Company Update November 2021

Company Update

November 2021

LEG (NYSE)

www.leggett.com

Forward-Looking Statements

Statements in this presentation, either written or oral, that are not historical in nature are "forward-looking." These statements are identified either by their context or by use of words such as "anticipate," "believe," "estimate or E," "expect," "forecasted," "intend," "may," "plan," "should," "guidance" or the like and include percentage of segments sales, sales and growth, volume growth, EPS, EBIT, EBITDA, depreciation and amortization, net interest expense, tax rate, diluted shares, operating cash, free cash flow, capital expenditures, dividends and yield, debt repayments, net earnings, return on invested capital, raw material related price increases, currency benefit, fixed cost savings, EBIT margins, metal margins, stock repurchases, TSR, acquisition spending, and uses of cash. All such forward-looking statements are expressly qualified by the cautionary statements described in this provision. We do not have, and do not undertake, any duty to update any forward-looking statement. Forward-looking statements should not be relied upon as a prediction of actual future events or results. Any forward-looking statement reflects only the beliefs of Leggett at the time the statement is made. All forward- looking statements are subject to risks and uncertainties which might cause actual events or results to differ materially from the forward-looking statements. Some of these risks and uncertainties include: the demand for our products; our manufacturing facilities' ability to remain fully operational, obtain necessary raw materials and parts, maintain appropriate labor levels and ship finished products to customers; our ability to collect receivables in accordance with their terms; impairment of goodwill and long-lived assets; restructuring and related charges; access to the commercial paper market or borrowing under our credit facility; our ability to comply with restrictive financial covenants; changes in our capital needs; market conditions; disruption to our rod mill; our ability to manage working capital; antidumping duties; cybersecurity breaches; customer losses; price and product competition; cost and availability of raw materials and labor; fuel and energy; climate change regulations; ESG risks; foreign currency fluctuation; cash repatriation; privacy laws; litigation risks; and other risk factors in Leggett's most recent Form 10-K and subsequent Form 10-Qs.

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.

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Leggett Distinctives

Strong balance sheet and cash flow

Disciplined use of cash

~3.5% dividend yield; 50 consecutive annual increases

Leader in most markets; few large competitors

Opportunities for long-termgrowth

ƒ Internal initiatives + market growth + acquisitions

• Large addressable markets

Management has "skin in the game"

• Significant stock owners; forego comp in exchange for shares
• Incentive comp aligned with TSR focus

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Our Markets

Macro Market Exposure

Automotive		Product Mix
	(based on 2021 estimated net trade sales)
20%
		Automotive
		16%
	Consumer	Aerospace
Commercial/	Durables	2%
60%
Industrial	Hydraulic Cylinders
20%		2%
		Work Furniture
	Bedding	5%
	50%
Geographic Split	Home Furniture
(based on production)	8%
Mexico Others
Canada 5%	2%
6%		Flooring & Textiles

China	17%
10%
Europe
10%	U.S.
	67%

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% of 2021e net trade sales

Segments

Specialized

20%

Bedding

50%

Furniture,

Flooring & Textile

30%

				&
Bedding Products	Specialized Products	Furniture, Flooring
Textile Products

Bedding

• Mattress springs
• Private-labelfinished mattresses, mattress toppers, pillows
• Specialty bedding foams
• Foundations

Wire

• Drawn steel wire
• Steel rod

Adjustable Bed

• Adjustable beds

Machinery

• Quilting & sewing machinery for bedding mfg.
• Mattress packaging and glue-drying equipment

Automotive

• Auto seat support & lumbar systems
• Motors, actuators & cables

Aerospace

• Tubing
• Tube assemblies
• Flexible joints

Hydraulic Cylinders

• Hydraulic cylinders primarily for material handling, transportation & construction equipment

Home Furniture

• Recliner mechanisms
• Seating and sofa sleeper components

Work Furniture

• Chair controls, bases, frames
• Private-labelfinished seating

Flooring & Textiles

• Flooring underlayment
• Textile converting
• Geo components

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Long Term

Value Creation

Total Shareholder Return

SOURCES

Revenue	Margin	Dividend	Stock
Growth	Improvement	Yield	Buybacks
Target:	Target:	Payout target:	With available cash
6-9% annually	11.5-12.5%	~50% of earnings

Total Shareholder Return = (∆ Stock Price + Dividends) / Initial Price

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Growth Framework
	1				2		3
6-9%	Increasing	Expanding	Identifying
Average Annual	Content	Addressable	Strategic
and New		Markets	Acquisitions
Revenue Growth
Programs
Organic + Acquisition
							9
U.S. Bedding Market Overview
Finished Mattresses &			$8B		$1B		$1B
Foundations at Wholesale	APPROXIMATE
Addressable Market	MARKET SIZE
~$10B	SEGMENT	MATTRESSES	ADJUSTABLE	STATIC
FOUNDATIONS	FOUNDATIONS
					COMPETITORS
		Innerspring maker-users and foam component suppliers
			Importers of innersprings, finished mattresses
					and adjustable foundations
			Private-label mattress manufacturers,
					primarily all foam
Source: ISPA; Furniture Today; internal analysis							10