LOGITECH INTERNATIONAL S.A. INTERIM

Financial Statements

Logitech Q1 Fiscal Year 2020 Financial Results Management’s Prepared Remarks (July 22, 2019) Logitech is posting a copy of these prepared remarks, our press release, and accompanying slides to our investor website. These prepared remarks will not be read on the call. We refer to non-GAAP financial measures herein. For full GAAP to non-GAAP reconciliation information and cautionary information regarding the use of non-GAAP measures, please refer to “Supplemental Financial Information” in our earnings press release or “Financial Statements only” posted to our website under “Quarterly Results” at http://ir.logitech.com. The live webcast or replay of the question and answer session will also be available on our website. COMPANY COMMENTARY Following is a summary of the company’s comments on key areas impacting Q1 Fiscal Year 2020. The growth statistics that follow are in comparison to the same period of the prior year, except as otherwise specified. In addition, sales are net sales and the sales growth percentages are for net sales and in constant currency, except as otherwise specified. OVERVIEW Q1 sales rose 9% to $644M, with growth from all three regions and from all our major categories. Unfavorable currency exchange rates adversely impacted Q1 sales growth by approximately three percentage points. Non-GAAP gross margin improved 40 basis points to 37.8% in spite of currency exchange rate and China tariff headwinds. Non-GAAP operating income grew 11% to $67M, and non-GAAP earnings per share increased 15% to $0.39. Cash flow from operations was $37M, up from $12M in Q1 last 1 Logitech Q1 Fiscal Year 2020 Financial Results Management’s Prepared Remarks (July 22, 2019) year. CREATIVITY & PRODUCTIVITY POINTING DEVICES In Q1, Pointing Device sales decreased 2%, with stable trends in cordless mice offsetting declines in trackballs and presenters. Recent product introductions such as MX Vertical and Pebble as well as continued success of our MX family of premium mice have helped to drive consistent performance in our cordless mice category, which is the largest product line within Pointing Devices. KEYBOARDS & COMBOS Our Keyboards & Combos group delivered another quarter of solid performance, with Q1 sales up 3%. Growth from the EMEA and Asia Pacific regions offset a flat quarter in the Americas. PC WEBCAMS Sales in our PC Webcams declined 3% against a very strong q