Exhibit 99.1 FOR IMMEDIATE RELEASE SLEEP NUMBER ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS • Fourth quarter net sales declined 14% versus the prior year with demand down low-single digits • Full year diluted loss per share of $0.68; full year “as adjusted” loss per share of $0.14, excluding $16 million of restructuring costs recorded in the fourth quarter • Reduced operating expenses by $85 million in 2023; expect a further expense reduction of $40 million to $45 million in 2024 for a two-year tota ...