2023 Q3 Earnings

Q3 2023 operating margin and EPS Adjusted Adjusted operating earnings margin per share Commentary Q3 2022 21.6% $2.60 Total organic growth/ +2.6% +$0.22 productivity/other Disposable respirator/Russia Exit -0.4% -$0.09 Decline in COVID-related disposable respirator demand and 2022 exit of operations in Russia Benefits from productivity actions, restructuring, strong spending discipline, and selling price Partially offset by lower sales volumes (particularly electronics, consumer retail, and China) and investments in growth, productivity, and sustainability Q3 2023 pre-tax charge of $68M Carryover impact of raw material, logistics, and energy cost inflation Food Safety divestiture; Aearo Technologies reconsolidation Primarily non-op pension Q3 2023 adjusted tax rate of 18.1% versus 15.9% in Q3 2022 Average diluted shares down 2.6% YoY Remaining organic growth/ +3.0% +$0.31 productivity/other Restructuring & related charges -0.8% -$0.10 Raw material -0.3% -$0.03 • FX 0.0% +$0.01 • U.S. dollar strength Acquisition/Divestiture* +0.1% $0.00 Other expense/income NA -$0.02 Adjusted tax rate** ΝΑ -$0.07 • Shares outstanding ΝΑ +$0.07 Q3 2023 23.2% $2.68 * Includes lost income from divested businesses and remaining stranded costs (net of transition arrangement income). ** The effect of income taxes on items that had specific tax rates are reflected within their respective impacts in the table above. 2023 Q3 Earnings | October 24, 2023. All rights reserved. 3M 6

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