Turtle Beach (HEAR) Oppenheimer 28th Annual Technology, Internet & Communications Conference summary

Strategic business transformation and product portfolio

• Shifted from a headset-focused business to a more diversified portfolio, now approaching a 60/40 split between headsets and other categories, driven by SKU rationalization and the PDP acquisition.

• Successfully launched new products on advanced chipsets, improving cost structure and functionality for gamers.

• PDP acquisition brought complementary expertise and synergies, enhancing the company's position in controllers.

• Anticipates growth from upcoming hardware cycles, including Nintendo Switch 2, Grand Theft Auto VI, and future Microsoft and Sony releases.

Supply chain and tariff management

• Proactively shifted production from China to Vietnam to mitigate tariff impacts, with only 15% of U.S. production remaining in China after Q2.

• Bulked up inventory ahead of tariff increases to minimize customer and business impact.

• Ongoing supply chain adjustments and cost management are factored into current guidance.

Product categories and growth opportunities

• Expanded into four major categories: headsets, controllers (including specialty), PC peripherals, and simulation (flight and race sim), with strong organic and M&A-driven growth.

• Holds over 20% share in the flight sim category and is expanding the race sim portfolio.

• Sees growth opportunities across all categories, supported by new hardware and major game launches.