Herman Miller, Inc.Investor PresentationQ1 FY2013

NASDAQ: MLHR

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Forward Looking StatementsThis information contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates, and projections about the office furniture industry, the economy, and the company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements.

These statements do not guarantee future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict with regard to timing, extent, likelihood, and degree of occurrence. These risks include, without limitation, employment and general economic conditions, the pace of economic recovery in the U.S, and in our International markets, the increase in white-collar employment, the willingness of customers to undertake capital expenditures, the types of products purchased by customers, competitive-pricing pressures, the availability and pricing of raw materials, our reliance on a limited number of suppliers, currency fluctuations, the ability to increase prices to absorb the additional costs of raw materials, the financial strength of our dealers and the financial strength of our customers, the mix of our products purchased by customers, our ability to attract and retain key executives and other qualified employees, our ability to continue to make product innovations, the success of newly introduced products, our ability to serve all of our markets, possible acquisitions, divestitures or alliances, the pace and level of government procurement, the outcome of pending litigation or governmental audits or investigations, political risk in the markets we serve, and other risks identified in our filings with the Securities and Exchange Commission.

Therefore, actual results and outcomes may materially differ from what we express or forecast. Furthermore, Herman Miller, Inc., undertakes no obligation to update, amend or clarify forward-looking statements.

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A History of Bold Innovation

1923 1930s & 40s 1950s 1960s 1970s & 80s 1990s Today

Founded as a manufacturer of traditional residential furniture

Fostered lasting ties with well-known,

independent designers; a model

that continues to this day

Became a leader in modern

furniture design

Transformed the office furniture industry with

the introduction of Action Office – the

industry’s first open plan office system

Pioneered ergonomic

office seating

Broadened product offering,

expanded distribution, focused on

manufacturing efficiency and sustainability

A recognized industry leader in the areas of innovative

product design, sustainable business practices, and financial performance

At Herman Miller, we value our rich legacy more for what it shows us we might become than as a picture of what we’ve been.

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Herman Miller Around the World

Manufacturing Locations

Design Center Showrooms

Global Product Distribution:

North America: ≈ 250 Dealer Locations

Worldwide*: ≈ 740 Dealer Locations

* Including Posh franchise dealer locations

Dealer Logistics & Support Centers

• No single source for industry data outside North America

• BIFMA is the North American trade organization for our industry

• Leading economic indicators include:– Corporate profitability– Service sector employment levels– Non-residential construction activity– Office vacancy rates– Architectural billing activity (ABI)– Corporate sentiment (CEO & small business confidence, etc.)

• Herman Miller N.A. market share ≈ 13.5%

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The Contract Office Furniture Industry

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Steady Growth to Cyclicality

Source: BIFMA

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Variable Cost Structure

We have designed our cost structure to flex with the economic cycles we face as an industry.

• Manufacturing Costs

Direct labor – use temps and overtime which can be quickly flexed with volume

Direct materials – assembly based model (sub-assemblies outsourced)

Overhead – assembly based model (only 11-14% of sales)

Freight & Distribution – Utilize third-party outside freight haulers

• SG&A Costs

Incentive compensation – EVA based on continuous improvement

Sales costs – Variable commissions

Distribution costs – Variable cost independent dealers

Designer royalties – Variable cost independent designers

• Capital Base

Assembly based manufacturing model keeps asset costs low

Build to order keeps inventory costs low

Early prepay discounts keeps accounts receivable balances low

EVA incentive systems focuses on balance sheet and income statement

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Commitment to Innovation

Design & Research Expenditures

$0

$10

$20

$30

$40

$50

$60

2008 2009 2010 2011 20120.0%

0.3%

0.6%

0.9%

1.2%

1.5%

1.8%

2.1%

2.4%

2.7%

3.0%

3.3%

$ Millions % Net Sales

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We Have Diversified Our Revenue Base

U.S. Office / Gov't

Int'l

Health, Home &

Educ.

FY 2001

U.S. Office / Gov't

Int'l

Health, Home &

Educ.

23%

29%

48%

16%

9%

75%

FY 2012

Pension Funding Strategy

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The Situation:• We have 3 defined benefit style pension plans• Funding status has been highly volatile during the past 2

industry cycles.• Company contributions have averaged $23MM/year over the

past 10 years (to fund an $8MM/year employee benefit).

Our Strategy:• Fund U.S. plans to near 100% by end of FY2012.• De-risk plan investment profiles.• Convert U.S. employees to a DC-based retirement model.• Begin process of terminating our U.S. DB plans.

Expected Result:• Some P&L volatility during the termination process as

non-cash settlement expenses are recognized.• Improved cash flow and expense visibility going forward.• Better alignment of cash flow and expenses with business

cycles.

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Recent Operating Performance

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

$500

Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13

$446

$400$421

$450$440

$361

$444 $452

Millio

ns

Quarterly Net Sales & Orders

Net Sales Orders

$105

$106

$107

$108

$109

$110

$111

$112

$113

$114

$115

Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13

$111

$109

$115 $115

Millio

ns

Quarterly Operating Expenses

34.1%33.6%

35.7%33.3%

9.1%

6.3%8.4% 8.4%

0%

10%

20%

30%

40%

50%

Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13

% N

et

Sale

s

Gross Margin and Adj. Operating Income % *

Gross Margin % Adj. Operating Income %

Q1 net sales increased 6% from the prior year after adjusting for the extra week of operations in FY2012; orders up 1% on this same basis.

Orders in Q1 reflect continued softening from U.S. government and healthcare buyers; remaining core U.S. business was up 5% vs. prior year Q1.

Q1 gross margin was negatively impacted by adverse product/channel mix, foreign currency (weak Euro), and inefficiencies relating to factory consolidation projects at Nemschoff.

Expecting near-term improvement in gross margin as many of these factors are not expected to repeat in Q2.* Represents a Non-GAAP Measure, see Appendix for reconciliation.

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Debt & Liquidity Profile

$0

$5

$10

$15

$20

$25

$30

$35

$40

$45

Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13

$0

$44

$8

$29

Mil

lio

ns

Quarterly Cash Flow from Operations

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13

1.41.4 1.4 1.4

Rolling 4Qtr Leverage Ratio(Debt to EBITDA* - excluding restructure)

PPN & Bank Covenant < 3.50 (allows 4.0 for 4 Qtrs)

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13

9.6 10.110.5 10.5

Rolling 4Qtr Coverage Ratio(EBITDA* to Interest - excluding restructure)

Bank Covenant > 4.0

Q1 Ending Cash and Equivalents of $184 million.

Debt maturity schedule:

PPN ($50M) due 2015

PPN ($150M) due 2018

PPN ($50M) due 2021

CAPEX totaled $16 million in Q1 (includes China land purchase for planned factory consolidation). Total FY13 CAPEX estimated to range between $50 million and $60 million.

Increased dividend to $0.09 per share (from $0.02) to be reflected in the October payout.

* Represents a Non-GAAP Measure, see Appendix for reconciliation.

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Catalysts for Growth

Growth Avenues

Benchmark Performance

Seating

Breadth of New Products

Healthcare Furnishings

Global Expansion

New Channels to Market

New Customers

* The combination of Nemschoff and HermanMiller Healthcare creates the

industry’s most comprehensive healthcare furniture offering

* Acquisition of POSH significantly expands our Asian distribution

presence

* Future focus on India and Latin America

* Robust product development queue

* Dealer “Share of Wallet”

* Improve upon our industry leading position in high-performance task seating

* Herman Miller for the Home has a growing retail and wholesale

presence

* e-Commerce

* Initiatives to capture small to mid-sized business customers

* Targeted A&D focus through the Herman Miller Collection

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FY2015 Financial Targets

$1,724

$2,200

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

$2,200

$2,400

Fiscal 2012 Actual Fiscal 2015 Goal

Net Sales ($ millions)

CAGR GOALS BY SEGMENT:

N. America… 5%Non-N.A… 16%S&C… 12%

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FY2015 Financial Targets

8.3%

10.0%

3%

4%

5%

6%

7%

8%

9%

10%

11%

Fiscal 2012 Actual Fiscal 2015 Goal

Adj. Operating Margin (% sales) *

≥

* Represents a Non-GAAP Measure, see Appendix for reconciliation.

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We Intend to Increase our North American Dealer “Share of Wallet”

≈40%

Non-HMI Products

≈60%

HMI Products

On average, approximately 40% of the sales through our dealer channel in North America involve non-Herman Miller branded products.

Setu

Lower Price-Point Seating

SAYL

Performance Tables

Everywhere Tables

Ergonomic Solutions

Thrive Portfolio

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NEOCON 2012

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NEOCON 2012

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NEOCON 2012

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New York City “Pop-Up” Shop

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AppendixThis report contains references to Adjusted Operating Income/Margin and Earnings Before Interest, Taxes,

Depreciation, and Amortization (EBITDA) which are non-GAAP financial measures.

Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13Net Sales 445.6$ 399.8$ 420.7$ 449.7$

Operating EarningsOperating Earnings (GAAP) 40.7$ 25.3$ 29.8$ 34.3$ Operating Income (% net sales) 9.1% 6.3% 7.1% 7.6%Add: Restructuring Expense -$ -$ 5.4$ 0.5$ Add: Post-Tranisition Pension Amortization/Settlements -$ -$ -$ 3.1$ Adj. Operating Earnings (non-GAAP) 40.7$ 25.3$ 35.2$ 37.9$ Adj. Operating Income (% net sales) 9.1% 6.3% 8.4% 8.4%

Table IHerman Miller, Inc.

Reconciliation of Non-GAAP Measures($ millions; percents represent % of net sales)

(unaudited)

Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13Earnings Before Income Taxes (EBT) 125.6$ 120.7$ 119.5 112.7 Add: Depreciation 35.4 35.5 34.4 34.4 Amortization 2.9 2.8 2.9 2.9 Interest 19.1 18.2 17.5 17.3 Other Adjustments 1 0.4 5.8 9.7 13.7 Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) 183.4$ 183.0$ 184.0$ 181.0$

Total Debt, End of Trailing Period 259.9$ 259.9$ 259.8$ 257.7$

Rolling 4-Quarter Debt-to-EBITDA 1.4 1.4 1.4 1.4

Rolling 4-Quarter EBITDA-to-Interest 9.6 10.1 10.5 10.5

1 "Other Adjustments" include, as applicable in the period, non-cash stock based compensation expenses, charges associated w ith business restructuring initiatives, changes in the value of the contingent consideration components of the Nemschoff purchase price, pro-forma income statement adjustments associated w ith Nemschoff, as permitted under lender covenant arrangements, and non-cash charges and credits associated w ith the company's planned termination of its domestic defined benefit pension programs.

Reconciliation of Non-GAAP Measures

Trailing 4-Quarter Period Ended

(Calculation of EBITDA Ratios)($ in millions)(unaudited)

Table IIHerman Miller, Inc.