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Sonder Holdings Inc. (Nasdaq: SOND) (“Sonder” or the “Company”) today announced a series of actions intended to strengthen its balance sheet and generate significant cost savings, and provided an update on its integration with Marriott International, Inc. (Nasdaq: MAR) (“Marriott”):

Sale of approximately $18 million shares of its Series A preferred stock on April 11, 2025;

Amendments to the existing Note and Warrant Purchase Agreement, which include a reduction of the outstanding principal balance by 15% and an approximate 50% reduction of the interest rate;

Full integration with Marriott's digital channels and platform anticipated by the end of second quarter of 2025;

Receipt of $7.5 million in previously announced key money from Marriott on April 11, 2025; and

Implementation of approximately $50 million of annualized cost reductions enabled by the Marriott integration.