Leggett & Platt : Company Update February 2021

Company Update

February 2021

LEG (NYSE)www.leggett.com

Forward-Looking Statements

Statements in this presentation 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," "expect," "forecasted," "intend," "may," "plan," "should," "guidance" or the like and include guidance related to Company sales, EPS, depreciation and amortization, net interest expense, tax rate, diluted shares, operating cash, capital expenditures, dividends, debt repayments, net earnings, return on invested capital, segment EBIT margins, 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 adverse impact caused by the COVID-19 pandemic upon (i) the demand for our products, (ii) our manufacturing facilities' ability to remain open and fully operational, obtain necessary raw materials and parts, maintain appropriate labor levels and ship finished products to customers, (iii) operating costs related to pay and benefits for our terminated employees, (iv) our ability to collect receivables in accordance with their terms due to customer bankruptcy, financial difficulties or insolvency, (v) impairment of goodwill and long-lived assets, (vi) restructuring-related charges and (vii) our ability to access the commercial paper market or borrow under our credit facility, including our inability to comply with the restrictive covenants in our credit facility; our ability to maintain reduced fixed costs; changes in our capital needs, market conditions, disruption to our rod mill, our ability to manage working capital, antidumping duties, cybersecurity breaches, or customer losses; price and product competition; cost and availability of raw materials and labor, fuel and energy costs, climate change regulations, environmental, social and governance risks, foreign currency fluctuation, cash repatriation, litigation risks and other risk factors in Leggett's most recent Form 10-K and subsequent Form 8-Ks and 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

~4% dividend yield; 49 consecutive annual increases

Leader in most markets; few large competitors

Opportunities for long-term growth

•  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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% of 2021e net trade sales

Specialized 22%

Bedding 48%

Segments

Furniture, Flooring & Textile 30%

Bedding Products

Bedding

•  Mattress springs

•  Private-label finished 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

Specialized Products

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 equipmentHome Furniture

•  Recliner mechanisms

•  Seating and sofa sleeper components

Work Furniture

•  Chair controls, bases, frames

•  Private-label finished seating

Flooring & Textiles

•  Flooring underlayment

•  Textile converting

•  Geo components