MillerKnoll Inc

Item 1A: Risk Factors

There haFor a discussion of our risk factors, see Part I, Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended June 1, 2024. With the exception of the risk factors noted below, which update the risk factors in our Annual Report on Form 10-K, there have been no material changes in the from the risk factors previously disclosed therein. The following risk factors and other information included in this report should be carefully considered. The risks and uncertainties described below are not the only ones we face; others, either unforeseen or currently deemed not material, may also have a negative impact on our Company's risk factors from those set . If any of the following occurs, our business, operating results, cash flows, and financial condition could be materially adversely affected.

We expect changes to U.S. trade policy, including new or increased tariffs and changing import/export regulations, to adversely affect our operating results, and the impacts could be material.

Changes in U.S. or international social, political, regulatory or economic conditions or in laws and policies governing forth in teign trade, and any potential negative sentiment toward the U.S. as a result of such changes, could materially and adversely affect our business. The Company's Annual ReporU.S. has instituted certain changes, and has proposed additional changes, in trade policies that include the negotiation or termination of trade agreements, the imposition of higher tariffs on imports into the U.S., and other government regulations affecting trade between the U.S. and other countries (such as Canada, Mexico, China, and the European Union) where we conduct our business. Global trade disruption, significant introductions of trade barriers and bilateral trade frictions, together with any future downturns in the global economy resulting therefrom, could further materially and adversely affect our financial performance.

As a result on Form 10-K for the year ended June 1, f policy changes and government proposals, there may be greater restrictions and economic disincentives on international trade. The new tariffs and other changes in U.S. trade policy have triggered retaliatory actions by affected countries, and foreign governments have instituted or are considering imposing trade sanctions on U.S. goods. Such changes have the potential to adversely impact the U.S. economy, our industry and the global demand for our products, and as a result, could have a negative impact on our business, financial condition and results of operations.

Changes in spending or budgetary policies of the U.S. Federal Government may materially adversely affect our business.

Sales to the U.S. federal government represented approximately 4% of total Company net sales in fiscal year 2024. On January 20, 2025, President Trump signed an executive order creating an advisory commission, the Department of Government Efficiency, to reform federal government processes and reduce expenditures. Pressures on and uncertainty surrounding the U.S. federal governments budget, and potential changes in budgetary priorities and spending levels, could adversely affect staffing levels and funding for government agencies that purchase our products.