Steelcase Inc. (NYSE:SCS) Q3 2022 Earnings Conference Call December 17, 2021 8:30 AM ET Company Participants Michael O'Meara - Investor Relations Sara Armbruster - President and Chief Executive Officer Dave Sylvester - Senior Vice President and Chief Financial Officer Conference Call Participants Reuben Garner - The Benchmark Company Greg Burns - Sidoti & Company Rudy Yang - Berenberg Steven Ramsey - Thompson Research Group Stuart Linde - Water Tower Research Operator Good morning. My name is Dexter, and I ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 27, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Act: For the transition period from to Commission File Number 1-13 ...

Financial Data and Key Metrics Changes - In Q2 2022, Steelcase reported revenue of $725 million and earnings per share of $0.21, which were below the estimated ranges provided earlier [30][31] - The company experienced a 14% organic decline in revenue compared to the prior year, primarily due to a higher backlog from the previous year [31] - Operating income increased by $66 million sequentially, driven by a $168 million increase in revenue [34] Business Line Data and Key Metrics Changes - Total orders grew 24% year-over-year and 12% sequentially, with strong growth across all segments [7][36] - The Americas saw a sequential order growth of 10%, while EMEA and other regions experienced 17% and 20% growth respectively [36] - The backlog at the end of Q2 was 22% higher than the prior year, indicating strong demand despite supply chain challenges [41] Market Data and Key Metrics Changes - The company noted that order levels in the Americas were approaching or exceeding pre-pandemic levels, with significant recovery in EMEA and APAC regions [7][8] - In Asia Pacific, order levels were within 5% of FY '20 levels, despite significant declines in India due to pandemic impacts [8] Company Strategy and Development Direction - Steelcase is focusing on adapting to hybrid work environments, emphasizing the need for flexible office spaces and products [13][21] - The company plans to introduce new products that provide flexibility, privacy, and control to meet evolving customer needs [23][24] - There is a commitment to continue investing in product development and exploring growth opportunities in vertical markets such as education and healthcare [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery, noting strong order rates and minimal cancellations despite ongoing supply chain challenges [12][49] - The company anticipates continued inflationary pressures but has implemented multiple price increases to mitigate impacts [49][47] - Future prospects for fiscal 2023 include improved demand from a broader reopening of offices and potential pricing benefits offsetting inflation [48] Other Important Information - The company announced a third price increase due to ongoing commodity inflation, particularly in steel [10] - Management highlighted a strong commitment to ESG initiatives, including reducing carbon emissions and enhancing diversity, equity, and inclusion (DEI) efforts [17][100] Q&A Session Summary Question: Insights on order trends and potential softening - Management noted that while there are mixed signals in leading indicators, strong order growth continues, and there is no immediate concern about a slowdown [51][54] Question: Impact of pricing increases on demand - There has been no evidence of delayed orders or dampened demand due to price increases, although management acknowledges the risk [56] Question: Improvement in the Indian market - Supply and demand conditions in India have improved, with factories ramping back up and a growing pipeline of orders [58][59] Question: Confidence in revenue guidance amid supply chain issues - Management expects ongoing supply chain challenges but has factored these into their revenue outlook for Q3 and Q4 [66] Question: Differences in supply chain issues between the U.S. and EMEA - The Americas face more discrete supplier issues, while EMEA has been less affected by the broader supply chain challenges [78]

| --- | --- | --- | |-----------------------------------|-------|-------| | | | | | Investor | | | | Presentation FY2022 First Quarter | | | | | | | | | | 1 | Steelcase Q1, 2022 Investment thesis We believe the office will continue to be very relevant for innovation, culture, and collaboration 2 Industry leader in a changing workplace environment that we believe provides growth opportunities Experienced management team has led the company through similar previous cycles Liquidity position is very strong Ste ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 28, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13873 ___________________________________________________________ ...

Steelcase Inc. (NYSE:SCS) Q1 2022 Earnings Conference Call June 24, 2021 8:30 AM ET Company Participants Michael O’Meara - Investor Relations Jim Keane - President and Chief Executive Officer Dave Sylvester - Senior Vice President and Chief Financial Officer Sara Armbruster - Executive Vice President Conference Call Participants Reuben Garner - Benchmark Group Budd Bugatch - Water Tower Research Rudy Yang - Berenberg Capital Kathryn Thompson - TRG Operator Good morning. My name is Patricia and I will be you ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 26, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-13873 ____________________________ STEELCASE INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction ...

Steelcase Inc. (NYSE:SCS) Q4 2021 Results Earnings Conference Call March 24, 2021 8:30 AM ET Company Participants Mike O'Meara - Director, Investor Relations Jim Keane - President & Chief Executive Officer Dave Sylvester - Senior Vice President & Chief Financial Officer Conference Call Participants Steven Ramsey - TRG Reuben Garner - Benchmark Operator Good morning. My name is Michelle and I will be your conference operator today. At this time, I would like to welcome everyone to the Steelcase’s Fourth Quar ...

| --- | --- | --- | |------------------------------------|-------|-------| | | | | | Investor | | | | Presentation FY2021 Fourth Quarter | | | | | | | | | | 1 | Steelcase Q4, 2021 Investment thesis ➢ We believe the office will continue to be very relevant for innovation, culture, and collaboration ➢ Industry leader in a changing workplace environment that we believe provides growth opportunities ➢ Experienced management team has led the company through similar previous cycles ➢ Liquidity position is very st ...

Steelcase Inc. (NYSE:SCS) Q3 2021 Earnings Conference Call December 18, 2020 8:30 AM ET Company Participants Mike O'Meara - Director, Investor Relations Jim Keane - President & Chief Executive Officer Dave Sylvester - Senior Vice President & Chief Financial Officer Conference Call Participants Steven Ramsey - Thompson Research Group Reuben Garner - Benchmark Greg Burns - Sidoti Operator Good morning. My name is Sharon and I will be your conference operator today. At this time, I would like to welcome everyo ...