INVESTOR

DAY
DECEMBER 9, 2021
 D E C E M B E R 9 , 2 0 2 1

INVESTOR DAY

INTRODUCTION
AN D R E W K R AM E R
Vice President, Investor Relations
Forward Looking Statements
Certain statements made in this presentation that are not based on historical information are forward-
looking statements which are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.

These statements are neither promises nor guarantees, but are subject to a variety of risks and
uncertainties, many of which are beyond our control, which could cause actual results to differ materially
from those contemplated in these forward-looking statements.

Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only
as of the date hereof. iRobot Corporation undertakes no obligation to update or revise the information
contained in this presentation, whether as a result of new information, future events or circumstances or
otherwise.

For additional disclosure regarding these and other risks faced by iRobot Corporation, see the disclosure
contained in our public filings with the Securities and Exchange Commission.

3
 Non-GAAP Financial Metrics
Regulation G Disclosure

This presentation contains references to the non-GAAP financial measures as defined by SEC Regulation G, including non-GAAP gross profit and non-GAAP gross
profit margin, non-GAAP operating expenses, non-GAAP operating income and non-GAAP operating income margin, non-GAAP income tax expense, non-GAAP net
income (earnings) and non-GAAP net income (earnings) per share. These non-GAAP financial measures should not be considered a substitute for, or superior to,
financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should
be carefully evaluated.

Non-GAAP gross profit removes expenses related to the amortization of acquired intangible assets and stock-based compensation while non-GAAP gross profit
margin is calculated as non-GAAP gross profit divided by revenue for the applicable period. Non-GAAP operating expenses excludes the amortization of acquired
intangible assets, stock-based compensation, net merger, acquisition and divestiture (income) expense, and net IP litigation expense. Non-GAAP operating income
removes the aforementioned non-GAAP operating expenses while non-GAAP operating income margin is calculated as non-GAAP operating income divided by
revenue for the applicable period. Non-GAAP income tax expense reflects the tax effect of the non-GAAP adjustments, calculated using the appropriate statutory tax
rate for each adjustment. Non-GAAP net income includes the aforementioned items related to non-GAAP income from operations, and also removes gain or loss on
strategic investments. Non-GAAP net income (earnings) per share is calculated by dividing non-GAAP net income (earnings) by the number of diluted shares used in
per share calculations for the applicable period. Definitions of each item and why they are used in calculating non-GAAP financial measures is detailed in the
appendix of this presentation.

We use non-GAAP measures to internally evaluate and analyze financial results. We believe these non-GAAP financial measures provide investors with useful
supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary
independent of business performance, and enable comparison of our financial results with other public companies, many of which present similar non-GAAP financial
measures. The reconciliation of these non-GAAP metrics to the comparable GAAP metrics are set forth in the accompanying tables in the appendix of this
presentation and are available on our website at https://investor.irobot.com/.

4
iRobot Shareholder Rewards

5
 AGENDA
Introduction – Andrew Kramer, VP of Investor Relations
iRobot Vision – Colin Angle, Chairman & CEO
Products – Keith Hartsfield, EVP & Chief Product Officer
Marketing – Kiran Smith, Chief Marketing Officer
Interactive Q&A
Commercial – Jean Jacques (JJ) Blanc, Chief Commercial Officer
Supply Chain & Operations – Charles Kirol, Chief Digital Business &
Supply Chain Officer
Financial Overview & Long-Term Targets – Julie Zeiler, EVP & CFO
Interactive Q&A

i R O B O T C O N F I D E N T I A L 2 0 2 1 | 6
 D E C E M B E R 9 , 2 0 2 1

INVESTOR DAY
CEO KEYNOTE
C O L I N AN G L E
Chairman & Chief Executive Officer
THE CONSUMER

ROBOT
COMPANY
iRobot is the global home robot leader.

which enable us to build the world’s

most thoughtful robots and develop
intelligent home innovations that
make life better.
Our History 2018
iRobot surpassed
Corporate milestones $1B in annual sales

2020
2005 iRobot celebrates
iRobot stock begins 2016 2017 30 years of making
trading on the NASDAQ iRobot focuses iRobot acquires a difference.
Stock Exchange. on making the Sales on Demand
life better for Corporation (SODC)
the everyday
consumer

1990
MIT robotics Colin
Angle, Helen Greiner
and Rodney Brooks 2017
co-found iRobot iRobot acquires 2021
2012 Robopolis, its largest IRobot acquires Aeris
iRobot acquires European distributor Cleantec AG, adding
Evolution premium air purifiers
Robotics to its product lineup

9
Our History
Robot milestones 2019
iRobot launches the
Roomba s9+ Robot
2002 2015-16 Vacuum and Braava
iRobot and the National jet m6 Robot Mop.
iRobot launches
Geographic Society
their first home-
1992 develop a robot that
centered robots
Grendel searches the Great
equipped with
Pretest at Pyramid in Egypt.
navigating and
an airforce 2013 mapping functions.
base iRobot launches the
Ava™ 500 video
collaboration robot.

2010 2018
2001 iRobot helps
2020 2021
iRobot launches the i7+ iRobot introduces the
The iRobot Packbot® is monitor Gulf of robot, the company's first iRobot delivers the j7;
i3+, bringing auto-evac
fielded in Afghanistan Mexico oil spill. self-emptying robot Roomba’s smartest
to an even more
for disaster response Genius™ robot yet
affordable price point
and other life-saving
missions
10
Our History
AI milestones

2021
iRobot launches its first
visual object detection
2000 and avoidance system
iRobot develops its own AI on a consumer robot
language L/MARS, which still
is the world’s only real-time
version of LISP

3.0

1990
iRobot’s founding 2020
technology is a
breakthrough in AI
2015 iRobot introduces its
Genius Home
iRobot launches world’s first
performance. Behavior Intelligence Platform,
control is now the core
real time visual based SLAM
bringing new levels of
2021
engine to be commercially iRobot delivers on
of modern AI. personalization and
deployed on the Roomba 980 a Poop Promise
control to its robots
Guarantee

11
 We are fun
We are passionate
#LifeatiRobot
We are determined
We are results-oriented

iRobot’s culture is vital

to our happiness and
effectiveness as a team.

12
Our Leadership
Who we are

COLIN ANGLE JULIE ZEILER RUSS CAMPANELLO KEITH HARTSFIELD JEAN JACQUES
Chief Executive Officer EVP, Chief Financial Officer EVP, Human Resources & EVP, Chief Product Officer
(JJ) BLANC
& Founder Corporate Communications EVP, Chief Commercial Officer

CHRIS JONES CHARLIE KIROL KIRAN SMITH FARIS HABBABA GLEN WEINSTEIN
Chief Technology Officer EVP, Chief Digital Business & EVP, Chief Marketing EVP, Chief EVP, Chief Legal Officer
Supply Chain Officer Officer R&D Officer

13
 Our vision
build
thoughtful robotics intelligent home
innovations make life better
Our Strategy

15
enabled by

16
enabled by

17
Transformations
Transformations
Hardware was

King
 Shift to Software
Changed the World 300 × 387300 × 387
Hardware was

King
22
 Shift to Software
Changed the World

Hardware was

King
23
Hardware was

King
24
 iRobot will differentiate based
on superior software intelligence
delivered on high-performance,
beautifully designed hardware

Shift to Software
Changed the World

25
 3.0

Superior intelligence and understanding of the environment enables

superior performance, ease of use, and reliability.
1. House
Rules

Your Smart Home should respect a Home’s rules just like the
people who live in the home do.
27
2. Preferences
not Programming

The Smart Home should be more like a resort. You are asked
for your preferences, but then the details are taken care of.

28
3. Collaborative
Bathroom Entry

Intelligence

Bedroom Kitchen

Family Room

Dining Room

The Smart Home should feel like a Partner, where you have
precise control as to where, when, and how it behaves.
29
4. Home
Knowledge

Homes
constantly
changing

Your Smart Home must continuously Like with Smart Phones, your
and securely update to new furniture Smart Home’s preferences & data
layouts, rooms, and device software. should seamlessly transfer to
newly added or replaced devices.

30
 Innovate
KEY METRICS

Segment Share New Products

3.0

Genius Updates Patents 31

 25% 50% 24% 38%
62%
75% 50% 76%

North America EMEA Japan Global (excl China)

2020 Size: $963M 2020 Size: $1,157M 2020 Size: $250M 2020 Size: $2,465M
Growth: +23% Growth: +34% Growth: +14% Growth: +27%

Innovate
IRBT position: IRBT position: IRBT position: IRBT position:
Conceded share Conceded share Gained share Conceded share

iRobot Others
KEY METRICS
Segment Share*
9/30/21

2 MAJOR 1,792 2
(Q121 and Q321) Delivered in 2021

Genius Updates Patents New Products

* Segment Share Source: 2020 market size for Vacuum Cleaners >$200 (Third-Party Market Data and iRobot internal estimates). 32
Growth from prior year reflects normalization of 52-week calendar year, updates to certain data sources and other changes.
 Multiple More Multiple
across a more
diverse product

Innovate portfolio

KEY METRICS
Genius Updates Patents New Products

2024

Continued
Leadership
Segment Share
33
4. Home
Knowledge Transformations

Continuous secure
Preferences, photos, and correspondence seamlessly transfers
learning and scalability to a new phone, it just works.

34
Enabled By

35
 TRANSACTIONAL RELATIONSHIP

Acquire new customers & increase Improve customer retention & build
Objective
volume at point-of-sale customer loyalty

Short term Length of Long term

Relationship

Customer
Minimal Contact Frequent

Mass marketing and promotion Marketing

Personalized marketing
Type

36
 The Lifetime Value of an iRobot Connected Customer
Attractive multi-year economics

GET GET, KEEP, GROW SUBSCRIPTION

Customer A Customer B Customer C
Non-connected Connected Customer (Future)

Initial Multi-Year
Initial
Purchase DTC Total Lowers the barrier for
Purchase
Purchases customer acquisition
Revenue* $250 Revenue* $250 $375+ $625+

White glove care &

Gross Margin Mid-30% Low to Low to turnkey convenience
Gross Margin Mid-30%
Mid-40% Mid-40%

Working Media Intensity Moderate Working Media Intensity Moderate Low --

Multiple opportunities to
expand the relationship
Single purchase primarily at retail Initial purchase primarily at retail
Highly transactional Relationship driven with personalized customer benefits
Superior multi-year
Minimal visibility into future purchases Customer purchases other products directly from iRobot economics for iRobot
Proven economics at scale More attractive economics for iRobot

* Reflects average iRobot revenue from a retail transaction. Economic impact determined using range of scenarios for DTC purchases of robots and accessories. 37
 Get
KEY METRIC

Connected Customers
38
 Get YTD 2021 12.5M

KEY METRIC
2020 9.7M

2019 5.3M

2018 2.3M

Connected 2017 65k

Customers
9/30/21

39
* Connected customers defined as individuals who have registered to receive digital communications (in-app messaging, email or both).
 2024 30M+

Get YTD 2021 12.5M

KEY METRIC

2020 9.7M

2019 5.3M

2018 2.3M

Connected
Customers 2017 65k
2024

40
* Connected customers defined as individuals who have registered to receive digital communications (in-app messaging, email or both).
 Keep
KEY METRICS

Utilization Net Promoter

Score

Customer
Satisfaction

41
 INDUSTRY STANDARD

70
-
Keep 90%
50 3 pts
above
industry
KEY METRICS average

9/30/21

Net Promoter Customer

Utilization* Satisfaction***
* Utilization tracks the percentage of robots used by their owners at least once the following quarter. Score**
** Net Promoter Score measures the loyalty of customers to a company with scores ranging from -100 to +100 42
*** Based on American Customer Satisfaction Index for Household Appliances. 2021 Average Satisfaction Score for Household
Appliances in 2021 was 78. iRobot CSAT score as of July 2021.
 INDUSTRY STANDARD

70
-
Keep 90%
50 5 pts
above
industry
KEY METRICS average

2024

Net Promoter Customer

Utilization* Satisfaction***
* Utilization tracks the percentage of robots used by their owners at least once the following quarter. Score**
** Net Promoter Score measures the loyalty of customers to a company with scores ranging from -100 to +100 43
*** Based on American Customer Satisfaction Index for Household Appliances. 2021 Average Satisfaction Score for Household
Appliances in 2021 was 78. iRobot CSAT score as of July 2021.
 Grow
KEY METRIC

Existing
Customer Revenue

44
 32% SURVEY DATA

Grow 11%
Non-
21%
Connected
KEY METRIC Connected Customer
Customer
Revenue Revenue

9/30/21

33% growth in connected customer revenue

for the first nine months of 2021

45
 Grow 5–
8%
~35%
Connected
KEY METRIC Non- Customer
Connected Revenue
Customer
Revenue*
2024

Expect 35%+ CAGR in connected customer revenue

(2021-2024)

46
 47 104 98 12
250+ B

Smart
Speakers 30 240 B

Vacuum
Cleaner 22 80 B

Home
security 68 70 B

Air
10 purifiers 60 B
Smart plugs
and switches 40
50 B

Lawn
Mower 21 40 B

Smart Smart
Thermostats 17 door 15 30 B
locks
20 B
Smart Digital
Smart
Smart Light bulbs 15 smoke 15 2 healthcare
sprinklers 4 Leak detector, 1 detectors hardware 10 B

MAINTAINED EFFICIENT SECURE HEALTHY

TAM
Source: iRobot, December 2021
Total Addressable Market

250+ B

240 B

80 B

70 B

60 B

CONNECTED BRAND AI & HOME

50 B
CUSTOMER BASE STRENGTH UNDERSTANDING

40 B

30 B

20 B

10 B

TAM 48
Expansion & Diversification – Why Air Purification?

iRobot’s 12.5m Connected Customers

49
Expansion & Diversification – Why Air Purification?

iRobot’s 12.5m Connected Customers

~80% Found Air Purification & Monitoring
Somewhat or Very Appealing

50
Expansion & Diversification – Why Aeris?

Differentiated and highly regarded products

Significant opportunity to leverage our retail

relationships, marketing expertise and
expansive global connected customer base

Expect air to be a $150m+ annual revenue

product category over the next several years

Potential for gross margin improvement

51
Long-Term Financial Model (2024)
Non-GAAP

16% – 18%
$2.4B to $2.6B REVENUE
CAGR

Cost headwinds persist

~43% GROSS PROFIT through FY22 with
MARGIN improvement in FY23

OPERATING Consistent
~12% to ~13% PROFIT leverage
MARGIN

Substantial
$7.50 to $9.25 EPS* acceleration

52
* Based on 29m+ diluted shares outstanding.
Summary

RVC category underpenetrated with strong

growth prospects

Software intelligence at the foundation of a

sustainable, differentiated value proposition

Multiply customer unit economics via

existing customer revenue acceleration

Further improve customer value and TAM

expansion through product diversification
supported by product intelligence and brand

Entering into a new era of

growth and value creation
53
THANK
YOU

Top 5 Roomba Names

1. Rosie
2. Wall-E
3. DJRoomba
4. Alfred
5. Alice
 D E C E M B E R 9 , 2 0 2 1

INVESTOR DAY

PRODUCTS &
SERVICES
K E I T H H AR T S F I E L D
EVP & Chief Product Officer
 iRobot Products are Trusted in Key Markets
iRobot remains the leading global consumer robotics brand

❑ iRobot created the category

and has been a technology and
category leader ever since

#1 #1 ❑ Customer insights are integral to

informing our near-term and long-
#1 range product roadmaps

❑ 2021 product launches help

maintain iRobot’s leadership and
give us momentum going forward

❑ At iRobot, we focus on innovation

(HW & SW) that will help deliver
#1 globally and #1 in each major the best customer experience
region we’re focused on

Segment Share Source: 2020 market size for Vacuum Cleaners >$200 (Third-Party Market Data and iRobot internal estimates). See slide 31 for further details. 56
 Significant Runway Ahead – Low Household Penetration
IRBT expects expansion of ceiling as market evolves along adoption curve
#Total addressable HHs
60
55 Poland
Portugal
50
Czech Republic
Denmark
Evolving consumer appreciation
45
5-year CAGR (%)

40 South Korea
Sweden for the value of home robotics will
35
30
Netherlands

Belgium
US
Spain drive adoption
25 Switzerland
Germany
Italy France
20 Great Britain
Taiwan

15 Austria Robotic Cleaning Goes Mainstream

10
5 Japan
Australia
0
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

HHP (%)
* iRobot estimate for HHP: household penetration is based on third-party market data, and internal estimates for Amazon marketplace
and manufacturers’ direct channels.
** iRobot estimate for HHP is based on ever owned robot ownership.
*** iRobot estimate for 5-year CAGR based on growth of penetrated HHs
**** iRobot estimate for total addressable HHs is based on survey data and iRobot estimates.

iRobot’s premium, differentiated

experiences will continue to drive
market leadership
57
 WE PUT THE
CONSUMER AT
THE CENTER OF
We invest in understanding customer needs
EVERYTHING
and innovate in service of the consumer to
deliver delightful products and experiences.
WE DO.
We do this to drive exceptional
We invest in understanding customer needs and
consumer loyalty
innovation in service that delivers
of the consumer to deliver
sustainable delightful products and experiences.
differentiation
We do this
and long-term to drive exceptional
profit.
consumer loyalty that delivers
sustainable differentiation
and long-term profit.
Customer Understanding is a Key Pillar to Our Success
Over 200 consumer studies since 2019

Number of
Market Product User Experience
connected
Studies Studies Studies
consumers

20+ 75+ 100+ 12.5M

Deep customer understanding across all key geographies

59
Anonymized Fleet Data is a Timely Source of Insights
Data from large robot installed base deepens consumer learning

Number of
Missions Number of Roomba Robot data
Connected
Per Week Maps Created analyzed per week
Consumers

12.5M 15M+ 52M+ 12Tb

Strong privacy-by-design philosophy is at the foundation of iRobot’s Home Knowledge Cloud

Source: iRobot, Connected customer data as of 9/30/21, all other data as of June 2021 60
iRobot has a History of Innovative Product Launches

R960 R690 e5/e6 i7/i7+ s9/s9+ I3/i3+ j7/j7+

2016 2017 2018 2019 2020 2021

iAdapt® 2.0 Clean Map™ Imprint Smart Map & Low-cost Object
Smart Home Imprint™ link technology
Navigation Reports Direct Room Clean Systematic Detection &
Integrations
Navigation Avoidance

Cloud Connectivity Clean base™ PerfectEdge® technology

Automatic dirt disposal

61
Robust Product Portfolio Spans Range of Price Points
ROOMBA s9+
ROOMBA j7+

May 2019
Introduced in
ROOMBA i7+
BEST

Sept. 2021
Introduced in
100%

Sept. 2018
Introduced in
ROOMBA i3+

PERSONALIZED CONTROL
Sept. 2020
Introduced in

CLEANING EFFICACY
75%

AUTONOMY
ROOMBA i1+
BETTER

Nov. 2021
Announced in
BRAAVA JET M6
50%

May 2019
Introduced in
25%
GOOD

0%
FY16 FY17 FY18 FY19 FY20 1H21

Entry / Good Mid-tier / Better Premium / Best

RVCs $200+ (based on MSRP)

Premium (Best) defined as $500+ Introduce Innovation Flow Innovation
Mid-tier (Better) defined as $300-$500
Entry (Good) defined as $200-$300 in flagship product across lower price point products
62
Product Innovation – Robots
Customer-driven innovation – leveraging technology to meet consumer needs

Multi-robot
Teaming for
Enhanced tandem robotic
Capabilities vacuum and Expandable
with computer mopping RVC
vision/machine capabilities
learning (e.g., directed
(e.g., object room cleaning)
avoidance) Bringing
Best-in-Class
Innovation to
Pickup and
lower prices
Precision Edge
incl Clean Base,
Cleaning
Advanced Nav.

THOUGHTFUL PERSONALIZED
RELIABILITY SUPPORT
INTELLIGENCE CONTROL

63
 3.0

Across product lineup

Digital Innovation is Equally Important
Genius 1.0 | Q3 2020
Genius 2.0 | Q1 2021

Genius 2.0

Genius 1.0

We are turning customer insights into innovations

65
House
Rules

3.0
“Roomba is
done cleaning
the office”

Preferences
Not Programing

66
Collaborative
Intelligence

3.0

Home
Knowledge

67
12/9/2021
v

68
never stops learning
with PrecisionVision Navigation a customer’s robot develops a visual vocabulary for their home,
all while keeping their information safe and secure

69
Roomba j7 and j7+
Thoughtful design to delight the customer

Most Intelligent and Reliable Roomba

• Visual object recognition (with vast library of home
objects) enables Roomba j7 to learn and adapt to Storage solution to
enable refill usage
a changing environment

• Improved mission completion allowing consumers

to clean more frequently and reliably​

• Video streaming capability

• All of this enabled by the most advanced

technology including
• On-board machine learning
• Fastest CPU and most memory on
a Roomba
• Front-facing sensor including
navigation, object detection,
and docking

Texture &
Leather feel 70
Addressing Customer Needs Beyond the RVC
Complementary products add value to help make homes cleaner and healthier

71
Addition of new premium products

BETTER BEST

$499 $999 $1,299 $1,299

AAIR LITE AAIR 3-in-1 Pro AAIR Medical Pro AAIR GAS PRO
For rooms 700 ft2 and below For rooms 1500 ft2 and below For rooms 700 ft2 and below For rooms 700 ft2 and below

99.95% effective down to .1 microns 99.95% effective down to .1 microns 99.95% effective down to .1 microns 99.95% effective down to .1 microns

Removes all the aair lite removes, plus

HEPA H131 odors, VOCs, and more HEPA H131 HEPA H131

HEPA H131

1
72
H13 class according to EN1822 at particle sizes 0.1 micron and above at full fan speed
Air purification market
Today’s Leaders

Air Purifier Consumer Spending

By Price Tier $400+

~20% ~20%
$200-$399

~30% ~30%
$100-$199

$400+ $200-$399 $100-$199 <$100 <$100

73
Source: 2020 U.S. Market, Third-Party Market Data and iRobot
Services Innovation
iRobot Select and other RaaS services continue to scale through 2022

Key Customer Experiences Robot-as-a-Service Subscribers (Global)

iROBOT SELECT – High value, premium robot experience at 50,000
lower upfront cost

PROACTIVE SETUP – Robot setup assistance included 40,000

DEDICATED SUPPORT – Maintaining your home with

Roomba requires members to learn new things, like mapping
& clean and keep-out zones. A dedicated support team is on 30,000
chat, SMS, and on call to help members get setup fast

SMARTCARE – Maintaining your Roomba requires accessory

20,000
replacement … the health of your accessories are tracked in
your membership portal and automatically shipped to
consumers just in time
10,000
PEACE-OF-MIND – Warranty and accidental damage
protection are included in memberships

LOYALTY REWARDS – Eligible upgrades every 3 years to -

get members on the latest technology while earning Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept.
achievements along the way 2020 2020 2020 2021 2021 2021 2021 2021 2021 2021 2021 2021

New service offerings appeal to broad range of consumers and drive recurring revenue
74
 Rapidly Growing Connected Customer Base
Building an increasingly valuable data asset to deliver more consumer benefits

2x+ Connected customers own a range of

products including connected persistent

Global, Connected Customers

30M+
mapping robots with a vast array of
4x digital features and experiences
12.5M

High quantity of connected users

are key to building deep user

3M
understanding in the iRobot

Home Knowledge Cloud

2018 EOY 9/30/21 2024 EOY

* Connected customers defined as individuals who have registered to receive digital communications (in-app messaging, email or both). 75
Customer Support
Transforming customer experience and improving customer satisfaction

PEOPLE PROCESS INITIATIVES

Redesigned agent training and Re-engineered post purchase Voice of the Customer platform
desktop experience (incl. more processes (incl. new order tracking resulting in faster, more strategic
technical staff, knowledgebase experience, concierge services resolution of customer issues (e.g.,
improvement, deeper partnering between experience, enhanced IVR Proactive care)
customer experience and R&D) experience)

Customer experience improvements leading to faster resolution of calls, improved

retention and higher customer service scores

76
Culture of Continuous Innovation

Data Product Services Customer Support

❑ Building unmatched data ❑ Robot innovation (HW/SW) ❑ Robot-As-A-Service to ❑ Elevating Voice of

assets to reinforce consumer bringing best-in-class increase meet consumer need Customer to reach solutions
benefits via robot utility cleaning, navigation, and to “Forget about vacuuming for quickly and at high customer
robot control to the market months” through smart care satisfaction

❑ Growing the install base of

connected consumers and ❑ Using data insights and ❑ Competitive positioning to ❑ Launching initiatives for
consumer/robot data Roomba data connection delivering premium People, and Processes, to
to build valuable adjacent experiences at lower entry make lasting improvements
products prices

Delivering a differentiated ownership experience across all touchpoints

77
THANK
YOU

Most Frequently Cleaned Rooms

(using directed room clean feature)

1. Kitchen
2. Living Room
3. Hallway
4. Dining Room
 D E C E M B E R 9 , 2 0 2 1

INVESTOR DAY

EXECUTING TO
SUPPORT GET,
KEEP & GROW
K I R AN S M I T H
Chief Marketing Officer
We Know the iRobot Customer … Really Well!

We know the existing

We know the consumers
customers that we need
that we need to GET
to KEEP and GROW

80
 Attitudes toward
Cleaning

Most influential
We know the touchpoints
Demographics
iRobot customer
…
really well

Cleaning RVC
Behaviors Behaviors
81
 We now reach our iRobot customer wherever they consume content
The days of mass marketing no longer work in isolation for us

The Past Today*

29%
USE RVCs
today

56%
are female
52%
have $75K+ HH income

Neat
81% ( Freaks
have a pet

50% 54%
Vacuum more than 3
have children under 18 times per week

100% of working media in 2011 100% of working media in 2021 is

was focused on untargeted mass media targeted and 75% is digital
82
* Audience data from 1H 2021
Our Media is More Effective with Relevant
and Contextual Messages

Gyms Elevators Digital Billboards Golf Courses

“Weight”

“Leg Day”

“Furry
Friend”

83
 That’s why we win in
awareness, consideration
and in brand favorability

Purchase
Intent

Favorability

Consideration

Source: iRobot July 2021 vs. Prior Traditional Campaign Activity

RVC Category is Cluttered with a Sea of Sameness
Differentiate on experience, move beyond hardware-centric features & price

85
Our New Brand Positioning Works Harder to
Breakthrough and Connect with the Customer
We now reach our iRobot customer wherever they consume content

86
We Know the Connected Customers We Need to Keep and Grow
Building stronger, enduring partnerships with our connected customers

SOLUTION VALUE
SEEKER MAXIMIZER

TECH ADOPTION

TECH CONFIDENCE

TECH TRUST

88
Our Robust Insights into Our Connected Customers is Unparalleled
Enabling proactive, predictive and personalized marketing based on individual needs

Personalized Robot Health Email

12.5
Robot Health Data

Robot Usage Data

Robot Maintenance Data

MILLION
Personalized Rules
Created by Owners

App Usage Data

Experience Pathing Data

89
Fortifying our customer partnerships by
combining customer and robot data

commerce cloud
interaction studio

service cloud
order management social studio
marketing cloud

Strategize Develop Launch Scale

Gain insights and convert them to present

the right offers for the right customers at the right time

90
Personalized Customer Experience
from Start to Finish
 The search
begins …

1
Personalized homepage
experience

2
 Fine-tuning their search
for the right Roomba

3
 Personalized
emails

Marketing our
other products

4
 Cheerleading throughout

96
 Continuous coaching

97
 Endless upsell and cross-sell opportunities

What if Optimus Grime

emptied itself?
Keep Optimus Grime’s
Performance spot on. Buy more
accessories and save.

7
 GROW Existing Customer Revenue
Includes robots, accessories, adjacent products and services

Existing Customer Revenue UP-SELL

45% (as a percentage of total revenue)
41% 1 Replacement
Robot
40%
36%
35%
32% 32% CROSS-SELL
30% 28%
2 Supplemental
Robot
25%
35%
19% 27%
21%
20% 16%

CROSS-SELL
15%
3 Adjacencies/
Services
10%

12% 13%
5% 11%
9%
6%
0%
UP-SELL
2019 2020
Non-Connected Customer Revenue
2021e
Connected Customer Revenue
2022e 2024e
4 Accessories

iRobot connected customer revenue is an estimate based on timing of customer connectivity to Home App rather than actual sale date.
iRobot non-connected customer revenue is an estimate based on annual survey data for replacement or upgrade purchase activity from existing customer less connected customer revenue. 99
Adding Air Purification Products Increases Cross-Sell Opportunities

Our customer base is already asking for it

100
Drive Better Performance and Excellent ROI from Our
Investments in Tech, Talent and Tactics

TOOLS PEOPLE PROCESS

Over 30+ Technology New Talent & Leadership A new strategy to
Advancements to drive impact power short-
and long-term results

DATA

Fueling Strong Revenue Growth and Accelerated Profitability

101
THANK
YOU

20%
iRobot robot
owners who
connected
their robot to a
voice assistant
 D E C E M B E R 9 , 2 0 2 1

INVESTOR DAY

COMMERCIAL
J E AN J AC Q U E S ( J J ) B L AN C
Chief Commercial Officer
Global Robotic Floorcare Segment 2020
Attractive Market Opportunity
APAC
15%

Americas
$2.5Bn 37%
2016
EMEA
APAC
26% 23% CAGR 48%

EMEA
$1.1Bn 37%

Americas
37%
Global Robotic Floorcare Growth ASP $417
31% 28%
ASP $439 23%
10%

2017 2018 2019 2020

Global segment size excluding China for Robotic Vacuum Cleaners (excl robot mop) >$200. %: year on year growth Source: Third-Party Market Data and iRobot internal estimates 104
Room for Continued Growth

Early
Majority

105
Unambiguous Leadership

Brand equity
#1 RVC Brand

Value creating
Continuous innovation
investments to
maintain our
Strong retail privileged
relationships Go to Market
position

End to End
operational
excellence

106
 2020
Sustained Performance Revenue by Geography
iRobot Leadership
APAC
16%

2016 Americas
EMEA $1,430m 52%
Revenue by Geography 27%

APAC
21%
22% CAGR
Americas
$645m 53%
EMEA
25%
Annual Revenue Growth

35%
24%
18%
11%

2017 2018 2019 2020

107
iRobot’s 2016 and 2020 APAC revenue includes China
Providing Value at Every Step of the Customer Journey
Lifetime Value Strategy

OFFLINE AND
ONLINE RETAIL

DIRECT TO
CONSUMER

108
 • Full detail PDPs
• A+ content
• Conversion metrics
• High refresh frequency
• Permanent & Event visibility

Omnichannel
Retail – Online
~60% sales online*
Premium Execution

• Amazon preferred brand

• Platform management excellence
• Alexa partnership
• Joint advertising
• Best-selling products
109
* iRobot estimate of revenue for the first nine months of 2021 from our own website and app, dedicated e-commerce websites and the online arms of traditional brick and mortar retailers.
Omnichannel
Retail – Offline
430+ retail accounts
Yodobashi, flagship store Darty, Valence store
~40% sales online
20,000 stores
450+ field representatives
and demonstrators • Extensive global network
50,000+ hrs of training in 2021 • Leading share of shelf
• High visibility across store formats
• Consistent brand presentation globally
Premium Execution
• Premium merchandising in top stores
• Media partnerships and preferential holiday placement

110
* iRobot estimate of revenue for the first nine months of 2021 from our own website and app, dedicated e-commerce websites and the online arms of traditional brick and mortar retailers.
 Foundations

Traffic x CVR x AOV

+75% +22% +3%

Dedicated media New content Exclusive offers

Page flow enhancement Bundles
Website engine improvements
Direct to Shopping delighters

Consumer
Source: Jan-Sep’2021 vs. Jan-Sep’2019, North America

Extensions

New offers Personalization Repeat purchases

111
Subscriptions & Services

2019 2020 2021 2022

Robot Smart Plan (Japan) iRobot Select (USA) Robot rental pilot (DE) New markets

112
`

` `

`
`

`
`
`

iRobot & the Smart Home

`

Product Diversification
`

` `

`
`

` `

`
`
`

`
`

113
GLOBAL APPROACH
LOCAL STRATEGIES
 United States
Revenue Major Customers
($ in millions)
$800 $745

$604
$600 $561
$528

$428
$400

$200

$-
2018 2019 2020 9 mos 2020 9 mos 2021

iRobot holding 8 of top 10 models

Highlights
• 75% segment share (2020)
• 90%+ premium segment share (2020)
iRobot iRobot Shark iRobot Shark iRobot iRobot iRobot iRobot iRobot
• Partner with key retailers to create value All Roomba All Roomba UR1005 Roomba Roomba Braava Roomba Roomba
Other I7+ Other i3+ AE 675 S9+ M6 E5 692
with digital features
• Scale subscription & services 1 2 3 4 5 6 7 8 9 10
• Deepen customer relationships 21% 10% 7% 5% 5% 5% 4% 4% 4% 3%
• Develop new channels Source: Third-party market data and iRobot, through August 2021, $200+ USD

* Segment Share Source: 2020 market size for Vacuum Cleaners >$200 (Third-Party Market Data and iRobot internal estimates). 115
 EMEA
Revenue Major Customers
($ in millions)
$500

$386
$400 $358
$340
$312
$300
$252

$200

$100

$-
2018 2019 2020 9 mos. 2020 9 mos. 2021

Highlights iRobot holding 6 of top 10 models

• Leader with 50% segment share (2020) in a crowded,

highly competitive market
• Tailored, omnichannel go-to-market approaches
iRobot Roborock Roborock iRobot iRobot iRobot Ecovacs iRobot Roborock iRobot
Roomba S5 Max S6 MAXV Roomba Roomba Roomba OZMO 950 Braava S6 Roomba
• Partner with key retailers to create value with I7+ E5 976 I7 M6 Pure combo
digital features
1 2 3 4 5 6 7 8 9 10
• Continue creating unmatched in-store experiences
7% 6% 5% 4% 4% 4% 3% 2% 2% 2%
• Grow DTC
•
Source: Third-party market data and iRobot, through August 2021, $200+ USD
Expand our relationships with connected customers
116
* Segment Share Source: 2020 market size for Vacuum Cleaners >$200 (Third-Party Market Data and iRobot internal estimates).
 Japan
Revenue Major Customers
($ in millions)

$250

$193
$200
$161 $155
$150 $133 $136

$100

$50

$-
2018 2019 2020 9 mos. 2020 9 mos. 2021

Highlights iRobot holding 8 of top 10 models

• 76% segment share (2020)

• Partner with key retailers to create value with

digital features Roborock iRobot iRobot iRobot iRobot iRobot iRobot iRobot iRobot Panasonic
Trade Roomba Roomba Roomba Roomba Trade Roomba Braava Roomba MC
• Increase household adoption Model E5 I7+ i3+ S9+ Model i3 M6 I7 RSF1000
• Scale Robot Smart Plan subscription program
1 2 3 4 5 6 7 8 9 10
• Expand our relationships with connected customers
15% 12% 11% 9% 8% 7% 6% 5% 5% 2%
Source: Third-party market data and iRobot, through August 2021, $200+ USD

* Segment Share Source: 2020 market size for Vacuum Cleaners >$200 (Third-Party Market Data and iRobot internal estimates). 117
Summary
• We continue to evolve
our capabilities to support
the omnichannel requirements of
our retail partners worldwide
• We expect robust expansion of
our DTC channel through
repeat purchases
• We are ready to leverage our
selling engine to successfully
diversify our product portfolio
• We are well positioned
to maintain category leadership
and drive growth, including in
new markets and new categories

118
THANK
YOU

150
Square feet
covered per
average
mission
 D E C E M B E R 9 , 2 0 2 1

INVESTOR DAY

SUPPLY CHAIN &

OPERATIONS
C H AR L E S K I R O L
Chief Digital Business & Supply Chain Officer
FAST FACTS
People in IRBT operations Robots shipped (2021 YTD)

Manufacturing partners in China Accessories shipped (2021 YTD)

Manufacturing partners in Malaysia robots produced (capacity)

Number of Suppliers Supplier acknowledgment of

iRobot Code Of Conduct (2021 YTD)

Number of Connected Customers i R O B O T I N V E S T O R D A Y 2 0 2 1 | 121

Supply Chain “Big Rocks”

MITIGATE
Successfully Navigate Current
Macro Supply Chain Challenges

GROWTH
Support GET & GROW
Elements of Our Strategy

DISRUPT
Product Flexibility, Product Quality
and Time to Market

122
Supply Chain “Big Rocks”

MITIGATE
Successfully Navigate
Current Macro Supply
Chain Challenges

123
 Navigate Current
Macro Supply Chain
Challenges

Semiconductor Chip Rising Raw

Shortage Material Costs

Increased Oceanic Higher Air

Transport Costs Freight Costs
Solving for Short-Term Supply Constraints while
Building Long-Term Supply Flexibility

Advanced Risk
Supply Management Planning
Diversification
Significant Dual Sourcing
Buying Ahead –
for Strategic Components
Predictability Supply
Continuity
+ Supply
Resilience
Extend Forecast
Visibility
Increase Raw Materials New Product Introduction
Safety Stock Multi-source Investments

Diversified | Regional Sourcing

Strategy: China, Malaysia

Opportunistic
Finished Goods Inventory
Spot Buys
Inventory Commitments
125
Two Major Plays for Increased Continuity & Resiliency
Safety Stock and Dual Qualifications Drive Medium to Long Term Recovery and Supply Chain Stability

Safety Stock Build Plan Critical Component Dual Sourcing

$30

All values in $M

$25
Target
3%
11%
$20
Where we are

$15

$10

$5 86%

Electronics & Resins

$-
1Q21 2Q21 YE 2021 YE 2022 YE 2023 Dual Sourcing In Place Not Critical Alternate Sources Est. in '22
126
Supply Chain “Big Rocks”

GROWTH
Support GET & GROW
Elements of Our Strategy

127
Scaling DTC
Driving different supply chain requirements

Current 2024

Pallet 3PL
Pick/Pack 3PL
Skilled Reverse 3PL
Multi-functional 3PL

2024
➢ Unified Commerce ➢ Automated Order Fulfillment

➢ Same Day Delivery ➢ Real Time Visibility

➢ Multi-use Facilities Set For Growth ➢ Reduced Transit Times

Improved Customer Service | Reduced Transportation Costs | Supply Chain Risk Reduction
128
Commitment to Deliver YOY Operational Efficiencies
Flexibility for accelerating investment, offsetting unanticipated cost headwinds or delivering profit upside

OPPORTUNITIES

IDEAS

Target 3% – 5% savings
Effort vs
Cost Benefit on total annual
In
cost
Funnel
base
Progress

ROI Assessment

Project Planning
& Prioritization

Move Fast, Identify Costs Savings,

INNOVATE AND REINVENT
129
Supply Chain “Big Rocks”

DISRUPT
Product Flexibility, Product
Quality and Time to Market

130
 Ramping Malaysia Volumes Reduces
Tariff & Geographic Risks
100% 90%+
✓ Dual Manufacturing Locations In-place ~85%

80%

60%
52%
Focus Shifts to:
Component Localization 40%

Leverage Competition 25%

Scale Volume 20%

Supplier Lean 6 Sigma

2%
Leverage Common Product Platforms 0%
2019 2020 2021 2022 2023
Malaysia - % of NA Volume Malaysia Cost Premium

131
Accelerating Supply Chain Strategies to Enhance
Product Flexibility, Product Quality & Time to Market

Modular Architecture & Design: Late Point ID:

• Platforming • Malaysia
• Bill of Material • Additional location
• Bill of Process under consideration

Manufacturing Agility: Supply Chain Integrations:

• China • Cost Synergies
• Malaysia • Optimized
• Additional location under Manufacturing
consideration • Logistics Leverage

132
Supply Chain “Big Rocks”

MITIGATE
Successfully Navigate Current
Macro Supply Chain Challenges

GROWTH
Support GET & GROW
Elements of Our Strategy

DISRUPT
Product Flexibility, Product Quality
and Time to Market

133
Summary

• We are successfully navigating

through a very challenging 2021
• We move forward with an offensive
mindset across our operations
organization
• We will enter 2022 with greater
supply chain continuity and resiliency
• Implementation of disruptive supply
chain strategies will support
execution of our strategy and
underpin a new era of profitable
growth

134
THANK
YOU

Persistent Mapping Floor Care Robots

2.7 40%
Average Rooms Missions use
Cleaned Directed Room Clean
 D E C E M B E R 9 , 2 0 2 1

INVESTOR DAY

FINANCIAL
UPDATE
J U L I E Z E I L E R
EVP & Chief Financial Officer
Recap
2021 Investor Day

Successful differentiation
through software intelligence

Stronger, direct relationships with our

connected customers

Product diversification

Navigating a stressed
supply chain environment

137
Q321 Results Highlights & 2021 Outlook
2021 Outlook as of 10/27/21

Q321 PERFORMANCE 2021 OUTLOOK

REVENUE GROWTH OF 7% TO $441 MILLION EXPECTING FY21 REVENUE BETWEEN $1.555B AND
15% growth in EMEA, 5% in U.S. and 2% in Japan $1.59B
14% growth from mid/premium robots FY21 revenue growth of 9% to 11%

DTC revenue grew 13% Q421 revenue between $445 million to $480 million

Gross robot ASPs +3%

ANTICIPATING FY21 GROSS PROFIT MARGIN OF 36%
Q421 gross margin expected to range from 30% - 32%
GROSS PROFIT MARGIN* OF 37%
ANTICIPATING FY21 OPEX OF ~$523 MILLION
Q421 opex expected to be in high $160 million range
OPERATING INCOME* OF $48 MILLION, 11% OI MARGIN*
EXPECTING FY21 OPERATING PROFIT RANGING
EPS* OF $1.67 FROM $36 MILLION TO $55 MILLION
Q421 operating loss expected to range from ($17 million) to ($36
million)
CASH AND SHORT-TERM INVESTMENTS OF $248 MILLION,
DOWN $168 MILLION ANTICIPATING FY21 EPS BETWEEN $1.15 TO $1.74
$100m ASR plus cash outflows associated with AR and inventory Q421 net loss per share expected to range from ($0.63) to ($1.24)
increases
* Non-GAAP

Acquisition of Aeris not expected to materially

impact FY21 outlook 138
 RAW MATERIAL SEMICONDUCTOR
COSTS CHIP SHORTAGE

TARIFFS TRANSPORATION

COVID-19 PANDEMIC COMPETITION

Transformations

140
Our Revenue Growth
Prospects Are Bright

1 Household Penetration Remains Low Category growth will remain very healthy

2 We continue to fuel our innovation engine Our value proposition will continue to resonate

3 Our retail partnerships remain strong We will continue to win new customers

4 We are building strong, enduring

relationships with our customers
More customers spending more
money with us directly

5 We are investing to
diversify our product portfolio
Further increases existing customer revenue
and brings new customers to iRobot
141
Revenue
Anticipate accelerating top-line growth in 2H22 that continues into 2023 and 2024
$3,000

$2,425 - $2,600
$2,500
16% - 18%
CAGR
$2,000
$1,800+

$1,550 - $1,590
$1,500 $1,430

+9%
$1,000 to
+11%
$656 22%
$500 CAGR

$-
2016 2020 2021e 2022e 2024e

$ in millions
Retail DTC

Retail will still generate the majority of revenue; DTC anticipated to grow to >25% of total revenue

142
 GET Adding New Connected Customers
Key Initiatives & Milestones

Innovation
Software underpins a compelling
value proposition across a range
of price points that enable us to
keep expanding our connected
Omnichannel Retail customer base
Drives substantial majority of
new connected customers

iRobot Select
Expands our ability to win first-time
buyers, particularly entry level and
value-conscious consumers

~60% of total revenue will come

from new customers by 2024 143
KEEP Happy Customers Will Spend More Directly with Us
Key Initiatives & Milestones

30m+
Connected customers (2024)

New Genius features &

Customer care further
90%
Utilization Rate
functionality increase New CRM capabilities
amplifies engagement elevates the iRobot
engagement and
experience
utilization

144
 GROW Existing Customer Revenue
Includes robots, accessories, adjacent products and services

Existing Customer Revenue UP-SELL

45% (as a percentage of total revenue)
41% 1 Replacement
Robot
40%
36%
35%
32% 32% CROSS-SELL
30% 28%
2 Supplemental
Robot
25%
35%
19% 27%
21%
20% 16%

CROSS-SELL
15%
3 Adjacencies/
Services
10%

12% 13%
5% 11%
9%
6%
0%
UP-SELL
2019 2020
Non-Connected Customer Revenue
2021e
Connected Customer Revenue
2022e 2024e
4 Accessories

iRobot connected customer revenue is an estimate based on timing of customer connectivity to Home App rather than actual sale date.
iRobot non-connected customer revenue is an estimate based on annual survey data for replacement or upgrade purchase activity from existing customer less connected customer revenue. 145
 The Lifetime Value of an iRobot Connected Customer
Attractive multi-year economics

GET GET, KEEP, GROW SUBSCRIPTION

Customer A Customer B Customer C
Non-connected Connected Customer (Future)

Initial Multi-Year
Initial
Purchase DTC Total Lowers the barrier for
Purchase
Purchases customer acquisition
Revenue* $250 Revenue* $250 $375+ $625+

White glove care &

Gross Margin Mid-30% Low to Low to turnkey convenience
Gross Margin Mid-30%
Mid-40% Mid-40%

Working Media Intensity Moderate Working Media Intensity Moderate Low --

Multiple opportunities to
expand the relationship
Single purchase primarily at retail Initial purchase primarily at retail
Highly transactional Relationship driven with personalized customer benefits
Superior multi-year
Minimal visibility into future purchases Customer purchases other products directly from iRobot economics for iRobot
Proven economics at scale More attractive economics for iRobot

* Reflects average iRobot revenue from a retail transaction. Economic impact determined using range of scenarios for DTC purchases of robots and accessories. 146
 Direct-to-
Consumer
Channel
Framework
for driving
improved
gross SUBSCRIPTIONS CROSS-SELL & UPSELL FULFILLMENT SCALE &
EFFICIENCY

margins
over time

SCALE VOLUME IN HIGHER SOFTWARE CONTENT & MANUFACTURING SUPPLY

MALAYSIA COST-OPTIMIZED HARDWARE CHAIN EFFICIENCY

147
FY21 Cost Headwinds Expected to Persist in FY22 and Then Dissipate

Cost Headwinds
($ in millions)
Key Contributors
$120 ~700 basis points impact on
2021e gross margin • Modest expected savings in component costs
in FY22 with stabilization thereafter
~500 basis points impact on
$100
~2022e gross margin
• Oceanic transportation costs anticipated to
remain elevated in FY22, more than offsetting
lower expected air freight costs
$80
• Meaningful drop in expected tariff costs in
FY22
$60

$40

$20 Tariff Transportation Semiconductor Raw Materials

Costs Costs Costs Inflation

$-
2021e 2022e

Raw Materials Inflation Semiconductor Costs Transportation Costs Tariff Costs

148
Non-GAAP Gross Margin
Meaningful improvement as cost headwinds subside
Key Contributors
Non-GAAP Gross Profit Margin • Malaysia at scale
50%
• Substantially lower tariff exposure
• DTC growth and optimization
Cost Headwinds Cost Headwinds ~43%
40% ~700 basis points ~500 basis points • COGs efficiencies
~36% ~37%
• Operations team overhead leverage
30%
• Component cost inflation continues into FY22
but dissipates thereafter
20% • Inflated transportation costs in FY22 but
normalize thereafter

10%
• Pricing and promotion

0%
2021e 2022e 2024e
Limited gross margin improvement
expected in FY22
Reflects only the estimated impact of FY21 and FY22 cost headwinds on estimated FY21 and FY22 non-GAAP gross profit margin. See slide 149 for
additional detail on FY21 and FY22 cost headwinds.
149
Non-GAAP Operating Expenses
Non-GAAP Operating Expenses Key Contributors
(as a % of Total Revenue)
40% • R&D benefits from “Platform-based”
hardware and software development while
35% 33% - 34% 33% - 34% leveraging engineering resources in lower-
30% - 31% cost geographies
30%
~10% ~10% • Working media leverage as existing
~9% connected customer revenue growth benefits
25% from CRM efficiencies

20% • Scalable commercial foundation to support

entry into new adjacencies
15% ~18% to ~18% to
19%
• Most administrative functions and workplace
~19% ~17%
trends sized for growth
10%

5% Pragmatic spending in FY22 to

~5% ~5% ~4.5% minimize impact of cost headwinds
0%
2021e 2022e 2024e
G&A S&M R&D

150
Non-GAAP Operating Income Margin
15%

Cost Headwinds Impact ~12% to ~13%

Operating Profitability
12% Tariffs
Transport Costs
Semiconductor Costs
Raw Materials Inflation
9%

6%

3%
~2% to ~3% ~3%

0%
2021e 2022e 2024e
Reflects only the estimated impact of FY21 and FY22 cost headwinds on estimated FY21 and FY22 non-GAAP operating income margin. See slide 149
for additional detail on FY21 and FY22 cost headwinds.

Steady improvement in gross margins combined with operating

leverage yields meaningful improvement in OI margin
151
Non-GAAP Diluted EPS
Non-GAAP Diluted EPS Key Contributors
• Minimal other expense annually
$10.00
$7.50 to $9.25 – Interest income offset by hedging fees
• Tax rate increases from mid-single digit in
2022 up to 20% – 21% in 2024
$7.50
• FY22 shares outstanding of ~28m expected
to rise to 29m+ in 2024
$5.00

$2.50 $1.75+
$1.15 - $1.74

Significant 2H22 EPS expansion

$-
2021e 2022e 2024e expected with revenue acceleration

152
Cash Generation & Capital Structure Considerations

Excellent cash generation Minimal capital Prioritize investments to fund

characteristics intensity growth initiatives

Opportunistic share Work with Board to

repurchase optimize capital structure

153
Long-Term Financial Model (2024)
Non-GAAP

16% – 18%
$2.4B to $2.6B REVENUE
CAGR

Cost headwinds persist

~43% GROSS PROFIT through FY22 with
MARGIN improvement in FY23

OPERATING Consistent
~12% to ~13% PROFIT leverage
MARGIN

Substantial
$7.50 to $9.25 EPS* acceleration

154
* Based on 29m+ diluted shares outstanding.
THANK
YOU

2.3B 96.5B
Missions Minutes
Run Spent Cleaning
APPENDIX
GAAP – NON-GAAP
RECONCILIATIONS
 Non-GAAP Financial Measures

Our non-GAAP financial measures reflect adjustments based on the following items.

Amortization of acquired intangible assets: Amortization of acquired intangible assets consists of amortization of intangible assets including completed technology, customer
relationships, and reacquired distribution rights acquired in connection with business combinations. Amortization charges for our acquisition-related intangible assets are
inconsistent in size and are significantly impacted by the timing and valuation of our acquisitions. We exclude these charges from our non-GAAP measures to facilitate an
evaluation of our current operating performance and comparisons to our past operating performance.

Net Merger, Acquisition and Divestiture (Income) Expense: Net merger, acquisition and divestiture (income) expense primarily consists of transaction fees, professional
fees, and transition and integration costs directly associated with mergers, acquisitions and divestitures. It also includes business combination adjustments including
adjustments after the measurement period has ended. The occurrence and amount of these costs will vary depending on the timing and size of these transactions. We
exclude these charges from our non-GAAP measures to facilitate an evaluation of our current operating performance and comparisons to our past operating performance.

Stock-Based Compensation: Stock-based compensation is a non-cash charge relating to stock-based awards. We exclude this expense as it is a non-cash expense, and
we assess our internal operations excluding this expense and believe it facilitates comparisons to the performance of other companies.

IP Litigation Expense, Net: IP litigation expense, net relates to legal costs incurred to litigate patent, trademark, copyright and false advertising infringements, or to oppose
or defend against interparty actions related to intellectual property. Any settlement payment or proceeds resulting from these infringements are included or netted against
the costs. We exclude these costs from our non-GAAP measures as we do not believe these costs have a direct correlation to the operations of our business and may vary
in size depending on the timing and results of such litigations and settlements.

Gain/Loss on Strategic Investments: Gain/loss on strategic investments includes fair value adjustments, realized gains and losses on the sales of these investments and
losses on the impairment of these investments. We exclude these items from our non-GAAP measures because we do not believe they correlate to the performance of our
core business and may vary in size based on market conditions and events. We believe that the exclusion of these gains or losses provides investors with a supplemental
view of our operational performance.

Income tax adjustments: Income tax adjustments include the tax effect of the non-GAAP adjustments, calculated using the appropriate statutory tax rate for each
adjustment. We reassess the need for any valuation allowance recorded based on the non-GAAP profitability and have eliminated the effect of the valuation allowance
recorded in the U.S. jurisdiction. We also exclude certain tax items that are not reflective of income tax expense incurred as a result of current period earnings. These
certain tax items include, among other non-recurring tax items, impacts from the Tax Cuts and Jobs Act of 2017 and stock-based compensation windfalls/shortfalls. We
believe disclosure of the income tax provision before the effect of such tax items is important to permit investors' consistent earnings comparison between periods.

158
 GAAP-Non-GAAP Reconciliation
Q321 and First Nine Months 2021 GAAP Actuals to Q321 and First Nine Months 2021 Non-GAAP Actuals
iRobot Corporation
Supplemental Reconciliation of GAAP Actuals to Non-GAAP Actuals
(in thousands, except per share amounts)
(unaudited)

For the three months ended For the nine months ended
For the three months ended For the nine months ended October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020
October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 GAAP Income Tax Expense $ 9,867 $ 29,982 $ 8,083 $ 39,156
GAAP Revenue $ 440,682 $ 413,145 $ 1,109,539 $ 885,563 Tax effect of non-GAAP adjustments (8,905) (12,119) (5,995) (15,842)
Other tax adjustments 156 290 2,929 (888)
GAAP Gross Profit $ 162,754 $ 198,841 $ 424,674 $ 454,808
Non-GAAP Income Tax Expense $ 1,118 $ 18,153 $ 5,017 $ 22,426
Amortization of acquired intangible assets 225 225 675 1,695
Stock-based compensation 284 331 929 1,150
GAAP Net Income $ 57,216 $ 93,252 $ 61,901 $ 133,733
Tariff refunds (270) - (270) (40,017)
Amortization of acquired intangible assets 476 481 1,336 2,459
Non-GAAP Gross Profit $ 162,993 $ 199,397 $ 426,008 $ 417,636
Non-GAAP Gross Margin 37.0% 48.3% 38.4% 47.2% Stock-based compensation 2,073 9,843 16,195 20,904
Tariff refunds (270) - (270) (40,017)
GAAP Operating Expenses $ 122,256 $ 117,847 $ 380,829 $ 323,756 Net merger, acquisition and divestiture expense (income) 635 - 1,274 (1,241)
Amortization of acquired intangible assets (251) (256) (661) (764) IP litigation expense, net 4,569 1,607 9,292 3,360
Stock-based compensation (1,789) (9,512) (15,266) (19,754) Restructuring and other - 200 213 2,063
Net merger, acquisition and divestiture (expense) income (635) - (1,274) 566 Gain on strategic investments (27,141) (43,480) (26,929) (43,567)
IP litigation expense, net (4,569) (1,607) (9,292) (3,360) Income tax effect 8,749 11,829 3,066 16,730
Restructuring and other - (200) (213) (2,063) Non-GAAP Net Income $ 46,307 $ 73,732 $ 66,078 $ 94,424
Non-GAAP Operating Expenses $ 115,012 $ 106,272 $ 354,123 $ 298,381
Non-GAAP Operating Expenses as a % of Non-GAAP Revenue 26.1% 25.7% 31.9% 33.7% GAAP Net Income Per Diluted Share $ 2.06 $ 3.27 $ 2.17 $ 4.69
Amortization of acquired intangible assets 0.02 0.02 0.05 0.08
GAAP Operating Income $ 40,498 $ 80,994 $ 43,845 $ 131,052
Stock-based compensation 0.08 0.34 0.57 0.73
Amortization of acquired intangible assets 476 481 1,336 2,459
Tariff refunds (0.01) - (0.01) (1.40)
Stock-based compensation 2,073 9,843 16,195 20,904
Net merger, acquisition and divestiture expense (income) 0.02 - 0.04 (0.04)
Tariff refunds (270) - (270) (40,017)
IP litigation expense, net 0.16 0.06 0.33 0.12
Net merger, acquisition and divestiture expense (income) 635 - 1,274 (566)
IP litigation expense, net 4,569 1,607 9,292 3,360
Restructuring and other - - 0.01 0.07
Restructuring and other - 200 213 2,063 Gain on strategic investments (0.98) (1.52) (0.95) (1.53)
Non-GAAP Operating Income $ 47,981 $ 93,125 $ 71,885 $ 119,255 Income tax effect 0.32 0.41 0.11 0.59
Non-GAAP Operating Margin 10.9% 22.5% 6.5% 13.5% Non-GAAP Net Income Per Diluted Share $ 1.67 $ 2.58 $ 2.32 $ 3.31

Number of shares used in diluted per share calculation 27,803 28,539 28,475 28,502

159
GAAP-Non-GAAP Reconciliation
Full-Year 2020 and Full-Year 2019 GAAP Actuals and Full-Year 2020 and Full-Year 2019 Non-GAAP Actuals
iRobot Corporation
Supplemental Reconciliation of GAAP Actuals to Non-GAAP Actuals
(in thousands, except per share amounts)
(unaudited)

For the twelve months ended For the twelve months ended

January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019
GAAP Income Tax Expense $ 40,847 $ 13,533
GAAP Revenue $ 1,430,390 $ 1,214,010
Tax effect of non-GAAP adjustments (12,016) 4,648
Other tax adjustments (635) 6,928
GAAP Gross Profit $ 670,229 $ 543,927 Non-GAAP Income Tax Expense $ 28,196 $ 25,109

Amortization of acquired intangible assets 1,920 11,721

GAAP Net Income $ 147,068 $ 85,300
Stock-based compensation 1,511 1,486 Amortization of acquired intangible assets 2,912 12,772
Tariff refunds (36,486) - Stock-based compensation 29,975 23,744

Non-GAAP Gross Profit $ 637,174 $ 557,134 Tariff refunds (36,486) -

Net merger, acquisition and divestiture expense (income) (1,241) 466
Non-GAAP Gross Margin 44.5% 45.9%
IP litigation expense, net 5,444 2,218
Restructuring and other 2,073 -

GAAP Operating Expenses $ 523,907 $ 457,309 Gain on strategic investments (43,817) (8,904)
Income tax effect 12,651 (11,576)
Amortization of acquired intangible assets (992) (1,051)
Non-GAAP Net Income $ 118,579 $ 104,020
Stock-based compensation (28,464) (22,258)
Net merger, acquisition and divestiture (expense) income 566 (466) GAAP Net Income Per Diluted Share $ 5.14 $ 2.97
Amortization of acquired intangible assets 0.10 0.44
IP litigation expense, net (5,444) (2,218)
Stock-based compensation 1.05 0.83
Restructuring and other (2,073) - Tariff refunds (1.28) -
Non-GAAP Operating Expenses $ 487,500 $ 431,316 Net merger, acquisition and divestiture expense (income) (0.04) 0.01

Non-GAAP Operating Expenses as a % of Non-GAAP Revenue 34.1% 35.5% IP litigation expense, net 0.19 0.08
Restructuring and other 0.07 -
Gain on strategic investments (1.53) (0.31)
GAAP Operating Income $ 146,322 $ 86,618 Income tax effect 0.44 (0.40)
Amortization of acquired intangible assets 2,912 12,772 Non-GAAP Net Income Per Diluted Share $ 4.14 $ 3.62

Stock-based compensation 29,975 23,744

Number of shares used in diluted per share calculation 28,618 28,735
Tariff refunds (36,486) -
Net merger, acquisition and divestiture expense (income) (566) 466
Section 301 Tariff Costs
IP litigation expense, net 5,444 2,218
Section 301 tariff costs $ - $ 37,862
Restructuring and other 2,073 - Impact of Section 301 tariff costs to gross and operating margin (GAAP &
Non-GAAP Operating Income $ 149,674 $ 125,818 non-GAAP) -% (3.1)%
Impact of Section 301 tariff costs to net (loss) income per diluted share
Non-GAAP Operating Margin 10.5% 10.4% (GAAP & non-GAAP) $ - $ (1.32)

160
GAAP-Non-GAAP Reconciliation
2021 Outlook and Long-Term Financial Model for 2022 and 2024 (Gross Profit and Operating Expense)

FY-21 FY-22 FY-24

Revenue $1.555-$1.590 billion $1.800+ billion $2.425-$2.600 billion

GAAP Gross Profit $556 - $576 million ~$657+ million $1.033 - $1.113 billion
Amortization of acquired intangible assets ~$1 million ~$1 million -
Stock-based compensation ~$1 million ~$2 million ~$2 million
Tariff refunds ---
Total adjustments ~$2 million ~$3 million ~$2 million
Non-GAAP Gross Profit $558 - $578 million ~$660+ million $1.035 - $1.115 billion

FY-21 FY-22 FY-24

GAAP Operating Expenses ~$558 - $559 million ~$648 - $643 million ~$804 - $834 million
Amortization of acquired intangible assets ~$0.7 million ~$3 million ~$4 million
Stock-based compensation ~$22.6 million ~$33 million ~$43 million
Net merger, acquisition and divestiture
expense (income) ~$1.3 million - -
IP litigation expense, net ~$11.2 million ~$7 million ~$7 million
Restructuring and other ~$(0.1) million - -
Non-GAAP Operating Expense $522 - 523 million $600 - 605 million $750 - 780 million

161
GAAP-Non-GAAP Reconciliation
2021 Outlook and Long-Term Financial Model for 2022 and 2024 (Operating Income and Net Income Per Diluted Share)

FY-21 FY-22 FY-24

GAAP Operating (Loss) Income ($1) - $17 million ~$9 - $14 million ~$229 - $279 million
Amortization of acquired intangible assets ~$1.7 million ~$4 million ~$4 million
Stock-based compensation ~$23.6 million ~$35 million ~$45 million
Tariff refunds ---
Net merger, acquisition and divestiture
expense (income) ~$1.3 million - -
IP litigation expense, net ~$11.2 million ~$7 million ~$7 million
Restructuring and other ~($0.1) million - -
Total adjustments ~$37.7 million ~$46 million ~$56 million
Non-GAAP Operating Income $36 - $55 million $55 - $60 million $285 - $335 million

FY-21 FY-22 FY-24

GAAP Net Income Per Diluted Share $0.81 - $1.37 $0.24+ $5.87 - $7.60
Amortization of acquired intangible assets ~$0.06 ~$0.14 ~$0.14
Stock-based compensation ~$0.84 ~$1.25 ~$1.54
Net merger, acquisition and divestiture
expense (income) ~$0.04 - -
IP litigation expense, net ~$0.39 ~$0.25 ~$0.24
Restructuring and other - - -
Gain on strategic investments ~($0.95) - -
Income tax effect ($0.04) - ($0.01) ~($0.14) ($0.29) - ($0.27)
Total adjustments $0.34 - $0.37 ~$1.51 $1.63 - $1.65
Non-GAAP Net Income Per Diluted Share $1.15 - $1.74 $1.75+ $7.50 to $9.25

Number of shares used in diluted per share

calculations ~28.2 million ~27.9 million ~29.2 million

162