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Irobot Analyst Day May 7, 2014 Forward Looking Statements

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Irobot Analyst Day May 7, 2014 Forward Looking Statements iRobot Analyst Day May 7, 2014 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. This presentation contains various non-GAAP financial measures as defined by SEC Regulation G, including Adjusted EBITDA, which we define as Earnings Before Interest, Taxes, Depreciation, Amortization, merger and acquisition expenses, restructuring expenses, net intellectual property litigation expenses and non-cash stock compensation expense. The most directly comparable GAAP financial measures and a reconciliation of the differences between the GAAP financial measures and the non-GAAP financial measures are posted on the investor relations page of our web site at www.irobot.com. 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. 5/7/2014 2 Agenda • 9:30 – 10:00 Continental Breakfast • 10:00 – 10:05 Welcome • 10:05 – 10:20 Colin Angle, Chairman & CEO – iRobot Strategic Initiatives/ Business Unit Reviews • 10:20 – 10:40 Paolo Pirjanian, PhD, Chief Technology Officer – Technology Strategy • 10:40 – 10:55 Glen Weinstein, Chief Legal Officer – Intellectual Property • 10:55 – 11:10 Q&A • 11:10 – 11:20 Break • 11:20 – 11:35 Christian Cerda, SVP & General Manager, Home Business Unit • 11:35 – 11:45 Alison Dean, EVP & Chief Financial Officer • 11:45 – 12:00 Q&A • 12:00 – 12:15 AVA 500 Demonstration – Youssef Saleh; Home Products – Matt Lloyd • 12:15 – 2:00 Lunch 5/7/2014 3 iRobot Strategic Initiatives Colin Angle Chairman & CEO The Robot Company 24 Years of Empowering People To Do More 5/7/2014 5 The Robot Company OUR MISSION: OUR VISION: 1. Provide meaningful solutions to important human needs. 2. Pioneer robotic technology delivering greater ease and efficiency. 3. Be seen as a positive force for change in the world. 5/7/2014 6 Global Growth Cumulative • $7 billion annual market opportunity for vacuum cleaners, globally •(2013: NPD, GfK, Euromonitor) • $14 billion annual market opportunity for global home maintenance •(2013: NPD, GfK, Euromonitor) • Top selling vacuum in Spain is a Roomba – above $200 •(2013: GfK and internal sales data) 5/7/2014 7 Scaling Robot Vacuuming 2014 Commoditization Stage Scale Explosion Stage Brand/Offer Product Differentiation Availability Creation Stage Mass Product Genesis Supply Roomba - beginning of the explosion stage 5/7/2014 8 Defense & Security • Expanding markets and opportunities in public safety and industry • International revenue more than doubled from 2012 to 2013 5/7/2014 9 Remote Presence Navigate & Interact In Complex Real World Environments Video Collaboration Telemedicine Ava 500 RP-VITA Investing in long-term growth 5/7/2014 10 Unlocking the Potential Higher value More autonomous More accessible Autonomous Patrol Continuous Home Maintenance Teleporting Remote Presence Value Floor Care TeleOp Presence Manufacturing + Stationary + Mobile + Navigating + Manipulating Cloud Productizing Robot Capabilities 5/7/2014 11 Technology Strategy Paolo Pirjanian, PhD EVP & Chief Technology Officer Technology Strategy Navigation – near term focus 5/7/2014 13 Simultaneous Localization & Mapping (SLAM) State of the art, high-end navigation today 5/7/2014 14 Visual SLAM (vSLAM) • Next Generation Navigation: Camera-based mapping yields both 3D key-points and environmental layout • Enables autonomous navigation: Uses efficient algorithms for path planning, self- docking, way-point navigation and efficient coverage algorithms • Consumer-grade pricing: World’s lowest cost implementation use QVGA cameras, running on an low-end video processor • Scalable solution: Can scale to 3D dense maps, large environments, outdoor areas and more 5/7/2014 15 Visual SLAM 5/7/2014 16 From 2D Maps… Connecting maps, users, and the Internet of Things 5/7/2014 17 Using Our Strengths in Navigation and Vision 5/7/2014 18 Combined with Low-cost Depth Sensors 5/7/2014 19 To Produce High Definition, 3D Maps 5/7/2014 20 IP Strategy and Patent Portfolio Glen Weinstein EVP & Chief Legal Officer IP Strategy Sword Shield Encourage or force competitors to Ensure freedom to operate design products that avoid iRobot’s technology and brand identity Openness Enforcement Embrace open source and Stress test patent assets while interoperability where pursuing business goals appropriate 5/7/2014 22 Patent Portfolio 600 525 558 500 400 308 344 293 300 213 180 200 116 232 250 100 164 97 0 2011 2012 2013 2014 YTD Issued Patents U.S. Int'l iRobot ranked 5th overall by the Patent Board™ for having one of the strongest patent portfolios in electronics and instruments industry 5/7/2014 23 Patent Portfolio — Roomba 98 U.S. Patents 188 International Patents Covering Roomba Technology Covering Roomba Technology Reliability & UX, 7 Tier 1 58 Platforms & Cleaning, 18 Tier 2 61 Navigation, Tier 3 29 68 Other, 5 Tier 4 28 5/7/2014 24 Patent Portfolio – SLAM Navigation iRobot’s portfolio includes the earliest filed patents on visual SLAM (“vSLAM”), especially single vSLAM camera SLAM. 15 Cases descended from these early matters are still being processed, and iRobot continues to observe the industry and tailor new “sword” Non-Contact Features & and “shield” patents based on the market. ODOA Landmarks Additional patents and patent applications 8 6 cover improvements and innovations through the intervening years to the present day. SIFT6 1 We are of course adding new patents and patent applications based on the state of the art as it is developed. 5/7/2014 25 Patent Enforcement Considerations • Median litigation costs for a moderate-sized U.S. patent infringement suit Cost is $2.5 million; median cost for a large suit is $5.0 million • Source: AIPLA Report of the Economic Survey 2011 • Depositions, document searches, etc. Distraction • Median time to trial was 2.5 years in 2012 • Source: PWC 2013 Patent Litigation Study • Overall success rates for practicing entities is 34% ; overall consumer Litigation Success Rate product success rate is 35% (Strength of Case) • Source: PWC 2013 Patent Litigation Study (data from 1995-2012) • Can defendant add a counterclaim for infringement of its own patent? Counterclaims • Might defendant be able to otherwise disrupt our business? Achievable Business • Injunction? Damages/Royalties? Halo effect of strengthened portfolio? Goals Initiation of business discussion? Force design change? 5/7/2014 26 Patent Enforcement: 2013 Speed Cost • Brought two patent enforcement actions in Germany in the second half of 2013. • Infringement of 5 patents against a reseller of Chinese goods. Availability of Expertise Injunctions • Infringement of 4 patents against manufacturer of imported robots. Injunctions & • Received a preliminary injunction against Damages Influence of Chinese manufacturer in August 2013 on Available in the Decisions all four patents from court in Dusseldorf, Same Court Germany. No Stay of Ruling Cost Recovery • Additional Customs enforcement in Pending Validity (Loser Pays) Germany, Netherlands & Spain. Determination Source: Managing Intellectual Property (Sept. 2010) 27 5/7/2014 Q&A Home Business Unit Christian Cerda SVP & GM Home Business Unit HBU Strategy Portfolio Expansion BrandBrand Strength Preference • THE Robot Company • Premium position • 360 to consumer RobotProduct Performance Leadership • Core performance • Automation of task • User experience & connectivity • Quality Supported by a winning team and effective go-to-market strategy 5/7/2014 30 Home Business Unit Growth & Profitability HBU Sales in millions, 22% CAGR Other Key Metrics $M 2010 2011 2012 2013 2014 Est* $600 19% GM% 40% 45% 49% 49% 49% 20% 507.5 $500 28% ASP 189 207 222 231 245 21% 427.9 $400 356.8 CAGR 326.9 278.5 Total 22% $300 273.7 229.3 Int'l 21% 239.2 $200 Domestic 23% 195.7 151.5 $100 154.1 180.6 117.6 77.9 82.8 $0 2010 2011 2012 2013 2014 Est* Domestic International * 2014 expectations provided February 5, 2014 Delivering continuous profitable growth 5/7/2014 31 HBU Product Introductions 2011 2012 2013 2014 Roomba 700 Series Roomba Roomba 600 Series 800 Series Mint 4200/5200 Scooba 450 Looj 330 Scooba 230 Braava 300 series Scooba 390 Mirra 530 5/7/2014 32 Roomba 800 Launch Success . Aeroforce extractors improve cleaning by up to 50% with virtually no maintenance needed . Exceeding expectations on those selected retail outlets where launched . R880 top selling SKU in its category on Amazon NA with~ 5 star rating . #1 SKU – iRobot eCommerce, since launch . Rolling out progressively at retail in NA, EMEA, Japan “The rubber rollers on the bottom have been the biggest difference. Our old vacuum had the bristled roller on the bottom and wouldn't even rotate it was so tangled in hair. Now, hair isn't a problem.” “I had a Roomba many years ago when
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