Investors: Francesca DeMartino, SVP, Head of Investor Relations - 201-847-5743

Media: Troy Kirkpatrick, VP, Public Relations - 858-617-2361

•Revenue of $5.0 billion declined 6.0% as reported and 5.9% on currency-neutral basis, due to a decline in worldwide COVID-only testing revenues to $185 million from $866 million in the prior year

•Revenue driven by growth of 8.1% as reported, 8.3% currency-neutral, in base revenues

•GAAP diluted EPS of $2.28; adjusted diluted EPS of $3.64

•Company raises full year revenue and EPS guidance

FRANKLIN LAKES, NJ (Feb. 3, 2022) - BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced results for its first quarter of fiscal year 2022, which ended December 31, 2021.

•New BD innovation in flow cytometry: Profiled in cover story of January issue of Science magazine, demonstrating landmark advancement in flow cytometry technology with potential to transform a wide range of disciplines from immunology and genomics research to cell-based therapeutics.

•BD Kiestra™ IdentifA: Received 510(k) clearance from the U.S. FDA. Designed to automate the preparation of microbiology bacterial identification testing using smart connected robotics.

•BD COR™ MX: Received CE Mark for infectious disease testing and is final module introduced on the BD COR™ System, expanding fully-automated high-throughput molecular diagnostic platform for core labs.

•BD Veritor™ At-Home COVID-19 Test: New distribution and retail partners announced.

•Completed the acquisitions of Scanwell Health Inc., to expand and scale digital at-home testing, Venclose Inc., marking BD's entry point to the treatment of chronic venous insufficiency, and Tissuemed, Ltd., adding an innovative, broadly applicable surgical sealant to BD's suite of biosurgery products, and Cytognos, to expand from cancer discovery and diagnosis into post-treatment monitoring.

•Released its inaugural Global Inclusion, Diversity and Equity (ID&E) report, highlighting the progress BD is making toward its ESG strategy.

•Published its 2021 Cybersecurity Annual report, the only MedTech company to do so.

•Named One of America's Most Just Companies in the annual JUST 100 Ranking.

•Included in the 2022 Bloomberg Gender-Equality Index (GEI) and also named a Best Place to Work for LGBTQ+ Equality by The Human Rights Campaign (HRC) Foundation after receiving a perfect score (100%) on the organization’s Corporate Equality Index (CEI).

1Represents a non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in the attached financial tables. Base revenues denotes total revenues less estimated revenues for COVID-19 only diagnostic testing.

1Represents a non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in the attached financial tables.

1Represents a non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in the attached financial tables.

The BD Medical segment includes the Medication Delivery Solutions (MDS), Medication Management Solutions (MMS), Pharmaceutical Systems (PS), and Diabetes Care (DC) business units. BD Medical revenue growth was driven by strong performance in MDS and PS.

•MDS performance reflects strong growth in the U.S., particularly catheters and vascular care products.

•MMS performance reflects the anticipated decline in the infusion business due to high demand for infusion pumps in the prior year in the U.S. and Europe that was partially offset by strong demand in the dispensing platform.

•PS performance reflects continued strong demand for pre-fillable devices enabled by capacity expansion.

•DC performance reflects category leadership aided by the timing of certain customer orders in the U.S.

The BD Life Sciences segment includes the Integrated Diagnostic Solutions (IDS) and Biosciences (BDB) business units. BD Life Sciences performance reflects the decline in COVID-only testing revenues, partially offset by growth in the base business of 16.7% as reported and 17.2% on a currency-neutral basis.

•IDS performance reflects a decline in COVID-only testing revenues to $185 million from $866 million in the prior year, partially offset by growth in the base business of 19.8% as reported, and 20.3% on a currency-neutral basis. Base business growth was driven by continued recovery in demand for specimen management products and microbiology solutions, licensing revenues, and demand for combination flu/COVID-19 diagnostic tests.

•BDB performance reflects continued strong demand for research solutions driven by the recovery in lab activity and continued COVID-19 research.

The BD Interventional segment includes the Surgery, Peripheral Intervention (PI), and Urology & Critical Care (UCC) business units. BD Interventional revenue growth reflects strong performance in Surgery and UCC.

•Surgery performance reflects growth across the hernia, biosurgery and infection prevention platforms as deferrable procedure volumes recovered compared to the prior year and was also aided by the recent acquisition of Tepha.

•PI performance reflects the impact of a fiscal 2021 product recall, supply chain disruptions and planned product line discontinuations to support portfolio simplification and margin enhancement, partially offset by continued strong performance in atherectomy, particularly in China, and the benefit from the recent acquisition of Venclose.

•UCC performance was driven by continued strong demand for acute urology products.

•The company now expects fiscal year 2022 revenues to be in the range of $19.55 billion to $19.75 billion, which reflects an increase of approximately $250 million compared to approximately $19.3 billion to $19.5 billion previously announced.

•Revenue guidance for fiscal year 2022 now assumes base business currency-neutral revenue growth of 5.75% to 6.75%, compared to 5% to 6% previously announced, which represents an increase of approximately $150 million.

•In addition, the revenue guidance range now assumes approximately $450 million in COVID-19-only diagnostic testing revenues, which is an increase of $250 million compared to approximately $200 million previously announced.

•Based on current rates, foreign exchange would represent a headwind of approximately 125 basis points to total company revenue growth compared to approximately 50 basis points previously announced, which represents an incremental headwind of approximately $150 million.

•The company now expects fiscal year 2022 adjusted diluted EPS to be $12.80 to $13.00, including an incremental headwind of approximately $0.10 from foreign currency, compared to $12.30 to $12.50 previously.

BD will host an audio webcast today for the public, investors, analysts, and news media to discuss its first quarter results. The audio webcast will be broadcast live on BD’s website, www.bd.com/investors at 8 a.m. (ET) Thursday, Feb. 3, 2022. Accompanying slides will be available on BD’s website, www.bd.com/investors at approximately 6 a.m. (ET). The conference call will be available for replay on BD’s website, www.bd.com/investors. Alternatively you can dial into the replay at 1-800-839-1246 (domestic) and 1-402-220-0464 (international) through the close of business on Thursday, Feb. 10, 2022. A confirmation number is not needed to access the replay.

Current and prior-year adjusted diluted earnings per share results exclude, among other things, the impact of purchase accounting adjustments, integration and restructuring costs, spin-off related charges, certain transaction gains and losses, certain legal defense and product remediation costs, certain regulatory costs, certain investment gains and losses, the impact of the extinguishment of debt and the dilutive impact of outstanding preferred stock.

This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD’s future prospects and performance, including, but not limited to, future revenues and earnings per share and capital deployment. All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties. Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement. With respect to forward-looking statements contained herein, a number of factors could cause actual results to vary materially. These factors include, but are not limited to, risks relating to any impact of the current disruptions in the global supply chain on our operations, including our ability to source raw materials and components needed to manufacture our products and inflationary pressures; the possible impact of the COVID-19 pandemic on our business and the global healthcare system (including decreases in the demand for our products, any disruptions to our operations (including the impact of employee absenteeism) and our supply chain, and factors such as vaccine utilization rates, the rate of infections, the emergence of new variants and competitive factors that could impact the demand and 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, changes in tax laws, new environmental laws and regulations, or changes in laws impacting international trade) or changes in enforcement practices with respect to such laws; labor shortages and increased labor costs; our suppliers’ ability to provide products needed for our operations and 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, including inflation, deflation and fluctuations in interest rates, particularly in emerging markets, including any impact on our ability to access credit markets and finance 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; risks relating to our overall indebtedness; interruptions in our manufacturing or sterilization 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 risks relating to our ability to obtain regulatory clearance and market acceptance of the BD Alaris™ System); our ability to achieve our projected level or mix of product sales; our ability to successfully integrate any businesses we acquire; uncertainties of litigation and/or investigations and/or subpoenas (as described in BD’s filings with the Securities and Exchange Commission); and the issuance of new or revised accounting standards, as well as other factors discussed in BD’s filings with the Securities and Exchange Commission. In addition, we have made certain assumptions in making these forward-looking statements, particularly regarding the COVID-19 pandemic. If any of these assumptions are incorrect, BD's actual results could differ materially from those described in these forward-looking statements. 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.

(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 amounts associated with integration and restructuring activities resulting from acquisitions, as well as simplification and other cost saving initiatives.

(3)Represents costs recorded to Other operating expense, net which were incurred for consulting, legal, tax and other advisory services associated with the planned spin-off of BD's Diabetes Care business.

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

(5)The current-period amount includes unrealized losses recorded within Other income, net relating to certain investments.

(6)Represents the dilutive impact of convertible preferred shares outstanding which were excluded from the reported diluted earnings per share calculation because these share equivalents would have been antidilutive. The adjusted diluted average shares outstanding (in thousands) at December 31, 2020 were 299,107.

(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 amounts associated with integration and restructuring activities resulting from acquisitions, as well as simplification and other cost saving initiatives.

(3)Represents costs recorded to Other operating expense, net which were incurred for consulting, legal, tax and other advisory services associated with the planned spin-off of BD's Diabetes Care business.

(4)Includes gains of $158 million on sale-leaseback transactions and charges of $361 million to record product liability reserves, including related legal defense costs, which were recorded to Other operating expense, net. The amount also includes charges of $56 million recorded to Cost of products sold related to the estimate of future product remediation costs.

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

(6)Includes unrealized gains recorded within Other (expense) income, net relating to certain investments.