3M (MMM) official guidance

This year, we think we'll be about $450 million above macro in the full year.

| Purchase of property, plant and equipment (PPE) | ~$1.1 |

| 2026 adjusted effective tax rate (non-GAAP measure)4,5 | ~20% |

•Adjusted EPS2 in the range of $8.80 to $8.95.

| Adjusted free cash flow (non-GAAP measure)5,6 | $4.7 to $4.9 |

•Adjusted operating cash flow2 of $5.8 to $6.0 billion, contributing to >100 percent adjusted free cash flow conversion2.

| Adjusted net income attributable to 3M (non-GAAP measure)4,5 | $4.6 to $4.7 |

| Net income attributable to 3M | $4.6 to $4.7 |

•Adjusted operating cash flow2 of $5.8 to $6.0 billion, contributing to >100 percent adjusted free cash flow conversion2.

| Net cash provided by (used in) operating activities | $5.8 to $6.0 |

•Adjusted operating income margin expansion2 of 70 bps to 80 bps.

•Adjusted total sales growth2 of >4.5 percent, reflecting adjusted organic sales growth2 of >3.5 percent.

•Adjusted total sales growth2 of >4.5 percent, reflecting adjusted organic sales growth2 of >3.5 percent.

Organic sales growth of approximately 3%, earnings per share ranging from $8.50-$8.70, and free cash flow conversion of greater than 100%.

You put all of that together, we should grow more than $0.05 in the Q2, which for the H1 would put us at about $0.30+ of EPS growth, which is more than half if you include the contingency for the full year.

You put all of that together, we should grow more than $0.05 in the Q2, which for the H1 would put us at about $0.30+ of EPS growth, which is more than half if you include the contingency for the full year.

We believe our free cash flow will be more than $4.5 billion for the year and greater than 100% conversion.

Organic sales growth of approximately 3%, earnings per share ranging from $8.50-$8.70, and free cash flow conversion of greater than 100%.

You will see operationally for us, it's going to be a solid margin, about 24.5% and a good EPS flow-through coming from that.

As we lap tariff pressure in the H2, the continued momentum on productivity and volume acceleration gives us confidence in our expectation of approximately 100 basis points margin expansion for Business Groups this year.

Organic sales growth of approximately 3%, earnings per share ranging from $8.50-$8.70, and free cash flow conversion of greater than 100%.

As we mentioned, because of the good backlog and the order momentum, we expect organic growth in the Q2 to be higher than 3%, with all the three BGs accelerating.

Price for the year, around 1.3 points.

We launched 84 new products in Q1, up 35% versus last year, and we're on pace to launch 350 in 2026.

This will put us ahead of our Investor Day target to launch 1,000 new products through 2027.

SIBG, which was at 3.2%, obviously going higher than that. TBG, low single digit, and CBG flat to positive. That's the expectation on the revenue growth acceleration.

For the year, we expect to see some growth. It'll be positive. It won't be a meaningful driver of the overall 3M growth in the year.

SIBG, which was at 3.2%, obviously going higher than that.

SIBG, which was at 3.2%, obviously going higher than that. TBG, low single digit, and CBG flat to positive. That's the expectation on the revenue growth acceleration.

We're leveraging Kaizen events, visual inspection systems, automation solutions, and AI-enabled models to optimize changeovers to improve quality, with a target of 5.4% cost of quality in 2026 and less than 4% over time.

Volume, productivity, and slight favorability in FX will more than offset the stranded costs, gross tariff impact, and increase in investments, resulting in high single-digit year-on-year earnings growth.

Overall, we expect total company income to grow by $400 million at the midpoint of our 70-80 basis points margin expansion guide.

The business groups combined will expand margins over $450 million or 100 basis points, including $875 million from volume growth and net productivity across supply chain and SG&A.

Not too long ago, our growth rates were trailing the macro, and now we are progressing ahead of our medium-term commitments of $1 billion growth over macro and a 25% operating margin by 2027.

Corporate and other income will be lower by $50-$75 million or 20-30 basis points, largely from wind down of transition services agreements related to Solventum.

Corporate and other income will be lower by $50-$75 million or 20-30 basis points, largely from wind down of transition services agreements related to Solventum.

We still see that to be overall Electronics up mid-single digits for the year.

SIBG and TBG grew 2.7% combined in 2025, and we expect this growth rate will accelerate in 2026, supported by ongoing commercial excellence initiatives, strong service levels, and continued new product introductions.

In the Q1, the sales growth in SIBG and TBG combined is expected to be higher than 3%, and we will continue to monitor the recovery in our Consumer business.

Not too long ago, our growth rates were trailing the macro, and now we are progressing ahead of our medium-term commitments of $1 billion growth over macro and a 25% operating margin by 2027.

And we plan to deploy capital effectively, including a gross share repurchase of approximately $2.5 billion in 2026.

For EPS, we expect operational performance to be the primary driver of earnings growth, similar to this year. Non-operational performance will be influenced by changes in interest rates and FX, while tax rates should remain stable and share buybacks will continue to be accretive.

Our strong performance through the first three quarters of the year enables us to increase our earnings per share guidance to $7.95-$8.05.

On the back of a strong Q3, we now expect full-year organic sales growth to be greater than 2%, with adjusted free cash flow conversion remaining above 100%.

Our focus on productivity has enabled us to deliver strong margins every quarter, and on the back of this performance, we are updating our margin expansion expectations to 180 basis points-200 basis points for the year.

While the macroeconomic outlook is uncertain, we will outperform by scaling commercial excellence across all business units and leveraging new product launches. Alongside growth, we will improve productivity in our supply chain and G&A to more than offset investments, stranded costs, and anticipated tariff impacts, resulting in margin expansion in 2026.

On the back of a strong Q3, we now expect full-year organic sales growth to be greater than 2%, with adjusted free cash flow conversion remaining above 100%.

This quarter is $14 million. Next quarter, it'll be in that same range, about $15 million.

What we laid out in Investor Day was $1 billion over three years, $100 million this year, $300 million next year, and $600 million the year after, cumulative $1 billion.

| Adjusted purchases of PPE (non-GAAP measure)5 | (~$0.9) |

| Purchase of property, plant and equipment (PPE) | (~$0.9) |

•Adjusted EPS1 in the range of $7.95 to $8.05.

| Adjusted free cash flow (non-GAAP measure)4,5 | $4.3 to $4.5 |

| Adjusted net income attributable to 3M (non-GAAP measure)3,4 | $4.3 to $4.4 |

| Net income attributable to 3M | $4.3 to $4.4 |

•Adjusted operating cash flow1 of $5.2 to $5.4 billion, contributing to >100 percent adjusted free cash flow conversion1.

| Net cash provided by (used in) operating activities | $5.2 to $5.4 |

•Adjusted operating income margin expansion1 of 180 bps to 200 bps.

•Adjusted total sales growth1 of >2.5 percent, reflecting adjusted organic sales growth1 of >2 percent.

•Adjusted total sales growth1 of >2.5 percent, reflecting adjusted organic sales growth1 of >2 percent.