2020 Highlights and Growth Strategy

NON-GAAP RECONCILIATION (cont'd) Non-GAAP earnings per share reconciliation: Three Months Ended 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 RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL GUIDANCE December 31, 2020 2019 Year Ended December 31, First Quarter 2021: 2020 2019 (in thousands, except per share data) Non-GAAP operating margin reconciliation: GAAP operating margin Non-GAAP adjustments associated with distribution center investments Non-GAAP operating margin $ 183,330 $ 1,550 19,913 $ 312,861 $ 3,329 6,701 119,497 11,485 20,850 1,173 41,736 2,871 Full Year 2021: (133,466) $ 72,264 $ (15,781) 8,634 $ (919) (139,841) 220,538 (18,244) $ 115,609 GAAP operating margin Approximately 16% to 17% 1% 17% to 18% Non-GAAP operating margin reconciliation: Non-GAAP adjustments associated with distribution center investments Non-GAAP operating margin Non-GAAP effective tax rate reconciliation: Non-GAAP adjustments associated with amortization of IP Non-GAAP effective tax rate Approximately 17% to 18% 1% 18% to 19% 25% (7)% to (9)% 16% to 18% Denominator: GAAP weighted average common shares outstanding basic 66,729 68,441 67,386 70,357 Plus: GAAP dilutive effect of stock options and unvested restricted stock units 1,325 1,402 1,158 1,414 GAAP effective tax rate GAAP weighted average common shares outstanding - diluted 68,054 69,843 68,544 71,771 GAAP net income per common share: Basic Diluted $ $ 2.69 2.75 $ $ 0.29 $ 4.64 $ 1.70 0.29 $ 4.56 $ 1.66 Non-GAAP net income per common share: Basic $ Diluted $ 1.08 $ 1.06 $ 0.13 $ 0.12 $ 3.27 $ 1.64 3.22 $ 1.61 (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. (4) See 'Non-GAAP income tax expense (benefit) and effective tax rate reconciliation' above for more information. crocs™ 29 29

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