#1crocs™ INVESTOR PRESENTATION October 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 croes BRIDE crocs™ 4#5OUR VALUES The Path We Choose to Walk DELIGHTFULLY DEMOCRATIC We celebrate one-of-a-kinds and stand together with all different kinds. PEOPLE PURPOSED DESIGN We think people-first at every step. We design for everything you do and everywhere you go. INHERENT SIMPLICITY We know smart doesn't have to mean complicated. So we keep things simple, light and totally intuitive. IMAGINATIVE INNOVATION We stretch the possibilities of design and creative thinking so you can reach your highest potential. UNAPOLOGETIC OPTIMISM We make a choice every day to have an open mind and look on the bright and colorful side. CONFIDENTLY COMFORTABLE We support comfort on every level, because when you're comfortable, you can do anything. crocs™ LO 5#6GLOBAL BUSINESS UPDATE " 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 CO#7GLOBAL BUSINESS UPDATE Q3 Highlights BOZ • • 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 BE ** 最喜型 crocs™ Source: Image from Reddit.#8GLOBAL BUSINESS UPDATE Best in Class Marketing Activations SOLD OUT drew SOLD OUT Carrots Cants SOLD OUT Carrots SOLD OUT ARTIST COLLABORATION JUSTIN crocs BEBER WITH 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. 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 Carrots BY crocs 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. LEASURES crocs™ BRAND COLLABORATION PLEASURES Crocs has once again partnered with Los Angeles-based PLEASURES for a new, limited-edition, Mossy Oak camo printed Classic Lined Clog. BRAND COLLABORATION Vera Bradley + crocs Vibrant florals bring this collection of clogs, slides, and Crocs at Work styles to life in this second collaboration with Vera Bradley. BRAND COLLABORATION CHINATOWN MARKET 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 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 UGC & EMPLOYEES Drive trust and local word of mouth 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 Q3 Digital Penetration 31% 33% 27% 60% 50% 42% 38% 32% Americas Asia Pacific EMEA 3Q 2019 13Q 2020 -3Q 2019 Global -3Q 2020 Global 10#11GLOBAL BUSINESS UPDATE Exceptional Third Quarter Results +16% $361.7 $312.8 +380bps 53.6% 57.4% +70% $44.4 $75.4 +65% $0.57 $0.94 Revenue Adj. Gross Margin Adj. Operating Income Adj. Diluted EPS Q3 2019 Q3 2020 *Note USD millions for Revenue and Adjusted Operating Income. 11#12SK8 39 crocs ZAP! POSITIONED FOR GLOBAL GROWTH COVID-19 IS IMPACTING US ALL CLICK HERE TO LEARN HOW IT IS IMPACTING CROCS crocs WOMEN MEN KIDS JEBITE CHURNS CROCS AT WORK SALE COME AS YOU ARE SELECT STYLES 2 FOR $45 SHARING A FREE PAIR FOR HEALTHCARE J Tik Tok COV Continue to Request SHOP NOW SHOP WOMEN'S SHOP MEN'S SHOP KIDS SHOP CROCS AT WORK NEW SEASON, NEW COLORS w-new spring color splashes and se-dye patterns our new options are Classics in the SHOP CLASSIC Four Key Product Pillars Clogs: Innovate & grow clog relevance Sandals: Significant long-term growth potential Personalization Visible Comfort Technology crocs™ Powerful Social & Digital Marketing Digital and social focus globally Come As You Are Brand ambassadors Social influencers Collaborations 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 VOGE NEDERLAND Generica Wielingen, klas 3fd OKTOBER NO ADVIESPRES CKW VOGUENE Iraina Kloof, klas zee - 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 THE POWER ORYOUTH OF Ode aan de generatie die de wereld gaat verande crocs™ Casual footwear market is estimated to grow at 4% per annum. 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 Jibbitz TM 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 CRO DA ED HALLO Choctober こんにちは CROCTOBER HOLA Lov a BE FRIE ST NDS HELLO 馨 00 crocs™ 15#16POSITIONED FOR GLOBAL GROWTH Invest in Visible Comfort Technology crocs 60830 Literdice crocs • LiteRide™ comfort franchise features lightweight, foam footbeds • Leveraged across collections, including Brooklyn sandals and Crocs at Work T • Top 5 franchise for Crocs crocs™ crocs 16#17POSITIONED FOR GLOBAL GROWTH Continue to Capture Strong Interest in Crocs at Work Following A Free Pair for Healthcare TOO ARE OOK HAQOES! u hav ore. vays unimaginable grateful. you eland Clinic 'ealth DOCSAPOC MEDIC naayeeli_aaah naayeell_aaah My invisible cape was pink too 1 melanated_rn melanated_rn Yesterday made 21 days of working in (...) ㅁ hoodratdiego hoodratdiego _juanitalouis juanitalouis Who's ready for work? #Sponsored Since I've (...) So grateful to be part of the (...) vetsportsmedicine vetsportsmedicine P Сия trexisthename trexisthename Shoutout to crocs for keeping healthcare workers (...) Thank you for a free pair of (...) 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 crocs COME AS YOU ARE 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 CHANG 9-21 BLACK LIVES MATTER 15.6K You asked, we created. 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 1375 Share crocs™ *China, Germany, Japan, Korea and US. Source: Images from TikTok. Add comment... < @justmaiko C + 1.6M 15.1K Share 0.10-1 @afterpayusa MOVA @crocs are the vibe #strapback #sponsored ♫ @Hovey Benjamin #Stra Add comment... Tik Tok 18#19POSITIONED FOR GLOBAL GROWTH love love Gleas GIRLS GIRLS Digital-Led Route to Market Non-digital 62.3% Digital E-commerce Crocs.com Third-party marketplaces (e.g., eBay) crocs™ * Chart reflects percentage of current quarter sales. Digital 37.7% e-tailers Wholesale (e.g., Amazon, Zappos, Zalando) 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 • crocs Prudent Investments to Support Our Long-Term 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 • 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 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 crocs™ 21#22FINANCIAL RESULTS Q3 Financial Results Q3 vs. PY Revenue $361.7 +15.9%* Gross Margin Adj. Gross Margin 57.2% +480 bp 57.4% +380 bp Adj. SG&A as % of Revenue 36.6% +280 bp Adj. Operating Margin 20.8% +660 bp Diluted EPS $0.91 +78% Adj. Diluted EPS $0.94 +65% * Revenue growth on a constant currency basis. See reconciliation to GAAP equivalents in Appendix 22 22#23FINANCIAL RESULTS YTD Financial Results Revenue Q3 YTD vs. PY $974.4 +1.9%* Gross Margin Adj. Gross Margin 53.5% +280 bp 54.0% +240 bp Adj. SG&A as % of Revenue 36.0% +210 bp Adj. Operating Margin 18.0% +450 bp Diluted EPS $1.89 +37% Adj. Diluted EPS $2.17 +44% * crocs™ Revenue growth on a constant currency basis. See reconciliation to GAAP equivalents 23 in Appendix#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 24#2525 25 APPENDIX#26NON-GAAP RECONCILIATION Non-GAAP cost of sales, gross profit, and gross margin reconciliation: Non-GAAP selling, general and administrative expenses reconciliation: Three Months Ended September 30, 2020 2019 2020 Nine Months Ended September 30, 2019 Three Months Ended September 30, Nine Months Ended September 30. 2020 GAAP revenues $ 361,736 $ (in thousands) 312,766 $ 974,445 $ 967,614 GAAP revenues 2019 2020 $ 361,736 $ (in thousands) 312,766 $ 974,445 2019 967,614 New distribution centers (1) GAAP cost of sales COVID-19 inventory write-off (2) $ 154,967 (897) $ 148,942 453,581 $ (3,678) (2,636) 476,796 (7,981) GAAP selling, general and administrative expenses (2,396) Donations of inventory 134,683 (50) $ 123,940 $ 371,371 $ 370,525 (9,970) COVID-19 severance costs Other Total adjustments Non-GAAP cost of sales $ (119) (1,016) 153,951 $ (42) (3,720) 145,222 (119) (175) (2,403) (5,151) (8,156) COVID-19 impact of bad debt (1) expense 48 (4,433) Other COVID-19 costs (2) $ (183) (827) 448,430 $ 468,640 Duplicate headquarters rent (3) (426) (1,120) GAAP gross profit $ GAAP gross margin 206,769 $ 57.2% 163,824 $ 52.4 % 520,864 $ 53.5% 490,818 50.7% Non-recurring expenses associated with cost reduction initiatives in 2019 Other (4) (809) (1,698) Total adjustments (1,652) (2,263) (809) (2,133) (20,886) (1,698) Non-GAAP gross profit Non-GAAP gross margin 207,785 $ 57.4% 167,544 53.6 % $ 526,015 54.0% $ 498,974 51.69 Non-GAAP selling, general and administrative expenses (5) $ 132,420 $ 123,131 $ 350,485 $ 368,827 (2) (1) Represents expenses, including expansion costs, related to our distribution centers in Dayton, Ohio and Dordrecht, the Netherlands. Represents an inventory write-off in our Asia Pacific segment associated with the impact of COVID-19. GAAP selling, general and administrative crocs™ expenses as a percent of revenues 37.2 % 39.6 % 38.1 % 38.3 Non-GAAP selling, general and administrative expenses as a percent of revenues 36.6% 39.4 % 36.0 % 38.1 (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 26#27NON-GAAP RECONCILIATION (cont'd) Non-GAAP income from operations and operating margin reconciliation: Non-GAAP earnings per share reconciliation: Three Months Ended September 30, 2020 2019 Nine Months Ended September 30, 2020 2019 Three Months Ended September 30, 2020 2019 Nine Months Ended September 30, 2020 2019 GAAP revenues $ 361,736 $ (in thousands) 312,766 $ 974,445 $ 967,614 (in thousands, except per share data) Numerator: GAAP income from operations GAAP net income $ $ Non-GAAP cost of sales adjustments (1) 72,086 $ 1,016 39,884 3,720 $ 149,493 5,151 $ 120,293 8,156 Non-GAAP selling, general and Non-GAAP cost of sales adjustments (¹) Non-GAAP selling, general and 61,889 1,016 $ 35,676 $ 3,720 129,531 S 5,151 99,584 8,156 administrative expenses adjustments (2) 2,263 Non-GAAP income from operations $ 75,365 $ 809 44,413 $ 20,886 175,530 $ 1,698 130,147 GAAP operating margin Non-GAAP operating margin 19.9% 20.8 % 12.8% 15.3 % 12.49 administrative expenses adjustments (2) Non-GAAP other income adjustment (3) Tax effect of non-GAAP adjustments (4) Non-GAAP net income 2,263 809 20,886 1,698 (919) (649) (6,109) $ 64,519 $ 40,205 $ 148,540 $ 109,438 14.2 % 18.0 % 13.5% Denominator: GAAP weighted average common shares (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. outstanding - basic 67,473 69,097 67,606 71,003 Plus: GAAP dilutive effect of stock options and unvested restricted stock units 912 1,079 1,002 1,339 GAAP weighted average common shares outstanding - diluted 68,385 70,176 68,608 72,342 GAAP net income per common share: Basic $ 0.92 Diluted $ 0.91 $ $ 0.52 $ 0.51 $ 1.92 $ 1.40 1.89 $ 1.38 Non-GAAP net income per common share: Basic $ 0.96 $ Diluted $ 0.94 $ 0.58 $ 0.57 $ 2.20 $ 1.54 2.17 $ 1.51 (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. (3) Represents a fair value adjustment associated with our donations of inventory. crocs™ 27 27 (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.#28ШТА Frei T 9