#1ecicase 926 Beads & Investor Presentation FY2024 Third Quarter SteelcaseⓇ LE#2Investment Thesis: After several years of significant disruption, we believe the office will continue to be very relevant for innovation, culture and collaboration. An industry leader in a changing workplace Efforts to diversify revenue base Experienced management team and conservative capital policy Mid-term targets include $50M+ of cost reduction savings#3Mid-Term (4-5 years) Financial Targets Adjusted Operating Income ($ Millions) $400 $3.7 $300 $200 5-7% Average annual organic revenue growth Revenue ($ Billions) $4 6-7% Adjusted operating income margin $3.2 ->>> $2.6 $2.8 $3 $2 $100 1.3% 7.2% 4.1% 3.3% $0 FY20 FY21 FY22 FY23 $1 6-7% $- Mid-Term Targets Adjusted Operating Income Revenue % = adjusted operating income margin ~ 5% Free cash flow as a % of revenue#4Net Debt ($ Millions) Our Balance Sheet Provides Stability Through Business Cycles FY2024 Third Quarter ($ Millions) $1,500 $250 $0 $1,000 $500 9 $0 -$250 FY19 FY20 FY21 FY22 FY23 TFQ Net Debt / Adjusted EBITDA Equity 1.5 1.0 0.5 Credit Facility 0.0 COLI* -0.5 Debt -1.0 Cash** -1.5 FY19 FY20 FY21 FY22 FY23 TFQ Liquidity Profile Capital Base *COLI: Company-owned life insurance **Cash and Cash Equivalents#5A respected leader with strong global market share differentiated by our research-based approach to innovation. Leading Global Office Furniture Market Manufacturers Revenue* ($ in Billions) Steelcase MillerKnoll** Haworth HNI*** $1.6 *Most recently published trailing four quarters data **Retail segment excluded ***Workplace Furnishings only $3.2 $3.0 $2.5 $3.2B $210M Billion Revenue Million adjusted in FY2023 EBITDA in FY2023 1.1x Net debt to Adjusted EBITDA (FY2023 year-end) 770 Steelcase dealer locations as well as our online Steelcase store and other retail partners 12,000 Employees (FY2023 year-end)#6Unique Global Capabilities Steelcase FY2023 Segment Revenue (Mix %) International 25% 770 Steelcase dealer locations 65+ Steelcase locations in 17 countries 15 Manufacturing locations including 8 outside North America Americas 75%#7Research Drives Innovation and Breakthrough Design Steelcase invests in human-centered research about the ways and places people work, directly and in collaboration with leading research organizations, to uncover insights that lead us to innovation and breakthrough design. Select Research Partners • Arizona State University • ARUP • Battelle . Georgia Tech • . Illinois Institute of Technology, Institute of Design Institute of the Future Research driven insights inform everything we do from new product development to customer resources. • Kantar Logitech • Microsoft . Multistudio • Oregon Institute of Technology Philips • Signify WB . Skidmore, Owings & Merrill • University of Melbourne University of Michigan • University of New South Wales Sydney Steelcase . Virginia Tech no fack- Tame out want Falm 2 Design, Insights. Research. rld of Design The Design Issue "We have boys made objects with character and spirit, and being able to craft this emotion into an object for today's working environment is key to our existence. Our designers like rule breaking." Design Decor U Established SONS#8Our Research Steelcase Global Research a Key Findings Hybrid work will continue to evolve, but today most people are in the office most of the time. The biggest things people want from the office are very pragmatic solutions to help them collaborate and effectively do focus work. Steelcase and its broad portfolio is well positioned to help customers navigate the next era of work because our global research and insights inform the designs of new products, solutions and spaces in all the places where work happens. 63,000+ Employees 11 Countries 13 Primary Studies Source: Steelcase Global Research March 2022-Ongoing 70% of global employees work 3+ days in the office. It varies by a variety of factors. People are struggling. Productivity, connection to culture, and work-life balance have decreased. Likelihood to leave has increased. Employees expect the office to help them collaborate, focus and make connections.#9What the Research Says What People Want To improve employee experiences, people want space improvements: 1. More individual privacy 2. Assigned workstation 3. Larger individual space 4. Personal ergonomic furniture Top Reasons People Come to the Office 1 Collaboration 2 Focus work 3 Access tools and technology 4 Sense of belonging 5 Feel shared purpose 6 Connect with leaders 7 Socialize Source: Steelcase Global Research, Late 2022#10Our Brand Promise We help people do their best work by creating places that work better. Steelcase serves leading organizations with furnishings and solutions for the many places where work happens — including learning, health and work from home. Our solutions come to life through our community of expert Steelcase dealers, as well as our online Steelcase store and other retail partners.#11Steelcase Steelcase HEALTH Steelcase LEARNING AMQ coalesse DESIGNTEX HAL C Def Cantaner Dehne Jak uncover caster hode final Opportunities orangebox Smith System viccarbe Revenue Mix by Customer Segment 36% 3% 13% 17% 10% 10% 3% 8% ■ Small + Medium Businesses Education ■ Healthcare ■Consumer ■ Government Owned Dealers Large Corporate ■DesignTex Chart represents Americas FY23 percentage of revenue by customer segment#12Our Strategic Priorities Our strategy is reinforced by an unwavering external focus, a deep commitment to insights-based product innovation, and a resilient dedication to create seamless and inspiring customer experiences. Lead the transformation of the workplace Diversify the Improve customer and our profitability market segments we serve Use our business to help the world work better#13• Lead the transformation of the workplace Grow our market share in serving large corporate companies Be the most trusted partner in the new ways of working • Lead in product innovation • Deliver seamless work experiences by integrating technology + place INTING N FORATED FLORK Raised bands (4) A Raton PARALLEL CREATIVE Round 3 UI/UX recent m Du Dich mentioned at the tuly promotional Could you make the Ouray for Corn Sard me any follow up Can you g Charte de S Damla Dwish metered that the ens hadi wame changes to o design for they premiera sa page Could you make the ede te our Wadrassay an#140 3 Diversify the customer and market segments • • we serve Build on our strong momentum in education with Steelcase Learning Drive higher market share among small and medium businesses Amplify our Steelcase Health business . Expand our consumer business#155-Grip · Improve our profitability Capture benefits from pricing actions Optimize operations - pursuing lean, efficient platforms and mid-term target (4-5 years) of $50M+ cost reductions Drive value through business transformation Re-allocate investments toward strategic priorities#16People + Planet We work towards better futures for people by caring for each other to make a positive, lasting impact in our communities and around the world. - We work towards better futures for the planet, by designing and manufacturing products that respect our natural world, while helping to restore its resources. We act with integrity by holding ourselves to the highest standard of ethical conduct — building trust among our diverse stakeholders. To do this we: Help Communities Thrive Foster Inclusion Act with Integrity To do this we: Reduce our carbon footprint Design for circularity Chose and use materials responsibly To do this we: We live our core values We hold partners, dealers and suppliers to high standards of responsible and honest conduct We build fair supplier relationships We embed sound governance practices across the organization, from compliance and risk, to anti- corruption and corporate oversight#17Recognized for sustainability leadership and civic engagement. FORTUNE WORLD'S MOST ADMIRED COMPANIES 2023 One of the World's Most Admired Companies by Fortune for seventeen years AMERICA'S MOST RESPONSIBLE COMPANIES 2022 Newsweek statista 100 LGBTQ+ Eight-time perfect score recipient of the Human Rights Campaign's Best Places to Work for LGBTQ Equality CDP SUPPLIER ENGAGEMENT LEADER 2022 Forum and The Founcer The Circulars 2018 FINALIST The Young Global Leaders Award for Circular Economy SME thecirculairs.org Multinational Finalist in the Circulars Awards from the World Economic Forum for circular economy leadership. Better PlantsⓇ U.S. DEPARTMENT OF ENERGY Named a 2022 Most Responsible Company by Newsweek Named CDP Supplier Engagement Leader in 2022 amongst the top 8% of companies Awarded 2023 Better Practice Award from the U.S. Dept. of Energy's Better Plants Program GOLD 2023 ecovadis Sustainability Rating WSJ 100 MOST SUSTAINABLY MANAGED COMPANIES 2020 THE CIVIC 50 Our ecovadis score was in the top 2% of large furniture manufacturers globally. Recognized by WSJ as a Most Sustainably-Managed Company in 2020 Recognized by The Civic. 50 as one of the 50 most civic-minded companies in the country#18Capital Allocation Priorities Our capital allocation philosophy contains a balance of reinvestment in the business, acquisitions, dividends, and opportunistic share repurchases. Capital Expenditures and Research & Development ($ Millions) ■Capital Expenditures ■Research & Development $100 Dividends and Share Repurchases ($ Millions) $100 ■Dividends ■Repurchases $0 90 FY19 FY20 FY21 FY22 FY23 TFQ $0 FY19 FY20 FY21 FY22 FY23 TFQ=Trailing Four Quarters Acquisitions (calendar year acquired) AMQ orangebox Smith System 2017 2018 HALCO viccarbe 2019 2020 2021 2022 2023#19Appendix#20Forward Looking Statements From time to time, in written and oral statements, the company discusses its expectations regarding future events and its plans and objectives for future operations. These forward-looking statements discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to the company, based on current beliefs of management as well as assumptions made by, and information currently available to, the company. Forward-looking statements generally are accompanied by words such as "anticipate," "believe," "could,” “estimate,” “expect,” "forecast," "intend," "may," "possible," "potential," "predict," "project," "target" or other similar words, phrases or expressions. Although the company believes these forward-looking statements are reasonable, they are based upon a number of assumptions concerning future conditions, any or all of which may ultimately prove to be inaccurate. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements and vary from the company's expectations because of factors such as, but not limited to, competitive and general economic conditions domestically and internationally; acts of terrorism, war, governmental action, natural disasters, pandemics and other Force Majeure events; cyberattacks; changes in the legal and regulatory environment; changes in raw material, commodity and other input costs; currency fluctuations; changes in customer demand; and the other risks and contingencies detailed in the company's most recent Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission. Steelcase undertakes no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events or otherwise.#21Segment Revenue, Adjusted OI Margin and Select Statistics Americas Revenue (US$ Millions) $2,436 $2,434 $1,995 End of Fiscal Year 2023 Americas Number of Steelcase dealer locations ~ 380 FY22 FY23 TFQ Adjusted Operating Income Margin* (Percent of Revenue) 1.6% 4.7% 7.0% FY22 FY23 TFQ Employees - non-manufacturing Employees - manufacturing ~ 2,800 2 ~ 4,800 Number of primary manufacturing locations Michigan - 2 Alabama - 1 Mexico - 2 Texas - 1 Minnesota 1#22U.S. Industry Macro-Factors Corporate Profits After-Tax (U.S.) With IVA and CCA Adjustments (Year-over-Year % Change) Unemployment (U.S.) Unemployment Rate (%) The Conference Board Measure of CEO Confidence (U.S.) 60% 50% 40% 30% 20% 10% 0% -10% -20% Q3 2018 Non-Residential Fixed Investment (U.S.) Equipment (In US$, Billions) 1,400 1,200 1,000 800 600 400 200 0 Q3 2018 16% 14% 12% 10% 8% 6% 4% 2% 0% Q3 2023 Nov 2018 Architectural Billing Index (U.S.) Nov 2023 90 80 70 60 50 40 30 20 10 0 Nov 2018 Real Estate Absorption (U.S.) (per million sq ft) 65 60 55 50 45 。 ŏ N w 40 35 -10 30 -20 25 20 -30 Q3 2023 Oct 2018 Oct 2023 Q3 2018 Sources: BEA, BLS, CEO Conference Board, AIA, CBRE. Nov 2023 יווי Q3 2023#23Segment Revenue, Adjusted OI Margin and Select Statistics International Revenue (US$ Millions) $778 $797 $752 FY22 FY23 End of Fiscal Year 2023 Number of Steelcase dealer locations Employees – non-manufacturing TFQ Employees – manufacturing Adjusted Operating Income (Loss) Margin* (Percent of Revenue) 0.4% -0.9% -1.1% FY22 FY23 TFQ Number of primary manufacturing locations International - 390 ~ 2,000 ~ 2,300 France - 1 China - 1 Germany - 1 Spain - 1 Malaysia - 1 Czech Republic - 1 India - 1 U.K. - 1#24International Industry Macro-Factors Germany Real GDP Growth 20% 20% 15% 15% 10% 10% 5% 0% -5% -10% -15% Q3 2018 5% 0% -5% -10% -15% France Real GDP Growth UK Real GDP Growth 20% 15% 10% 5% I... 0% I.... -5% -10% -15% -20% -20% Q3 2023 Q3 2018 Q3 2023 Q3 2018 Q3 2023 China Real GDP Growth 20% 15% 10% 5% 0% -5% -10% Q3 2018 Q3 2023 Source: Federal Reserve Bank of St. Louis, National Bureau of Statistics of China, ONS. India Real GDP Growth 25% 20% 15% 10% 5% 0% ....... -5% -10% -15% -20% -25% Q3 2018 Q3 2023#25Historical Shares Outstanding Shares (Millions) 180 160 140 120 100 80 80 60 40 40 20 20 0 14.1 139.2 Class B 18% 93.6 20.4 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 ■Class A Shares Class B Shares Q1 Q2 Q3 FY24 FY24 FY24#26Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures. A "non- GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the condensed consolidated statements of operations, balance sheets or statements of cash flows of the company. The non-GAAP financial measures used within this presentation are: (1) adjusted operating income (loss) margin, which represents operating income (loss), excluding amortization of purchased intangible assets and restructuring costs, each as a percentage of revenue, (2) adjusted EBITDA, which represents earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted to exclude share-based compensation, restructuring costs and goodwill and intangible asset impairment charges, (3) net debt, which represents total debt less cash and cash equivalents and COLI and (4) net debt to adjusted EBITDA ratio, which represents net debt divided by adjusted EBITDA. Pursuant to the requirements of Regulation G, the company has provided a reconciliation of each of the non-GAAP financial measures to the most directly comparable GAAP financial measure. These measures are supplemental to, and should be used in conjunction with, the most comparable GAAP measures. Management uses these non-GAAP financial measures to monitor and evaluate financial results and trends.#27Non-GAAP Financial Measures Adjusted Operating Income ($ millions) FY20 FY21 FY22 FY23 TFQ 257.0 43.0 20.1 65.5 120.8 Operating Income Amortization of purchased 12.4 16.3 14.8 22.8 18.9 intangible assets Goodwill impairment charge 17.6 Restructuring costs 28.6 19.2 22 Adjusted Operating Income 269.4 105.5 34.9 107.5 161.7 Revenue 3,723.7 2,596.2 2,772.7 3,232.6 3,186.1 Adjusted Operating Income Margin 7.2% 4.1% 1.3% 3.3% 5.1%#28Non-GAAP Financial Measures Americas Adjusted Operating Income Margin (Percent of Revenue) FY22 FY23 TFQ International Adjusted Operating Income (Loss) Margin (Percent of Revenue) FY22 FY23 TFQ Operating Income Margin 1.1% 3.2% 6.2% Operating Income (Loss) Margin (0.1)% (1.5)% (3.9)% Amortization of purchased intangible assets 0.5% 0.7% 0.6% Amortization of purchased intangible assets 0.5% 0.6% 0.6% Restructuring costs 0.8% 0.2% Restructuring costs 2.2% Adjusted Operating Income Margin 1.6% 4.7% 7% Adjusted Operating Income (Loss) Margin 0.4% (0.9)% (1.1)%#29Non-GAAP Financial Measures Adjusted EBITDA, Net Debt and Net Debt / Adjusted EBITDA ($ millions) FY19 FY20 FY21 FY22 FY23 TFQ Net Income $126 $200 $26 $4 $36 $75 Income Tax (Benefit) $38 $45 $(0) $(2) $16 $29 Interest Expense $38 $27 $27 $26 $28 $27 Depreciation and amortization $82 $86 $86 $83 $90 $86 Share-based compensation $17 $16 $20 $15 $21 $25 Restructuring costs $28 $19 $22 Goodwill and intangible asset impairment charges - $18 Adjusted EBITDA $301 $374 $205 $126 $210 $264 Total Debt $487 $484 $484 $483 $481 $446* Cash and COLI $417 $701 $659 $369 $248 $425* Net Debt $70 $(217) $(175) $114 $233 $21* Net Debt / Adjusted EBITDA 0.2x -0.5x -0.8x 0.9x 1.1x 0.1x Revenue $3,443 $3,724 $2,596 $2,773 $3,233 $3,186 Adjusted EBITDA/Revenue % 8.7% 10.0% 7.9% 4.5% 6.5% 8.3% *as of Q3 FY24#30Steelcase