HNI : Featured Presentation

HNI Corporation

Investor Presentation

Forward-Looking Statements

This presentation contains "forward-looking" statements based on current expectations regarding future plans, events, outlook, objectives, financial performance,
expectations for sales growth, and earnings per diluted share (GAAP and non-GAAP), including statements regarding the expected effects on the Corporation's
business, financial condition and results of operations from the COVID-19 pandemic. Forward-looking statements can be identified by words including "expect,"
"believe," "anticipate," "estimate," "may," "will," "would," "could," "confident", or other similar words, phrases, or expressions. Forward-looking statements involve
known and unknown risks and uncertainties, which may cause the Corporation's actual future results and performance to differ materially from expected results.
These risks include but are not limited to: the duration and scope of the COVID-19 pandemic, including any emerging variants of the virus, and its effect on people and
the economy; potential disruptions in the global supply chain; the effects of prolonged periods of inflation; potential labor shortages; the levels of office furniture
needs and housing starts; overall demand for the Corporation's products; general economic and market conditions in the United States and internationally; industry
and competitive conditions; the consolidation and concentration of the Corporation's customers; the Corporation's reliance on its network of independent dealers;
change in trade policy; changes in raw material, component, or commodity pricing; market acceptance and demand for the Corporation's new products; changing
legal, regulatory, environmental, and healthcare conditions; the risks associated with international operations; the potential impact of product defects; the various
restrictions on the Corporation's financing activities; an inability to protect the Corporation's intellectual property; impacts of tax legislation; and force majeure events
outside the Corporation's control, including those that may result from the effects of climate change. A description of these risks and additional risks can be found in
the Corporation's annual and quarterly reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q. The Corporation assumes no obligation to
update, amend, or clarify forward-looking statements, except as required by applicable law.	2

Investment Thesis

1 Organic Revenue Growth

2 Margin Expansion

3 Investment Opportunities

4 Financial Strength

5 Seasoned Management

6 Attractive Valuation

(~3% dividend yield)

Revenue to benefit from secular post-pandemic drivers and HNI-specific initiatives associated with our Strategic Framework.

Focus on margin expansion in Workplace Furnishings; maintain industry-leading profitability in Residential Building Products.

Unique investment opportunities to accelerate organic revenue growth and drive cost savings; M&A activity to augment organic growth efforts.

Cash flow profile and balance sheet strength will support growth investment, M&A, dividend growth, and share repurchase.

CEO Jeff Lorenger: 24 years with HNI, CFO Marshall Bridges: 21 years with HNI; 5 NEOs total over 90 years of pertinent industry experience.

Support from: diversified revenue streams, secular trends, cash flow and dividend consistency, and balance sheet strength.

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Company Overview

HNI Corporation is a manufacturer of commercial furnishings and residential building products. The company operates

under two segments. The workplace furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The residential building products segment is the nation's leading manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories.

HNI Corporation At-A-Glance:

Ticker: HNI (NYSE)

Market Cap: ~$1.6B (as of April 28, 2022)

Enterprise Value: ~$1.8B (as of April 28, 2022)

2021 Revenue: $2.2B

2021 Non-GAAP EBITDA: $182M

2021 Free Cash Flow: $65M

2021 Cash Dividends: $54MM

Headquarters: Muscatine, Iowa

Manufacturing Facilities: United States, Mexico, China, India

Sales Offices: U.S., China, and India

Segment 2021 Revenue Breakdown	Segment 2021 Non-GAAP EBITDA Breakdown*

Workplace Furnishings	Residential Building Products	Workplace Furnishings	Residential Building Products
Workplace Furnishings 2021 Revenue Mix	Residential Building Products 2021 Revenue Mix

North American Office

International Office

eCommerce

New Construction

Remodel & Retrofit

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*excludes General Corporate Expense

Profitable Growth Strategic Framework

While HNI's unique corporate-wide focus three pillars:

Member-Ownerculture remains our foundation, our and members' efforts are centered on the following

Customer 1st

Mindset

• The journeys customers take continue to rapidly evolve- presenting new opportunities.
• To broaden our influence on the entire customer journey, we are investing in digital assets, data analytics, branding, and e-commerce capabilities.
• Our customer-first mindset will allow us to identify and take advantage of new and developing market dynamics.

Effortless Winning

Experiences

• Customers continue to raise their expectations and demand more effortless experiences.
• Based on our work to more deeply understand the customer, we can and will make things easier through simplification and by incorporating technology and digital assets.
• We have the scale, price point and product breadth, and resources to lead this charge.

Own Operational

Excellence

• We have a longstanding legacy of embracing lean manufacturing principles.
• Through our Rapid Continuous Improvement (RCI) process, our member-owners scrutinize every facet of our business to find better, more efficient, and more environmentally friendly approaches.
• Our focus on RCI benefits stakeholders as we consistently

deliver productivity and cost savings that allow us to grow

earnings and invest in our5 future.