Investors: Adam Reiffe, Sr. Director, Investor Relations - 201-847-6927

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

•Revenue of $5.0 billion as reported, adjusted revenue of $5.1 billion, driven by strong organic revenue growth

•GAAP and adjusted diluted EPS of $1.68 and $3.50 grew 23.5% and 18.2%, respectively

•Year-to-date Cash from Continuing Operations grew 60% to $2.7 billion and Free Cash Flow grew over 100% to $2.2 billion, increasing $1.0 billion and $1.2 billion since the prior year, respectively

•The company updated its fiscal 2024 GAAP revenue growth guidance to approximately 3.7%, and its organic revenue growth guidance to 5.0% to 5.25%

•The company increased its fiscal 2024 adjusted diluted EPS guidance by 5 cents at the midpoint to $13.05 to $13.151

FRANKLIN LAKES, NJ (August 1, 2024) - BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced results for its third quarter of fiscal 2024, which ended June 30, 2024.

1 BD does not attempt to provide reconciliations of forward-looking adjusted diluted EPS guidance to the comparable GAAP measure. See the discussion below under "Assumptions and Outlook for Full Year Fiscal 2024."

•The company announced a definitive agreement to acquire Edwards Lifesciences' Critical Care Product Group for $4.2 billion, enhancing BD's portfolio of smart connected care solutions, AI-based technologies and becoming an advanced monitoring technology leader.

•BD Life Sciences:

•The Integrated Diagnostics Solutions business unit announced US FDA approval for self-collection of samples for cervical cancer screening in a healthcare setting.

•The Biosciences business unit announced the commercial launch of the BD Rhapsody™ ATAC-Seq Assay, a new offering for the Rhapsody platform that expands our single cell capabilities to serve epigenomics - an adjacent and rapidly growing area of DNA regulation research focused on cancer and infectious diseases.

•BD issued its Fiscal Year 2023 Together We Advance Corporate Sustainability Report and announced it has surpassed its Scope 1 and 2 science-based greenhouse gas (GHG) emissions reduction targets for FY 2023 by 5 percentage points, with a reduction of 18% versus its fiscal 2019 baseline.

•Issued 2023 Product Security Annual Report, highlighting the company's leadership and commitment to product security, transparency and collaboration.

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

2Adjusted Revenues excludes the recognition of accruals resulting from recent developments relating to the Italian government medical device pay back legislation, as well as another legal matter, and which substantially relate to years prior to the current fiscal year.

3Organic Revenue growth denotes foreign currency neutral Adjusted Revenues further adjusted for the impact to revenues from acquisitions and divestitures during the first 12 months post-acquisition/divestiture.

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

2Adjusted Revenues excludes the recognition of accruals resulting from recent developments relating to the Italian government medical device pay back legislation, as well as another legal matter, and which substantially relate to years prior to the current fiscal year.

Revenues (Millions of dollars)						Three Months Ended June 30,												Reported Change						Foreign Currency Neutral Change1						Organic Revenue Change1,3
						2024						2023
BD Medical						$	2,558					$	2,434					5.1		%				5.6		%				5.6		%
BD Life Sciences						$	1,260					$	1,226					2.7		%				3.5		%				3.5		%
BD Interventional						$	1,240					$	1,218					1.8		%				2.6		%				6.4		%
Other2						$	(67)					$	—					(100.0)		%				(100.0)		%				(100.0)		%
Total Revenues						$	4,990					$	4,878					2.3		%				2.9		%
Adjusted Revenues1,2						$	5,057					$	4,878					3.7		%				4.3		%				5.2		%

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

2Adjusted Revenues excludes "Other" which represents the recognition of accruals resulting from recent developments relating to the Italian government medical device pay back legislation, as well as another legal matter, and which substantially relate to years prior to the current fiscal year.

3Organic Revenue growth denotes foreign currency neutral Adjusted Revenues further adjusted for the impact to revenues from acquisitions and divestitures during the first 12 months post-acquisition/divestiture.

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 MMS and MDS.

•MDS performance reflects strong volume growth across the portfolio with increased market position in Vascular Access Management and hypodermic products that was partially offset by the impact of market dynamics in China, as anticipated.

•MMS performance reflects high double-digit growth in Infusion driven by BD Alaris™ and higher utilization of infusion sets that was partially offset by the prior-year comparison in Dispensing Solutions.

•PS performance reflects strong double-digit growth in Biologics and GLP-1s that was offset by expected transitory market dynamics including customer inventory de-stocking in anti-coagulants and vaccines.

The BD Life Sciences segment includes the Integrated Diagnostic Solutions (IDS) and Biosciences (BDB) business units. BD Life Sciences revenue growth was driven by IDS.

•IDS performance reflects high-single digit growth in Specimen Management driven by broad volume strength across the BD Vacutainer™ portfolio and customer upgrades to higher value products.

•BDB performance reflects transitory market dynamics that resulted in lower market demand for instruments that was partially offset by growth in clinical reagents.

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

•Surgery performance reflects double-digit organic growth across all three major platforms - Advanced Repair & Reconstruction, Infection Prevention, and Biosurgery. The unit's performance also reflects the impact from the divestiture of the Surgical Instrumentation platform.

•PI performance reflects double-digit growth in the Peripheral Vascular Disease portfolio that was partially offset by a decline in Oncology, primarily driven by market dynamics in China.

•UCC performance reflects strong double-digit growth in the PureWick™ franchise with continued adoption of both the Male and Female portfolios.

BD will host an audio webcast today for the public, investors, analysts, and news media to discuss its third quarter results. The audio webcast will be broadcast live on BD’s website, www.bd.com/investors at 8 a.m. (ET) Thursday, August 1, 2024. 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 800-839-2385 (domestic) and 402-220-7203 (international) through the close of business on Thursday, August 8, 2024. A confirmation number is not needed to access the replay.

We also present adjusted diluted earnings per share for the third quarter and the first nine months of fiscal year 2024, 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, transaction and financing costs, spin-off related costs, certain regulatory costs, certain product remediation costs, certain legal matters, certain investment gains and losses, certain asset impairment charges, and certain pension settlement costs. 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 and accompanying audio webcast on August 1, 2024 contain 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, margins, earnings per share, leverage targets and capital deployment. All such statements are based upon current expectations and assumptions 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 such forward-looking statements, a number of factors could cause actual results to vary materially. These factors include, but are not limited to, risks relating to macroeconomic conditions and their impact on our operations and healthcare spending generally, including any impact of disruptions in the global transportation networks or other aspects of our supply chain on our ability to source raw materials, components and energy sources needed to produce our products, labor constraints or disputes, inflationary pressures, currency rate fluctuations, and increased interest rates and borrowing costs; conditions in international markets, including geopolitical developments such as the evolving situations in Russia and Ukraine, the Middle East and Asia, which could adversely impact our operations; competitive factors including technological advances and new products or novel medical therapies introduced by competitors; increases in energy costs and their effect on, among other things, the cost of producing BD’s products; product efficacy or safety concerns or non-compliance with applicable regulatory requirements (such as non-compliance of our products with registration requirements resulting from modifications to such products, or other factors) resulting in product recalls or actions being taken with respect to our products; changes to legislation or regulations impacting the U.S. or foreign healthcare systems, changes in medical practices or in the preference of healthcare consumers, potential cuts in governmental research or other healthcare spending, or governmental or private measures to contain healthcare costs, such as China’s volume-based procurement tender process or changes in pricing and reimbursement policies, which could result in reduced demand for our products or downward pricing pressure; increased labor costs and labor shortages or disputes; new or changing laws and regulations impacting our business (including the imposition of tariffs, sanctions, changes in tax laws, new environmental laws and regulations (such as those related to climate change or materials of concern), new cybersecurity, artificial intelligence or privacy laws, or changes in laws impacting international trade or anti-corruption and bribery, or changes in reporting requirements or enforcement practices with respect to such laws; our suppliers’ ability to provide products needed for our operations and BD’s ability to maintain favorable supplier arrangements and relationships; adverse changes in regional, national or foreign economic conditions, including any impact on our ability to access credit markets and finance our operations; the adverse impact of information and technology system disruptions, including disruptions caused by cyberattacks, on our business or products; risks relating to our overall indebtedness; the possible impact of public health crises on our business and the global healthcare system, which could decrease demand for our products, disrupt our operations or the operations of our customers and companies within our supply chain, or increase transportation costs; interruptions in our manufacturing or sterilization processes or those of our third-party providers, including any restrictions placed on the use of ethylene oxide for sterilization; pricing and market pressures; difficulties inherent in product development, delays in product introductions and uncertainty of market acceptance of new products; the overall timing of the replacement or remediation of the BD Alaris™ Infusion System and return to market in the U.S., which may be impacted by, among other things, customer readiness, supply continuity and our continued engagement with the FDA; 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. 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.