#1EX TURTLE BEACH TURTLE BEACH CORPORATION INVESTOR PRESENTATION NASDAQ: HEAR MAY 2023 000 1#2SAFE HARBOR STATEMENT AND IMPORTANT INFORMATION Forward-Looking Information and Statements This presentation includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Statements containing the words "may", "could", "would", "should", "believe", “expect”, “anticipate", "plan", "estimate", "target", "goal", "project", "intend" and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management's current beliefs and expectations, as well as assumptions made by, and information currently available to, management. While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to inflationary pressures, logistic and supply chain challenges, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, cybersecurity and information technology, general business and economic conditions, risks associated with the expansion of our business, including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, liquidity, and other factors discussed in our public filings, including the risk factors included in the Company's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and the Company's other periodic reports filed with the Securities and Exchange Commission. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise. This presentation also contains trademarks and trade names that are property of their respective owners. Non-GAAP Financial Measures In addition to its reported results, the Company has included in this presentation certain financial results, including adjusted net income and adjusted EBITDA, that the Securities and Exchange Commission defines as "non-GAAP financial measures." Management believes that such non-GAAP financial measures, when read in conjunction with the Company's reported results, can provide useful supplemental information for investors analyzing period-to-period comparisons of the Company's results. Non-GAAP financial measures are not an alternative to the Company's GAAP financial results and may not be calculated in the same manner as similar measures presented by other companies. "Non-GAAP net income or loss" is defined as net income excluding (i) certain non-recurring business costs, (ii) inventory and component related reserves, (iii) goodwill and other intangible asset impairments, and (iv) certain valuation allowances. "Adjusted EBITDA" is defined by the Company as net income (loss) before interest, taxes, depreciation and amortization, stock-based compensation (non-cash), and certain non-recurring special items that we believe are not representative of core operations. These non-GAAP financial measures are presented because management uses non-GAAP financial measures to evaluate the Company's operating performance, to perform financial planning, and to determine incentive compensation. Therefore, the Company believes that the presentation of non-GAAP financial measures provides useful supplementary information to, and facilitates additional analysis by, investors. The presented non-GAAP financial measures exclude items that management does not believe reflect the Company's core operating performance because such items are inherently unusual, non-operating, unpredictable, non-recurring, or non-cash. See a reconciliation of GAAP results to Non-GAAP net income or loss and Adjusted EBITDA included in the Appendix hereto for each of the three months ended March 31, 2023 and 2022. Important Additional Information The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company's shareholders in connection with the Annual Meeting. The Company intends to file a definitive proxy statement and a WHITE proxy card with the SEC in connection with any such solicitation of proxies from the Company's shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING WHITE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. The Company's definitive proxy statement for the 2022 Annual Meeting of Shareholders contains information regarding the direct and indirect interests, by security holdings or otherwise, of the Company's directors and executive officers in the Company's securities. Information regarding subsequent changes to their holdings of the Company's securities can be found in the SEC filings on Forms 3, 4 and 5, which are available on the Company's website at https://corp.turtlebeach.com/ or through the SEC's website at www.sec.gov. Information can also be found in the Company's other SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2022. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the definitive proxy statement and other materials to be filed with the SEC in connection with the Annual Meeting. Shareholders will be able to obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC at no charge at the SEC's website at www.sec.gov. Copies will also be available at no charge on the Company's website at https://corp.turtlebeach.com/. 2#3INTRODUCTION TO TURTLE BEACH CORPORATION & OPPORTUNITY IN THE GAMING ACCESSORIES MARKET 3#4TURTLE BEACH IS A TOP FIVE PLAYER IN THE $8.4 BILLION(1) GAMING ACCESSORY MARKET TURTLE BEACH CORP. @ A GLANCE LEADER IN CONSOLE GAMING HEADSETS FOR 13 YEARS RUNNING WITH 65 MILLION+ HEADSETS SOLD SINCE 2010 HIGH-QUALITY, INNOVATIVE PRODUCTS FOR ALL LEVELS OF GAMERS SUCCESSFULLY DIVERSIFYING INTO BROAD ARRAY OF GAMING ACCESSORIES ON ALL PLATFORMS PC ACCESSORIES, CONTROLLERS, SIMULATION AND MICS COMPRISE ~25% OF SALES (2) WELL-POSITIONED TO LEVERAGE COMPELLING STRENGTHS OF GLOBAL GAMING MARKET VIBRANT, GROWING AND #1 ENTERTAINMENT MARKET lal NASDAQ: HEAR Company Origin: 1975 Headquarters: White Plains, NY Global Team: ~270 Employees INDUSTRY-LEADING INNOVATION AT EVERY PRICE POINT WITH OVER 375 PATENTS 2023 GUIDANCE(3) REVENUE: $265 - $270 MILLION +10-12% vs. 2022 ADJ. EBITDA: $6 - $8 MILLION +$24-$26M vs. 2022 1.Newzoo Peripheral Market Forecast, Oct. 2022 & Internal Estimates (Gaming Accessory Market includes gaming headsets for consoles & PC, PC gaming keyboards, & PC gaming mice, third-party game controllers, microphones, flight & racing simulation hardware) 2. Non-console headset sales comprised 25% of sales for the year ending 12/31/22 3. Guidance Provided May 4, 2023 4#5INDUSTRY TRENDS SHOW GAMING IS THE MARKET TO BE IN A MASSIVE OPPORTUNITY Global game market is expected to grow from $184Bn in 2022 to more than $200Bn in 2025(1) NEW CONSOLES ENERGIZE THE GAMING MARKET The global market for gaming consoles hardware expected to reach $22Bn in 2025(3) GAMING LEADS THE ENTERTAINMENT WORLD Broader gaming market is the largest and most expansive industry in the world of entertainment at over $275Bn(2) A BREAKTHROUGH IN GAMING SIMULATION TECHNOLOGY Stunning realism on console & PC is driving booming growth in the $1.2Bn (5) global gaming simulation hardware market Microsoft "Flight Simulator GAMING DRIVING STREAMING Livestreaming gaming audience is expected to grow to 1.4Bn in 2025 from 0.9Bn in 2022(4) 1. Newzoo Global Games Market Report, Nov. 2022 2. Newzoo Global Games Market Report (Nov. 2022), DFC Reports (Oct. 2022), & Internal Estimates 1941 ONLINE INFLUENCERS CONTINUES RISING IN POPULARITY Influencer marketing industry predicted to reach $16.4Bn in 2022(4) 3. DFC estimates: Updated Feb. 2023 4. Influencer Marketing Hub, June 2022 5. Based on Internal Estimates, Updated Feb. 2023, Includes Racing Simulation Hardware сл 5#6EXECUTING OUR STRATEGY & LEVERAGING INDUSTRY TRENDS $1.4B Market Continue to Lead in Console Gaming Headsets $3.8B Market $3.2B Market Grow in Adjacent VR, Metaverse and the Future Profitably Scale Our PC Gaming Business Hardware Categories 1st product 2022 Entered simulation 2021 Future markets! Category leader (by far) for 13 years Entry-level to premium products Entered PC category 2019 One of top brands in Germany Entered controllers 2021 First mics 2021 Expanding portfolio and reach Continuous innovation (~200* patents) Expanding portfolio and reach High-Quality, Innovative Products for Gamers on All Platforms Trusted Reputation and Brand Superior Retail and Operational Execution Global Market Sizes: Newzoo Peripheral Market Forecast, Oct. 2022 & Internal Estimates. *Counts patents for headsets only - total patent count is ~375. Targets Revenue: 10+% CAGR EBITDA: 10+% Margins 60#7TURTLE BEACH Ⓡ EQ TED STA 000 22:18 GAMING MARKETS & PRODUCTS 10 French Polynes FRANCE odo a 2 JO 00 F CAT GAME PASS Hidden Gems Unearth great games you ma CURA 0000 VELOCITYONE FLIGHTSTICK 7#8CONSOLE GAMING HEADSETS Console Gaming Headsets Market Turtle Beach is the leader for over 13-years running in the $1.4bn (1) global console gaming headset market. Gaming Headsets for Every Gamer Turtle Beach designs gaming headsets for every type of gamer, at every skill level. Our best-selling brand has multiple headset options in multiple price tiers for entry- level to pro gamers. Over 65 Million Headsets Sold Turtle Beach's broad assortment of gaming headsets at different price tiers and variety of colorway options has led to 65 million+ gaming headsets being sold since 2010. Sold Globally Turtle Beach gaming headsets are available in more than 340,000(2) points of distribution around the world. THE NEW KING OF ULTRA- PREMIUM GAMING AUDIO HAS BEEN CROWNED 1. Newzoo Peripheral Market Forecast, Oct. 2022 2. Turtle Beach console gaming headsets only TURTLE BEACH Review Score - 5/5 + Editor's Choice Award "A masterpiece of an all-in- one multi-purpose gaming headset. - GamesRadar TURTLE BEACH Review Score - 5/5 + The Best Award "Turtle Beach has confidently usurped the best Xbox headset crown with the Stealth Pro." - Windows Central Review Score - 9/10 "The best-sounding gaming headset in Turtle Beach's whole catalog and one of the best on the market today." - IGN 8 00#9THE LEADER IN CONSOLE GAMING HEADSETS - BY FAR FOR THE PAST 13 YEARS AND COUNTING #1 GAMING HEADSET PROVIDER FOR XBOX & PLAYSTATION MARKET LEADER HIGHEST REVENUE AND UNIT SHARE Competitors Turtle Beach 5 OF THE TOP 10 SELLERS OVERALL ARE TURTLE BEACH U.S. CONSOLE GAMING HEADSET REVENUE SHARE 2022 WHY & HOW 11 OF TOP 20 SELLERS OVERALL ARE TURTLE BEACH Source: Circana (NPD Group)/Video Games/Dollars/U.S./Jan-Dec 2022 1. Includes only console gaming headsets 2. Counts only patents related to headsets (not including additional patents relating to ROCCAT brand products, Neat Microphones, or HyperSound products) STRONG BRAND & REPUTATION AMONG GAMERS, RETAILERS, GAMING INDUSTRY PRODUCT FOR EVERY GAMER ENTRY-LEVEL TO PROFESSIONAL PRODUCT INNOVATION PLUS, UNIQUE FEATURES - MANY PATENTED GLOBAL RETAIL STRENGTH ~340K+ GLOBAL POINTS OF DISTRIBUTION(1) STRONG PARTNERSHIPS WITH LEADING INFLUENCERS, ESPORTS TEAMS, CONTENT CREATORS OVER 15 YEARS EXPERIENCE GAMING HEADSETS & WITH XBOX AND PLAYSTATION NEARLY 200 ISSUED PATENTS(2) GAMING HEADSETS 6#10THE MOST COMPLETE PORTFOLIO OF CONSOLE GAMING HEADSETS ENABLES CONSUMER UPGRADES OVER TIME, FROM ENTRY-LEVEL TO ULTRA-PREMIUM Feature Upgrades & Improvements Glasses Friendly Powerful Amplified Audio - Bass Boost & Audio Presets Mic Monitoring · Memory Foam Cushions - Metal-Reinforced Headband - - Gaming Earbuds - 40mm Speakers - Multiplatform - Flip-to-Mute Mic Connectivity - Wireless Connectivity - Larger 50 & 60mm Drivers - Superhuman Hearing - - Ultra-Premium Bluetooth Connectivity -App-Based Settings - Premium Quality - Esports-Focused - Audiophile Sound Performance - Best-in-Class ANC Features RECON™ RECON™ SCOUT STEALTH 600 STEALTH STEALTH™ 600 700 AIR GEN 2 USB $99.99 GEN 2 MAX $129.99 GEN 2 MAX $199.99 200 500 RECON" 70 GEN 2 $59.95 BATTLE BUDS $29.95 $39.95 Entry-Level Gamers Plays Approx. 4 Hours Per Week $79.95 Casual Gamers Plays 4-6 Hours Per Week $99.99 Enthusiast/Core Gamers Plays 7-15 Hours Per Week ELITE PRO 2 + SUPERAMP $249.95 Esports Gamers Plays 15+ Hours Per Week STEALTH PRO $329.99 High-End Gamers Plays 15+ Hours Per Week Small sampling shown of Turtle Beach's portfolio of console gaming headsets. The full lineup is available at www.turtlebeach.com. Innovations that drive immersion, enjoyment, and competitive advantages at every price point 10 10#11PC GAMING ACESSORIES PC Gaming Market Total addressable market for PC gaming accessories, including keyboards, mice, PC headsets is roughly $3.2B(1). Expanding Award-Winning Product Line Turtle Beach entered the PC gaming accessories market in 2019 with its ROCCAT branded products and has significantly expanded its lineup of award-winning PC gaming accessories. Melding PC Performance & Style ROCCAT's PC gaming accessories are well- known for combining performance-driven features and functionality with the brand's sleek modern style and beautiful RGB lighting. Review Score - 4/5 "Gorgeous honeycomb RGB lighting - a refreshing change from the usual gaming aesthetic" – TechRadar BAC w - 1. Newzoo Peripheral Market Forecast, Oct. 2022 NOSCAT Review Score - 9/10 "A great premium gaming mouse that offers respectable specs and a unique sense of RGB razzle dazzle." - PCGamesN Review Score - 4/5 + Editor's Choice "Is there a 'most beautiful' category on our Best Gaming Keyboards Page? Well, there will be, and it'll go to ROCCAT's new Vulcan II Max." - Tom's Hardware 11#12INNOVATING THE PC GAMING EXPERIENCE Kone Air MSRP: $69.99 Kone XP Air MSRP: $169.99 Kone XP MSRP: $89.99 ROCCAT DCC ROCCAT Kone Pro Air | Kone Pro MSRP: $129.99 | $79.99 BEEE BEES FREE FEE COO ROCCAT BOCCA Burst Pro Air | Burst Pro | Burst Core MSRP: $99.99 | $59.99 | $29.99 MOCENT MCCCAT Kone AIMO Remastered MSRP: $79.99 ROCC Vulcan II Max Vulcan II Mini MSRP: $199.99 MSRP: $149.99 Vulcan Pro MSRP: $199.99 Vulcan TKL Pro | Vulcan TKL MSRP: $159.99 | $129.99 Vulcan 120/121/122 MSRP: $159.99 Pyro | Magma | Magma Mini MSRP: $99.99 | $59.99 | $49.99 NOCERT ROCCAT Syn Max Air MSRP: $249.99 Syn Pro Air MSRP: $149.99 ELO 0200 Elo 7.1 Air | Elo 7.1 USB | Elo X Stereo MSRP: $99.99 $69.99 | $49.99 Torch USB Mic MSRP: $99.99 ROCCAT Syn Buds Air MSRP: $99.99 Syn Buds Core MSRP: $24.99 12#13GAMING CONTROLLERS Gaming Controllers Market Total addressable market for third-party gamepad controllers is roughly $500M(1) with the same retail footprint and consumer base that knows and loves Turtle Beach headsets. Microsoft Partnership Leveraged Microsoft partnership to enter the gamepad controller market with wired products for Xbox consoles and Windows PCs, and unique wireless mobile controllers. Award-Winning Market Entry Powerful game controller market entry with the multi award- winning, top-rated Designed for Xbox Recon Controller. First and only controller products with proprietary audio features like Superhuman Hearing. Controller Portfolio Expansion Growing portfolio of game controllers including mobile, cloud, and additional console platforms planned. Review Score - 9/10 + Editor's Choice "A feature-packed wired gamepad with top-notch performance and build quality." - IGN Review Score - 9/10 + Recommended "Turtle Beach's Xbox Recon Controller is loaded with inventive and useful on-board features at a shockingly low price." - Digital Trends Review Score - 4/5 + Highly Recommended "A supurb set of features at a low price." - GamesRadar 1. Newzoo Peripheral Market Forecast, Oct. 2022 & Internal Estimates 13#14GROWING GAMING CONTROLLER LINEUP EXPANDING GAMING CONTROLLERS FROM CONSOLE TO PC TO MOBILE GAMING Turtle Beach Recon Controller Review 9 +IGN Amazing The Turtle Beach Recon Controller's robust build quality and feature set make it a compelling wired alternative to the traditional Xbox gamepad. Michelle Rae Uy EDITORS' CHOICE Recon Controller Xbox | Windows PCs REACT-R REACT- REACT-R Controller Xbox | Windows PCs GAME PASS ME PASS GAME PASS GAME PASS Recon Cloud Hybrid Controller Android 8.0+ | Xbox | Windows PCs Atom Controller Android 8.0+ Mobile Phones 14#15GAMING SIMULATION ACCESSORIES Gaming Simulation Hardware Market PC/console flight sim hardware adds over $450M (1) in global market opportunity and is ripe for new products and innovation. Racing sim adds another $700M(1). Review Score - 4.5/5 "Frankly, it's about as close as you can get to being in a real cockpit without taking up classes." - GamesRadar Microsoft FULL GAME Windows 10 XIS XBOX PREMIUM DELUXE Flight Sim 2020 PC Launch MSFT Flight Sim 2020 launched on PC August 2020, on Xbox Series XIS in 2021 capturing a new audience of gamers on console, and on the Xbox Cloud in 2022 for Xbox One and lower-spec PCs and mobile. VelocityOne Flight Becomes Best-Seller in 2022 Turtle Beach launched its first simulation product, VelocityOne Flight Universal Control System, in late 2021 and it became the gaming industry's market share leader for flight controllers in the U.S. and UK in 2022(2). Simulation Accessory Expansion In 2022, Turtle Beach launched the follow-on VelocityOne Rudder pedals, Stand, and Flightstick products - all of which have received top ratings from flight sim enthusiasts and reviewers. Entry into Racing sim is in process. 1. Based on Internal Estimates, Updated Feb. 2023 2. Circana (NPD Group)//Video Game Accessories/Stick Controllers/Jan-Dec. 2022 2. GfK Entertainment UK Retail Tracking/Period: Jan-Dec 2022 UK/Product Group/Category: Gaming Joysticks UK/ Sales: Based on Sales Value GBP generated over 2022 for all Gaming Joysticks by SKU for UK Review Score - 9/10 + Editor's Classic Award "If you're looking for a more natural method of controlling your aircraft without reaching for the keyboard and mouse, I can highly recommend this VelocityOne Flig ht Universal Control System." - PC Pilot Flight Simulator 15#16GROWING GAMING SIMULATION ACCESSORY LINEUP EXPANDING TURTLE BEACH'S AWARD-WINNING VELOCITYONE PRODUCT LINE PCPilot CLASSIC AWARD VelocityOne Flight Universal Control System Xbox | Windows PCs PCPilot PLATINUM AWARD VelocityOne Rudder Xbox | Windows PCs | Universal Compatibility VelocityOne Stand Perfect for VelocityOne Products | Universal Compatibility PCPilot PLATINUM AWARD VelocityOne Flightstick Xbox | Windows PCs 16#17TURTLE BEACH Ⓡ EQ COMPANY CAPABILITIES 10 French Polynes FRANCE TED STA OOO 22:18 GAME PASS TURTLE BEACH JO Hidden Gems Unearth great games you ma OD CAT CURA 0000 VELOCITYONE FLIGHTSTICK 17#18TOP CONSUMER BRAND LOYALTY & TOP-RATED CUSTOMER SERVICE WHY WE PUT OUR CUSTOMERS FIRST IN NEWZOO'S CONSUMER INSIGHTS REPORT(¹), Turtle Beach had the highest brand loyalty among active console gamers in the U.S. ON TRUSTPILOT - a digital platform for consumers to review and rate their customer service and support experiences - Turtle Beach is a top-rated brand with hundreds of reviews and a still rising 4.8/5 Star review average with an "Excellent" rating. Trustpilot Q Search for another company... Events & Entertainment > Gaming > Gaming service Provider > Turtle Beach Turtle Beach 89% CUSTOMER SERVICE MATTERS 96% TURTLE BEACH. Reviews 1,100 • Excellent 4.8 ① VERIFIED COMPANY of consumers will buy more from companies that deliver an exceptional customer support experience(2). 1. Newzoo Consumer Insights: Gaming Peripherals 2021 2. NICE CXone CX Transformation Benchmark - Study 2018 via Salesforce 3. HubSpot Annual State of Service Research Report 2020 of customers say customer service is important in their choice of loyalty to a brand(3). TURTLE BEACH TRUSTPILOT REVIEWS "Totally and completely satisfied with the customer service, quality and coverage of your company and products. Will definitely recommend and will be a continued customer. Thank you." "The best gaming company to deal with." 18#19EXPERT OPERATIONAL MANAGEMENT WITH GLOBAL DISTRIBUTION FOOTPRINT SUPERIOR EXECUTION, A COMMITMENT TO DETAIL & DESIGN, AND STRONG RETAILER RELATIONSHIPS PUSH OUR STRATEGY FORWARD Decades of product quality & innovation, with over 375 patents, have led to 13+ years of leadership - by far - in console gaming headsets. BEST BUY Superior operational execution with more than 340,000 global points of distribution and best- in-class retail execution have made Turtle Beach a top retail partner for gaming. Efficient and flexible global supply chain, including significant non-China production, have enabled reliable delivery to retailers and highly competitive cost structure. TARGET Walmart amazon GameStop Many others globally... Flexible, efficient global supply chain Nearly 400,000 points of distribution with top retailers globally FIGHTER AIRCRAFT The above strengths have made Turtle Beach a top brand for gamers and enabled successful entry into additional new gaming accessory categories. Leading innovation in products APPROACHING SQUAD WEAPON RELOAD SUPERHUMAN HEARING ENEMY FOOTSTEPS ENHANCE YOU GAMING EXPERIENCE astro ppdpng RIG GAMING HEADSETS TANK GLASSES FRIENDLY 19#20COMPELLING STREAMER & ESPORTS PARTNERSHIPS OVER 950M GAMERS IN THE AMERICAS & EUROPE, & OVER 270M ESPORTS ENTHUSIASTS GLOBALLY (1) Ali-A 36M Reach Skyrroz 5M Reach AF95 AirForceProud95 1.4M Reach DrDisrespect 10M Reach NIKKOORTIZZZ Nikko Ortiz 5M Reach Adept 1M Reach twitc con me JEZ MrSavage 10M Reach Castro 8M Reach ROCCAT COCONUT BRAH KayPea 2M Reach Coconut Brah 2M Reach BennyCentral 673k Reach Vlesk 631k Reach BlackKrystel 579k Reach Archonaut 280k Reach Javier Rodriguez 132k Reach FabuRocks 102k Reach UCSD ESPORTS GEN.G क Gen.G Esports Global Esports Team ឃ UCSD Esports 1st Collegiate Partnership Seattle Surge Competitive Call of Duty Team Small sampling shown of Turtle Beach influencer/streamer and esports team partnerships. 1. Newzoo Global Esports Apr. 2022 & Global Games Market Report Nov. 2022 20 20#21EXPERIENCED MANAGEMENT TEAM JUERGEN STARK CEO • 25+ years of hardware and software technology experience Former COO of Motorola Mobility's $9Bn mobile business 10 years at McKinsey & Company, Inc. JOHN HANSON CFO 15+ years in CFO roles at multiple publicly traded companies EVP & CFO at Dialogic CFO at One Communications Corp MATT SEYMOUR SVP, PRODUCT MANAGEMENT JOE STACHULA CTO & SVP, PRODUCT DEVELOPMENT • • 20+ years in the consumer electronics industry Previously with Sony leading television portfolio planning & development, product marketing 20+ years in consumer electronics 12 years at Plantronics engineering audio headsets CRIS KEIRN SVP, GLOBAL SALES 25+ years in consumer electronics and automotive 17 years with Motorola in engineering, product management, operations, quality & customer relations JOSE ROSADO SVP, GLOBAL OPERATIONS Former Sr. Director, Global Supply Chain Operations for HP 22 years of supply chain management with Motorola, ON Semiconductor, HP, Cisco MEGAN WYNNE GENERAL COUNSEL 5 years with I-Flow, a Kimberly-Clark Health Care Company 13 years with Morris Polich & Purdy law firm RYAN DELL SVP, MARKETING . 15+ years of brand, consumer, and digital marketing experience Formerly CMO at MVMT, VP of Marketing & Acquisitions at FTD Companies (Pro Flowers, Shari's Berries) 21 21#22A HIGHLY QUALIFIED & ENGAGED BOARD OF DIRECTORS FOCUSED ON DRIVING SHAREHOLDER VALUE TERRY JIMENEZ CHAIRMAN JUERGEN STARK CEO WILLIAM KEITEL GREGORY BALLARD DR. ANDREW WOLFE Nearly 30 years of experience in executive leadership, M&A, and capital allocation • • Former CEO, President, & board member at Tribune Publishing, a media company with $1B annual revenue Former Partner, IBM Global Business Services, and former board Chairman for Best Reviews Board member for NIU College of Business 25+ years of experience in hardware and software technology businesses • • Former COO of Motorola Mobility's $9Bn mobile business 10 years at McKinsey & Company, Inc. MBA, Harvard Business School 40 years of senior executive technology and semiconductor company experience • • Former CFO of Qualcomm Inc. (NASDAQ: QCOM) During his 17-year tenure, Qualcomm grew revenues from ~$800M to ~$25Bn Named to Institutional Investor Magazine's "Best CFOs in America" list for nine consecutive years 40 years of experience as an executive, investor and entrepreneur • General partner with Eleven Ventures Former SVP, Mobile & Social Games at Warner Bros, & former CEO of Glu Mobile Former President or CEO at Virgin USA, SonicBlue Inc, Ancestry.com, 3DFX Interactive, & Capcom 30+ years of experience with Fortune 500 companies and tech startups • • Founder & principal of Wolfe Consulting Former CTO for SONICblue, Inc. Expert in IP strategy & licensing; Lecturer at Santa Clara University KATHERINE L. SCHERPING MICHELLE D. WILSON Nearly 40 years of finance, accounting and senior management experience • Current CEO, KLD Advisors, Inc., a financial & exec leadership firm • Former CFO for National CineMedia, Inc. • Former CEO/CFO of Quiznos • 20+ years of financial, investing, and senior management experience • Co-Founder & Co-CEO of Isos Capital Management, an independent investment firm Former Co-President, board member, & Chief Revenue & Marketing Officer for World Wrestling Entertainment, Inc. 20+ years of senior leadership experience across multiple industries Current CEO of Pedego, leading brand & largest chain of electric bike stores in North America BRIAN STECH • • Former CEO of Vinci Brands & Incipio Group • Former President of ZAGG Inc. & SteelSeries ApS 25+ years of senior leadership experience in capital markets and investment management Impact investor supporting clients' strategies & generating growth Board member for Cavco Industries, Inc, Laird Norton Wealth Mgt., Tern Bicycles JULIA W. SZE • • • Former CIO, Wells Fargo Family Wealth Group Nearly 20 years of leadership experience across the financial services industry • WILLIAM WYATT Founder & CIO of The Donerail Group, an investment & advisory firm • Former Portfolio Manager at Starboard Value LP, a NY- based investment adviser • Formerly held investment, advisory, & leadership roles at Empyrean Capital, Magnetar Capital, & Goldman Sachs 22#23TURTLE BEACH Ⓡ EQ TED STA 000 22:18 GAME PASS FINANCIAL & INVESTOR HIGHLIGHTS 10 French Polynes FRANCE odo a JO Hidden Gems Unearth great games you ma 00 F CAT CURA 0000 VELOCITYONE FLIGHTSTICK 23 23#24Q1 2023 RESULTS & KEY MESSAGES Attractive Gaming Fundamentals Remain • Gamers continue to grow - 300M gamers added since 2020 and another 335M expected by 2025(1) Average annual spend per gamer has increased over 20% from 2020(2) Revenue in global games market expected to increase with a 4.6%+ CAGR from 2022-2025(1) Navigating Well Through Macroeconomic Headwinds • Increased consumer demand paired with improvement in historic retail inventory pull back Competitive discounting remains but improving and expected to continue to improve Pandemic residual high freight costs are coming down rapidly, improving margins and profit Gaming Market Showing Signs of Recovering • . Year-to-date hardware spending is 21% higher than the same period in 2022(3) Sony PlayStation set Q1 shipment record for any consoles Strong holiday and recent game releases, including several franchise records plus good 2023 slate Gaming has historically performed well in recessions, including posting growth 2008-2009 Expecting Strong Growth and Positive EBITDA in 2023 Targeting to outgrow the market with 10-12% revenue growth – on track with 10% growth in Q1 Expected growth driven by strong existing and new portfolio, including recent Stealth Pro launch Reduced OpEx (~13% in Q1) will continue to be tightly managed while maintaining key investments Expected revenue growth drives significant increase in EBITDA and profit margins Long term target remains 10+% annual growth and 10+% EBITDA margins 1. Newzoo Global Games Market Report, Nov. 2022 2. Newzoo Gaming Peripheral Survey, Nov. 2022; Gaming Hardware 3. Circana (Formerly NPD): Updated Mar. 2023 Q1 2023 RESULTS Vs. Q1 2022 Net Revenue +10% YoY $51.4M vs $46.7M Adjusted EBITDA +$3.4M YOY $(2.3)M vs. $(5.7)M Non-GAAP Net Income +$1.8M YOY $(4.4)M vs. $(6.3)M Non-GAAP EPS +$0.12 YOY $(0.27) vs. $(0.39) Continued Strong Balance Sheet 2023 GUIDANCE Net Revenue: $265-$270M +10-12% vs. 2022 EBITDA: $6 - $8M +$24-$26M vs. 2022 24#25QUARTERLY FINANCIAL REVIEW $ Millions Q1 2022 Q1 2023 (except per-share data) Revenue $46.7 $51.4 Gross Margin 30.1% 27.5% Operating Expenses $22.3 $20.6 Commentary Reflects strong growth in US console market and share gains across most markets and categories. Year-over-year decline due to higher promotional spend in light of continued competitive discounting partially offset by lower freight and logistics costs. Reflects the benefit from the proactive expense management programs the Company initiated last year and alignment of expenses to product launch plans resulting in a 12.7% decline in recurring operating expenses. Net Income (Loss) $(6.5) $(6.7) Reflects above factors. Diluted EPS $(0.40) $(0.40) Reflects above factors. Non-GAAP Diluted EPS (1) $(0.39) $(0.27) Reflects above factors. Adjusted EBITDA (1) $(5.7) $(2.3) Reflects higher revenue and lower operating expenses. Diluted Shares 16.2M 16.6M See appendix. 1. See appendix for a reconciliation of non-GAAP measures 25#262023 INCREASED OUTLOOK(1) 2023 $265M Net Revenue $270M 10% - 12% Growth Gross Margin -28% - 30% Adj. EBITDA $6M - $8M 2023 Outlook Commentary Reflects expectation of the Company outperforming gaming markets in specific categories based on exciting product releases for 2023, including the recently launched ultra-premium Stealth Pro. Continued execution of long-term business strategy projects return to 10%+ growth moving forward. Reflects expectation of ~$3M in remaining higher freight costs and ~$7M in continued elevated promotional levels which are expected to abate as the year progresses. Long-term target remains mid 30's gross margin. Reflects above factors. Long-term financial outlook anticipates a progressive recovery to 10%+ EBITDA margin target over time as revenue grows. Adj. EPS - ($0.20) – ($0.30) Reflects above factors; anticipates full year effective tax rate of 20%. Diluted Shares ~17M 1. Guidance provided May 4, 2023 26 26#27CONTACTS EQ TURTLE BEACH Investor Relations Contacts: Cody Slach/Alex Thompson Gateway Investor Relations +1 (949) 574-3860 [email protected] ITED STA Turtle Beach Contact: MacLean Marshall 22:18 Sr. Director, Communications Turtle Beach Corporation +1 (310) 431-6215 JO GAME PASS Hidden Gems Unearth great games you may [email protected] COMPANY WEBSITES www.turtlebeachcorp.com | www.turtlebeach.com CURA 10 French Polynes FRANCE | www.roccat.com www.neatmic.com X VELOCITYONE FLIGHTSTICK 27#28LONG-TERM FINANCIAL TARGETS Metric Revenue Target 10+% CAGR Gross Margins % Mid 30's EBITDA Margins 10% + Maintain 13-year leadership position in console gaming headsets. Drive growth in PC gaming accessories, controllers, simulation hardware, and creator microphones. Leverage brand, skills, and global footprint to enter new categories over time. Maintain strong EBITDA while investing for growth. 28#29TURTLE BEACH APPENDIX CORPORATION ®#30GAAP NET INCOME TO NON-GAAP EARNINGS RECONCILIATION FULL YEAR 2022 COMPARED TO 2021 December 31, 2022 Net Income (Loss) GAAP Net Income (Loss) $ Adjustments, net of tax: Non-recurring business costs Inventory and component related reserves Goodwill and other intangible asset impairment Valuation Allowance Change in fair value consideration (59,546) 7,330 7,386 1,434 18,374 Twelve Months Ended December 31, 2021 $ 17,721 4,339 Acquisition integration costs Non-GAAP Net Income (Loss) $ (25,022) (1,928) 69 SA $ 20,201 Diluted Earnings Per Share GAAP- Diluted Non-recurring business costs Inventory and component related reserves Goodwill and other intangible asset impairment Valuation Allowance Change in fair value consideration Acquisition integration costs Non-GAAP- Diluted (3.62) 0.45 0.45 0.09 1.12 SA $ 0.97 0.24 (0.11) 0.00 $ (1.52) $ 1.11 30#31GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION TWELVE MONTHS ENDED DECEMBER 31, 2022 Twelve Months Ended December 31, 2022 Adj Amortization $ $ (2,359) 2,359 Net revenue Cost of revenue Gross Profit As Reported $ 240,166 Adj Depreciation $ 190,979 49,187 Adj Stock Compensation Adj Other (1) EBITDA $ 240,166 (434) (9,763) 178,423 434 9,763 61,743 Operating expenses 100,667 (2,220) (1,238) (7,550) (10,922) 78,737 Operating income (51,480) 4,579 1,238 7,984 20,685 (16,994) Interest expense 1,220 Other non-operating expense (income), net 1,753 1,753 Income (loss) before income tax Income tax benefit Net income (Loss) (54,453) 5,093 $ (59,546) 1. Other includes certain business acquisition costs and non-recurring business costs Adjusted EBITDA $ (18,747) 31#32BALANCE SHEET Balance Sheet Highlights $ Millions Cash & Cash Equivalents Inventories @ March 31, 2022 @ March 31, 2023 $23.7 $20.6 $117.4 $65.2 Revolver (asset-based) $0 Total Debt $0 $0 50 $0 60 Balance Sheet Comments ➤ Inventory decreased from the elevated year-ago period where the Company increased product and component purchases due to longer freight transit times and to reduce risks of supply shortages. ➤ No outstanding borrowings under revolving credit facility. ➤ Cash flows from operations increased $42.1M to $28.8M for the quarter. ➤ Strong balance sheet with no outstanding debt. 32