Business Description

The Company Crocs, Inc. and our consolidated subsidiaries (collectively, the “Company,” “we,” “us,” or “our”) are engaged in the design, development, worldwide marketing, distribution, and sale of casual lifestyle footwear and accessories for all. We strive to be the world leader in innovative casual footwear, combining comfort and style with a value that consumers want. We have two reportable operating segments: the Crocs Brand and the HEYDUDE Brand, which are discussed in more detail in “Business Segments and Geographic Information” below. Our Vision At the heart of our brands are our consumers. We have brands with broad democratic appeal and accessible price points, which are aligned with global megatrends such as casualization, comfort, and personalization. The philosophy and vision for our brands have been important drivers of our results and, we believe, will continue to be important as we strive to realize the full global potential of our brands. Our enterprise growth priorities are currently centered around three strategic areas of focus: • Ignite our icons through driving awareness and relevance for our brands — Central to our Crocs Brand’s DNA are our clogs, sandals, and Jibbitz™ charms, which are key product pillars that we believe will drive long-term growth. Our Classic Clog is our icon, and we continue to grow our broader clog silhouette with new designs, colors, graphics, licensed properties, and collaborations. The HEYDUDE Brand provides opportunity to play in a broader casual footwear market. The brand is known for its versatility, easy on and off characteristics, and comfort. The Wally and Wendy are distinct and innovative loafer silhouettes and represent our icons. • Expand wearing occasions through thoughtful diversification of our product range to attract new and retain existing consumers — For the Crocs Brand, we see opportunity to diversify within our clog, sandal, personalization, and broader lifestyle product offering, ultimately attracting new consumers. We believe sandals are a natural extension of the Crocs Brand leveraging our signature molding technology to provide casual, comfortable footwear for a variety of wearing occasions and consumers. In addition to the development of our sandals product pillar, we see further opportunity to build on a broader personalization opportunity while expanding into more lifestyle occasions. For the HEYDUDE Brand, our primary focus is diversification within our core Wally and Wendy silhouettes, while pursuing natural extensions into sneakers, dress casual, boots, and sandals. Diversification within our icon silhouettes include the Stretch Sox, Stretch Canvas, Craft Linen, and Stretch Jersey. • Drive market share gains across our Tier 1 markets through prioritization of investments behind our strategic markets — For the Crocs Brand, we are currently focused on six Tier 1 markets: (i) China, (ii) India, (iii) Japan, (iv) South Korea, (v), the U.S., and (vi) Western Europe. Our international sales in 2025 were 48.6% of Crocs Brand revenues compared to 44.1% and 41.0% in 2024 and 2023, respectively. For the HEYDUDE Brand, our current primary focus is to stabilize the U.S. marketplace, and we have made progress towards this goal. To support continued stabilization in the future, we plan to continue to support various marketing activities to ultimately drive higher brand awareness. This includes developing a pipeline of collaborations and brand activations. Across our portfolio, leading with digital remains a priority. Digital sales include sales directly to consumers through our company-owned websites and third-party marketplaces as well as wholesale sales to our global e-tailers. Our digital sales in 2025 were 37.8% of consolidated revenues, compared to 37.2% and 37.9% of consolidated revenues in 2024 and 2023, respectively. Products Since we first introduced a single-style clog in six colors in 2002, we have grown to be a world leader of innovative, casual footwear for all. We offer a broad portfolio of all-season products, while remaining true to our core casual footwear heritage. 2 Table of Contents Crocs Brand Recognized globally for our unmistakable iconic molded clog silhouette, we have taken the successful formula of a simple design aesthetic, paired it with modern comfort, and expanded into a wide variety of casual footwear products including sandals—wedges, flips, and slides—that meet the needs of the whole family.…