A COMMITMENT TO INNOVATION TAKING HEALTHCARE FURTHER, TOGETHER.

Company Presentation

1 TABLE OF CONTENTS (BY SECTION)

1 About us 4 How we do it ▪ Our people, workplace, & global presence Who we are 2 ▪ Culture of quality ▪ Founding ▪ Commitment to the community ▪ Our Mission ▪ Innovation timeline 5 Appendix ▪ Our leaders 3 What we do ▪ Addressing, transforming ▪ Our therapies and solutions ▪ Our business groups ▪ Technology innovation

2 TWO-COLUMN CONTENT SLIDE ABOUT US MEDICAL TECHNOLOGY IS WHAT WE DO. IT’S WHAT WE’VE ALWAYS DONE. You may know us as the pacemaker company, the diabetes pump maker, or deep-brain stimulation experts — and we do so much more.

4 Company Presentation | July 2019 Abdominal Aortic Aneurysm (AAA) • Atrial Fibrillation • Barrett’s Esophagus • Blood Pressure Basics • Bradycardia (Slow Heartbeat) • Breath Monitoring • Cancer Pain • Cervical Herniated Discs • Cervical Disc Degeneration • Chronic Pain • Colon Disease • Coronary Artery Disease (CAD) • Crohn’s Disease • Dysphagia (Difficulty Swallowing) • Dystonia • Ear Infections • Epilepsy • Essential Tremor • Fecal Incontinence • Gastroesophageal Reflux Disease (GERD) • Gastroparesis • GI Bleeding • Hearing Loss • Heart Failure • Heart Palpitations • Heart Valve Disease • Hernia • Hydrocephalus • Idiopathic Intracranial Hypertension • Lung Cancer • Normal Pressure Hydrocephalus • Obesity • Obsessive-Compulsive Disorder (OCD) • Overactive Bladder • Parkinson’s Disease • Peripheral Arterial Disease • Polyps • Pulmonary Valve Disease • Sacroiliac Joint Dysfunction • Scoliosis • Severe Spasticity • Sinus Infections • Spinal Fractures • Suspected Atrial Fibrillation • Tachycardia (Fast Heartbeat) • Thoracic Aortic Aneurysm (TAA) • Thyroid Conditions • Type 1 & Type 2 Diabetes • Unexplained Fainting • Unexplained Stroke • Urinary Retention

WE CREATE INNOVATIONS AT THE THERAPEUTIC, PROCEDURAL, AND SYSTEM LEVEL Therapies to treat more than 70 conditions in the human body

5 Company Presentation | July 2019 Ablation products • Aortic stent graft products • Balloon kyphoplasty • Biomaterials • Bone conductive hearing device • Brain monitoring • Capnography monitoring • Cardiac monitors • Cardiac resynchronization therapy (CRT) systems • Cardiopulmonary products • Cerebral/somatic oximetry • Continuous Glucose Monitoring system • Coronary stents • Cranial repair products • Deep brain stimulation system • Dialysis • Drug-coated balloons • Drug infusion systems • Electrosurgical products • Endoscopic ultrasound products • External defibrillators • Gastric electrical stimulation systems • Health informatics & monitoring • Heart valves replacement • Hernia repair • High- speed surgical drills & tools • Hysteroscopy systems • Image-guided surgery • Implantable cardiac defibrillator (ICD) systems • Infusion sets • Insulin pumps with continuous monitors • Laser ablation technology • Motility testing products • Nerve monitoring products • Pacing systems • Peripheral embolization products • Reflux testing products • Revascularization products • Sacral neuromodulation systems • Shunts • Smoke evacuation systems • Spine robotics • Support catheters • Surgical navigation systems • Surgical stapling • Therapy management software • Tumor management • Ultrasonic dissection • Ventricular assist devices (VAD) • Vertebroplasty • Vessel sealing • Wound closure

WE CREATE INNOVATIONS AT THE THERAPEUTIC, PROCEDURAL, AND SYSTEM LEVEL More than 47,000+ patents in our total portfolio

6 Company Presentation | July 2019 TWO-COLUMN CONTENT SLIDE TOGETHER, WE IMPROVE THE LIVES OF PEOPLE AROUND THE WORLD TODAY

1 2 3 WHO WHAT HOW WE ARE WE DO WE DO IT

8 Company Presentation | July 2019 TWO-COLUMN CONTENT SLIDE WHO WE ARE LEFT: Surgeon C. Walton RIGHT: Our late Lillehei in 1961, with a co-founder and lifelong young patient wearing a innovator, Earl Bakken, FOUNDED ON Medtronic battery- holding the world’s operated pacemaker. smallest pacemaker today next to the world’s first INNOVATION AND pacemaker (1957), both COLLABORATION developed by Medtronic.

Since the late 1940s, we have been working with others to alleviate pain, restore health, and extend life.

10 Company Presentation | July 2019 WRITTEN IN 1960, OUR MISSION DRIVES EVERYTHING WE DO. To contribute to human welfare by application of 1 biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life. 2 To direct our growth in the areas of biomedical engineering.

To strive without reserve for the greatest possible 3 reliability and quality in our products. 4 To make a fair profit. 5 To recognize the personal worth of all employees. 6 To maintain good citizenship.

11 OUR RICH HISTORY OF INNOVATION HOW WE’VE GROWN OVER THE YEARS

MEDTRONIC CREATED FIRST WROTE DEVELOPED INTRODUCED IS FOUNDED BATTERY- OUR THE FIRST PROSTHETIC OPERATED, MISSION IMPLANTABLE HEART VALVE EXTERNAL PACEMAKER PACEMAKER 1949 1957 1960 1977

INTRODUCED EXPANDED EXPANDED EXPANDED FIRST REMOTE INTO INTO INTO MONITORING DIABETES SPINAL NEURO- SYSTEM CARE CARE STIMULATION 1979 ESTABLISHED THE MEDTRONIC FOUNDATION 2002 2001 1999 1983

INTRODUCED INTRODUCED LAUNCHED THE WORLD’S SMALLEST THE WORLD'S MAZOR X STEALTH 2015 PACEMAKER SMALLEST EDITION SYSTEM AND THE IMPLANTABLE FOR ROBOTIC- ACQUIRED FIRST HYBRID COVIDIEN SPINAL CORD ASSISTED SPINE CLOSED LOOP INSULIN STIMULATOR SURGERY DELIVERY SYSTEM 2016 2017 2019

12 TWO-COLUMN CONTENT SLIDE MEDICAL TECHNOLOGY HAS THE POWER TO CHANGE LIVES

We believe technology is part of the solution to making healthcare better — technology in devices, in processes, and in healthcare systems around the world. “The future of healthcare requires new “ approaches and new forms of innovation. Medtronic is stepping forward to put the full power of our technologies — and our people — to

work with new partners, in new ways,

and drive value across the healthcare ecosystem. Only through collaboration“ can we drive healthcare toward a healthier, more efficient future. — Medtronic Chief Executive Officer, Geoff Martha TWO-COLUMN CONTENT SLIDE WHAT WE DO ADDRESS UNIVERSAL HEALTHCARE CHALLENGES

Populations are aging Chronic diseases are rising Many payment and Government policies and delivery systems reward regulatory systems are volume over value impacting innovations and increasing time to market

16 Company Presentation | July 2019 COMMITTED TO HELPING TRANSFORM HEALTHCARE

THERAPY GLOBALIZATION ECONOMIC INNOVATION VALUE

Introducing and Addressing the Helping lead the creation delivering meaningful inequities in healthcare of value-based offerings at the access globally healthcare solutions therapeutic, procedural, and system level

17 Company Presentation | July 2019 OUR THERAPIES AND SOLUTIONS IMPROVE LIVES

BRAIN More than 70 conditions in EAR, NOSE & THROAT the human body are treated

HEART & VASCULAR with our therapies, enabling AIRWAY & LUNG SPINE & ORTHOPEDIC us to address chronic DIABETES DIGESTIVE, conditions and provide PAIN GASTROINTESTINAL, UROGYNECOLOGICAL, healthcare solutions & UROLOGICAL

18 Company Presentation | July 2019 WE OFFER THERAPIES AND SOLUTIONS ACROSS OUR FOUR BUSINESS GROUPS

CARDIAC & DIABETES MINIMALLY RESTORATIVE VASCULAR GROUP INVASIVE THERAPIES GROUP THERAPIES GROUP GROUP ▪ Aortic and Peripheral Vascular ▪ Advanced Insulin Management ▪ Renal Care Solutions ▪ Brain Therapies ▪ Atrial Fibrillation Solutions ▪ Automated Delivery Systems ▪ Respiratory, Gastrointestinal ▪ Pain Therapies ▪ Multiple Daily Injection Solutions & Informatics ▪ Cardiac Rhythm and Heart ▪ Customer Retention & Experience ▪ Specialty Therapies Failure ▪ Non-intensive Diabetes ▪ Surgical Innovations ▪ Spine ▪ Coronary and Structural Heart Therapies

19 Company Presentation | July 2019 CARDIAC & VASCULAR GROUP

▪ Aortic, Peripheral, & Venous Cardiac Cryoballoon Transcatheter ▪ Atrial Fibrillation Solutions Catheter Heart Valves ▪ Cardiac Rhythm and Heart Failure ▪ Coronary and Structural Heart

Thoracic Stent Transcatheter Graft System Pacing System

20 Company Presentation | July 2019 DIABETES GROUP

Therapies and services for insulin dependent Type 1 and Type 2 patients Mobile Monitoring Diagnostic CGM Tools

Insulin Pumps with built-in Continuous Glucose Monitoring

21 Company Presentation | July 2019 MINIMALLY INVASIVE THERAPIES GROUP ▪ Renal Care Solutions

Navigation ▪ Respiratory, Gastrointestinal Systems Capnography & Informatics ▪ Surgical Innovations

Tri-stapling Systems

22 Company Presentation | July 2019 RESTORATIVE THERAPIES GROUP

▪ Brain Therapies

▪ Pain Therapies Spine Revascularization Systems Devices ▪ Specialty Therapies ▪ Spine

Targeted Drug Delivery

23 Company Presentation | July 2019 MEDTRONIC CONTINUES TO LEAD IN TECHNOLOGY INNOVATION

Invention creating and developing new therapies that result in new markets

CoreValve™ PillCam™ Capsule Reveal LINQ™ ICM Solitaire™ TAVR Endoscopy Revascularization

Continuous Innovation Enhancing the clinical outcomes and economic value of existing products

VisiaAF™ ICD Azure™ Pacing Intellis™ Implantable StealthStation™ Resolute ONYX™ Signia™ Surgical System Neurostimulator Surgical Navigation Drug-eluting stent Stapling

Disruption Disruptive therapies in existing markets

MiniMed™ 670G Surgical Robotics Micra™ Wireless Arctic Front Advance™ Insulin Pump System System Pacing System Cryoballoon *Pipeline — Product concept in development

24 Company Presentation | July 2019 TWO-COLUMN CONTENT SLIDE HOW WE DO IT Medtronic employee Amanda Miranda returned to work as a biomedical engineer after spending six years away to attend to OUR PEOPLE her family. Through Careers 2.0 — a Medtronic hiring initiative for women in engineering that helps them return to the industry Expertise to achieve our Mission after personal time away — Miranda found a position that fits her skills and helps her feel like she’s making a difference.

90,000+ 10,000+ 1,600+ EMPLOYEES SCIENTISTS CLINICAL & ENGINEERS PROFESSIONALS

And tremendous ▪ $2.3 billion in R&D investments clinical expertise ▪ $480+ million in clinical investments and investments*: ▪ 4,300+ patents ▪ 370+ clinical trials

* Numbers are representative of this past year.

26 Company Presentation | July 2019 OUR WORKPLACE Attracting and recognizing the best talent

DiversityInc Thomson Corporate Wall Street Medtronic was Forbes Recognizes Reuters Responsibility Journal recognized in Magazine Medtronic Diversity and Magazine recognizes the 2018 named in Annual Inclusion Index recognizes Medtronic as LGBTQ Medtronic “Top 50” list for ranks Medtronic Medtronic on a “Best Run Business one of the third year in #3 in their Top 100 Best Company” Equality America’s Best a row 100 list Corporate in 2018 Excellence Employers Citizens List Awards

27 Company Presentation | July 2019 OUR GLOBAL PRESENCE OPERATE IN ORGANIZED IN Helping more people in more places 150+ 4 COUNTRIES REGIONS

EUROPE, MIDDLE EAST, & AFRICA 41 75 DISTRIBUTION MANUFACTURING SITES SITES GREATER CHINA

AMERICAS

ASIA PACIFIC Headquarter Locations Medtronic Operational Headquarters Minneapolis, Minnesota Medtronic Principal Executive Office Dublin, Ireland

28 Company Presentation | July 2019 OUR COMMITMENT TO QUALITY IS ROOTED IN PATIENT SAFETY Ensuring reliable, effective, and safe products

Quality and reliability are the DNA of our company, making them cornerstones of the Mission statement.

It informs the Medtronic business strategy in therapy innovation, globalization, and economic value, and guides global teams when they interact with customers, collaborators, regulators, and one another.

29 Company Presentation | July 2019 DRIVING A MINDSET OF EXCELLENCE THROUGH A CULTURE OF QUALITY

FIVE BENEFITS OF A CULTURE OF QUALITY 1. Greater patient health and safety 2. Accountable and empowered employees 3. Heightened credibility with partners 4. Innovative culture 5. Stronger cost efficiencies

“Building a culture of quality is the greatest commitment we can make to our customers, clinicians, and patients,” says Omar Ishrak, Medtronic Chairman and CEO.

Company30 Presentation | July 2019 OUR COMMITMENT TO THE COMMUNITY Philanthropic giving and volunteerism

TOTAL: 29% 57% MEDTRONIC CASH FOUNDATION CONTRIBUTIONS $100 GIVING ($42.3M) ($55.2M) MILLION

4% EMPLOYEE VOLUNTEERISM ($1.4M)

9% PRODUCT DONATIONS ($15.4M)

31 FY20 Company Presentation | July 2019 PROGRESS PARTNERSHIP

Through progress and partnership we are reaching further than ever before to transform healthcare. This means helping our partners and providers improve quality and efficiency of care through medical technology and deep clinical expertise. Let’s partner in taking healthcare Further, Together.

32 FY20 Company Presentation | July 2019

TWO-COLUMN CONTENT SLIDE APPENDIX OUR LEADERS Shaping healthcare’s future

OMAR ISHRAK GEOFFREY S. NOEL COLON MICHAEL J. JOHN RICHARD E. ALEX GU CHRIS LEE BRAD LERMAN Executive Chairman MARTHA SVP, Chief Quality and COYLE LIDDICOAT, MD KUNTZ, MD, MSC SVP and President, SVP and President, SVP, General Counsel and Chairman of the Chief Executive Regulatory Affairs EVP and President, EVP and President, SVP and Chief Medical Greater China Asia Pacific Region and Corporate Board Officer Officer Cardiac and Vascular Americas Region and Scientific Officer Secretary Group

KAREN L. MARK PLOOF SEAN SALMON CAROL A. ROB TEN HOEDT BRETT WALL BOB WHITE PARKHILL EVP, Global SVP, Diabetes Group SURFACE EVP and President, SVP, Restorative EVP and President, EVP and Chief Operations and SVP and Chief Human Europe, Middle East, Therapies Group Minimally Invasive Financial Officer Business Services Resources Officer and Africa Region Therapies Group

35 FY20 Company Presentation | July 2019