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

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

•Revenue of $4.8 billion increased 1.5% as reported and 4.1% on a currency-neutral basis

•Revenue from base business (which excludes COVID-only diagnostic testing) grew 6.0% as reported, 8.7% currency-neutral

•GAAP and adjusted diluted EPS from continuing operations of $1.53 and $2.86, respectively

•Company raises full-year base revenue guidance, enabling additional investments in growth and innovation while absorbing lower COVID-only diagnostic testing revenue and incremental FX impacts

FRANKLIN LAKES, NJ (May 4, 2023) - BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced results for its second quarter of fiscal 2023, which ended March 31, 2023.

•In BD Life Sciences, the Biosciences business unit completed the first early access shipments to customers of the BD FACSDiscover™ S8 Cell Sorter, the worlds' first real-time imaging, spectral flow cytometer equipped with the breakthrough BD CellView™ Image Technology profiled last year on the cover of the journal Science.

•In BD Life Sciences, the Biosciences business unit introduced the BD Rhapsody™ HT Xpress System, a new high-throughput single-cell multiomics platform that enables scientists to isolate, barcode and analyze single cells at a high sample throughput to obtain more insights in less time. The new system, alongside BD cell sorters and the rest of the BD Rhapsody™ portfolio of reagents, assays and bioinformatics tools, enables BD to provide a true end-to-end portfolio of single-cell multiomics solutions for researchers.

•In BD Life Sciences, the Integrated Diagnostics Solutions business unit received FDA approval for the BD Onclarity™ HPV molecular diagnostics assay for use with both BD SurePath™ liquid-based pap test and Hologic ThinPrep® pap test. Approval expands access to the BD HPV test - the only FDA-approved assay that tests for an extended set of HPV types individually, and particularly for HPV31, a specific type of HPV that poses a high-risk for causing cervical cancer.

•In BD Life Sciences, the Integrated Diagnostics Solutions business unit received FDA 510(k) clearance for the BD Vaginal Panel for use on the BD COR™ System. This first-of-its-kind, high-throughput molecular diagnostic test for large laboratories directly detects the three most common infectious causes of vaginitis using only one swab and one test. Availability of the vaginal panel reflects BD's commitment to expand the menu of assays for women's health and other infectious diseases.

•In BD Life Sciences, the Integrated Diagnostics Solutions business unit filed for US regulatory clearance of BD MiniDraw™, a device which enables the collection of a high-quality capillary blood sample that is less invasive and more convenient than the traditional collection method.

•In BD Medical, the Medication Delivery Solutions business unit launched the BD Prevue™ II System, the latest example of how BD is advancing the vision of a "one-stick hospital stay" with new ultrasound technology that helps drive first-stick success for IV insertions.

•BD continued to further its progress toward achieving its 2030+ ESG goals, including its focus on reducing the environmental impact of its product portfolio. To support this effort, BD introduced new circular economy pilots in several regions, partnering with healthcare facilities and waste management companies to recycle used materials, including BD syringes in the US and BD vacutainers in Denmark.

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. Base Organic Revenue Growth further excludes the contribution from inorganic revenues from acquisitions, which is defined as revenues recognized during the first 12 months post-acquisition.

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. Base revenues denotes total revenues less estimated revenues for COVID-19-only diagnostic testing.

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

•MDS performance reflects our comprehensive Vascular Access Management strategy that continues to drive strong results, evidenced by BD Posiflush™ and our Catheter Solutions. Strength in our durable core products more than offset the comparison to prior-year COVID vaccine device demand and planned strategic portfolio exits.

•MMS performance reflects investments in high-growth end-markets, such as Pharmacy Automation, which are driving strong performance, led by our Parata and BD ROWA™ solutions. MMS performance also reflects double-digit growth in Dispensing driven by our continued focus on innovation to improve workflows and efficiencies, evidenced by performance of our BD Pyxis™ and BD HealthSight™ portfolio including the recent BD Pyxis™ ES 1.7 launch.

•PS performance reflects another strong quarter enabled by capacity investments in BD Hypak™ and innovation in products like BD Effivax™, BD Hylok™ and BD Neopak™, which are enhancing efficiencies for our Pharmaceutical customers while supporting increased demand in the high-growth biologics and vaccine categories.

The BD Life Sciences segment includes the Integrated Diagnostic Solutions (IDS) and Biosciences (BDB) business units. BD Life Sciences performance reflects growth in the segment's base business despite a negative impact of approximately 800 basis points from the comparison to prior-year respiratory testing revenues. The segment's performance also reflects a decline in COVID-only diagnostic testing revenues.

•IDS performance reflects the decline in COVID-only diagnostic testing revenues as well as the impact in the base business from the comparison to higher prior-year combination flu/COVID respiratory testing revenues and due to a softer respiratory illness season in the current quarter. Partially offsetting the decline in combination testing was growth in Microbiology, aided by adoption of our BD Kiestra™ IdentifA and Total Modular Track solutions, and Specimen Management, and continued double-digit growth from Molecular IVD assays leveraging the incremental BD Max™ installed base.

•BDB performance reflects continued double-digit growth in Research Reagents enabled by our innovative and differentiated BD Horizon™ dyes. Strong performance in Instruments was driven by continued demand for the recently launched BD FACSymphony™ A1/A5 SE research analyzers combined with improved BD FACSLyric™ product availability for our clinical customers.

The BD Interventional segment includes the Surgery, Peripheral Intervention (PI), and Urology & Critical Care (UCC) business units. BD Interventional performance was driven by strong performance across the segment.

•Surgery performance reflects double-digit worldwide growth in Advanced Repair and Reconstruction, driven by continued market adoption of the Phasix™ hernia resorbable scaffold and double-digit worldwide growth in Biosurgery, aided by Arista™ AH absorbable hemostat. Strong procedure volumes also contributed to Surgery performance.

•PI performance reflects double-digit growth in Peripheral Vascular Disease driven by the Venovo™ relaunch, coupled with global penetration of Rotarex™. PI performance also reflects strong growth in Oncology in the US and Greater Asia that was aided by an improved backlog associated with prior-year supplier constraints.

•UCC performance reflects double-digit growth in the PureWick™ franchise, aided by the recent launch of PureWick™ Male, with a strong presence in both the acute care and alternative care settings for chronic incontinence. UCC performance also reflects double-digit growth in Endourology that benefited from improved supplier performance.

•The company now expects fiscal year 2023 revenues to be in the range of approximately $19.2 billion to $19.3 billion compared to $19.1 billion to $19.3 billion previously announced, which reflects an increase of approximately $50 million at the mid-point.

•Revenue guidance now assumes base business currency-neutral revenue growth of 6.5% to 7.0% compared to 5.75% to 6.75% previously announced, which represents an increase of 50 basis points, or approximately $90 million at the mid-point.

•Revenue guidance now assumes approximately $50 million in COVID-only diagnostic testing revenues, compared to approximately $50 million to $100 million previously announced.

•Based on current rates, foreign exchange continues to represent a reduction of approximately 200 basis points, or approximately $370 million, to total company revenue growth.

•The company now expects fiscal year 2023 adjusted diluted EPS to be $12.10 to $12.32 compared to $12.07 to $12.32 previously announced. This reflects an increase of 1.5 cents at the mid-point, including an operational increase of 6.5 cents offset by an incremental headwind of approximately 5 cents from foreign currency.

•On a currency-neutral basis, adjusted diluted EPS guidance now represents growth of approximately 9.5% to 11%.

•Adjusted diluted EPS guidance now includes an estimated headwind from foreign currency of approximately 270 basis points based on current rates.

BD will host an audio webcast today for the public, investors, analysts, and news media to discuss its second quarter results. The audio webcast will be broadcast live on BD’s website, www.bd.com/investors at 8 a.m. (ET) Thursday, May 4, 2023. Accompanying slides will be available on BD’s website, www.bd.com/investors at approximately 6:30 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 1-800-688-7036 (domestic) and 1-402-220-1346 (international) through the close of business on Thursday, May 11, 2023. A confirmation number is not needed to access the replay.

We present adjusted diluted earnings per share for the second quarter and the first six months of fiscal year 2023, and the corresponding prior periods, after eliminating items we believe are not part of our ordinary operations and affect the comparability of the periods presented. Adjusted diluted earnings per share includes adjustments for the impact of purchase accounting adjustments, integration and restructuring costs, spin related costs, certain regulatory costs, certain product remediation costs, certain product liability and legal defense costs, certain investment gains and losses, and certain asset impairment charges. In particular, current and prior-year adjusted diluted earnings per share results exclude European regulatory initiative-related costs, which represent costs incurred to develop processes and systems to establish initial compliance with the European Union Medical Device Regulation and the European Union In Vitro Diagnostic Medical Device Regulation (collectively, the “New EU Medical Devices Regulations”), which represent a significant, unusual change to the existing regulatory framework. We consider the excluded European regulatory initiative-related costs to be duplicative of previously incurred costs and/or one-off costs related to establishing initial compliance with such regulatory regimes, and in each case are limited to a specific period of time. These expenses relate to establishing initial compliance with the New EU Medical Devices Regulations and include the cost of labor, other services and consulting (in particular, research and development and clinical trials) and supplies, travel and other miscellaneous costs. These costs were recorded in Cost of products sold and Research and development expense.

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. 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 the macroeconomic environment on our operations and healthcare spending, including any impact of the current disruptions in the global supply chain on our ability to source raw materials, components and energy sources needed to produce our products, labor constraints, inflationary pressures, currency rate fluctuations and increased interest rates; geopolitical developments such as the ongoing Russia and Ukraine conflict and the evolving conditions in Asia, which could adversely impact our operations; increases in energy costs and their effect on, among other things, the cost of producing BD’s products; 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, new cybersecurity or privacy laws or changes in laws impacting international trade) or changes in enforcement practices with respect to such laws; 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; adverse changes in regional, national or foreign economic conditions, including inflation, deflation and fluctuations in interest rates and foreign exchange rates, particularly in emerging markets, including any impact on our ability to access credit markets and finance our operations; the adverse impact of cyberattacks on our information systems or products; competitive factors including technological advances and new products introduced by competitors; risks relating to our overall indebtedness; the possible impact of COVID-19, including any resurgence or new strains, on our business and the global healthcare system, which could result in decreased demand for our products, disruptions to our operations or the operations of our suppliers and customers and our supply chain, and factors such as vaccine utilization rates, infection rates, the emergence of new variants and competitive factors that could impact the demand and pricing for our COVID-19 diagnostics testing; interruptions in our manufacturing or sterilization processes or those of our third-party providers; pricing and market pressures; difficulties inherent in product development, delays in product introductions and uncertainty of market acceptance of new 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 ("SEC")); and the issuance of new or revised accounting standards, as well as other factors discussed in BD’s filings with the SEC. In addition, we have made certain assumptions in making these forward-looking statements, particularly regarding supply chain pressures, inflation and foreign exchange rates. 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.

(a)Prior-period amounts were recast to reflect former intercompany transactions with Embecta.

(a)Prior-period amounts were recast to reflect former intercompany transactions with Embecta.

(a)Prior-period amounts were recast to reflect former intercompany transactions with Embecta.

(a)Prior-period amounts were recast to reflect former intercompany transactions with Embecta.

(a)Prior-period amounts were recast to reflect former intercompany transactions with Embecta.

(a)Prior-period amounts were recast to reflect former intercompany transactions with Embecta.

(1)    Inorganic revenue contribution is defined as the amount of incremental revenue recognized during the first 12 months post-acquisition. Acquisitions include: Parata and MedKeeper in the Medical Segment, and Cytognos in the Life Sciences Segment.

(1)Includes amortization and other adjustments related to the purchase accounting for acquisitions.

(2)Represents costs associated with acquisition-related integration and restructuring activities, as well as costs associated with simplification and cost saving initiatives.

(3)Represents costs recorded to Other operating expense (income), net incurred in connection with the separation of BD's former Diabetes Care business.

(4)Represents costs incurred to develop processes and systems to establish initial compliance with the European Union Medical Device Regulation and the European Union In Vitro Diagnostic Medical Device Regulation, which represent a significant, unusual change to the existing regulatory framework. We consider these costs to be duplicative of previously incurred costs and/or one-off costs, which are limited to a specific period of time. These expenses, which are recorded in Cost of products sold and Research and development expense, include the cost of labor, other services and consulting (in particular, research and development and clinical trials) and supplies, travel and other miscellaneous costs.

(5)Includes certain (income) expense items which are not part of ordinary operations and affect the comparability of the periods presented. Such items may include certain product remediation costs, certain product liability and legal defense costs, certain investment gains and losses, and certain asset impairment charges. The amount in 2022 include charges to Cost of products sold of $35 million to adjust the estimate of future product remediation costs and $54 million related to a noncash asset impairment charge in the Medical segment.

(1)Includes amortization and other adjustments related to the purchase accounting for acquisitions.

(2)Represents costs associated with acquisition-related integration and restructuring activities, as well as costs associated with simplification and cost saving initiatives.

(3)Represents costs recorded to Other operating expense (income), net incurred in connection with the separation of BD's former Diabetes Care business.

(4)Represents costs incurred to develop processes and systems to establish initial compliance with the European Union Medical Device Regulation and the European Union In Vitro Diagnostic Medical Device Regulation, which represent a significant, unusual change to the existing regulatory framework. We consider these costs to be duplicative of previously incurred costs and/or one-off costs, which are limited to a specific period of time. These expenses, which are recorded in Cost of products sold and Research and development expense, include the cost of labor, other services and consulting (in particular, research and development and clinical trials) and supplies, travel and other miscellaneous costs.

(5)Includes certain (income) expense items which are not part of ordinary operations and affect the comparability of the periods presented. Such items may include certain product remediation costs, certain product liability and legal defense costs, certain investment gains and losses, and certain asset impairment charges. The amount in 2022 include charges to Cost of products sold of $35 million to adjust the estimate of future product remediation costs and $54 million related to a noncash asset impairment charge in the Medical segment.