•Fiscal fourth quarter revenues of $4.784 billion grew 4.4% on a reported and currency-neutral basis.

•BD’s COVID-19 testing sales totaled more than $440 million in the fourth fiscal quarter.

•Fiscal fourth quarter GAAP EPS were $0.36. Non-GAAP EPS were $2.79.

Franklin Lakes, NJ (November 5, 2020) - BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $4.784 billion for the fourth fiscal quarter ended September 30, 2020. This represents an increase of 4.4% over the prior-year period on both a reported and currency-neutral basis.

In the BD Medical segment, worldwide revenues for the fiscal fourth quarter of $2.318 billion decreased 4.9% from the prior-year period on both a reported and currency-neutral basis. The segment's results reflect the BD AlarisTM System remediation in the Medication Management Solutions unit and the impact of COVID-19 across the segment. The impact of COVID-19 is primarily reflected in the Medication Delivery Solutions, Diabetes Care and Medication Management Solutions units. These were partially offset by continued strong performance in the Pharmaceutical Systems unit. Within the Medication Delivery Solutions unit, the recovery in hospital admission rates and non-acute procedure volumes improved sequentially from the fiscal third quarter but remained below pre-COVID levels in the fiscal fourth quarter.

In the BD Life Sciences segment, worldwide revenues for the quarter of $1.488 billion increased 31.2% over the prior-year period as reported, or 31.4% on a currency-neutral basis. The segment's results were driven by strong sales related to COVID-19 diagnostic testing solutions in the Diagnostic Systems unit on the BD VeritorTM and BD MaxTM platforms. Routine diagnostic testing and research-related activity improved sequentially from the fiscal third quarter, but remained below pre-COVID levels in the fiscal fourth quarter.

Fiscal fourth quarter U.S. revenues of $2.752 billion increased 7.4% over the prior-year period. Performance in the U.S. reflects strong sales related to COVID-19 testing solutions in the Diagnostic Systems unit on the BD VeritorTM and BD MaxTM platforms, partially offset by anticipated declines in the Medication Management Solutions unit due to the BD Alaris System remediation.

•During the fourth fiscal quarter and in recent weeks, the company received CE Mark for a number of new Life Sciences solutions, including:

◦A combination SARS-CoV-2, Influenza, RSV Test for the BD MAX™ molecular diagnostic system, in partnership with CerTest Biotec (October 21)

◦A product for assessing immune function in COVID-19 patients (October 16)

◦The SARS-Cov-2 assay for the BD Veritor™ Plus System (September 30)

•In addition, in the U.S., the company:

◦Received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the BD FACSLyric™ Flow Cytometer with the Integrated BD FACSDuet™ Sample Preparation System (October 5)

◦Submitted a pre-market approval supplement to the FDA for the use of the ThinPrep® Pap Test™ PreservCyt® Solution vial as an approved sample type for its BD Onclarity™ HPV Assay (September 23)

•To date, the company has received commitments for over 800 million injection devices in preparation for COVID vaccination campaigns, including commitments from countries such as the US, UK, and Canada and non-government organizations around the world.

As a purpose-driven company working to create positive societal impact, BD has a long-standing commitment to Advancing the World of Health by expanding access to quality healthcare and supporting healthy and resilient communities throughout the world. Recent and fiscal fourth quarter highlights include:

•Publishing its 2019 Climate Change Management report, demonstrating the company's support of the recommendations of the Task Force on Climate-related Financial Disclosures and ongoing commitment to transparency around its environmental, social and governance performance.

•Partnering with the BD Foundation to commit an additional $7.8 million in monetary grants and product donations over the next three years to support the continued expansion of the BD Helping Build Healthy Communities initiative, which issues grants to community health centers that are implementing innovative, successful approaches to providing quality healthcare to underserved populations in the United States.

•Donating $1 million to support the launch of the world’s largest non-governmental organization hospital ship, in recognition of BD’s 25-year partnership with Mercy Ships.

•Being named to Fortune’s Change the World list, marking BD’s fourth time on the list. This year, BD was recognized for the company’s rapid response helping to address the world’s critical healthcare needs related to the novel coronavirus pandemic.

A conference call regarding BD’s fourth quarter results will be broadcast live on BD’s website, www.bd.com/investors at 8:00 a.m. (ET) Thursday, November 5, 2020. The accompanying slides will be available on BD's website, www.bd.com/investors at 6:00 a.m. (ET). The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 1-800-585-8367 (domestic) and 1-404-537-3406 (international) through the close of business on Thursday, November 12, 2020, confirmation number 4475229.

pricing for our COVID-19 diagnostics testing); product efficacy or safety concerns resulting in product recalls or actions being taken with respect to our products; new or changing laws and regulations impacting our business (including the imposition of tariffs or changes in laws impacting international trade) or changes in enforcement practices with respect to such laws; fluctuations in costs and availability of raw materials and in BD’s ability to maintain favorable supplier arrangements and relationships; legislative or regulatory changes to the U.S. or foreign healthcare systems, potential cuts in governmental healthcare spending (including China’s volume-based procurement tender process), or governmental or private measures to contain healthcare costs, including changes in pricing and reimbursement policies, each of which could result in reduced demand for our products or downward pricing pressure; changes in interest or foreign currency exchange rates; adverse changes in regional, national or foreign economic conditions, particularly in emerging markets, including any impact on our ability to access credit markets and finance our operations, the demand for our products and services, or our suppliers’ ability to provide products needed for our operations; the adverse impact of cyber-attacks on our information systems or products; competitive factors including technological advances and new products introduced by competitors; interruptions in our supply chain or manufacturing processes; pricing and market pressures; difficulties inherent in product development, delays in product introductions and uncertainty of market acceptance of new products; adverse changes in geopolitical conditions; increases in energy costs and their effect on, among other things, the cost of producing BD’s products; the remediation of our infusion pump business (including the timely submission of our 510(k) submission related to Alaris); our ability to successfully integrate any businesses we acquire; uncertainties of litigation (as described in BD’s filings with the Securities and Exchange Commission); and issuance of new or revised accounting standards, as well as other factors discussed in BD’s filings with the Securities and Exchange Commission. We do not intend to update any forward-looking statements to reflect events or circumstances after the date hereof except as required by applicable laws or regulations.

(a)The presentation of prior-period amounts reflects the reclassification of $4 million associated with the movement, effective on October 1, 2019, of certain products from the Medication Delivery Solutions unit to the Medication Management Solutions unit.

(b)Effective October 1, 2019, the Preanalytical Systems and Diagnostic Systems units were joined to create the new Integrated Diagnostic Solutions unit.

(c)The presentation of prior-period amounts reflects the total reclassifications of $35 million associated with the movement, effective on October 1, 2019, of certain products from the Surgery unit and the Urology and Critical Care unit to the Peripheral Intervention unit.

(a)Effective October 1, 2019, the Preanalytical Systems and Diagnostic Systems units were joined to create the new Integrated Diagnostic Solutions unit.

(b)The presentation of prior-period amounts reflects the total reclassifications of $13 million associated with the movement, effective on October 1, 2019, of certain products from the Surgery unit and the Urology and Critical Care unit to the Peripheral Intervention unit.

(a)The presentation of prior-period amounts reflects the reclassification of $4 million associated with the movement, effective on October 1, 2019, of certain products from the Medication Delivery Solutions unit to the Medication Management Solutions unit.

(b)Effective October 1, 2019, the Preanalytical Systems and Diagnostic Systems units were joined to create the new Integrated Diagnostic Solutions unit.

(c)The presentation of prior-period amounts reflects the total reclassifications of $48 million associated with the movement, effective on October 1, 2019, of certain products from the Surgery unit and the Urology and Critical Care unit to the Peripheral Intervention unit.

(a)The presentation of prior-period amounts reflects the reclassification of $11 million associated with the movement, effective on October 1, 2019, of certain products from the Medication Delivery Solutions unit to the Medication Management Solutions unit.

(b)Effective October 1, 2019, the Preanalytical Systems and Diagnostic Systems units were joined to create the new Integrated Diagnostic Solutions unit.

(c)The presentation of prior-period amounts reflects the total reclassifications of $130 million associated with the movement, effective on October 1, 2019, of certain products from the Surgery unit and the Urology and Critical Care unit to the Peripheral Intervention unit.

(a)Effective October 1, 2019, the Preanalytical Systems and Diagnostic Systems units were joined to create the new Integrated Diagnostic Solutions unit.

(b)The presentation of prior-period amounts reflects the total reclassifications of $55 million associated with the movement, effective on October 1, 2019, of certain products from the Surgery unit and the Urology and Critical Care unit to the Peripheral Intervention unit.

(a)The presentation of prior-period amounts reflects the reclassification of $11 million associated with the movement, effective on October 1, 2019, of certain products from the Medication Delivery Solutions unit to the Medication Management Solutions unit.

(b)Effective October 1, 2019, the Preanalytical Systems and Diagnostic Systems units were joined to create the new Integrated Diagnostic Solutions unit.

(c)The presentation of prior-period amounts reflects the total reclassifications of $185 million associated with the movement, effective on October 1, 2019, of certain products from the Surgery unit and the Urology and Critical Care unit to the Peripheral Intervention unit.

(1)Includes amortization and other adjustments related to the purchase accounting for acquisitions impacting identified intangible assets and valuation of fixed assets and debt.

(2)Represents integration and restructuring costs associated with acquisitions.

(3)Primarily includes amounts recorded to Other operating expense, net to record product liability reserves, including related legal defense costs, of $378 million and $582 million in 2020 and 2019, respectively.

(4)Represents costs required to develop processes and systems to comply with emerging regulations such as the European Union Medical Device Regulation ("EUMDR") and General Data Protection Regulation ("GDPR").

(5)Includes charges recorded in Cost of products sold and Research and development expense to write down the carrying values of certain assets. The amount in 2019 represents an unrealized gain recorded within Other income, net relating to an investment.

(1)Includes amortization and other adjustments related to the purchase accounting for acquisitions impacting identified intangible assets and valuation of fixed assets and debt.

(2)Represents integration and restructuring costs associated with acquisitions.

(3)Includes amounts recorded to Other operating expense, net to record product liability reserves, including related legal defense costs, of $378 million and $914 million in 2020 and 2019, respectively. The amount in 2020 also includes a $244 million charge recorded to Cost of products sold related to the estimate of probable future product remediation costs. The amount in 2019 also includes the estimated cumulative costs of a product recall of $75 million recorded to Other operating expense, net, as well as the pre-tax gain of $336 million related to BD's sale of its Advanced Bioprocessing business which was recorded to Other operating expense, net.

(4)Represents costs required to develop processes and systems to comply with emerging regulations such as the EUMDR and GDPR.

(5)Includes charges recorded in Cost of products sold and Research and development expense to write down the carrying values of certain assets. The amount in 2019 also includes an unrealized gain recorded within Other income, net relating to an investment.

(1)Includes amortization and other adjustments related to the purchase accounting for acquisitions impacting identified intangible assets and valuation of fixed assets and debt.

(2)Represents restructuring and integration costs associated with acquisitions.

(3)Includes amounts recorded to Other operating (income) expense, net to record product liability reserves, including related legal defense costs, of $378 million. Also includes a $244 million charge recorded to Cost of products sold related to the estimate of probable future product remediation costs.

(4)Represents costs required to develop processes and systems to comply with emerging regulations such as the EUMDR and GDPR.

(5)Includes charges recorded in Cost of products sold and Research and development expense to write down the carrying values of certain assets.