ADDDF - Crocs: Accelerating Brand Momentum Diverges From Stock Price

• Crocs has built a community of loyal customers who engage with the brand and express themselves through their footwear.
• Crocs is experiencing incredible business momentum, with sales growing 67% year-over-year in FY'21.
• The Company generates cash more efficiently than peers and maintains industry-leading profitability metrics.
• Both the Crocs and Hey Dude brands hold strong potential in underpenetrated international markets.
• Valued at only ~8.2x FY'21 free cash flow, Crocs represents a compelling long-term investment.

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