Slide 1: Q4 FY25 Earnings Presentation
Q4 FY25 Earnings Presentation February 26, 2026 © Solventum 2026. All rights reserved.
Slide 2: Forward-looking statements and use of document
Forward-looking statements and use of document This presentation and other materials Solventum has filed or will file with the U.S. Securities & Exchange Commission (“SEC”) (and oral communications that Solventum may make) contain forward-looking information about Solventum’s financial results and e
Slide 3: Solventum roadmap to the mission
Solventum | roadmap to the mission Values Strategic pillars Put people first Be a best & preferred Mission place to work Win with excellence Enabling better, Solve what matters smarter, safer Be a trusted partner healthcare to Advance together improve lives Be a top quartile Live with heart performe
Slide 4: Solventum value creation formula
Solventum value creation formula Attractive set up diverse businesses, attractive markets and strong brands Foundational + enhancements mission, talent, culture, innovation engine (commercial and R&D) market selection and growth drivers – enable sales growth, + Strategic clarity margin expansion and
Slide 5: Key Messages for the Quarter
Key Messages Well-positioned for the Quarter Solid financial for growth and operational and margin results expansion Continued Remain progress on confident transformation in LRP and separation Q4 FY2025 Earnings Presentation © Solventum 2026. All rights reserved. 5 2See non-GAAP financial measures a
Slide 6: Q4 FY25 Financial summary
Q4 FY25 Financial summary Key metrics Dental Solutions $343M GAAP Non-GAAP2 +8.6% Reported +5.9% Organic Operating margin 6.2% 19.9% Health Information TOTAL SOLVENTUM Systems MedSurg SALES $348M $1,235M Diluted EPS $0.36 $1.57 +3.7% Reported +3.2% Organic $1,998M +5.2% Reported (3.7)% Y/Y Reported
Slide 7: MedSurg summary
MedSurg summary AWC $483M | 39% +3.8% Y/Y Rep +1.7% Y/Y Org $1,235M Q4 financial results +5.2% Y/Y Reported +3.2% Y/Y Organic IP&SS Q4 FY25 Q4 FY24 Y/Y $752M | 61% +6.2% Y/Y Rep +4.2% Y/Y Org Reported +5.2% Tegaderm CHG IV Net sales $1,235M $1,174M Organic +3.2% Securement Dressings The only transpa
Slide 8: Dental Solutions summary
Dental Solutions summary Solventum Filtek Easy Match Intuitive 3-shade selection – Natural, Bright or Warm – designed to streamline single shade restorations. Easy Match Universal Q4 financial results Restorative matches to almost any patient’s tooth shade and provides naturally adaptive opacity. Fl
Slide 9: Health Information Systems summary
Health Information Systems summary Solventum System 360 Encompass Latest generation coding solution combines coding and reimbursement processes along Q4 financial results with workflow improvements to help hospitals streamline revenue cycle processes, receive accurate reimbursement, Q4 FY25 Q4 FY24
Slide 10: FY25 Financial summary
FY25 Financial summary Dental Solutions Key metrics $1,349M GAAP Non-GAAP3 +4.2% Reported +3.3% Organic Operating Health Information MedSurg margin 26.2% 20.5% TOTAL SOLVENTUM Systems SALES $1,360M $4,817M +4.1% Reported +4.0% Organic $8,325M +3.9% Reported +3.5% Organic Diluted EPS $8.88 $6.11 +0.9
Slide 11: Executing to achieve a more balanced capital plan
Executing to achieve a more balance capital plan Debt paydown Invest for growth Return capital to shareholders • Divested P&F business1; net • Announced and completed first • Announced $1B share repurchase proceeds primarily used for acquisition, Acera Surgical; expands program. Began repurchasing s
Slide 12: FY2026 financial guidance and considerations
FY2026 financial guidance and Additional considerations considerations1 FX impact ~100bps benefit Tariff impact2 $100M to $120M Organic sales growth +2.0% to +3.0% Pre-tax impact equates to ~$0.45 to ~$0.55 EPS; half expected to be incremental headwind in 1H 2026 +3.0% to +4.0% excluding ~100bps SKU
Slide 13: Appendix
Appendix Q4 FY2025 Earnings Presentation © Solventum 2026. All rights reserved. 13
Slide 14: Non-GAAP financial measures
Non-GAAP financial measures In addition to reporting financial results in accordance with U.S. GAAP, Solventum also provides non-GAAP measures that we use, and plan to continue using, when monitoring and evaluating operating performance and measuring cash available to invest in our business. The adj
Slide 15: Q4 FY25 non-GAAP reconciliation & free cash flow
Q4 FY25 non-GAAP reconciliation & free cash flow Purification 3M Spin-off & Separation- Certain Litigation- and Filtration Separation- ($ Millions, except per share data) Q4 FY25 GAAP Amortization Restructuring related Costs related Costs related Acquisition-related Costs Gain on Sale of Business Q4
Slide 16: FY25 non-GAAP reconciliation & free cash flow
FY25 non-GAAP reconciliation & free cash flow 3M Spin-off & Purification Separation-related Certain Litigation- and Filtration Acquisition-related Gain on Sale of Loss on Debt ($ Millions, except per share data) FY25 GAAP Amortization Restructuring Costs related Costs Separation-related Costs Busine
Slide 17: Glossary and definitions
Glossary and definitions Abbreviation Elaboration Organic sales growth AI Artificial intelligence Total net sales less the impacts of foreign currency and sales from business acquisitions or divestitures for the first 12 months post-transaction AWC Advanced Wound Care Adjusted operating income CHG C