Slide 1: Investor Presentation
INVESTOR PRESENTATION NASDAQ: TBCH | MARCH 12, 2026
Slide 2: Safe Harbor Statement & Important Information
SAFE HARBOR STATEMENT & IMPORTANT INFORMATION Forward - Looking Information and Statements This present ation, including the appendix, includes forward -looking information and statements within the meaning of the federal securities laws . Except for historical information contained in this release,
Slide 3: Welcome to Turtle Beach Gaming
WELCOME TO TURTLE BEACH GAMING Named a Top 5 Consumer Electronics Brand for Gaming Hardware & Peripherals (1) 1. Time.com October 2024 / https://time.com/collection/worlds -best -brands -2024 3
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Continued Market Leadership & Innovation Operational Excellence in the Growing Games Industry Expanding Brand Reach Strong Margin Expansion Disciplined & Balanced Capital Allocation Strategy Experienced Leadership with Proven Commitment to Enhancing Shareholder Value 4
Slide 5: Turtle Beach Is…
TURTLE BEACH IS… THE BEST -SELLING GAMING HEADSET BRAND for the past 16 -years (1) , and one of the most recognized brand names in gaming. A TOP 5 GAMING ACCESSORIES LEADER in the $11.2B multi -category global gaming accessories market. (2) • Gaming Headsets Life -To-Date ~86 -million Turtle Beach h
Slide 6: Industry Fundamentals
INDUSTRY FUNDAMENTALS Billy/Veenu to Review KEY DYNAMICS & GROWTH DRIVERS WITHIN GAMING & ACCESSORIES • An Expanding Global Gaming Market: The global gaming market is growing, fueling continued demand for high -quality gaming accessories • Technological Advancements: Continuous advancements in techn
Slide 7: The Gaming Market Continues Growing
THE GAMING MARKET CONTINUES GROWING EXPECTING STRONG GROWTH IN THE VIDEO GAME SECTOR (1) • Market growth and higher spending in 2026 is driven by an improving console and content environment . • The Switch 2 debuted in June 2025 and ended the year as the fastest -selling home console in U.S. history
Slide 8: Unlocking Potential in the $11.2 Billion Gaming Accessories Market
UNLOCKING POTENTIAL IN THE $11.2 BILLION GAMING ACCESSORIES MARK ET STRENGTHENING TURTLE BEACH’S POSITION AS A LEADING 3RD PARTY GAM ING ACCESSORIES MAKER Headsets Controllers PC Peripherals Simulation $2.9B $3.0B $3.9B $1.4B Market Market Market Market Continue Leadership in Continue Growth in Cont
Slide 9: The Market Leader in Gaming Headsets, Including First Party
THE MARKET LEADER IN GAMING HEADSETS, INCLUDING FIRST PARTY FOR THE PAST 16 YEARS & COUNTING #1 GAMING HEADSET (1) #1 OVERALL SHARE POSITION (1) PROVIDER FOR XBOX & PLAYSTATION HIGHEST REVENUE & UNIT SHARE STRONG BRAND & REPUTATION AMONG GAMERS, RETAILERS, GAMING INDUSTRY PRODUCT INNOVATION WITH UNI
Slide 10: Creative Platform
CREATIVE PLATFORM We’re serious about making the best gear on the planet to keep the gaming world unserious. 10
Slide 11: A Brand & Consumer Transformation
A BRAND & CONSUMER TRANSFORMATION Expanded Brand The gaming category continues to speak primarily to Consumer Identity Target the hardcore gamer. • Meanwhile, mainstream gamers now represent the fastest -growing and most culturally engaged segment of the global market. Fandom driving • Gaming is now
Slide 12: Compelling Gaming Fan Reach Through Powerful Partnerships
COMPELLING GAMING FAN REACH THROUGH POWERFUL PARTNERSHIPS Building on our current roster with a new strategy UCSD Esports NIU Esports Collegiate Collegiate Ali -A Blackpanthaa Coconut Brah AirforceProud95 Partnership Partnership Fortnite/Call of Duty Race Rainbow 6 Siege Flight Sim 48M Reach 2M Reac
Slide 13: Financials & Investor Highlights
FINANCIALS & INVESTOR HIGHLIGHTS 13
Slide 14: Q4'25 Financial Review
Q4'25 FINANCIAL REVIEW $ Millions Q4 25 Q4 24 Commentary (except per -share data) YOY decline driven by softness in gaming accessories market and a Revenue $118.8 $146.1 weaker than anticipated holiday season Gross Margin 40.1% 37.0% + 310 basis point expansion YOY Operating Expenses $26.7 $30.6 Rep
Slide 15: Full Year 2025 Financial Review
FULL YEAR 2025 FINANCIAL REVIEW $ Millions 2025 2024 Commentary (except per -share data) YOY decline driven by softness in gaming accessories markets, including Revenue $319.9 $372.8 US gaming headsets market down 13.5% (1) in 2025 Gross Margin 37.3% 34.6% + 270 basis point expansion YOY, the highes
Slide 16: Balanced Use of Capital
BALANCED USE OF CAPITAL IN EXECUTION OF BUSINESS STRATEGY As the business continues generating meaningful cash flow, Turtle Beach has employed a disciplined and balanced capital allocation strategy that focuses on driving growth. STRATEGIC SHARE M&A INVESTMENTS REPURCHASES Share M&A Repurchases Comm
Slide 17: Strong Balance Sheet to Support Execution
STRONG BALANCE SHEET TO SUPPORT EXECUTION Summary Cap Table $ Millions As of December 31, 2025 Revolver $29 Term Loan $56 Total Debt $85 (Less Cash) ($17) Net Debt $68 17
Slide 18: Executing a Balanced Financial Strategy
EXECUTING A BALANCED FINANCIAL STRATEGY Driving Revenue & Profitability Debt Refinancing • Continue investing in new product development and • Refinanced debt facilities in August 2025 with a $90 innovation aimed at driving sales in growing markets million revolving line of credit and a $60 million
Slide 19: Long-Term Growth Remains the Guiding Principle
LONG -TERM GROWTH REMAINS THE GUIDING PRINCIPLE 2026 GUIDANCE LONG -TERM FINANCIAL TARGETS Metric Target Net Revenue Adj. EBITDA Revenue 10%+ CAGR $335M – $355M $44M – $48 M Gross Margins % Mid -to -High 30’s Adjusted EBITDA Mid -to -High Teens Margins Guidance considers a return to growth for gamin
Slide 20: Experienced Leadership Team
MEET TURTLE BEACH'S LEADERSHIP TEAM Joined in 2025 & drives Turtle Beach’s global KATE brand, marketing, communications, direct -to - CRIS Joined in 2013 & named CEO in 2024 following several years leading global sales ZIBELL consumer, & go -to -market strategy CMO, KEIRN • Nearly 30 years in gaming
Slide 21: Appendix
APPENDIX 21
Slide 22: Gaming Accessories Markets & Products
GAMING ACCESSORIES MARKETS & PRODUCTS 22
Slide 23: Turtle Beach Gaming Headsets
TURTLE BEACH GAMING HEADSETS Turtle Beach is the leading maker of multiplatform gaming headsets. $2.9B Gaming Headsets Market The total addressable market for gaming headsets for consoles and PC is roughly $2.9B (1). Award - Winning Multiplatform Headsets Turtle Beach's multiplatform gaming headsets
Slide 24: A Complete Portfolio of Gaming Headsets
A COMPLETE PORTFOLIO OF GAMING HEADSETS ENABLES CONSUMER UPGRADES OVER TIME, FROM ENTRY -LEVEL TO ULTRA -P REMIUM 40 mm Wired Memory Wireless+ A.I. Based Mic Hi -Fidelity 24 -Bit 60mm Eclipse Active Noise Speakers Multiplatform Foam Bluetooth® Noise Reduction Audiophile Sound Dual Drivers Cancellati
Slide 25: Growing Turtle Beach Leadership in Controllers
GROWING TURTLE BEACH LEADERSHIP IN CONTROLLERS TURTLE BEACH CONTINUES EXPANDING IN THE GLOBAL $4.4B CONTROLLERS & SIM MARKET (1) Turtle Beach is a leading brand in controllers with a broad Catalog of products and licensed partnerships across all gaming Platforms Premium Wireless & Gaming Simulation
Slide 26: Gaming Simulation Accessories
GAMING SIMULATION ACCESSORIES $1.4B Simulation Accessories Markets The market for PC/console flight sim hardware adds about $400M (1) in global market opportunity and is ripe for new products and innovation. Racing sim adds about $I.0B (1). Flight Sim Evolution MSFT Flight Sim 2020 launched on PC Au
Slide 27: Gaming Simulation Accessories
GAMING SIMULATION ACCESSORIES In 2025, Turtle Beach expanded its line of Turtle Beach -branded PC gaming peripherals. $3.9B PC Gaming Accessories Market The total addressable market for PC gaming peripherals, including keyboards, mice, and microphones is roughly $3.9B (1). Award - Winning Product Li
Slide 28: GAAP Net Income to Adjusted EBITDA Reconciliation
GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION FOURTH QUARTER AND FULL YEAR 2025 COMPARED TO 2024 Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 (in thousands) (in thousands) (in thousands) (in thousands) Net income (loss) $17,609 $2
Slide 29: Contacts
CONTACTS Investor Relations: Turtle Beach: ICR Kim DeNapoli TBCH@icrinc.com SVP, Head of Brand Turtle Beach Corporation kim.denapoli@turtlebeach.com
Slide 30: Thank You
Ss oS THANK YOU