#1logitech Q1 Fiscal Year 2024 Financial Results July 24, 2023 JOURS COOK De SOPO Croma#2Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding our preliminary financial results for the three months ended June, 2023; full year and first half Fiscal Year 2024 outlook for sales and non-GAAP operating income; growth expectations; non-GAAP gross margin; business strategy, including but not limited to design led engineering and product innovation, manufacturing and operations, global go-to-market capabilities, and capital allocation strategy; trends in our business; and related assumptions. These statements are subject to risks and uncertainties that may cause actual results and events to differ materially, including without limitation: macroeconomic and geopolitical conditions and other factors and their impact, for example changes in inflation levels and monetary policies; our expectations regarding our expense reduction efforts, including the timing thereof; changes in secular trends that impact our business; if our product offerings, marketing activities and investment prioritization decisions do not result in the sales, profitability or profitability growth we expect, or when we expect it; if we fail to innovate and develop new products in a timely and cost-effective manner for our new and existing product categories; if we do not successfully execute on our growth opportunities or our growth opportunities are more limited than we expect; the effect of demand variability, supply shortages and other supply chain challenges; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if we are not able to maintain and enhance our brands; if our products and marketing strategies fail to separate our products from competitors' products; if we do not efficiently manage our spending; our expectations regarding our restructuring efforts, including the timing thereof; if there is a deterioration of business and economic conditions in one or more of our sales regions or product categories, or significant fluctuations in exchange rates; changes in trade regulations, policies and agreements and the imposition of tariffs that affect our products or operations and our ability to mitigate; if we do not successfully execute on strategic acquisitions and investments; risks associated with acquisitions; and the effect of changes to our effective income tax rates. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in Logitech's periodic filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, and our subsequent reports filed with the SEC, available at www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements to reflect new information or events or circumstances occurring after the date of this presentation. Non-GAAP Financial Measures To facilitate comparisons to Logitech's historical results, we have included non-GAAP adjusted measures in this presentation, which exclude share-based compensation expense, amortization of intangible assets, acquisition-related costs, restructuring charges, net, loss (gain) on investments, non-GAAP income tax adjustment, and other items detailed under "Supplemental Financial Information" in our earnings press release posted to our website under "Quarterly Results" at http://ir.logitech.com. We also present percentage sales growth in constant currency ("CC"), a non-GAAP measure, to show performance unaffected by fluctuations in currency exchange rates. Percentage sales growth in constant currency is calculated by translating prior period sales in each local currency at the current period's average exchange rate for that currency and comparing that to current period sales. Logitech believes this information will help investors to evaluate its current period performance, outlook and trends in its business. With respect to our outlook for non-GAAP operating income, most of the excluded amounts pertain to events that have not yet occurred and are not currently possible to estimate with a reasonable degree of accuracy.Therefore, no reconciliation to the GAAP amounts has been provided for the first half of Fiscal Year 2024 and full Fiscal year 2024 non-GAAP operating income outlook. logitech 02#3#4Video Collaboration Rally Bar Huddle and Sight Al Camera Logitech announced the release of Rally Bar Huddle, a premium all-in-one appliance-based video bar for huddle and small rooms, and the newest addition to Logitech's family of conference cameras. Designed to deliver equitable video conferencing meetings with ease, Rally Bar Huddle is quick to set up, simple to manage, and easy to integrate with Tap IP through CollabOS. Rally Bar Huddle is designed for rooms up to six people to ensure every participant is seen and heard clearly. Logitech also released the Sight Al Camera. Sight is an Al-powered tabletop camera that works with Rally Bar or Rally Bar Mini to capture the best perspective of meeting participants, and track conversation as they move around the conference room. It's the next step in Logitech's quest to create an equitable experience for remote and in-room meeting participants. logitech 04#5Personal Workspace Solutions MX Keys S Combo, MX Keys S, and MX Anywhere 3S Logitech announced MX Keys S Combo, MX Keys S, and MX Anywhere 3S, the latest additions to the premium Master Series designed for advanced users, such as software developers and creative professionals. MX Keys S Combo features the new MX Keys S keyboard, fan-favorite MX Master 3S mouse and comfortable MX Palm Rest. Better together, this set enables faster and more precise work, ideal for skilled professionals focused on high levels of creation and maximum output. The MX Keys S Advanced Wireless Illuminated Keyboard provides a superior low-profile typing experience from Logitech, with keys shaped for your fingertips so the keyboard delivers fast, fluid and Perfect Stroke typing in a comfortable design. Experience the speed, precision and silence of MagSpeed electromagnetic scrolling in Logitech's most advanced wireless compact mouse, the MX Anywhere 3S. logitech LUB W verts vector no 25 Pum 05#6Gaming Logitech G PRO X 2 LIGHTSPEED Logitech G announced the release of the ultimate esports headset - the new Logitech G PRO X 2 LIGHTSPEED Wireless Gaming Headset. Designed and tested with top esports athletes, the new PRO X2 headset features all new, revolutionary PRO-G GRAPHENE Audio Drivers, making it the pinnacle of gaming audio and a must-have headset for the most discerning and competitive players. In esports, clarity of sound and communications are critical factors that influence winning. Being able to hear the slightest audio cue and communicate with teammates makes all the difference. The new PRO-G GRAPHENE Audio Driver has been precision engineered with a 50 mm graphene diaphragm featuring a live edge suspension, to deliver immersive soundscapes like never before. The new driver delivers improvements in sound reproduction accuracy, time to signal accuracy and distortion reduction, allowing players to identify audio objects more clearly, and more quickly discern their location as objects move relative to the player. logitech 06#7Design Red Dot Design Team of the Year 2023 Logitech was awarded the coveted Red Dot Design Team of the Year 2023 award. Each year, Red Dot recognizes a team that has been consistently innovative with outstanding achievements in the area of product design and sustainable design policy. Logitech's primary has been to design with the consumer in mind and designing with purpose, to help all people pursue their passions; and to do it in a way that is good for the planet. This work has taken on many forms, from reinventing the traditional mice and keyboards to pioneering materials research and introducing recyclable plastics across Logitech, with more than 50% products now incorporating recycled materials. The Red Dot Design Team of the Year recognition concludes a record year of design awards for Logitech. In fiscal year 2023 the company was honored with 116 awards across a number of categories including gaming, music, video and computing, with 42 of these being in the fourth quarter alone. reddot award 2023 design team of the year logitech logitech 07#8#9#10#11#12REVENUE AND SELL-THROUGH BY REGION Net sales¹ Americas Asia Pacific EMEA Q1'24 974 445 270 259 Y/Y Y/Y Q1'23 (cc) (US$) 1,160 (15%) (16%) 502 (11%) (11%) 367 (24%) (26%) 290 (11%) (11%) Sell-Through (US$)² (13%) (16%) (10%) (13%) NOTE: 1 Net sales includes promotions. 2 Sell-through figures do not include promotions. Net sales in $ millions. Comparisons are Y/Y and in US$ unless otherwise specified. See Appendix regarding sell-through data. In Q1'24, channel inventories were reduced sequentially and are in line within the operating model logitech 12#13#14NON-GAAP OPERATING EXPENSES Non-GAAP Operating Expenses % of sales Sales & Marketing % of sales Research & Development % of sales General & Administrative % of sales Q1'24 271 27.8% 169 17.3% 66 6.8% 36 3.7% Q1'23 319 27.5% 220 18.9% 70 6.0% 29 2.5% Y/Y (15%) 30 bps (23%) (160 bps) (6%) 70 bps 25 % 120 bps NOTE: Results are non-GAAP. Numbers in $ millions except percentages. Comparisons are Y/Y and in US$ unless otherwise specified. We reduced non-GAAP operating expenses by 15%, in line with revenue declines Reductions in non-GAAP operating expenses were primarily driven by a 23% reduction in Sales & Marketing We continued to prioritize investment in Research & Development General & Administrative expenses increased due to one-time costs logitech 14#15#16#17#18#19#20#21#22