Sonos Results Presentation Deck

Continued Strong Gross Margin Expansion Gross margin +410 bps (ex tariffs, gross margin +130 bps). Key drivers: 41.8% $18.3M tariff refunds; $13.7M tariff expense Lower promotional discounts (LY included "At Home With Sonos" campaign) Product and material cost savings in Q1 Mix shifts into higher margin products and channels Offset by component material costs, shipping and logistics costs related to broader industry-wide supply chain dynamics FY19 41.9% Note: See appendix for reconciliation of GAAP to non-GAAP measures. 43.1% 45.6% FY20 Gross Margin 47.2% Gross Margin ex Tariffs 46.9% FY21

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