Sonos Investor Day Presentation Deck

Proven Track Record: Gross Margin Expansion Industry-leading gross margins Gross Margin excl. tariffs Midpoint of Prior Long Term Gross Margin Target 44.8% 45.9% FY2016 43.0% FY2017 41.9% 41.8% FY2018 45.6% FY2019 FY2021 Guidance - Midpoint Gross Margin excluding tariffs is a non-GAAP measure. See appendix for reconciliation of GAAP to non-GAAP measures. We do not provide a reconciliation of forward-looking non-GAAP measures to their comparable GAAP financial measures. See appendix for reconciliation of GAAP to non-GAAP measures. Percentages and sums have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. 43.1% 46.3% FY2020 43.0%

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