#1crocs™ INVESTOR PRESENTATION April 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, potential impacts to our business related to the COVID-19 pandemic, statements regarding future revenues, gross margin, selling, general and administrative expenses, operating income and operating margin, income tax expense, capital expenditures, business prospects and product pipeline and the impact of the coronavirus. We caution you that these statements are subject to a number of risks and uncertainties described in the Risk Factors section of the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC"). Accordingly, all actual results could differ materially from those described in this presentation. Those viewing this presentation are advised to refer to Crocs' Annual Report on Form 10-K, as well as other documents filed with the SEC for the additional discussions of these risk factors. Crocs is not obligated to update these forward-looking statements to reflect the impact of future events. 2#3crocs™ CONTENT COVID-19 Update Positioned for Global Growth Financial Results • Appendix 3#4" Despite recent softness in our business due to the COVID-19 pandemic, Crocs remains a strong, vibrant brand that is very well positioned. In the near-term, we have no liquidity concerns and have taken quick action to ensure we will be strongly cash flow positive for the remainder of the year. Over the long-term, we are confident we will restore our momentum in 2021 and continue our positive trajectory for years to come. crocs™ - Andrew Rees, President and CEO 4#5९ OUR COVID-19 PLAYBOOK X x DEFENSE Lower expenses Reduce working capital Defer capital expenditures Maximize liquidity OFFENSE Four key product pillars Powerful social & digital marketing Digital-led route to market Largest growth opportunity in Asia crocs™ LO 5#6WE'RE HERE FOR YOU EASY TO CLEAN COMFORTABLE SHOES crocs crocs™ Defensive Actions crocs Crocs (Default) Sponsored ... Certifiably comfortable and easy to clean for all- day comfort. Lower expenses Reduced salaries and wages, lowered marketing investment, and fewer discretionary expenses crocs AT WORK SLIP-RESISTANT EASY TO CLEAN LIGHTWEIGHT WATERPROOF 200 CROCS.COM Crocs At Work SHOP NOW Crocs work shoes and clogs are th... 387 70 Comments 63 Shares Like Comment Share Reduce working capital Tightly managing inventories and working with customers and vendors to manage receivables and payables Defer capital expenditures Deferred or cancelled certain investments that we were making to support growth Maximize liquidity Increased revolving credit facility, modified leverage ratios, temporarily suspended share repurchases CO 6#7ONE FOR YOU+ ONE FOR A HERO We're all in this together. Give an extra £10 with the purchase of a Classic Clog and we'll send a pair of shoes to healthcare workers on the frontline. BEING THERE FOR HEALTHCARE crocs™ 450K+ pairs donated globally to date $11M non-recurring expense in 2020 7#8CUSTOMER FEEDBACK crocs™ T K HAN crock crocs . Following crocs crocs To Our Friends in Healthcare, We want to thank you for everything you do, day in and day out, but even more so in these difficult times. Your compassion and selfless care for the people around you is more appreciated than you may know or feel. A special thanks to @drjcofthedc for always inspiring his patients and us, with his amazing energy and positivity. 1h m.grace123 Omg I have that pair of those and I love them!! Thank you to all the nurses and doctors!!❤ Σ < olivia_zanni OLIVIA ZANNI Posts Follow COMEIEL sonsielnurse Washington Health System EMERGENCY WE 9 crocs 28,577 views 1 HOUR AGO Add a comment... YOU crocs Following crocs Post *UPDATE: We are continuing our donation efforts on Monday at 8 p.m. ET to accommodate various shift schedules. Thank you for the tremendous response this week! We have officially donated over 180,000 pairs of shoes to healthcare workers on the frontlines With all of our appreciation, Your friends at Crocs A 3d 07 137 likes ☐ olivia_zanni Thank you @crocs for the free shoes!! #Crocs #ComeAsYouAre #covid #covid19 #RN #oncologynurse #heartsoulscrubs View all 22 comments crocs We love your photo! Can we share in our marketing? Mantion us and conly with #Creek ♡ Q Y 2 likes ☑ Σ sonsielnurse Thank you @Crocs for supporting our healthcare workers and protecting them during the coronavirus pandemic. We appreciate your... more 43 minutes ago Clariza @Clarizatapia 94-3h Guess who got free Crocs today! cheycummins I've been trying for over a week! my gym shoes aren't doing it anymore for my long 16 hour shifts at work! I need some crocs! 3d 65 likes Reply от Liked by k8e_0583 and 33,948 others 3 DAYS AGO Tina Cantrell-Collins thank you for my new crocs. its very much appreciated Add a comment... 087 Post Like Reply Message - 20h GIF THIS GIRL! 3 07 Clariza @Clarizatapia_94.3h Thanks @Crocs for supporting healthcare workers ! 2 1 1 8#9CUSTOMER FEEDBACK crocs™ ctobe crocs CS crocs☆ 대구 재료한 의료진분들께 #힘내자대구 심쿵 덕분에 안전하게 생활하고 있습니다! 감사합니다! 항상 응원할게도 위의 것을 성가시기 바랍니다. 1♡Date kes Thanky crocs 대구 의료팀 의료선분들께 Mais les in 9149 2321 4335 주셔서 감사합니다♡ 조심하시고 ♡ 건강하게 지내고 있습니다 코로나 조심하시고 힘내세요 #163247 #4 존경합니다. 로건 여러분 5132 14 be M Mt. Hoods Stix whe 없어져라 코로나 합니다 ♡ DAEGU SUPER 이러스 Fr 두겠지만 이겨내고 있는 그리고 지켜주고 있는 여러분들은 우리와 같이 도 화이팅 #힘 대구경북 들었는데 힘든 상황속에서 힘내세요 감사 또 감사합니다. 의장 덕분에 대한민국을 지킬 수 있습니다!합니다! 다. 수 크록스 코리아 직접 일 대구가 안전지대가 되는 그날까지! 모두 힘내세요! 화이팅입니다! die have of w 덕분에 더 빠르게 따뜻해질 한국을 기대하고 99일 합니다! 감사합니다!!! 크록스 크리의 직원 일동· THAN 9#10SK8 crocs ZAP! LONG-TERM GROWTH DRIVERS ل 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 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 Visible Comfort Technology Personalization 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 growth continues Retail: prioritize outlets as most profitable retail format Wholesale: Greatest growth opportunities within e-tail accounts and distributors Largest Growth Opportunity in Asia Asia: Largest long-term growth potential Americas: Strong growth momentum EMEA: Stable growth 10#11PRODUCT & MARKETING Grow Clog Relevance • • Market leader in growing $5B* global category Crocs clog revenues +11% in Q1 2020 to -66% of footwear sales 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 and EMEA DOWNLOAD THE MAY ISSUE FOR FREE @luke_jefferson_day crocs™ * Internal estimate. Source: British GQ, May 2020. @britishgq SWIPE UP See More > 11#12PRODUCT & MARKETING crocs™ *Internal estimate Significant Long-Term Growth Potential in Sandals • Growing $30B* global casual sandal market - Fragmented market with no clear leader • Consistent track record of growth • - Sandal revenue +10% in 2019 ~19% of footwear sales 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 12#13PRODUCT & MARKETING Invest in Visible Comfort Technology LiteRide TM comfort franchise features foam footbeds • Top 5 franchise for Crocs Leveraged in other collections, e.g., Brooklyn sandals and Crocs at Work™ crocs™ 13#14PRODUCT & MARKETING Personalization with Jibbitz TM 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 Effect we see is an overall increase in clog and sandal sales crocs™ 9 14#15PRODUCT & MARKETING A Marketing Strategy to Drive Brand Heat crocs™ CELEBRITIES Drive mass reach MASS INFLUENCERS Drive mass engagement Highest rank ever for Crocs brand In Piper Sandler's Spring "Taking Stock with Teens❞ survey INTEREST-BASED INFLUENCERS Drive brand relevance Double-digit growth in brand metrics Brand desirability, brand relevance and brand consideration each rose DD for 2018 and over the past three years in our annual brand survey UGC & EMPLOYEES Drive trust and local WOM 15#16PRODUCT & MARKETING 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™ * US, China, Japan, Korea and Germany. COLONEL SANDERS ORIGINAL RECIPE priyankachopra Follow priyankachopra Healthcare professionals around the world are working everyday to ensure our safety and fighting for us on the frontlines. Their courage, commitment and sacrifices are saving innumerable lives in this global pandemic. A While we cannot even imagine what's it like to be in their shoes, over the past several weeks, @crocs has donated thousands of pairs to the heroes in these photos to ensure that they are not only comfortable in them, but safer in them too. Because of this, I'm so proud to partner with them to give 10,000 pairs to healthcare workers at @cedarssinai in Los Angeles and 10,000 more to healthcare professionals in Luke Combs @lukecombs Crocs cares, as do I. Honored to partner with my friends at @Crocs to donate thousands of pairs of Crocs to those risking it all on the front lines. Thank you to each & every worker at these hospitals, as well as hospitals all over the world. Y'all are the real heroes in this. LUKE GOMBS X crocs™ 151,830 views 1 HOUR AGO PROUD TO SUPPORT WEST TN HEALTHCARE / VANDERBILT HARDIN MEDICAL CENTER Log in to like or comment. Vanderbilt Health and 3 others 10:50 AM Apr 10, 2020 - Twitter for iPhone 0 16#17CHANNEL love love Gleas GIRLS GIRLS Digital-Led Route to Market LO Non-digital 69.9% Digital 30.1% Digital E-commerce Third-party marketplaces (e.g., eBay) e-tailers Wholesale (e.g., Amazon, Ilzzo, Zalando) Distributors, multi- brand, and brick-and- mortar retailers Retail Company-operated full-price retail and outlet stores, kiosks, and store-in-store Crocs.com crocs™ * Chart is as of percentage of Q1 sales. 17#18REGION Largest Growth Opportunity in Asia Asia: greatest long-term growth opportunity • • Increase brand recognition and drive clog relevance in China with Tier 1 celebrity, Yang Mi Multichannel growth in Japan and South Korea Strong E-commerce growth supported by participation on key marketplaces Americas: largest region . . Maximize clog growth and expand sandal penetration at wholesale Leverage leading position within major e-tailers • Continue strong E-commerce growth EMEA: most diverse region • Maximize Digital Commerce 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#19FINANCIAL RESULTS Q1 HIGHLIGHTS Record Americas revenue +14% Strong e-commerce revenue +16% Improved adjusted gross margin +110bps to 48.0%* • Strengthened Crocs TM brand with $5M marketing investment Highest rank ever for Crocs TM in Piper Sandler Spring "Taking Stock with Teens" crocs™ * See reconciliation to GAAP equivalents in Appendix 19#20Q1 Financial Results 1Q20 vs. LY Revenue $281.1 (3.3%)* Adj. Gross Margin 48.0% +110 bp Gross Margin 47.7% +120 bp Adj. SG&A as % of Revenue 38.7% (340 bp) Adj. Operating Margin 9.4% (230 bp) Adj. EPS $0.22 ($0.14) * Revenue growth on a constant currency basis and excluding impact of store closures. See reconciliation to GAAP equivalents in Appendix#21FY2020 Color • Sharpest decline expected in Q2, as retail is materially closed for most of the quarter E-commerce will continue to outperform in all regions SG&A of $440-$460M ~$30-$50M lower than 2019 • $100M lower than 2020 plan • • Capital expenditures of ~$30M Lower than pre-COVID guidance of $50-$60M Inventory to peak in Q2 No liquidity concerns Positive free cash flow throughout remainder of 2020 crocs™ 21 21#22APPENDIX 22 22#23• 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. Alife Balenciaga • Peeps . Barneys • Pleasures Pizzaslime . Beams . Post Malone Chinatown Market • PSY . Christopher Kane . Rare Market • Dillon Francis • Ruby Rose . Drew Barrymore • Smiley x Urban . KFC KIKS . KISS • Left Hand LA Liberty London Luke Combs • • Outfitters x Chinatown Market Takashi Murakami @ ComplexCon Vera Bradley Vivienne Tam Madewell Myge crocs™ • Yang Mi $20 145 INEASAY 9966#24SELECT IMAGES 407 Th THE B HODI mu Бол again IN SELE NET Justin Bieber Ariana Grande Miley Cyrus Pharrell Williams Whoopie Goldberg Brooke Shields crocs™ Source: Google images. Note: None of the above images were sponsored by Crocs. 24 24#25SELECT IMAGES kimkardashian 23h n COLONEL SANDERS ORIGINAL RECIPE Send Message @kfe V Kim Kardashian crocs™ PIG 5 37w @sakinahmatos @teammatos5 Send Message 99 www Nicole Byers Yetur Gross-Matos Adam Sandler Jared Leto Source: Google images. Note: None of the above images were sponsored by Crocs. 25 45#26NON-GAAP RECONCILIATION Non-GAAP cost of sales, gross profit, and gross margin reconciliation: Non-GAAP selling, general and administrative expenses reconciliation: 2020 Three Months Ended March 31, 2019 2020 Three Months Ended March 31, 2019 GAAP revenues GAAP cost of sales $ (in thousands) 281,160 $ 295,949 GAAP revenues $ (in thousands) 281,160 $ 295,949 $ 146,998 $ 158,334 Other New distribution centers Total adjustments Non-GAAP cost of sales GAAP gross profit (1) (927) (1,165) (110) Donations of inventory (927) (1,275) $ 146,071 $ 157,059 $ GAAP gross margin 134,162 $ 47.7 % 137,615 46.5 % GAAP selling, general and administrative expenses COVID-19 impact of bad debt expense Duplicate headquarters rent (2) Non-recurring expenses associated with cost reduction initiatives Other Total adjustments Non-GAAP selling, general and administrative expenses (4) $ 113,350 $ 105,037 (1) (2,773) (1,702) (207) (3) (685) 69 $ (4,613) 108,737 $ (685) 104,352 Non-GAAP gross profit $ 135,089 $ Non-GAAP gross margin 48.0 % 138,890 46.9 % GAAP selling, general and administrative expenses as a percent of revenues 40.3 % 35.5 % Non-GAAP selling, general and administrative expenses as a percent of revenues 38.7 % 35.3 % (1) (1) Represents non-recurring expenses related to our distribution centers in Dayton, Ohio and Dordrecht, the Netherlands. Represents bad debt expense associated with the impact of COVID-19 on wholesale partners in our Asia Pacific segment. (2) (3) Non-recurring expenses associated with cost reduction initiatives in 2019. As a result of the COVID-19 pandemic, our move to our new headquarters in Broomfield, Colorado has been delayed, resulting in duplicate rent costs. (4) Non-GAAP selling, general and administrative expenses are presented gross of tax. crocs™ 26 26#27NON-GAAP RECONCILIATION (cont'd) Non-GAAP income from operations and operating margin reconciliation: Non-GAAP earnings per share reconciliation: 2020 Three Months Ended March 31, 2019 2020 GAAP revenues GAAP income from operations $ (in thousands) 281,160 $ 295,949 Three Months Ended March 31, 2019 (in thousands, except per share data) Numerator: 20,812 $ Non-GAAP cost of sales adjustments (1) 927 32,578 1,275 GAAP net income $ 11,091 $ 24,710 Non-GAAP selling, general and administrative expenses adjustments (2) 4,613 685 Non-GAAP income from operations $ 26,352 $ 34,538 Non-GAAP cost of sales adjustments Non-GAAP selling, general and administrative expenses adjustments Tax effect of non-GAAP operating adjustments (1) 927 1,275 (2) 4,613 685 (3) (1,385) Non-GAAP net income S 15,246 $ 26,670 GAAP operating margin 7.4% 11.0% Denominator: Non-GAAP operating margin 9.4% 11.7% GAAP weighted average common shares outstanding - basic 67,931 73,009 (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. Plus: GAAP dilutive effect of stock options and unvested restricted stock units GAAP weighted average common shares outstanding - diluted 1,287 1,866 69,218 74,875 GAAP net income per common share: Basic Diluted 0.16 $ 0.34 $ 0.16 $ 0.33 Non-GAAP net income per common share: Basic $ 0.22 $ 0.37 Diluted $ 0.22 $ 0.36 (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) crocs™ In the three months ended March 31, 2019, non-GAAP operating adjustments were in jurisdictions subject to a full valuation allowance, and thus had no material net tax impact. 27 27#28ШТА Frei T 9