Slide 1: 3M Acquisition of CUNO
3M Acquisition of CUNO May 12, 2005 EXHIBIT 99.1 Additional Information about the Merger and Forward Looking Statements Additional Information about the Merger and Where to Find It CUNO will file a proxy statement and other relevant documents concerning the proposed merger with the Securities and Ex
Slide 2: 3M Acquisition of CUNO: A Winning Combination
3M Acquisition of CUNO Expands presence in filtration market Establishes strong positions in fast growing liquid filtration industry segments Compelling combination of value drivers Significant cost saving opportunities Creates opportunities to expand customer relationships / cross-sell Leverages 3M
Slide 3: Summary of Acquisition Terms
Summary of Acquisition Terms $72 per share ~31% premium to 5/11 closing price $1.35bn total consideration including assumption of $60mm in net debt FY 2006 EBITDA multiple 15.6x Financially Sound Transaction Over all Time Horizons Purchase Price Financing Existing cash Closing Conditions CUNO shareh
Slide 4: CUNO Overview
CUNO Overview Strong positions in liquid filtration industry segments Long-time industry experience History of superior revenue and profit growth Solid growth aftermarket business ~70% of sales New product and innovation based company Potable Water 48 Healthcare 27 Fluid Processing 25 A Quality Comp
Slide 5: CUNO Long-Term Growth Profile
CUNO Long-Term Growth Profile Revenue EBITDA EBIT EPS 1994 143 1995 163 1996 179 1997 187 1998 199 1999 221 2000 243 2001 244 2002 258 2003 288 2004 352 2005 422 CAGR = 10.3% 1994 10 1995 18.2 1996 24.2 1997 29.1 1998 31.8 1999 33.6 2000 33.6 2001 38 2002 43.5 2003 50.5 2004 62.4 2005 74.6 CAGR = 20
Slide 6: CUNO Segment Overview
CUNO Segment Overview 27% 8 - 10% Pharma Bio Processing Biological Food & Beverage Diagnostics 25% 1 - 3% Industrial Coatings Oil & Gas Chemicals Electronics Healthcare Potable Water Fluid Processing Markets Served 48% 8 - 10% Residential Food Service OEMs and Appliances Estimated Market Growth Rate
Slide 7: A New 3M Business Platform
A New 3M Business Platform Will operate as a standalone entity in the Industrial Business Source (CUNO) will benefit from additional channels to market Culture of sharing and cooperation Joint source and selling accountability Standardized approach to shared economics 3M will provide proven Six Sigm
Slide 8: Multiple Sources of Synergies
Multiple Sources of Synergies Current Market Value + Benefit of Cost Synergies Supports Purchase Price Cost 4 - 5% reduction of CUNO cost base Redundant structure and corporate functions 3M Initiatives Market cross selling 6 of 3M's Businesses and all 3 CUNO segments engaged Oil & Gas Electronic OEM
Slide 9: 3M Air & Liquid Technology Platform
3M Air & Liquid Technology Platform 3M Technology Drives Broad Air & Liquid Filtration Business 3M Technologies Industrial & Electronic Transportation Pharma & Biopharma Appliances Residential Industrial Bioprocessing International Market Size $30bn+ Growing 8%+ 3M $1.1bn+ CUNO $0.4bn+ Combined Filt