PLANTRONICS INC /CA/ - FORM 8-K - EX-99.2 - EXHIBIT 99.2

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EX-99.1 - EXHIBIT 99.1 - PLANTRONICS INC /CA/	q121ex991earningsrelea.htm
8-K - 8-K - PLANTRONICS INC /CA/	q121earningsrelease8-k.htm

FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to our intentions, beliefs, projections, outlook, analyses or current expectations that are subject to many risks and uncertainties. Such forward-looking statements and the associated risks and uncertainties include, but are not limited to: (i) our beliefs with respect to the length and severity of the COVID-19 (coronavirus) outbreak, and its impact across our businesses, our operations and global supply chain, including (a) our inability to source component parts from key suppliers in sufficient quantities necessary to meet the high demand for certain product lines, including our Enterprise Headsets, which negatively impacted our sales during the quarter; and continued uncertainty and potential impact on future quarters if these sourcing constraints continue and/or price volatility occurs, which could continue to negatively affect our profitability and/or market share, (b) our expectations that the virus has caused and will continue to cause, an increase in customer and partner demand, including increased demand in collaboration endpoints due to a global, work from home workforce, (c) expectations related to our voice product lines, as well as our services attachment rate for such products, which have been, and may continue to be, negatively impacted as companies have delayed returning their workforces to offices in many countries due to uncertainties related to the continued impact of COVID-19; (d) expectations related to our ability to fulfill the backlog generated by supply constraints during the quarter, to timely supply the number of products to fulfill current and future customer demand, including expectations that our manufacturing facility in Tijuana, Mexico will continue production at the capacity necessary to meet such demand, (e) the impact of the virus on our distribution partners, resellers, end-user customers and our production facilities, including our ability to obtain alternative sources of supply if our production facility or other suppliers are impacted by future shut downs, (f) the impact if global or regional economic conditions deteriorate further, on our customers and/or partners, including increased demand for pricing accommodations, delayed payments, delayed deployment plans, insolvency or other issues which may increase credit losses, and (g) risks related to restrictions or delays in global return to worksites as a result of COVID-19, which continues to impact our employees worldwide and our customers, which has negatively impacted our voice product lines for the quarter, and restricted customer engagement; and (h) the complexity of the forecast analysis and the design and operation of internal controls; and (ii) our belief that we can manufacture or supply products in a timely manner to satisfy perishable demand; (iii) expectations related to our customers’ purchasing decisions and our ability to match product production to demand, particularly given long lead times and the difficulty of forecasting unit volumes and acquiring the component parts and materials to meet demand without having excess inventory or incurring cancellation charges; (iv) risks associated with significant and abrupt changes in product demand which increases the complexity of management’s evaluation of potential excess or obsolete inventory; (v) risks associated with the bankruptcy or financial weakness of distributors or key customers, or the bankruptcy of or reduction in capacity of our key suppliers; (vi) risks associated with the potential interruption in the supply of sole-sourced critical components, our ability to move to a dual-source model, and the continuity of component supply at costs consistent with our plans, which has negatively impacted in the quarter and may continue to impact our ability to timely supply product to meet our customer demand; (vii) expectations related to our services segment revenues, particularly as we introduce new generation, less complex, product solutions, or as companies shift from on premises to work from home options for their workforce, which may result in decreased demand for our professional, installation and/or managed service offerings; (viii) expectations that our current cash on hand, additional cash generated from operations, together with sources of cash through our credit facility, either alone or in combination with our election to suspend our dividend payments, will meet our liquidity needs during and following the unknown duration and impact of the COVID-19 pandemic; (ix) expectations relating to our ability to generate sufficient cash flow from operations to meet our debt covenants and timely repay all principal and interest amounts drawn under our credit facility as they become due; (x) risks associated with our channel partners’ sales reporting, product inventories and product sell through since we sell a significant amount of products to channel partners who maintain their own inventory of our products; (xi) our efforts to execute to drive sales and sustainable profitable revenue growth; (xii) our expectations for new products launches, the timing of their releases and their expected impact on future growth and on our existing products; (xiii) our belief that our new Partner Program will drive growth and profitability for both us and our partners through the sale of our product, services and solutions; (xiv) risks associated with forecasting sales and procurement demands, which are inherently difficult, particularly with continuing uncertainty in regional and global economic conditions; (xv) uncertainties attributable to currency fluctuations, including fluctuations in foreign exchange rates and/or new or greater tariffs on our products; (xvi) our expectations regarding our ability to control costs, streamline operations and successfully implement our various cost-reduction activities and realize anticipated cost savings under such cost-reduction initiatives; (xvii) expectations relating to our quarterly and annual earnings guidance, particularly as economic uncertainty, including, without limitation, uncertainty related to the continued impact of COVID-19, the macro-economic and political climate and other external factors, puts further pressure on management judgments used to develop forward looking financial guidance and other prospective financial information; (xviii) expectations related to GAAP and non-GAAP financial results for the first quarter and full Fiscal Year 2021, including net revenues, adjusted EBITDA, tax rates, intangibles amortization, diluted weighted average shares outstanding and diluted EPS; (xix) our expectations of the impact of the acquisition of Polycom as it relates to our strategic vision and additional market and strategic partnership opportunities for our combined hardware, software and services offerings; (xx) our beliefs regarding the UC&C market, market dynamics and opportunities, and customer and partner behavior as well as our position in the market, including risks associated with the potential failure of our UC&C solutions to be adopted with the breadth and speed we anticipate; (xxi) our belief that the increased adoption of certain technologies and our open architecture approach has and will continue to increase demand for our solutions; (xxii) expectations related to the micro and macro-economic conditions in our domestic and international markets and their impact on our future business; (xxiii) our forecast and estimates with respect to tax matters, including expectations with respect to utilizing our deferred tax assets; (xxiv) our expectations related to building strategic alliances and key partnerships with providers of collaboration tools and platforms to drive revenue growth and market share; and (xxv) our expectations regarding pending and potential future litigation, in addition to other matters discussed in this press release that are not purely historical data. Such forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. We do not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. For more information concerning these and other possible risks, please refer to our Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 8, 2020 and other filings with the Securities and Exchange Commission, as well as recent press releases. © 2020 Plantronics Inc. All rights reserved. 2

USE OF NON-GAAP INFORMATION To supplement our condensed consolidated financial statements presented on a GAAP basis, we use non-GAAP measures of operating results, including non-GAAP net revenues, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, adjusted EBITDA, and non-GAAP diluted EPS. These non-GAAP measures are adjusted from the most directly comparable GAAP measures to exclude, or include where applicable, the effect of purchase accounting on deferred revenue, charges associated with the optimization of our Consumer product line, stock-based compensation, acquisition related expenses, purchase accounting amortization and adjustments, restructuring and other related charges and credits, impairment charges, rebranding costs, other unusual and/or non-cash charges and credits, and the impact of participating securities, all net of any associated tax impact. We also exclude tax benefits from the release of tax reserves, discrete tax adjustments including transfer pricing, tax deduction and tax credit adjustments, and the impact of tax law changes. We adjust these amounts from our non-GAAP and combined comparative measures primarily because management does not believe they are consistent with the development of our target operating model. Combined comparative results refer to the results for periods prior to the acquisition of Polycom, which were prepared by combining the non-GAAP results of as if they had been combined during that period. These prior period results are presented on a non-GAAP as- reported basis, with immaterial adjustments to align the treatment of non-GAAP adjustments for comparative purposes. We believe that the use of non-GAAP and combined comparative financial measures provides meaningful supplemental information regarding our performance and liquidity and helps investors compare actual results with our historical and long-term target operating model goals as well as our performance as a combined company. We believe presenting non-GAAP net revenue provides meaningful supplemental information regarding how management views the performance of the business and underlying performance of our individual product categories. We believe that both management and investors benefit from referring to these non-GAAP and combined comparative financial measures in assessing our performance and when planning, forecasting and analyzing future periods; however, non-GAAP and combined comparative financial measures are not meant to be considered in isolation of, or as a substitute for, or superior to, net revenues, gross margin, operating expenses, operating income, operating margin, net income or EPS prepared in accordance with GAAP. A reconciliation between GAAP and Non-GAAP measures for all periods presented in this document is included as an appendix to this document and in our press release regarding our results for Q1 FY21 filed with the SEC on Form 8-K on July 27, 2020. Other historical reconciliations are available at investor.poly.com. © 2020 Plantronics Inc. All rights reserved. 3

Q1 FY21 SUMMARY BUSINESS OVERVIEW FINANCIAL OVERVIEW • Elevated Headset and challenging Voice • GAAP Revenue of $356M demand continues Guidance range of $330M - $365M • Studio X30 and X50 ramping • Non-GAAP Revenue of $361M Guidance range of $335M - $370M • In-house manufacturing capable of full production but supply chain issues persist • GAAP EPS of $(1.85) • Strengthened strategic relationships with • Non-GAAP EPS of $0.33 Microsoft, Zoom, and LogMeIn Guidance range of $(0.18) - $0.22 • Proactive expense management drove • Adjusted EBITDA of $48M EBITDA and EPS above guidance ranges Guidance range of $25M - $45M • Cash and ST Investments of $263M © 2020 Plantronics Inc. All rights reserved. 5

A COMPELLING INVESTMENT OPPORTUNITY $41B UC&C1 Market UC&C Market Leader Strategic Innovator • We operate in a $41B UC&C market • Approximately $1.7B in annual • Reinventing the UC&C industry with strong growth drivers revenues and ~$250M TTM EBITDA through product integration, software and analytics • Rise in hybrid work-trends creates • Platform-agnostic, intelligent solutions need for multiple endpoints in multiple • Synergy execution complete • Valuable business insights available locations through unique software and analytics capabilities • Cloud deployments on rise with high demand for analytics and insights • We address an $8B Enterprise Endpoint market growing at 8% 1 Frost & Sullivan, May 2019. © 2020 Plantronics Inc. All rights reserved. 6

OUR STRATEGY Deliver a comprehensive set of endpoints for the UC&C market and differentiate through software Management Analytics Interoperability Video Conference Desktop Headsets Software Services © 2020 Plantronics Inc. All rights reserved. 8

MICROSOFT TEAMS CERTIFICATION Broadest Range of Certified Endpoints • Microsoft Teams Room solutions • Studio USB, X30, and X50 • CCX 400, 500, and 600 • Headsets • Audio conferencing phones • Speakerphones ©2020 Plantronics Inc. All rights reserved. 11

ZOOM CERTIFICATION Broadest Range of Certified Endpoints • Studio USB, X30, X50, and G7500 • VVX x50 Desktop Phones • Audio conferencing phones • Speakerphones • Headsets* * Zoom supported (no official Headset certification at this time) ©2020 Plantronics Inc. All rights reserved. 12

RECENTLY ANNOUNCED NEW PRODUCTS – AS OF JULY 28, 2020 ● Complete ● In progress ● Not applicable1 Category Product General Availability Teams Certified or Compatible Zoom Certified or Compatible Video Studio ⚫ ⚫ ⚫ Poly Studio X30 ⚫ ⚫ ⚫ Poly Studio X50 ⚫ ⚫ ⚫ Poly G7500 ⚫ ⚫ ⚫ Phones Poly CCX 400 ⚫ ⚫ ⚫ Poly CCX 500 ⚫ ⚫ ⚫ Poly CCX 600 ⚫ ⚫ ⚫ Poly VVX x50 Family ⚫ ⚫ ⚫ Audio Conf. Poly Trio C60 ⚫ ⚫ ⚫ Poly Trio 8500 ⚫ ⚫ ⚫ Poly Trio 8800 ⚫ ⚫ ⚫ Calisto 3200 ⚫ ⚫ ⚫ Calisto 5200 ⚫ ⚫ ⚫ Calisto 7200 ⚫ ⚫ ⚫ Headsets Voyager 42xx Office Series ⚫ ⚫ ⚫ Voyager 52xx Office Series ⚫ ⚫ ⚫ Savi Office Series ⚫ ⚫ ⚫ Encore Pro 300 ⚫ ⚫ ⚫ Encore Pro 500 ⚫ ⚫ ⚫ Encore Pro 700 ⚫ ⚫ ⚫ 1 Product either has not yet shipped or is not intended to be certified for this environment. © 2020 Plantronics Inc. All rights reserved. 13

Q1 FINANCIAL SUMMARY1 Non-GAAP Revenue of $361 million: • Continued strong demand for remote work solutions – primarily headsets • Periodic supply constraints continue to impact production • Challenging demand for voice solutions Non-GAAP gross margins of 50.0%, down 580 bps Y/Y: • Impacted by factory underutilization, incremental freight costs, and increased inventory/warranty reserves Non-GAAP operating expenses of $144 million, down $27 million Y/Y: • Primarily due to reduced headcount, hiring, and travel Non-GAAP operating margin of 10.2%, Adj. EBITDA of $48 million Non-GAAP diluted EPS of $0.33 1 Please refer to the appendix to this presentation and to our press release regarding our Q1 FY21 filed with the SEC on Form 8-K on July 28, 2020 for a reconciliation between GAAP and Non-GAAP measures. © 2020 Plantronics Inc. All rights reserved. 16

NON-GAAP REVENUE BY CATEGORY & REGION ($MM) $460 $460 $409 Services 77 APAC 80 $409 $361 71 62 $361 Video 61 69 67 62 EMEA 119 115 Voice 104 66 95 95 Consumer 31 51 Headsets1 13 6 AMER 261 Enterprise 232 187 199 Headsets1 168 169 Q1 FY20 Q4 FY20 Q1 FY21 Q1 FY20 Q4 FY20 Q1 FY21 1 Restated to move mono premium product revenues from Consumer Headsets to Enterprise Headsets © 2020 Plantronics Inc. All rights reserved. 17

TRENDED SALES-OUT FOR NEW VIDEO PRODUCTS Based on Sales-Out1 and includes Studio USB, Studio X30, Studio X50, G75002 ($MM) 25 20 15 10 5 0 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 1 Sales-Out (AKA Sell-Through) data is provided by channel parnters. As a result, Poly is unable to ensure the completeness or accuacy of such data. 2 Studio USB began shipping in Q1FY20, G7500 began shipping in Q2FY20, Studio X30 and X50 began shipping in Q3FY20. © 2020 Plantronics Inc. All rights reserved. 18

NON-GAAP OPERATING DETAILS ($MM) $257 $171 $86 $180 $144 55.8% 50.0% 18.6% $37 37.2% 39.8% 10.2% Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21 Gross Profit Operating Expenses Operating Income • Y/Y decline of $76M or 580 • Y/Y decline of $27M or 16% • Operating income decline basis points due primarily to lower of $49M or 57% driven • Margins impacted by factory headcount, hiring, and primarily by lower revenue underutilization, freight, travel and gross margin inventory and warranty reserves © 2020 Plantronics Inc. All rights reserved. 19

Q2 GUIDANCE (AS OF JULY 28, 2020) Q2 FY21 Guidance GAAP Net Revenue $346M - $386M Non-GAAP Net Revenue1 $350M - $390M Adjusted EBITDA2 $45M - $65M Non-GAAP Diluted EPS2,3 $0.25 – $0.65 1 The non-GAAP revenue guidance range shown here excludes the $4.2 million impact of purchase accounting related to recording deferred revenue at fair value at the time of the acquisition. 2 Q2 Adjusted EBITDA and non-GAAP diluted EPS excludes estimated intangibles amortization expense of $31.4 million. 3 EPS Guidance assumes approximately 41 million diluted average weighted shares and a non-GAAP effective tax rate of 15% to 17%. Poly does not intend to update these targets during the quarter or to report on its progress toward these targets. Poly will not comment on these targets to analysts or investors except by its press release announcing its second quarter fiscal year 2021 results or by other public disclosure. Any statements by persons outside Poly speculating on the progress of the second quarter or full fiscal year 2021 will not be based on internal company information and should be assessed accordingly by investors. Please refer to the appendix in this presentation and to our press release regarding our Q1 FY21 filed with the SEC on Form 8-K on July 28, 2020 for a reconciliation between GAAP and Non-GAAP measures. With respect to adjusted EBITDA and diluted EPS guidance, the Company has determined that it is unable to provide quantitative reconciliations of these forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measures with a reasonable degree of confidence in their accuracy without unreasonable effort, as items including stock based compensation, acquisition and integration costs, litigation gains and losses, and impacts from discrete tax adjustments and tax laws are inherently uncertain and depend on various factors, many of which are beyond the Company's control. Our business is inherently difficult to forecast, particularly with continuing uncertainty in regional economic conditions, currency fluctuations, customer cancellations and rescheduling, and there can be no assurance that expectations of incoming orders over the balance of the current quarter will materialize. © 2020 Plantronics Inc. All rights reserved. 24

4 Quarter Rolling Q2 Q3 Q4 Q1 Forecast ($MM) FY21 FY21 FY21 FY22 Revenue–Deferred GAAP PURCHASE Revenue Fair Value $4.2 $3.3 $1.8 $1.3 Adjustment ACCOUNTING COGS–Intangibles FORECAST $17.2 $16.5 $16.2 $16.2 Amortization SG&A–Intangibles $14.2 $14.2 $14.2 $14.2 Amortization © 2020 Plantronics Inc. All rights reserved. 25

TRENDED NON-GAAP INFORMATION ($MM, except earnings per share data) Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 FY20 Q1 FY21 Non-GAAP Revenue $460 $470 $392 $409 $1,731 $361 Gross Profit $257 $246 $193 $202 $899 $180 Gross Margin 55.8% 52.4% 49.4% 49.4% 51.9% 50.0% Op. Expense $171 $165 $162 $154 $652 $144 Op. Income $86 $81 $31 $48 $247 $37 Op. Margin 18.6% 17.3% 8.0% 11.8% 14.2% 10.2% Diluted EPS $1.32 $1.24 $0.30 $0.30 $3.13 $0.33 Adj. EBITDA $98 $93 $43 $60 $293 $48 Op. Cash Flow $8 $25 -$17 $62 $78 $42 © 2020 Plantronics Inc. All rights reserved. 27

TRENDED NON-GAAP REVENUE DATA Non-GAAP Rev by Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 FY20 Q1 FY20 Category ($MM) Voice $104 $99 $80 $95 $377 $51 Video $61 $90 $70 $62 $284 $66 Services $77 $75 $75 $70 $297 $69 Ent Headsets1 $187 $176 $136 $169 $668 $169 Cons Headsets1 $31 $30 $30 $13 $105 $6 Total Revenue $460 $470 $392 $409 $1,731 $361 Non-GAAP Revenue by Geography Americas $261 $248 $207 $232 $948 $199 EMEA $119 $131 $108 $115 $473 $95 APAC $80 $91 $77 $62 $310 $67 Total Revenue $460 $470 $392 $409 $1,731 $361 1 Restated to move mono premium product revenues from Consumer Headsets to Enterprise Headsets © 2020 Plantronics Inc. All rights reserved. 28

Unaudited Reconciliations of GAAP net revenue to non-GAAP net revenue ($ in thousands) Three Months Ended June 29, September 28, December 28, March 28, June 27, 2019 2019 2019 2020 2020 Net revenues from unaffiliated customers: Enterprise Headsets1 $ 187,668 $ 176,031 $ 136,807 $ 168,002 $ 169,234 Consumer Headsets1 30,982 30,261 30,473 12,962 5,516 Voice 103,847 98,453 79,494 95,265 50,681 Video 60,248 90,392 69,859 61,992 66,027 Services 65,022 66,572 67,838 64,822 64,262 Total GAAP net revenues $ 447,767 $ 461,709 $ 384,471 $ 403,043 $ 355,720 Deferred revenue purchase accounting2 12,159 8,524 7,131 6,138 5,082 Total non-GAAP net revenues $ 459,926 $ 470,233 $ 391,602 $ 409,181 $ 360,802 Net revenues by geographic area from unaffiliated customers: Americas $ 255,940 $ 245,283 $ 204,910 $ 229,900 $ 197,350 EMEA 116,979 128,973 105,931 113,738 94,105 APAC 74,848 87,453 73,630 59,405 64,265 Total GAAP net revenues $ 447,767 $ 461,709 $ 384,471 $ 403,043 $ 355,720 Deferred revenue purchase accounting2 12,159 8,524 7,131 6,138 5,082 Total non-GAAP net revenues $ 459,926 $ 470,233 $ 391,602 $ 409,181 $ 360,802 1 Restated to move mono premium product revenues from Consumer Headsets to Enterprise Headsets. 2 Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company’s deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines.

PLANTRONICS, INC. UNAUDITED RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES ($ in thousands, except per share data) UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS DATA - AS REPORTED Three Months Ended, June 29, September 28, December 28, March 28, June 27. 2019 2019 2019 2020 2020 GAAP Net revenues $ 447,767 $ 461,709 $ 384,471 $ 403,043 $ 355,720 Deferred revenue purchase accounting1 12,159 8,524 7,131 6,138 5,082 Non-GAAP Net revenues $ 459,926 $ 470,233 $ 391,602 $ 409,181 $ 360,802 GAAP Gross profit $ 212,646 $ 206,071 $ 143,846 $ (10,328) $ 156,332 Purchase accounting amortization2 30,000 30,716 30,819 31,018 18,238 Deferred revenue purchase accounting1 12,159 8,547 7,185 6,138 5,082 Consumer optimization — — 10,415 — — Acquisition, integration, and rebranding fees 958 88 46 42 — Stock-based compensation 978 997 1,019 998 833 Impairment charges — — — 174,235 — Non-GAAP Gross profit $ 256,741 $ 246,419 $ 193,330 $ 202,103 $ 180,485 Non-GAAP Gross profit % 55.8% 52.4% 49.4% 49.4% 50.0% GAAP Operating expenses $ 241,495 $ 211,681 $ 220,471 $ 667,546 $ 213,564 Acquisition, integration, and rebranding fees (24,932) (11,218) (8,577) (2,279) (188) Purchase accounting amortization2 (15,278) (15,278) (15,278) (15,278) (14,195) Stock-based compensation (11,926) (13,696) (12,883) (14,598) (8,527) Restructuring and other related charges (19,525) (5,847) (21,724) (7,080) (29,330) Impairment charges — — — (473,996) — (Gain) loss, net from litigation settlements 1,162 — — (419) 17,561 Other adjustments — (542) — — — Non-GAAP Operating expenses $ 170,996 $ 165,100 $ 162,009 $ 153,896 $ 143,763 1 Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company’s deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines. 2 Represents the amortization of purchased intangible assets recorded in connection with the acquisition of Polycom on July 2, 2018.

PLANTRONICS, INC. UNAUDITED RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES ($ in thousands, except per share data) UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS DATA - AS REPORTED (CONTINUED) Three Months Ended June 29, September 28, December 28, March 28, June 27, 2019 2019 2019 2020 2020 GAAP Operating loss $ (28,849) $ (5,610) $ (76,625) $ (677,874) $ (57,232) Purchase accounting amortization2 45,278 45,994 46,097 46,296 32,433 Deferred revenue purchase accounting1 12,159 9,196 7,509 6,138 5,082 Consumer optimization — — 10,415 — — Acquisition, integration, and rebranding fees 25,890 10,657 8,299 2,321 188 Stock-based compensation 12,904 14,693 13,902 15,596 9,360 Restructuring and other related charges 19,525 5,847 21,724 7,080 29,330 Impairment charges — — — 648,231 — (Gain) loss, net from litigation settlements (1,162) — — 419 17,561 Other adjustments — 542 — — — Non-GAAP Operating income $ 85,745 $ 81,319 $ 31,321 $ 48,207 $ 36,722 GAAP Diluted earnings per common share $ (1.14) $ (0.65) $ (1.97) $ (16.56) $ (1.85) Purchase accounting amortization2 1.15 1.16 1.16 1.15 0.80 Deferred revenue purchase accounting1 0.31 0.21 0.18 0.15 0.13 Consumer optimization — — 0.26 — — Stock-based compensation 0.33 0.37 0.35 0.39 0.23 Acquisition, integration, and rebranding fees 0.66 0.29 0.22 0.06 — Restructuring and other related charges 0.49 0.15 0.54 0.18 0.72 Impairment charges — — — 16.11 — (Gain) loss, net from litigation settlements (0.03) — — — 0.43 Other adjustments — 0.01 — — — Income tax effect (0.46) (0.32) (0.44) (1.18) (0.13) Effect of anti-dilutive securities 0.01 0.02 — — — Non-GAAP Diluted earnings per common share $ 1.32 $ 1.24 $ 0.30 $ 0.30 $ 0.33 Shares used in diluted earnings per common share calculation: GAAP 39,239 39,584 39,784 40,025 40,460 non-GAAP 39,523 39,664 39,870 40,235 40,620 1 Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company’s deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines. 2 Represents the amortization of purchased intangible assets recorded in connection with the acquisition of Polycom on July 2, 2018.

PLANTRONICS, INC. UNAUDITED RECONCILIATIONS OF GAAP OPERATING INCOME TO ADJUSTED EBITDA ($ in thousands) UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS DATA Twelve Months Three Months Ended Ended September December June 29, 28, 28, March 28, June 27, June 27, 2019 2019 2019 2020 2020 2020 GAAP Net Income $ (44,871) $ (25,910) $ (78,483) $ (662,820) $ (75,015) $ (842,228) Tax provision (7,576) (4,122) (19,708) (37,995) (3,177) (65,002) Interest Expense 23,932 23,797 22,533 22,378 21,184 89,892 Other Income and Expense (333) 625 (967) 562 (224) (4) Deferred revenue purchase accounting1 12,159 8,524 7,131 6,138 5,082 26,875 Acquisition, integration, and rebranding fees 25,890 11,329 8,677 2,321 — 22,327 Consumer optimization — — 10,415 — 197 10,612 Stock-based compensation 12,904 14,693 13,902 15,596 9,360 53,551 Restructuring and other related charges 19,525 5,847 21,724 7,080 29,330 63,981 Impairment charges — — — 648,231 — 648,231 (Gain) loss, net from litigation settlements (1,162) — — 419 17,561 17,980 Other adjustments — 542 — — — 542 Depreciation and amortization 57,698 57,376 57,556 57,632 43,400 215,964 Adjusted EBITDA $ 98,166 $ 92,701 $ 42,780 $ 59,542 $ 47,698 $ 242,721 1 Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company’s deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines.

PLANTRONICS INC /CA/ - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - July 28, 2020

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