SRS Labs, Inc.
(NASDAQ:SRSL), officially recognized as one of America’s Greatest Brands and the industry
leader in surround sound, audio and voice technologies today announced the completion of a
licensing agreement with Qualcomm Incorporated for the distribution of SRS audio technologies
within Qualcomm’s Snapdragon™ chipsets.

“This agreement with Qualcomm is a significant step forward in cementing our worldwide
leadership in mobile audio enhancement solutions,” said Bob Lyle, managing director of global
business development for SRS Labs, Inc. “Rapid advancements in the availability of HD-quality
video for mobile devices as well as the popularity of mobile gaming are driving consumer
demand for enhanced, HD-quality audio and 3D audio effects. Given SRS’ know-how of
advanced surround sound and 3D audio solutions, we are confident that our class-leading audio
enhancement technologies will be a great addition to Qualcomm’s already impressive line of
dual-core CPU chipsets, significantly augmenting their audio and multimedia capabilities.”

Qualcomm has licensed SRS Labs’ industry-leading audio APIs, including SRS’ OpenSL ES
and OpenAL audio API solutions for mobile devices. In addition, Qualcomm will make available
several of SRS’ audio IPs to the company’s Snapdragon dual-core CPU chipsets, including SRS
TruMedia™, WOW HD™, CS Headphone™ (CSHP) and SRS TruGaming™, a 3D positioning
technology designed specifically for mobile games. SRS’ mobile technologies have shipped in
several million Android and Windows Phone 7 devices to date.

“We are excited to be working with SRS Labs to bring HD-quality audio to the mobile
device market,” said Raj Talluri, vice president of product management at Qualcomm CDMA
Technologies. “Adding SRS Labs’ advanced audio technologies and enabling them to take
advantage of Qualcomm’s high performance and low power DSP inside the Snapdragon chipset
brings significant value to our customers. This showcases Qualcomm’s commitment to evolve
and enhance its mobile multimedia and audio capabilities.”

A demonstration of SRS and Qualcomm’s joint solutions will be available at CTIA Wireless
2011, in Qualcomm’s booth, #3419, at the Orange County Convention Center in Orlando March
22-24, 2011.

For more information on SRS Labs’ advanced mobile device audio software or to learn more
about other SRS audio solutions, please contact us at pr@srslabs.com.

About SRS Labs, Inc.
Founded in 1993, SRS Labs is the industry leader in audio signal processing for consumer
electronics across the four screens: TV; PC; Mobile Phones; and Automotive Entertainment
Systems. Beginning with the audio technologies originally developed at Hughes Aircraft,
SRS Labs holds over 150 worldwide patents and is recognized by the industry as the foremost
authority in research and application of audio post processing technologies based on the human
auditory principles. Through partnerships with leading global CE companies, semiconductor
manufacturers, software developers, and content aggregators, SRS is recognized as the de
facto standard in audio enhancement, surround sound, volume leveling, audio streaming, and
voice processing technologies. SRS solutions have been included in over two billion electronic
products sold worldwide including flat panel HDTVs, AV products, STBs, PCs, mobile
phones, and automotive entertainment and telematics systems. For more information, visit
www.srslabs.com.

Except for historical information contained in this release, statements in this release, including
those by Mr. Lyle, may constitute forward-looking statements regarding our assumptions,
projections, expectations, targets, intentions or beliefs about future events that are based on
management’s belief, as well as assumptions made by, and information currently available to,
management. While the Company believes that its expectations are based upon reasonable
assumptions, there can be no assurances that the Company’s goals and strategy will be realized.
Numerous factors, including risks and uncertainties, may affect the Company’s actual results
and may cause results to differ materially from those expressed in forward-looking statements
made by or on behalf of the Company. Some of these factors include the acceptance of new SRS
Labs’ products and technologies, the impact of competitive products and pricing, the timely
development and release of technologies by the Company, general business and economic
conditions, especially in Asia, and other factors detailed in the Company’s Form 10-K and
other periodic reports filed with the SEC. SRS Labs specifically disclaims any obligation to
update or revise any forward-looking statement whether as a result of new information, future
developments or otherwise.

Qualcomm is a registered trademark of Qualcomm Incorporated. Snapdragon is a trademark of
Qualcomm Incorporated. All other trademarks are the property of their respective owners.

Khronos, and OpenSL ES are trademarks of the Khronos Group Inc. All other product names,
trademarks, and/or company names are used solely for identification and belong to their
respective owners.