<SEC-DOCUMENT>0001193125-17-359611.txt : 20171204
<SEC-HEADER>0001193125-17-359611.hdr.sgml : 20171204
<ACCEPTANCE-DATETIME>20171204085232
ACCESSION NUMBER:		0001193125-17-359611
CONFORMED SUBMISSION TYPE:	DFRN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20171204
DATE AS OF CHANGE:		20171204
EFFECTIVENESS DATE:		20171204

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DECKERS OUTDOOR CORP
		CENTRAL INDEX KEY:			0000910521
		STANDARD INDUSTRIAL CLASSIFICATION:	RUBBER & PLASTICS FOOTWEAR [3021]
		IRS NUMBER:				953015862
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		DFRN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36436
		FILM NUMBER:		171235774

	BUSINESS ADDRESS:	
		STREET 1:		250 COROMAR DRIVE
		CITY:			GOLETA
		STATE:			CA
		ZIP:			93117
		BUSINESS PHONE:		8059677611

	MAIL ADDRESS:	
		STREET 1:		250 COROMAR DRIVE
		CITY:			GOLETA
		STATE:			CA
		ZIP:			93117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DECKERS FOOTWEAR CORP
		DATE OF NAME CHANGE:	19930811

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARCATO CAPITAL MANAGEMENT LP
		CENTRAL INDEX KEY:			0001541996
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFRN14A

	BUSINESS ADDRESS:	
		STREET 1:		FOUR EMBARCADERO CENTER
		STREET 2:		SUITE 2100
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
		BUSINESS PHONE:		415-796-6350

	MAIL ADDRESS:	
		STREET 1:		FOUR EMBARCADERO CENTER
		STREET 2:		SUITE 2100
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARCATO CAPITAL MANAGEMENT LLC
		DATE OF NAME CHANGE:	20120209
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFRN14A
<SEQUENCE>1
<FILENAME>d505472ddfrn14a.htm
<DESCRIPTION>DFRN14A
<TEXT>
<HTML><HEAD>
<TITLE>DFRN14A</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No. 2) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Filed by a Party other than the
Registrant&nbsp;&nbsp;&#9746;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Preliminary Proxy Statement</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitive Proxy Statement</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitive Additional Materials</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Soliciting material Pursuant to &#167;240.14a-12</TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>Deckers
Outdoor Corporation </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MARCATO INTERNATIONAL MASTER FUND, LTD. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MARCATO CAPITAL MANAGEMENT LP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MCM ENCORE IM LLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MARCATO ENCORE MASTER FUND, LTD. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RICHARD T. MCGUIRE III </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>KIRSTEN J. FELDMAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STEVE
FULLER </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNE WATERMAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check the appropriate box): </P>
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">No fee required.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title of each class of securities to which transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">2)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Aggregate number of securities to which transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">3)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing
fee is calculated and state how it was determined):</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">4)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Proposed maximum aggregate value of transaction:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">5)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Total fee paid:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Fee paid previously with preliminary materials.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amount Previously Paid:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">2)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Form, Schedule or Registration Statement No.:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">3)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filing Party:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">4)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date Filed:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2017 ANNUAL MEETING OF STOCKHOLDERS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OF </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DECKERS OUTDOOR
CORPORATION </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUPPLEMENT TO PROXY STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OF </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MARCATO INTERNATIONAL
MASTER FUND, LTD. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MARCATO CAPITAL MANAGEMENT LP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MCM ENCORE MASTER FUND, LTD. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RICHARD T. MCGUIRE III </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>KIRSTEN J. FELDMAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STEVE
FULLER </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNE WATERMAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This proxy statement supplement and accompanying <B><I>GOLD</I></B> proxy card are being furnished to stockholders of Deckers Outdoor
Corporation, a Delaware corporation (&#147;Deckers&#148; or the &#147;Company&#148;) by Marcato International Master Fund, Ltd. (&#147;Marcato International&#148;), Marcato Capital Management LP (&#147;Marcato Capital&#148;), MCM Encore IM LLC
(&#147;Marcato Encore LLC&#148;), Marcato Encore Master Fund, Ltd. (&#147;Marcato Encore Fund&#148;) and Richard T. McGuire III (collectively, &#147;Marcato,&#148; &#147;we,&#148; &#147;our&#148; or &#147;us&#148;) and their nominees listed below in
connection with the solicitation of proxies from the holders (the &#147;Stockholders&#148;) of common stock, par value $0.01 per share, of the Company (the &#147;Common Stock&#148;), in connection with the 2017 Annual Meeting of Stockholders of the
Company (including any and all adjournments, postponements, continuations or reschedulings thereof, or any other meeting of Stockholders of the Company held in lieu thereof, the &#147;2017 Annual Meeting&#148;), which is currently scheduled to be
held on December&nbsp;14, 2017, at 8:00 a.m. Pacific Time. The meeting will be held at the Company&#146;s corporate headquarters located at 250 Coromar Drive, Goleta, California 93117. The Company has set the close of business on October&nbsp;16,
2017 as the record date for determining Stockholders entitled to notice of and to vote at the 2017 Annual Meeting (the &#147;Record Date&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">We are asking you to vote on the <B><I>GOLD</I></B> proxy card at the 2017 Annual Meeting as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<B>FOR</B>&#148; the election of Kirsten J. Feldman, Steve Fuller and Anne Waterman (collectively, the &#147;Nominees&#148;) to serve as directors on the Board of Directors of the Company (the &#147;Board&#148;)
until the 2018 annual meeting of Stockholders of the Company (including any and all adjournments, postponements, continuations or reschedulings thereof, or any other meeting of Stockholders held in lieu thereof) or until their respective successors
are duly elected and qualified, and grant authority to vote for the Company&#146;s nominees other than Karyn O. Barsa, John M. Gibbons and John G. Perenchio; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<B>FOR</B>&#148; the repeal of each provision of, or amendment to, the Amended and Restated Bylaws of the Company adopted by the Board subsequent to May&nbsp;24, 2016 and prior to the 2017 Annual Meeting, without
the approval of the Stockholders; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<B>FOR</B>&#148; the ratification of the appointment of KPMG as the Company&#146;s independent registered public accounting firm for fiscal year ending March&nbsp;31, 2018; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top">for the approval, on an advisory basis, of a frequency of &#147;<B>ONE YEAR</B>&#148; for future advisory votes on the Company&#146;s executive compensation program; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<B>FOR</B>&#148; the approval, on a <FONT STYLE="white-space:nowrap">non-binding</FONT> advisory basis, of the compensation of the Company&#146;s named executive officers, as disclosed in the Company&#146;s proxy
statement for the 2017 Annual Meeting. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">These proposals are more fully described in the definitive proxy statement filed by
Marcato with the Securities and Exchange Commission (the &#147;SEC&#148;) on November&nbsp;2, 2017. We are furnishing you this supplement to provide an update with respect to certain information included in our definitive proxy statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On December&nbsp;4, 2017, Marcato International submitted to the Issuer an update and supplement to its Notice of Stockholder Proposal and
Nomination of Candidates for Election to the Board of Directors to notify the Issuer of Marcato International&#146;s withdrawal of Deborah M. Derby, Matthew P. Hepler, Robert D. Huth, </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Jan&nbsp;Rogers Kniffen, Mitchell A. Kosh and Nathaniel J. Lipman as Nominees. A copy of such update and supplement is filed herewith as Exhibit L and is incorporated herein by reference. Kirsten
J. Feldman, Steve Fuller and Anne Waterman continue to be Marcato&#146;s Nominees for election to the Board at the 2017 Annual Meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, because our Nominees, if elected, would constitute a minority of the Board, under the proxy rules, we may solicit proxies in
support of our Nominees and also seek authority to vote for all of the Company&#146;s nominees other than those Company nominees we specify. This allows a Stockholder who desires to vote for up to a full complement of nine director nominees to use
the <B><I>GOLD</I></B> proxy card to vote for the Nominees as well as the Company&#146;s nominees for whom we are seeking authority to vote other than those nominees as to which the Stockholder does not seek authority to vote and will not exercise
authority to vote. The Board consists of nine (9)&nbsp;directors. As discussed above, we have determined to nominate a slate of three (3)&nbsp;Nominees, Kirsten J. Feldman, Steve Fuller and Anne Waterman. We are also seeking authority to vote for up
to all of the Company&#146;s nominees other than Karyn O. Barsa, John M. Gibbons and John G. Perenchio. As a result, should a Stockholder so authorize us on the <B><I>GOLD</I></B> proxy card, we would cast votes for our three (3)&nbsp;Nominees and
for between none and six (6)&nbsp;of the Company&#146;s nominees other than those Company nominees we specify. None of the Company&#146;s nominees for whom we seek authority to vote has agreed to serve with any of our Nominees, if elected, and there
is no assurance that any of the Company&#146;s nominees will serve as directors if any or all of our Nominees are elected to the Board. You should refer to the Company&#146;s proxy statement for the 2017 Annual Meeting for the names, backgrounds,
qualifications and other information concerning the Company&#146;s nominees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For details regarding the qualifications of the Nominees as
well as our reasons for making this solicitation, please see our definitive proxy statement dated November&nbsp;2, 2017, previously filed with the SEC and furnished to Stockholders. If you need another copy of our definitive proxy statement or this
supplement, please contact D.F. King&nbsp;&amp; Co., Inc., which is assisting us, at its address and toll-free numbers listed below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This
supplement is dated December&nbsp;4, 2017, and is first being furnished to Stockholders on or about December&nbsp;4, 2017. This supplement should be read in conjunction with Marcato&#146;s definitive proxy statement filed with the SEC on, and first
furnished to stockholders of the Company on or about, November&nbsp;2, 2017, and as previously amended on November&nbsp;16, 2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WE
URGE YOU TO SUBMIT YOUR VOTE ON THE ENCLOSED UPDATED </B><B><I><U>GOLD</U></I></B><B><U> </U></B><B>PROXY CARD </B>TO VOTE (I) &#147;<B>FOR</B>&#148; KIRSTEN J. FELDMAN FOR DIRECTOR; (II) &#147;<B>FOR</B>&#148; STEVE FULLER FOR DIRECTOR; (III)
&#147;<B>FOR</B>&#148; ANNE WATERMAN FOR DIRECTOR; (IV)&nbsp;TO GRANT AUTHORITY TO VOTE FOR THE PERSONS WHO HAVE BEEN NOMINATED BY THE COMPANY TO SERVE AS DIRECTORS, OTHER THAN KARYN O. BARSA, JOHN M. GIBBONS AND JOHN G. PERENCHIO; (V)
&#147;<B>FOR</B>&#148; THE REPEAL OF EACH PROVISION OF OR AMENDMENT TO THE BYLAWS ADOPTED BY THE BOARD SUBSEQUENT TO MAY&nbsp;24, 2016 AND PRIOR TO THE 2017 ANNUAL MEETING, WITHOUT THE APPROVAL OF THE STOCKHOLDERS; (VI) &#147;<B>FOR</B>&#148; THE
RATIFICATION OF THE APPOINTMENT OF KPMG AS THE COMPANY&#146;S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR ENDED MARCH&nbsp;31, 2018; (VII) FOR THE APPROVAL, ON AN ADVISORY BASIS, OF A FREQUENCY OF &#147;<B>ONE YEAR</B>&#148; FOR
FUTURE ADVISORY VOTES ON THE COMPANY&#146;S EXECUTIVE COMPENSATION; (VIII) &#147;<B>FOR</B>&#148; THE APPROVAL, ON A <FONT STYLE="white-space:nowrap">NON-BINDING</FONT> ADVISORY BASIS, OF THE COMPENSATION OF THE COMPANY&#146;S NAMED EXECUTIVE
OFFICERS AS DISCLOSED IN THE COMPANY&#146;S PROXY STATEMENT FOR THE 2017 ANNUAL MEETING; AND (IX)&nbsp;IN THE PROXY HOLDER&#146;S DISCRETION AS TO OTHER MATTERS THAT MARCATO DOES NOT KNOW, A REASONABLE TIME BEFORE THE SOLICITATION, ARE TO BE
PRESENTED AT THE 2017 ANNUAL MEETING. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>We have updated the </B><B><I>GOLD</I></B><B> proxy card to reflect Marcato&#146;s updated slate
of Nominees and the discretionary authority being sought by Marcato to cast votes for certain of the Company&#146;s nominees, as described above. If you have already cast your vote for Kirsten J. Feldman, Steve Fuller and/or Anne Waterman on the
previously circulated form of </B><B><I>GOLD</I></B><B> proxy card, your shares will be voted for such </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>
Nominee(s) at the 2017 Annual Meeting. However, if you do not resubmit your vote on the </B><B><I>GOLD</I></B><B> proxy card accompanying this proxy statement supplement, your shares will not be
voted for any Company nominee for which Marcato is seeking discretionary authority to vote. THEREFORE, EVEN IF YOU HAVE ALREADY SENT A PROXY CARD TO DECKERS OR VOTED ON THE PREVIOUSLY CIRCULATED FORM OF </B><B><I>GOLD</I></B><B> PROXY CARD, WE URGE
YOU TO RESUBMIT YOUR VOTE ON THE </B><B><I>GOLD</I></B><B> PROXY CARD ACCOMPANYING THIS PROXY STATEMENT SUPPLEMENT. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THIS SOLICITATION IS BEING MADE
BY MARCATO AND NOT ON BEHALF OF THE BOARD OF DIRECTORS OR MANAGEMENT OF THE COMPANY. EXCEPT AS SET FORTH IN THIS SUPPLEMENT AND OUR PROXY STATEMENT, WE DO NOT KNOW OF ANY OTHER MATTERS TO BE PRESENTED FOR APPROVAL BY THE STOCKHOLDERS AT THE 2017
ANNUAL MEETING. IF, HOWEVER, MARCATO LEARNS OF ANY OTHER PROPOSALS MADE AT A REASONABLE TIME BEFORE THE 2017 ANNUAL MEETING, MARCATO WILL EITHER FURTHER SUPPLEMENT ITS PROXY STATEMENT AND PROVIDE STOCKHOLDERS WITH AN OPPORTUNITY TO VOTE BY PROXY
DIRECTLY ON SUCH MATTERS, OR WILL NOT EXERCISE DISCRETIONARY AUTHORITY WITH RESPECT THERETO. IF OTHER MATTERS ARE PROPERLY PRESENTED THEREAFTER, THE PERSONS NAMED AS PROXIES IN THE ENCLOSED <B><I><U>GOLD</U></I></B> PROXY CARD WILL VOTE THE SHARES
OF COMMON STOCK REPRESENTED THEREBY IN ACCORDANCE WITH THEIR DISCRETION PURSUANT TO THE AUTHORITY GRANTED IN THE PROXY. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WE URGE YOU TO SIGN, DATE AND
RETURN THE ENCLOSED <B><I><U>GOLD</U></I></B> PROXY CARD TODAY TO VOTE &#147;<B>FOR</B>&#148; THE ELECTION OF THE NOMINEES AND TO GRANT AUTHORITY TO VOTE FOR THE COMPANY&#146;S NOMINEES OTHER THAN KARYN O. BARSA, JOHN M. GIBBONS AND JOHN G.
PERENCHIO AND &#147;<B>FOR</B>&#148; THE REPEAL OF EACH PROVISION OF OR AMENDMENT TO THE BYLAWS ADOPTED BY THE BOARD SUBSEQUENT TO MAY&nbsp;24, 2016 AND PRIOR TO THE 2017 ANNUAL MEETING, WITHOUT THE APPROVAL OF THE STOCKHOLDERS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PLEASE DO NOT RETURN ANY PROXY CARD YOU MAY RECEIVE FROM THE COMPANY OR OTHERWISE AUTHORIZE A PROXY TO VOTE YOUR SHARES OF COMMON STOCK AT THE 2017 ANNUAL
MEETING, NOT EVEN AS A PROTEST VOTE. IF YOU HAVE ALREADY SENT A PROXY CARD TO THE COMPANY OR OTHERWISE AUTHORIZED A PROXY TO VOTE YOUR SHARES OF COMMON STOCK AT THE 2017 ANNUAL MEETING, IT IS NOT TOO LATE TO CHANGE YOUR VOTE. TO REVOKE YOUR PRIOR
PROXY AND CHANGE YOUR VOTE, SIMPLY SIGN AND RETURN THE ENCLOSED <B><I><U>GOLD</U></I></B><U> </U>PROXY CARD IN THE POSTAGE-PAID ENVELOPE PROVIDED. ONLY YOUR LATEST DATED PROXY WILL BE COUNTED. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Important Notice Regarding the Availability of Proxy Materials for the 2017 Annual Meeting: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>This Supplement and the Definitive Proxy Statement are available at no charge at: www.fcrvote.com/deck. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IMPORTANT VOTING INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Your vote is important, no matter how many or how few shares of Common Stock you own. Please sign, date and return the enclosed
<B><I>GOLD</I></B> proxy card today to vote &#147;<B>FOR</B>&#148; the election of the Nominees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If your shares of Common Stock are held
in your own name, please authorize a proxy to vote by signing and returning the enclosed <B><I>GOLD</I></B> proxy card in the postage-paid envelope provided or by instructing us by telephone or via the Internet as to how you would like your shares
of Common Stock voted (instructions are on your <B><I>GOLD</I></B> proxy card). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If you hold your shares of Common Stock in &#147;street
name&#148; with a bank, brokerage firm, dealer, trust company or other institution or nominee, only they can exercise your right to vote with respect to your shares of Common Stock and only upon receipt of your specific instructions. Accordingly, it
is critical that you promptly give instructions to your bank, brokerage firm, dealer, trust company or other institution or nominee to ensure that a <B><I>GOLD</I></B> proxy card is submitted on your behalf. Please follow the instructions to
authorize a proxy to vote on the enclosed <B><I>GOLD</I></B> proxy card. If your bank, brokerage firm, dealer, trust company or other nominee provides for voting instructions to be delivered to them by Internet or telephone, instructions will be
included with the enclosed <B><I>GOLD</I></B> proxy card. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If you do not plan to attend the 2017 Annual Meeting, we encourage you to read
this supplement and our proxy statement and date, sign and return your completed <B><I>GOLD</I></B><B> </B>proxy card prior to the 2017 Annual Meeting so that your shares of Common Stock will be represented and voted in accordance with your
instructions. Even if you plan to attend the 2017 Annual Meeting in person, we recommend that you authorize a proxy to vote your shares of Common Stock in advance as described above so that your vote will be counted if you later decide not to attend
the 2017 Annual Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">PLEASE DO NOT RETURN ANY PROXY CARD YOU MAY RECEIVE FROM THE COMPANY OR OTHERWISE AUTHORIZE A PROXY TO VOTE YOUR
SHARES OF COMMON STOCK AT THE 2017 ANNUAL MEETING, NOT EVEN AS A PROTEST VOTE. IF YOU HAVE ALREADY SENT A PROXY CARD TO THE COMPANY OR OTHERWISE AUTHORIZED A PROXY TO VOTE YOUR SHARES OF COMMON STOCK AT THE 2017 ANNUAL MEETING, IT IS NOT TOO LATE TO
CHANGE YOUR VOTE. TO REVOKE YOUR PRIOR PROXY AND CHANGE YOUR VOTE, SIMPLY DATE, SIGN AND RETURN THE ENCLOSED <B><I><U>GOLD</U></I></B> PROXY CARD IN THE POSTAGE-PAID ENVELOPE PROVIDED OR FOLLOW THE INSTRUCTIONS ON YOUR <B><I><U>GOLD</U></I></B>
PROXY CARD TO VOTE BY TELEPHONE OR VIA THE INTERNET. ONLY YOUR LATEST DATED PROXY WILL BE COUNTED. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>D.F. King&nbsp;&amp; Co., Inc.
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 Wall Street, 22nd Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10005 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Banks and
Brokers Call Collect: (212) <FONT STYLE="white-space:nowrap">269-5550</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">All Others Call Toll-free: (800) <FONT
STYLE="white-space:nowrap">761-6521</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Email: DECKERS@dfking.com </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL" ALIGN="center"><B>GOLD PROXY CARD </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>YOUR VOTE IS IMPORTANT. PLEASE VOTE TODAY. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>We
encourage you to take advantage of Internet or telephone voting. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Both are available 24 hours a day, 7 days a week. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Internet and telephone voting is available through 11:59 p.m., Eastern Time, on December 13, 2017. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000"><B>VOTE BY INTERNET</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000"><B>WWW.FCRVOTE.COM/DECK</B></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Use the Internet to transmit your voting instructions until 11:59 p.m., Eastern Time, on December 13, 2017. Have your proxy card in hand
when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>OR</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000"><B>VOTE BY TELEPHONE</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000"><B>1-866-859-2518</B></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Use any touch-tone telephone to transmit your voting instructions until 11:59 p.m., Eastern Time, on December 13, 2017. Have your proxy
card in hand when you call and then follow the instructions.</P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>OR</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
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<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000"><B>VOTE BY MAIL</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-size:7pt">Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided to: <B>First Coast Results, Inc., P.O. Box 3672, Ponte Vedra </B><B>Beach, FL
32004-9911.</B></FONT></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">If you vote your proxy by Internet or by telephone, you do NOT need to mail back your proxy card. <B>Your Internet or telephone vote
authorizes the named </B><B>proxies to vote your shares in the same manner as if you marked, signed and returned your proxy card.</B></P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-RIGHT:1.00pt solid #000000; BORDER-BOTTOM:1.00pt solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>CONTROL NUMBER</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B></B><FONT STYLE="font-family:WINGDINGS; font-size:8pt" COLOR="#000000">&#234;</FONT><FONT STYLE="font-family:ARIAL"><B></B></FONT><B>&nbsp;&nbsp;&nbsp;
&nbsp;If submitting a proxy by mail, please sign and date the card below and fold and detach card at perforation before mailing.&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-family:WINGDINGS; font-size:8pt" COLOR="#000000">&#234;</FONT><FONT
STYLE="font-family:ARIAL"><B></B></FONT><B> </B></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px dashed #000000">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-size:11pt"><B>Deckers Outdoor Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><B>GOLD&nbsp;PROXY&nbsp;CARD</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:6pt; font-family:ARIAL"><B>MARCATO RECOMMENDS THAT YOU VOTE &#147;FOR ALL&#148; OF THE NOMINEES SET FORTH IN PROPOSAL 1:</B> </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">Proposal&nbsp;1:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Marcato&#146;s Proposal to Elect Directors.</TD>
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<TD VALIGN="bottom">Nominees:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="7"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">(1) Kirsten J. Feldman (2)&nbsp;Steve Fuller (3) Anne Waterman</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>FOR ALL </B>&nbsp;&nbsp;<FONT STYLE="font-family:Times New Roman">&#10065;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>WITHHOLD&nbsp;ALL&nbsp;</B>&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family:Times New Roman">&#10065;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>FOR ALL EXCEPT THE NOMINEE(S) WRITTEN </B><B>BELOW </B>&nbsp;&nbsp;<FONT STYLE="font-family:Times New Roman">&#10065;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:6pt; font-family:ARIAL">Marcato intends to use this proxy to vote (i) FOR Kirsten J. Feldman, Steve Fuller and Anne Waterman (collectively, the
&#147;Nominees&#148;) and (ii) FOR each of the persons who have been nominated by the Company to serve as directors other than Karyn&nbsp;O. Barsa, John M. Gibbons and John&nbsp;G. Perenchio. Marcato is NOT seeking authority and WILL NOT execute any
authority to vote for Karyn O. Barsa, John M. Gibbons and John G. Perenchio. There is no assurance that any of the Company&#146;s nominees will serve as directors if any or all of the Nominees are elected to the Board. You should refer to the proxy
statement distributed by the Company for the names, backgrounds, qualifications and other information concerning the Company&#146;s nominees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:6pt; font-family:ARIAL"><B>NOTE: IF YOU DO NOT
WISH FOR YOUR SHARES TO BE VOTED &#147;FOR&#148; A PARTICULAR NOMINEE, MARK THE &#147;FOR ALL EXCEPT THE NOMINEES WRITTEN BELOW&#148; BOX AND WRITE THE NAME(S) OF SUCH NOMINEE(S) YOU DO NOT SUPPORT ON THE LINE BELOW. YOU MAY ALSO WITHHOLD AUTHORITY
TO VOTE FOR THE PERSONS WHO HAVE BEEN NOMINATED BY THE COMPANY TO SERVE AS DIRECTORS OTHER THAN KARYN O. BARSA, JOHN M. GIBBONS AND JOHN G. PERENCHIO BY WRITING THE NAMES OF SUCH OF THE COMPANY&#146;S NOMINEES BELOW. YOUR SHARES WILL THEN BE VOTED
FOR THE REMAINING COMPANY NOMINEE(S). </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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<TD VALIGN="bottom"> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:ARIAL"><B>MARCATO RECOMMENDS THAT YOU VOTE &#147;FOR&#148; PROPOSAL 2:</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-size:6pt"><B>FOR</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-size:6pt"><B>AGAINST</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-size:6pt"><B>ABSTAIN</B></FONT></TD></TR>
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<TD HEIGHT="8"></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-size:7pt">Proposal 2. To approve Marcato&#146;s proposal to repeal each provision of, or amendment to, the Amended and Restated Bylaws of the Company (the &#147;Bylaws&#148;) adopted by the Board subsequent to
May&nbsp;24, 2016 and prior to the approval of this resolution at the 2017 Annual Meeting, without the approval of the Stockholders.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:6pt"><B>MARCATO RECOMMENDS THAT YOU VOTE &#147;FOR&#148; PROPOSAL 3:</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-size:6pt"><B>FOR</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-size:6pt"><B>AGAINST</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-size:6pt"><B>ABSTAIN</B></FONT></TD></TR>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"><FONT STYLE="font-size:7pt">Proposal 3. To approve the ratification of the selection of KPMG LLP as the Company&#146;s independent registered public accounting firm for fiscal year ending March&nbsp;31, 2018.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD></TR>
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<TD VALIGN="bottom"><B>MARCATO RECOMMENDS THAT YOU VOTE FOR A FREQUENCY OF &#147;ONE YEAR&#148; ON PROPOSAL 4:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>1&nbsp;YEAR</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>2&nbsp;YEARS</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>3 YEARS</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>ABSTAIN</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-size:7pt">Proposal 4. To approve, on an advisory basis, the frequency of future advisory votes on the Company&#146;s executive compensation program.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:6pt"><B>MARCATO RECOMMENDS THAT YOU VOTE &#147;FOR&#148; PROPOSAL 5:</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-size:6pt"><B>FOR</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:6pt"><B>AGAINST</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:6pt"><B>ABSTAIN</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"><FONT STYLE="font-size:7pt">Proposal 5. To approve, on a <FONT STYLE="white-space:nowrap">non-binding</FONT> advisory basis, the compensation of the Company&#146;s named executive officers, as disclosed in the Company&#146;s
proxy statement for the 2017 Annual Meeting.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></P></TD>
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<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"></TD>
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<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:ARIAL">Date</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:ARIAL">Signature (Capacity)</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:ARIAL">Signature (If jointly held)</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Please sign exactly as your name(s) is (are) shown on the share certificate to which the proxy applies. When shares are held by joint tenants, both should sign. When signing as an attorney, executor, administrator,
trustee or guardian, please give full title as such. If a corporation, please sign in full corporate name by President or other authorized officer. If a partnership, please sign in partnership name by authorized person.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-size:7pt">PLEASE SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:ARIAL" ALIGN="center"><B>SIGN, DATE AND MAIL YOUR PROXY TODAY, UNLESS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:ARIAL" ALIGN="center"><B>YOU HAVE VOTED BY INTERNET OR TELEPHONE. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:ARIAL" ALIGN="center"><B>IF YOU HAVE NOT VOTED BY INTERNET OR TELEPHONE, PLEASE DATE, MARK, SIGN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:ARIAL" ALIGN="center"><B>AND RETURN THIS PROXY PROMPTLY. YOUR VOTE MUST BE RECEIVED NO LATER THAN THE&nbsp;DATE OF THE 2017 ANNUAL MEETING TO BE INCLUDED IN THE VOTING
RESULTS.</B> </P> <P STYLE="margin-top:48pt; margin-bottom:0pt; font-size:11.5pt; font-family:ARIAL" ALIGN="center"><B>The proxy statement, as well as other proxy materials distributed by the participants, are available free of charge online at
www.fcrvote.com/DECK. </B></P> <P STYLE="margin-top:48pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>(CONTINUED AND TO BE SIGNED AND DATED ON THE REVERSE SIDE )</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8.5pt; font-family:ARIAL" ALIGN="center"><B></B><FONT STYLE="font-family:WINGDINGS; font-size:8.5pt" COLOR="#000000">&#234;</FONT><FONT STYLE="font-family:ARIAL"><B></B></FONT><B>&nbsp;&nbsp;
&nbsp;&nbsp;If submitting a proxy by mail, please sign and date the card on reverse and fold and detach card at perforation before mailing.&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-family:WINGDINGS; font-size:8.5pt" COLOR="#000000">&#234;</FONT><FONT
STYLE="font-family:ARIAL"><B></B></FONT><B> </B></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px dashed #000000">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-size:10pt"><B>DECKERS OUTDOOR CORPORATION</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><B>GOLD PROXY CARD</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>ANNUAL MEETING OF STOCKHOLDERS</B><B> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>DECEMBER 14, 2017</B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>THIS PROXY IS SOLICITED ON
BEHALF OF MARCATO INTERNATIONAL MASTER FUND, LTD., MARCATO CAPITAL MANAGEMENT LP, MCM ENCORE IM LLC, MARCATO ENCORE MASTER FUND, LTD., RICHARD T. MCGUIRE III, KIRSTEN J. FELDMAN, STEVE FULLER AND ANNE WATERMAN (collectively &#147;Marcato&#148;)
AND&nbsp;NOT ON BEHALF OF THE BOARD OF DIRECTORS OF DECKER OUTDOOR CORPORATION (the &#147;Board&#148;) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The undersigned hereby appoints Richard T. McGuire,
Matthew P. Hepler, Edward T. McCarthy and Richard M. Brand, and each of them, with full power of substitution, as proxies for the undersigned and authorizes them to represent and vote, as designated, all of the shares of common stock of Deckers
Outdoor Corporation, a Delaware corporation (&#147;Deckers&#148;), that the undersigned would be entitled to vote if personally present at the 2017 Annual Meeting of Stockholders of Deckers, including any adjournments or postponements thereof or any
special meeting that may be called in lieu thereof (the &#147;2017 Annual Meeting&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>If this proxy is signed and returned, it will be voted in accordance
with your instructions. If you do not specify how the proxy should be voted, this proxy will be voted, on Proposal 1, &#147;FOR&#148; the election of Kirsten J. Feldman, Steve Fuller and Anne Waterman and the candidates nominated by Deckers other
than Karyn O. Barsa, John M. Gibbons and John G. Perenchio (except your proxy will not be voted for the election of any candidate(s) whose name(s) is written on the line provided under Proposal 1), &#147;FOR&#148; Proposal 2, &#147;FOR&#148;
Proposal 3, for &#147;ONE YEAR&#148; on Proposal 4 and &#147;FOR&#148; Proposal 5. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>CONTINUED, AND TO BE SIGNED AND DATED ON THE REVERSE SIDE.
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