Q1 Fiscal Year 2024 Financial Results

NON-GAAP OPERATING EXPENSES Non-GAAP Operating Expenses % of sales Sales & Marketing % of sales Research & Development % of sales General & Administrative % of sales Q1'24 271 27.8% 169 17.3% 66 6.8% 36 3.7% Q1'23 319 27.5% 220 18.9% 70 6.0% 29 2.5% Y/Y (15%) 30 bps (23%) (160 bps) (6%) 70 bps 25 % 120 bps NOTE: Results are non-GAAP. Numbers in $ millions except percentages. Comparisons are Y/Y and in US$ unless otherwise specified. We reduced non-GAAP operating expenses by 15%, in line with revenue declines Reductions in non-GAAP operating expenses were primarily driven by a 23% reduction in Sales & Marketing We continued to prioritize investment in Research & Development General & Administrative expenses increased due to one-time costs logitech 14

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