DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (amounts in thousands, except par value) June 30, 2026 March 31, 2026 ASSETS (AUDITED) Cash and cash equivalents $1,602,589 $1,907,249 Trade accounts receivable, net of allowances ($28,669 and $38,198 as of June 30, 2026, and March 31, 2026, respectively) (Note 2) 378,348 318,978 Inventories 807,580 487,018 Prepaid expenses 61,372 53,236 Other current assets 67,940 82,114 Income tax receivable 4,200 1,825 Total current assets 2,922,029 2,850,420 Property and equipment, net of accumulated depreciation ($473,151 and $457,173 as of June 30, 2026, and March 31, 2026, respectively) 337,750 337,782 Operating lease assets 432,484 335,098 Goodwill 13,990 13,990 Other intangible assets, net of accumulated amortization ($20,849 and $20,968 as of June 30, 2026, and March 31, 2026, respectively) 15,635 15,643 Deferred tax assets, net 67,295 68,501 Other assets 79,438 66,331 Total assets $3,868,621 $3,687,765 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $726,407 $384,529 Accrued payroll 57,325 119,597 Operating lease liabilities (Note 5) 73,358 83,931 Other accrued expenses 146,713 171,173 Income tax payable 57,294 36,475 Value added tax payable 2,534 8,369 Total current liabilities 1,063,631 804,074 Long-term operating lease liabilities (Note 5) 398,976 291,263 Income tax liability 28,234 26,313 Other long-term liabilities 76,098 66,477 Total long-term liabilities 503,308 384,053 Commitments and contingencies (Note 6) Stockholders’ equity Common stock ($0.01 par value per share; 750,000 shares authorized; 136,725 and 139,978 shares issued and outstanding as of June 30, 2026, and March 31, 2026, respectively) 1,367 1,400 Additional paid-in capital 298,049 287,795 Retained earnings 2,034,898 2,246,362 Accumulated other comprehensive loss (Note 8) (32,632) (35,919) Total stockholders’ equity 2,301,682 2,499,638 Total liabilities and stockholders’ equity $3,868,621 $3,687,765 See accompanying notes to the condensed consolidated financial statements. Table of Contents 5 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (amounts in thousands, except per share data) Three Months Ended June 30, 2026 2025 Net sales (Note 2 and Note 10) $1,019,531 $964,538 Cost of sales 444,368 426,632 Gross profit 575,163 537,906 Selling, general, and administrative expenses (Note 10) 419,862 372,619 Income from operations (Note 10) 155,301 165,287 Interest income (15,868) (18,696) Interest expense 2,227 935 Other income, net (108) (18) Total other income, net (13,749) (17,779) Income before income taxes 169,050 183,066 Income tax expense (Note 4) 39,078 43,863 Net income 129,972 139,203 Other comprehensive income (loss), net of tax Unrealized gain (loss) on cash flow hedges 2,778 (20,209) Foreign currency translation gain 509 11,774 Total other comprehensive income (loss), net of tax 3,287 (8,435) Comprehensive income $133,259 $130,768 Net income per share Basic $0.94 $0.93 Diluted $0.94 $0.93 Weighted-average common shares outstanding (Note 9) Basic 138,263 149,344 Diluted 138,559 149,635 See accompanying notes to the condensed consolidated financial statements. Table of Contents 6 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) (amounts in thousands) Three Months Ended June 30, 2026 Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Total Stockholders’ Equity Shares Amount Balance, March 31, 2026 139,978 $1,400 $287,795 $2,246,362 $(35,919) $2,499,638 Stock-based compensation 4 — 10,545 — — 10,545 Shares issued upon vesting 1 — — — — — Shares withheld for taxes — — (291) — — (291) Repurchases of common stock (Note 8) (3,258) (33) — (338,153) — (338,186) Excise taxes related to repurchases of common stock — — — (3,283) — (3,283) Net income — — — 129,972 — 129,972 Total other comprehensive income — — — — 3,287 3,287 Balance, June 30, 2026 136,725 $1,367 $298,049 $2,034,898 $(32,632) $2,301,682 Three Months Ended June 30, 2025 Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Loss Total Stockholders’ Equity Shares Amount Balance, March 31, 2025 150,201 $1,502 $253,466 $2,307,699 $(49,654) $2,513,013 Stock-based compensation 3 — 8,553 — — 8,553 Shares issued upon vesting 4 — — — — — Shares withheld for taxes — — (237) — — (237) Repurchases of common stock (Note 8) (1,666) (17) — (182,974) — (182,991) Excise taxes related to repurchases of common stock — — — (1,627) — (1,627) Net income — — — 139,203 — 139,203 Total other comprehensive loss — — — — (8,435) (8,435) Balance, June 30, 2025 148,542 $1,485 $261,782 $2,262,301 $(58,089) $2,467,479 See accompanying notes to the condensed consolidated financial statements. Table of Contents 7 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (amounts in thousands) Three Months Ended June 30, 2026 2025 OPERATING ACTIVITIES Net income $129,972 $139,203 Reconciliation of net income to net cash provided by (used in) operating activities: Depreciation, amortization, and accretion 17,713 19,424 Amortization on cloud computing arrangements 559 556 Bad debt (benefit) expense (4,788) 597 Deferred tax expense (benefit) 470 (713) Stock-based compensation 10,741 8,739 Loss on disposal of assets 82 22 Changes in operating assets and liabilities: Trade accounts receivable, net (54,582) (44,199) Inventories (320,562) (354,125) Prepaid expenses and other current assets 9,572 (8,817) Income tax receivable (2,375) 21,254 Net operating lease assets and lease liabilities (248) 1,925 Other assets (13,542) (8,438) Trade accounts payable 341,579 314,845 Other accrued expenses (96,344) (66,301) Income tax payable 20,819 (565) Other long-term liabilities 8,838 12,739 Net cash provided by operating activities 47,904 36,146 INVESTING ACTIVITIES Purchases of property and equipment (15,222) (23,940) Proceeds from sale of assets 9 11 Net cash used in investing activities (15,213) (23,929) FINANCING ACTIVITIES Repurchases of common stock (338,186) (182,991) Cash paid for shares withheld for taxes (291) (237) Net cash used in financing activities (338,477) (183,228) Effect of foreign currency exchange rates on cash and cash equivalents 1,126 2,239 Net change in cash and cash equivalents (304,660) (168,772) Cash and cash equivalents at beginning of period 1,907,249 1,889,188 Cash and cash equivalents at end of period $1,602,589 $1,720,416 Table of Contents 8 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (amounts in thousands) (continued) Three Months Ended June 30, 2026 2025 SUPPLEMENTAL CASH FLOW DISCLOSURE Cash paid during the period Income taxes, net of refunds $19,011 $16,923 Interest 1,407 780 Operating leases 27,380 20,437 Non-cash investing activities Changes in trade accounts payable and other accrued expenses for purchases of property and equipment 291 80 Accrued for asset retirement obligation assets related to leasehold improvements 2,315 214 Non-cash financing activities Accrued excise taxes related to repurchases of common stock 3,283 1,627 See accompanying notes to the condensed consolidated financial statements. Table of Contents 9 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) Note 1. General The Company. Deckers Outdoor Corporation and its consolidated subsidiaries (collectively, the Company) is a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories developed for both everyday casual lifestyle use and high-performance activities. The Company markets its products primarily under three proprietary brands: HOKA, UGG, and Teva. The Company’s brands compete across the fashion and casual lifestyle, performance, running, and outdoor markets. The Company sells its products through quality domestic and international retailers and international distributors in its wholesale channel, and directly to global consumers through its Direct-to-Consumer (DTC) channel, which is comprised of an e-commerce and retail store presence. Management seeks to differentiate the Company’s brands and products by offering diverse lines that emphasize fashion, performance, authenticity, functionality, quality, and comfort, and products tailored to a variety of activities, seasons, and demographic groups. Independent third-party contractors manufacture all of the Company’s products (independent manufacturers). Basis of Presentation. The unaudited condensed consolidated financial statements and accompanying notes thereto (referred to herein as condensed consolidated financial statements) as of June 30, 2026, and for the three months ended June 30, 2026 (current period), and 2025 (prior period) are prepared in accordance with generally accepted accounting principles in the US (US GAAP) for interim financial information pursuant to Rule 10-01 of Regulation S-X issued by the SEC. Accordingly, the condensed consolidated financial statements do not include all the information and disclosures required by US GAAP for annual financial statements and accompanying notes thereto. The condensed consolidated balance sheet as of March 31, 2026, is derived from the Company’s audited consolidated financial statements. In the opinion of management, the condensed consolidated financial statements include all normal and recurring entries necessary to fairly present the results of the interim periods presented but are not necessarily indicative of actual results to be achieved for full fiscal years or other interim periods. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2026 (prior fiscal year), which was filed with the SEC on May 22, 2026 (2026 Annual Report). Consolidation. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Reportable Operating Segments. As of June 30, 2026, the Company’s three reportable operating segments include the worldwide operations of the HOKA brand, UGG brand, and Other brands (primarily consisting of the Teva brand) (collectively, the Company’s reportable operating segments). The Other brands reportable operating segment includes historical results of brands for which standalone operations have been phased out in the prior fiscal year as described in Note 1, “General,” within the section titled “Reportable Operating Segments” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report. Refer to Note 10, “Reportable Operating Segments,” for further information on the Company’s reportable operating segments. Use of Estimates. The preparation of the Company’s condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the amounts reported. Management bases these estimates and assumptions upon historical experience, existing and known circumstances, authoritative accounting pronouncements, and other factors it believes to be reasonable. In addition, management has considered the potential impact of macroeconomic and geopolitical factors on its business and results of operations, including inflationary pressures, increased tariffs, the potential for refunds of previously paid tariffs, rising supply chain costs, high interest rates, foreign currency exchange rate volatility, escalating global conflicts, changes in discretionary spending, and recession risks. Although the full impact of these factors, including the amount, timing, and realization of any tariff refunds, is unknown, the Company believes it has made appropriate accounting estimates and assumptions based on the facts and circumstances available as of the reporting date. Table of Contents 10 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) However, actual results could differ materially from these estimates and assumptions, which may result in material effects on the Company’s financial condition, results of operations, and liquidity. Refer to Note 1, “General,” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report for further information on the significant areas requiring the use of management estimates and assumptions. Foreign Currency Translation. The Company considers the US dollar to be its functional currency. The Company’s wholly owned foreign subsidiaries have various assets and liabilities, primarily cash, receivables, and payables, which are denominated in currencies other than its functional currency. The Company remeasures these monetary assets and liabilities using the exchange rate at the end of the reporting period, which results in gains and losses that are recorded in selling, general, and administrative (SG&A) expenses in the condensed consolidated statements of comprehensive income as incurred. In addition, the Company translates assets and liabilities of subsidiaries with reporting currencies other than US dollars into US dollars using the exchange rates at the end of the reporting period, which results in financial statement translation gains and losses recorded in other comprehensive income or loss (OCI), net of tax, in the condensed consolidated statements of comprehensive income. Seasonality. A significant part of the UGG brand’s business has historically been seasonal, with the highest percentage of net sales occurring in the third fiscal quarter, which has contributed to variation in results of operations from quarter to quarter. However, as the HOKA brand’s net sales have increased as a percentage of aggregate net sales, the impacts of seasonality have been partially mitigated as HOKA brand sales are generally more evenly distributed throughout the fiscal year. However, quarterly results may fluctuate based on, among other things, the timing of product launches, customer demand, inventory management decisions, and the timing of product shipments, including impacts from changes in third-party logistics providers and other distribution network initiatives. This trend is expected to continue. In addition, the Company has further mitigated the impacts of seasonality by diversifying and expanding its year-round product offerings across its brands. Recent Accounting Pronouncements. Other than outlined below, there have been no developments with respect to recently issued accounting standards (ASUs) relative to those disclosed in the 2026 Annual Report, including the expected dates of adoption and impact on disclosures in the Company’s annual consolidated financial statements and interim condensed consolidated financial statements. Standard Description Impact on Adoption ASU 2025-05 - Measurement of Credit Losses for Accounts Receivable and Contract Assets This ASU provides a practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset when estimating expected credit losses on trade accounts receivable and contract assets. This ASU is effective on a prospective basis for fiscal years beginning after December 15, 2025. Early adoption is permitted. The ASU was effective for the Company as of April 1, 2026, but the Company did not elect the practical expedient, as such, this ASU did not impact the Company’s interim condensed consolidated financial statements. Table of Contents 11 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) Note 2. Revenue Recognition and Business Concentrations Disaggregated Revenue. Refer to Note 10, “Reportable Operating Segments,” for further information on the Company’s disaggregation of revenue by reportable operating segments. Channel Concentration. Net sales by channel were as follows: Three Months Ended June 30, 2026 2025 Wholesale $666,714 $652,364 Direct-to-Consumer 352,817 312,174 Total $1,019,531 $964,538 Geographic Concentration. Net sales by geography were as follows: Three Months Ended June 30, 2026 2025 Domestic $517,428 $501,258 International 502,103 463,280 Total $1,019,531 $964,538 Sales Return Asset and Liability. Sales returns are a refund asset for the right to recover the inventory and a refund liability for the stand-ready right of return. The refund asset for the right to recover the inventory is recorded in other current assets and the related refund liability is recorded in other accrued expenses in the condensed consolidated balance sheets. The following tables summarize changes in the estimated sales returns for the periods presented: Sales Return Asset Sales Return Liability Balance, March 31, 2026 $27,729 $(80,055) Net additions to sales return liability (1) 7,415 (39,046) Actual returns (16,619) 60,420 Balance, June 30, 2026 $18,525 $(58,681) Sales Return Asset Sales Return Liability Balance, March 31, 2025 $21,120 $(63,462) Net additions to sales return liability (1) 7,369 (40,888) Actual returns (13,556) 55,508 Balance, June 30, 2025 $14,933 $(48,842) (1) Net additions to the sales return liability include a provision for anticipated sales returns, which consists of both contractual return rights and discretionary authorized returns. Table of Contents 12 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) Contract Liabilities. Contract liabilities are recorded in other accrued expenses in the condensed consolidated balance sheets and include loyalty programs and other deferred revenue. Loyalty Programs. Activity related to loyalty programs was as follows: Three Months Ended June 30, 2026 2025 Beginning balance $(21,000) $(18,566) Redemptions and expirations for loyalty certificates and points recognized in net sales 6,066 4,994 Deferred revenue for loyalty points and certificates issued (4,982) (4,205) Ending balance $(19,916) $(17,777) Deferred Revenue. Activity related to deferred revenue was as follows: Three Months Ended June 30, 2026 2025 Beginning balance $(30,139) $(27,305) Additions of customer cash payments (28,424) (27,176) Revenue recognized 29,029 25,573 Ending balance $(29,534) $(28,908) Refer to Note 2, “Revenue Recognition and Business Concentrations,” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report for further information on the Company’s variable consideration accounting policies, including sales return asset and liability, as well as contract liabilities. Note 3. Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis. Refer to Note 4, “Fair Value Measurements,” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report for further information on the Company’s fair value accounting policies. Assets and liabilities that are measured on a recurring basis at fair value in the condensed consolidated balance sheets are as follows: As of Measured Using June 30, 2026 Level 1 Level 2 Level 3 Assets: Cash equivalents: Money-market funds $1,108,291 $1,108,291 $— $— Other current assets: Designated Derivative Contracts asset 10,977 — 10,977 — Other assets: Non-qualified deferred compensation asset 27,483 27,483 — — Total assets measured at fair value $1,146,751 $1,135,774 $10,977 $— Table of Contents 13 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) As of Measured Using June 30, 2026 Level 1 Level 2 Level 3 Liabilities: Other accrued expenses: Non-qualified deferred compensation liability $(2,696) $(2,696) $— $— Other long-term liabilities: Non-qualified deferred compensation liability (36,626) (36,626) — — Total liabilities measured at fair value $(39,322) $(39,322) $— $— As of Measured Using March 31, 2026 Level 1 Level 2 Level 3 Assets: Cash equivalents: Money-market funds $1,462,683 $1,462,683 $— $— Other current assets: Designated Derivative Contracts asset 7,316 — 7,316 — Non-Designated Derivative Contracts asset 370 — 370 — Other assets: Non-qualified deferred compensation asset 22,845 22,845 — — Total assets measured at fair value $1,493,214 $1,485,528 $7,686 $— Liabilities: Other accrued expenses: Non-qualified deferred compensation liability $(2,407) $(2,407) $— $— Other long-term liabilities: Non-qualified deferred compensation liability (29,291) (29,291) — — Total liabilities measured at fair value $(31,698) $(31,698) $— $— The fair value of Designated Derivative Contracts and Non-Designated Derivative Contracts is determined by using quoted market prices of the same or similar instruments, including spot and forward currency exchange rates, adjusted for counterparty exposure and the Company’s own credit risk, if any. Refer to Note 7, “Derivative Instruments,” for further information, including the definition of the terms Designated Derivative Contracts and Non- Designated Derivative Contracts. Table of Contents 14 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) Note 4. Income Taxes Income tax expense and the effective income tax rate were as follows: Three Months Ended June 30, 2026 2025 Income tax expense $39,078 $43,863 Effective income tax rate 23.1% 24.0% The tax provisions during the three months ended June 30, 2026, and 2025, were computed using the estimated effective income tax rate applicable to each of the domestic and foreign taxable jurisdictions for the current fiscal year ending March 31, 2027 (current fiscal year), and prior fiscal year, respectively, and were adjusted for discrete items that occurred within the periods presented above. During the three months ended June 30, 2026, the net change in the effective income tax rate, compared to the prior period, was primarily due to non-recurring discrete tax expense for unrecognized tax benefits in the prior period and changes in jurisdictional mix of worldwide income before taxes. Note 5. Leases The Company enters into operating lease contracts, which primarily relate to retail stores, showrooms, offices, and distribution facilities. There were no material changes outside the ordinary course of business during the three months ended June 30, 2026, to the Company’s operating lease terms disclosed in the 2026 Annual Report. Supplemental information for amounts presented in the condensed consolidated statements of cash flows related to operating leases was as follows: Three Months Ended June 30, 2026 2025 Non-cash operating activities (1) Operating lease assets obtained in exchange for lease liabilities $120,130 $45,271 Reductions to operating lease assets for reductions to lease liabilities (157) (2,652) (1) Amounts disclosed include non-cash additions or reductions resulting from lease remeasurements, as well as adjustments for tenant improvement allowances. Non-cash additions in the current period are primarily the result of a lease extension for a warehouse and DC, as well as continued investments in the Company’s global retail store footprint and showrooms. Note 6. Commitments and Contingencies Purchase Obligations. There were no material changes outside the ordinary course of business during the three months ended June 30, 2026, to the Company’s purchase obligations disclosed in the 2026 Annual Report. Contingencies. Except as noted below, there were no material changes outside the ordinary course of business during the three months ended June 30, 2026, to the Company’s contingencies disclosed in Note 8, “Commitments and Contingencies,” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report. Tariff Refunds. In February 2026, the US Supreme Court invalidated tariffs imposed under the International Emergency Economic Power Act (IEEPA). In March 2026, the US Court of International Trade subsequently issued an order directing US Customs and Border Protection (CBP) to refund IEEPA tariffs that were previously collected. In April 2026, CBP released the Consolidated Administration and Processing Entries (CAPE) functionality to facilitate a phased approach to process IEEPA tariff refunds. Subsequent to June 30, 2026, the Company began Table of Contents 15 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) filing for refunds of previously paid IEEPA tariffs pursuant to the CAPE Phase 2 administrative refund process announced in June 2026. The Company previously paid an aggregate gross amount of approximately $120,000 in IEEPA tariffs. The net effect that any tariff refunds may have on the Company’s condensed consolidated financial statements may be less than the gross amount of IEEPA tariffs as a result of a number of factors, including accommodations provided under cost- sharing arrangements with independent manufacturers, income taxes payable on refunds received, and other relevant factors. In addition, the amount and timing of receipt of refunds are subject to uncertainty as a result of potential changes in the CBP claims process, and further legal challenges to current and proposed tariff regimes. The Company will apply a gain contingency model in accordance with Accounting Standards Codification Topic 450, Contingencies, to account for potential refunds of previously paid tariffs. Under this model, a gain contingency is not recognized in the condensed consolidated financial statements until the gain is realized or realizable. If tariff refunds are ultimately received or otherwise become realizable, the Company will evaluate the appropriate accounting treatment under US GAAP based on the facts and circumstances existing at that time, including the nature of the recovery, applicable tax impacts, cost-sharing or other arrangements with independent manufacturers, and other relevant factors. The Company may also consider such developments in connection with future business decisions. As of June 30, 2026, and as of the date of this Quarterly Report, the Company has not recognized any receivable and corresponding reduction to cost of sales related to any IEEPA tariff refunds or related interest in its condensed consolidated financial statements. The Company continues to closely monitor these developments and assess the potential impact on its condensed consolidated financial statements. The Company was named as a defendant in two purported consumer class actions relating to alleged tariff-related pricing actions and potential governmental tariff reimbursements. The Company intends to defend these matters vigorously. Note 7. Derivative Instruments The Company enters into foreign currency forward or option contracts (derivative contracts) to manage foreign currency risk and certain of these derivative contracts are designated as cash flow hedges of forecasted sales (Designated Derivative Contracts). The Company also enters into derivative contracts that are not designated as cash flow hedges, to offset a portion of anticipated gains and losses on certain intercompany balances until the expected time of repayment (Non-Designated Derivative Contracts). Refer to Note 1, “General,” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report for further information related to accounting policies on the Company’s derivative contracts. As of June 30, 2026, the Company has the following Designated Derivative Contracts recorded at fair value in the condensed consolidated balance sheets and had no outstanding Non-Designated Derivative Contracts: Notional value $376,451 Fair value recorded in other current assets 10,977 As of March 31, 2026, the Company has the following derivative contracts recorded at fair value in the condensed consolidated balance sheets: Designated Derivative Contracts Non-Designated Derivative Contracts Total Notional value $337,183 $18,343 $355,526 Fair value recorded in other current assets 7,316 370 7,686 Table of Contents 16 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) The maximum amount of loss the Company would incur if derivative counterparties failed completely to perform according to the terms of the contracts is limited to the derivative gross fair value of contracts in asset positions. The non-performance risk of the Company and its counterparties did not have a material impact on the fair value of its derivative contracts. As of June 30, 2026, unrealized gains on derivative contracts recorded in accumulated other comprehensive loss (AOCL) are expected to be reclassified into net sales within the next nine months. Refer to Note 8, “Stockholders’ Equity,” for further information on the components of AOCL. The following table summarizes changes in unrealized gain (loss) on cash flow hedges included in AOCL, including the effect of Designated Derivative Contracts and the related income tax effects of unrealized gains or losses that are recorded in OCI in the condensed consolidated statements of comprehensive income: Three Months Ended June 30, 2026 2025 Beginning balance $5,564 $1,584 Gain (loss) recorded in OCI 3,931 (27,309) (Loss) gain reclassified into net sales (271) 535 Income tax (expense) benefit in OCI (882) 6,565 Ending balance $8,342 $(18,625) Note 8. Stockholders’ Equity Stock Repurchase Program (amounts in thousands, except share and per share data). The Company’s Board of Directors (Board) has approved a stock repurchase program which authorizes the Company to repurchase shares of its common stock in the open market or in privately negotiated transactions, subject to market conditions, applicable legal requirements, and other factors (collectively, the stock repurchase program). The Board last approved an additional authorization of $3,500,000 on May 20, 2026, to repurchase shares of the Company’s common stock under the same conditions as the prior stock repurchase program. As of June 30, 2026, the aggregate remaining authorization under the stock repurchase program is $4,711,416. The stock repurchase program does not obligate the Company to acquire any amount of common stock and may be suspended at any time at the Company’s discretion. The credit agreements governing the Company’s revolving credit facilities allow it to make stock repurchases under this program, so long as it does not exceed certain leverage ratios. As of June 30, 2026, the Company has not exceeded the stated leverage ratios, and no defaults have occurred under these credit agreements. Stock repurchase activity under the stock repurchase program was as follows: Three Months Ended June 30, 2026 2025 Total number of shares repurchased (1) 3,258,352 1,665,902 Weighted average price per share $103.79 $109.84 Dollar value of shares repurchased (2) (3) $338,186 $182,991 (1) All share repurchases were made pursuant to the stock repurchase program in open-market transactions. (2) May not calculate on rounded amounts. (3) The dollar value of shares repurchased excludes the cost of broker commissions, excise taxes, and other costs. Subsequent to June 30, 2026, through July 9, 2026, the Company repurchased 311,264 shares of its common stock at a weighted average price of $103.35 per share for $32,168. As of July 9, 2026, the Company had $4,679,248 remaining authorized for repurchases under the stock repurchase program. Table of Contents 17 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) Accumulated Other Comprehensive Loss. The components within AOCL, net of tax, recorded in the condensed consolidated balance sheets, are as follows: June 30, 2026 March 31, 2026 Unrealized gain on cash flow hedges $8,342 $5,564 Cumulative foreign currency translation loss (40,974) (41,483) Total $(32,632) $(35,919) Note 9. Basic and Diluted Shares The reconciliation of basic to diluted weighted-average common shares outstanding was as follows: Three Months Ended June 30, 2026 2025 Basic 138,263 149,344 Dilutive effect of equity awards 296 291 Diluted 138,559 149,635 Excluded Time-Based Restricted Stock Units 11 60 Long-Term Incentive Plan Performance-Based Stock Units 253 155 Deferred Non-Employee Director Equity Awards 6 5 Employee Stock Purchase Plan 1 4 Excluded Awards. The equity awards excluded from the calculation of the dilutive effect may be excluded due to one of the following: (1) the shares were antidilutive or (2) the necessary conditions had not been satisfied for the shares to be deemed issuable based on the Company’s performance for the relevant performance period. The number of shares stated for each of these excluded awards is the maximum number of shares issuable pursuant to these awards. For those awards subject to the achievement of performance criteria, the actual number of shares to be issued pursuant to such awards will be based on Company performance in future periods, net of forfeitures, and may be materially lower than the number of shares presented, which could result in a lower dilutive effect. Refer to Note 9, “Stock-Based Compensation,” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report for further information on the Company’s equity incentive plans. Note 10. Reportable Operating Segments There have been no changes to the Company’s reportable operating segments, the measure of segment profit or loss, or the basis of measurement from those disclosed in Note 13, “Reportable Operating Segments,” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report. Accordingly, information reported to the Chief Operating Decision Maker (CODM), who is the Principal Executive Officer (PEO), continues to be organized into three reportable operating segments: HOKA brand, UGG brand, and Other brands. The CODM continues to evaluate reportable operating segment performance and allocate resources based on net sales, gross profit as a percentage of net sales (gross margin), and income from operations, which includes costs directly attributable to each reportable operating segment that are regularly reviewed by the CODM. Segment income from operations excludes unallocated enterprise and shared brand expenses, as well as total other income, net. There is no inter-segment sales for any period presented. Table of Contents 18 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) The accounting policies applicable to the Company’s reportable operating segments are consistent with those described in Note 1, “General,” in the Company’s consolidated financial statements in Part IV of the 2026 Annual Report. The CODM does not regularly review total assets or capital expenditures by reportable operating segment. Reportable operating segment information, with a reconciliation to the condensed consolidated statements of comprehensive income, was as follows: Three Months Ended June 30, 2026 HOKA UGG Other Brands Total Net sales $703,538 $278,049 $37,944 $1,019,531 Less: Cost of sales 301,124 125,297 17,947 444,368 Segment gross profit 402,414 152,752 19,997 575,163 Segment gross margin 57.2% 54.9% 52.7% 56.4% Less: Payroll and related costs 36,148 36,096 4,758 77,002 Advertising, marketing, and promotion expenses 62,248 22,810 7,042 92,100 Rent and occupancy 12,919 19,296 4 32,219 Depreciation and other related costs (1) 2,662 3,382 163 6,207 Other segment items (2) 32,969 17,154 1,488 51,611 Segment SG&A expenses 146,946 98,738 13,455 259,139 Segment income from operations $255,468 $54,014 $6,542 $316,024 Segment operating margin (3) 36.3% 19.4% 17.2% 31.0% Three Months Ended June 30, 2025 HOKA UGG Other Brands (4) Total Net sales $653,119 $265,092 $46,327 $964,538 Less: Cost of sales 276,172 125,768 24,692 426,632 Segment gross profit 376,947 139,324 21,635 537,906 Segment gross margin 57.7% 52.6% 46.7% 55.8% Less: Payroll and related costs 28,508 32,865 4,532 65,905 Advertising, marketing, and promotion expenses 55,988 19,568 6,208 81,764 Rent and occupancy 9,046 17,217 38 26,301 Depreciation and other related costs (1) 1,473 2,957 39 4,469 Other segment items (2) 28,404 12,734 3,065 44,203 Segment SG&A expenses 123,419 85,341 13,882 222,642 Segment income from operations $253,528 $53,983 $7,753 $315,264 Segment operating margin (3) 38.8% 20.4% 16.7% 32.7% (1) Depreciation and other related costs generally include depreciation of property and equipment, amortization and impairment of intangible assets or other long-lived assets, accretion, loss on disposal of assets, and other miscellaneous costs. (2) Other segment items are comprised of other SG&A expenses, which primarily include credit card fees, sales commissions, materials and supplies, travel, certain 3PL service fees, and other miscellaneous expenses. (3) Operating margin is defined as income from operations divided by net sales. (4) The Other brands reportable operating segment for the prior period includes financial results for the phase out of the Koolaburra brand and AHNU brand. Refer to the section titled “Reportable Operating Segments,” in Note 1, “General,” of the Company’s consolidated financial statements in the 2026 Annual Report for further information. Table of Contents 19 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended June 30, 2026, and 2025 (amounts in thousands, except per share data) A reconciliation of reportable segment income from operations to condensed consolidated statements of comprehensive income was as follows: Three Months Ended June 30, 2026 2025 Segment income from operations $316,024 $315,264 Unallocated enterprise and shared brand expenses (1) (160,723) (149,977) Total other income, net 13,749 17,779 Consolidated income before income taxes $169,050 $183,066 (1) To the extent that consolidated SG&A expenses exceed reportable operating segment SG&A expenses, they are recorded in unallocated enterprise and shared brand expenses, which are costs that are managed centrally and not specific to any one brand. Table of Contents 20