#1Robot iRobot Corporation Investor Presentation - June 2019 Alison Dean, CFO June 2019 1 R#2Forward Looking Statements • Certain statements made in this presentation that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. • These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. • Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot Corporation undertakes no obligation to update or revise the information contained in this presentation, whether as a result of new information, future events or circumstances or otherwise. • For additional disclosure regarding these and other risks faced by iRobot Corporation, see the disclosure contained in our public filings with the Securities and Exchange Commission. June 2019 2 R#3The Consumer Robot Company - Our Strategic Roadmap 2019 2018 ف O Portfolio of Connected, Intelligent Teaming Robots Persistent Mapping & Digital Features 2017 2016 Global Transformation into Major Regions Consumer Company More than 25 years of global robotic-technology market leadership June 2019 3 R#4Priorities to Grow Stockholder Value ◉ Drive 2019 revenue growth of 17 - 20% ☐ Strengthen Roomba leadership ➤ Innovation setting higher bar - Imprint Smart Mapping Technology; Directed Room Cleaning; Clean Base Automatic Dirt Disposal 2018 - Two major new product launches - i7/i7+ and e5; 2019 - Three additional major product launches ☐ Extend the portfolio ➤ Vacuuming ➤ Mopping ➤ Mowing ☐ Widen the Moat ➤ Brand ➤ Intellectual Property Smart Home ☐ Diversify the supply chain ➤ Rebalance manufacturing volume within China; create dual-sourcing ➤ Begin to move manufacturing outside China ➤ Identify component non-Chinese component suppliers June 2019 4 R#5Robot 01 Strengthen Roomba's Leadership#6Introducing the RoombaⓇ s9+! The world's best robotic vacuum cleaner • The most advanced technology for the deepest clean • . Delivers up to 40x the suction* for our deepest clean yet PerfectEdge® Technology with advanced sensors, and a specially designed Corner Brush deliver a detailed clean • iAdaptⓇ 3.0 Navigation with Imprint TM Smart. Mapping Technology . Learns your home, remembers your rooms, and adapts to determine the best way to clean, every day. • Control which rooms are cleaned and when. • Clean Base TM Automatic Dirt Disposal . Empties the bin on its own, so you can forget about vacuuming for weeks *Compared to Roomba® 600 Series AeroVac TM System ล June 2019 6 R#7The Roomba Experience R 00 ➡What our customers want CLEAN AUTONOMY © Roomba Beady to clean Fuly charged. CLEAN CLEANING "6 I want... my robot to complete its mission every time I want... clean floors. " EASE OF USE I want... my robot to work the way that I would " Experience-Driven Design June 2019 7 R#8Our Innovation Establishes New Bars for RVC Leadership CLEAN Roomba s9/S9+ $1,299 Robot Roomba i7 $799* Roomba i7+ with Clean Base T Automatic Dirt Disposal $1,099* Imprint™ Smart Mapping Clean Base T Automatic Dirt Disposal Roomba e5 $449 AeroForce® Cleaning System Virtually no Maintenance Cloud Connectivity Washable Bin CLEAN Cloud Connectivity Dual multi-surface brushes Intelligent Navigation Roomba 675 $299 CLEAN Introduce Innovation in flagship product; Flow innovation across lower price point products * *Prices increased on 1/1/19 in U.S. only due to tariffs June 2019 8 R#9Unique Position of Robots in the Home Rich multi-modal sensing of home Systematic coverage of home Living Room Kitchen Entryway Dining Room Weekly Schedule Sunday 1:00 PM Monday 10:00 AM 10:00 AM Tuesday Wednesday 6:00 PM Thursday 10:00 AM Friday 12:00 PM 10 45 00 88 AM PM 15 Always knows where it is Runs regularly on schedule June 2019 9 R#10RVC Segment Continues to Grow: Now 24% of Total Vacuums Global Vacuum Cleaner Market >$200 (USD, Retail)* 2012: $5B Market Non-RVC 87% RVC 13% 2018: $10B Market 12% CAGR Non-RVC: 10% CAGR Non-RVC 76% RVC: 25% CAGR RVC 24% RVC segment (> $200) share growth expected to significantly outpace overall vacuum cleaner segment growth (>$200) *Source: Global market size for Vacuum Cleaners >$200 (NPD, GfK, and iRobot internal estimates). June 2019 10 R#11Opportunity: Low Household Penetration Immediate addressable market ~2X current installed base ~14.2MM HH'S ~11% of Total 25MM HH's 86MM HH's 125MM HH's Installed Base Incremental Potential Longer Term Potential Total U.S. HH's Significant Opportunity for Expanded Robot Vacuum Adoption in U.S. Source: iRobot estimate at the end of 2018 June 2019 11 R#12Robotic Vacuum Segment: Global Retail $ Share Global $ Segment Share (RVC+, +$200) YoY Growth Rate 10% 11% 16% 19% 22% 2% 1% 3% 2% 3% 3% 4% Others 3% 2% 5% 1% 3% 3% 6% 3% 2% 4% ■Dyson 4% 2% 10% 10% 5% Samsung 11% 7% 14% 63% 63% 64% 62% 52% CY'14 $945M Panasonic Cecotec I Neato ■Shark Roborock ■Mi Ecovacs iRobot CY'15 CY'16 $1,130M $1,394M CY'17 $1,779M CY'18 $2,489M +23% +29% +28% +40% iRobot Confidential 2018 | 12 R Source: 2014-2018 NPD, GfK, iRobot internal estimates, RVC+ >$200 retail prices; incl. China Online Note: Year-on-Year Exchange Rates are applied in this update#132018 Robotic Vacuum Segment: Global Retail $ Share North America - $809M EMEA -$706M Japan - $187M 2% 1% 1% 4% ■ iRobot 15% 2% ■ iRobot 2% 3% 4% ■ iRobot 5% 10% ■ Shark ■ Cecotec ■ Panasonic - Neato 6% ■ Ecovacs ■ Hitachi 82% ■ Samsung 61% - Neato 22% 64% ■ Electrolux 6% ■ Ecovacs ■iLife Dyson ■ All Others 10% ■ All Others ■ All Others Global (excl China) - $1785M 3% 12% 3% 4% 4% 5% ■ iRobot ■ Shark - Neato 70% ■ Cecotec ■ Ecovacs ■ Panasonic ■ All Others Source: 2018 NPD, GfK, and iRobot internal estimates; RVC+ >$200 retail prices; includes China Online China $705M - 16% 3% 4% 6% 14% 16% 41% ■ Ecovacs ■ Roborock ■Mi ■ iRobot ■ Proscenic ■ Haier ■ All Others June 2019 13 R#14Robot 02 Diversifying Products G#15Extend the Portfolio Vacuuming Mopping Five major product launches in 12 months. Mowing June 2019 15 R#16• Braava jet® mô Robot Mop Ultimate Robot Mop with Precision Jet Spray Advanced cleaning performance • Wet Mopping pads feature wicking fibers to help break-up kitchen grease, grime, and sticky messes • Dry Sweeping pads use electrostatic force to capture dirt, dust, and pet hair • iAdaptⓇ 3.0 Navigation with Imprint TM Smart Mapping Technology • Learns your home, remembers your rooms, and adapts to • determine the best way to clean, every day Control which rooms are cleaned and when • Extended Coverage • 430 - 1075 sq ft Wet Mopping • 1075 sq ft Dry Sweeping CLEAN June 2019 16 R#17TerraTM t7 Robot Mower ● Newly-developed wire-free beacon system • No costly and labor-intensive boundary wires. Imprint TM Smart Mapping Technology • Learns and maps yards • Intelligently navigates yards, cutting efficiently in straight, back-and-forth lines • iRobot HOME App • Control precisely when the lawn is cut • Adjust the height of the grass Reinventing Lawn Care! Robot Terro Robot June 2019 17 R#18Widening the Moat Using our Brand If it's not from Robot, it's not a Roomba. Roomba t CLEAN Robot Roomba s9 Robot Vacuum Draava jet m6 Robot Mop Robot Tep Robot EXQUna SCIEN 1320 Robot June 2019 18 R#19And our Intellectual Property IEEE Top 20 Patent Powerhouses Electronics - 2017 Rank Company Headquarters Sword Encourage or force competitors to design products that avoid iRobot's technology and brand identity Shield Ensure freedom to operate 1 Apple Inc. US 2 Sonos Inc. US 3 LG Electronics Inc. South Korea 4 GoPro Inc. US 5 iRobot Corp. US 1320 + Dolby Laboratories 6 US Inc. 7 Sony Corp. Japan 8 Canon Japan Koninklijke Philips 9 Netherlands NV Hand Held Products 10 US Inc. (Honeywell Int'l.) Robot 11 Goertek Inc. China 12 Kimree Inc. China 13 Samsung SDI Co. South Korea Openness Embrace open source and interoperability where appropriate Enforcement Take actions necessary to ensure fair competitive landscape 14 Panasonic Corp. Japan 15 Hitachi Ltd. Japan 16 Xerox Corp US 17 Knowles Corp. US Fujifilm Holdings 18 Japan Corp. Int'l Game 19 UK Favorable final determination from ITC on iRobot U.S. infringement claim We will vigorously defend our IP Technology 20 Schneider Electric US June 2019 19 R#20Robot 03 Leveraging our Assets for Smart Home Applications A#21An Ecosystem of Robots: The Unique iRobot Difference Enabled by Imprint Link TM Technology#22Smart Home iRobot is an Emerging Player in loT/Smart Home Market Robotic Lawn Mower Roomba Smart Thermostat E TV Voice-Activated Virtual Assistant Home Monitoring Robot Cumulative million 10.0 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 Sales of iRobot Connected Robots Braava jet 1.0 0.0 2014 2015 2016 2017 2018 2019* *iRobot Internal Forecast Spatial information enables the Smart Home Note: iRobot is committed to the absolute privacy of our customer-related data, including data collected by our connected products. No data is sold to third-parties. No data will be shared with third-parties without the informed consent of our customers. June 2019 22 22 R#23Robot 04 Diversify the Supply Chain A#24Supply Chain Diversification - Considerations Industry Trends Are other companies diversifying outside of China? Cross Functional Dependencies Provide decisive direction so functional groups across iRobot can execute timely Geographic Risk Location outside China with optimal balance of infrastructure, expertise, cost and proximity to iRobot offices Establish Manufacturing in Penang, Malaysia in 2019 with continued ramp in 2020 Rebalance manufacturing volume within China; ensure dual sourcing Dual-Source Risk Opportunity to further dual- sourcing efforts across iRobot SKUs Expectations Balance profitability expectations with need to ensure continuity of supply Perlis Thailand kedah kelantan Penang Penang Perak Terengganu Kuala Lumpur Selangor KL Pahang Negeri Sembilan Melaka Melaka-Johor Product Roadmap We won't sacrifice the timing of new product introductions ROI Cost to establish manufacturing in Malaysia vs. cost in China with Tariffs Tariffs Would the outcome of tariffs impact our plan June 2019 Johor 24 24 Singapore R#25Robot 05 Financial Outlook#262019 Expectations: Key Messages $M FY 18 Actual FY 19 Expectations* Revenue 1,093 1,280 - 1,310 YoY Growth 24% 17-20% . Gross Margin 51% ~48% R&D 13% 12% • • Strong global growth continues - U.S. growth impacted by tariffs Gross Margin decline driven by new products without scale and cost- optimization; manufacturing diversification Maintain investment in innovation and product development while beginning to get leverage S&M 19% 19% • Spending to support global rollout of new 2018 products; new 2019 products and mopping category G&A 9% 8% • Leverage G&A globally Op Margin 10% 8-9% EPS $3.01 $3.15 - $3.40** * Plan assumes tariffs of 10% throughout 2019; exploring options at new 25% tariff Expectations provided 4/23/19 Excluding discrete items June 2019 26 R#27Capital Allocation Strategy Inorganic Organic Core Lower Risk Significant Revenue and Profit Contribution Target R&D Investment: 65% - 70% R&D Emerging Medium Risk Market Validation 20%-25% Acquisitions iRobot Ventures Future Higher Risk Exploration 5% - 10% Regular review to address industry and market evolution and company requirements June 2019 27 R#28● Summary 2019 - Growth diversification journey continues • Strengthen Roomba leadership • Extend the portfolio • Widen the moat • Launched five new products in 12 months • Pursuing Opportunities to Leverage Assets for Smart Home applications • Taking Steps to Diversify Supply Chain Inside and Outside of China iRobot Pioneers in robotic cleaning Cleaner floors. Every day. All at the push of a button. June 2019 28 R