2022 Fourth Quarter Earnings 3M

Strong execution of pricing actions offset headwinds from raw
materials/logistics inflation.

Organic sales growth of 1.2% YoY

• Safety & Industrial: Adjusted operating margin +2.7 ppts YoY; benefits from pricing and strong spending discipline more than offset increased
  raw materials/logistics costs, manufacturing productivity headwinds, and investments.
• Transportation & Electronics: Adjusted operating margins +60 bps YoY; benefits from pricing, strong spending discipline, and restructuring actions
  more than offset increased raw materials/logistics costs, manufacturing productivity headwinds, and investments
• Health Care: Operating margin -2.9 ppts YoY; decline driven by manufacturing productivity headwinds, increased raw materials/
  logistics costs, and investments partially offset by pricing and strong spending discipline; EBITDA margin of 28.5%.
• Consumer: Operating margin -3.3 ppts YoY; decline driven by lower sales volumes, increased raw materials/logistics and outsourced
  manufactured hardgoods costs, manufacturing productivity headwinds, and investments partially offset by pricing and
  strong spending discipline.