Sonos Results Presentation Deck

Record Gross Margin Gross margin +530 bps Y/Y - key drivers: Mix shifts into higher margin products and channels Product and material cost reductions Cost leverage on higher volume No promotions as compared to 4Q19 42.6% 42.6% 42.2% 42.7% Gross Margin 47.5% 4Q20 4Q18 4Q19 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 48.3%

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