Sonos Results Presentation Deck

Line of Sight to Material Gross Margin Recovery in FY24 Q4 Gross margin increased +270bps y/y driven by: Fewer spot component purchases, price increases, FX tailwind (110 bps), and lower component costs Partially offset by timing of recognition of contra-revenue related to select channel fill ahead of holiday season and higher excess component provisions ● Expected FY24 Gross Margin Recovery to be Driven By ● Lower component costs, favorable product mix, fewer spot component purchases and lower excess component provisions 39.2% 4Q22 Reported: 42.0%* FX tailwind: 110 bps Excluding FX: 40.9%* *includes over 250bps quarterly headwind from higher than normal excess component provision 4Q23 Note: Unaudited. Gross margin excluding the impact of foreign exchange is a non-GAAP measure. I Excluding FX: 44.5%^ FX headwind: 120 bps Reported: 43.3%^ ^includes over 100bps full year headwind from excess component provision FY23 Expected: 45% to 46% FY24 - Guidance Midpoint 14

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