Steelcase Q4 2021 Financial Results

Appendix Non-GAAP financial measures ADJUSTED RETURN ON INVESTED CAPITAL (ROIC) $ Million FY16 FY17 FY18 FY19 FY20 FY21 Income before income tax expense $175 $196 $162 $164 $245 $26 Interest Expense $18 $17 $18 $38 $27 $27 Restructuring costs $20 $5 $28 $18 Goodwill and intangible asset impairment charges Adjusted Income before income tax expense $213 $218 $180 $201 $273 $99 Assumed Long-Term Effective Income Tax Rate % 36.0% 36.0% 34.5%(1) 27.0% 27.0% 27.0% Adjusted Net Income $136 $140 $118 $147 $199 $72 Total Debt Total shareholders' equity Total Capital Prior Year Total Capital Average Capital Adjusted Return on Invested Capital (ROIC) (Adjusted Net Income as a % of Average Capital) (1) Assumes 10 months at 36% and 2 months at 27% as after U.S. Tax Reform $299 $297 $295 $487 $484 $484 $737 $767 $813 $850 $970 $962 $1,036 $1,064 $1,108 $1,337 $1,455 $1,446 $946 $1,036 $1,064 $1,108 $1,337 $1,455 $991 $1,050 $1,086 $1,223 $1,396 $1,451 13.8% 13.3% 10.9% 12.0% 14.3% 5.0% 32

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