Sonos Results Presentation Deck

Continued Strong Gross Margin Expansion Gross margin +130 bps; ex tariffs, +370 bps. Key drivers: Mix shifts into higher margin products and channels Product and material cost reductions associated with the consolidation of our supplier base and successful cost negotiations 43.0% FY18 43.0% 41.8% FY19 41.9% Gross Margin 43.1% Note: Unaudited. See appendix for reconciliation of GAAP to non-GAAP measures. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. Gross Margin ex Tariffs 45.6% FY20

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