#1Cr CS cr OCS CI OC crocs™ Q1 2022 Investor Presentation May 2022 TM AC 12 d ni Ju 40 JE JC 76#2cr CS cr OCS CI OC FORWARD-LOOKING STATEMENT This document includes estimates, projections, and statements relating to our plans, commitments, objectives, and expectations that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements regarding the potential impacts to our business related to our supply chain challenges, the COVID-19 pandemic, our financial condition, brand and liquidity outlook, and expectations regarding our future revenue, margins, non-GAAP adjustments, tax rate, earnings per share and capital expenditures, the acquisition of HEYDUDE and benefits thereof, Crocs' strategy, plans, objectives, expectations (financial or otherwise) and intentions, future financial results and growth potential, statements regarding full year and second quarter 2022 financial outlook and future profitability, cash flows, and brand strength, anticipated product portfolio and our ability to deliver sustained, highly profitable growth. 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: our expectations regarding supply chain disruptions, the COVID-19 pandemic and related government, private sector, and individual consumer responsive actions; current global financial conditions, including economic impacts resulting from the COVID-19 pandemic; 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. All information in this document speaks as of May 5, 2022. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise, except as required by applicable law. 2 AC 5 E 12 d 40 24 JC 76#3cr CS cr CS CH OC C MOM 96 CONTENTS O O O BUSINESS & FINANCIAL HIGHLIGHTS BRAND PERFORMANCE FINANCIAL OUTLOOK APPENDIX AC 3 5 E 12 d 40 24 JC 76#4cr CS cr OCS C OC C OUR VISION Everyone Comfortable In Their Own Shoes KAROL G x CROCS HC 4 12 C d I TU 40 24 JC 76#5cr CS cr OCS CI OC OUR VALUES The Path We Choose to Walk DELIGHTFULLY DEMOCRATIC We celebrate one-of-a-kinds and stand together with all different kinds. 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. LO 5 AC 5 E 12 d 40 JE 24 JC 76#6Cr CS CI C OC C OCE ere BUSINESS & FINANCIAL HIGHLIGHTS C 6 JE 12 TU. 40 JE OL JC 76#7Cr CS cr OCS CI OC BUSINESS & FINANCIAL HIGHLIGHTS "Our first quarter revenue growth of 47% on a constant currency basis is a testament to the underlying strength of the Crocs and HEYDUDE brands. Consumer demand remains strong giving us the confidence to raise our full year outlook for revenues to approximately $3.5 billion, adjusted operating margin to 26% to 27%, and adjusted diluted earnings per share to $10.05 to $10.65." -Andrew Rees, CEO 7 AC 5 E 12 d 40 24 JC 76#8cr CS cr OCS CI OC BUSINESS & FINANCIAL HIGHLIGHTS BROAD-BASED REVENUE GROWTH IN Q1 2022 $660M Revenues +44% / 47% CC +17% Crocs DTC Comp Growth $545M Crocs Revenues +19% / 22% CC +23% Digital Sales Growth (Organic CC) $115M HEYDUDE Revenues 32% Digital Penetration 8 AC 5 E 12 d TU 40 JE 24 JC 76#9Cr CS cr C CI DC! BUSINESS & FINANCIAL HIGHLIGHTS 01 REVENUE BREAKDOWN Brand(1) HEYDUDE 27% 1. 2. 3. Crocs 73% North America 58% 200 EMEALA 24% Geography(2) Asia Pacific 18% Digital Penetration(3) Digital 32% Revenues by brand are presented on a pro forma basis for HEYDUDE as if the acquisition had closed on January 1, 2022. Geography is for Crocs Brand only. Digital sales include Crocs.com, heydudeshoesusa.com, third-party market places (e.g. Tmall), and e-tailers (e.g. Amazon, Zappos, Zalando). WHL 65% Channel DTC 35% AC Ο E 12 Η JE 24 JC ΠΕ#10Cr CS cr OCS CI OC C BUSINESS & FINANCIAL HIGHLIGHTS Q1 2022 FINANCIAL HIGHLIGHTS 123 Revenues ($M) 2. Gross Margin Adjusted Gross Margin(³) Adjusted SG&A as % of Revenue(3) Diluted EPS Adjusted Diluted EPS(3) 1. Inclusive of HEYDUDE acquisition for the period following the closing of the acquisition on February 17, 2022 through March 31, 2022. Revenue growth on a constant currency basis, which is a Non-GAAP Financial Measure. See further details in Appendix. 3. See reconciliation to GAAP equivalents in Appendix. Operating Margin Adjusted Operating Margin(3) Q1 $660 49.2% 53.9% 27.3% 18.0% 26.6% B/(W) vs. PY(1) +47% (2) (580) bp (130) bp 60 bp (910) bp (70) bp $1.19 (19)% $2.05 +38% 10 AC 5 - E 12 d 40 JE 24 JC 76#11Cr CS CI C OC C BRAND PERFORMANCE OCE ere C JE 12 11 TU. 40 JE OL JC 76#12cr CS cr OCS CI OC Cl BRAND PERFORMANCE CROCS BRAND Q1 HIGHLIGHTS • Crocs brand revenues +22% CC vs. PY ● ● ● Digital revenue growth +23% CC vs. PY • DTC growth of +20% CC vs. PY O O • North America DTC growth of +19% vs. PY O Ranked #6 in Piper Sandler's Spring 2022 Taking Stock with Teens survey, up two spots from last year Launched innovative digital marketing campaigns with Karol G & Spotify 1. 2. Introduced Cozzzy lined two-strap sandal and Literide 360 Released ESG report reinforcing our commitment to become a Net Zero company by 2030 Q1'2022 $545M 54.9% 23.4% 31.6% Revenues (1) Adj. Gross Margin(2) Adj. SG&A as % of Revenue(2) Adj. Operating Margin(2) B/(W) vs. PY +21.7% (30) bp (200) bp (230) bp Revenue growth on a constant currency basis, which is a Non-GAAP Financial Measure. See further details in Appendix. See reconciliation to GAAP equivalents in Appendix. GO CS CS C s crocs crocs cr crocs crocs crocs crocs C crocs crocs croc rocs crocs crocs c ocs crocs crocs¹2roc Grocs crocs#13Cr CS cr OCS CI OC BRAND PERFORMANCE CROCS BRAND Q1 REVENUE BREAKDOWN EMEALA 24% Asia 18% Geography Americas 58% Digital Penetration* DTC 37% Digital 33% O Ο Ο O WHL 63% * Digital sales include Crocs.com, third-party market places (e.g. Tmall), and e-tailers (e.g. Amazon, Zappos, Zalando) Channel CS CS C s crocs crocs cr crocs crocs crocs crocs C crocs crocs croc rocs crocs crocs c roc ocs crocs crocs Grocs crocs#14Cr CS cr OCS CI OC Cl BRAND PERFORMANCE CROCS BRAND Q1 REVENUE GROWTH Geography Channel +20% Americas +23% Digital Sales CC Growth +16% / 22% CC Asia +17% DTC Comparable Growth +18% / 27% CC EMEALA +23% Wholesale CC Growth CS CS Cr crocs ocs cr crocs crocs crocs C crocs crocs croc rocs crocs crocs c ocs crocs crocs troc Grocs crocs#15Cr CS cr OCS CI OC Cl BRAND PERFORMANCE BUILDING CROCS BRAND TO $5B+ BY 2026E PLANNED GROWTH INITIATIVES ● ● ● ● Invest in digital to be 50%+ of long-term Crocs brand revenues or $2.5B+ Grow Sandals revenues by 4x to $1.2B+ Double Jibbitz revenues Increase Asia region to become ~25% of long-term Crocs brand revenues Grow China from <5% of Crocs brand revenues to ~10% Continue to deliver innovative product & marketing CS CS C s crocs crocs cr crocs crocs crocs crocs C crocs crocs croc rocs crocs crocs c ocs crocs crocs roc Grocs crocs#16JE JC 70 L t 2 2 d F J 40 12 BRAND PERFORMANCE HEYDUDE BRAND Q1 HIGHLIGHTS Closed acquisition on February 17, 2022 Q1 Revenues of $115M exceeded internal expectations ● ● ● ● • On a pro forma basis, Q1 revenues were $205M, O +81% vs PY HEYDUDE ranked #9 in Piper Sandler's Spring 2022; in top 10 for the second consecutive survey O Strength in the Midwest and Southern US Focus on building out the brand; increasing awareness and driving consideration Integration of the brand is on track Revenue Adj. Gross Margin(1) SG&A as % of Revenue (²) Adj. Operating Margin(1) Q1'2022 $115M 49.9% 12.0% 37.9% 1. See reconciliation to GAAP equivalents in Appendix 2. Non-GAAP SG&A adjustments were not made within the HEYDUDE brand AC E 12 40 24 JUC de he de heydu he4duda t 16 печа#17JE JC 70 JL t 2 2 d F Ju 40 12 BRAND PERFORMANCE BUILDING HEYDUDE REVENUES TO $1B+ BY 2024 PLANNED GROWTH INITIATIVES ● ● ● ● Invest in industry-leading marketing to build brand awareness Enhance digital capabilities to further accelerate digital Leverage Crocs strong wholesale relationships to enhance distribution Leverage Crocs distribution for global growth Invest to scale supply chain and gain efficiencies Test selective retail footprint for enhanced brand awareness 4C E 2 40 24 JUC de he Je heydu heyduda t heyd 17#18Cr CS CI C OC C FINANCIAL OUTLOOK OCE ere C JE 12 18 TU. 40 JE OL JC 76#19Cr CS cr OCS CI OC FINANCIAL OUTLOOK 2022E GUIDANCE (numbers on reported basis, unless otherwise noted) Total Revenues crocs™ HEYDUDEⓇ Adjusted Operating Margin(3) Adjusted One Time Costs (³) Adjusted Tax Rate(³) Adjusted Diluted EPS (³) Q2 2022E $918 to $957M $718 to $737M (1) +17% to 20% CC' 1. 2. 3. 4. 5. 6. $200 to $220M -26% (4) ~$65M (6) FY 2022E -$3.5B 20%+ $750 to $800M(2) -26% to 27% (5) ~$135(7) ~22% $10.05 to $10.65 Capital Expenditures Crocs Brand expected revenue growth of approximately 17% to 20% on a constant currency basis implies 12% to 15% growth on a reported basis and expected revenues of approximately $718 to $737M on a reported basis. Including the period time prior to the closing of the acquisition, HEYDUDE 2022E revenues expected to be approximately $840 to $890M. $170 to $200M See reconciliation to GAAP equivalents in Appendix. Includes an expected approximately $50M impact from air freight embedded in gross margin. Includes an expected incremental $75M of air freight embedded in gross margin for full year 2022. Non-GAAP adjustments include an expected: $20M in SG&A costs, primarily associated with the HEYDUDE acquisition, and an additional $45M of non-cash costs in cost of sales, primarily related to the write up of HEYDUDE inventory costs to fair market value at the close of the acquisition. 7. Non-GAAP adjustments include an expected: $60M in SG&A costs, primarily associated with the HEYDUDE acquisition, and an additional $75M of non-cash costs in cost of sales, primarily related to the write up of HEYDUDE inventory costs to fair market value at the close of acquisition. 19 AC 5 E 12 d 40 24 JC 76#20Cr CS cr OCS CI OC FINANCIAL OUTLOOK LONG TERM GUIDANCE* Revenues Revenue Growth Adjusted Operating Margin Adjusted Tax Rate Capital Expenditures crocs™ $5B+ 17%+ 26%+ -25% ~3% of revenues HEYDUDEⓇ $1B+ 20%+ 26%+ Crocs, Inc. $6B+ 26%+ * Crocs long-term guidance provided here is on a pre-acquisition standalone basis. Long term for Crocs and Crocs, Inc. defined as 2026E and for HEYDUDE defined as 2024E. Please refer to Appendix for definitions and Non-GAAP reconciliations. 20 AC 5 E 12 d 40 24 JC 76#21Cr CS cr OCS CI OC FINANCIAL OUTLOOK CAPITAL ALLOCATION PRIORITIES Business Investment Invest to support long-term, profitable growth Deleverage to <2.0x Gross Leverage Committed to working towards deleveraging quickly Shareholder Returns Share repurchases on hold until gross leverage is <2.0x, which we do not expect to occur in 2022 AC 21 5 E 12 d TU 40 24 JC 76#22Cr CS cr OCS CI OC O FINANCIAL OUTLOOK LEVERAGE OUTLOOK Finished 2021 with net leverage <1x Committed to quickly deleveraging and now targeting to be below 2.0x gross leverage by mid-year 2023 Share repurchases on hold until gross leverage is <2.0x, which we do not expect to occur in 2022 Net Debt / Adjusted EBITDA Outlook 0.8x YE 2021 2.9x PF YE 2021 for HEYDUDE * Assumes excess free cash flow used to repay borrowings. Net Debt / EBITDA calculated as: (Total Debt - Cash and Cash Equivalents) / TTM EBITDA ≤ 2.0x PF Mid-Year 2023E* 22 AC 5 JE 12 TU. 40 JE 25 JC 76#23Cr CS CI C OC C APPENDIX OCE ere C JE 12 23 TU. 40 JE OL JC 76#24cr CS cr CS Cl OC C APPENDIX NON-GAAP RECONCILIATION Non-GAAP Cost of Sales, Gross Profit, and Gross Margin Reconciliation: GAAP revenues GAAP cost of sales Distribution centers (1) HEYDUDE inventory fair value adjustment (2) Inventory reserve in Russia (3) Total adjustments Non-GAAP cost of sales GAAP gross profit GAAP gross margin Non-GAAP gross profit Non-GAAP gross margin GA $ SA Three Months Ended March 31, 2022 2021 (in thousands) 660,148 335,224 (1,191) (27,927) (1,800) (30,918) 304,306 324,924 49.2 % 355,842 $ 53.9 % 460,098 206,879 (985) (985) 205,894 253,219 55.0 % 254,204 55.2 % (1) Represents expenses, including expansion costs and duplicate rent costs, related to our distribution centers in Dayton, Ohio and Dordrecht, the Netherlands. (2) Represents a write-up of HEYDUDE inventory costs to fair value upon the close of the acquisition on February 17, 2022. (3) Represents an inventory reserve expense in our EMEALA segment associated with our pause of certain operations in Russia. AC 24 5 E 12 d 40 24 JC 76#25Cr CS cr OCS CI OC APPENDIX NON-GAAP RECONCILIATION (CONT'D) Non-GAAP Selling, General and Administrative Expenses Reconciliation: Three Months Ended March 31, 2022 2021 GAAP revenues GAAP selling, general and administrative expenses HEYDUDE acquisition-related costs (1) Bad debt impact in Russia (2) Total adjustments Non-GAAP selling, general and administrative expenses (3) GAAP selling, general and administrative expenses as a percent of revenues Non-GAAP selling, general and administrative expenses as a percent of revenues (in thousands) 660,148 $ 206,247 $ (20,601) (5,267) (25,868) 180,379 (1) Represents costs related to the Acquisition, including legal, professional, and transaction fees. (2) Represents bad debt expense associated with the impact of the war between Russia and Ukraine on wholesale partners in Russia. (3) Non-GAAP selling, general and administrative expenses are presented gross of tax. 31.2 % 27.3 % $ 460,098 128,533 128,533 27.9 % 27.9 % 25 AC 5 E 12 d 40 24 JC 76#26Cr CS cr OCS CI OC APPENDIX NON-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 GAAP operating margin Non-GAAP operating margin SA $ Three Months Ended March 31, 2021 2022 (in thousands) 660,148 $ 118,677 30,918 25,868 175,463 18.0 % 26.6 % 460,098 124,686 985 125,671 27.1 % 27.3 % (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 and selling, general and administrative expenses as a percent of revenues reconciliation' above for more details. 26 AC 5 E 12 d 40 24 JC 76#27cr CS cr OCS CI OC APPENDIX NON-GAAP RECONCILIATION (CONT'D) Non-GAAP Income Tax Expense (Benefit) and Effective Tax Rate Reconciliation: GAAP income from operations GAAP income before income taxes Non-GAAP income from operations (1) GAAP non-operating income (expenses): Foreign currency gains (losses), net Interest income Interest expense Other income (expense), net Non-GAAP income before income taxes GAAP income tax expense Tax effect of non-GAAP operating adjustments Impact of intra-entity IP transfers (2) Non-GAAP income tax expense GAAP effective income tax rate Non-GAAP effective income tax rate GA $ $ $ Three Months Ended March 31, 2022 2021 (in thousands) 118,677 $ 99,060 175,463 480 102 (19,252) (947) 155,846 26,300 7,622 (3,107) 30,815 26.5 % 19.8 % $ $ 124,686 122,588 125,671 (504) 27 (1,632) 11 123,573 24,190 249 (352) 24,087 19.7 % 19.5 % (1) See 'Non-GAAP income from operations and operating margin reconciliation' above for more details. (2) In the fourth quarter of 2020, and subsequently in the fourth quarter of 2021, we made changes to our international legal structure, including an intra-entity transfer of certain intellectual property rights, primarily to align with current and future international operations. The transfers resulted in a step-up in the tax basis of intellectual property rights and correlated increases in foreign deferred tax assets based on the fair value of the transferred intellectual property rights. This adjustment represents the current period impact of these transfers. AC 27 5 E 12 d 40 24 JC 76#28cr CS cr CI OC APPENDIX NON-GAAP RECONCILIATION (CONT'D) 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) Tax effect of non-GAAP adjustments 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 LA LA $ $ Three Months Ended March 31, 2022 2021 (in thousands, except per share data) 72,760 30,918 25,868 (4,515) 125,031 $ 59,823 1,073 60,896 1.22 1.19 2.09 2.05 $ $ 98,398 985 103 99,486 65,458 1,390 66,848 1.50 1.47 1.52 1.49 (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 and selling, general and administrative expenses as a percent of revenues reconciliation' above for more information. AC 28 5 E 12 d 40 24 JC 76#29cr CS cr OCS CI OC APPENDIX NON-GAAP RECONCILIATION (CONT'D) Reconciliation of GAAP to Non-GAAP Financial Guidance: Second Quarter 2022: Non-GAAP operating margin reconciliation: GAAP operating margin Non-GAAP adjustments, primarily associated with the HEYDUDE acquisition (1) Non-GAAP operating margin Full Year 2022: Non-GAAP operating margin reconciliation: GAAP operating margin Non-GAAP adjustments, primarily associated with the HEYDUDE acquisition (1) Non-GAAP operating margin Non-GAAP effective tax rate reconciliation: GAAP effective tax rate Non-GAAP adjustments associated with amortization of intellectual property(2) Non-GAAP effective tax rate Non-GAAP diluted earnings per share reconciliation: GAAP diluted earnings per share Non-GAAP adjustments, primarily associated with the HEYDUDE acquisition and amortization of intellectual property Non-GAAP diluted earnings per share Approximately: 19% 7% 26% Approximately: 22% to 23% 4% 26% to 27% 25% (3)% 22% $7.95 to $8.55 $2.10 $10.05 to $10.65 (1) In the second quarter of 2022, we expect to incur $20 million in SG&A costs, primarily associated with the HEYDUDE acquisition, and an additional $45 million of non-cash costs in cost of sales, primarily related to the amortization of the write up of HEYDUDE inventory costs to fair market value at the close of the Acquisition. For the full year 2022, we expect to incur $60 million in SG&A costs, primarily associated with the HEYDUDE acquisition, and a total $75 million of non-cash costs in cost of sales, primarily related to the write up of HEYDUDE inventory costs to fair market value at the close of acquisition. (2) In the fourth quarter of 2020, and subsequently in the fourth quarter of 2021, we made changes to our international legal structure, including an intra-entity transfer of certain intellectual property rights, primarily to align with current and future international operations. This adjustment represents the amortization of the deferred tax asset related to these intellectual property rights in this period and the tax impact of cost of sales and SG&A non-GAAP adjustments. Our long-term guidance for "Non-GAAP Operating Margin" is a non-GAAP financial measure that excludes or otherwise has been adjusted for special items from our U.S. GAAP financial statements, such as inventory write-offs, duplicate rent costs, bad debt expense, and the HEYDUDE acquisition. We consider these items to be necessary adjustments for purposes of evaluating our ongoing business performance and are often considered non-recurring. Such adjustments are subjective and involve significant management judgment. We are unable to reconcile Crocs 2026E and HEYDUDE 2024E non-GAAP operating margin guidance measures to their nearest U.S. GAAP measures without unreasonable efforts because we are unable to predict with a reasonable degree of certainty the actual impact of the special and other non-core items. By their very nature, special and other non-core items are difficult to anticipate with precision because they are generally associated with unexpected and unplanned events that impact our company and its financial results. Therefore, we are unable to provide a reconciliation of these measures. 29 AC 5 E 12 d 40 JE 24 JC 76#30cr CS cr CS Cl OC C APPENDIX NON-GAAP RECONCILIATION (CONT'D) Non-GAAP Cost of Sales, Gross Profit, and Gross Margin Reconciliation by Brand: Crocs Brand GAAP revenues GAAP cost of sales Distribution centers (1) Inventory reserve in Russia (3) Total adjustments Non-GAAP cost of sales GAAP gross profit GAAP gross margin as a percent of revenues Non-GAAP gross profit Non-GAAP gross margin as a percent of revenues GA GA Three Months Ended March 31, 2022 2021 (in thousands) 545,225 $ 248,617 (1,191) (1,800) (2,991) 245,626 296,608 54.4% 299,599 54.9 % 460,098 206,879 (985) (985) 205,894 253,219 55.0 % 254,204 55.2 % HEYDUDE Brand GAAP revenues GAAP cost of sales HEYDUDE inventory fair value adjustment (2) Total adjustments Non-GAAP cost of sales GAAP gross profit GAAP gross margin as a percent of revenues Non-GAAP gross profit Non-GAAP gross margin as a percent of revenues (1) Represents expenses, including expansion costs and duplicate rent costs, related to our distribution centers in Dayton, Ohio and Dordrecht, the Netherlands. (2) Represents a write-up of HEYDUDE inventory costs to fair value upon the close of the acquisition on February 17, 2022. (3) Represents an inventory reserve expense in our EMEALA segment associated with our pause of certain operations in Russia. Three Months Ended March 31, 2022 2021 (in thousands) $ 114,923 85,458 (27,927) (27,927) 57,531 29,465 25.6 % 57,392 49.9 % $ $ $ ||||||| - % - % 30 AC 5 JE 12 TD. 40 JE 24 JC 76#31Cr CS cr OCS CI OC APPENDIX NON-GAAP RECONCILIATION (CONT'D) Non-GAAP Selling, General and Administrative Expenses Reconciliation by Brand: Crocs Brand GAAP revenues GAAP selling, general and administrative expenses Bad debt impact in Russia (1) Total adjustments Non-GAAP selling, general and administrative expenses 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 March 31, 2022 2021 (in thousands) 545,225 132,673 $ (5,267) (5,267) 127,406 24.3% 23.4 % (1) Represents bad debt expense associated with the impact of the war between Russia and Ukraine on wholesale partners in Russia. 460,098 98,573 98,573 21.4 % 21.4% 31 AC 5 E 12 d 40 24 JC 76#32cr CS cr CI OC APPENDIX NON-GAAP RECONCILIATION (CONT'D) Non-GAAP Income from Operations and Operating Margin Reconciliation by Brand: Crocs Brand 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 GAAP operating margin Non-GAAP operating margin HEYDUDE Brand GAAP income from operations Non-GAAP cost of sales adjustments (1) Non-GAAP income from operations GAAP operating margin Non-GAAP operating margin LA Three Months Ended March 31, 2021 2022 (in thousands) 163,935 $ 2,991 5,267 172,193 30.1% 31.6 % (in thousands) 15,658 $ 27,927 43,585 $ 13.6 % 37.9 % Three Months Ended March 31, 2022 2021 $ 154,819 985 155,804 33.6 % 33.9 % - % - % 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 and selling, general and administrative expenses as a percent of revenues reconciliation' above for more information. 32 AC 5 E 12 d 40 24 JC 76#33SK 8 BATER crocs was WAAR A HARAK ZAP! CAM CON ANNE INS PRO 2 ****** ******* ****************** 9000 90 ****** ************* ******52938944929 46480469895830469464 ********