#1MillerKnoll Investor Presentation Fourth Quarter FY23 NASDAQ: MLKN#2INVESTOR PRESENTATION 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, as amended, that are based on management's beliefs, assumptions, current expectations, estimates, and projections about the office furniture industry, the economy, and the company itself. Any statements that are not historical facts should be considered forward-looking statements. Words like "anticipates," "believes," "confident," "estimates,” “expects," "forecasts," likely," "plans," "projects," "should," variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and are not intended as such. Actual results are subject to various risks and uncertainties that are difficult to predict with regard to timing, extent, likelihood, and degree of occurrence. These risks include, without limitation: • • • the success of our growth strategy our ability to comply with our debt covenants and obligations, which increased significantly in connection with our acquisition of Knoll employment and general economic conditions, including the risk of adverse economic and industry conditions the availability and pricing of raw materials and other supplies our ability to expand globally given the risks associated with regulatory and legal compliance challenges and accompanying currency fluctuations changes in tax legislation or interpretation of current tax legislation the ability to increase prices to absorb the additional costs of raw materials • changes in global tariff regulations • the financial strength of our dealers and our customers • changes in white-collar employment levels the willingness of customers to undertake capital expenditures the types of products purchased by customers competitive-pricing pressures our ability to locate new retail studios and negotiate favorable lease terms for new and existing locations our ability to attract and retain key executives and other qualified employees our ability to continue to make product innovations and the success of newly-introduced products the pace and level of government procurement the outcome of pending litigation, governmental audits, and/or investigations political risk in the markets we serve natural disasters, public health crises, and disease outbreaks other risks identified in our filings with the SEC As a result of these risks and other risks that may materialize, actual results and outcomes may differ significantly from what we express or forecast in this presentation. We undertake no obligation to update, amend, or clarify forward-looking statements after the date of this presentation. MillerKnoll#3Company Snapshot#4The MillerKnoll Collective NaughtOne maars LIVING WALLS GEIGER mu WE OWN 16 OF THE WORLD'S MOST DYNAMIC DESIGN BRANDS spinneybeck filzfelt DESIGN WITHIN REACH Knoll Tex HAY Herman Miller DATES WEISER Knoll HOLLY colebrook bosson saunders maha LAQI → Each brand offers a distinct perspective on design and a full portfolio of products to suit diverse needs#5We Have Global Brands Divided in Three Segments Sold Through Multiple Channels $4.1B FY 23 Revenue 16 70+ 1,000+ 11,000 Contract Dealers Brands Retail Stores in 110 Countries Employees around the globe Int'l & Specialty 25% Retail 25% Americas 50%#6ACCESSIBLE PREMIUM maars LIVING WALLS DATESWEISER spinneybeck filzfelt* colebrook bosson saunders COMMERCIAL GEIGER Herman Miller maharam O/I NaughtOne Knoll MUUTO KnollStudio HOLLY HUNT KnollTextiles ① EDELMAN LEATHER DESIGN WITHIN REACH Bubble size indicates relative revenue HAY Our Complementary Collective of Brands Delivers Design Solutions for Commercial + Residential Needs RESIDENTIAL#7Our Competitive Advantages Collection of Superior Brands Design Leadership Global Footprint LAQU Unmatched Product Portfolio Extraordinary People Diversified Business Model#8Investment Thesis Diversified Revenue Growth ➤ Global brands. ➤ Multiple channels. ➤ Diversified customer segments. Margin Expansion ➤ $145M commitment of cost synergies post Knoll acquisition. Targeted actions to improve operating efficiency. ➤ Creating centers of excellence ➤ Consolidating production ➤ Leveraging our manufacturing scale. Disciplined Capital Stewardship ➤ $93 million of cash flow from operations in Q4 FY23. ➤ $48.4 million of debt paid in Q4 FY23. ➤ 2.5x Net Debt to EBITDA ratio as of Q4 FY23.#9STRATEGIC CONTEXT: WHAT IS IMPACTING DEMAND? Macro-Economic Drivers BIFMA North America Orders 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% -40.0% Feb-21 Apr-21 Aug-21 Jun-21 Oct-21 Dec-21 Feb-22 Apr-22 Jun-22 Aug-22 Oct-22 Dec-22 Source: BIFMA, April 2023 Existing Home Sales (THOUSANDS OF UNITS) Feb-23 Apr-23 U.S. Architects Billing Index AIA Consensus Construction Forecast (% YOY GROWTH) 2023 2024 Non-Residential 5.8% 0.8% 55 Commercial Total 2.6% -1.4% 45 Office -0.5% -0.7% 40 Health 5.5% 3.2% ៩៩៦ ៖ ទា 8 8 > 70 65 60 50 35 30 Education 3.0% 4.6% Hotel 9.5% 5.3% Source: The American Institute of Architects, Jan 2023 Housing Starts (THOUSANDS OF UNITS) History 1-Apr 1-May 1-Jun Furniture and Home Furnishing Stores ANNUAL SALES GROWTH Source: The American Institute of Architects 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec 1-Jan 1-Feb 1-Mar 1-Apr 1-May Forecast 50.00% History Forecast 2000 40.00% 8000 30.00% 1500 1601 20.00% 1553 1530 6000 1380 1410 10.00% 6120 1000 5640 4000 5030 5260 0.00% 4470 500 2000 -10.00% -20.00% -30.00% 0 0 2020 2021 Source: Ntl. Assoc. of Realtors U.S. Economic Outlook, Mar 2023 2022 2023 2024 2020 2021 2022 2023 2024 Source: Ntl. Assoc. of Realtors U.S. Economic Outlook, Mar 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Source: US Census Bureau; 2023 reflecting YTD through May vs. prior YTD May Other Leading Economic Indicators include: Corporate profitability, service sector employment, Office vacancy rates, CEO and small business confidence#10Strategic Priorities Knoll ANDERSON#11STRATEGIC PRIORITIES Our strategy is centered around five priorities 1 2 3 4 5 Bring MillerKnoll to life Build a customer-centric, digitally-enabled ecosystem Accelerate profitable growth Attract, develop, and retain world-class talent Reinforce our commitment to our People, our Planet and our Communities#12STRATEGIC CONTEXT Bring MillerKnoll to life oll IXIXIZ Redefinir le design moderne pour le 21° siècle 1 Tout est une action C'est notre curiosité, notre optimisme et notre détermination. C'est ainsi que nous façonnons le monde pour le mieu pour tout le monde. Establish and build the MillerKnoll culture Fully deliver on our synergy commitments and successfully execute our integration plans Cultivate and enable the world's strongest global dealer distribution network#13STRATEGIC CONTEXT Build a customer-centric, digitally-enabled ecosystem Q. Search SHOP NEKALE DESIGN WITHIN REACH New Arrivals Furniture Work from Home Storage Outdoor Bed+Bath Rugs Lighting Accessories Shop By Style NEW ARRIVALS Entertain with ease Take a relaxed approach to entertaining that puts both you and your guests at ease. Sarah Ellison's new Earth Table creates an intimate setting for casual conversation, while refreshed Eames Chairs from the new Herman Miller x HAY Collection add a soothing wash of color. Shop New Arrivals Leverage deep understanding of customers to create industry-leading marketplaces LOCATIONS SUPPORT & O Robin What's Your Average Utilization? 61° ** Unify key systems and platforms and make data more accessible Accelerate automation and manufacturing 4.0 initiatives globally 2#14STRATEGIC CONTEXT Accelerate profitable growth HAY naughtone GEIGER mars LIVING WALLS Herman Miller mu KnollTes HOLLY Knoll mahar EDELMAN MillerKnoll DESIGN WITHIN REACH Fortify the flagship Herman Miller and Knoll brands, while nurturing and growing Specialty brands Position Americas Contract business to become the undisputed leader in the segment and drive outsized growth in International Contract Transform our Global Retail business 3 Lead the industry in product innovation and design excellence#15STRATEGIC CONTEXT Attract, develop and retain world-class talent Enable a seamless, global MillerKnoll employee experience via a global Human Resources technology platform Standardize and emphasize a global talent management and succession planning capability Invest to make MillerKnoll an employer of choice for all employees worldwide 4#16STRATEGIC CONTEXT Reinforce our commitment to our People, our Planet and our Communities erKnoll lerKno 5 VOLUNTEERS AT WORK MillerKnoll Shape an inclusive and diverse ecosystem Deliver on our 2030 Sustainability Goals Elevate our Better World Commitment ONE#17Financial Performance#18FINANCIAL PERFORMANCE Strong track record of financial performance Revenue ($ BILLIONS) Adjusted EPS1 Free Cash Flow1 ($ MILLIONS) $4.5 $3.50 $300 $4.0 $250 $4.1 $273 $3.00 $3.9 $3.5 $3.07 $2.98 $200 $2.50 $3.0 $2.61 $150 $2.5 $2.00 $153 $2.6 $100 $131 $2.5 $2.5 $1.92 $2.0 $1.85 $1.50 $50 $80 $1.5 $1.00 $- $1.0 FY19 FY20 FY21 FY23 $0.50 $(50) $0.5 $(107) $(100) $- $- FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 $(150) {COVID Impact years} {COVID Impact years} {COVID Impact years} 1 See Appendix slide 3 1 Cash flow from operations less capital expenditures Knoll was acquired in July 2021 and is reflected in figures beginning FY22#19FINANCIAL OUTLOOK Disciplined capital allocation approach focused on value creation 1. Support Growth ($ MILLIONS) CAPEX R+D 2. Targeted M&A Investments in M&A, including the following acquisitions in the past 5 years: Cash 71 68 • Knoll • HAY • naughtone 180 160 140 59 120 54 100 51 95 80 86 83 60 69 60 40 60 20 0 FY19 FY20 FY21 FY22 FY23 3. Strong & Flexible Balance Sheet 4. Capital Returns to Shareholders ($ MILLIONS) DIVIDENDS SHARE REPURCHASE Q4 FY23 100 $224M 90 48 Long-term Debt $1,365M 80 70 16 16 Net Debt to EBITDA Ratio' 2.5x 60 27 27 50 57 40 57 40 Revolver Avail. $284M 40 46 1 30 36 33 33 20 10 0 FY19 FY20 FY21 FY22 FY23 * Per the measure allowed under our bank agreement#20Recent Quarterly Financial Trends#21Recent quarterly financial trends Quarterly Net Sales + Orders ($ MILLIONS) 1,200.0 1,000.0 1,078.8 1,066.9 1,013.1 1,013.4 984.7 956.7 800.0 922.4 885.4 600.0 400.0 200.0 0.0 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Quarterly Operating Expenses ($ MILLIONS) 400 350 300 309.7 303.9 297.6 250 277.6 200 150 100 50 0 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Adjusted Gross Margin and Adjusted Operating Margin 1 (% NET SALES) 40.0% 34.5% 34.5% 35.7% 37.0% Net Sales Orders 30.0% 20.0% 5.8% 6.0% 7.5% 5.9% 10.0% 0.0% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Adj Gross Margin % Adj Op. Margin % Special Charges (1) See appendix for reconciliation of non-GAAP measures Reported Q4 FY23 net sales decreased 13.1% and orders decreased 9.0% from the prior year. On an organic basis, sales decreased 12.0% and orders decreased 7.8%. Adjusted gross margin in Q4 FY23 reflected a 220-basis point increase over the prior year. The year-over-year increase in both reported and adjusted gross margin was mainly driven by the realization of recently implemented price increases and benefits from integration synergies. Earnings per share in Q4 FY23 totaled $0.00 per share on a reported basis and $0.41 on an adjusted basis, compared to $0.28 per share last year on a reported basis and $0.58 per share on an adjusted basis.#22Recent quarterly financial trends Quarterly Cash Flow from Operations ($ MILLIONS) 120 100 80 60 40 60 76 60 16 20 0 $600 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 -20 $400 -40 -65 -60 $200 $216 -80 $0 Q1 FY23 93 Quarterly Net Debt ($ MILLIONS) $1,600 $1,400 $1,200 $1,000 $800 $1,484 $1,435 $1,415 $1,365 |]]]] $224 $198 $217 Q2 FY23 Q3 FY23 Q4 FY23 Net Debt to EBITDA Ratio (1) (Q4 FY23) 2.5x (1) See appendix for reconciliation of non-GAAP measures Cash Long-Term Debt#23Q1 and Full Year FY24 Guidance() Revenue Gross Margin % Adjusted Operating Expenses Q1 FY24 $880 million to $920 million 36.5% to 37.5% $288 million to $298 million Interest and Other Expense, Net $18 million to $19 million Effective Tax Rate Adjusted Earnings Per Share, Diluted 21.5% to 23.5% $0.18 to $0.24 (*) as provided in the eamings press release dated July 12, 2023 FY24 Full Year $1.70 to $2.00#24Appendix Non-GAAP Financial Measures and Other Supplemental Data#25Non-GAAP Financial Measures and Other Supplemental Data MillerKnoll The adjustments to arrive at these non-GAAP financial measures are as follows: Amortization of purchased intangibles: Includes expenses associated with the amortization of inventory step-up and amortization of acquisition related intangibles acquired as part of the Knoll acquisition. The revenue generated by the associated intangible assets has not been excluded from the related non-GAAP financial measure. We exclude the impact of the amortization of purchased intangibles, including the fair value adjustment to inventory, as such non-cash amounts were significantly impacted by the size of the Knoll acquisition. Furthermore, we believe that this adjustment enables better comparison of our results as Amortization of Purchased Intangibles will not recur in future periods once such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets. Although we exclude the Amortization of Purchased Intangibles in these non-GAAP measures, we believe that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Acquisition and integration charges: Costs related directly to the Knoll acquisition including legal, accounting and other professional fees as well as integration-related costs. Integration-related costs include severance, accelerated stock-based compensation expenses, asset impairment charges, and expenses related to other cost reduction efforts or reorganization initiatives. Debt extinguishment charges: Includes expenses associated with the extinguishment of debt as part of financing the Knoll acquisition. We excluded these items from our non-GAAP measures because they relate to a specific transaction and are not reflective of our ongoing financial performance. Gain on sale of dealer: Includes the gain recorded on the divestiture of an owned dealership. 1#26Non-GAAP Financial Measures and Other Supplemental Data MillerKnoll Restructuring charges: Includes actions involving targeted workforce reductions as well as non-impairment charges related to the closure of the Fully business. Impairment charges: Includes non-cash, pre-tax charges for the impairment of intangible assets, right of use assets, and other assets related to the closure of the Fully business and impairment of the Knoll trade name. Special charges: Special charges include certain costs arising as a direct result of the COVID-19 pandemic. Tax related items: We excluded the income tax benefit/provision effect of the tax related items from our non-GAAP measures because they are not associated with the tax expense on our ongoing operating results. Certain tables below summarize select financial information, for the periods indicated, related to each of the Company's reportable segments. The Americas Contract ("Americas") segment includes the operations associated with the design, manufacture and sale of furniture products directly or indirectly through an independent dealership network for office, healthcare, and educational environments throughout North and South America. The International Contract and Specialty ("International & Specialty") segment includes the operations associated with the design, manufacture and sale of furniture products, indirectly or directly through an independent dealership network in Europe, the Middle East, Africa and Asia-Pacific as well as the global operations of the Specialty brands, which include Holly Hunt, Spinneybeck, Maharam, Edelman, and Knoll Textiles. The Global Retail ("Retail") segment includes global operations associated with the sale of modern design furnishings and accessories to third party retailers, as well as direct to consumer sales through eCommerce, direct-mail catalogs, and physical retail stores. Corporate costs represent unallocated expenses related to general corporate functions, including, but not limited to, certain legal, executive, corporate finance, information technology, administrative and acquisition-related costs. 2#27Non-GAAP Financial Measures and Other Supplemental Data Reconciliation of Operating Earnings (Loss) to Adjusted Operating Earnings (Loss) Three Months Ended June 3, 2023 May 28, 2022 Twelve Months Ended June 3, 2023 May 28, 2022 MillerKnoll. Inc. Net sales 956.7 Gross margin Total operating expenses Operating earnings 354.7 37.1 % 343.1 35.9 % $ 11.6 1.2 % $ 100.0 % $ 1.100.5 382.5 325.5 57.0 100.0 % $ 4.087.1 34.8 % 1.430.0 29.6 % 1.307.7 5.2 % $ 122.3 100.0 % $ 3.946.0 35.0 % 1.352.7 32.0 % 3.0 % $ 100.0 % 34.3 % 1.312.9 33.3 % 39.8 1.0 % Adjustments Restructuring Charges 14.2 1.5 % 34.0 0.8 % - % Acquisition and integration charges 53 0.6 % 7.5 0.7 18.0 0.4 % 124.5 3.2 % Amortization of purchased intangibles 5.9 0.6 % 6.7 0.6 25.3 0.6 % 63.4 1.6 % Gain on Sale of Dealer - % (2.0) (0.1)% Impairment charges 19.7 2.1 % 56.9 1.4 % ―% Adiusted operating earnings 56.7 5.9 % $ 71.2 6.5 % $ 256.5 6.3 % $ 225.7 5.7 % Reconciliation of Earnings (Loss) per Share to Adjusted Earnings per Share Three Months Ended Twelve Months Ended (Loss) earnings per share - diluted Add: Amortization of purchased intangibles Add: Acquisition and integration charges Add: Restructuring charges Add: Impairment charges Add: Special charges Add: Debt extinguishment June 3, 2023 May 28, 2022 June 3, 2023 May 28, 2022 $ $ 0.28 $ 0.55 $ (0.37) 0.08 0.09 0.33 0.87 0.07 0.10 0.24 1.71 0.19 0.45 0.27 0.76 (0.01) 0.18 Less: Gain on sale of dealer (0.03) Tax impact on adjustments Adjusted earnings per share - diluted $ (0.20) 0.41 $ 0.11 (0.48) (0.43) 0.58 $ 1.85 $ 1.92 Weighted average shares outstanding (used for calculating 75,586,370 76,364,706 76,024,368 adjusted earnings per share) - diluted 73,160,212 3#28Non-GAAP Financial Measures and Other Supplemental Data Reconciliation of Gross Margin to Adjusted Gross Margin Gross margin Restructuring Charges Amortization of purchased intangibles Impairment charges Adjusted gross margin Three Months Ended June 3, 2023 $ 354.7 37.1 % $ May 28, 2022 382.5 June 3, 2023 34.8 % $ 1,430.0 35.0 % $ 1,352.7 Twelve Months Ended May 28, 2022 34.3 (0.4) % - % (0.4) — % % % 0.1 0.1 % % 12.8 0.3 % - % 15.7 0.4 % $ 354.3 37.0 % $ 382.6 34.8 % $ 1,445.3 35.4 % $ 1,365.5 34.6 % Reconciliation of Operating Expenses to Adjusted Operating Expenses Three Months Ended Twelve Months Ended June 3, 2023 Operating expenses $ 343.1 35.9 % $ May 28, 2022 325.5 June 3, 2023 May 28, 2022 29.6 % $ 1,307.7 32.0 % $ 1,312.9 33.3 % Restructuring charges 14.6 1.5 % - % 34.4 0.8 % % Acquisition and integration charges 5.3 0.6 % 7.5 0.7 % 18.0 0.4 % 124.5 3.2 % Amortization of purchased intangibles 5.9 0.6 % 6.6 0.6 % 25.3 0.6 % 50.6 1.3 % Gain on Sale of Dealer - % % % (2.0) (0.1)% Impairment charges 19.7 2.1 % % 41.2 1.0 % Adjusted operating expenses $ 297.6 31.1 % $ 311.4 28.3 % $ 1,188.8 29.1 % $ 1,139.8 28.9 % 4#29Non-GAAP Financial Measures and Other Supplemental Data Adjusted EBITDA and Adjusted EBITDA Ratio (provided on a trailing twelve-month basis) Net earnings Income tax expense Depreciation expense Amortization expense Interest expense Other adjustments Adjusted EBITDA - bank Total debt, less cash, end of trailing period (includes outstanding LC's) Net debt to adjusted EBITDA ratio *Other Adjustments" include, as applicable in the period, charges associated with business restructuring actions, impairment expenses, non-cash stock-based compensation, and other items as described in lending agreements. June 3, 2023 $ 42.1 4.5 115.3 60.6 74.0 177.3 473.8 $ 1.188.8 2.51 5