Sonos Results Presentation Deck

Resilient Underlying Gross Margin Performance Amidst CE Industry Compression Gross margin declined -150bps y/y driven by: ● Unfavorable product mix shift resulting from home theater weakness ● ● Inventory reserve build related to discontinued products and excess components Unfavorable FX (approximated to be -110bps headwind y/y) Partially offset by fewer spot component purchases 49.8% 2Q21 44.8% 2Q22 Excluding FX: 44.4% FX headwind: -110 bps Reported: 43.3% 2Q23 Note: Unaudited. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. Gross margin excluding the impact of foreign exchange is a non-GAAP measure. See appendix for reconciliation of GAAP to non-GAAP measures. Expected: 44.6% FY23 - Guidance Midpoint LO 5

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