Steelcase Q4 2021 Financial Results

Appendix Non-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 statement of income, balance sheet or statement of cash flows of the company. Pursuant to the requirements of Regulation G, the company has provided a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measure. The non-GAAP financial measures used within this presentation are: (1) adjusted operating income (loss), which represents operating income (loss), excluding restructuring costs and goodwill and intangible asset impairment charges, (2) adjusted operating income (loss) margin, which represents operating income (loss) margin, excluding restructuring costs and goodwill and intangible asset impairment charges, ADJUSTED OPERATING INCOME (3) adjusted Earnings Before Interest, Taxes and Depreciation and Amortization (EBITDA), which represents EBITDA, excluding restructuring and goodwill and intangible asset impairment charges, (4) adjusted Earnings Before Interest Taxes and Depreciation and Amortization (EBITDA) margin, which represents adjusted EBITDA as a percentage of revenue, (5) total debt to adjusted EBITDA ratio, which represents total debt divided by adjusted EBITDA and (6) adjusted return on invested capital (ROIC), which represents income before income tax expense, excluding interest expense, restructuring costs and goodwill and intangible asset impairment charges, less income tax expense at an assumed long-term effective tax rate, divided by average capital (defined as the average of total debt and shareholders' equity at the beginning and end of the applicable period). These measures are presented because management uses this information to monitor and evaluate financial results and trends. Therefore, management believes this information also useful for investors. $ Million FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Operating Income/(Loss) $203 $1 ($12) $52 $97 $59 $166 $137 $170 $196 $155 $184 $257 $43 as Restated* Restructuring Costs $38 $35 $31 $31 $35 $7 $41 $20 $5 $28 Goodwill and intangible $21 $65 $60 $13 $18 asset impairment charges Adjusted Operating Income $225 $107 $27 $83 $124 $151 $180 $178 $190 $201 $155 $184 $257 $89 * Operating income restated due to implementation of ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715). Please see Q1 FY19 10-Q for more information. 28

View entire presentation