#1crocs™ INVESTOR PRESENTATION July 2020#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™ 60%#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 Amidst unprecedented market conditions globally, we delivered exceptional performance in our Americas and e- commerce businesses and increased profit despite a very challenging environment. Our performance demonstrates the strength of the Crocs brand and underscores the work we've done expanding the desirability, relevance and consideration of our brand and product offering globally. - Andrew Rees, President and CEO 6#7GLOBAL BUSINESS UPDATE Q2 Highlights ● ● crocs™ Revenue declined 6.0%* vs. PY Americas grew 1.2% * Four of five key markets grew - US, Korea, China, Germany Strong e-commerce revenue +67.7% Americas triple-digit growth Asia, EMEA double-digit growth Improved adjusted operating margin by 800bps to 22.3% Increased adjusted EPS by 71% to $1.01 Nearly doubled cash flow vs. PY Donated 860K+ pairs of shoes to healthcare workers in need Revenue growth reported on a constant currency basis. See reconciliation to GAAP equivalents in Appendix 7#8GLOBAL BUSINESS UPDATE Completed Defensive Measures of Our COVID-19 Playbook ค crocs™ DEFENSE Lower expenses Reduce working capital Defer capital expenditures Maximize liquidity COMPLETED X X OFFENSE Four key product pillars Powerful social & digital marketing Digital-led route to market Largest growth opportunity in Asia ONGOING 8#9GLOBAL BUSINESS UPDATE Fueled Brand Recognition in Asia Q2 Revenue in both Korea and China grew vs. PY, aided by: All-Star event with Yang Mi and Tmall in China Live stream event with Kim Se-Jeong in Korea First energy store launched in HKRI Taikoo Hui - E COME AS YOU ARE ALINT JAM OU ARE E COME AS YOU ARE **** VS 李佳琦 种草大魔王 crocs™ 带货女神 杨幂 crocs™ LIVE 6월8일 저녁 8시 TM OLAFOLE COME AS HKRITAIKOO HUI 魔都上海 9#10GLOBAL BUSINESS UPDATE Continued Strength in E-Commerce We saw accelerated consumer adoption of digital commerce throughout the COVID-19 pandemic Strong growth of 67.7% in own e-commerce channel, benefitting from: - Strong brand heat Fewer discounts/promotions Strong double-digit growth across multiple e-tail platforms and marketplaces Digital represented 56.1% of total Q2 revenue This compares to 32.6% of Q2 revenue in the more normalized environment of 2019 crocs™ E-commerce Q2 Revenue Growth 102.2% Americas 31.7% Asia 52.4% EMEA 67.7% Global 10#11A Global Reckoning on Race Newsweek IN GOOD COMPANY Afläc Hilton Southeastern MOSCOT Grocers Tito's DELL VITA COCO crocs KRAFT COTY Pfizer POCKEYALK BILL MELINDA GATES foundation (intel) Uber Suber SPANX PYER MOSS 07.10-17.2020 VOYCE UGG SAMUEL OF DevaCurl ADAMS HOBSONS) Serta Coca-Cola KOVAL tapestry U.S. BUSINESSES THAT STEPPED UP DURING THE PANDEMIC HARBOR FREIGHT TOOLS FOR SCHOOLS NETFLIX SR A.VO ESTEE LAUDER allbirds chewy (10) GLOBAL BUSINESS UPDATE Concluded 'Free Pair for Healthcare' 45 860K+ $40M $10M days pairs donated globally retail value of donations non-recurring expense in 2020 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: Greatest 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 +10% in Q2 2020 or 68% of footwear sales vs. 56% in Q2 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. Source: British GQ, May 2020. DOWNLOAD THE MAY ISSUE FOR FREE @luke_jefferson_day @britishgq SWIPE UP See More > 13#14POSITIONED FOR GLOBAL GROWTH Significant Long-Term Growth Potential in Sandals crocs™ ● ● $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 22% of footwear sales in Q2 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 ● ● 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™ SHANGHAI 2008 魔都上海 MAKE THEM YOURS 15#16POSITIONED FOR GLOBAL GROWTH Invest in Visible Comfort Technology OPOCO • 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#17POSITIONED 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. Crocs Shoes crocs Calling all 2020 grads! O 95 cruc crocsindia. Follow 1 45 cruce crocsindia Message from Priyanka Chopra To all the people working on the frontline and to those supporting them in fighting #Covid 19. We cannot imagine what it feels to be in their shoes and we are proud to do our bit by donating 10,000 shoes to healthcare professionals in public/government hospitals across 3 India. @Crocs · May 27 Let us see how Crocs was part of your celebration and we just might send you a graduation gift! Special shout out to recent grad, @haleybrusen! @priyankachopra #WeAreAllinThisTogether #crocs #healthcareheroes #healthcareworkers #crocsatwork #donations #comfy #shoes #easytoclean #clogs 6w 12,857 views MAY 2 324 B POPSUGAR. FASHION Popsugar Fashion Ruby Rose See Crocs and Ruby Rose's Rainbow Shoes For Pride 2020 Ruby Rose Reimagined a Pair of Crocs For Pride, and They're Magical As POPSUGAR editors, we independently select and write about stuff we love and think you'll like too. POPSUGAR has affiliate and advertising partnerships so we get revenue from sharing this content and from your purchase. June 10, 2020 by NIKITA CHARUZA View On One Page Image Source Crocs STAR WARE DAY MAY THE 4TH BE WITH YOU Crocs JUST 111 Shares croc Start Slideshow > LOVE -USE ARROW KEYS- 17#18POSITIONED FOR GLOBAL GROWTH Select Q2 2020 Collaborations With innovative and collaborative. partnerships across the street fashion, high fashion, music and lifestyle categories, each of our collaborations is inherently unique and distinctive in design. BRAND COLLABORATION RARE Crocs joined South Korean brand Rare Market to create this pair of chain-embellished Classic Clogs, featuring a colorful Rare Market chain backstrap. Available in white and black. crocs™ ARTIST COLLABORATION YANG MI In partnership with Crocs global brand ambassador Yang Mi, we've combined Yang Mi's personal style into the design of 3 Classic Clogs, encouraging fans to be more confident and comfortable. BRAND COLLABORATION LIBERTY LONDON Crocs partnered with designer department store, Liberty London, to create an elegant collection of Classic Clogs and enamel Jibbitz charms. BRAND COLLABORATION BEAMS In a second collaboration, Crocs and Japanese clothing brand BEAMS teamed up once again to create three fishing-inspired clogs complete with buckles, pockets, and waterproof materials. They're quite the catch. SOLD OUT SOLD OUT SOLD OUT OLD OUT SOLD OUT ARTIST COLLABORATION JUST LOVE DESIGNED BY RUBY ROSE SOLD OUT -OLD OUT SOLD OUT SOLD OUT SOLD OU SOLD OUT SOLD OUT SOL Few people embody a "Come as you are" attitude more than actor and model Ruby Rose. These Crocs Classic Bae Clogs feature a marbled treatment unique to every shoe with all the colors of the rainbow and distinctive Pride laces to show off your most proud self. 18#19POSITIONED FOR GLOBAL GROWTH crocs™ * Crocs.com Non-digital 43.9% E-commerce Chart reflects percentage of 2Q 2020 sales. Digital Digital-Led Route to Market Third-party marketplaces (e.g., eBay) love love Wholesale e-tailers (e.g., Amazon, Zappos, Zalando) Gleas GIRLS GIRLS Digital 56.1% 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 marketplaces ● ● ● Americas: largest region Maximize clog growth and expand sandal penetration at 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 ● ● MAKE IT A CLASSIC YANG MI GLOBAL BRAND AMBASSADOR OF CROCS CLASSIC CLOG 20#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 Adding 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 ● crocs New facility expands capacity to 375 sq. ft. to support growth Expected to be completed in 2021 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 Q2 Financial Results Revenue Gross Margin Adj. Gross Margin Adj. SG&A as % of Revenue Adj. Operating Margin Diluted EPS Adj. Diluted EPS * Q2 $331.5 54.3% 55.2% 33.0% 22.3% $0.83 $1.01 vs. PY (6.0%)* +150 bp +160 bp +640 bp +800 bp +51% +71% Revenue growth on a constant currency basis and excluding impact of store closures. See reconciliation to GAAP equivalents in Appendix 22#23crocs™ 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 * Q2 YTD $612.7 51.3% 51.9% 35.6% 16.3% $0.99 $1.22 vs. PY (4.7%)* +130 bp +130 bp +190 bp +330 bp +14% +30% Revenue growth on a constant currency basis and excluding impact of store closures. See reconciliation to GAAP equivalents in Appendix 23#24FINANCIAL RESULTS FY2020 Color Excluding the impact of any future shutdowns in major markets: Second half revenue will be approximately flat to PY Normalized tax rate of ~17%, though 2020 tax rate of 11% as we anticipate utilizing deferred tax assets Inventory constrained for H2 Capital expenditures of ~$50M Investment to support long-term growth that had initially been deferred to 2021 No liquidity concerns Positive cash flow for the remainder of 2020 ● ● ● ● ● ● crocs™ C GIVENCHY DADIC 706 #5 CHEWNEL FRANCE U DE PARFUME 24#25N S APPENDIX#26ROCK THE CROCS Justin Bieber Ariana Grande crocs™ Source: Google images. Miley Cyrus Note: None of the above images were sponsored by Crocs. Th THE B HODI IN SELES NET mu Bo again JU Pharrell Williams Whoopie Goldberg Verizon 11:04 AM Instagram kingfrankiedelgado Liked by matthew noszka and others + 71% Frankie Delgado V *** R 26#27ROCK THE CROCS kimkardashian 23h COLONEL SANDERS ORIGINAL RECIPE Send Message @kfc Kim Kardashian crocs™ D MARIN DERE Gwen Stefani Source: Google images. Note: None of the above images were sponsored by Crocs. 5 37W @sakinahmatos @teammatos5 Send Message 99 2008 Vittory Lane Yetur Gross-Matos Adam Sandler PIG 000 antareta Nicole Byers 27#28NON-GAAP RECONCILIATION Non-GAAP cost of sales, gross profit, and gross margin reconciliation: Three Months Ended June 30, 2020 2019 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 $ crocs™ $ $ $ 331,549 $ $ 151,616 $ (812) $ (2,396) (3,208) 148,408 $ 179,933 $ 54.3 % 183,141 $ (in thousands) 358,899 169,520 (3,138) (23) (3,161) 166,359 189,379 52.8% 192,540 $ 53.6% $ $ Six Months Ended June 30, 2020 2019 $ 612,709 298,614 (1,739) (2,396) (4,135) 294,479 $ 318,230 $ 51.9% 55.2% (1) Represents non-recurring 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. $ 314,095 $ 51.3% 654,848 327,854 (4,303) (133) (4,436) 323,418 326,994 49.9% 331,430 50.6% Non-GAAP selling, general and administrative expenses reconciliation: Three Months Ended June 30, 2020 2019 GAAP revenues GAAP selling, general and administrative expenses Donations of inventory COVID-19 severance costs (2) COVID-19 impact of bad debt Other COVID-19 costs Duplicate headquarters rent (³) Non-recurring expenses associated with cost reduction initiatives in Other Total adjustments Non-GAAP selling, general and administrative expenses (4) GAAP selling, general and administrative expenses as a percent of revenues Non-GAAP selling, general and administrative expenses as a percent of revenues $ $ 331,549 $ 123,338 (8,218) (2,403) (1,708) (644) (487) (550) (14,010) 109,328 37.2% $ $ (in thousands) 358,899 $ 141,548 $ ||||||| (204) (204) 141,344 39.4% Six Months Ended June 30, 2020 2019 $ 612,709 236,688 (9,920) (2,403) (4,481) (644) (694) (481) (18,623) $ 38.6% $ 218,065 $ 654,848 246,585 (889) (889) 245,696 37.7% 33.0% 39.4% 35.6% 37.5% (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) Non-GAAP selling, general and administrative expenses are presented gross of tax. 28#29NON-GAAP RECONCILIATION (cont'd) Non-GAAP income from operations and operating margin reconciliation: Three Months Ended June 30, 2020 2019 GAAP revenues $ $ GAAP income from operations Non-GAAP cost of sales adjustments (¹) Non-GAAP selling, general and administrative expenses adjustments Non-GAAP income from operations crocs™ $ 331,549 $ 56,595 3,208 14,010 73,813 $ 17.1% 22.3% $ (in thousands) 358,899 $ 47,831 3,161 204 51,196 $ 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. 13.3% 14.3% Six Months Ended June 30, 2020 2019 $ 612,709 $ 77,407 4,135 18,623 100,165 12.6% 16.3% $ $ 654,848 80,409 4,436 889 85,734 12.3% 13.1% 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 Non-GAAP net income per common share: Basic Diluted $ $ $ $ $ Three Months Ended June 30, 2020 2019 56,551 3,208 14,010 (919) (4,075) 68,775 67,416 622 68,038 0.84 0.83 1.02 1.01 (in thousands, except per share data) $ $ $ $ $ 39,198 $ 3,161 204 42,563 70,936 979 71,915 0.55 0.55 $ $ $ Six Months Ended June 30, 2020 2019 0.60 $ 0.59 $ (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. 67,642 4,135 18,623 (919) (5,460) 84,021 67,674 990 68,664 1.00 0.99 $ $ $ $ 1.24 $ 1.22 $ 63,908 4,436 889 69,233 71,967 1,402 73,369 0.89 0.87 0.96 0.94 (3) Represents a fair value adjustment associated with our donations of inventory. (4) In the three months and six months ended June 30, 2019, non-GAAP adjustments were in jurisdictions subject to a full valuation allowance, and thus had no material net tax impact. 29#30L Frei CA08