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

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

•Q4 revenue from continuing operations of $4.8 billion decreased 1.8% as reported and increased 2.3% on a currency-neutral basis

•Q4 revenue performance driven by base revenue growth of 4.2% as reported, 8.6% currency-neutral

•Q4 GAAP and adjusted diluted EPS from continuing operations of $0.92 and $2.75, respectively

•FY22 revenue from continuing operations of $18.9 billion decreased 1.4% as reported and increased 0.9% on a currency-neutral basis

•FY22 revenue performance driven by base revenue growth of 6.9% as reported, 9.4% currency-neutral

•FY22 GAAP and adjusted diluted EPS from continuing operations of $5.38 and $11.35, respectively

•Company issues FY23 guidance; announces 51st consecutive year of dividend increases, dividend raised 4.6%

FRANKLIN LAKES, NJ (November 10, 2022) - BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced results for its fourth quarter and full year of fiscal 2022, which ended September 30, 2022.

•Launched BD® Research Cloud in the US. State-of-the-art software solution streamlines research flow cytometry workflow through integrated ecosystem that enables customers to design, run and analyze experiments.

•Launched BD Effivax™. Next-generation glass prefillable syringe sets new standard in performance for vaccines.

•Announced agreement with Biocorp to bring connectivity and traceability to self-administered injectable drug therapies like biologics, addressing an unmet need and furthering BD’s commitment to smart, connected care, enabling care to transition to alternate settings and improving chronic disease outcomes.

•Named to Forbes' 2022 list of the World's Best Employers.

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 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 performance across the segment.

•MDS performance reflects continued execution of our comprehensive vascular access management strategy which drove strong performance in catheters and vascular care in both the US and international markets.

•MMS performance reflects strong momentum in our Pharmacy Automation strategy, driven by our recent acquisition of Parata Systems. In addition, there was continued strong adoption of our Connected Medication Management strategy as evidenced by implementation and customer commitments. As anticipated, growth was partially offset by the comparison to higher dispensing installations and infusion set volumes in the prior year due to the COVID-19 pandemic.

•PS performance reflects our strong leadership position in prefillable solutions for high-growth markets like biologic drugs and vaccines.

The BD Life Sciences segment includes the Integrated Diagnostic Solutions (IDS) and Biosciences (BDB) business units. BD Life Sciences performance reflects strong growth in the base business and a decline in COVID-only testing revenues.

•IDS performance reflects a decline in COVID-only testing revenues, partially offset by strong growth in the base business despite the comparison to the prior-year launch of our combination flu/COVID assays. Base business growth was driven by leveraging our increased BD MAX™ installed base, availability of our specimen management products and incremental clinical microbiology instrument installations.

•BDB performance reflects advancement of our category leadership in flow cytometry supported by strong demand for our recently launched FACSymphony™ A1/A5 SE analyzers and FACSymphony™ S6 sorter. BDB performance also reflects higher instrument manufacturing output that was enabled by strategic procurement of critical components.

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

•Surgery performance reflects strong worldwide growth in Advanced Repair and Reconstruction driven by continued market adoption of Phasix™ hernia resorbable scaffold products. Performance also reflects double-digit growth worldwide in biosurgery.

•PI performance reflects strong growth in China driven by biopsy needles and filters, and continued global penetration of Rotarex™ and the acquisition of Venclose, which is expanding our focus across chronic disease settings. Performance was impacted by increased backorders primarily related to a European ERP implementation standardizing BDI's legacy system and planned strategic portfolio exits supporting our simplification strategy.

•UCC performance reflects continued strong demand for chronic female incontinence products with PureWick™ in the acute care and alternative care settings. Strength in acute care was aided by backorder recovery during the quarter.

•The company expects fiscal year 2023 revenues to be in the range of approximately $18.6 billion to $18.8 billion.

•Revenue guidance assumes base business currency-neutral revenue growth of 5.25% to 6.25%.

•Base business revenue guidance reflects continued momentum as we execute our BD 2025 growth strategy. In addition, base business revenue guidance includes an anticipated impact of approximately 100 basis points from an acceleration of our simplification and RECODE programs related to planned strategic portfolio exits. This impact is expected to be fully offset by the positive contribution of approximately 100 basis points from the full-year benefit of recent acquisitions, primarily Parata Systems.

•The revenue guidance range assumes approximately $125 to $175 million in COVID-19-only diagnostic testing revenues.

•Based on current rates, foreign exchange would represent a reduction of approximately 450 basis points to total company revenue growth.

•The company expects fiscal year 2023 adjusted diluted EPS to be $11.85 to $12.10. This includes an estimated impact from foreign currency of approximately 420 basis points based on current rates. On a currency-neutral basis, we expect adjusted diluted EPS growth of approximately 9% to 11%.

BD will host an audio webcast today for the public, investors, analysts, and news media to discuss its fourth quarter results. The audio webcast will be broadcast live on BD’s website, www.bd.com/investors at 8 a.m. (ET) Thursday, November 10, 2022. 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 1-800-723-0528 (domestic) and 1-402-220-2654 (international) through the close of business on Thursday, Nov. 17, 2022. A confirmation number is not needed to access the replay.

We present adjusted diluted earnings per share for the fourth fiscal quarter and the full fiscal year 2022, 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 charges, certain transaction gains and losses, certain legal defense and product remediation costs, certain regulatory costs, certain investment gains and losses, certain asset impairment costs, and the impact of the extinguishment of debt. 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.

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 manufacture our products, labor constraints, inflationary pressures, currency rate fluctuations and increased interest rates; the possible impact of the COVID-19 pandemic on our business and the global healthcare system (including reductions in procedures or capital spending that result in decreased demand for our products), disruptions to our operations or the operations of our suppliers and customers (including the impact of employee absenteeism) 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); 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, 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; 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; 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; adverse changes in geopolitical conditions; 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. The Russia and Ukraine conflict may also heighten the impact of certain of these factors described above 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.

(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)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 and incurred in connection with the separation of BD's former Diabetes Care business.

(4)The amounts in 2022 and 2021 include charges of $31 million and $18 million, respectively, recorded to Cost of products sold to adjust the estimate of future product remediation costs, as well as charges of $20 million and $65 million, respectively, to record product liability reserves, including related legal defense costs, to Other operating expense (income), net. The amount in 2022 also includes pension settlement costs of $68 million. The amount in 2021 also includes a gain of $70 million on a sale-leaseback transaction which was recorded to Other operating expense (income), net.

(5)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.

(6)Includes non-cash (gains) losses recorded within Other expense, net relating to certain investments.