#1crocs™ INVESTOR PRESENTATION October 2020 MON CCD)#2FORWARD-LOOKING STATEMENT Some information provided in this document will be forward-looking, and accordingly, is subject to the Safe Harbor provisions of the federal securities law. These statements include, but are not limited to, statements regarding potential impacts to our business related to the COVID-19 pandemic, our financial condition, brand and liquidity outlook and expectations regarding our 2020 revenue, tax rate, inventory and capital expenditures. These statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performances, or achievements expressed or implied by the forward- looking statements. These risks and uncertainties include, but are not limited to, the following: the COVID-19 outbreak and related government, private sector, and individual consumer responsive actions; current global financial conditions, including economic impacts resulting from the COVID-19 outbreak; the effect of competition in our industry; our ability to effectively manage our future growth or declines in revenues; changing consumer preferences; our ability to maintain and expand revenues and gross margin; our ability to accurately forecast consumer demand for our products; our ability to successfully implement our strategic plans; our ability to develop and sell new products; our ability to obtain and protect intellectual property rights; the effect of potential adverse currency exchange rate fluctuations and other international operating risks; and other factors described in our most recent Annual Report on Form 10-K under the heading "Risk Factors" and our subsequent filings with the Securities and Exchange Commission. Readers are encouraged to review that section and all other disclosures appearing in our filings with the Securities and Exchange Commission. Crocs is not obligated to update these forward-looking statements to reflect the impact of future events. 2#3crocs™ CONTENT Our Vision & Values Global Business Update Positioned for Global Growth Financial Results Appendix 3#4OUR VISION Everyone comfortable in their own shoes crocs™ 50%#5OUR VALUES The Path We Choose to Walk DELIGHTFULLY DEMOCRATIC We celebrate one-of-a-kinds and stand together with all different kinds. crocs™ IMAGINATIVE INNOVATION We stretch the possibilities of design and creative thinking so you can reach your highest potential. PEOPLE PURPOSED DESIGN We think people-first at every step. We design for everything you do and everywhere you go. UNAPOLOGETIC OPTIMISM We make a choice every day to have an open mind and look on the bright and colorful side. INHERENT SIMPLICITY We know smart doesn't have to mean complicated. So we keep things simple, light and totally intuitive. CONFIDENTLY COMFORTABLE We support comfort on every level, because when you're comfortable, you can do anything. 5#6GLOBAL BUSINESS UPDATE "C We achieved record third quarter revenue and earnings despite the challenges presented by the global COVID-19 pandemic. Our extraordinary performance and strong cash flow generation demonstrates the strength of the Crocs brand and product offering globally. I am tremendously proud of how we have executed as a team and am excited for our future. - Andrew Rees, CEO 6#7GLOBAL BUSINESS UPDATE Q3 Highlights ● ● ● ● ● crocs™ Q3 record revenue of $362M, +16% vs. PY Growth in every channel Americas +26% with DTC comps +31% - EMEA +13% with double-digits increases in E-commerce and Wholesale Digital growth of 36% to represent 38% of revenue with increases in every region. Retail comparable store sales +16% Adjusted operating profit +70% to $75.4 million, Margins +660 basis points to 20.8% Adjusted EPS of $0.94, up 65% Record third quarter free cash flow Source: Image from Reddit. 135 Bot 天星#8crocs™ GLOBAL BUSINESS UPDATE Best in Class Marketing Activations drew ARTIST COLLABORATION JUSTIN BIEBER crocs drew Justin Bieber and Crocs. It's been a long time coming... This Classic Clog is inspired by Bieber's clothing brand, drew house, and its signature yellow color. An BRAND COLLABORATION PLEASURES SOLD OUT CASURCH Crocs has once again partnered with Los Angeles-based PLEASURES for a new, limited-edition, Mossy Oak camo printed Classic Lined Clog. ARTIST COLLABORATION BAD BUNNY Crocs teamed up with lifelong fan and Latin trap superstar Bad Bunny to create one of the most anticipated collabs to date, complete with glow-in-the-dark Jibbitz™ charms. BRAND COLLABORATION Vera Bradley SOLD OUT + crocs Vibrant florals bring this collection of clogs, slides, and Crocs at Work" styles to life in this second collaboration with Vera Bradley. Cants BRAND COLLABORATION Carrots BY crocs Carrots BRAND COLLABORATION CHINATOWN MARKET Carrots Designer Anwar Carrots looks to move beyond the confines of a traditional fashion brand and finds a kindred spirit with his first collaboration with Crocs. SOLD OUT SOLD OUT Our latest collaboration with Chinatown Market is quite a trip. Inspired by a vintage Grateful Dead T-Shirt, Jibbitz™ charms include the famous dancing bears and rock climbing holds. 8#9GLOBAL BUSINESS UPDATE Fueling Brand Strength Globally crocs™ COLLABORATIONS / CELEBRITIES Drive mass reach MASS INFLUENCERS Drive mass engagement INTEREST-BASED INFLUENCERS Drive brand relevance UGC & EMPLOYEES Drive trust and local word of mouth Double-digit growth in brand metrics Brand desirability, brand relevance and brand consideration each rose DD for 2020 and over the past four years in our annual brand survey Top 10 Footwear Brand for U.S. Teens In Piper Sandler's Fall "Taking Stock with Teens" survey 9#10GLOBAL BUSINESS UPDATE Continued Strength in Digital ● Digital commerce growth of 35.5% with growth in all regions Strong e-commerce growth of 36.3% Double-digit growth across multiple e-tail platforms and marketplaces 27% 31% Americas 13Q 2019 Q3 Digital Penetration 13Q 2020 33% 42% Asia Pacific 3Q 2019 Global 50% 60% 38% 32% EMEA -3Q 2020 Global 10#11GLOBAL BUSINESS UPDATE Exceptional Third Quarter Results +16% $312.8 $361.7 Revenue +380bps 53.6% 57.4% Adj. Gross Margin Note USD millions for Revenue and Adjusted Operating Income. Q3 2019 +70% $44.4 Q3 2020 $75.4 Adj. Operating Income +65% $0.57 $0.94 Adj. Diluted EPS 11#12SK8 300 Four Key Product Pillars POSITIONED FOR GLOBAL GROWTH Clogs: Innovate & grow clog relevance Sandals: Significant long-term growth potential Personalization crocs™ Visible Comfort Technology Tik Tok Powerful Social & Digital Marketing Digital and social focus globally Come As You Are Brand ambassadors Social influencers Collaborations COVID-19 IS IMPACTING US ALL CLICK HERE TO LEARN HOW IT IS IMPACTING CROCS - 21.00 Pend crocs WOMEN MEN KIDS JEBITE CHARMS CROCS AT WORK SALE COME AS YOU ARE SELECT STYLES 2 FOR $45 SHARING A FREE PAIR FOR HEALTHCARE Congo to work on the turns of of C COVI Continue to Request SHOP WOMEN'S SHOP MEN'S SHOP KIDS SHOP NOW EMAIL MY ACCOUNT SHOP CROCS AT WORK NEW SEASON, NEW COLORS newspring color splashes and se-aye patterns our new options are Classics in the making SHOP CLASSIC Digital-Led Route to Market E-commerce: Double-digit plus growth continues Retail: Prioritize outlets as most profitable retail format Wholesale: Strong growth opportunities within e-tail accounts; long-term growth potential with distributors Largest Long-Term Growth Opportunity in Asia Asia: Largest long-term growth potential Americas: Strong growth momentum EMEA: Solid growth 12#13POSITIONED FOR GLOBAL GROWTH Innovate and Grow Clog Relevance ● ● $5B global category that has outpaced casual footwear growth* - Crocs is market leader with $1B or -20% share Crocs opportunity is to grow the category Crocs clog revenues +31% in Q3 2020 to 72% of footwear sales vs. 62% in Q3 2019 Key drivers of clog growth and relevance are: Impactful collaborations across the globe - Personalization with expanded Jibbitz charms • Strongest growth in the Americas with continued opportunity in Asia crocs™ * Casual footwear market is estimated to grow at 4% per annum. VOGEE THE NEDERLAND OF 06 Génerica Wielingen, klas zfd POWER YOUTH Ode aan de generatie die de wereld gaat verande OKTOBER NOW ADVIESPROS CAW Iraina Kloof, klas zee 13#14POSITIONED FOR GLOBAL GROWTH Significant Long-Term Growth Potential in Sandals ● ● $30B global category growing ~4% p.a. Fragmented market with no clear leader Crocs opportunity is to grow our share Consistent track record of growth 19% of footwear sales in Q3 2020 - Pre-COVID, three consecutive years of double-digit growth Key drivers of sandal growth are: - Targeting female explorers - Marketing to support awareness Higher purchase frequency to address multiple wearing occasions. 14#15POSITIONED FOR GLOBAL GROWTH Capitalize on Personalization Trend with JibbitzTM Charms ● ● ● Revenues doubled in Q3 2020 ● Personalization is a global megatrend Optimistic story-telling and personalization will be even more critical post COVID-19 • Drives relevance for the Crocs brand Offers newness and inspiration at a compelling price point Supports clog and sandal sales and enhances average selling price (ASP) crocs™ 台鐵 T ST crocs CRO CROCTOBER BE FRIEST HOLA lov @ MALLO BC. NDS Croctober HELLO CARBO * 00 15#16crocs POSITIONED FOR GLOBAL GROWTH Invest in Visible Comfort Technology OPOCE crocs™ Literdee • LiteRide ™M comfort franchise features lightweight, foam footbeds • Leveraged across collections, including Brooklyn sandals and Crocs at Work ™ Top 5 franchise for Crocs crocs 16 crocs#17POSITIONED FOR GLOBAL GROWTH Continue to Capture Strong Interest in Crocs at Work Following A Free Pair for Healthcare TOO ANE VON HAROES! u hav — My invisible cape was pink too ore. grateful. naayeell_aaah naayeeli_aaah vays unimaginable eland Clinic ealth melanated_rn melanated_rn HAVE TUAREMA VAAMAX Yesterday made 21 days of working in (...) DOCSAPOC & MEDIC L hoodratdiego hoodratdiego Who's ready for work? #Sponsored Since I've (...) vetsportsmedicine vetsportsmedicine Shoutout to crocs for keeping healthcare workers (...) Pu _juanitalouis juanitalouis So grateful to be part of the (...) ☐ ция trexisthename trexisthename Thank you for a free pair of (...) L L jaimie.band jaimie.band featuring the backup COVID testing machine but [...) lyssieelou_ lyssieelou_ A shoe I can rely on is (...) crocs AT WORK™ Easy to clean Lightweight Slip-resistant Waterproof 17#18POSITIONED FOR GLOBAL GROWTH Powerful Social & Digital Marketing ● ● Evolve "Come As You Are" Heighten clog relevance and sandal awareness • Expand digital reach and engagement in top 5 markets* • Drive further brand heat and relevance with collaborations • Improve social engagement through locally relevant platforms crocs™ * China, Germany, Japan, Korea and US. Source: Images from TikTok. < CHAN BLACK LIVES MATTER @crocs 9-21 You asked, we Black Lives Matter Jibbitz charms are now available. We are proud to donate to the NAACP in support of equality and progress. ♫n: One - Instrumental Vers Add comment... crocs COME AS YOU ARE 15.6K 1375 Share < @justmaiko . 10-1 @crocs are the vibe Pobied #strapback #sponsored ♫@Hovey Benjamin #Stra Add comment... @afterpayusa C + 1.6M .. 15.1K Share HOTE DAHLS TikTok 18#19POSITIONED FOR GLOBAL GROWTH crocs™ * Crocs.com Non-digital 62.3% Digital E-commerce Digital-Led Route to Market Third-party marketplaces (e.g., eBay) love Chart reflects percentage of current quarter sales. love Glets GIRLS GILS Wholesale e-tailers (e.g., Amazon, Zappos, Zalando) Digital 37.7% Distributors, multi- brand, and brick-and- mortar retailers Retail Company-operated full-price retail and outlet stores, kiosks, and store-in-store 19#20POSITIONED FOR GLOBAL GROWTH Largest Long-Term Growth Opportunity in Asia Asia: greatest opportunity long-term Increase brand recognition and drive clog relevance in China with Tier 1 celebrity, Yang Mi Multichannel growth in South Korea and Japan Strong e-commerce growth supported by participation on key marketplace platforms ● ● ● Americas: largest region Maximize clog growth and expand sandal penetration in wholesale Continue strong e-commerce growth Leverage leading position within major e-tailers ● ● EMEA: most diverse region Maintain digital commerce penetration with a focus on e-tail and marketplaces Drive wholesale growth through distributors ● ● Source: Image from Twitter#21POSITIONED FOR GLOBAL GROWTH ● US Distribution Center Relocated from Los Angeles, California to Dayton, Ohio in 4Q 2019 Currently 555K sq. ft. and ~850 associates Added adjacent 525K sq. ft. facility in 2020 New facility will be e-commerce focused crocs™ Prudent Investments to Support Our Long-Term Growth EMEA Distribution Center Relocating from Rotterdam to Dordrecht, the Netherlands ● New facility expands capacity to 375K sq. ft. to support growth Expected to be completed in 2021 crocs ● Global Headquarters Relocated from Niwot to Broomfield, CO in 2Q 2020 Nearly 90K sq. ft. and ~375 employees Location enables Crocs to attract and retain the best talent in the industry Facility embodies brand's core values featuring collaboration spaces, living walls, skylights, a full-service café and more 21#22FINANCIAL RESULTS Q3 Financial Results Revenue Gross Margin Adj. Gross Margin Adj. SG&A as % of Revenue Adj. Operating Margin Diluted EPS Adj. Diluted EPS * Q3 $361.7 57.2% 57.4% 36.6% 20.8% $0.91 $0.94 vs. PY +15.9%* +480 bp +380 bp +280 bp +660 bp +78% +65% Revenue growth on a constant currency basis. See reconciliation to GAAP equivalents in Appendix 22#23crocs™ 2 G O FINANCIAL RESULTS YTD Financial Results Revenue Gross Margin Adj. Gross Margin Adj. SG&A as % of Revenue Adj. Operating Margin Diluted EPS Adj. Diluted EPS * Q3 YTD $974.4 53.5% 54.0% 36.0% 18.0% $1.89 $2.17 vs. PY +1.9%* +280 bp +240 bp +210 bp +450 bp +37% +44% Revenue growth on a constant currency basis. See reconciliation to GAAP equivalents in Appendix 23#24FINANCIAL RESULTS FY2020 Color Excluding the impact of any future COVID-related shutdowns in major markets, we expect: ● ● ● Q4 revenue growth of 20-30%, which translates to FY2020 revenue growth of approximately 5-7% 2020 tax rate of ~11% as we anticipate utilizing deferred tax assets. Capital expenditures of ~$50M, which reflects investment to support future growth crocs™ Source: Image from Los Angeles Times. 24#25APPENDIX 25#26NON-GAAP RECONCILIATION Non-GAAP cost of sales, gross profit, and gross margin reconciliation: GAAP revenues GAAP cost of sales New distribution centers (1) COVID-19 inventory write-off (2) Other Total adjustments Non-GAAP cost of sales GAAP gross profit GAAP gross margin Non-GAAP gross profit Non-GAAP gross margin Three Months Ended September 30, 2020 2019 crocs™ $ $ $ $ $ 361,736 154,967 (897) (119) (1,016) 153,951 $ 207,785 57.4% $ 206,769 $ 57.2% $ (in thousands) 312,766 $ 148,942 (3,678) (42) (3,720) 145,222 Nine Months Ended September 30, 2020 2019 167,544 53.6% $ $ 163,824 $ 52.4 % $ 974,445 $ 453,581 (2,636) (2,396) (119) (5,151) 448,430 $ $ 520,864 $ 53.5% 526,015 $ 54.0% 967,614 476,796 (7,981) (175) (8,156) 468,640 490,818 50.79 498,974 (1) Represents expenses, including expansion costs, related to our distribution centers in Dayton, Ohio and Dordrecht, the Netherlands. (2) Represents an inventory write-off in our Asia Pacific segment associated with the impact of COVID-19. 51.69 Non-GAAP selling, general and administrative expenses reconciliation: GAAP revenues GAAP selling, general and administrative expenses Donations of inventory COVID-19 severance costs COVID-19 impact of bad debt expense Other COVID-19 costs (2) Duplicate headquarters rent (3) Non-recurring expenses associated with cost reduction initiatives in 2019 Other (4) Total adjustments Non-GAAP selling, general and administrative expenses (5) (1) GAAP selling, general and administrative expenses as a percent of revenues Non-GAAP selling, general and administrative expenses as a percent of revenues Three Months Ended September 30, Nine Months Ended September 30. 2020 2019 2020 2019 $ $ $ 361,736 $ 134,683 (50) 48 (183) (426) (1,652) (2,263) 132,420 37.2 % $ $ (in thousands) 312,766 $ 123,940 | | | | || (809) (809) 123,131 39.6% $ $ 974,445 $ 371,371 (9,970) (2,403) (4,433) (827) (1,120) (2,133) (20,886) 350,485 38.1 % $ $ 967,614 370,525 (1,698) (1,698) 368,827 38.3 38.1 36.6% 39.4% 36.0 % (1) Represents bad debt expense associated with the impact of COVID-19 on wholesale partners in our Asia Pacific and Americas segments. (2) Represents costs incurred in response to the COVID-19, including hazard pay, cleaning costs, and legal costs. (3) Represents ongoing duplicate rent costs associated with our move to our new headquarters in Broomfield, Colorado, while we conclude the lease for our former headquarters in Niwot, Colorado. (4) Represents non-recoverable duties, non-recurring costs related to the closure of company-owned retail stores in Australia, employee severance costs, and various other immaterial items. (5) Non-GAAP selling, general and administrative expenses are presented gross of tax. 26#27NON-GAAP RECONCILIATION (cont'd) Non-GAAP income from operations and operating margin reconciliation: GAAP revenues GAAP income from operations Non-GAAP cost of sales adjustments (¹) Non-GAAP selling, general and administrative expenses adjustments (2) Non-GAAP income from operations Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 crocs™ $ $ $ 361,736 $ 72,086 $ 1,016 2,263 75,365 $ 19.9 % 20.8% (in thousands) 312,766 $ 39,884 $ 3,720 809 44,413 GAAP operating margin Non-GAAP operating margin (1) See 'Non-GAAP cost of sales, gross profit, and gross margin reconciliation' above for more details. (2) See 'Non-GAAP selling, general and administrative expenses reconciliation' above for more details. $ 12.8% 14.2% 974,445 $ 149,493 5,151 20,886 175,530 15.3% 18.0% $ $ 967,614 120,293 8,156 1,698 130,147 12.49 13.59 Non-GAAP earnings per share reconciliation: Numerator: GAAP net income Non-GAAP cost of sales adjustments (¹) Non-GAAP selling, general and administrative expenses adjustments (2) Non-GAAP other income adjustment (3) Tax effect of non-GAAP adjustments (4) Non-GAAP net income Denominator: GAAP weighted average common shares outstanding - basic Plus: GAAP dilutive effect of stock options and unvested restricted stock units GAAP weighted average common shares outstanding - diluted GAAP net income per common share: Basic Diluted Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 $ $ $ 61,889 1,016 $ $ 2,263 (649) 64,519 67,473 912 68,385 (in thousands, except per share data) $ $ 0.92 $ 0.91 35,676 3,720 0.96 $ 0.94 $ 809 40,205 69,097 1,079 70,176 0.52 0.51 $ Non-GAAP net income per common share: Basic Diluted (1) See 'Non-GAAP cost of sales, gross profit, and gross margin reconciliation' above for more information. (2) See 'Non-GAAP selling, general and administrative expenses reconciliation' above for more information. 0.58 0.57 $ $ $ $ $ 129,531 5,151 20,886 (919) (6,109) 148,540 67,606 1,002 68,608 $ $ $ 1.92 1.89 $ 2.20 $ 2.17 $ 99,584 8,156 1,698 109,438 71,003 1,339 72,342 1.40 1.38 1.54 1.51 (3) Represents a fair value adjustment associated with our donations of inventory. (4) In the three months and nine months ended September 30, 2019, non-GAAP adjustments were in jurisdictions subject to a full valuation allowance, and thus had no material net tax impact. 27#28L Frei CA08