Leggett & Platt Incorporated : Company Update March 2026

About this update from Leggett & Platt, Incorporated

Company Update March 2026 LEG (NYSE) https://www.leggett.com Leggett at a Glance A diversified manufacturer that designs and produces a broad variety of engineered components and products Strong competitive positions with broad customer base Few large competitors Large addressable markets Solid operating cash flow Long history of strong cash generation to support investment in our business and shareholder returns Prioritizing balance sheet health Investment grade credit rating Long-term leverage target of 2.0x Net Debt to Adjusted EBITDA Engaged management team Focused on improving long-term profitability Deep company knowledge and understanding of our diverse portfolio of businesses Commitment to sustainability through our people, our products, and our processes Restructuring plan substantially complete and operational efficiency improvements continue 2 At a Glance: Diverse Portfolio Product Mix (based on 2026 estimated net trade sales) Geographic Split (based on production) Bedding 39% Automotive 21% Hydraulic Cylinders 5% China 10% Canada 7% Mexico 5% Others 3% Work Furniture 7% Home Furniture 6% Europe 15% U.S. 60% Flooring & Textiles 22% 3 At a Glance: Segments Bedding Products Specialized Products Furniture, Flooring & Textile Products 39% of 2026e net trade sales 26% of 2026e net trade sales 35% of 2026e net trade sales Components Mattress springs Specialty bedding foams Semi-finished mattresses Drawn steel wire Steel rod Finished Products Private label compressed mattresses Mattress toppers and pillows Adjustable beds Foundations Automotive Seating Comfort Auto seat support and lumbar systems In-Car Motion Systems Motors, actuators, and cables Hydraulic Cylinders Engineered hydraulic cylinders primarily for material handling, transportation, and heavy construction equipment Home Furniture Recliner mechanisms Seating and sofa sleeper components Work Furniture Chair controls, bases, frames Private label finished seating Flooring Products Carpet cushion Hard surface underlayment Textile Products Textile converting Geo components 4 At a Glance: Macro Market Exposure Over time, sustained improvement in key economic factors will drive multi-year recovery for our residential businesses which have remained well below average cycle levels Key Economic Indicators Automotive 20% Commercial/ Industrial 30% Consumer Durables 50% Total housing turnover Combination of new and existing home sales Consumer confidence "Large ticket" purchases are deferrable Consumer discretionary spending Interest rates Employment levels 5 Tariff Considerations We expect tariffs to continue to be a net positive for Leggett Benefits Domestic steel tariffs have led to expanded metal margins Most products are region for region; our products are largely manufactured and sold within the same region Potential Opportunities ↑ Well positioned to serve customers desiring domestically produced products Cost Mitigation Strategies Sourcing product domestically or from alternative lowest total cost countries Shifting production to take advantage of our global footprint Passing along price increases where necessary Heightened sensitivity on inventory management Potential Risks ↓ Rise in inflation in the near term ↓ Decline in consumer confidence ↓ Decrease in consumer demand ↓ Disruptions to global supply chains 6 Strategic Priorities Balance Sheet Strength Long-Term Profitable Growth Margin Improvement Prioritizing long-held financial strength Disciplined capital allocation strategy Optimizing operations and G&A cost structure Executed restructuring plan Operational efficiency improvement initiatives Positioning for profitable growth opportunities in Bedding, Automotive, and Textiles Our actions will allow us to navigate the challenging near-term environment and position us for long-term success 7 Disciplined Capital Allocation Strategy A balanced approach focused on driving shareholder value STRATEGIC PRIORITIES: Balance Sheet Strength Upholding long-held balance sheet strength and continuing to invest in our businesses Near-Term Focus: ✓ Targeting long-term Net Debt to Adjusted EBITDA ratio of 2.0x For 2026, we plan to use most of our excess cash flow to reduce net debt, while also considering other uses such as small strategic acquisitions and share repurchases. ORGANIC GROWTH Long-Term Priorities Investing in our businesses for the future Robust innovation pipeline STRATEGIC ACQUISITIONS Primarily opportunities complementing our existing portfolio of businesses SHAREHOLDER RETURNS Dividends Opportunistic share repurchases 8 Restructuring Initiatives 2024 Accomplishments Bedding Products STRATEGIC PRIORITIES: Margin Improvement Reduced footprint by 14 locations (10 in U.S. Spring, 3 in Specialty Foam, 1 in Adjustable Bed) Consolidated all domestic innerspring production into 4 remaining locations Exited Mexican innerspring operation Downsized Chinese innerspring operation Sold 2 properties Furniture, Flooring & Textile Products Closed 1 facility in Home Furniture Closed 1 facility in Flooring Products and substantially completed Phase 1 of Flooring Products restructuring Specialized Products Initiated Hydraulic Cylinders restructuring Corporate Reduced G&A cost structure 2025 Accomplishments Bedding Products Divested a small U.S. machinery business Sold 4 properties Largely completed Specialty Foam restructuring Consolidated 1 Specialty Foam production facility Furniture, Flooring & Textile Products Completed Phase 1 and substantially completed Phase 2 of Flooring Products restructuring Consolidated 2 Flooring Products production facilities Sold 1 property Specialized Products Completed manufacturing efficiency improvement activities in Hydraulic Cylinders Right-sized our Hydraulic Cylinders plant in the UK 9 Restructuring Plan Financials STRATEGIC PRIORITIES: Margin Improvement Sales Attrition 2 2024 Actuals $15m Q4 2024 $8m Q4 2025 $13m 2025 Incremental 1 $38m 2025 Actuals $53m Full Plan Run Rate Estimates ~$60m EBIT Benefit $22m $12m $17m $41m $63m ~$70m 2024 Actuals Q4-25 2025 Actuals Total Plan Estimates Cash from Real Estate $20m $6m $28m $70-$80m Restructuring and Restructuring-Related Costs $48m $19m $30m ~$80m Cash Non-cash $30m $18m $1m $18m $9m $21m ~$40m ~$40m 1 Incremental represents the YOY change in sales attrition and EBIT benefit 2 2025 includes $12m from the divestiture of a small U.S. machinery business in our Bedding Products segment 10 2026 Guidance Issued 2/11/26 and not updated since Sales: $3.8-$4.0 billion; down 1% to 6% versus 2025 2025 divestitures to reduce sales by 3% Volume is expected to be flat to down low-single digits Volume at the midpoint: Down low-single digits in Bedding Products Segment Down low-single digits in Specialized Products Segment Flat in Furniture, Flooring & Textile Products Segment Raw material-related price increases and currency benefit combined is expected to increase sales low single digits Adjusted EPS: $1.00-$1.20 At the midpoint, increase versus 2025 due primarily to operational efficiency improvements, disciplined cost management, favorable sales mix, and full year benefit of metal margin expansion that started in Q2 2025, partially offset by lower volume Implied adjusted EBIT margin of 6.3%-7.0% Operating cash flow $225-$275 million 11 Bedding Products Strategy Grow content through semi-finished products and private label finished mattresses STRATEGIC PRIORITIES: Long-Term Profitable Growth Defend attractive market share and pursue profitable volume opportunities, where available Focus on strategic partnerships and market-leading innovation across product lines We are focused on driving content and value, supported by further integration of our specialty foam and innerspring technologies Open Coil ComfortCore ® Quantum ® Edge Semi-Finished Hybrid Mattress Increasing Value and Content ~8x AUSP increase from open coil innersprings to hybrid mattresses 12 Domestic Bedding Market Trends Demand declined 20% from 2021 to 2025, but domestic production declined 35% due to continued import market share growth US Mattress Consumption 1 (millions of units) Domestic Imports Growth in domestic foam mattress production has also reduced the addressable market for our legacy innerspring products Domestic Mattress Production 1 (millions of units) Domestic Hybrid/Innerspring Domestic Foam/Other 40 Peak 35 30 25 20 15 10 5 0 2014 2019 2021 2025 40 35 30 25 Peak 20 15 10 5 0 2014 2019 2021 2025 1 Management estimates, informed by company research, industry reports, and USITC import data. Import mattresses heavily skew towards foam, lower price points, and non-master bedrooms 13 Leggett Bedding Products Trends Consumer preference changes have led to declines in open coil and box springs, and our strategy has shifted to focus more on content gains through ComfortCore ® , including semi-finished products US Spring Product Mix 1 (Units) Grids Open Coil ComfortCore 100% 80% 60% The 2019 acquisition of Elite Comfort Solutions expanded our addressable market to include specialty foam and finished private label mattresses Specialty Foam Product Mix 2 (Sales) Foam Components Mattresses Accessories 100% 80% 60% 40% 20% 0% 40% 20% 0% 2014 2019 2025 2019 2025 Historically, the ECS customer base was heavily weighted towards digitally native mattress brands, which have experienced outsized declines in the recent demand downturn 1 Grids are the steel components sold to OEM customers for box spring production. 2 Accessories include pillows and mattress toppers 14 Bedding Products Value Chain Our innerspring and specialty foam value chains, industry-leading product innovation, and ability to supply components to private label finished mattresses are the foundation of our strategy and enable us to serve our customers with unmatched quality and exceptional, differentiated solutions We melt scrap steel to form steel rod, send rod to our wire mills to produce drawn wire, and then send wire to our innerspring manufacturing locations to be coiled using internally designed and manufactured wire-forming machines We develop polyols and chemical additives used to enhance the properties of foam, we pour and fabricate foam to use in mattresses and bedding accessories, and we produce finished private label mattresses, often incorporating innersprings in hybrid mattress designs 15 Bedding Products Innovation We're proud of our long history of driving product innovation in the mattress industry and we're still finding ways to solve customer problems with consumer comfort in mind CombiCore ® Saves mattress manufacturers production time and labor Eliminates non-value-added commodity base foam Sustainable solution for customers Incorporates Eco-Base ® and Quantum ® Edge technologies Endless combinations of specialty foam paired with ComfortCore ® innersprings offers customers differentiation options Consumers enjoy enhanced air flow and supportive motion isolation Super slow-release memory foam provides a differentiated foam option for OEM partners Plush, luxurious feel with a breathable, open-cell structure Provides heat and moisture dissipation with incredible durability 16 Automotive Strategy Innovate next generation seating comfort products utilizing product expertise STRATEGIC PRIORITIES: Long-Term Profitable Growth Strengthen OEM and Tier 1 relationships through increased customer intimacy and collaborative problem solving Grow our in-car motion systems including motor and actuator content in existing applications and explore additional automotive applications Reinvigorate North American OEM relationships Cultivate relationships with Chinese OEMs Adopting new sustainability goals that are in line with industry standards Priorities Strengthen pneumatic lumbar position Improve cost position through automation and vertical integration Evaluate potential footprint changes needed as industry evolves Enhance our position as a preferred supplier of mechanical lumbar Integrate immersive technologies into products 17 Automotive Market Trends Industry Outlook Leggett Outlook North America North America Asia (Greater China) Asia (Greater China) Asia (Japan & South Korea) Asia (Japan & South Korea) Europe Europe Program delays and potential cancellations resulting from slower ICE to EV transitions Consumer affordability issues Inflationary pressures due to tariff driven price increases Volume remains pressured USMCA & industry shift toward regional supply chains support share retention & offer additional opportunities NEV incentives reduced, causing some near-term headwinds Expect continued growth of exports to Europe and India Pursuing growth among Chinese OEMs, especially with newer EV-focused OEMs Revenue is expected to benefit from FX in 2026 Chinese OEMs continue to take market share from multinational OEMs, including Japanese and Korean automakers, leading to production declines and program delays Regional volume stable, while we gain ground via increased demand among targeted local customers Favorable content mix Revenue is expected to benefit from FX in 2026 Economic softness and consumer affordability issues Chinese OEMs continue to take share from multinational OEMs, leading to production declines and program delays Strategic, regional growth targets opportunities among Chinese OEMs localizing in EU, as well as new & incumbent business Favorable content mix Revenue is expected to benefit from FX in 2026 Leggett Sales (geography of end consumption) Europe Asia North America 18 Automotive Innovation Our products align with long-term consumer preferences trending towards greater comfort and convenience Seating products are designed to enhance consumer comfort, from entry level to luxury vehicles In-car motion systems including actuators and motors deliver differentiated consumer convenience and safety features Mid-Class Luxury Massage Power Liftgate Actuator Advanced/ Vibration Massage Smart Latch Actuator CP5 Mechanical Lumbar We excel in developing customized solutions for customer-specific applications BLDC Motors 19 Textiles Strategy Leverage purchasing volumes across Geo Components and Fabric Converting for a total cost advantage STRATEGIC PRIORITIES: Long-Term Profitable Growth Pursue opportunities to serve new and attractive markets utilizing core capabilities Capture growth opportunities via acquisitions that complement existing products and geographies Geo Components Priorities Target organic growth through geographic expansion and targeted portfolio expansion Strengthen competitive position in Canada Expand wallet share with retail accounts through product line expansion and omnichannel opportunities Fabric Converting Priorities Complete product development and testing required for medical applications Grow market share in specialty markets (i.e. filtration, building products, automotive, packaging) Capitalize on recovery in hospitality market Closely monitor acquisition pipeline 20 Textile Market Trends Long-Term Market Outlooks ~$2B Geo Components market size Civil Construction Retail Expect construction spending to outpace GDP due to strong renewable energy backlogs, continued investment in fossil fuel development, and pent-up housing demand Spending likely to track closely with GDP Fabric Converting ~$1B market size Furniture Bedding Draperies Filtration Building Products Packaging Automotive Mature market expected to track with GDP Addressable market erosion from foam and import mattresses has been a headwind Believe there is pent-up demand in hospitality refurbishment and new property construction Expected to outpace GDP Housing shortage likely to drive market growth at or slightly above GDP Expected to outpace GDP Believe greater than GDP growth is possible due to expanded product applications 21 Textiles - Geo Components Our extensive portfolio of geosynthetic and environmental solutions, combined with our large North American distribution footprint, creates a distinct value proposition for our customers Geo components are used in: DOT construction projects Renewable energy infrastructure Oil and gas applications Soil and water erosion control Stormwater pollution prevention Subsurface drainage systems Revegetation applications Retail/residential landscaping 22 Textiles - Fabric Converting Our vertically integrated dye and finishing mill enables us to serve our customers in a variety of residential, commercial, and industrial applications with competitive prices and outstanding product quality - Topical finishes are water-repellant, fire-retardant and more Dye & Finish Seat decking Cushion wraps Dustcovers Furniture Quilt backing Pillow-top inserts FR barriers Dustcovers Bedding Residential and hospitality Linings, interlinings, and light-blocking fabrics Draperies Seat-trim cover construction fabrics Foam-backing cloth for seat bottoms and backs Automotive - Nonwoven materials used in industrial air and liquid filtration industries Filtration - Custom-designed returnable, expendable, and unitized packaging Packaging Building insulation accessories Reinforcement fabrics for roofing systems Building Products 23 Why Invest In Leggett & Platt? We are executing a disciplined plan to drive long-term value for shareholders Strong competitive positions in our core markets . We are an innovator in our markets, dedicated to helping our customers succeed. Restructuring activities have reduced costs and resulted in an optimized manufacturing footprint. Solid balance sheet . We have significantly reduced debt and currently have three $500m long-term bonds with maturities ranging from November 2027 to 2051, each with attractive interest rates <5%. Significant cash flow generation . Future free cash flow will be used for net debt reduction, small strategic acquisitions, share repurchases, and dividends. Future margin expansion and profitable growth . We expect to achieve longterm margin expansion and profitable growth as consumer demand rebounds. Free cash flow is equal to cash flow from operations less capital expenditures. 24 Historic Financial Information Sales and Adj. EPS $5,500 $5,000 $4,500 $4,000 $3,500 Net Trade Sales (million $'s) +19% +1% -8% -7% -7% $3.00 $2.50 $2.00 $1.50 $1.00 +29% Adjusted EPS ($'s per share) -18% -39% -24% 0% $3,000 $0.50 $2,500 '21 '22 '23 '24 '25 $0.00 '21 '22 '23 '24 '25 Amounts are from continuing operations and exclude unusual items. See slides 30-33 for Non-GAAP reconciliation details. 26 Segment Adj. EBIT Margins 14% 12% 10% 8% 6% 4% 2% 0% '21 '22 '23 '24 '25 Bedding Specialized Furniture, Flooring & Textile Total Amounts are from continuing operations and exclude unusual items. See slides 30-33 for Non-GAAP reconciliation details. 27 Strong Cash Flow Generation Supports long-term investment in our business and shareholder returns $600 $500 $400 Cash from Operations (million $'s) $600 $500 $400 $300 153 Uses of Cash Flow (million $'s) 83 $300 $200 $100 218 229 239 114 136 27 $200 107 $0 100 82 57 $100 '21 '22 '23 '24 '25 '21 '22 '23 '24 '25 Cap-ex Dividends Acquisitions Share Repurchases Cash from Ops 28 Non-GAAP Reconciliations Non-GAAP Adjustments ($ millions, except EPS) 2021 2022 2023 2024 2025 Non-GAAP Adjustments ($'s) 1 Gain on sale of Aerospace Products Group Net gain from insurance proceeds Gain from real estate sale Restructuring, restructuring-related and impairment charges Pension Settlement charge Somnigroup unsolicited offer evaluation costs Goodwill Impairment CEO transition compensation costs Long-lived asset impairment Note impairment Stock write-off from 2008 divestiture Non-GAAP adjustments (pre-tax $'s) Income tax impact Special tax items EPS impact of non-GAAP adjustments ($.16) $- $2.39 $4.78 ($.64) Non-GAAP adjustments (after tax $'s) Diluted shares outstanding - -(28) - - - - - - - - (28) 7 - (21) 136.7 - - - - - - - - - - - - - - - 136.5 -(9) (11) - - - - -444 - - 424 (98) - 326 136.3 -(2) (31) 50 - -676 4 - - - 696 (46) 5 656 137.3 (91) (35) (29) 36 22 3 - - - - - (93) 1 2 (90) 139.7 1 Calculations impacted by rounding 30 Reconciliation of Adj EBIT, Adj EBIT Margin, Adj EBITDA, and Adj EBITDA Margin ($ millions, except EPS) 2021 2022 2023 2024 2025 Net trade sales $5,073 $5,147 $4,725 $4,384 $4,055 EBIT (continuing operations) $596 $485 ($90) ($430) $356 Non-GAAP adjustments, pre-tax 1 (28) - 424 696 (93) Adjusted EBIT (cont. operations) $568 $485 $334 $267 $263 Adjusted EBIT margin 11.2% 9.4% 7.1% 6.1% 6.5% Adjusted EBIT (cont. operations) $568 $485 $334 $267 $263 Depreciation & amortization 187 180 180 136 122 Adjusted EBITDA (cont. operations) 2 $755 $665 $513 $403 $385 Adjusted EBITDA margin 14.9% 12.9% 10.9% 9.2% 9.5% 1 See slide 30 for adjustment details 2 Calculations impacted by rounding 31 Reconciliation of Adj Earnings and Adj EPS ($ millions, except EPS) 2021 2022 2023 2024 2025 Earnings (continuing operations) $403 $310 ($137) ($511) $235 Non-GAAP adjustments, after tax 1 (21) - 326 656 (90) Adjusted Earnings (cont. operations) 2 $381 $310 $189 $144 $146 Diluted EPS (continuing operations) $2.94 $2.27 ($1.00) ($3.73) $1.69 EPS impact from non-GAAP adjs 1 (.16) - 2.39 4.78 (.64) Adjusted EPS (cont. operations) $2.78 $2.27 $1.39 $1.05 $1.05 1 See slide 30 for adjustment details 2 Calculations impacted by rounding 32 Reconciliation of Adj EBITDA by Segment ($ millions, except EPS) 2021 2022 2023 2024 2025 Bedding Products Segment EBITDA $428 $324 ($240) ($490) $154 Adjustments 1 (28) - 436 594 (30) Adjusted EBITDA 2 $400 $324 $196 $104 $123 Specialized Products Segment EBITDA $161 $140 $166 $107 $239 Adjustments 1 - - - 54 (85) Adjusted EBITDA $161 $140 $166 $161 $154 Furniture, Flooring & Textile Products Segment EBITDA $184 $188 $151 $80 $97 Adjustments 1 - - (12) 45 (3) Adjusted EBITDA $184 $188 $139 $125 $94 1 See slide 30 for adjustment details 2 Calculations impacted by rounding 33 Additional Information Cost Structure Costs are roughly 75% variable, 25% fixed Incremental/decremental volume 25ꟷ35% contribution margin Steel ~20% of RMs Chemicals ~10% of RMs Woven & nonwoven fabrics ~15% of RMs Metals (chrome bar, aluminum) ~2% of RMs Plastics & resins ~5% of RMs Wood ~3% of RMs Foam scrap, fibers ~2% of RMs Others, including sub-assemblies, hardware, components, finished products purchased for resale, etc. ~45% of RMs Cost of Goods Sold Composition (approximate): Other 20% Materials Labor 20% Materials 60% Labor Includes all burden and overhead Supplies ~3% of COGS Depreciation, utilities, maintenance - each ~2% of COGS Shipping/transportation ~7% of COGS Also includes rent, insurance, property tax, etc. Other 35 Commodity Impact Steel o Primarily scrap, rod, and flat-rolled o Impact from inflation/deflation Typically pass through; lag is ~90 days o Change in metal margin (mkt price for rod - mkt price for scrap) Our scrap cost and rod pricing moves with the market; large swings could cause Bedding Products segment earnings volatility Rod pricing is sensitive to tariff rates which influence pricing and can cause metal margin expansion or compression Chemicals o Primarily TDI, MDI, and polyols o Impact from inflation/deflation Typically pass through; lag is ~30 days 36 Diverse Global Customer Base Diverse Customer Base, Low Concentration - Top 10 Customers: 31% of Sales; Largest Customer: 7% of Sales In North America: In Europe and Asia: 37 2025 Sustainability Highlights Our People Foster a positive, engaging, and inclusive culture Enhance our safety culture Innovative Products Reduce environmental impacts of our products across their lifecycle Improve chemical management in our business The Environment Demonstrate our ongoing commitment to environmental responsibility Reduce greenhouse gas (GHG) emissions Innovative Products Improve performance of our fleet Maintain ethical and responsible sourcing practices Business Ethics & Governance Uphold high standards of ethical conduct Maintain a high-functioning and effective Board of Directors and Executive Leadership Team 38 Forward-Looking Statements and Non-GAAP Financial Measures Statements in this presentation that are not historical in nature are "forward-looking," such as product mix, segment net trade sales, net positive benefit from tariffs, tariff impacts, our ability to mitigate tariffs, organic growth, strategic acquisitions, shareholder returns, restructuring plan impacts, including EBIT benefit, amount and timing of cash and non-cash restructuring-related costs, cash from real estate sales, and sales attrition; sales, demand, consolidated and segment volume, adjusted EPS, operational efficiency improvements, disciplined cost management, favorable sales mix, full year benefit from metal margins, net debt to adjusted EBITDA leverage target, implied adjusted EBIT margin, currency benefit, raw material-related prices, use of cash to reduce net debt and other uses, automotive revenue benefit from FX, automotive outlook in North America, Asia and Europe, long-term textile market outlook, operating cash flow, long-term margin expansion and profitable growth. All forward-looking statements are qualified by the cautionary statements in this provision and reflect only the expectations of Leggett at the time the statement is made. Because forward-looking statements deal with the future, they are subject to risks, uncertainties and developments which might cause actual events or results to differ materially from those reflected in any forward-looking statement. We do not have, and do not undertake, any duty to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement was made. These risks and uncertainties include: risks related to our strategic review process and any potential strategic transaction, increased trade costs, including tariffs; ability and/or timing to shift production, ability to source domestically or from lowest total cost countries; ability to pass on price increases and manage inventory; possibility that restructuring estimates may change, ability to timely receive benefits and proceeds from real estate sales, and impact on employees, customers and vendors; our ability to accurately forecast sales and earnings; adverse impact caused by: inflation and deflation; macroeconomic impacts; product demand; growth rates and opportunities in industries in which we participate; our ability to obtain raw materials, parts, and labor and ship finished products; impairment of goodwill and long-lived assets; volatility of Chinese EV manufacturers' growth; declines in multinational OEM's market share, resulting in reduction of demand for our Automotive products; access to the commercial paper market and debt market access; increased borrowing costs due to credit rating changes; our ability to reduce or maintain current debt levels; credit facility access and covenant compliance; supply chain shortages and disruptions; ability to manage working capital and collect receivables; market conditions; consumer confidence, housing turnover, employment levels, interest rates, and trends in capital spending; price and product competition; our market share in goods and services we sell or provide; cost of raw materials, parts, labor, and energy; cash generation sufficient to pay debts or the dividend; cash repatriation from foreign accounts; enforcement of antidumping and countervailing duties; disruption of the semiconductor industry and our operations due to conflict between countries, and evolving export controls; ability to maintain profit margins if customers change the quantity or mix of our products; political risks; legal and regulatory changes (including trade laws); realization of deferred tax assets and challenges to tax positions; foreign operating risks; cybersecurity incidents; unauthorized use of artificial intelligence; the functioning of our internal business processes and information systems through technology failures; customer losses and insolvencies; disruption to our steel rod mill, wire mills and other operations; development of commercially viable and innovative products; severe weather events, disaster, fire, explosion, terrorism, pandemic, or governmental action; foreign currency fluctuation; data privacy; litigation risks; climate change and sustainability-related risks and costs; pension settlement charges; and risk factors in Leggett's Form 10-K, Form 10-Q, and Form 8-K. Market and Industry Data Unless we indicate otherwise, we base the information concerning our markets/industry contained herein on our general knowledge of and expectations concerning those markets/industry, on data from various industry analyses, on our internal research, and on adjustments and assumptions that we believe to be reasonable. However, we have not independently verified data from market/industry analyses and cannot guarantee their accuracy or completeness. Non-GAAP Financial Measures While we report financial results in accordance with accounting principles generally accepted in the U.S. ("GAAP"), this presentation includes non-GAAP measures. These include net debt to adjusted EBITDA, adjusted EPS, EBIT, adjusted EBIT, adjusted EBIT margin, implied adjusted EBIT margin, adjusted EBITDA, adjusted EBITDA margin, and adjusted earnings. We believe these non-GAAP measures are useful to investors in that they assist investors' understanding of underlying operational profitability. Management uses these non-GAAP measures as supplemental information to assess the company's operational performance. In addition, with respect to the net debt to adjusted EBITDA ratio, management and investors use this ratio as supplemental information to assess ability to pay off debt. This ratio is calculated differently than the Company's credit facility covenant ratio. The above non-GAAP measures may not be comparable to similarly titled measures used by other companies and should not be considered a substitute for, or more meaningful than, their GAAP counterparts. 39 Contact Us for Additional Information Ticker: Website: Email: Phone: LEG (NYSE) www.leggett.com [email protected] (417) 358-8131 Ryan Kleiboeker Executive Vice President Webcast replay and Company Fact Book are available at https://www.leggett.com

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