasappliedtotheOfferortheMerger,TextronandPurchasermightberequiredtofilecertaininformationwith,ortoreceiveapprovalsfrom,therelevantstateauthoritiesorholdersofShares,andTextronandPurchasermightbeunabletoacceptforpaymentorpayforSharestenderedpursuanttotheOffer,orbedelayedincontinuingorconsummatingtheOfferortheMerger.SeeSection15—"ConditionsoftheOffer"ofthisOffertoPurchase.

The foregoing discussion of certain provisions of the MBCA is not a complete description of the MBCA or of those provisions thereof and is qualified inits entirety by reference to the MBCA.

Antitrust Compliance. UndertheHart-Scott-RodinoAntitrustImprovementsActof1976,asamended,andtherulesandregulationsthathavebeenpromulgatedthereunder(the"HSRAct"),certaintransactionsmaynotbeconsummateduntilnotificationshavebeengivenandcertaininformationhasbeenfurnishedtotheAntitrustDivisionoftheU.S.DepartmentofJustice(the"AntitrustDivision")andtheFederalTradeCommission(the"FTC")andcertainwaitingperiodrequirementshaveexpiredorbeenterminated.AlthoughTextrondoesnotexpecttheseoranyotherregulatoryauthoritiestoraiseanysignificantconcernsinconnectionwiththeirreviewofthetransactionscontemplatedbytheMergerAgreement,therecanbenoassurancethatallapplicablewaitingperiodsdescribedabovewillexpireorbeterminated,and,iftheydoexpireorareterminatedtherecanbenoassuranceastothetimingortheabsenceofanylitigationchallengingthetransactions.TheNotificationandReportFormwasfiledonJanuary31,2017.Accordingly,therequiredfifteen(15)daywaitingperiodwillexpireat11:59P.M.NewYorkCitytimeonFebruary15,2017.

TheacquisitionofSharespursuanttotheOfferissubjecttotheGermanActagainstRestraintsonCompetition,andmaybeconsummatedonlyiftheacquisitionisapprovedbytheGermanFederalCartelOffice(the"FCO"),eitherbywrittenapprovalorbyexpirationofaone-monthreviewperiod,unlesstheFCOnotifiesTextronwithintheone-monthreviewperiodoftheinitiationofanin-depthinvestigation.TextronfiledanotificationonJanuary30,2017withrespecttotheOffer.Theone-monthreviewperiodisscheduledtoexpireonFebruary28,2017.IftheFCOinitiatesanin-depthinvestigation,thereviewperiodisextendedforanadditionalthree(3)months,andtheacquisitionof

69

SharesundertheOffermaynotbeconsummatedunlesstheacquisitionisapprovedbytheFCO,eitherbywrittenapprovalorbyexpirationofthereviewperiodassoextended.

Otherthanthefilingsdescribedabove,Textronisnotawareofanymandatoryregulatoryfilingstobemade,approvalstobeobtainedorrequiredwaitingperiodstoexpireinordertoconsummatetheOfferortheothertransactionscontemplatedbytheMergerAgreement.Ifanysuchapprovaloractionisneeded,however,Textronmaynotbeabletoobtainitoranyoftheothernecessaryapprovals.EvenifTextroncouldobtainallnecessaryapprovals,conditionsmaybeplacedontheOfferortheMerger,onthebusinessesofTextronoronthoseofArcticCatthatcouldcausethepartiestofailtoconsummatethetransactions.

AtanytimebeforeorafterPurchaser'sacquisitionofSharespursuanttotheOffer,theAntitrustDivision,theFTC,orothers(includingforeigngovernmentalauthoritieswithjurisdictionovertheparties,statesandprivateparties)couldtakeactionundertheantitrustlaws,includingseekingtoenjointhepurchaseofSharespursuanttotheOffer,orseekingthedivestitureofSharesacquiredbyPurchaserorthedivestitureofsubstantialassetsofArcticCatoritssubsidiariesorTextronoritssubsidiaries.AlthoughthereisnoassurancethatachallengetotheOfferonantitrustgroundswillnotbemadeor,ifsuchachallengeismaderegardingtheresultthereof,Textrondoesnotexpectanygovernmentalauthority,stateorprivatepartytotakelegalactionundertheantitrustlaws.

17. Fees and Expenses

TextronhasretainedAllianceAdvisorsLLCasInformationAgentinconnectionwiththeOffer.TheInformationAgentmaycontacttheshareholdersofArcticCatbymail,telephoneandpersonalinterviewandmayrequestbrokers,dealers,commercialbanks,trustcompaniesandothernomineeshareholderstoforwardmaterialrelatingtotheOffertobeneficialownersofShares.TextronwillpaytheInformationAgentreasonableandcustomarycompensationfortheseservicesinadditiontoreimbursingtheInformationAgentforcertainout-of-pocketexpenses.TextronhasagreedtoindemnifytheInformationAgentandrelatedpartiesagainstcertainliabilitiesandexpensesinconnectionwiththeOffer.Inaddition,TextronandPurchaserhaveretainedWellsFargoBank,N.A.asDepositaryandPayingAgentinconnectionwiththeOffer.TextronwillpaytheDepositaryandPayingAgentreasonableandcustomarycompensationforitsservicesinconnectionwiththeOffer,willreimbursetheDepositaryandPayingAgentforcertainout-of-pocketexpenses,andwillindemnifytheDepositaryandPayingAgentagainstcertainliabilitiesandexpensesinconnectionwiththeOffer.

Exceptassetforthabove,neitherTextronnorPurchaserwillpayanyfeesorcommissionstoanybroker,dealer,commercialbank,trustcompanyorothernomineeforsolicitingtendersofSharespursuanttotheOffer.Textronwillreimbursebrokers,dealers,commercialbanksandtrustcompaniesandothernominees,uponrequest,forcustomaryclericalandmailingexpensesincurredbytheminforwardingofferingmaterialstotheircustomers.

18. Miscellaneous

NeitherTextronnorPurchaserisawareofanyjurisdictionwherethemakingoftheOfferisprohibitedbyanyadministrativeorjudicialactionpursuanttoanyvalidstatestatute.IfTextronorPurchaserbecomesawareofanyvalidstatestatuteprohibitingthemakingoftheOfferortheacceptanceoftheShares,TextronandPurchaserwillmakeagoodfaithefforttocomplywiththatstatestatute.If,afteragoodfaitheffort,TextronandPurchasercannotcomplywiththestatestatute,PurchaserwillnotmaketheOfferto,norwillPurchaseraccepttendersfromoronbehalfof,shareholdersofArcticCatinthatstate.Textron,TextronSpecializedVehiclesandPurchaserhavefiledwiththeSECthisScheduleTOpursuanttoRule14d-3promulgatedundertheExchangeAct,togetherwithexhibitsfurnishingcertainadditionalinformationwithrespecttotheOffer,andmayfileamendmentsthereto.Inaddition,ArcticCathasfiledwiththeSECtheSchedule14D-9,togetherwith

70

exhibits,pursuanttoRule14d-9promulgatedundertheExchangeAct,settingforththerecommendationoftheArcticCatBoardwithrespecttotheOfferandthereasonsfortherecommendationoftheArcticCatBoardandfurnishingcertainadditionalrelatedinformation.Acopyofthesedocuments,andanyamendmentsthereto,maybeexaminedat,andcopiesmaybeobtainedfrom,theSECinthemannersetforthunderSection8—"CertainInformationConcerningArcticCat"andSection9—"CertainInformationConcerningTextron,TextronSpecializedVehiclesandPurchaser"ofthisOffertoPurchase.

None of Textron, Textron Specialized Vehicles or Purchaser has authorized any person to give any information or to make any representation on behalfof Textron or Purchaser not contained in this Offer to Purchase or in the related Letter of Transmittal, and, if given or made, shareholders should not relyon any such information or representation as having been authorized.

NeitherthedeliveryofthisOffertoPurchasenoranypurchasepursuanttotheOfferwill,underanycircumstances,createanyimplicationthattherehasbeennochangeintheaffairsofTextron,Purchaser,ArcticCatoranyoftheirrespectivesubsidiariessincethedateasofwhichsuchinformationisfurnishedorthedateofthisOffertoPurchase.

ACESACQUISITIONCORP.

February2,2017

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SCHEDULE I

INFORMATION CONCERNING THE DIRECTORS AND EXECUTIVE OFFICERS OF TEXTRON INC., TEXTRON SPECIALIZED VEHICLES INC.AND ACES ACQUISITION CORP.

TEXTRON INC.

Thefollowingtablesetsforththename,presentprincipaloccupationoremployment,andmaterialoccupations,positions,officesoremploymentforatleastthepastfive(5)yearsofeachofthemembersoftheboardofdirectorsandeachexecutiveofficerofTextronInc.Unlessotherwisenoted,thecurrentbusinessaddressofeachpersonidentifiedbelowis40WestminsterStreet,Providence,RhodeIsland02903andthecurrentbusinessphonenumberofeachoftheseindividualsis(401)421-2800.Unlessotherwisenoted,eachpersonidentifiedbelowisacitizenoftheUnitedStatesofAmerica.

72

Name, Citizenship and Business Address (If Applicable) Office

Present Principal Occupation

or Employment

Material Positions Held During

the Past Five (5) Years

KathleenM.Bader Director Retired Director,TysonFoods,Inc.(2011—2015)

R.KerryClarkCitizenoftheUnitedStatesofAmericaandCanada

Director Retired Director,GeneralMills,Inc.(2009—Present)

Director,Avnet,Inc.(2012—Present)

Director,Anthem,Inc.(2014—Present)

Director,HauserPrivateEquityLLC(2013—Present)

FrankT.Connor ExecutiveVicePresidentandChiefFinancialOfficer

ExecutiveVicePresidentandChiefFinancialOfficer,TextronInc.

Sameaspresentemployment(2009—Present)

JamesT.Conway Director Retired Director,xGTechnology,Inc.(2015—Present)

ScottC.Donnelly ChairmanoftheBoard,PresidentandChiefExecutiveOfficer

ChairmanoftheBoard,PresidentandChiefExecutiveOfficer,TextronInc.

Sameaspresentemployment(2009—Present)

Director,Medtronicplc.(2013—Present)

IvorJ.Evans Director Retired ExecutiveChairmanoftheBoard,Meritor,Inc.(2015—2016)

73

Name, Citizenship and Business Address (If Applicable) Office

Present Principal Occupation

or Employment

Material Positions Held During

the Past Five (5) Years

ChairmanandChiefExecutiveOfficer,Meritor,Inc.(2013—2015)

President,Meritor,Inc.(2013—2014)

ExecutiveChairmanandInterimChiefExecutiveOfficerandPresident,Meritor,Inc.(2013)

Director,Meritor,Inc.(2005—Present)

OperatingPartner,HCIEquityPartners(formerly,Thayer--HiddenCreek)(2005—2015)

Director,CooperIndustries(2003—2012)

Director,RoadrunnerTransportationSystems,Inc.(2004—2014)

Director,SpiritAeroSystemsHoldings,Inc.(2005—2015)

LawrenceK.Fish Director Retired ChairmanoftheBoardofDirectors,HoughtonMifflinHarcourt(2010—Present)

Director,Tiffany&Co.(2008—Present)

Director,NationalBankHoldingsCorporation(2010—2015)

PaulE.GagnéCitizenofCanada

Director ChairmanoftheBoard,WajaxCorporation

Director,WajaxCorporation(1996—Present)

74

Name, Citizenship and Business Address (If Applicable) Office

Present Principal Occupation

or Employment

Material Positions Held During

the Past Five (5) Years

Director,CAEInc.(2008—Present)

Director,NorbordInc.(formerly,AinsworthLumberCo.Ltd.)(2011—Present)

Director,InmetMiningCorporation(1996—2013)

DainM.Hancock Director Retired Notapplicable

CherylH.Johnson ExecutiveVicePresident,HumanResources

ExecutiveVicePresident,HumanResources,TextronInc.

DirectorofTalentandOrganizationalDevelopment,BellHelicopterTextronInc.(2011—2012)

RalphD.Heath Director Retired ExecutiveVicePresident,AeronauticsofLockheedMartinCorporation(2005—2012)

E.RobertLupone ExecutiveVicePresident,GeneralCounsel,SecretaryandChiefCompliance

ExecutiveVicePresident,GeneralCounsel,SecretaryandChiefCompliance

GeneralCounsel(Americas),SiemensAG(2008—2012)

Officer Officer,TextronInc. SeniorVicePresidentandGeneralCounsel,SiemensCorporation(US)(1999—2012)

LordPowellofBayswaterKCMGCitizenoftheUnitedKingdomofGreat

Director Retired Director,LVMHMoëtHennessy-LouisVuitton(1996—Present)

BritainandNorthernIreland

Director,MandarinOrientalInternationalLimited(1992—Present)

Director,HongKongLandHoldingsLimited(2008—Present)

Director,CaterpillarInc.(2001—2013)

75

Name, Citizenship and Business Address (If Applicable) Office

Present Principal Occupation

or Employment

Material Positions Held During

the Past Five (5) Years

Director,SchindlerHoldingLtd.(2003—2014)

AdvisoryDirector,NorthernTrustCorp.(2015—Present)

LloydG.Trotter Director ManagingPartner,GenNx360CapitalPartners

Sameaspresentemployment(2009—Present)

Director,PepsiCo,Inc.(2008—Present)

Director,Meritor,Inc.(2015—Present)

Member,SupervisoryBoard,DaimlerA.G.(2009—2014)

JamesL.Ziemer Director Retired Director,ThorIndustries,Inc.(2010—Present)

MariaT.Zuber Director VicePresidentforResearchandtheE.A.GriswoldProfessorofGeophysics

Sameaspresentemployment(2012—Present)

attheMassachusettsInstituteofTechnology

MemberofFacultyofDepartmentofEarth,AtmosphericandPlanetarySciences(1995—Present)

Member,NationalScienceBoard(2013—Present)

Chair,NationalScienceBoard(2016—Present)

TEXTRON SPECIALIZED VEHICLES INC.

Thefollowingtablesetsforththename,presentprincipaloccupationoremployment,andmaterialoccupations,positions,officesoremploymentforatleastthepastfive(5)yearsofeachmemberoftheboardofdirectorsandeachexecutiveofficerofTextronSpecializedVehiclesInc.Unlessotherwisenoted,thecurrentbusinessaddressofeachpersonidentifiedbelowis1451MarvinGriffinRoad,Augusta,Georgia30906,andthecurrentbusinessphonenumberofeachoftheseindividualsis(706)798-4311.Unlessotherwisenoted,eachpersonidentifiedbelowisacitizenoftheUnitedStatesofAmerica.

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Name, Citizenship and Business Address (If Applicable) Office

Present Principal Occupation or Employment

Material Positions Held During the

Past Five (5) YearsKevinP.Holleran Director,PresidentandChief

ExecutiveOfficer PresidentandChiefExecutive

Officer,IndustrialSegment,TextronInc.

PresidentandChiefExecutiveOfficer,E-Z-GODivisionofTextronInc.(2007—2014)

Director,PresidentandChiefExecutiveOfficer,TextronSpecializedVehiclesInc.

RodericParson DirectorandChiefFinancialOfficer DirectorandVicePresident—Finance,TextronSpecializedVehiclesInc.

VicePresent—Finance,JacobsenDivisionofTextronInc.(2012—2016)

DanielB.Tidwell DirectorandSecretary DirectorandVicePresident,GeneralCounselandSecretary,TextronSpecializedVehiclesInc.

GeneralCounsel,E-Z-GOandJacobsenDivisionsofTextronInc.(2013—2014)

AssistantGeneralCounsel,BellHelicopterTextronInc.(2010—2013)

ACES ACQUISITION CORP.

Thefollowingtablesetsforththename,presentprincipaloccupationoremployment,andmaterialoccupations,positions,officesoremploymentforatleastthepastfive(5)yearsofeachmemberoftheboardofdirectorsandeachexecutiveofficerofAcesAcquisitionCorp.Unlessotherwisenoted,thecurrentbusinessaddressofeachpersonidentifiedbelowis1451MarvinGriffinRoad,Augusta,Georgia30906,andthecurrentbusinessphonenumberofeachoftheseindividualsis(706)798-4311.Unlessotherwisenoted,eachpersonidentifiedbelowisacitizenoftheUnitedStatesofAmerica.

77

Name, Citizenship and Business Address (If Applicable) Office

Present Principal Occupation or Employment

Material Positions Held During the

Past Five (5) YearsKevinP.Holleran Director,ChiefExecutiveOfficerand

President PresidentandChiefExecutive

Officer,IndustrialSegment,TextronInc.

PresidentandChiefExecutiveOfficer,E-Z-GODivisionofTextronInc.(2007—2014)

Director,PresidentandChiefExecutiveOfficer,TextronSpecializedVehiclesInc.

RodericParson DirectorandChiefFinancialOfficer DirectorandVicePresident—Finance,TextronSpecializedVehiclesInc.

VicePresident—Finance,JacobsenDivisionofTextronInc.(2012—2016)

ElizabethC.Perkins40WestminsterStreet,Providence,RhodeIsland02903(401)457-2200

VicePresident VicePresidentandDeputyGeneralCounsel,TextronInc.

Sameaspresentemployment(2011—Present)

DanielB.Tidwell DirectorandSecretary DirectorandVicePresident,GeneralCounselandSecretary,TextronSpecializedVehiclesInc.

GeneralCounsel,E-Z-GOandJacobsenDivisionsofTextronInc.(2013—2014)

AssistantGeneralCounsel,BellHelicopterTextronInc.(2010—2013)

TheLetterofTransmittal,CertificatesandanyotherrequireddocumentsshouldbesentordeliveredbyeachshareholderofArcticCatorsuchshareholder'sbroker,dealer,commercialbank,trustcompanyorothernomineetotheDepositaryatoneofitsaddressessetforthbelow:

The Depositary for the Offer is:

WellsFargoBank,N.A.

YoumaydirectquestionsandrequestsforassistancetotheInformationAgentatitsaddressandtelephonenumbersetforthbelow.YoumayobtainadditionalcopiesofthisOffertoPurchase,therelatedLetterofTransmittalandothertenderoffermaterialsfromtheInformationAgentassetforthbelow,andtheywillbefurnishedpromptlyatTextron'sexpense.Youmayalsocontactyourbroker,dealer,commercialbank,trustcompanyorothernomineeforassistanceconcerningtheOffer.

The Information Agent for the Offer is:

AllianceAdvisorsLLC

200BroadacresDrive,3rdFloorBloomfield,NJ07003

CallCollect:(973)873-7780or

CallToll-Free:(888)991-1293Email:reorg@allianceadvisorsllc.com

ByMail:By5:00p.m.NYCtimeonExpiration

DateWellsFargoBank,N.A.ShareownerServices

VoluntaryCorporateActionsP.O.Box64858

St.Paul,Minnesota55164-0858

ByFacsimileTransmission:WellsFargoBank,N.A.ShareownerServices

VoluntaryCorporateActions(800)468-9716(phone)(866)734-9952(fax)

ByHandorOvernightCourier:By5:00p.m.NYCtimeonExpiration

DateWellsFargoBank,N.A.ShareownerServices

VoluntaryCorporateActions1110CentrePointeCurve,Suite101MendotaHeights,

Minnesota55120

QuickLinks

IMPORTANTSUMMARYTERMSHEETINTRODUCTIONTHETENDEROFFERSCHEDULEIINFORMATIONCONCERNINGTHEDIRECTORSANDEXECUTIVEOFFICERSOFTEXTRONINC.,TEXTRONSPECIALIZEDVEHICLESINC.ANDACESACQUISITIONCORP.TEXTRONINC.TEXTRONSPECIALIZEDVEHICLESINC.ACESACQUISITIONCORP.TheDepositaryfortheOfferisWellsFargoBank,N.A.TheInformationAgentfortheOfferis

QuickLinks--Clickheretorapidlynavigatethroughthisdocument

EXHIBIT (a)(1)(B)

Letter of Transmittal

To Tender Shares of Common Stock of

Arctic Cat Inc.Pursuant to the Offer to Purchase Dated February 2, 2017

by

Aces Acquisition Corp.,

Textron Specialized Vehicles Inc.and

Textron Inc.

THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 3, 2017 UNLESS THE OFFER IS EXTENDED.

The Depositary for the Offer is:

WellsFargoBank,N.A.

Delivery of this Letter of Transmittal to an address other than as set forth above will not constitute a valid delivery to the Depositary. You must signthis Letter of Transmittal in the appropriate space provided below, with signature guarantee if required, and complete the enclosed Form W-9.

***By Mail: By5:00p.m.NYCtimeonExpirationDate

WellsFargoBank,N.A.ShareownerServices

VoluntaryCorporateActionsP.O.Box64858

St.Paul,Minnesota55164-0858

***By Hand or Overnight Courier: By5:00p.m.NYCtimeonExpirationDate

WellsFargoBank,N.A.ShareownerServices

VoluntaryCorporateActions1110CentrePointeCurve,Suite101MendotaHeights,Minnesota55120

The instructions contained within this Letter of Transmittal should be read carefully before this Letter of Transmittal is completed.

FOR OFFICE USE ONLY Approved W-9 Completed

DESCRIPTION OF SHARES TENDERED

AccountRegistration

Please make anyaddress correction

below Certificate(s) and Share(s) Tendered

(Please attach additional signed list, if necessary)

Certificate Number(s) and/or

indicate Book-Entry shares

Total Number of Shares

Represented by Certificate(s)

Number of Shares

Tendered(1)(2)

Total Shares Tendered

(1) IfsharesareheldinBook-Entryform,youmust indicatethenumberofsharesyouaretendering.Otherwise,allSharesrepresentedbyBook-EntrydeliveredtotheDepositarywillbedeemedtohavebeentendered.By signing andsubmitting this Letter of Transmittal you warrant that these shares will not be sold, including through limitorder request, unless properly withdrawn from the Offer. SeeInstruction4.

(2) IfyouwishtotenderfewerthanallsharesrepresentedbyanyCertificatelistedabove,pleaseindicateinthiscolumnthenumberofsharesyouwishtotender.Otherwise,allSharesrepresentedbyCertificatesdeliveredtotheDepositarywillbedeemedtohavebeentendered.SeeInstruction4.

o CheckhereifCertificateshavebeenlostormutilated.

LostCertificates.IhavelostmyCertificate(s)forsharesandrequireassistanceinreplacingthem.A$75.00replacementfeemustbesentinwiththecompletedletteroftransmittal.ThecheckmustbemadepayabletoShareownerServices.Ifadditionalformsandfeesareneeded,youwillbecontacted.

ThenamesandaddressesoftheregisteredholdersofthetenderedSharesshouldbeprinted,ifnotalreadyprintedabove,exactlyastheyappearontheCertificates(asdefinedbelow)tenderedhereby.

ThisLetterofTransmittalistobeusedbyshareholdersifCertificatesforSharesaretobeforwardedherewithorifsharesareheldinbook-entryformontherecordsoftheDepositary.

HoldersofShareswhosecertificatesforsuchShares(the"Certificates")arenotimmediatelyavailable,orwhocannotcompletetheprocedureforbook-entrytransferonatimelybasis,orwhocannotdeliverallotherrequireddocumentstotheDepositarypriortotheExpirationDate(asdefinedintheOffertoPurchase),musttendertheirSharesaccordingtotheguaranteeddeliveryproceduresetforthin"Section3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase.SeeInstruction2.

IMPORTANT SHAREHOLDER: SIGN HERE

(Please Complete Substitute Form W-9 Enclosed)

(Mustbesignedbytheregisteredholder(s)exactlyasname(s)appear(s)onstockcertificate(s)oronasecuritypositionlistingorbytheperson(s)authorizedtobecomeregisteredholder(s)bycertificatesanddocumentstransmittedherewith.Ifsignatureisbyatrustee,executor,administrator,guardian,attorney-in-fact,officerofacorporationorotherpersonactinginafiduciaryorrepresentativecapacity,pleasesetforthfulltitleandseeInstruction5.)

GUARANTEE OF SIGNATURE(S) (If required—See Instructions 1 and 5)

APPLY MEDALLION GUARANTEE STAMP BELOW

(Signature(s) of Owner(s))

Name(s)

Capacity(FullTitle) (See Instructions)

Address

(Include Zip Code)

Thisletteroftransmittal(asamendedorsupplementedfromtimetotime,this"LetterofTransmittal")istobecompletedbyshareholdersofArcticCatInc.,aMinnesotacorporation("ArcticCat"),ifcertificates("Certificates")representingsharesofcommonstock,parvalue$0.01pershare(each,a"Share"andcollectively,the"Shares"),aretobeforwardedwiththisLetterofTransmittal.IfdeliveryofSharesistobemadebybook-entrytransfertoanaccountmaintainedbyWellsFargoBank,N.A.(the"Depositary")atTheDepositoryTrustCompany("DTC")pursuanttotheproceduressetforthunderSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase,datedFebruary2,2017(asamendedorsupplementedfromtimetotime,the"OffertoPurchase"),shareholdersmayuseanAgent'sMessage(asdefinedinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase)orthisLetterofTransmittal.Delivery of documents to DTC in accordance with DTC's procedures does not constitute delivery to the Depositary.

ShareholdersofArcticCatwhoseCertificatesarenotimmediatelyavailableorwhosetimewillnotpermitallrequireddocumentstoreachtheDepositaryatorbeforetheexpirationoftheOfferorwhocannotcompletetheprocedureforbook-entrytransferatorbeforetheexpirationoftheOffermusttendertheirSharesaccordingtotheguaranteeddeliveryproceduressetforthunderSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase.SeeInstruction2below.

IfanyCertificateyouaretenderingwiththisLetterofTransmittalhasbeenlost,stolen,destroyedormutilated,youshouldcontactWellsFargoShareownerServices,ArcticCat'sstocktransferagent(the"TransferAgent"),at800-468-9716,regardingtherequirementsforreplacement.YoumayberequiredtopostabondtosecureagainsttheriskthattheCertificatemaybesubsequentlyrecirculated.YouareurgedtocontacttheTransferAgentimmediatelyinordertoreceivefurtherinstructions,foradeterminationofwhetheryouwillneedtopostabondandtopermittimelyprocessingofthisdocumentation.TheDepositarymaychargeholdersanadministrativefeeforprocessingpaymentwithrespecttoSharesrepresentedbylostcertificates.

NOTE:PLEASEREADTHEINSTRUCTIONSSETFORTHINTHISLETTEROFTRANSMITTALCAREFULLY.

SPECIAL PAYMENT INSTRUCTIONS

(See Instructions 1, 5 and 6)

SPECIAL DELIVERY INSTRUCTIONS

TobecompletedONLYifthecheckforpaymentistobeissuedinthenameofsomeoneotherthantheundersigned.

TobecompletedONLYifthecheckistobesenttosomeoneotherthantheundersignedortotheundersignedatanaddressotherthanthatshownunder"DescriptionofSharesTendered."

IssueTo: MailTo:

Name Name

(Please Print) (Please Print)

Address Address

(Include Zip Code) (Include Zip Code)

(Recipient must complete the enclosed Form W-9)

LadiesandGentlemen:

TheundersignedherebytenderstoAcesAcquisitionCorp.,aMinnesotacorporation("Purchaser")andadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron"),theabove-describedsharesofcommonstock,parvalue$0.01pershare(the"ArcticCatCommonStock"orthe"Shares"),ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),pursuanttoPurchaser'soffertopurchasealloftheoutstandingSharesat$18.50perShare,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthintheoffertopurchase,datedFebruary2,2017(asamendedorsupplementedfromtimetotime,the"OffertoPurchase"),receiptofwhichisherebyacknowledged,andinthisletteroftransmittal(asamendedorsupplementedfromtimetotime,this"LetterofTransmittal,"andtogetherwiththeOffertoPurchase,the"Offer").

Subjectto,andeffectiveupon,acceptanceforpaymentoftheSharestenderedwiththisLetterofTransmittal,inaccordancewiththetermsoftheOffer,theundersignedherebysells,assignsandtransfersto,orupontheorderof,Purchaserallright,titleandinterestinandtoalltheSharesthatarebeingtenderedbythisLetterofTransmittalandirrevocablyappointsWellsFargoBank,N.A.(the"Depositary")asthetrueandlawfulagent,attorney-in-factandproxyoftheundersignedwithrespecttosuchShares,withfullpowerofsubstitution(suchpowerofattorneybeingdeemedtobeanirrevocablepowercoupledwithaninterestintheSharestenderedbythisLetterofTransmittal),to(i)delivercertificates(the"Certificates")representingtheArcticCatCommonStock,ortransferownershipofsuchSharesontheaccountbooksmaintainedbyTheDepositoryTrustCompany,together,ineithercase,withallaccompanyingevidencesoftransferandauthenticity,toorupontheorderofPurchaser;(ii)presentsuchSharesfortransferonthebooksofArcticCat;and(iii)receiveallbenefitsandotherwiseexerciseallrightsofbeneficialownershipofsuchShares,allinaccordancewiththetermsandsubjecttotheconditionsoftheOffer.

TheundersignedherebyirrevocablyappointsPurchaser'sdesignees,andeachofthem,asagents,attorneys-in-factandproxiesoftheundersigned,eachwithfullpowerofsubstitution,inthemannersetforthherein,tothefullextentoftherightsoftheundersignedwithrespecttoSharesthattheundersignedtendersandPurchaseracceptsforpayment.AllsuchpowersofattorneyandproxieswillbeconsideredirrevocableandcoupledwithaninterestintheSharestenderedbythisLetterofTransmittal.ThisappointmentwillbeeffectivewhenPurchaseracceptstheSharestenderedbythisLetterofTransmittalforpaymentinaccordancewiththetermsoftheOffer.Uponacceptanceforpayment,allotherpowersofattorneyandproxiesgivenbytheundersignedwithrespecttotheSharestenderedbythisLetterofTransmittalpriortosuchpaymentwillberevoked,withoutfurtheraction,andnosubsequentpowersofattorneyandproxiesmaybegivenbytheundersigned(and,ifgiven,willnotbedeemedeffective).Purchaser'sdesigneeswill,withrespecttotheSharestenderedbythisLetterofTransmittalandrightsforwhichtheappointmentiseffective,beempoweredtoexerciseallofthevotingandotherrightsoftheundersignedasthey,intheirsolediscretion,maydeemproperatanyannualorspecialmeetingofshareholdersofArcticCat,oranyadjournmentorpostponementthereof,orbyconsentinlieuofanysuchmeetingofshareholdersofArcticCatorotherwise.InorderforSharestobedeemedvalidlytenderedbythisLetterofTransmittal,immediatelyupontheacceptanceforpaymentofsuchShares,PurchaseroritsdesigneemustbeabletoexercisefullvotingrightswithrespecttosuchShares,includingvotingatanymeetingofshareholdersofArcticCat.

Theundersignedherebyrepresentsandwarrantsthattheundersignedhasfullpowerandauthoritytotender,sell,assignandtransfertheSharestenderedbythisLetterofTransmittal,andthatwhensuchSharesareacceptedforpaymentbyPurchaser,Purchaserwillacquiregood,marketableandunencumberedtitletosuchShares,freeandclearofallliens,restrictions,chargesandencumbrances,andthatnoneofsuchShareswillbesubjecttoanyadverseclaim.Theundersigned,uponrequest,shallexecuteanddeliveralladditionaldocumentsdeemedbytheDepositaryorPurchasertobenecessaryordesirabletocompletethesale,assignmentandtransferoftheSharestenderedbythisLetterofTransmittal.

NoauthorityconferredoragreedtobeconferredinthisLetterofTransmittalshallbeaffectedby,andallsuchauthorityshallsurvive,thedeathorincapacityoftheundersigned.AllobligationsoftheundersignedunderthisLetterofTransmittalshallbebindingupontheheirs,personalrepresentatives,successorsandassignsoftheundersigned.ExceptasstatedintheOffertoPurchase,thistenderisirrevocable.SeeSection4—"WithdrawalRights"oftheOffertoPurchase.

TheundersignedunderstandsthattendersofSharespursuanttoanyoneoftheproceduresdescribedintheOffertoPurchaseunderSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchaseandintheinstructionstothisLetterofTransmittalwillconstitutetheundersigned'sacceptanceofthetermsandconditionsoftheOffer.Purchaser'sacceptanceofsuchSharesforpaymentwillconstituteabindingagreementbetweentheundersignedandPurchaseruponthetermsandsubjecttotheconditionsoftheOffer.Withoutlimitingtheforegoing,ifthepricetobepaidintheOfferisamendedinaccordancewiththeOffer,thepricetobepaidtotheundersignedwillbetheamendedpricenotwithstandingthefactthatadifferentpriceisstatedinthisLetterofTransmittal.TheundersignedrecognizesthatundercertaincircumstancessetforthintheOffertoPurchase,PurchasermaynotberequiredtoacceptforpaymentanyoftheSharestenderedbythisLetterofTransmittal.

UnlessotherwiseindicatedinthisLetterofTransmittalintheboxentitled"SpecialPaymentInstructions,"pleaseissuethecheckforthepurchasepriceofallSharespurchasedinthename(s)oftheregisteredholder(s)appearingaboveunder"DescriptionofSharesTendered."Similarly,unlessotherwiseindicatedintheboxentitled"SpecialDeliveryInstructions,"pleasemailthecheckforthepurchasepriceofallSharespurchasedtotheaddress(es)oftheregisteredholder(s)appearingaboveunder"DescriptionofSharesTendered."

INSTRUCTIONS

FORMING PART OF THE TERMS AND CONDITIONS OF THE OFFER

1. Guarantee of Signatures. NosignatureguaranteeisrequiredonthisLetterofTransmittalifthisLetterofTransmittalissignedbytheregisteredholder(s)ofSharestenderedherewith,unlesssuchregisteredholder(s)hascompletedtheboxentitled"SpecialPaymentInstructions"ontheLetterofTransmittal.SeeInstruction5.

2. Requirements of Tender. ThisLetterofTransmittalistobecompletedbyshareholdersifcertificatesaretobeforwardedherewithorsharesareheldinbook-entryformontherecordsoftheDepositary.Certificates,aswellasthisLetterofTransmittal(orafacsimilehereof),properlycompletedanddulyexecuted,withanyrequiredsignatureguarantees,andanyotherdocumentsrequiredbythisLetterofTransmittal,mustbereceivedbytheDepositaryatoneofitsaddressessetforthhereinpriortotheExpirationDate.ShareholderswhoseCertificatesarenotimmediatelyavailableorwhocannotdeliverallotherrequireddocumentstotheDepositarypriortotheExpirationDate,maytendertheirSharesbyproperlycompletinganddulyexecutingaNoticeofGuaranteedDeliverypursuanttotheguaranteeddeliveryproceduresetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase.Pursuanttosuchprocedure:(i)suchtendermustbemadebyorthroughanEligibleInstitution;(ii)aproperlycompletedanddulyexecutedNoticeofGuaranteedDelivery,mustbereceivedbytheDepositarypriortotheExpirationDate;and(iii)theCertificatesevidencingalltenderedShares,inproperformfortransfer,ineachcasetogetherwiththeLetterofTransmittal(orafacsimilethereof),properlycompletedanddulyexecuted,withanyrequiredsignatureguaranteesandanyotherdocumentsrequiredbythisLetterofTransmittal,mustbereceivedbytheDepositarywithinthree(3)tradingdaysafterthedateofexecutionofsuchNoticeofGuaranteedDelivery.IfCertificatesareforwardedseparatelytotheDepositary,aproperlycompletedanddulyexecutedLetterofTransmittalmustaccompanyeachsuchdelivery.

By signing and submitting this Letter of Transmittal you warrant that these Shares will not be sold, including through limit order request, unless properlywithdrawn from the Offer.

The method of delivery of this Letter of Transmittal, Certificates and all other required documents is at the option and the risk of the tenderingshareholder and the delivery will be deemed made only when actually received by the Depositary. If delivery is by mail, registered mail with return receiptrequested, properly insured, is recommended. In all cases, sufficient time should be allowed to ensure timely delivery.

LETTERS OF TRANSMITTAL MUST BE RECEIVED IN THE OFFICE OF THE DEPOSITARY BY 5:00 P.M., NEW YORK CITY TIME, ONTHE EXPIRATION DATE OF THE OFFER. GUARANTEED DELIVERIES WILL BE ACCEPTED VIA FAX UNTIL 5:00 P.M., NEW YORK CITYTIME, ON THE EXPIRATION DATE.

Noalternative,conditionalorcontingenttenderswillbeacceptedandnofractionalShareswillbeexchanged.Alltenderingshareholders,byexecutionofthisLetterofTransmittal(orafacsimilehereof),waiveanyrighttoreceiveanynoticeoftheacceptanceoftheirSharesforpayment.

3. Inadequate Space. Ifthespaceprovidedhereinisinadequate,thecertificatenumbersand/orthenumberofSharesandanyotherrequiredinformationshouldbelistedonaseparatesignedscheduleattachedhereto.

4. Partial Tenders. Iffewerthanallofthesharesevidencedbyanycertificateand/orbook-entryaretobetendered,fillinthenumberofsharesthataretobetenderedinthecolumnentitled"NumberofSharesTendered"intheboxentitled"DescriptionofSharesTendered"above.Inthatcase,ifanytenderedsharesarepurchased,aDirectRegistrationBookEntryStatementfortheremainderoftheshares(includinganysharesnotpurchased)evidencedbytheoldcertificate(s)willbeissuedandsenttotheregisteredholder(s)promptlyaftertheexpirationdate. Unless otherwise indicated, all shares represented by the certificate(s) and/or book-entry set forth above and delivered to the Depositary will be deemed to have been tendered. Ineachcase,shareswillbereturnedorcreditedwithoutexpensetotheshareholder.

5. Signatures on Letter of Transmittal, Stock Powers and Endorsements. IfthisLetterofTransmittalissignedbytheregisteredholder(s)oftheSharestenderedhereby,thesignature(s)mustcorrespondwiththename(s)aswrittenonthefaceofthecertificate(s)withoutalteration,enlargementoranychangewhatsoever.

IfanyoftheSharestenderedherebyareheldofrecordbytwoormorejointowners,allsuchownersmustsignthisLetterofTransmittal.

IfanyofthetenderedSharesareregisteredindifferentnamesonseveralcertificates,itwillbenecessarytocomplete,signandsubmitasmanyseparateLettersofTransmittalastherearedifferentregistrations.

IfthisLetterofTransmittaloranycertificatesorstockpowersaresignedbyatrustee,executor,administrator,guardian,attorney-in-fact,officerofacorporationorotherpersonactinginafiduciaryorrepresentativecapacity,suchpersonshouldsoindicatewhensigning,andproperevidencesatisfactorytoTextronInc.oftheauthorityofsuchpersonsotoactmustbesubmitted.IfthisLetterofTransmittalissignedbytheregisteredholder(s)oftheShareslistedandtransmittedhereby,noendorsementsofcertificatesorseparatestockpowersarerequiredunlesspaymentistobemadeorcertificatesforSharesnottenderedornotacceptedforpaymentaretobeissuedinthenameofapersonotherthantheregisteredholder(s).SignaturesonanysuchCertificatesorstockpowersmustbeguaranteedbyanEligibleInstitution.

IfthisLetterofTransmittalissignedbyapersonotherthantheregisteredholder(s)oftheCertificate(s)listedandtransmittedhereby,theCertificate(s)mustbeendorsedoraccompaniedbyappropriatestockpowers,ineithercasesignedexactlyasthename(s)oftheregisteredholder(s)appear(s)ontheCertificate(s).Signature(s)onanysuchCertificatesorstockpowersmustbeguaranteedbyanEligibleInstitution.

6. Special Payment. IfacheckistobeissuedinthenameofapersonotherthanthesignerofthisLetterofTransmittaltheappropriateboxesonthisLetterofTransmittalmustbecompleted.

7. Requests for Assistance or Additional Copies. QuestionsandrequestsforassistanceoradditionalcopiesoftheOffertoPurchase,thisLetterofTransmittal,theNoticeofGuaranteedDelivery,IRSFormW-9andtheGuidelinesforCertificationofTaxpayerIdentificationNumberonSubstituteFormW-9maybedirectedtothe(InformationAgent)attheaddressesandphonenumberssetforthbelow,orfrombrokers,dealers,commercialbanksortrustcompanies.

8. Waiver of Conditions. SubjecttothetermsandconditionsoftheMergerAgreement,TextronInc.andAcesAcquisitionCorp.reservetheright,intheirsolediscretion,towaive,atanytimeorfromtimetotime,anyofthespecifiedconditionsoftheOffer,inwholeorinpart,inthecaseofanySharestendered.

9. Lost, Destroyed or Stolen Certificates. IfyourCertificatesarelost,pleasechecktheboxandcompletebelowBoxA.A$75.00lostcertificatereplacementfeemustbemailedinwithyourcompletedLetterofTransmittal.Ifthereareadditionalformsorfeesneeded,youwillbecontacted.

10. Withdrawal of Shares Tendered. SharestenderedpursuanttotheOffermaybewithdrawnatanytimepriortotheExpirationDate.AfteraneffectivewithdrawalyoumayresubmittotheDepositaryacompletedreplacementofthisdocumentandanyotherdocumentsrequiredbytheOfferforproperlytenderingSharespriortotheExpirationDate.

Important: This Letter of Transmittal together with any required signature guarantees, and any other required documents, must be received by theDepositary prior to the Expiration Date and Certificates for tendered Shares must be received by the Depositary prior to the Expiration Date, or thetendering shareholder must comply with the procedures for guaranteed delivery.

IMPORTANT TAX INFORMATION

Underthefederalincometaxlaw,unlessanexemptionapplies,ashareholderwhosetenderedSharesareacceptedforpaymentisrequiredtoprovidetheDepositarywithsuchshareholder'scorrectTINontheSubstituteFormW-9.Ifsuchshareholderisanindividual,theTINissuchshareholder'sSocialSecurityNumber.IftheDepositaryisnotprovidedwiththecorrectTIN,theshareholdermaybesubjecttoa$50penaltyimposedbytheInternalRevenueService.Inaddition,paymentsthataremadetosuchshareholdermaybesubjecttobackupwithholdingbasedon28%ofthereportableamount.

Certainshareholders(forexample,corporations)arenotsubjecttothesebackupwithholdingandreportingrequirements.Inorderforanon-U.S.persontoclaimnonresidentalien(orforeign)taxstatusandqualifyforanexemptionfrombackupwithholding,suchindividualmustsubmitanappropriateandproperlycompletedIRSFormW-8,attestingtothatindividual'sforeignstatus.Normally,aforeignindividualorcorporationwillprovideaFormW-8BEN.IntermediaryentitieswillprovideaFormW-8IMYfortheentityandaFormW-8BENorFormW-9foreachbeneficialowneralongwithawithholdingstatement.SuchaFormW-8maybeobtainedfromtheDepositary.ExemptU.S.shareholders(i.e.,corporations,etc.)shouldfurnishtheirTIN,checkthe"Exemptpayee"lineandsign,dateandreturntheSubstituteFormW-9totheDepositary.

Ifbackupwithholdingapplies,theDepositaryisrequiredtowithhold28%ofanyreportablepaymentsmadetotheshareholder.Backupwithholdingisnotanadditionaltax.Rather,thefederalincometaxliabilityofpersonssubjecttobackupwithholdingwillbereducedbytheamountoftaxwithheld.Ifbackupwithholdingresultsinanoverpaymentoftaxes,arefundmaybeobtainedfromtheInternalRevenueServicewhencompletingataxreturnforthatapplicableyear,basedonthewithholdingamountreportedontheForm1099.

Print or type SeeSpecific Instructions onpage2.

Underpenaltiesofperjury,Icertifythat:

Certification instructions. Youmustcrossoutitem2aboveifyouhavebeennotifiedbytheIRSthatyouarecurrentlysubjecttobackupwithholdingbecauseyouhavefailedtoreportallinterestanddividendsonyourtaxreturn.Forrealestatetransactions,item2doesnotapply.Formortgageinterestpaid,acquisitionorabandonmentofsecuredproperty,cancellationofdebt,contributionstoanindividualretirementarrangement(IRA),andgenerally,paymentsotherthaninterestanddividends,youarenotrequiredtosignthecertification,butyoumustprovideyourcorrectTIN.Seetheinstructionsonpage3.

FormW-9 (Rev.December2014)DepartmentoftheTreasuryInternalRevenueService

Request for Taxpayer Identification Number and Certification

Give Form to the requester. Do not send to the IRS.

1 Name(asshownonyourincometaxreturn).Nameisrequiredonthisline;donotleavethislineblank.

2 Businessname/disregardedentityname,ifdifferentfromabove

3 Checkappropriateboxforfederaltaxclassification;checkonlyone ofthefollowingsevenboxes:oIndividual/soleproprietororoCCorporationoSCorporationoPartnershipoTrust/estatesingle-memberLLC

4 Exemptions(codesapplyonlytocertainentities,notindividuals;seeinstructionsonpage3):

oLimitedliabilitycompany.Enterthetaxclassification(C=Ccorporation,S=Scorporation,P=partnership)>_____

Exemptpayeecode(ifany)_____

Note. Forasingle-memberLLCthatisdisregarded,donotcheckLLC;checktheappropriateboxinthelineaboveforthetaxclassificationofthesingle-memberowner.

ExemptionfromFATCAreportingcode(ifany)_____(Applies to accounts maintained outside the U.S.)

oOther(seeinstructions)>

5 Address(number,street,andapt.orsuiteno.)

Requester'snameandaddress(optional)

6 City,state,andZIPcode

7 Listaccountnumber(s)here(optional)

Part I Taxpayer Identification Number (TIN)

EnteryourTINintheappropriatebox.TheTINprovidedmustmatchthenamegivenonline1toavoidbackupwithholding.Forindividuals,thisisgenerallyyoursocialsecuritynumber(SSN).However,foraresidentalien,soleproprietor,ordisregardedentity,seethePartIinstructionsonpage3.Forotherentities,itisyouremployeridentificationnumber(EIN).Ifyoudonothaveanumber,seeHow to get a TIN onpage3.

Note. Iftheaccountisinmorethanonename,seetheinstructionsforline1andthechartonpage4forguidelinesonwhosenumbertoenter.

Social security number – –

or

Employer identification number –

Part II Certification

1. Thenumbershownonthisformismycorrecttaxpayeridentificationnumber(orIamwaitingforanumbertobeissuedtome);and

2.

Iamnotsubjecttobackupwithholdingbecause:(a)Iamexemptfrombackupwithholding,or(b)IhavenotbeennotifiedbytheInternalRevenueService(IRS)thatIamsubjecttobackupwithholdingasaresultofafailuretoreportallinterestordividends,or(c)theIRShasnotifiedmethatIamnolongersubjecttobackupwithholding;and

3.

IamaU.S.citizenorotherU.S.person(definedbelow);and

4.

TheFATCAcode(s)enteredonthisform(ifany)indicatingthatIamexemptfromFATCAreportingiscorrect.

Sign Here

Signature of U.S. person > Date >

General InstructionsSectionreferencesaretotheInternalRevenueCodeunlessotherwisenoted.

Future developments. InformationaboutdevelopmentsaffectingFormW-9(suchaslegislationenactedafterwereleaseit)isatwww.irs.gov/fw9 .

Purpose of Form

Anindividualorentity(FormW-9requester)whoisrequiredtofileaninformationreturnwiththeIRSmustobtainyourcorrecttaxpayeridentificationnumber(TIN)whichmaybeyoursocialsecuritynumber(SSN),individualtaxpayeridentificationnumber(ITIN),adoptiontaxpayeridentificationnumber(ATIN),oremployeridentificationnumber(EIN),toreportonaninformationreturntheamountpaidtoyou,orotheramountreportableonaninformationreturn.Examplesofinformationreturnsinclude,butarenotlimitedto,thefollowing:

•Form1099-INT(interestearnedorpaid)

•Form1099-DIV(dividends,includingthosefromstocksormutualfunds)

•Form1099-MISC(varioustypesofincome,prizes,awards,orgrossproceeds)

•Form1098(homemortgageinterest),1098-E(studentloaninterest),1098-T(tuition)

•Form1099-C(canceleddebt)

•Form1099-A(acquisitionorabandonmentofsecuredproperty)

UseFormW-9onlyifyouareaU.S.person(includingaresidentalien),toprovideyourcorrectTIN.

If you do not return Form W-9 to the requester with a TIN, you might be subject to backupwithholding. SeeWhat is backup withholding? onpage2.

Bysigningthefilled-outform,you:

1.CertifythattheTINyouaregivingiscorrect(oryouarewaitingforanumbertobeissued),

2.Certifythatyouarenotsubjecttobackupwithholding,or

3.ClaimexemptionfrombackupwithholdingifyouareaU.S.exemptpayee.Ifapplicable,youarealsocertifyingthatasaU.S.person,yourallocableshareofanypartnershipincomefromaU.S.tradeorbusinessisnotsubjecttothewithholdingtaxonforeignpartners'shareofeffectivelyconnectedincome,and

4.CertifythatFATCAcode(s)enteredonthisform(ifany)indicatingthatyouareexemptfromtheFATCAreporting,iscorrect.SeeWhat is FATCA reporting? onpage2forfurtherinformation.

•Form1099-B(stockormutualfundsalesandcertainothertransactionsbybrokers)

•Form1099-S(proceedsfromrealestatetransactions)

•Form1099-K(merchantcardandthirdpartynetworktransactions)

Cat.No.10231X FormW-9 (Rev.12-2014)

FormW-9(Rev.12-2014) Page2

Note. IfyouareaU.S.personandarequestergivesyouaformotherthanFormW-9torequestyourTIN,youmustusetherequester'sformifitissubstantiallysimilartothisFormW-9.

Definition of a U.S. person. Forfederaltaxpurposes,youareconsideredaU.S.personifyouare:

•AnindividualwhoisaU.S.citizenorU.S.residentalien;

•Apartnership,corporation,company,orassociationcreatedororganizedintheUnitedStatesorunderthelawsoftheUnitedStates;

•Anestate(otherthanaforeignestate);or

•Adomestictrust(asdefinedinRegulationssection301.7701-7).

Special rules for partnerships. PartnershipsthatconductatradeorbusinessintheUnitedStatesaregenerallyrequiredtopayawithholdingtaxundersection1446onanyforeignpartners'shareofeffectivelyconnectedtaxableincomefromsuchbusiness.Further,incertaincaseswhereaFormW-9hasnotbeenreceived,therulesundersection1446requireapartnershiptopresumethatapartnerisaforeignperson,andpaythesection1446withholdingtax.Therefore,ifyouareaU.S.personthatisapartnerinapartnershipconductingatradeorbusinessintheUnitedStates,provideFormW-9tothepartnershiptoestablishyourU.S.statusandavoidsection1446withholdingonyourshareofpartnershipincome.

Inthecasesbelow,thefollowingpersonmustgiveFormW-9tothepartnershipforpurposesofestablishingitsU.S.statusandavoidingwithholdingonitsallocableshareofnetincomefromthepartnershipconductingatradeorbusinessintheUnitedStates:

•InthecaseofadisregardedentitywithaU.S.owner,theU.S.ownerofthedisregardedentityandnottheentity;

•InthecaseofagrantortrustwithaU.S.grantororotherU.S.owner,generally,theU.S.grantororotherU.S.ownerofthegrantortrustandnotthetrust;and

•InthecaseofaU.S.trust(otherthanagrantortrust),theU.S.trust(otherthanagrantortrust)andnotthebeneficiariesofthetrust.

Foreign person. IfyouareaforeignpersonortheU.S.branchofaforeignbankthathaselectedtobetreatedasaU.S.person,donotuseFormW-9.Instead,usetheappropriateFormW-8orForm8233(seePublication515,WithholdingofTaxonNonresidentAliensandForeignEntities).

Nonresident alien who becomes a resident alien. Generally,onlyanonresidentalienindividualmayusethetermsofataxtreatytoreduceoreliminateU.S.taxoncertaintypesofincome.However,mosttaxtreatiescontainaprovisionknownasa"savingclause."ExceptionsspecifiedinthesavingclausemaypermitanexemptionfromtaxtocontinueforcertaintypesofincomeevenafterthepayeehasotherwisebecomeaU.S.residentalienfortaxpurposes.

IfyouareaU.S.residentalienwhoisrelyingonanexceptioncontainedinthesavingclauseofataxtreatytoclaimanexemptionfromU.S.taxoncertaintypesofincome,youmustattachastatementtoFormW-9thatspecifiesthefollowingfiveitems:

1.Thetreatycountry.Generally,thismustbethesametreatyunderwhichyouclaimedexemptionfromtaxasanonresidentalien.

2.Thetreatyarticleaddressingtheincome.

3.Thearticlenumber(orlocation)inthetaxtreatythatcontainsthesavingclauseanditsexceptions.

4.Thetypeandamountofincomethatqualifiesfortheexemptionfromtax.

5.Sufficientfactstojustifytheexemptionfromtaxunderthetermsofthetreatyarticle.

Example.Article20oftheU.S.-ChinaincometaxtreatyallowsanexemptionfromtaxforscholarshipincomereceivedbyaChinesestudenttemporarilypresentintheUnitedStates.UnderU.S.law,thisstudentwillbecomearesidentalienfortaxpurposesifhisorherstayintheUnitedStatesexceeds5calendaryears.However,paragraph2ofthefirstProtocoltotheU.S.-Chinatreaty(datedApril30,1984)allowstheprovisionsofArticle20tocontinuetoapplyevenaftertheChinesestudentbecomesaresidentalienoftheUnitedStates.AChinesestudentwhoqualifiesforthisexception(underparagraph2ofthefirstprotocol)andisrelyingonthisexceptiontoclaimanexemptionfromtaxonhisorherscholarshiporfellowshipincomewouldattachtoFormW-9astatementthatincludestheinformationdescribedabovetosupportthatexemption.

Ifyouareanonresidentalienoraforeignentity,givetherequestertheappropriatecompletedFormW-8orForm8233.

Backup Withholding

What is backup withholding? PersonsmakingcertainpaymentstoyoumustundercertainconditionswithholdandpaytotheIRS28%ofsuchpayments.Thisiscalled"backupwithholding."Paymentsthatmaybesubjecttobackupwithholdingincludeinterest,tax-exemptinterest,dividends,brokerandbarterexchangetransactions,rents,royalties,nonemployeepay,paymentsmadeinsettlementofpaymentcardandthirdpartynetworktransactions,andcertainpaymentsfromfishingboatoperators.Realestatetransactionsarenotsubjecttobackupwithholding.

YouwillnotbesubjecttobackupwithholdingonpaymentsyoureceiveifyougivetherequesteryourcorrectTIN,makethepropercertifications,andreportallyourtaxableinterestanddividendsonyourtaxreturn.

Payments you receive will be subject to backup withholding if:

1.YoudonotfurnishyourTINtotherequester,

2.YoudonotcertifyyourTINwhenrequired(seethePartIIinstructionsonpage3fordetails),

3.TheIRStellstherequesterthatyoufurnishedanincorrectTIN,

4.TheIRStellsyouthatyouaresubjecttobackupwithholdingbecauseyoudidnotreportallyourinterestanddividendsonyourtaxreturn(forreportableinterestanddividendsonly),or

5.Youdonotcertifytotherequesterthatyouarenotsubjecttobackupwithholdingunder4above(forreportableinterestanddividendaccountsopenedafter1983only).

Certainpayeesandpaymentsareexemptfrombackupwithholding.SeeExempt payee code onpage3andtheseparateInstructionsfortheRequesterofFormW-9formoreinformation.

AlsoseeSpecial rules for partnerships above.

What is FATCA reporting?

TheForeignAccountTaxComplianceAct(FATCA)requiresaparticipatingforeignfinancialinstitutiontoreportallUnitedStatesaccountholdersthatarespecifiedUnitedStatespersons.CertainpayeesareexemptfromFATCAreporting.SeeExemption from FATCA reporting code onpage3andtheInstructionsfortheRequesterofFormW-9formoreinformation.

Updating Your Information

Youmustprovideupdatedinformationtoanypersontowhomyouclaimedtobeanexemptpayeeifyouarenolongeranexemptpayeeandanticipatereceivingreportablepaymentsinthefuturefromthisperson.Forexample,youmayneedtoprovideupdatedinformationifyouareaCcorporationthatelectstobeanScorporation,orifyounolongeraretaxexempt.Inaddition,youmustfurnishanewFormW-9ifthenameorTINchangesfortheaccount;forexample,ifthegrantorofagrantortrustdies.

Penalties

Failure to furnish TIN. IfyoufailtofurnishyourcorrectTINtoarequester,youaresubjecttoapenaltyof$50foreachsuchfailureunlessyourfailureisduetoreasonablecauseandnottowillfulneglect.

Civil penalty for false information with respect to withholding. Ifyoumakeafalsestatementwithnoreasonablebasisthatresultsinnobackupwithholding,youaresubjecttoa$500penalty.

Criminal penalty for falsifying information. Willfullyfalsifyingcertificationsoraffirmationsmaysubjectyoutocriminalpenaltiesincludingfinesand/orimprisonment.

Misuse of TINs. IftherequesterdisclosesorusesTINsinviolationoffederallaw,therequestermaybesubjecttocivilandcriminalpenalties.

Specific InstructionsLine 1

Youmustenteroneofthefollowingonthisline;do not leavethislineblank.Thenameshouldmatchthenameonyourtaxreturn.

IfthisFormW-9isforajointaccount,listfirst,andthencircle,thenameofthepersonorentitywhosenumberyouenteredinPartIofFormW-9.

a.Individual. Generally,enterthenameshownonyourtaxreturn.IfyouhavechangedyourlastnamewithoutinformingtheSocialSecurityAdministration(SSA)ofthenamechange,enteryourfirstname,thelastnameasshownonyoursocialsecuritycard,andyournewlastname.

Note. ITIN applicant: EnteryourindividualnameasitwasenteredonyourFormW-7application,line1a.ThisshouldalsobethesameasthenameyouenteredontheForm1040/1040A/1040EZyoufiledwithyourapplication.

b.Sole proprietor or single-member LLC. Enteryourindividualnameasshownonyour1040/1040A/1040EZonline1.Youmayenteryourbusiness,trade,or"doingbusinessas"(DBA)nameonline2.

c.Partnership, LLC that is not a single-member LLC, C Corporation, or S Corporation.Entertheentity'snameasshownontheentity'staxreturnonline1andanybusiness,trade,orDBAnameonline2.

d.Other entities. EnteryournameasshownonrequiredU.S.federaltaxdocumentsonline1.Thisnameshouldmatchthenameshownonthecharterorotherlegaldocumentcreatingtheentity.Youmayenteranybusiness,trade,orDBAnameonline2.

e.Disregarded entity. ForU.S.federaltaxpurposes,anentitythatisdisregardedasanentityseparatefromitsowneristreatedasa"disregardedentity."SeeRegulationssection301.7701-2(c)(2)(iii).Entertheowner'snameonline1.Thenameoftheentityenteredonline1shouldneverbeadisregardedentity.Thenameonline1shouldbethenameshownontheincometaxreturnonwhichtheincomeshouldbereported.Forexample,ifaforeignLLCthatistreatedasadisregardedentityforU.S.federaltaxpurposeshasasingleownerthatisaU.S.person,theU.S.owner'snameisrequiredtobeprovidedonline1.Ifthedirectowneroftheentityisalsoadisregardedentity,enterthefirstownerthatisnotdisregardedforfederaltaxpurposes.Enterthedisregardedentity'snameonline2,"Businessname/disregardedentityname."Iftheownerofthedisregardedentityisaforeignperson,theownermustcompleteanappropriateFormW-8insteadofaFormW-9.ThisisthecaseeveniftheforeignpersonhasaU.S.TIN.

FormW-9(Rev.12-2014) Page3

Line 2

Ifyouhaveabusinessname,tradename,DBAname,ordisregardedentityname,youmayenteritonline2.

Line 3

Checktheappropriateboxinline3fortheU.S.federaltaxclassificationofthepersonwhosenameisenteredonline1.Checkonlyoneboxinline3.

Limited Liability Company (LLC). Ifthenameonline1isanLLCtreatedasapartnershipforU.S.federaltaxpurposes,checkthe"LimitedLiabilityCompany"boxandenter"P"inthespaceprovided.IftheLLChasfiledForm8832or2553tobetaxedasacorporation,checkthe"LimitedLiabilityCompany"boxandinthespaceprovidedenter"C"forCcorporationor"S"forScorporation.Ifitisasingle-memberLLCthatisadisregardedentity,donotcheckthe"LimitedLiabilityCompany"box;insteadcheckthefirstboxinline3"Individual/soleproprietororsingle-memberLLC."

Line 4, Exemptions

Ifyouareexemptfrombackupwithholdingand/orFATCAreporting,enterintheappropriatespaceinline4anycode(s)thatmayapplytoyou.

Exempt payee code.

•Generally,individuals(includingsoleproprietors)arenotexemptfrombackupwithholding.

•Exceptasprovidedbelow,corporationsareexemptfrombackupwithholdingforcertainpayments,includinginterestanddividends.

•Corporationsarenotexemptfrombackupwithholdingforpaymentsmadeinsettlementofpaymentcardorthirdpartynetworktransactions.

•Corporationsarenotexemptfrombackupwithholdingwithrespecttoattorneys'feesorgrossproceedspaidtoattorneys,andcorporationsthatprovidemedicalorhealthcareservicesarenotexemptwithrespecttopaymentsreportableonForm1099-MISC.

Thefollowingcodesidentifypayeesthatareexemptfrombackupwithholding.Entertheappropriatecodeinthespaceinline4.

1–Anorganizationexemptfromtaxundersection501(a),anyIRA,oracustodialaccountundersection403(b)(7)iftheaccountsatisfiestherequirementsofsection401(f)(2)

2–TheUnitedStatesoranyofitsagenciesorinstrumentalities

3–Astate,theDistrictofColumbia,aU.S.commonwealthorpossession,oranyoftheirpoliticalsubdivisionsorinstrumentalities

4–Aforeigngovernmentoranyofitspoliticalsubdivisions,agencies,orinstrumentalities

5–Acorporation

6–AdealerinsecuritiesorcommoditiesrequiredtoregisterintheUnitedStates,theDistrictofColumbia,oraU.S.commonwealthorpossession

7–AfuturescommissionmerchantregisteredwiththeCommodityFuturesTradingCommission

8–Arealestateinvestmenttrust

9–AnentityregisteredatalltimesduringthetaxyearundertheInvestmentCompanyActof1940

10–Acommontrustfundoperatedbyabankundersection584(a)

11–Afinancialinstitution

12–Amiddlemanknownintheinvestmentcommunityasanomineeorcustodian

13–Atrustexemptfromtaxundersection664ordescribedinsection4947

Thefollowingchartshowstypesofpaymentsthatmaybeexemptfrombackupwithholding.Thechartappliestotheexemptpayeeslistedabove,1through13.

1SeeForm1099-MISC,MiscellaneousIncome,anditsinstructions.

IF the payment is for . . . THEN the payment is exempt for . . .Interestanddividendpayments

Allexemptpayeesexceptfor7

Brokertransactions

Exemptpayees1through4and6through11andallCcorporations.Scorporationsmustnotenteranexemptpayeecodebecausetheyareexemptonlyforsalesofnoncoveredsecuritiesacquiredpriorto2012.

Barterexchangetransactionsandpatronagedividends

Exemptpayees1through4

Paymentsover$600requiredtobereportedanddirectsalesover$5,0001

Generally,exemptpayees1through52

Paymentsmadeinsettlementofpaymentcardorthirdpartynetworktransactions

Exemptpayees1through4

2However,thefollowingpaymentsmadetoacorporationandreportableonForm1099-MISCarenotexemptfrombackupwithholding:medicalandhealthcarepayments,attorneys'fees,grossproceedspaidtoanattorneyreportableundersection6045(f),andpaymentsforservicespaidbyafederalexecutiveagency.

Exemption from FATCA reporting code. ThefollowingcodesidentifypayeesthatareexemptfromreportingunderFATCA.ThesecodesapplytopersonssubmittingthisformforaccountsmaintainedoutsideoftheUnitedStatesbycertainforeignfinancialinstitutions.Therefore,ifyouareonlysubmittingthisformforanaccountyouholdintheUnitedStates,youmayleavethisfieldblank.Consultwiththepersonrequestingthisformifyouareuncertainifthefinancialinstitutionissubjecttotheserequirements.ArequestermayindicatethatacodeisnotrequiredbyprovidingyouwithaFormW-9with"NotApplicable"(oranysimilarindication)writtenorprintedonthelineforaFATCAexemptioncode.

A–Anorganizationexemptfromtaxundersection501(a)oranyindividualretirementplanasdefinedinsection7701(a)(37)

B–TheUnitedStatesoranyofitsagenciesorinstrumentalities

C–Astate,theDistrictofColumbia,aU.S.commonwealthorpossession,oranyoftheirpoliticalsubdivisionsorinstrumentalities

D–Acorporationthestockofwhichisregularlytradedononeormoreestablishedsecuritiesmarkets,asdescribedinRegulationssection1.1472-1(c)(1)(i)

E–AcorporationthatisamemberofthesameexpandedaffiliatedgroupasacorporationdescribedinRegulationssection1.1472-1(c)(1)(i)

F–Adealerinsecurities,commodities,orderivativefinancialinstruments(includingnotionalprincipalcontracts,futures,forwards,andoptions)thatisregisteredassuchunderthelawsoftheUnitedStatesoranystate

G–Arealestateinvestmenttrust

H–Aregulatedinvestmentcompanyasdefinedinsection851oranentityregisteredatalltimesduringthetaxyearundertheInvestmentCompanyActof1940

I–Acommontrustfundasdefinedinsection584(a)

J–Abankasdefinedinsection581

K–Abroker

L–Atrustexemptfromtaxundersection664ordescribedinsection4947(a)(1)

M–Ataxexempttrustunderasection403(b)planorsection457(g)plan

Note. YoumaywishtoconsultwiththefinancialinstitutionrequestingthisformtodeterminewhethertheFATCAcodeand/orexemptpayeecodeshouldbecompleted.

Line 5

Enteryouraddress(number,street,andapartmentorsuitenumber).ThisiswheretherequesterofthisFormW-9willmailyourinformationreturns.

Line 6

Enteryourcity,state,andZIPcode.

Part I. Taxpayer Identification Number (TIN)

Enter your TIN in the appropriate box. IfyouarearesidentalienandyoudonothaveandarenoteligibletogetanSSN,yourTINisyourIRSindividualtaxpayeridentificationnumber(ITIN).Enteritinthesocialsecuritynumberbox.IfyoudonothaveanITIN,seeHow to get a TIN below.

IfyouareasoleproprietorandyouhaveanEIN,youmayentereitheryourSSNorEIN.However,theIRSprefersthatyouuseyourSSN.

Ifyouareasingle-memberLLCthatisdisregardedasanentityseparatefromitsowner(seeLimited Liability Company (LLC) onthispage),entertheowner'sSSN(orEIN,iftheownerhasone).Donotenterthedisregardedentity'sEIN.IftheLLCisclassifiedasacorporationorpartnership,entertheentity'sEIN.

Note. Seethechartonpage4forfurtherclarificationofnameandTINcombinations.

How to get a TIN. IfyoudonothaveaTIN,applyforoneimmediately.ToapplyforanSSN,getFormSS-5,ApplicationforaSocialSecurityCard,fromyourlocalSSAofficeorgetthisformonlineatwww.ssa.gov .Youmayalsogetthisformbycalling1-800-772-1213.UseFormW-7,ApplicationforIRSIndividualTaxpayerIdentificationNumber,toapplyforanITIN,orFormSS-4,ApplicationforEmployerIdentificationNumber,toapplyforanEIN.YoucanapplyforanEINonlinebyaccessingtheIRSwebsiteatwww.irs.gov/businesses andclickingonEmployerIdentificationNumber(EIN)underStartingaBusiness.YoucangetFormsW-7andSS-4fromtheIRSbyvisitingIRS.govorbycalling1-800-TAX-FORM(1-800-829-3676).

IfyouareaskedtocompleteFormW-9butdonothaveaTIN,applyforaTINandwrite"AppliedFor"inthespacefortheTIN,signanddatetheform,andgiveittotherequester.Forinterestanddividendpayments,andcertainpaymentsmadewithrespecttoreadilytradableinstruments,generallyyouwillhave60daystogetaTINandgiveittotherequesterbeforeyouaresubjecttobackupwithholdingonpayments.The60-dayruledoesnotapplytoothertypesofpayments.YouwillbesubjecttobackupwithholdingonallsuchpaymentsuntilyouprovideyourTINtotherequester.

Note. Entering"AppliedFor"meansthatyouhavealreadyappliedforaTINorthatyouintendto

applyforonesoon.

Caution: A disregarded U.S. entity that has a foreign owner must use the appropriate Form W-8.

FormW-9(Rev.12-2014) Page4

Part II. Certification

ToestablishtothewithholdingagentthatyouareaU.S.person,orresidentalien,signFormW-9.Youmayberequestedtosignbythewithholdingagentevenifitems1,4,or5belowindicateotherwise.

Forajointaccount,onlythepersonwhoseTINisshowninPartIshouldsign(whenrequired).Inthecaseofadisregardedentity,thepersonidentifiedonline1mustsign.Exemptpayees,seeExemptpayee code earlier.

Signature requirements. Completethecertificationasindicatedinitems1through5below.

1. Interest, dividend, and barter exchange accounts opened before 1984 and brokeraccounts considered active during 1983. YoumustgiveyourcorrectTIN,butyoudonothavetosignthecertification.

2. Interest, dividend, broker, and barter exchange accounts opened after 1983 and brokeraccounts considered inactive during 1983. Youmustsignthecertificationorbackupwithholdingwillapply.IfyouaresubjecttobackupwithholdingandyouaremerelyprovidingyourcorrectTINtotherequester,youmustcrossoutitem2inthecertificationbeforesigningtheform.

3. Real estate transactions. Youmustsignthecertification.Youmaycrossoutitem2ofthecertification.

4. Other payments. YoumustgiveyourcorrectTIN,butyoudonothavetosignthecertificationunlessyouhavebeennotifiedthatyouhavepreviouslygivenanincorrectTIN."Otherpayments"includepaymentsmadeinthecourseoftherequester'stradeorbusinessforrents,royalties,goods(otherthanbillsformerchandise),medicalandhealthcareservices(includingpaymentstocorporations),paymentstoanonemployeeforservices,paymentsmadeinsettlementofpaymentcardandthirdpartynetworktransactions,paymentstocertainfishingboatcrewmembersandfishermen,andgrossproceedspaidtoattorneys(includingpaymentstocorporations).

5. Mortgage interest paid by you, acquisition or abandonment of secured property,cancellation of debt, qualified tuition program payments (under section 529), IRA, CoverdellESA, Archer MSA or HSA contributions or distributions, and pension distributions. YoumustgiveyourcorrectTIN,butyoudonothavetosignthecertification.

What Name and Number To Give the Requester

1Listfirstandcirclethenameofthepersonwhosenumberyoufurnish.IfonlyonepersononajointaccounthasanSSN,thatperson'snumbermustbefurnished.

2Circletheminor'snameandfurnishtheminor'sSSN.

For this type of account: Give name and SSN of: 1.Individual Theindividual2.Twoormoreindividuals(jointaccount) Theactualowneroftheaccountor,ifcombined

funds,thefirstindividualontheaccount13.Custodianaccountofaminor(UniformGifttoMinorsAct)

Theminor2

4.a.Theusualrevocablesavingstrust(grantorisalsotrustee)

Thegrantor-trustee1

b.So-calledtrustaccountthatisnotalegalorvalidtrustunderstatelaw

Theactualowner1

5.Soleproprietorshipordisregardedentityownedbyanindividual

Theowner3

6.GrantortrustfilingunderOptionalForm1099FilingMethod1(seeRegulationsection1.671-4(b)(2)(i)(A))

Thegrantor*

For this type of account: Give name and EIN of: 7.Disregardedentitynotownedbyanindividual Theowner8.Avalidtrust,estate,orpensiontrust Legalentity49.CorporationorLLCelectingcorporatestatusonForm8832orForm2553

Thecorporation

10.Association,club,religious,charitable,educational,orothertax-exemptorganization

Theorganization

11.Partnershipormulti-memberLLC Thepartnership12.Abrokerorregisterednominee Thebrokerornominee13.AccountwiththeDepartmentofAgriculturein

thenameofapublicentity(suchasastateorlocalgovernment,schooldistrict,orprison)thatreceivesagriculturalprogrampayments

Thepublicentity

14.GrantortrustfilingundertheForm1041FilingMethodortheOptionalForm1099FilingMethod2(seeRegulationsection1.671-4(b)(2)(i)(B))

Thetrust

3YoumustshowyourindividualnameandyoumayalsoenteryourbusinessorDBAnameonthe"Businessname/disregardedentity"nameline.YoumayuseeitheryourSSNorEIN(ifyouhaveone),buttheIRSencouragesyoutouseyourSSN.

4Listfirstandcirclethenameofthetrust,estate,orpensiontrust.(DonotfurnishtheTINofthepersonalrepresentativeortrusteeunlessthelegalentityitselfisnotdesignatedintheaccounttitle.)AlsoseeSpecial rules for partnerships onpage2.

* Note. GrantoralsomustprovideaFormW-9totrusteeoftrust.

Note. Ifnonameiscircledwhenmorethanonenameislisted,thenumberwillbeconsideredtobethatofthefirstnamelisted.

Secure Your Tax Records from Identity Theft

Identitytheftoccurswhensomeoneusesyourpersonalinformationsuchasyourname,SSN,orotheridentifyinginformation,withoutyourpermission,tocommitfraudorothercrimes.AnidentitythiefmayuseyourSSNtogetajobormayfileataxreturnusingyourSSNtoreceivearefund.

Toreduceyourrisk:

•ProtectyourSSN,

•EnsureyouremployerisprotectingyourSSN,and

•Becarefulwhenchoosingataxpreparer.

IfyourtaxrecordsareaffectedbyidentitytheftandyoureceiveanoticefromtheIRS,respondrightawaytothenameandphonenumberprintedontheIRSnoticeorletter.

Ifyourtaxrecordsarenotcurrentlyaffectedbyidentitytheftbutyouthinkyouareatriskduetoalostorstolenpurseorwallet,questionablecreditcardactivityorcreditreport,contacttheIRSIdentityTheftHotlineat1-800-908-4490orsubmitForm14039.

Formoreinformation,seePublication4535,IdentityTheftPreventionandVictimAssistance.

Victimsofidentitytheftwhoareexperiencingeconomicharmorasystemproblem,orareseekinghelpinresolvingtaxproblemsthathavenotbeenresolvedthroughnormalchannels,maybeeligibleforTaxpayerAdvocateService(TAS)assistance.YoucanreachTASbycallingtheTAStoll-freecaseintakelineat1-877-777-4778orTTY/TDD1-800-829-4059.

Protect yourself from suspicious emails or phishing schemes. Phishingisthecreationanduseofemailandwebsitesdesignedtomimiclegitimatebusinessemailsandwebsites.Themostcommonactissendinganemailtoauserfalselyclaimingtobeanestablishedlegitimateenterpriseinanattempttoscamtheuserintosurrenderingprivateinformationthatwillbeusedforidentitytheft.

TheIRSdoesnotinitiatecontactswithtaxpayersviaemails.Also,theIRSdoesnotrequestpersonaldetailedinformationthroughemailorasktaxpayersforthePINnumbers,passwords,orsimilarsecretaccessinformationfortheircreditcard,bank,orotherfinancialaccounts.

IfyoureceiveanunsolicitedemailclaimingtobefromtheIRS,forwardthismessagetophishing@irs.gov .YoumayalsoreportmisuseoftheIRSname,logo,orotherIRSpropertytotheTreasuryInspectorGeneralforTaxAdministration(TIGTA)at1-800-366-4484.YoucanforwardsuspiciousemailstotheFederalTradeCommissionat:spam@uce.gov orcontactthematwww.ftc.gov/idtheft or1-877-IDTHEFT(1-877-438-4338).

VisitIRS.govtolearnmoreaboutidentitytheftandhowtoreduceyourrisk.

Privacy Act Notice

Section6109oftheInternalRevenueCoderequiresyoutoprovideyourcorrectTINtopersons(includingfederalagencies)whoarerequiredtofileinformationreturnswiththeIRStoreportinterest,dividends,orcertainotherincomepaidtoyou;mortgageinterestyoupaid;theacquisitionorabandonmentofsecuredproperty;thecancellationofdebt;orcontributionsyoumadetoanIRA,ArcherMSA,orHSA.ThepersoncollectingthisformusestheinformationontheformtofileinformationreturnswiththeIRS,reportingtheaboveinformation.RoutineusesofthisinformationincludegivingittotheDepartmentofJusticeforcivilandcriminallitigationandtocities,states,theDistrictofColumbia,andU.S.commonwealthsandpossessionsforuseinadministeringtheirlaws.Theinformationalsomaybedisclosedtoothercountriesunderatreaty,tofederalandstateagenciestoenforcecivilandcriminallaws,ortofederallawenforcementandintelligenceagenciestocombatterrorism.YoumustprovideyourTINwhetherornotyouarerequiredtofileataxreturn.Undersection3406,payersmustgenerallywithholdapercentageoftaxableinterest,dividend,andcertainotherpaymentstoapayeewhodoesnotgiveaTINtothepayer.Certainpenaltiesmayalsoapplyforprovidingfalseorfraudulentinformation.

QuestionsandrequestsforassistancemaybedirectedtotheInformationAgentatitsaddressesandtelephonenumberssetforthbelow.RequestsforcopiesoftheOffertoPurchase,thisLetterofTransmittal,theNoticeofGuaranteedDelivery,theIRSFormW-9andothertenderoffermaterialsmayalsobedirectedtotheInformationAgent.Ashareholdermayalsocontactsuchshareholders'broker,dealer,commercialbank,trustcompanyorothernomineeforassistanceconcerningtheOffer.

The Information Agent for the Offer is:

AllianceAdvisorsLLC

200BroadacresDrive,3rdFloorBloomfield,NJ07003

Call Collect: (973)873-7780or

Call Toll-Free: (888)991-1293Email: reorg@allianceadvisorsllc.com

February2,2017

QuickLinks

EXHIBIT(a)(1)(B)

GUARANTEEOFSIGNATURE(S)(Ifrequired—SeeInstructions1and5)APPLYMEDALLIONGUARANTEESTAMPBELOWINSTRUCTIONSFORMINGPARTOFTHETERMSANDCONDITIONSOFTHEOFFER

QuickLinks--Clickheretorapidlynavigatethroughthisdocument

EXHIBIT (a)(1)(C)

Notice of Guaranteed Delivery For Tender of Shares of Common Stock

of

Arctic Cat Inc. at

$18.50 Per Share by

Aces Acquisition Corp.,

Textron Specialized Vehicles Inc. and

Textron Inc.

THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 3, 2017, UNLESS THE OFFER ISEXTENDED.

ThisNoticeofGuaranteedDelivery(asitmaybeamendedorsupplemented,the"NoticeofGuaranteedDelivery"),oronesubstantiallyequivalenttothisNoticeofGuaranteedDelivery,mustbeusedtoaccepttheOffer(asdefinedbelow)ifcertificatesrepresentingtenderedShares(asdefinedbelow)arenotimmediatelyavailableorthecertificatesrepresentingtenderedSharesandallotherrequireddocumentscannotbedeliveredtoWellsFargoBank,N.A.(the"Depositary")priortotheexpirationoftheOfferoriftheprocedurefordeliverybybook-entrytransfercannotbecompletedpriortotheexpirationoftheOffer.ThisinstrumentmaybedeliveredortransmittedbyfacsimiletransmissionormailedtotheDepositary.SeeSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase(asdefinedbelow).

The Depositary for the Offer is:

Wells Fargo Bank, N.A.

DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR TRANSMISSIONOF INSTRUCTIONS VIA FACSIMILE TO A NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY TOTHE DEPOSITARY.

THIS FORM IS NOT TO BE USED TO GUARANTEE SIGNATURES. IF A SIGNATURE ON A LETTER OF TRANSMITTAL IS REQUIRED TOBE GUARANTEED BY AN "ELIGIBLE INSTITUTION" UNDER THE INSTRUCTIONS TO THE LETTER OF TRANSMITTAL, SUCH SIGNATUREGUARANTEE MUST APPEAR IN THE APPLICABLE SPACE PROVIDED IN THE SIGNATURE BOX IN THE LETTER OF TRANSMITTAL.

THE GUARANTEE ON THE NEXT PAGE MUST BE COMPLETED.

By Mail: By5:00p.m.NYCtimeon

ExpirationDateWellsFargoBank,N.A.ShareownerServices

VoluntaryCorporateActionsP.O.Box64858

St.Paul,Minnesota55164-0858

By Facsimile Transmission:

WellsFargoBank,N.A.ShareownerServices

VoluntaryCorporateActions(800)468-9716(phone)(866)734-9952(fax)

By Hand or Overnight Courier: By5:00p.m.NYCtimeon

ExpirationDateWellsFargoBank,N.A.ShareownerServices

VoluntaryCorporateActions1110CentrePointeCurve,Suite101MendotaHeights,Minnesota55120

LadiesandGentlemen:

Theundersignedherebytender(s)to:

AcesAcquisitionCorp.,aMinnesotacorporation("Purchaser")andadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron"),uponthetermsandsubjecttotheconditionssetforthintheoffertopurchase,datedFebruary2,2017(asitmaybeamendedorsupplementedfromtimetotime,the"OffertoPurchase")andintherelatedletteroftransmittal(asitmaybeamendedorsupplementedfromtimetotime,the"LetterofTransmittal"and,togetherwiththeOffertoPurchase,the"Offer"),receiptofwhichisherebyacknowledged,thenumberofsharesofcommonstock,parvalue$0.01pershare(each,a"Share"andcollectively,the"Shares"),ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),indicatedbelowpursuanttotheguaranteeddeliveryproceduresetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase.

Name(s) of Record Holder(s)

Number of Shares Tendered

Certificate Nos. (if available)

Address(es)

Zip Code

(Area Code) Telephone No.

Account Number

X Dated: , 2017

X Dated: , 2017

Signatures(s) of Record Holder(s)

GUARANTEE (NOT TO BE USED FOR SIGNATURE GUARANTEE)

Theundersigned,abank,broker,dealer,creditunion,savingsassociationorotherentitythatisamemberingoodstandingoftheSecuritiesTransferAgentsMedallionProgramoranyother"eligibleguarantorinstitution,"asdefinedinRule17Ad-15undertheSecuritiesExchangeActof1934,asamended(each,an"EligibleInstitution"),herebyguaranteesthedeliverytotheDepositary,atoneofitsaddressessetforthabove,ofthecertificatesevidencingallSharestenderedbythisNoticeofGuaranteedDeliveryinproperformfortransfer,orconfirmationofthebook-entrytransferofSharesintotheDepositary'saccountatTheDepositoryTrustCompany,ineithercase,togetherwithdeliveryofaproperlycompletedanddulyexecutedLetterofTransmittalwithanyrequiredsignatureguarantee,oranAgent'sMessage(asdefinedintheLetterofTransmittal),andanyotherdocumentsrequiredbytheLetterofTransmittal,withinthree(3)NASDAQtradingdaysafterthedateofexecutionofthisNoticeofGuaranteedDelivery.

TheEligibleInstitutionthatcompletesthisformmustcommunicatetheguaranteetotheDepositaryandmustdelivertheLetterofTransmittalandcertificatesrepresentingtenderedSharestotheDepositarywithinthetimeperiodindicatedherein.FailuretodosomayresultinfinanciallosstosuchEligibleInstitution.

NOTE:DO NOT SEND CERTIFICATES REPRESENTING TENDERED SHARES WITH THIS NOTICE. CERTIFICATES REPRESENTINGTENDERED SHARES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL.

X

Names of Firm

Authorized Signature

Address(es)

Name (Please Print)

Zip Code

Title

(Area Code) Telephone No.

Dated: , 2017

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GUARANTEE(NOTTOBEUSEDFORSIGNATUREGUARANTEE)

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EXHIBIT (a)(1)(D)

Offer to Purchase for Cash All Outstanding Shares of Common Stock

of

Arctic Cat Inc. at

$18.50 Per Share by

Aces Acquisition Corp., Textron Specialized Vehicles Inc.

and

Textron Inc.

THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 3, 2017, UNLESS THE OFFERIS EXTENDED.

February2,2017

ToBrokers,Dealers,CommercialBanks,TrustCompaniesandOtherNominees:

WehavebeenappointedbyAcesAcquisitionCorp.,aMinnesotacorporation("Purchaser")andadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron"),toactasInformationAgentinconnectionwithPurchaser'soffertopurchasealloftheoutstandingsharesofcommonstock,parvalue$0.01pershare(the"ArcticCatCommonStock"orthe"Shares"),ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),atapriceof$18.50perShare(the"OfferPrice"),payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthintheOffertoPurchase(asdefinedbelow)andtheLetterofTransmittalenclosedherewith.

HoldersofShareswhosecertificatesrepresentingsuchShares("Certificates")arenotimmediatelyavailableorwhocannotdelivertheirCertificatesandallotherrequireddocumentstotheDepositary(asdefinedbelow)priortotheexpirationoftheOffer,orwhocannotcompletetheprocedureforbook-entrytransferpriortotheexpirationoftheOffer,musttendertheirSharesaccordingtotheguaranteeddeliveryproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase.

PleasefurnishcopiesoftheenclosedmaterialstothoseofyourclientsforwhoseaccountsyouholdSharesregisteredinyournameorinthenameofyournominee.

EnclosedherewithforyourinformationandforwardingtoyourclientsforwhomyouholdSharesregisteredinyournameorinthenameofyournomineearecopiesofthefollowingdocuments:

1. TheOffertoPurchase,datedFebruary2,2017(asitmaybeamendedorsupplemented,the"OffertoPurchase").

2. TheLetterofTransmittal(asitmaybeamendedorsupplementedthe"LetterofTransmittal")totenderSharesforyouruseandfortheinformationofyourclients.

3. TheNoticeofGuaranteedDeliveryforSharestobeusedtoaccepttheOfferifCertificatesarenotimmediatelyavailableorifsuchCertificatesandallotherrequireddocumentscannotbedeliveredtoWellsFargoBank,N.A.(the"Depositary")priortotheexpirationoftheOfferoriftheprocedureforbook-entrytransfercannotbecompletedbytheexpirationoftheOffer.

4. AprintedformofletterwhichmaybesenttoyourclientsforwhoseaccountsyouholdSharesregisteredinyournameorinthenameofyournominee,withspaceprovidedforobtainingsuchclients'instructionswithregardtotheOffer.

YOURPROMPTACTIONISREQUESTED.WEURGEYOUTOCONTACTYOURCLIENTSASPROMPTLYASPOSSIBLE.PLEASENOTETHATTHEOFFERANDWITHDRAWALRIGHTSEXPIREAT5:00P.M.,NEWYORKCITYTIME,ONMARCH3,2017,UNLESSTHEOFFERISEXTENDED.

ThereisnofinancingconditiontotheOffer.TheOfferisconditionedupon,amongotherthings,(i)thesatisfactionoftheMinimumCondition(asdescribedbelow)and(ii)thenon-occurrenceofaCompanyMaterialAdverseEffect(asdefinedintheMergerAgreement(asdefinedbelow)).Theterm"MinimumCondition"isdefinedintheOffertoPurchaseandgenerallyrequiresthatthenumberofSharesvalidlytenderedandnotproperlywithdrawnpriortotheexpirationoftheOfferwhich,togetherwiththenumberofShares(ifany)thenbeneficiallyownedbyTextronorPurchaser,intheaggregate,orwithrespecttowhichTextronorPurchaserotherwisehas,directlyorindirectly,solevotingpower,representsatleastoneSharemorethan50%oftheFullyDilutedShares(asdefinedbelow).PursuanttotheMergerAgreement,thesatisfactionoftheMinimumConditionwillbedeterminedwithouttreatingasvalidlytenderedSharestenderedviaguaranteeddeliveryproceduresunlesstheDepositaryhasreceivedallrequireditemsonaccountofsuchSharesinsettlementorsatisfactionofanysuchguaranteeatorpriortotheexpirationoftheOffer.TheOfferisalsosubjecttootherconditionssetforthintheOffertoPurchase.SeeSection15—"ConditionsoftheOffer"oftheOffertoPurchase.

"FullyDilutedShares"meansalloutstandingsecuritiesentitledtovoteintheelectionofdirectorsofArcticCatorontheadoptionoftheMergerAgreementandapprovaloftheMerger,togetherwithallsuchsecuritieswhichArcticCatwouldberequiredorpermittedtoissueassumingtheconversionorexchangeofanythen-outstandingwarrants,options,securitiesorinstrumentsconvertibleorexchangeableinto,orrightsexercisablefor,suchsecurities,whetherornotthenconvertible,exchangeableorexercisable.

TheOfferisbeingmadepursuanttoanAgreementandPlanofMerger,datedasofJanuary24,2017(asitmaybeamended,restatedorsupplementedfromtimetotime,the"MergerAgreement"),amongTextron,PurchaserandArcticCat.TheMergerAgreementprovides,amongotherthings,forthemakingoftheOfferbyPurchaser,andfurtherprovidesthat,followingthecompletionoftheOffer,uponthetermsandsubjecttotheconditionssetforthintheMergerAgreement,andinaccordancewiththeMinnesotaBusinessCorporationAct(the"MBCA"),PurchaserwillmergewithandintoArcticCat(the"Merger"),withArcticCatcontinuingasthesurvivingcorporationandanindirectwhollyownedsubsidiaryofTextron.

OnJanuary23,2017,eachoftheArcticCatBoardofDirectors(the"ArcticCatBoard")and,asrequiredbytheMBCA,acommitteeofdisinteresteddirectorsoftheArcticCatBoard,amongotherthings,(i)determinedthattheMergerAgreementandthetransactionscontemplatedtherebyareadvisable,fairtoandinthebestinterestsofArcticCatanditsshareholders,(ii)approvedandadoptedtheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMergerand(iii)recommendedthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserintheOfferand,ifrequiredtoconsummatetheMerger,suchshareholdersapproveandadopttheMergerAgreementandtheMerger.Accordingly,andforotherreasonsdescribedinmoredetailinArcticCat'sTenderOfferSolicitation/RecommendationStatementonSchedule14D-9thatisbeingfiledwiththeUnitedStatesSecuritiesandExchangeCommission(the"SEC")and,togetherwiththeOffertoPurchase,theLetterofTransmittalandotherrelatedmaterials,mailedtotheshareholdersofArcticCatinconnectionwiththeOffer,theArcticCatBoardunanimouslyrecommendsthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserpursuanttotheOffer.

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Inallcases,PurchaserwillpayforSharespurchasedpursuanttotheOfferonlyaftertimelyreceiptbytheDepositaryof:(i)CertificatesrepresentingsuchSharesortimelyconfirmationofabook-entrytransferofsuchSharesintotheDepositary'saccountatTheDepositoryTrustCompanypursuanttotheproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase;(ii)aLetterofTransmittal,properlycompletedanddulyexecuted,withanyrequiredsignatureguaranteesoranAgent'sMessage(asdefinedinSection2—"AcceptanceforPaymentandPaymentforShares"oftheOffertoPurchase)inconnectionwithabook-entrytransfer;and(iii)anyotherdocumentsrequiredbytheLetterofTransmittal.

HoldersofShareswhoseCertificatesarenotimmediatelyavailableorwhocannotdelivertheirCertificatesandallotherrequireddocumentstotheDepositarypriortotheexpirationoftheOffer,orwhocannotcompletetheprocedurefordeliverybybook-entrytransferonatimelybasis,musttendertheirSharesaccordingtotheguaranteeddeliveryproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase.Purchaserwillnotpayanyfeesorcommissionstoanybroker,dealer,commercialbank,trustcompanyorothernominee(otherthantotheDepositaryandtheInformationAgent)(asdescribedintheOffertoPurchase)forsolicitingtendersofSharespursuanttotheOffer.Purchaserwillreimburseyou,uponrequest,forcustomaryclericalandmailingexpensesincurredbyyouinforwardinganyoftheenclosedmaterialstoyourclients.PurchaserwillpayorcausetobepaidanystocktransfertaxespayableonthetransferofSharestoit,exceptasotherwiseprovidedinInstruction6oftheLetterofTransmittal.

AnyinquiriesyoumayhavewithrespecttotheOffershouldbeaddressedtotheInformationAgentatitsaddressandtelephonenumbersetforthonthebackcoveroftheOffertoPurchase.AdditionalcopiesoftheenclosedmaterialsmaybeobtainedfromtheInformationAgent.

Nothing contained herein or in the enclosed documents shall make you or any other person, the agent of Purchaser, Textron, the Depositary or theInformation Agent, or any affiliate of any of them, or authorize you or any other person to make any statement or use any document on behalf of any of themin connection with the Offer other than the enclosed documents and the statements contained therein.

3

Verytrulyyours,

AllianceAdvisorsLLC

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EXHIBIT(a)(1)(D)

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EXHIBIT (a)(1)(E)

Offer to Purchase for Cash All Outstanding Shares of Common Stock

of

Arctic Cat Inc. at

$18.50 Per Share by

Aces Acquisition Corp., Textron Specialized Vehicles Inc.

and

Textron Inc.

THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 3, 2017, UNLESS THE OFFERIS EXTENDED.

February2,2017

ToOurClients:

Enclosedforyourconsiderationisanoffertopurchase,datedFebruary2,2017(asitmaybeamendedorsupplementedfromtimetotime,the"OffertoPurchase"),andtherelatedletteroftransmittal(asitmaybeamendedorsupplementedfromtimetotime,the"LetterofTransmittal,"andtogetherwiththeOffertoPurchase,the"Offer"),relatingtoanofferbyAcesAcquisitionCorp.,aMinnesotacorporation("Purchaser")andadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron"),topurchasealloftheoutstandingsharesofcommonstock,parvalue$0.01pershare(each,a"Share"andcollectively,the"Shares"),ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),atapriceof$18.50perShare(the"OfferPrice"),payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthintheOffertoPurchaseandtheLetterofTransmittalenclosedherewith.

HoldersofShareswhosecertificatesrepresentingsuchShares("Certificates")arenotimmediatelyavailableorwhocannotdelivertheirCertificatesandallotherrequireddocumentstotheDepositary(asdefinedintheOffertoPurchase)priortotheexpirationoftheOffer,orwhocannotcompletetheprocedureforbook-entrytransferpriortotheexpirationoftheOffer,musttendertheirSharesaccordingtotheguaranteeddeliveryproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase.

We are the holder of record of Shares held by us for your account. A tender of such Shares can be made only by us as the holder of record and pursuantto your instructions. The Letter of Transmittal is furnished to you for your information only and cannot be used by you to tender Shares held by us for youraccount.

WerequestinstructionsastowhetheryouwishtohaveustenderonyourbehalfanyorallofsuchSharesheldbyusforyouraccount,pursuanttothetermsandsubjecttotheconditionssetforthintheOffertoPurchase.

Yourattentionisdirectedtothefollowing:

1. TheOfferpriceis$18.50perShare,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.

2. TheOfferismadeforalloutstandingShares.

3. TheOfferisbeingmadepursuanttoanAgreementandPlanofMerger,datedasofJanuary24,2017(asitmaybeamended,restatedorsupplementedfromtimetotime,the"MergerAgreement"),amongTextron,PurchaserandArcticCat.TheMergerAgreementprovides,amongotherthings,forthemakingoftheOfferbyPurchaser,andfurtherprovidesthat,followingthecompletionoftheOffer,uponthetermsandsubjecttotheconditionssetforthintheMergerAgreement,andinaccordancewiththeMinnesotaBusinessCorporationAct(the"MBCA"),PurchaserwillmergewithandintoArcticCat(the"Merger"),withArcticCatcontinuingasthesurvivingcorporationandanindirectwhollyownedsubsidiaryofTextron.

4. OnJanuary23,2017,eachoftheArcticCatBoardofDirectors(the"ArcticCatBoard")and,asrequiredbytheMBCA,acommitteeofdisinteresteddirectorsoftheArcticCatBoard,amongotherthings,(i)determinedthattheMergerAgreementandthetransactionscontemplatedtherebyareadvisable,fairtoandinthebestinterestsofArcticCatanditsshareholders,(ii)approvedandadoptedtheMergerAgreementandthetransactionscontemplatedthereby,includingtheOfferandtheMergerand(iii)recommendedthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserintheOfferand,ifrequiredtoconsummatetheMerger,suchshareholdersapproveandadopttheMergerAgreementandtheMerger.Accordingly,andforotherreasonsdescribedinmoredetailinArcticCat'sTenderOfferSolicitation/RecommendationStatementonSchedule14D-9thatisbeingfiledwiththeUnitedStatesSecuritiesandExchangeCommission(the"SEC")and,togetherwiththeOffertoPurchase,theLetterofTransmittalandotherrelatedmaterials,mailedtotheshareholdersofArcticCatinconnectionwiththeOffer,theArcticCatBoardunanimouslyrecommendsthatArcticCat'sshareholdersaccepttheOfferandtendertheirSharestoPurchaserpursuanttotheOffer.

5. TheOfferandwithdrawalrightswillexpireat5:00P.M.,NewYorkCitytime,onMarch3,2017,unlesstheOfferisextended.

6. ThereisnofinancingconditiontotheOffer.TheOfferisconditionedupon,amongotherthings,(i)thesatisfactionoftheMinimumCondition(asdescribedbelow)and(ii)thenon-occurrenceofaCompanyMaterialAdverseEffect(asdefinedintheMergerAgreement).Theterm"MinimumCondition"isdefinedintheOffertoPurchaseandgenerallyrequiresthatthenumberofSharesvalidlytenderedandnotproperlywithdrawnpriortotheexpirationoftheOfferwhich,togetherwiththenumberofShares(ifany)thenbeneficiallyownedbyTextronorPurchaser,intheaggregate,orwithrespecttowhichTextronorPurchaserotherwisehas,directlyorindirectly,solevotingpower,representsatleastoneSharemorethan50%oftheFullyDilutedShares.PursuanttotheMergerAgreement,thesatisfactionoftheMinimumConditionwillbedeterminedwithouttreatingasvalidlytenderedSharestenderedviaguaranteeddeliveryproceduresunlesstheDepositaryhasreceivedallrequireditemsonaccountofsuchSharesinsettlementorsatisfactionofanysuchguaranteeatorpriortotheexpirationoftheOffer.TheOfferisalsosubjecttootherconditionssetforthintheOffertoPurchase.SeeSection15—"ConditionsoftheOffer"oftheOffertoPurchase."FullyDilutedShares"meansalloutstandingsecuritiesentitledtovoteintheelectionofdirectorsofArcticCatorontheadoptionoftheMergerAgreementandapprovaloftheMerger,togetherwithallsuchsecuritieswhichArcticCatwouldberequiredorpermittedtoissueassumingtheconversionorexchangeofanythen-outstandingwarrants,options,securitiesorinstrumentsconvertibleorexchangeableinto,orrightsexercisablefor,suchsecurities,whetherornotthenconvertible,exchangeableorexercisable.

TheOfferisbeingmadesolelybytheOffertoPurchaseandtherelatedLetterofTransmittalandanyamendmentsorsupplementsthereto.PurchaserisnotawareofanyjurisdictionwherethemakingoftheOfferisprohibitedbyanyadministrativeorjudicialactionpursuanttoanyvalidstatestatute.If

2

PurchaserbecomesawareofanyvalidstatestatuteprohibitingthemakingoftheOffer,Purchaserwillmakeagoodfaithefforttocomplywiththatstatestatute.If,afteragoodfaitheffort,Purchasercannotcomplywiththestatestatute,theOfferwillnotbemadeto,norwillPurchaseraccepttendersfromoronbehalfof,ArcticCatshareholdersinthatstate.Exceptassetforthabove,theOfferisbeingmadetoallholdersofShares.Inanyjurisdictionwherethesecurities,"bluesky"orotherlawsrequiretheOffertobemadebyalicensedbrokerordealer,theOfferwillbedeemedtobemadeonbehalfofPurchaserbyoneormoreregisteredbrokersordealerstobedesignatedbyPurchaserthatarelicensedunderthelawsofsuchjurisdiction.

IfyouwishtohaveustenderanyoralloftheSharesheldbyusforyouraccount,pleaseinstructusbycompleting,executingandreturningtoustheinstructionformcontainedinthisletter.IfyouauthorizeatenderofyourShares,allsuchShareswillbetenderedunlessotherwisespecifiedinsuchinstructionform.YourinstructionsshouldbeforwardedtousinampletimetopermitustosubmitatenderonyourbehalfpriortotheexpirationoftheOffer.

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Instructions with Respect to the Offer to Purchase for Cash

All Outstanding Shares of Common Stock

of

Arctic Cat Inc.by

Aces Acquisition Corp.,

Textron Specialized Vehicles Inc.and

Textron Inc.$18.50 Per Share

Theundersignedacknowledge(s)receiptofyourletterenclosingtheoffertopurchase,datedFebruary2,2017(asitmaybeamendedorsupplemented,the"OffertoPurchase"),andtherelatedletteroftransmittal(asitmaybeamendedorsupplemented,the"LetterofTransmittal"),pursuanttoanofferbyAcesAcquisitionCorp.,aMinnesotacorporation("Purchaser")andadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron"),topurchasealloftheoutstandingsharesofcommonstock,parvalue$0.01pershare(each,a"Share"andcollectively,the"Shares"),ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),atapriceof$18.50perShare(the"OfferPrice"),payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthintheOffertoPurchaseandtheLetterofTransmittal.

ThiswillinstructyoutotenderthenumberofSharesindicatedbelow(or,ifnonumberisindicatedbelow,allShares)whichareheldbyyoufortheaccountoftheundersigned,uponthetermsandsubjecttotheconditionssetforthintheOffertoPurchaseandtheLetterofTransmittalfurnishedtotheundersigned.

The method of delivery of this document is at the election and risk of the tendering shareholder. If delivery is by mail, then registered mail with returnreceipt requested, properly insured, is recommended. In all cases, sufficient time should be allowed to ensure timely delivery.

Dated:,2017

* Unless otherwise indicated, it will be assumed that all of your Shares held by us for your account are to be tendered.

2

AccountNumber:

NumberofSharestobeTendered*:

SIGN HERE

Signature(s)

Print Name(s)

Address(es)

(Area Code) Telephone No.

Tax Identification or Social Security Number(s)

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EXHIBIT(a)(1)(E)

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EXHIBIT (a)(1)(F)

TENDER OFFER INSTRUCTION FORM ARCTIC CAT INC. RETIREMENT SAVINGS PLAN

BEFORECOMPLETINGTHISFORM,PLEASECAREFULLYREADTHEACCOMPANYINGINFORMATION

InresponsetothetenderofferbyAcesAcquisitionCorp.,aMinnesotacorporationandadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation,whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation,topurchasealloutstandingsharesofcommonstock,parvalue$0.01pershare(each,a"Share"andcollectively,the"Shares"),ofArcticCatInc.,aMinnesotacorporation,atapriceof$18.50perShare,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthintheoffertopurchase,datedFebruary2,2017,andintherelatedletteroftransmittal(collectively,the"Offer"),IherebyinstructPrudentialInvestmentManagementServicesLLC(the"Trustee")totendertheSharesallocatedtomyaccountundertheArcticCatInc.RetirementSavingsPlan(the"Plan")inresponsetotheOfferasfollows:

Your participation in this tender offer is voluntary. If you wish to make an election please proceed below. If you do not wish to make an election, no action isrequired.

PLEASE COMPLETE THE REMAINDER OF THE FORM

o I direct the Trustee to tender ALL of the Shares allocated to my account under the Plan.

o % (insert a percentage in whole numbers, 1%-99%), I direct the Trustee to tender the written percentage of the Shares allocated to my accountunder the Plan. (If you check this box but fail to insert a percentage, your direction will be treated as a direction NOT to tender any of the Shares allocated toyour account under the Plan.)

You may submit your tender instruction to Wells Fargo Bank, N.A. the Depositary for the Offer.

Tender Offer Instructions that are not timely received will be treated as an instruction not to tender the Shares.

Please submit your written instructions by mailing this completed form promptly in the enclosed envelope or via overnight courier service to WellsFargo Bank, N.A., Attn: Voluntary Corporate Actions, 1110 Centre Pointe Curve, Suite 101, Mendota Heights, MN 55120

Shares Held Outside the Plan. TheprocessoutlinedinthisTenderOfferInstructionFormappliesonlytoSharesallocatedtoyouraccountunderthePlan.IfyouwishtotenderanySharesotherthantheSharesallocatedtoyouraccountunderthePlan,youmustfollowthegeneralinstructionssetforthintheOffer.

Withdrawal Rights. Yourdirectionwillbedeemedirrevocableunlesswithdrawnby5p.m.,NewYorkCitytime,onTuesday,February28,2017,unlessthetenderofferisextended.Inordertomakeaneffectivewithdrawal,you must submit written request to the Depositary. In order to make a new election, you mustsubmit a new Tender Offer Instruction Form which may be obtained by calling Alliance Advisors LLC, the information agent, at (973) 873-7780 (CallCollect) or (888) 991-1293 (Call Toll-Free).

I hereby withdraw Number of Shares in my 401(k) account from the Offer.

IN EITHER CASE, YOUR INSTRUCTION MUST BE RECEIVED BY WELLS FARGO NO LATER THAN 5:00 P.M., NEW YORK CITY TIME,ON TUESDAY, FEBRUARY 28, 2017, OR YOUR SHARES WILL NOT BE TENDERED.

Printed Name

,2017Signature Date

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EXHIBIT (a)(1)(G)

This announcement is neither an offer to purchase nor a solicitation of an offer to sell Shares (as defined below). The Offer (as defined below) is made solely bythe Offer to Purchase, dated February 2, 2017, and the related Letter of Transmittal (as defined below), and any amendments or supplements thereto. Purchaser (asdefined below) is not aware of any state where the making of the Offer is prohibited by administrative or judicial action pursuant to any valid state statute. IfPurchaser becomes aware of any valid state statute prohibiting the making of the Offer, Purchaser will make a good faith effort to comply with such statute. If, aftersuch good faith effort, Purchaser cannot comply with such state statute, the Offer will not be made to, nor will tenders be accepted from or on behalf of, the holders ofShares in such state. Except as set forth above, the Offer is being made to all holders of Shares. In any jurisdiction where the securities, "blue sky" or other lawsrequire the Offer to be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Purchaser by one or more registered brokers or dealersto be designated by Purchaser that are licensed under the laws of such jurisdiction.

Notice of Offer to Purchase for Cash All Outstanding Shares of Common Stock

of

Arctic Cat Inc. at

$18.50 Per Share by

Aces Acquisition Corp., Textron Specialized Vehicles Inc.

and

Textron Inc.AcesAcquisitionCorp.,aMinnesotacorporation("Purchaser")andadirectwhollyownedsubsidiaryofTextronSpecializedVehiclesInc.,aDelawarecorporation("TextronSpecializedVehicles"),whichisadirectwhollyownedsubsidiaryofTextronInc.,aDelawarecorporation("Textron"),isofferingtopurchasealloutstandingsharesofcommonstock,parvalue$0.01pershare(each,a"Share"andcollectively,the"Shares"),ofArcticCatInc.,aMinnesotacorporation("ArcticCat"),atapriceof$18.50perShare(the"OfferPrice"),payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw,uponthetermsandsubjecttotheconditionssetforthintheoffertopurchase,datedFebruary2,2017(asitmaybeamendedorsupplementedfromtimetotime,the"OffertoPurchase")andintherelatedletteroftransmittal(asitmaybeamendedorsupplementedfromtimetotime,the"LetterofTransmittal"and,togetherwiththeOffertoPurchase,the"Offer").TenderingshareholdersofArcticCatwhohaveSharesregisteredintheirnamesandwhotenderdirectlytoWellsFargoBank,N.A.,whichisactingasthedepositaryinconnectionwiththeOffer(the"Depositary"),willnotbechargedbrokeragefeesorcommissionsor,exceptasprovidedintheLetterofTransmittal,transfertaxesonthepurchaseofSharespursuanttotheOffer.ShareholderswhoholdtheirSharesthroughabroker,dealer,commercialbank,trustcompanyorothernomineeshouldconsultwithsuchinstitutionastowhetheritchargesanysuchfeesorcommissions.

Textronand/orPurchaserwillpayallchargesandexpensesoftheDepositaryandAllianceAdvisorsLLC,whichisactingasinformationagentfortheOffer(the"InformationAgent"),incurredinconnectionwiththeOffer.PurchaserisofferingtopurchasealltheSharesasafirststepinacquiringtheentireequityinterestinArcticCat.FollowingcompletionoftheOffer,PurchaserintendstoeffecttheMerger(asdefinedbelow).

THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 3, 2017, UNLESS THE OFFER ISEXTENDED.

ThereisnofinancingconditiontotheOffer.TheOfferisconditionedupon,amongotherthings,(1)thesatisfactionoftheMinimumCondition(asdescribedbelow)and(2)thenon-occurrenceofaCompanyMaterialAdverseEffect(asdefinedintheMergerAgreement(asdefinedbelow)).

Theterm"MinimumCondition"isdefinedintheOffertoPurchaseandgenerallyrequiresthatthenumberofSharesvalidlytenderedandnotproperlywithdrawnpriortotheexpirationoftheOfferwhich,togetherwiththenumberofShares(ifany)thenbeneficiallyownedbyTextronorPurchaser,intheaggregate,orwithrespecttowhichTextronorPurchaserotherwisehas,directlyorindirectly,solevotingpower,representsatleastoneSharemorethan50%oftheFullyDilutedShares(asdefinedbelow).PursuanttotheMergerAgreement,thesatisfactionoftheMinimumConditionwillbedeterminedwithouttreatingasvalidlytenderedSharestenderedviaguaranteeddeliveryproceduresunlesstheDepositaryhasreceivedallrequireditemsonaccountofsuchSharesinsettlementorsatisfactionofanysuchguaranteeatorpriortotheexpirationoftheOffer.TheOfferisalsosubjecttootherconditionssetforthintheOffertoPurchase.SeeSection15—"ConditionsoftheOffer"oftheOffertoPurchase.

"FullyDilutedShares"meansalloutstandingsecuritiesentitledtovoteintheelectionofdirectorsofArcticCatorontheadoptionoftheMergerAgreementandapprovaloftheMerger,togetherwithallsuchsecuritieswhichArcticCatwouldberequiredorpermittedtoissueassumingtheconversionorexchangeofanythen-outstandingwarrants,options,securitiesorinstrumentsconvertibleorexchangeableinto,orrightsexercisablefor,suchsecurities,whetherornotthenconvertible,exchangeableorexercisable.

ThepurposeoftheOfferistoacquirecontrolof,andtheentireequityinterestin,ArcticCat.Nodissenters'rightsareavailabletoholdersofSharesinconnectionwiththeOffer.

TheOfferisbeingmadepursuanttoanAgreementandPlanofMerger,datedasofJanuary24,2017(asitmaybeamended,restatedorsupplementedfromtimetotime,the"MergerAgreement"),amongTextron,PurchaserandArcticCat.TheMergerAgreementprovides,amongotherthings,that,followingthecompletionoftheOffer,uponthetermsandsubjecttotheconditionssetforthintheMergerAgreement,andinaccordancewiththeMinnesotaBusinessCorporationAct(the"MBCA"),PurchaserwillmergewithandintoArcticCat(the"Merger"),withArcticCatcontinuingasthesurvivingcorporationandanindirectwhollyownedsubsidiaryofTextron.

PursuanttotheMergerAgreement,attheeffectivetimeoftheMergereachoutstandingShare(otherthanSharesownedby(a)TextronorPurchaseroranyothersubsidiaryofTextronor(b)anyshareholderofArcticCatwhoisentitledtoandproperlydemandsandexercisesdissenters'rightswithrespecttosuchSharespursuantto,andcompliesinallrespectswith,theapplicableprovisionsofMinnesotalaw)willbeconvertedintotherighttoreceive$18.50,payablenettotheholderthereofincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.TextronhasagreedundertheMergerAgreementtoprovideorcausetobeprovidedtoPurchaserthefundsnecessarytopayforanySharesthatPurchaserbecomesobligatedtopurchasepursuanttotheOffer.TheMergerAgreementismorefullydescribedinSection12—"MergerAgreement;OtherAgreements"oftheOffertoPurchase.

On January 23, 2017, each of the Arctic Cat Board of Directors (the " ArcticCatBoard") and, as required by the MBCA, a committee of disinteresteddirectors of the Arctic Cat Board, among other things, (i) determined that the Merger Agreement and the transactions contemplated thereby are advisable,fair to and in the best interests of Arctic Cat and its shareholders, (ii) approved and adopted the Merger Agreement and the transactions contemplatedthereby, including the Offer and the Merger and (iii) recommended that Arctic Cat's shareholders accept the Offer and tender their Shares to Purchaser inthe Offer and, if required to consummate the Merger, such shareholders approve and adopt the Merger Agreement and the Merger. Accordingly, and forother reasons described in more detail in Arctic Cat's Tender Offer Solicitation/Recommendation Statement on Schedule 14D-9 that is

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being filed with the United States Securities and Exchange Commission (the " SEC") and, together with the Offer to Purchase, the Letter of Transmittal andother related materials, mailed to the shareholders of Arctic Cat in connection with the Offer, the Arctic Cat Board unanimously recommends that ArcticCat's shareholders accept the Offer and tender their Shares to Purchaser pursuant to the Offer.

PursuanttotheMergerAgreement,ArcticCatgrantedtoPurchaseranirrevocableoption(the"TopUpOption"),exercisableonlyaftertheacceptanceforpaymentofSharesintheOffer,topurchase,atapricepershareequaltotheOfferPrice,additionalShares(the"TopUpOptionShares")equaltothelowestnumberofSharesthat,whenaddedtothenumberofSharesowned,directlyorindirectly,byTextronandPurchaser,willconstituteoneSharemorethan90%oftheFullyDilutedShares(aftergivingeffecttotheissuanceoftheTopUpOptionShares).TheTopUpOptionisnotexercisableunlessimmediatelyaftersuchexerciseandtheissuanceoftheTopUpOptionShares,TextronandPurchaserwould,directlyorindirectly,hold,intheaggregate,atleast90%oftheoutstandingShares.TheTopUpOptionisnotexercisableforanumberofSharesinexcessofArcticCat'stotalauthorizedandunissuedShares.TheaggregateparvalueoftheSharesissuedpursuanttotheTopUpOptionistobepaidincashandthebalanceoftheaggregatepriceistobepaidbyapromissorynoteofPurchaserorcash,oracombinationofcashandapromissorynote.Anysuchpromissorynote(i)willbearinterestattherateperannumequaltotheshort-termapplicablefederalrateonthedateofexecutionanddeliveryofsuchpromissorynote,payableinarrearsatmaturity,(ii)willmatureonthefirstanniversaryofthedateofexecutionanddeliveryofsuchpromissorynote,(iii)maybeprepaidwithoutpremiumorpenaltyand(iv)willhavenoothermaterialterms.ThepurposeoftheTopUpOptionistopermitPurchasertoconsummatetheMergerasa"short-form"mergerpursuanttoSection302A.621oftheMBCAandwithoutconveningameetingoftheshareholdersofArcticCat.FollowingtheOffer,ifTextronandPurchaser,directlyorindirectly,wouldnotown,intheaggregate,atleast90%oftheoutstandingShares,avoteoftheshareholdersofArcticCatisrequiredtoconsummatetheMerger.Insuchcase,theapprovaloftheMergeratameetingoftheshareholdersofArcticCatwouldbeassuredbecauseofPurchaser'sownershipofatleastoneSharemorethan50%oftheFullyDilutedSharesfollowingcompletionoftheOffer.

UponthetermsandsubjecttotheconditionsoftheMergerAgreement,intheeventthatTextronandPurchaseracquire,intheaggregate,atleast90%ofthethen-outstandingShares,thepartieshaveagreedtotakeallnecessaryandappropriateactiontocausetheMergertobecomeeffectiveaspromptlyaspracticablewithoutameetingoftheshareholdersofArcticCatinaccordancewithSection302A.621oftheMBCA.

ForpurposesoftheOffer,Purchaserwillbedeemedtohaveacceptedforpayment,andtherebypurchased,Sharesvalidlytenderedandnotproperlywithdrawnas,ifandwhenPurchasergivesoralorwrittennoticetotheDepositaryofPurchaser'sacceptanceforpaymentofsuchSharespursuanttotheOffer.UponthetermsandsubjecttotheconditionsoftheOffer,paymentforSharesacceptedforpaymentpursuanttotheOfferwillbemadebydepositoftheOfferPricewiththeDepositary,whichwillactasagentfortenderingshareholdersofArcticCatforthepurposeofreceivingpaymentsfromPurchaserandtransmittingsuchpayments,lessanyapplicablewithholdingtax,toshareholdersofArcticCatwhoseShareshavebeenacceptedforpayment.UndernocircumstanceswillPurchaserpayinterestontheOfferPrice,regardlessofanyextensionoftheOfferoranydelayinmakingsuchpayment.

Inallcases,PurchaserwillpayforSharestenderedandacceptedforpaymentpursuanttotheOfferonlyaftertimelyreceiptbytheDepositaryof(i)certificatesrepresentingsuchShares,ortimelyconfirmationofabook-entrytransferofsuchSharesintotheDepositary'saccountatTheDepositoryTrustCompanypursuanttotheproceduressetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase,(ii)aLetterofTransmittal(orafacsimilethereof),properlycompletedanddulyexecuted,withanyrequiredsignatureguaranteesoranAgent'sMessage

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(asdefinedinSection2—"AcceptanceforPaymentandPaymentforShares"oftheOffertoPurchase)inconnectionwithbook-entrytransfer,and(iii)anyotherdocumentsrequiredbytheLetterofTransmittal.

TheMergerAgreementprovidesthatPurchasermay,initssolediscretion,extendtheOfferforoneormoreperiodsofuptotwenty(20)businessdayseachif,atthethenscheduledexpirationdateoftheOffer,anyoftheconditionstotheOffersetforthintheMergerAgreementanddescribedinSection15—"ConditionsoftheOffer"oftheOffertoPurchasehavenotbeensatisfiedor,totheextentpermittedbyapplicablelaw,waivedbyTextronorPurchaser.TheMergerAgreementalsoprovidesthatPurchaserwillextendtheexpirationdateoftheOfferforanyperiodorperiodsrequiredbyapplicablelaworanyapplicablerule,regulation,interpretationorpositionoftheSECoritsstaff.InnoeventwillPurchaserberequiredtoextendtheOfferforanyreasonbeyondtheearliertooccurof(a)thedatetheMergerAgreementisterminatedor(b)May24,2017.SeeSection1—"TermsoftheOffer"oftheOffertoPurchaseforadditionalinformationaboutPurchaser'sobligationstoextendtheOffer.

If,attheexpirationoftheOffer,alloftheconditionstotheOfferhavebeensatisfiedor,totheextentpermittedbyapplicablelaw,waived,PurchaserwillacceptforpaymentandpromptlypayforSharestenderedandnotproperlywithdrawnintheOffer.FollowingPurchaser'sacceptanceandpaymentforSharestenderedintheOffer,Purchaserwill,ifrequired,inordertoenableTextronandPurchasertoacquire,intheaggregate,atleast90%oftheSharesthenoutstanding,provideforone"subsequentofferingperiod"(asprovidedinRule14d-11undertheSecuritiesExchangeActof1934,asamended(the"ExchangeAct"))ofnotlessthanthree(3)normorethantwenty(20)businessdays(the"SubsequentOfferingPeriod")asdeterminedinthesolediscretionofTextronandPurchaser.DuringtheSubsequentOfferingPeriod,shareholdersofArcticCatmaytender,butnotwithdraw,theirSharesandreceivetheOfferPrice,andallSharesthatarevalidlytenderedpursuanttotheOfferwillbeimmediatelyacceptedforpaymentbyPurchaserandPurchaserwillimmediatelypayforsuchSharesattheOfferPrice.

SharestenderedpursuanttotheOffermaybewithdrawnatanytimepriortoMarch3,2017,theinitialexpirationoftheOffer(includinganyextensionsthereofbutexcludingthependencyoftheSubsequentOfferingPeriod).IfnotacceptedforpaymentasprovidedintheOffertoPurchaseonorpriortoApril27,2017,SharesmayalsobewithdrawnatanytimeafterApril27,2017.

ForawithdrawalofSharestobeeffective,awrittentransmissionnoticeofwithdrawalmustbetimelyreceivedbytheDepositaryatoneofitsaddressessetforthonthebackcoveroftheOffertoPurchase.AnysuchnoticeofwithdrawalmustspecifythenameofthepersonwhotenderedtheSharestobewithdrawn,thenumberofSharestobewithdrawnandthenameoftheregisteredholder,ifdifferentfromthatofthepersonwhotenderedsuchShares.IfcertificatesfortheSharestobewithdrawnhavebeendeliveredorotherwiseidentifiedtotheDepositary,then,priortothephysicalreleaseofthecertificates,theserialnumbersshownonsuchcertificatesmustbesubmittedtotheDepositaryandthesignaturesonthenoticeofwithdrawalmustbeguaranteedbyanEligibleInstitution(asdefinedintheOffertoPurchase)unlesssuchShareshavebeentenderedfortheaccountofanEligibleInstitution.IfShareshavebeentenderedpursuanttotheprocedureforbook-entrytransferassetforthinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase,anynoticeofwithdrawalmustspecifythenameandnumberoftheaccountatTheDepositoryTrustCompanytobecreditedwiththewithdrawnShares.Allquestionsastoformandvalidity(includingtimeofreceipt)ofanynoticeofwithdrawalwillbedeterminedbyPurchaser,initssolediscretion.NoneofTextron,Purchaseroranyoftheirrespectiveaffiliatesorassigns,theDepositary,theInformationAgentoranyotherpersonorentitywillbeunderanydutytogiveanynotificationofanydefectsorirregularitiesinanynoticeofwithdrawalorincuranyliabilityforfailuretogiveanysuchnotification.WithdrawalsofSharesmaynotberescinded.AnySharesproperlywithdrawnwillbeconsiderednottohavebeenvalidlytenderedforpurposesoftheOffer.However,

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withdrawnSharesmaybere-tenderedatanytimepriortotheexpirationoftheOfferorduringtheSubsequentOfferingPeriodbyfollowingoneoftheproceduresdescribedinSection3—"ProceduresforAcceptingtheOfferandTenderingShares"oftheOffertoPurchase.

TheinformationrequiredtobedisclosedbyRule14d-6(d)(1)undertheExchangeActiscontainedintheOffertoPurchaseandisincorporatedhereinbyreference.

ArcticCathasprovidedTextronandPurchaserwiththeshareholderlistofArcticCatandsecuritypositionlistingforthepurposeofdisseminatingtheOffertoholdersofShares.TheOffertoPurchaseandtherelatedLetterofTransmittalandotherrelevantmaterialswillbemailedbyPurchasertorecordholdersofSharesandfurnishedtobrokers,dealers,commercialbanks,trustcompaniesandothernomineeswhosenamesappearontheshareholderlistor,ifapplicable,whoarelistedasparticipantsinaclearingagency'ssecuritypositionlisting,forforwardingtobeneficialownersofShares.

ThereceiptofcashforSharesintheOfferortheMergerwillbeataxabletransactionforUnitedStatesfederalincometaxpurposesandmayalsobeataxabletransactionunderapplicablestate,localorforeigntaxlaws.ShareholdersshouldconsultwiththeirtaxadvisorsastotheparticulartaxconsequencesoftheOfferandtheMergertothem,includingtheapplicabilityandeffectofthealternativeminimumtaxandanystate,localorforeignincomeandothertaxlawsandofchangesinsuchtaxlaws.ForamorecompletedescriptionofmaterialUnitedStatesfederalincometaxconsequencesoftheOfferandtheMerger,seeSection5—"MaterialUnitedStatesFederalIncomeTaxConsequences"oftheOffertoPurchase.

The Offer to Purchase and the related Letter of Transmittal contain important information which should be read carefully before any decision is madewith respect to the Offer.

AnyquestionsandrequestsforassistancemaybedirectedtotheInformationAgentatitsaddressandtelephonenumberassetforthbelow.RequestsforcopiesoftheOffertoPurchaseandtherelatedLetterofTransmittalandallothertenderoffermaterialsmaybedirectedtotheInformationAgent,andcopieswillbefurnishedpromptlyatTextron'sexpense.Shareholdersmayalsocontacttheirbanks,brokers,commercialbanksortrustcompaniesforassistanceconcerningtheOffer.TextronandPurchaserwillnotpayanyfeesorcommissionstoanybroker,dealer,commercialbank,trustcompanyorothernominee(otherthantheInformationAgent)forsolicitingtendersofSharespursuanttotheOffer.

The Information Agent for the Offer is:

AllianceAdvisorsLLC

200BroadacresDrive,3rdFloorBloomfield,NJ07003

Call Collect :(973)873-7780or

Call Toll-Free :(888)991-1293Email :reorg@allianceadvisorsllc.com

February2,2017

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EXHIBIT (a)(5)(B)

Media Contact: DavidSylvestre—401-457-2362

Textron Inc. Commences Tender Offer for Acquisition of Arctic Cat Inc.

Providence,RI,February2,2017:TextronInc.(NYSE:TXT)announcedtodayithascommencedatenderofferforalloftheissuedandoutstandingsharesofcommonstock(the"Shares ")ofArcticCatInc.(NASDAQ:ACAT)for$18.50pershare,payablenettotheholderincash,withoutinterest,subjecttoanywithholdingoftaxesrequiredbyapplicablelaw.

ThetenderofferisbeingmadepursuanttoanOffertoPurchase,datedFebruary2,2017,andinconnectionwiththepreviouslyannouncedAgreementandPlanofMerger,datedJanuary24,2017,amongTextron,Textron'sacquisitionsubsidiaryandArcticCat(the"Merger Agreement ").

ThetenderofferwillexpireonMarch3,2017,at5:00p.m.,NewYorkCitytime,unlessextendedinaccordancewiththeMergerAgreementandtheapplicablerulesandregulationsoftheSecuritiesandExchangeCommission(the"SEC ").Anyextensionofthetenderofferwillbefollowedaspromptlyaspracticablebypublicannouncementthereof,andsuchannouncementwillbemadenolaterthan9:00a.m.,NewYorkCitytime,onthenextbusinessdayafterthepreviouslyscheduledexpirationdate.

Thetenderofferissubjecttocustomaryconditions,includingthetenderofatleastonesharemorethan50%oftheoutstandingShares(calculatedonafully-dilutedbasis).ArcticCat'sboardofdirectorshasapprovedthetransactionandunanimouslyrecommendedthatitsshareholderstendertheirSharespursuanttothetenderoffer.

Today,atenderofferstatementonScheduleTOwasfiledbyTextronwiththeSEC,whichsetsforthindetailthetermsofthetenderoffer.ArcticCatfiledtodaywiththeSECaSolicitation/RecommendationStatementonSchedule14D-9settingforthindetail,amongotherthings,therecommendationofArcticCat'sboardofdirectorsthatArcticCatshareholdersacceptthetenderofferandtendertheirSharespursuanttothetenderoffer.

TheDepositaryandPayingAgentforthetenderofferisWellsFargoBank,N.A.TheInformationAgentforthetenderofferisAllianceAdvisors,LLC.ThetenderoffermaterialsmaybeobtainedatnochargebydownloadingthemfromtheSEC'swebsiteathttp://www.sec.gov.TheScheduleTOTenderOfferStatementandrelatedmaterialsmaybeobtainedforfreebydirectingsuchrequeststoTextronInc.,Attention:InvestorRelationsat(401)457-2288.TheSchedule14D-9Solicitation/RecommendationStatementandsuchotherdocumentsmaybeobtainedforfreefromArcticCatunderthe"InvestorRelations"sectionofArcticCat'swebsiteathttp://phx.corporate-ir.net/phoenix.zhtml?c=97941&p=irol-irhome.

About Textron Inc.

TextronInc.isamulti-industrycompanythatleveragesitsglobalnetworkofaircraft,defense,industrialandfinancebusinessestoprovidecustomerswithinnovativesolutionsandservices.TextronisknownaroundtheworldforitspowerfulbrandssuchasBellHelicopter,Cessna,Beechcraft,Hawker,Jacobsen,Kautex,Lycoming,E-Z-GO,Greenlee,TextronOffRoad,TextronSystems,andTRUSimulation+Training.Formoreinformationvisit:www.textron.com.

Certainstatementsinthispressreleasemaydescribestrategies,goals,outlookorothernon-historicalmatters;theseforward-lookingstatementsspeakonlyasofthedateonwhichtheyaremade,andweundertakenoobligationtoupdatethem.Thesestatementsaresubjecttoknownandunknownrisks,uncertainties,andotherfactorsthatmaycauseouractualresultstodiffermateriallyfromthoseexpressedorimpliedbysuchforward-lookingstatements.

Investor Contacts: EricSalander—401-457-2288D'AnteNatili—401-457-2288

FOR IMMEDIATE RELEASE

Contacts

Investor related questions, via the Information Agent for the tender offer:

Legal Notices and Disclaimers

Thispressreleaseisforinformationalpurposesonly.ItdoesnotconstituteanoffertopurchaseSharesorasolicitation/recommendationundertherulesandregulationsoftheSEC.Purchaser,TextronSpecializedVehiclesInc.andTextronfiledaTenderOfferStatementonScheduleTOwiththeSECandArcticCatfiledaSolicitation/RecommendationStatementonSchedule14D-9withtheSEC,ineachcasewithrespecttotheoffer.TheTenderOfferStatement(includinganoffertopurchase,arelatedletteroftransmittalandotherofferdocuments)andtheSolicitation/RecommendationStatementcontainimportantinformationthatshouldbereadcarefullybeforeanydecisionismadewithrespecttothetenderoffer.ThosematerialsandallotherdocumentsfiledbyTextronorPurchaserwiththeSECwillbeavailableatnochargeontheSEC'swebsiteatwww.sec.gov.

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AllianceAdvisors,LLC (973)873-7780(CallCollect)or(888)991-1293(CallToll-Free)Email:reorg@allianceadvisorsllc.com

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EXHIBIT(a)(5)(B)

TextronInc.CommencesTenderOfferforAcquisitionofArcticCatInc.

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EXHIBIT (d)(2)

CONFIDENTIALITY AGREEMENT

ThisConfidentialityAgreement(this"Agreement "),effectiveasofOctober6,2016(the"Effective Date "),isbyandbetweenArcticCatInc.,aMinnesotacorporation("Arctic Cat "),andTextronInc.,aDelawarecorporationwithitsheadquarterslocatedinProvidence,RhodeIsland("Recipient ").

WHEREAS,inconnectionwithRecipient'sevaluationofapotentialstrategictransactiontobenegotiatedbetweenArcticCatandRecipient(a"Transaction "),RecipientdesirestoreceivecertaininformationfromArcticCatthatisnon-public,confidential,orproprietaryinnature;and

WHEREAS,ArcticCatdesirestodisclosetoRecipientnon-public,confidential,orproprietaryinformationregardingArcticCat,subjecttothetermsandconditionsofthisAgreement.

NOW,THEREFORE,inconsiderationofthemutualcovenants,termsandconditionssetforthherein,ArcticCatandRecipientagreeasfollows:

1. ArcticCatandRecipientagreethat,asusedinthisAgreement,"Confidential Information "shallrefertoallinformationthatisnotgenerallyknowntothepublic,orthatisconfidentialorproprietary,andisdisclosedbefore,onoraftertheEffectiveDatebyArcticCattoRecipientoritsaffiliates,ortoanyemployees,officers,directors,partners,shareholders,agents,attorneys,accountantsoradvisors(collectively,"Representatives ")ofRecipientoritsaffiliates,whetherdisclosedorallyordisclosedoraccessedinwritten,electronicorotherformormedia,andwhetherornotmarked,designatedorotherwiseidentifiedas"confidential,"including,withoutlimitation:

a) allinformationconcerningArcticCat'sanditsaffiliates',andtheirdealers',customers',suppliers',commercialpartners'andotherthirdparties',past,presentandfuturebusinessaffairsincluding,withoutlimitation,informationregardingproductsandproductplansanddesigns,services,supplierinformation,subcontractorinformation,consultantinformation,organizationalstructureandinternalpractices,forecasts,salesandotherfinancialinformationandresults,recordsandbudgets,bankingandinvestmentinformation,capitalinvestments,currentandpotentialstrategicinitiatives,partnershipsandrelationships,pricingorpurchasinginformation,andbusiness,marketing,development,financial,salesandothercommercialstrategies,plansorproposals,initiatives,techniques,programs,andmethodsofoperation;

b) informationrelatingtoproprietaryrightsanddata,ideas,know-how,tradesecrets,inventions,licenses,techniques,improvements,design,designconceptsanddocumentation,drawings,schematics,algorithms,sourcecode,objectcode,research,development,technology,processes,programdocumentation,productdevelopment,electronicdata,softwareowned,licensedordevelopedbyArcticCatoritsaffiliates,formulae,technicalinformation,licenses,pendingpatentablematerialsand/ordesigns,testsand/orteststandardsormanuals;

c) informationrelatingtoemployeesandemployeecompensationandbenefits;

d) anythird-partyconfidentialinformationincludedwith,orincorporatedin,anyinformationprovidedbyArcticCattoRecipientoritsRepresentatives;

e) anyotherinformationthatwouldreasonablybeconsiderednon-public,confidentialorproprietarygiventhenatureoftheinformationandthebusinessesofArcticCatandRecipient;and

f) allnotes,analyses,compilations,reports,forecasts,studies,samples,data,statistics,summaries,interpretationsandothermaterials(collectively,"Notes ")preparedbyorfor

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RecipientoritsRepresentativesthatcontain,arebasedon,orotherwisereflectorarederivedfrom,inwholeorinpart,anyoftheforegoing.

2. Exceptasrequiredbyapplicablefederal,stateorlocallaworregulation,theterm"Confidential Information "asusedinthisAgreementshallnotincludeinformationthat:

a) atthetimeofdisclosureis,orthereafterbecomes,generallyavailabletoandknownbythepublicotherthanasaresultof,directlyorindirectly,anyactoromissionbyRecipientoranyofitsRepresentatives;

b) atthetimeofdisclosureis,orthereafterbecomes,availabletoRecipientonanon-confidentialbasisfromathird-partysource,providedthatsuchthirdpartyisnotandwasnotprohibitedfromdisclosingsuchConfidentialInformationtoRecipientbyanylegal,fiduciaryorcontractualobligation;

c) wasknownbyorinthepossessionofRecipient,asestablishedbydocumentaryevidence,priortobeingdisclosedbyoronbehalfofArcticCatpursuanttothisAgreement;or

d) wasorisindependentlydevelopedbyRecipient,asestablishedbydocumentaryevidence,withoutreferencetooruseof,inwholeorinpart,anyofArcticCat'sConfidentialInformation.

3. RecipientagreesthattheConfidentialInformationshallbeusedonlytoevaluateaTransactionandshallnotbeusedforanyotherpurposeordisclosedtoanythirdpartyexceptasprovidedherein.Recipientagreesnottotakeanyactionthatwould,directlyorindirectly,causealaw,regulationorcourtordertorequiredisclosureofanyConfidentialInformation.Notwithstandingtheforegoing,intheeventthatRecipientisrequiredbylaworregulation,oravalidorderissuedbyacourtorgovernmentalagencyofcompetentjurisdiction,todiscloseanyConfidentialInformation,Recipientwill:(i)provideArcticCatwithpromptnoticeofsuchrequirementpriortothedisclosure;(ii)refrainfromtakinganactionifRecipient,bysorefraining,wouldnotberequiredtodisclosesuchConfidentialInformation;(iii)giveArcticCatallavailableinformation,reasonableassistanceandnecessaryauthoritytoenableArcticCattotakethemeasuresthatArcticCat,initssolediscretion,maydeemappropriateornecessarytoprotecttheConfidentialInformationfromdisclosure;and(iv)if,afterprovidingsuchnoticetoArcticCatsuchthatArcticCathashadanopportunitytoseekprotectionoranotherremedy,RecipientremainssubjecttotherequirementtodisclosetheConfidentialInformation,limitwhatisdisclosedtothemaximumextentpossibleunderlaworregulationandusecommerciallyreasonableeffortstoobtainassurancesfromtheapplicablecourtoragencythatsuchConfidentialInformationwillbeaffordedconfidentialtreatment.

4. Recipientagreesthatitwillcomply,andwillrequireitsRepresentativestocomply,withallapplicablefederal,stateandlocaldataprotectionlawsandregulationsinthemaintenance,disclosureanduseofallPersonalInformationcontainedinanyConfidentialInformationthatisdisclosedtotheRecipientoritsRepresentativeshereunder.ForpurposesofthisAgreement,"Personal Information "meansinformationthatrelatestoanindividualpersonandidentifiesorcanbeusedtoidentify,locateorcontactthatindividualaloneorwhencombinedwithotherpersonaloridentifyinginformationthatisorcanbeassociatedwiththatspecificindividual.

5. RecipientacknowledgesthatitconductsbusinessinsimilarandadjacentbusinessspacesasArcticCat,andforthatreasonagreestoholdallConfidentialInformationinabsolutetrustandconfidence,andtoprotectandsafeguardagainsttheunnecessarydisseminationofConfidentialInformationbothinsideandoutsidetheRecipient'sbusinesses.RecipientwillnotdiscloseorrenderaccessibleConfidentialInformationtoRecipient'saffiliatesunlessanduntilconsentedtoinwritingbyArcticCat.Recipientshallfurthertakeallstepsnecessaryand

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sufficienttoensurethatConfidentialInformationisnotrenderedaccessibletoindividualRepresentativesthatarenotdirectlyinvolvedinevaluatingtheTransaction.RecipientwillfurtherensurethatallindividualswhoaregivenaccesstoConfidentialInformationwillbespecificallyidentifiedtoArcticCatinwritinginadvanceofbeingprovidedaccesstoConfidentialInformation.Uponwrittennotification,ArcticCatshallhavetwobusinessdaystoobjecttoanyindividualRecipientbeingprovidedaccesstoConfidentialInformation,unlessearlierwaivedinwritingbyArcticCat.InadvanceofbeingprovidedaccesstoConfidentialInformation,eachindividualRecipientwill(i)beprovidedacopyofthisAgreementand(ii)executeanacknowledgementintheformprovidedinAddendumAstatingtheyagreetobeboundbyandwillconducttheirinvestigationinaccordancewiththisAgreementandagreetocomplywithallapplicableon-siteaccess,remoteaccessandrelatedsecurityrulesandproceduresofArcticCat.RecipientwillberesponsibleforanybreachofthisAgreementbyallthosewhogainaccesstoConfidentialInformationviaRecipientoritsRepresentatives.

6. Exceptasrequiredbyapplicablefederal,stateorlocallaworregulation,orasotherwiseconsentedtoinwritingbyArcticCat,theRecipientshallnot,andshallnotpermititsRepresentativestodisclosetoanypersonthat:(i)theConfidentialInformationhasbeenmadeavailabletoRecipientoritsRepresentatives;(ii)thatdiscussionsornegotiationsmaybe,orare,underwaybetweentheRecipientandArcticCatregardingtheConfidentialInformationoraTransaction,includingthestatusthereof;or(iii)anyterms,conditionsorotherarrangementsthatarebeingdiscussedornegotiatedinrelationtotheConfidentialInformationoraTransaction.

7. RecipientacknowledgesthatnoneofArcticCatoritsRepresentativesmakesanyexpressorimpliedrepresentationorwarrantyastothecompletenessandaccuracyofanyConfidentialInformation,andRecipientagreesthatnosuchpersonsshallhaveanyliabilitytoRecipientoranyofRecipient'sRepresentativesrelatingtoorarisingfromRecipient'sorsuchRepresentatives'useofanyConfidentialInformationorforanyerrorsthereinoromissionstherefrom.RecipientalsoagreesthatRecipientisnotentitledtorelyonthecompletenessoraccuracyofanyConfidentialInformationandthatRecipientshallbeentitledtorelysolelyonsuchrepresentationsandwarrantiesasmaybemadebyArcticCattoRecipientinanydefinitiveagreementrelatingtoaTransaction,subjecttothetermsandconditionsofsuchagreement.ForpurposesofthisAgreement,a"definitive agreement "doesnotincludeanexecutedletterofintentoranyotherpreliminarywrittenagreement,nordoesitincludeanywrittenororalacceptanceofanofferorbid.

8. ArcticCatherebyretainsitsentireright,titleandinterest,includingallintellectualpropertyrights,inandtoallConfidentialInformation.AnydisclosureofsuchConfidentialInformationhereundershallnotbeconstruedasanassignment,grant,option,licenseorothertransferofanysuchright,titleorinterest.

9. UponexpirationorterminationofthisAgreement,anduponwrittendemandbyArcticCatatanytime,allConfidentialInformation,includingcopies,Notes,photographs,andmemoranda,producedortakenbyRecipientinconnectionwithevaluatingaTransaction,whetherinhardcopyorelectronicformat,shallbedestroyedorreturnedtoArcticCat,unlessotherwiseauthorizedinwritingbyArcticCat;provided,however,thatonecopymayberetainedforlegalfilesforcomplianceandregulatorypurposesandelectronicarchivesandbackupsmadeintheordinarycourseofbusinessneednotbepurged,solongastheyaremaintainedinaccordancewiththeconfidentialityprovisionsofthisAgreement.Uponwrittenrequest,destructionofmaterialscontainingConfidentialInformationshallbecertifiedbyanofficerofRecipient.

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10. NofailureordelaybyArcticCatinexercisinganyright,powerorprivilegehereundershalloperateasawaiverhereof,norshallanysingleorpartialexercisethereofprecludeanyotherorfurtherexercisethereofortheexerciseofanyright,powerorprivilegehereunder.RecipientagreesthatmoneydamageswouldnotbeasufficientremedyforanybreachofthisAgreementbyRecipientoritsRepresentatives,andthatinadditiontoallotherremediesArcticCatshallbeentitledtoseekspecificperformanceandinjunctiveorotherequitablereliefasaremedyforanysuchbreach.Recipientfurtheragreestowaive,andtouseitsreasonablebesteffortstocauseitsRepresentativestowaive,anyrequirementforthesecuringorpostingofanybondinconnectionwithsuchremedy.

11. RecipientagreestopromptlynotifyArcticCatofanyunauthorizeddisclosureofConfidentialInformationorotherbreachesofthisAgreementbyRecipientoritsRepresentativesofwhichRecipientoritsRepresentativeshaveknowledgeandtofullycooperatewithArcticCatinanyeffortundertakenbyArcticCattoenforceitsrightsrelatedtosuchunauthorizeddisclosure.

12. NopartytothisAgreementshallbeunderanyobligationtoenterintoanyfurtheragreementswiththeotherpartyoritsRepresentativesasaresultofthisAgreement.ArcticCatanditsRepresentativesshallbefreeatalltimestoconducttheirbusiness,operationsandaffairsintheirsolediscretionandtoenterintoanyagreementswithanyotherparty,includingwiththerespecttoaTransaction.AnysuchactivitiesbyArcticCatoritsRepresentativesshallnotbeabreachofthisAgreement.

13. WithoutthewrittenconsentofArcticCat,RecipientanditsRepresentativesshallnot,duringthetermofthisAgreementandforaperiodofeighteenmonthsfromexpirationorterminationofthisAgreement,solicitforemploymentanypersonswhoareemployeesofArcticCatoranyofitsaffiliatesasofthedateofthisAgreementoratthetimethisAgreementexpiresoristerminated.Nothingcontainedhereinshallprecludethehiringofanysuchemployeewho:(i)RecipientwasindiscussionswithregardingpossibleemploymentpriortothesigningofthisAgreement;(ii)respondstoageneralsolicitationofemploymentthroughanadvertisementnottargetedspecificallyatArcticCatoritsemployees;or(iii)isreferredtoRecipientbysearchfirms,employmentagencies,orothersimilarentities,providedthatsuchentitieshavenotbeenspecificallyinstructedbyRecipienttosolicittheemployeesofArcticCat.

14. InconsiderationoftheConfidentialInformationbeingfurnishedtoRecipient,Recipientherebyagreesthat,duringthetermofthisAgreementandforaperiodofeighteenmonthsfollowingtheexpirationorterminationofthisAgreement(the"Standstill Period "),neitherRecipientnorRecipient'sdirectors,officers,employeesorsubsidiaries,norany"group"(withinthemeaningofSection13(d)(3)oftheSecuritiesExchangeActof1934,asamended(the"Exchange Act "))ofwhichRecipientoranyofitsdirectors,officers,employeesorsubsidiariesisaparty,willassistorencourageothers(includingbyprovidingfinancing)to,directlyorindirectly,withoutthepriorwrittenconsentorrequestoftheBoardofDirectorsofArcticCatoranauthorizedSpecialCommitteeofsuchBoard,(i)acquire,agreetoacquire,propose,seekoroffertoacquire,orfacilitatetheacquisitionorownershipof,anysecuritiesorassetsofArcticCatoranyofitssubsidiaries,anywarrantoroptiontopurchasesuchsecuritiesorassets,anysecurityconvertibleintoanysuchsecurities,oranyotherrighttoacquiresuchsecuritiesorassets(otherthanpurchasesofproductsintheordinarycourseofbusiness),(ii)enter,agreetoenter,propose,seekoroffertoenterintoorfacilitateanymerger,materialassetpurchase,businesscombination,recapitalization,restructuringorotherextraordinarytransactioninvolvingArcticCatorengageinorparticipateinanywayinanytransactionregardingcontrolofArcticCat,(iii)make,orinanywayparticipateorengagein,anysolicitationofproxiestovoteorseektoadviseorinfluenceanypersonwithrespecttothevotingof,anyvotingsecuritiesofArcticCat,inoppositiontotheslateofdirectorsnominated

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byArcticCatoranyotheritemofbusinessrecommendedbyArcticCat'sBoardofDirectorstobevotedonatanymeetingofArcticCat'sshareholders,(iv)form,joinorinanywayparticipateina"group"(withinthemeaningofSection13(d)(3)oftheExchangeAct)withrespecttoanyvotingsecuritiesofArcticCat,(v)call,requestthecallingof,orotherwiseseekorassistinthecallingofaspecialmeetingoftheshareholdersofArcticCat,(vi)nominateacompetingslateofdirectorsatanymeetingoftheCompany'sshareholders,(vii)otherwiseact,aloneorinconcertwithothers,toseektocontrolorinfluencethemanagementorpoliciesofArcticCat,(viii)discloseanyintention,planorarrangementprohibitedby,orinconsistentwith,theforegoing,or(ix)advise,assistorencourageorenterintoanydiscussions,negotiations,agreementsorarrangementswithanyotherpersonsinconnectionwiththeforegoing.

RecipientfurtheragreesthatduringtheStandstillPeriod,neitheritnoranyofitsRepresentativeswill,directlyorindirectly,withoutthepriorwrittenconsentoftheBoardofDirectorsofArcticCatoranauthorizedSpecialCommitteeofsuchBoard,(x)makeanyrequestdirectlyorindirectly,toamendorwaiveanyprovisionofthisSection14(includingthissentence),or(y)takeanyactionnotrequestedbyArcticCatthatmightrequireArcticCattomakeapublicannouncementregardingthepossibilityofabusinesscombination,mergerorothertypeoftransactiondescribedinthisparagraph.Notwithstandingtheforegoing,theprecedingrestrictionsofthissectionshallterminateintheeventthatanotherpersonor"group"(withinthemeaningofSection13(d)(3)oftheExchangeAct)(a)shallhaveenteredintoadefinitiveagreementwithArcticCattoacquireacontrollinginterestinArcticCatorallorsubstantiallyallofitsassetsor(b)haslaunchedorpubliclystateditsintentiontolaunchatenderorexchangeofferforamajorityofArcticCat'scapitalstockandArcticCatfilesaSchedule14D-9withrespecttosuchofferthatrecommendsacceptanceofsuchtenderorexchangeoffer.

15. Recipientherebyacknowledgesthatitisaware,andthatitwilladviseitsRepresentativeswhoreceiveanyConfidentialInformation,thattheUnitedStatessecuritieslawsprohibitanypersonwhohasreceivedfromanissuermaterial,nonpublicinformationfrompurchasingorsellingsecuritiesofsuchissuer(andoptions,warrantsandrightsrelatingthereto)orfromcommunicatingsuchinformationtoanyotherpersonundercircumstancesinwhichitisreasonablyforeseeablethatsuchpersonislikelytopurchaseorsellsuchsecurities.

16. Recipientagreestodefend,indemnifyandholdharmlessArcticCat,itsaffiliatesandtheirrespectiveRepresentatives,successorsandpermittedassignsfromandagainstalllosses,damages,liabilities,deficiencies,actions,judgments,interest,awards,penalties,fines,costsorexpensesofwhateverkind,includingreasonableattorneys'fees,inconnectionwithanythirdpartyclaim,suit,actionorproceedingarisingoutoforresultingfromamaterialbreachofthisAgreementbyRecipientoranyofitsRepresentatives.

17. ThisAgreementshallbegovernedbythelawsoftheStateofMinnesota.ArcticCatreservestherighttoassignallofitsrightsunderthisAgreementtoanyofitsaffiliatesortoasuccessorininteresttothebusinessofArcticCat,includingtherighttoenforcethisAgreement.Recipientherebyconsentstoanysuchassignment.RecipientshallnotassignanyofitsrightsordelegateanyofitsobligationshereunderwithoutArcticCat'spriorwrittenconsent.AnypurportedassignmentordelegationbyRecipientshallbenullandvoid.

18. ThetermofthisAgreementshallcommenceontheEffectiveDateandshallexpireoneyearfromtheEffectiveDate,providedthateitherPartymayterminatethisAgreementatanytimebyprovidingwrittennoticetotheotherParty.Inaddition,RecipientagreestopromptlyinformArcticCatifRecipientdeterminesnottoproceedwithaTransaction.Notwithstandinganythingtothecontraryherein,eachParty'srightsandobligationsunderthisAgreementshall

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survivetheexpirationorterminationofthisAgreementforaperiodofthreeyearsfromthedateofsuchexpirationortermination,evenafterthereturnordestructionofConfidentialInformationbyRecipient(the"Survival Period "),providedtheprovisionsofSections13and14ofthisAgreementshallexpireasprovidedinsuchSections,andprovidedfurtherthat,withrespecttothetradesecretsofArcticCat,theSurvivalPeriodshalllastforaslongassuchConfidentialInformationqualifiesasatradesecretunderapplicablefederal,stateorlocallaw,andwithrespecttoPersonalInformationdisclosedbyArcticCat,theSurvivalPeriodshalllastfortheperiodoftimerequiredunderapplicablefederalstateand/orlocallaw.

19. Allnotices,requests,consents,claims,demands,waiversandothercommunicationshereundershallbeinwritingandshallbedeemedtohavebeengiven:(i)whendeliveredandreceivedbyhand;(ii)whenreceivedbytheaddresseeifsentbyanationallyrecognizedovernightcourier(receiptrequested);(iii)onthedatesentbyfacsimileorelectronictransmissionifsentduringnormalbusinesshoursoftherecipientofthecommunication;or(d)onthethirdcalendardayafterthedatemailed,bycertifiedorregisteredmail,returnreceiptrequested,postageprepaid.Suchcommunicationsmustbesenttotherespectivepartiesattheaddressessetforthonthesignaturepagehereto(orsuchotheraddressesasdesignatedfromtimetotimeinaccordancewiththissection).

20. ThisAgreementcontainstheentireagreementbetweenArcticCatandRecipientconcerningthesubjectmatterhereof,andnoprovisionofthisAgreementmaybewaived,amendedormodified,inwholeorinpart,noranyconsentgiven,unlessapprovedinwritingbyadulyauthorizedRepresentativeofeachofArcticCatandRecipient,whichwritingspecificallyreferstothisAgreementandtheprovisionsoamendedormodifiedorforwhichsuchwaiverorconsentisgiven.IntheeventthatanyprovisionofthisAgreementisdeemedinvalid,illegalorunenforceable,thevalidity,legalityandenforceabilityoftheremainingprovisionsofthisAgreementwillnotinanywaybeaffectedorimpairedthereby.

21. IfanytermorprovisionofthisAgreementisinvalid,illegalorunenforceableinanyjurisdiction,suchinvalidity,illegalityorunenforceabilityshallnotaffectanyothertermorprovisionofthisAgreementorinvalidateorrenderunenforceablesuchtermorprovisioninanyotherjurisdiction.

22. ThisAgreementmaybeexecutedinoneormorecounterparts(includingbymeansoffacsimileorelectronicallytransmittedportabledocumentformat(PDF)signaturepages),eachofwhichshallbedeemedtobeanoriginal,butallofwhichtogethershallconstituteandbeoneandthesameinstrument.

UponexecutionhereofbybothArcticCatandRecipient,thisAgreementshallbecomeabindingagreementbetweenArcticCatandRecipient.

[ SignaturePageFollows]

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INWITNESSWHEREOF,thepartieshaveexecutedthisAgreementtobeeffectiveasoftheEffectiveDate.

[Signature Page to Confidentiality Agreement]

ARCTICCATINC. TEXTRONINC.

By: /s/CHRISTOPHERT.METZ By: /s/SCOTTHEGSTROM

Name:ChristopherT.Metz Name:ScottHegstrom

Title:President and Chief Executive Officer Title:Vice President, Mergers & Acquisitions

Address:500North3dStreet,Minneapolis,MN55401

Address:40WestminsterStreet,Providence,RI02903

Telephone:612-305-1802 Telephone:401-457-2386

Fax: Fax: 401-457-3611

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EXHIBIT(d)(2)

CONFIDENTIALITYAGREEMENT