What changed in this filing

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Item 1. Business

2025-05-23 compared with 2024-05-16 · 100 added, 104 removed, 232 unchanged (47% of the section changed)

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Logitech’s website address is www.logitech.com.

Logitech designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, gaming and streaming.

As a point of connection between people and the digital world, our mission is to extend human potential in work and play, in a way that is good for people and the planet.

We sell these products through a number of brands, including Logitech, Logitech G and others.

Our diverse portfolio includes:

Logitech designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating and gaming.

As the point of connection between people and the digital world, our mission is to extend human potential in work and play, in a way that is good for people and the planet.

We sell the vast majority of our products under the Logitech and Logitech G brand names.

Our diverse, innovative portfolio includes:

Gaming, Keyboards & Combos, Pointing Devices, Video Collaboration, Webcams, Tablet Accessories, and Headsets.

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Peripherals (see Note 15 to our consolidated financial statements).

They also are compatible with many cloud or cloud-based services:

They are compatible with many cloud or cloud-based services:

video conferencing platforms (e.g.

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Google Workplace, Adobe Creative Cloud).

We sell our products to a broad network of international customers, in the Americas, Europe, the Middle East, and Africa ("EMEA") and Asia Pacific.

This includes direct sales to retailers, e-tailers, and end consumers through our e-commerce platform, and indirect sales to end customers through distributors.

Our products are also enhanced through software, including machine learning and artificial intelligence (AI).

We sell our products to a broad range of international customers, in the Americas, Europe, the Middle East, and Africa ("EMEA") and Asia Pacific.

This includes direct sales to retailers, e-tailers, businesses large and small and end consumers through our e-commerce platform, and indirect sales to end customers through distributors.

From time to time, we may seek to partner with or acquire, when appropriate, companies that have products, personnel, and technologies that complement our strategic direction.

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• Work and Play:

We plan to expand innovation and growth within Work and Play by selling our current product categories into broader sectors of Work including Retail, Education, and Health Care, and expand into other areas of Play beyond Gaming;

We plan to continue to innovate and grow in the core markets in which we compete today while also expanding into other macro spaces of Work and Play.

We have an opportunity to sell our current product categories into broader sectors of Work including Education, Healthcare, and the Public Sector, while also exploring opportunities to expand into other areas of Play beyond Gaming;

• Design-led, software-enabled hardware:

We plan to focus on design-led hardware, combined with software and services, that incorporates sustainability;

We focus on design-led, software-enabled hardware, and the services that come with it;

• Business-to-Consumer ("B2C") and Business-to-Business ("B2B"):

We plan to maintain focus on performance of our B2C business while accelerating our investment in B2B capabilities, including across product design, services, marketing and sales;

We plan to continue to invest in growth of our B2C business while increasing our focus on our B2B business, including sales coverage, product design, and services;

• Geographic opportunities:

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Environmental Sustainability

Logitech considers the environmental and social impacts of our products, operations, and value chain from the sourcing of raw materials through to the end-of-life of our products.

Logitech considers the environmental impacts of our products, operations, and value chain from the sourcing of raw materials through to the end-of-life of our products.

We design for sustainability by striving to use innovative materials, technologies and processes that reduce carbon emissions and elevate circular solutions.

We have started to transition our manufacturing and supply chain to renewable energy and we aim to eliminate waste and extend the life of products.

We continue to transition our manufacturing and supply chain to renewable energy and we aim to eliminate waste and extend the life of products.

Logitech also actively supports the use of recycled materials and component recovery for reuse, as well as product repair and recycling, in order to address the need for conservation of natural resources.

Logitech designs, manufactures and sells products that help businesses thrive and bring people together when working, creating, gaming and streaming, for use by consumers and enterprise customers.

Logitech International S.A.

| Fiscal 2025 Form 10-K | 4

Logitech G provides products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones and streaming services.

Logitech designs, manufactures and sells products that help businesses thrive and bring people together when working, creating, and gaming.

Logitech G provides products for gamers and streamers, including gaming mice, steering wheels, headsets and keyboards, as well as microphones and streaming services.

Incorporating innovative design and advanced technologies, some of the key products and solutions in this category include:

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• The Logitech Pro Racing Wheel that features our exclusive TRUEFORCE feedback system that connects directly to in-game physics, and our new Direct Drive motor.

• The Logitech Pro X 2 Lightspeed Wireless Headset that features pro-grade sound, LIGHTSPEED wireless, and an emphasis on comfort.

• The recently launched ASTRO 50X Wireless Headset, which is compatible with PC, Xbox Series X|S, PlayStation5, Nintendo Switch, and mobile, and portable gaming devices and features our unique PLAYSYNC technology that enables gamers to seamlessly switch between multiple consoles.

• The Logitech Pro X 2 Lightspeed Wireless Headset that features pro-grade sound, LIGHTSPEED TM wireless, and an emphasis on comfort.

• The ASTRO 50X Wireless Headset which is compatible with PC, Xbox Series X|S, PlayStation5, and Nintendo Switch, as well as mobile and portable gaming devices, and features our unique PLAYSYNC technology that enables gamers to seamlessly switch between multiple consoles.

• Streamlabs services which provide streaming and monetization tools for content creators to manage their audience and broadcast.

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Some of our key products in this category include:

• The Logitech MX Keys Wireless keyboard, a premium backlit keyboard with customizable keys to directly access menus and shortcuts within leading creativity and productivity apps.

We also have the MX Keys mini wireless keyboard which is ideal for smaller spaces and for creators and the Logitech MX mechanical wireless keyboard.

• The Logitech Wireless Combo MK270, a reliable entry level full-size keyboard and mouse combination with a tiny plug and play USB receiver.

The Logitech Wireless Combo MK295 Silent is an upgraded version with silent typing and clicking due to our SilentTouch technology.

• The Logitech MX Keys Wireless keyboard, a premium backlit keyboard with customizable keys to directly access menus and shortcuts within leading creativity and productivity apps.

We recently added the MX Keys mini wireless keyboard ideal for smaller spaces and creators and Logitech MX mechanical wireless keyboard.

• The recently launched Logitech Pebble Keys 2 wireless minimalist keyboard with Easy-Switch functionality that allows users to connect up to three devices (computers, tablets, or mobile phones), even with different operating systems, and switch between them.

• In fiscal year 2025, we launched a new product, MX Creative console, which is a versatile tool designed for creative professionals such as graphic designers, video editors, and photographers.

It features a customizable keypad with LCD keys and a tactile dialpad for precise control, allowing users to streamline their workflow by automating tasks and accessing essential tools quickly.

The console integrates seamlessly with popular Adobe applications such as Photoshop, Lightroom, Premiere Pro, and more.

With the Logi Options+ software, users can personalize controls and set up profiles for different applications, positioning it as an appealing tool for creatives seeking intuitive and fast-paced editing solutions.

Pointing Devices

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Some of our key products in this category include:

• The Logitech MX Master 3 and MX Anywhere 3 wireless mice, our flagship wireless mouse products.

Enabled with Logitech Flow cross-computer control software and Logi Bolt cross-operating system connectivity, these products represent the new paradigm for precise, fast, comfortable cross-computer digital navigation and digital creativity.

• The Logitech MX Master 3S and MX Anywhere 3S wireless mice, our flagship wireless mouse products, enabled with Logitech Flow cross-computer control software and Logi Bolt cross-operating system connectivity, these products represent the new paradigm for precise, fast, comfortable cross-computer digital navigation and digital creativity.

• The Logitech Signature M650 Wireless Mouse, which introduced Smartwheel for precise and fast scrolling, and clicks silently due to our SilentTouch technology, has an 18-month battery life, dual connectivity with Bluetooth and Logi Bolt, compatible with nearly all operating systems, side-buttons and comfortable design, and is available in Large, Medium and left-handed versions.

• The Logitech Wireless Mouse M185, a reliable wireless mouse with comfortable shape and compact design.

• The Logitech Wireless Mouse M220 Silent is an upgraded version of the M185 with silent clicking due to our SilentTouch technology.

• The Logitech Pebble Mouse, a slim and minimalist wireless mouse, comes with new and exciting colors, with Bluetooth connectivity compatible with Logi Bolt technology.

• The Logitech Lift, a vertical mouse with Logi Bolt wireless technology and the new smart wheel available in right and left-handed version.

• Pop Mouse, for younger generations that offers more style at the desk.

• The Logitech Wireless Mouse M185, a reliable wireless mouse with comfortable shape and compact design.

Logitech International S.A.

| Fiscal 2025 Form 10-K | 5

• The Logitech Wireless Mouse M220 Silent is an upgraded version of the M185 with silent clicking due to our SilentTouch technology.

Video Collaboration

The Video Collaboration category includes Logitech’s conference room cameras (“ConferenceCams”), which combine enterprise-quality audio and high definition ("HD") 4K video with affordability to bring video conferencing to a variety of room sizes.

The Video Collaboration category includes Logitech’s conference room cameras (“ConferenceCams”), which combine affordable enterprise-quality audio and high definition ("HD") 4K video to bring video conferencing to a variety of room sizes.

Our key products in this category include:

• Logitech Rally Bar, an all-in-one video bar purpose-built for midsize rooms, featuring brilliant video, room-filling audio, and the flexibility to deploy in PC or appliance mode.

• Logitech Rally, which offers best-in-class video conferencing with Ultra HD 4K video and professional audio that easily turns medium- to large-sized conference rooms into video-enabled collaboration rooms.

• Logitech MeetUp, which is Logitech’s premier ConferenceCam designed for huddle rooms, with a room-capturing 120° field of view ("FOV"), 4K optics and exceptional audio performance.

• Logitech Tap touch-screen controller, which connects to any computer through USB and serves as an ideal controller for video conferencing room solutions from Google®, Microsoft®, and Zoom.

• The recently launched Logitech Sight, a tabletop companion camera with intelligent multi-participant framing through front and center views.

Our Webcams category includes PC-based webcams that are targeted primarily at consumers, including streaming cameras, and VC webcams that turn any desktop into an instant collaboration space.

• The Logitech Rally Bar family of ConferenceCams, consisting of Rally Bar, Rally Bar Huddle, and Rally Bar Mini, which is our premier family of video bars with built-in computing capabilities for small, midsize and large rooms, providing brilliant video, room-filling audio, and the flexibility to deploy in PC or appliance mode.

• The Logitech Rally and Logitech MeetUp ConferenceCams that can plug and play with any computing device including PC, Mac and Chromebook.

Logitech Rally offers best-in-class video conferencing with Ultra HD 4K video and professional audio that easily turns medium- to large-sized conference rooms into video-enabled collaboration rooms.

Logitech MeetUp is designed for huddle rooms and features a room-capturing 120° field of view ("FOV"), 4K optics and exceptional audio performance.

• The Logitech Tap touch-screen controller, which connects to any computer through USB and serves as an ideal controller for video conferencing room solutions from Google®, Microsoft®, and Zoom.

• The Logitech Sight, a tabletop companion camera with intelligent multi-participant framing through front and center views.

• The recently launched Logitech Rally Board 65, an all-in-one video conferencing solution that combines crystal clear video, powerful audio, and AI-driven features, all integrated into a single 65-inch touchscreen.

• Along with these key products this category also includes a full portfolio of accessories such as microphones and cables to enable easy to deploy and customizable configurations.

Our Webcams category includes PC-based webcams including streaming cameras, and VC webcams that turn any desktop into an instant collaboration space.

Our webcams are targeted primarily at video conferencing users purchasing for individual use.

Key market drivers include upgrades of work-from-home video conferencing setups and purchase of webcams to create and share content via such platforms as YouTube, Twitch or TikTok.

The Logitech HD Pro Webcam C920, C922 and Brio 4K Pro Webcam are key products in this category and we have recently launched our new flagship MX Brio Ultra HD 4K Collaboration and Streaming Webcam.

The Brio 100, Logitech HD Pro Webcam C920, C922 and Brio 4K Pro Webcam and our flagship MX Brio Ultra HD 4K Webcam are the key products in this category that are designed to meet the various needs of our audiences.

Tablet Accessories

Our Tablet Accessories category primarily includes keyboards for tablets.

Our Tablet Accessories category primarily includes tablet keyboards.

These products are mostly for iPads but are also for select Samsung and other Android tablets.

Some of our key products in this category include :

• The Combo Touch line-up for various iPad models is our flagship design offering a backlit keyboard, any-angle kickstand for flexible viewing angles, and a trackpad for gestures, clicks, and navigation.

• The Combo Touch line-up for various iPad Pro models is our flagship design offering a backlit keyboard, any-angle kickstand for flexible viewing angles, and a trackpad for gestures, clicks, and navigation.

The Combo Touch line-up uses Smart Connector technology to connect to the iPad seamlessly, with no need for batteries or Bluetooth pairing.

• The Rugged line-up offers a more protective folio or combo for iPad 9th and 10th generations, with a securely sealed wipeable fabric keyboard powered by Smart Connector, a rugged and protective holder, and an any-angle kickstand to allow multiple viewing angles.

Made for Education version is available.

A version made for the Education sector is also available.

• The Logitech Slim Folio Keyboard for iPad 9th and 10th generations, offers a Bluetooth backlit keyboard with a folio design for optimal working and viewing angle, light front and back protection and a digital pen holder.

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Our Headsets category includes PC and VC headsets, in-ear headphones, and premium wireless earbuds.

Some of our key products in this category include the H390 USB Computer Headset, the Zone Wireless II, and the Zone Vibe Wireless.

Some of our key products in this category include the H390 USB Computer Headset, Zone 300, and the Zone Vibe Wireless.

Zone Vibe Wireless is fairly unique as a B2B Headset, providing a circumaural fit at a low price point.

Our Other category primarily consists of mobile speakers and PC speakers.

Our mobile speakers is a portfolio of portable wireless Bluetooth speakers for music on the go.

The top revenue-generating product in our mobile speakers during fiscal year 2024 was our ruggedized portable Bluetooth wireless speaker.

During fiscal year 2024, our collection of portable Bluetooth speakers included WONDERBOOM3, BOOM3, MEGABOOM3, HYPERBOOM, and our recently launched speaker, EPICBOOM.

Logitech International S.A.

| Fiscal 2025 Form 10-K | 6

Our Other category primarily consists of mobile speakers and PC speakers.

Our mobile speakers are a portfolio of portable wireless Bluetooth speakers for music on the go.

Our key products within the collection of portable Bluetooth speakers included WONDERBOOM4, BOOM4, and MEGABOOM4.

Sales and Distribution

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Logitech has an extensive global go-to-market network that is leveraged to optimize the value of our existing products and product categories as well as to introduce new products and enter new product categories.

We sell our products primarily to a network of distributors, retailers and e-tailers.

We sell our products primarily to a variety of distributors, retailers and e-tailers.

We support these channels with our direct sales force and third-party distribution centers located in all three geographic regions.

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As we have increased our investments in the B2B channel in recent years, we have expanded our enterprise sales coverage through our sales force as well as various channel partners.

Expansions into new channels enables more cross-selling opportunities across our broad product portfolio.

Expansion into new channels enables more cross-selling opportunities across our broad product portfolio.

Logitech's products can be purchased in a number of major retail chains, where we typically have access to significant shelf space.

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No other customer individually accounted for more than 10% of our gross sales in fiscal years 2025, 2024 or 2023.

Our product sales are typically seasonal.

Sales are generally highest during our third fiscal quarter (October to December) primarily due to the increased consumer demand for our products during the year-end holiday buying season and year-end spending by enterprises.

Cash flow is correspondingly lower in the first half of our fiscal year as we typically build inventories in advance for the third quarter and we pay an annual dividend following our Annual General Meeting, which is typically in September.

Due to the timing of our new product introductions, which could occur at any point during the fiscal year, we believe that year-over-year comparisons are more indicative of variability in our results of operations than the current quarter to prior quarter comparisons.

We experience seasonal trends related to our product sales.

Sales are generally highest during our third fiscal quarter (October to December) primarily due to increased consumer demand during the holiday season and increased spending by enterprises in the months nearing the calendar year-end.

Cash flow is correspondingly lower in the first half of our fiscal year as we typically build inventories in advance of our third fiscal quarter and we also pay an annual dividend following our Annual General Meeting typically held in September.

We purchase certain products and key components used in our products from a limited number of sources.

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Shortages or interruptions in the supply of components or subcontracted products, or our inability to procure these components or products from alternate sources at acceptable prices in a timely manner, could delay shipment of our products or increase our production costs.

Logitech’s operations capability consists of a hybrid model of in-house manufacturing (including a wholly-owned facility in Suzhou, China) and third-party contract manufacturers and original design manufacturers (principally in Asia), which allows us to effectively respond to rapidly changing demand and leverage economies of scale.

Our Suzhou operation, which currently handles approximately 40% of our total production of products, provides for increased production capacity, manufacturing know-how, intellectual property protection and greater flexibility in responding to product demand.

We focus on ensuring the efficiency of the Suzhou facilities through the implementation of quality management, automation, process improvements, and employee involvement programs.

Further, by outsourcing the manufacturing of certain products, we seek to reduce volatility in production volumes as well as improve time to market.

Logitech’s operations capability consists of a diversified manufacturing footprint across six countries that includes an in-house manufacturing facility in Suzhou, China and third-party contract manufacturers and original design manufacturers (principally in Asia), which allows us to effectively respond to rapidly changing demand and leverage economies of scale.

Logitech International S.A.

| Fiscal 2025 Form 10-K | 7

Our Suzhou operation, which currently handles approximately 35% of our total production of products, provides manufacturing know-how, intellectual property protection and variable production capacity which gives us flexibility to quickly adjust production levels to align with shifts in demand.

In addition, by combining in-house and outsourced manufacturing capabilities, we can reduce volatility in production volumes as well as improve time to market.

Both our in-house and outsourced manufacturing operations are managed by our worldwide operations group.

The worldwide operations group also supports the business units and marketing and sales organizations through the management of distribution centers and the supply chain and logistics networks.

We believe our supply chain’s extensive global reach, key distribution channels, adoption of factory automation and strategic business relationships combined with extensive analytic modeling expertise, optimization tools and global processes are key competitive advantages.

The worldwide operations group provides support throughout the product lifecycle from product development and sales and marketing to the management of distribution centers and the supply chain and logistics networks.

We believe our diversified manufacturing footprint across six countries, our supply chain’s extensive global reach, our key distribution channels and strategic business relationships combined with our factory automation, extensive analytic modeling expertise, optimization tools and global processes are key competitive advantages.

Across Logitech’s multiple product categories, we focus on enhancing our marketing capabilities around brand strategy and execution, digital marketing, and marketing technology.

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We recognize that continued investment in product research and development is critical to facilitate innovation of new and improved products, technologies and experiences.

Our research and development expenses for fiscal years 2024, 2023 and 2022 were $287.2 million, $280.8 million and $291.8 million, respectively.

Our research and development expenses for fiscal years 2025, 2024 and 2023 were $309.0 million, $287.2 million and $280.8 million, respectively, which represents 6.8%, 6.7% and 6.2% of net sales, respectively.

We expect to continue to devote significant resources to research and development, including devices for digital platforms, video communications, wireless technologies, power management, and user interfaces to sustain our competitive position.

Logitech uses design-led engineering as a strategic differentiator.

Our key design centers are in Switzerland, Ireland, the United States, and Taiwan, where we have an internal team of designers who work in close collaboration with our engineering and manufacturing teams at the beginning of our innovation process.

Our key design centers are in Switzerland, Ireland, the United States, and Taiwan, where we have internal teams of designers who work in close collaboration with our engineering, product and manufacturing teams throughout our innovation process.

This capability has driven the transformation of our portfolio over the years.

We focus on designing products that bring delight to our users because they are innovative, intuitive, easy-to-use and deliver value.

In addition, we design for sustainability to reduce the environmental impact of our products, operations, and value chain.

Our design capabilities have been recognized through various awards in fiscal year 2024 including the prestigious Red Dot Design Team of the Year award.

Our design capabilities have consistently been recognized by iF, Red Dot and Good Design with broad based award wins across work, play and education products.

Our decades-long expertise in key engineering disciplines such as sensors, acoustics, optics, wireless, and power management is a core competitive advantage of Logitech.

Furthermore, we continue to extend our engineering capabilities into more advanced technologies such as software, generative AI, cloud services, data analytics, machine learning, and some core building blocks of navigation and tracking for spatial computing and augmented/virtual reality environments.

Furthermore, we continue to extend our engineering capabilities into advanced technologies in software including AI, machine learning, cloud services, and mobile apps.

Our engineering team has expertise in bringing together these many technologies, across hardware and software to develop an innovative portfolio.

These engineering capabilities combined with our award-winning design team form the basis of Logitech's key innovation engine.

These engineering capabilities combined with our award-winning design team form the basis of Logitech's renowned innovation engine.

Customer Service and Technical Support

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To improve our customers' experience and operate efficiently, we use technology to facilitate chatbot interactions, enable self-help and apply AI to optimize support searches.

Logitech provides warranties on our branded products that range from one to three years.

For our Video Collaboration category, we also work with channel partners to offer bundled support services with Logitech Video Collaboration solutions.

Logitech International S.A.

| Fiscal 2025 Form 10-K | 8

Logitech provides warranties on our branded products that range from one to three years.

For our Video Collaboration category, we also offer bundled support services with Logitech Video Collaboration solutions that are sold through channel partners.

Our product categories are characterized by large, well-financed competitors, short product life cycles, continual performance enhancements, and rapid adoption of technological and product advancements by competitors in our retail markets.

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As we target opportunities in new categories and markets and as some of our product categories demonstrate growth, we are confronting new competitors, many of which may have more experience in the categories or markets and have greater marketing resources and brand name recognition than we have.

In addition, because of the continuing convergence of the markets for computing devices and consumer electronics, we expect greater competition in the future from well-established consumer electronics companies in our developing categories, as well as future categories we might enter.

Many of these companies have greater financial, technical, sales, marketing, and other resources than we have.

In addition, because of the continuing convergence of the markets for computing devices and consumer electronics, there may be greater competition in the future from well-established consumer electronics companies in our developing categories, as well as future categories we might enter.

Many of these companies may have greater financial, technical, sales, marketing, and other resources than we have.

We expect continued competitive pressure in our business, including in the terms and conditions that our competitors offer customers, which may be more favorable than our terms and conditions and may require us to take actions to increase our customer incentive programs, which could impact our sales and operating margins.

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Keyboards & Combos

("Apple"), Microsoft Corporation ("Microsoft"), Dell Technologies ("Dell"), HP, Lenovo Group Ltd.

("Lenovo") and regional computer peripheral computer brands are the main competitors in our keyboard and combo product lines.

("Apple"), Dell Technologies ("Dell"), HP, Lenovo Group Ltd.

("Lenovo"), Elgato, Eweadn, Mchose, Keychron, Cherry and regional computer peripheral computer brands are the main competitors in our keyboard and combo product lines.

We also experience competition and pricing pressure for corded and cordless keyboards and combos from less-established brands, including house brands and local competitors in Asian markets, such as Shenzhen Rapoo Technology Co., Ltd.

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Pointing Devices

Apple, Microsoft, Lenovo, Dell, and HP are our main competitors worldwide for pointing devices.

Apple, Microsoft, Lenovo, Dell, HP, and Cherry are our main competitors worldwide for pointing devices.

We also experience competition and pricing pressure from less-established brands, including house brands and local competitors in Asian markets, such as Elecom Co., Ltd., Buffalo Inc., Shenzhen Rapoo, and Xiaomi.

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Our competitors for video collaboration products include Cisco Systems, Inc.

("Cisco"), Poly (owned by HP), Jabra (owned by GN), AVer Information Inc., Neat, and Yealink (Xiamen) Network Technology Co.Ltd, among others.

Our primary competitors for webcams are Microsoft, HP, Dell, Lenovo and Cisco and other manufacturers taking smaller market share such as Razer and HIKVision.

("Cisco"), Poly (owned by HP), Jabra (owned by GN), AVer Information Inc., Neat, Yealink (Xiamen) Network Technology Co.Ltd, and Owl Labs, among others.

Our primary competitors for webcams are HP, Dell, Lenovo and other manufacturers taking smaller market share such as Razer, HIKVision and Insta360.

Tablet Accessories

Competitors in the tablet accessories market are Apple, Zagg Inc., Kensington Computer Products Group, Belkin International, Inc., Targus Corporation and other less-established brands.

Competitors in the tablet accessories market are Apple, Zagg Inc.

and other less-established brands.

Although we are one of the leaders in the tablet keyboard market and continue to bring innovative offerings to the market, we expect the competition may increase.

For headsets, our main competitors include Poly and Jabra, among others.

In-ear headphones competitors include Beats, Bose, Apple, Sony Corporation, JBL and Sennheiser, among others.

Logitech International S.A.

| Fiscal 2025 Form 10-K | 9

For headsets, our main competitors include Poly, Jabra, and EPOS, among others.

In-ear headphones competitors include Beats, Bose, Apple, Sony Corporation, JBL and Sennheiser, among others.

Our competitors for Bluetooth wireless speakers include Bose Corporation ("Bose") and Harman International Industries, Inc ("Harman"), among others.

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Dodd-Frank Wall Street Reform and Consumer Protection Act.

While we incur increasing costs to comply with such other government regulations, we do not believe that our compliance with such requirements will have a material effect on our capital expenditures, competitive position, consolidated results of operations, earnings, or cash flows.

While we incur increasing costs to comply with such government regulations, we do not believe that our compliance with such requirements will have a material effect on our capital expenditures, competitive position, consolidated results of operations, earnings, or cash flows.

Nonetheless, the regulatory framework applicable to us becomes increasingly complex as new regulations, including environmental, become effective.

While we monitor such regulations, we are unable to fully determine their impact, that could be substantial.

For more information about such regulations and how they may impact us, see "Risks Related to Global Nature of our Operations and Regulatory Environment" in Item 1A "Risk Factors" and Note 7 Income Taxes in our Notes to consolidated financial statements below.

Logitech International S.A.

| Fiscal 2025 Form 10-K | 10

Human Capital Resources

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Diversity and Inclusion

We believe that reflecting the diverse world in which we live - through our people and by fostering an inclusive culture - provides us with the foundation needed to create experiences that enable all people to pursue their passions, which is our corporate purpose.

We believe that reflecting the diverse world in which we live, through our people and by fostering an inclusive culture, fuels innovation.

Our direct employees are located across Americas, EMEA and Asia-Pacific and bring a range of perspectives and skills to Logitech.

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In the U.S., underrepresented minorities (defined as Black or African American, Asian, Hispanic or Latino, American Indian or Alaska Native, and Native Hawaiian or Other Pacific Islander) represented 47% of our employees.

To foster a more inclusive environment, we offer training sessions to emphasize awareness of self, bias and privilege, and inclusion.

In addition, to measure our employees’ satisfaction at Logitech, we distribute a bi-annual employee engagement survey.

Most recently, we conducted a survey in December 2023, in which 86% of our global office employees participated.

To measure our employees’ satisfaction at Logitech, we distribute a bi-annual employee engagement survey.

Most recently, we conducted a survey in October 2024, in which 82% of our global office employees participated.

As part of the survey, employees provided weighted feedback on their experience at Logitech, on measures such as happiness, retention and their perspective on our current state of workplace inclusivity at Logitech.

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Further, we operate an audit and verification program to verify compliance with the RBA code.

We believe health and well-being are critical to our employee’s personal and professional success and provide, in addition to healthcare benefits, wellness tools, resources and programs designed to help employees achieve good physical, financial, emotional, intellectual and social well-being.

We believe health and well-being are critical to our employees' personal and professional success and provide, in addition to healthcare benefits, wellness tools, resources and programs designed to help employees achieve good physical, financial, emotional, intellectual and social well-being.

Talent Acquisition and Development

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Chief Executive Officer

Charles Boynton 56

Matteo Anversa

Chief Financial Officer

Prakash Arunkundrum 50

Chief Operating Officer

President of Logitech for Business

Samantha Harnett 49

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Prior to Unilever, Ms.

Faber was a member of the Executive Committee from 2013 to 2017, serving first as Chief Commercial Officer and then as Chief E-Commerce and Innovation Officer of Ahold Delhaize N.V., a global food retailer.

Faber was a member of the Executive Committee of Ahold Delhaize N.V., a global food retailer, from 2013 to 2017, serving first as Chief Commercial Officer and then as Chief E-Commerce and Innovation Officer.

Faber has been a member of the board of directors and audit committee of Tapestry Inc., a luxury fashion and lifestyle brands holding company since 2021.

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Faber holds a Bachelor of Arts in Journalism and a Master of Business Administration from the University of Houston (Texas, USA).

Charles Boynton joined Logitech as Chief Financial Officer in February 2023.

Prior to joining Logitech, Mr.

Boynton served as the Executive Vice President, Chief Financial Officer of Plantronics, Inc.

(dba Poly), a technology company specializing in video and video solutions as well as team collaboration, from March 2019 to October 2022.

Prior to joining Poly, Mr.

Boynton served as Executive Vice President and Chief Financial Officer of SunPower Corporation, a global energy company and provider of solar power solutions, from March 2012 to May 2018, and continued as an Executive Vice President until July 2018.

Boynton also served as the Chairman and Chief Executive Officer of 8point3 General Partner LLC, the general partner of 8point3 Energy Partners LP, an affiliate of SunPower, from March 2015 to June 2018.

From 2010 to 2018, Mr.

Boynton held various leadership positions at SunPower, including Principal Accounting Officer, Acting Chief Financial Officer and Vice President, Finance and Corporate Development.

Earlier in his career, Mr.

Boynton held key financial positions at Intelliden, Commerce One, Inc., Kraft Foods, Inc., and Grant Thornton, LLP.

Boynton served as a non-executive director of Nextracker Inc., a provider of intelligent, integrated solar tracker and software solutions, from February 2023 to March 2024.

Boynton earned his master’s degree in business administration at the Kellogg School of Management at Northwestern University and holds a Bachelor of Science degree in Accounting from the Kelley School of Business at Indiana University Bloomington.

As disclosed in our Current Report on Form 8-K dated March 17, 2024, Mr.

Boynton resigned from his position as Chief Financial Officer of the Company effective May 17, 2024, to pursue another opportunity.

Prakash Arunkundrum is Logitech’s Chief Operating Officer, a position he has held since February 2023.

He was also appointed B2B General Manager in June 2023.

He was previously Logitech's Head of Global Operations & Sustainability, a role he held from May 2018.

Matteo Anversa joined Logitech as Chief Financial Officer in September 2024.

Anversa served as Executive Vice President of Finance, Chief Financial Officer and Treasurer of Gentherm Incorporated, a thermal management technology company, from January 2019 to August 2024.

Prior to joining Gentherm, Mr.

Anversa served as Executive Vice President and Chief Financial Officer of Myers Industries, Inc., an international manufacturer of polymer-based material handling products and a distributor of tire repair and retread products, from December 2016 to December 2018.

Prior to Myers Industries, Mr.

Anversa worked since 2013 at Fiat Chrysler Automobiles N.V., a global automobile manufacturer, where he held executive management positions, including Vice President, Group FP&A Fiat Chrysler and Chief Financial Officer for Ferrari SpA where he helped prepare Ferrari for its initial public offering.

Anversa began his career with General Electric Company, a multinational conglomerate, where he held various leadership roles during his 16-year tenure.

Anversa has served as a director of Gabelli Value for Italy, an Italian company listed on AIM Italia, from April 2018 through May 2020 and has been serving as a director of Strattec Security Corporation since October 2024.

Anversa holds a degree in Mechanical Engineering from the University of Parma, Italy.

Prakash Arunkundrum is the President of Logitech for Business, a position he has held since March 2025.

Arunkundrum most recently served as Logitech's Chief Operating Officer from 2023 to 2025 and as Head of Global Operations & Sustainability from May 2018 to January 2023.

He joined Logitech in 2015 and held operations positions as Vice President New Product Introductions & Strategic Initiatives from August 2015 to July 2016 and Vice President Global Sourcing and New Product Introductions from July 2016 to May 2018.

9 unchanged sentences

Prior to joining Logitech, Ms.

Harnett served in various legal and management roles at Eventbrite, Inc., a global

Logitech International S.A.

| Fiscal 2024 Form 10-K | 12

self-service ticketing and experience technology platform, most recently as Chief Legal and Operations Officer from October 2019 to June 2020.

Harnett served in various legal and management roles at Eventbrite, Inc., a global self-service ticketing and experience technology platform, including as Chief Legal and Operations Officer from October 2019 to June 2020.

While at Eventbrite, she also served as Senior Vice President, General Counsel from May 2018 to October 2019 and Vice President, General Counsel from November 2015 to May 2018.

From March 2005 to November 2015, Ms.

Harnett served in various positions at ZipRealty, Inc., a real estate technology and online brokerage company, including most recently as General Counsel and Senior Vice President of Business Development from October 2009 to November 2015.

Harnett served in various positions at ZipRealty, Inc., a real estate technology and

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| Fiscal 2025 Form 10-K | 12

online brokerage company, including as General Counsel and Senior Vice President of Business Development from October 2009 to November 2015.

She also served as an associate at Wilson Sonsini Goodrich and Rosati, P.C.

10 unchanged sentences

As a Swiss company traded on the SIX Swiss Exchange, and as a company subject to the provisions of Section 16 of the Securities Exchange Act of 1934, as amended, we file reports on transactions in Logitech securities by members of Logitech's Board of Directors and executive officers.

The reports that we file with the Securities and Exchange Commission on Forms 3, 4 and 5, along with our other SEC filings, may be accessed on our website or on the Securities and Exchange Commission's website at http://www.sec.gov, and the reports we file that are published by the SIX Swiss Exchange may be accessed at http://www.six-exchange-regulation.com/obligations/management_transactions_en.html.

The reports that we file with the Securities and Exchange Commission on Forms 3, 4 and 5, along with our other SEC filings, may be accessed on our website or on the Securities and Exchange Commission's website at http://www.sec.gov, and the reports we file that are published by the SIX Swiss Exchange may be accessed at https://www.ser-ag.com/en/resources/notifications-market-participants/management-transactions.html.

Logitech International S.A.

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business