Logitech International S A : 2022 Annual General Meeting Invitation, Proxy Statement and Annual Report

2022 Annual General Meeting

Invitation, Proxy Statement and Annual Report

TO OUR SHAREHOLDERS, PARTNERS,

CUSTOMERS AND EMPLOYEES

Fiscal Year 2022 was a year of milestones here at Logitech.

We turned forty years old. And Bracken finished

his tenth year at the company. More important than either of those, Logitech grew for its ninth consecutive year. That may not seem special at first, however, this year's results were on top of the prior year's remarkable 74% record growth. That means that

FY 2022 further established a new scale for Logitech and our long-term growth strategy.

REACHING NEW HEIGHTS

This past decade, we have transformed Logitech into a design company and built a diverse, innovative portfolio of products that tap into some of the most exciting long-term trends touching us all today.

The four trends that drive our business are undeniable: the explosion of hybrid work and learning, video communication's unstoppable path to replacing audio-only calls, the massive growth of esports for participants and spectators, and the emergence of millions of digital content creators.

These trends have grown our business for many years, accelerated dramatically during the pandemic and continued to grow our business to the new heights we saw in FY 2022.

Throughout the fiscal year we remained agile and prepared for change, but kept our eyes squarely

on the strong, long-term path we charted years ago. We remained committed to our proven strategy and capabilities, and continued to lead in our product categories while selectively adding new ones in other long-term growth areas. We continued to execute and continued to grow, on top of the exceptional previous year and in the face of industry-wide supply headwinds.

We saw the results. We gained market share across the portfolio and, together, our key categories - Pointing Devices, Keyboards & Combos, Gaming and Video Collaboration - grew 12% in constant currency in the year. In fact, by the close of Fiscal Year 2022, we had doubled our sales in four years, more than doubled our profits in two years and returned a record annual amount to shareholders via dividends and share repurchases - more than $0.5 billion.

CONSISTENT, PROVEN STRATEGY

Over the years, Logitech has faced challenges,

from currency fluctuation and China tariffs, to supply chain headwinds and sadly, today, war. These create uncertainty.

Experience tells us there will always be uncertainty. So Logitech focuses on the factors we can control: executing with discipline on our consistent, proven strategy, and using external challenges to help us build ever more resilience in our capabilities, including the strength and agility of our operations.

To the outside world, this is revealed through the product experiences we create, a diverse portfolio that taps into the long-term growth trends you are now familiar with:

1) Work or learn from anywhere (hybrid work):

The global lockdown, and now, the gradual return to hybrid forms of work, have demonstrated unequivocally that we can work or learn from anywhere. Individuals have an opportunity to shape where and when they work; and organizations have an opportunity to define what hybrid work means to them, to refit their meeting rooms, classrooms and IT equipment. For Logitech, the world's 1 billion knowledge workers are just the beginning of an opportunity, many with more than one workspace, each with individual needs to help them work productively, creatively and comfortably wherever they are.

2) Video everywhere:

We are all social beings. No matter where

we are, we want to connect - to collaborate and communicate with human intimacy on an equal and inclusive basis. The proliferation of workspaces, in offices, homes and on the go, coupled with approximately 90 million conference rooms that are not equipped with video equipment, are where that connection will take place. And it will be by video. Everywhere.

3) Rise of esports:

Competitive gaming, known as esports, is huge. There are 3.1 billion gamers around the world,

but gaming isn't limited to those who play. Like any mainstream sport, there is also a big audience

of engaged fans who connect and communicate around their passion. YouTube has nearly 0.5 million gaming channels run by gamers who stream their gameplay. In total, creators across all platforms livestreamed nearly 35 billion hours of content last year. And the most competitive play - esports - was viewed by 474 million people.

4) Democratization of content creation:

Content creation is more than gaming. In the past, we relied on a few hundred studios and media companies to produce content millions of us could consume; today millions of content creators broadcast their activities to an audience of billions around the world. Creation is a profession, making millionaire stars of the best in the field. And anyone can emulate them, because the tools they have to code, design, create art, make music, game and broadcast are the same democratized tools everyone has access to.

These trends are big. They are growing. They are here for the long term. And that's where our focus is, both for our consumer offering and for our enterprise business. Because for every individual who is seeking a Logitech solution for their personal needs, there is a school, hospital or business looking for reliable tools for their organization and those in their care - from video collaboration equipment to ergonomic mice and keyboards at personal workstations.

GROWING WITH PURPOSE

Another area of long-term focus for Logitech is sustainability - it's central to our company's purpose.

It has been clear for too long now that the earth is warming. Unless we act to address climate change, we will create untold damage to the planet and humanity itself. And, we also feel strongly that humanity must work to address the inequalities around the world. If we address this we can unlock so much potential.

On both issues - environment and equality - we must act. And that is what Logitech has been doing.

We placed both at the heart of our company purpose and values, and at the top of our design principles.

We made it part of our culture; we set targets to rapidly effect change; and we're reporting back transparently in our annual Sustainability Report.

In Fiscal Year 2022, we accelerated our climate strategy. Logitech became certified carbon neutral across all our products and operations, which set us on a path to be climate positive when, one day, we will capture more carbon than we create. We continued to roll

out carbon labeling of our products, having become the first consumer electronics company to commit to such transparency across all our products. We also made great progress in moving to the use of recycled plastics throughout our products. We had committed to eliminate around 11,000 tons of carbon per year in our mice and keyboard product lines…so we eliminated 19,000 tons.

People noticed. For the second year in a row, Logitech was credited as a sustainability leader within the Dow Jones Sustainability Europe Index. We also topped the Financial Times-Statista list of Europe's Climate Leaders. And Forbes recognized us as one of the world's top female-friendly companies - just one example of our ongoing commitment to ensuring equitable actions drive a more inclusive environment inside and outside of Logitech.

This recognition of our efforts illustrates the incredible dedication of our teams across the company. Yet, there is a lot more to do.

BIG AMBITIONS

In this letter, we have outlined many of the attributes that have contributed to Logitech's nine consecutive years of growth: our consistent strategy, the strength of our capabilities, our agile and resilient operations, the long-term trends that help us grow, and the ambitious scope of our purpose - to help all people pursue their passions and to do so in a way that is good for the planet.

We have yet to mention the Logitech community - you, our customers and consumers, our employees, partners and shareholders. In spite of our new-found scale, Logitech remains the small company that is familiar to so many. Many of you have come a long way with us on this journey, and we appreciate your loyalty and passion. We know we must earn that trust every year. We have a long way to go, and big ambitions. We're excited to be traveling with you.

Bracken P. Darrell

President and Chief Executive Officer

Wendy Becker

Chairperson of the Board

Compensation Report for Fiscal Year 2019

2022 Annual General Meeting

Invitation, Proxy Statement and Annual Report

Statement Proxy Invitation, Meeting General Annual 2019

FORWARD-LOOKING INFORMATION

This Invitation, Proxy Statement and Annual Report, including the letter to shareholders, contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on beliefs of our management as of the initial date of making such statements. These forward-looking statements include, among other things, statements related to:

• Our strategy for growth, future revenues, earnings, cash flow, uses of cash and other measures of financial performance, and market position;
• Our business strategy and investment priorities in relation to competitive offerings and evolving consumer demand trends affecting our products and markets, worldwide economic and capital market conditions, fluctuations in currency exchange rates, and current and future general regional economic conditions for fiscal year 2023 and beyond;
• Our climate, environment, sustainability and equality strategies and focus;
• The scope, nature or impact of acquisition, strategic alliance, and divestiture activities and restructuring of our organizational structure;
• Our expectations regarding the success of our strategic acquisitions, including integration of acquired operations, products, technology, internal controls, personnel and management teams;
• Our expectations regarding our effective tax rate, future tax benefits, tax settlements, the adequacy of our provisions for uncertain tax positions;
• Our expectations regarding our potential indemnification obligations, and the outcome of pending or future legal proceedings and tax audits;
• Our business and product plans and development and product innovation and their impact on future operating results and anticipated operating costs for fiscal year 2023 and beyond;
• Opportunities for growth and our ability to execute on and take advantage of them, market opportunities and marketing initiatives and strategy and our expectations regarding the success thereof;
• Potential tariffs, their effects and our ability to mitigate their effects;
• Capital investments and research and development;
• Our expectations regarding our share repurchase and dividend programs;
• The sufficiency of our cash and cash equivalents, cash generated from operations, and available borrowings under our bank lines of credit to fund capital expenditures and working capital needs;
• The effects of environmental and other laws and regulations in the United States and other countries in which we operate; and
• The impact of global events, such as the coronavirus ("COVID-19") pandemic and Russia's invasion of Ukraine, and any associated economic downturn and impacts to our business and future operating and financial performance.

Forward-looking statements also include, among others, those statements including the words "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should," "will" and similar language. These statements reflect our views and assumptions as of the initial date of making such statements. All forward-looking statements involve risks and uncertainties that could cause our actual performance to differ materially from those anticipated in the forward-looking statements depending on a variety of factors. Important information as to these factors can be found in our Annual Report on Form 10-K for the fiscal year ended March 31, 2022 under the headings of "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Overview," "Critical Accounting Estimates" and "Liquidity and Capital Resources," among others. Factors that might cause or contribute to such differences include, but are not limited to, those discussed under Item 1A "Risk Factors," as well as elsewhere in our Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and in our other filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the initial date of making such statements. We undertake no obligation to publicly release any revisions to the forward- looking statements or reflect events or circumstances after the initial date of making such statements.