Slide 1: Earnings Q4 FY26
Earnings Q4 FY26 | June 3, 2026 Contact: investor.relations@medtronic.com
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to competitive factors, difficulties and delays inherent in the developme
Slide 3: Executive Summary
Q4 FY26 Executive Summary Executive Summary Portfolio Highlights FY26 Recap Guidance & Assumptions Impact Appendix Stealth AXiS Surgical System Earnings Report | Q4 FY26
Slide 4: Q4 FY26 Highlights
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Q4 FY26 Highlights Highest annual revenue growth in 10 years; executing on strategic priorities, and accelerating momentum Our performance reflects the strongest annual top-line growth Medtronic has de
Slide 5: Q4 FY26 Financial Summary
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Q4 FY26 Financial Summary Revenue Adj. Operating Profit Adj. Diluted EPS $ $ $ +9.9% reported +0.6% Y/Y (4.3%) Y/Y +6.6% organic Revenue Revenue by geography Cardiovascular: $3,797M; +10.1% organic Uni
Slide 6: Q4 FY26 Adjusted Income Statement
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Q4 FY26 Adjusted Income Statement ($ in millions)1 Q4 FY26 Q4 FY25 Y/Y Growth / Financial Highlights Change Revenue 9,807 8,927 +9.9% Organic revenue growth +6.6% • Adj. gross margin +110 bps Y/Y Gross
Slide 7: Q4 FY26 Portfolio Highlights
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Q4 FY26 Portfolio Highlights 10% growth Y/Y; CAS delivered 78% growth Y/Y, gaining 8 points of U.S. share; Cardiovascular continued strength in CRM; Symplicity driving meaningful growth in CRDN Perform
Slide 8: Operational Highlights
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Operational Highlights Infuse OmniaSecure Stealth AXiS Affera System VitalFlow Transport Two ICE Catheter Bone Graft Defibrillation Lead Frame Air and Ground technology investments* Surgical System Sph
Slide 9: Q4 FY26 M&A & Venture Capital Activity
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Q4 FY26 M&A & Venture Capital Activity Acquisitions Completed April 2026 Agreement to Acquire Agreement to Acquire* FFRangio® System uses AI and advanced Reimagines neurovascular guidewires through the
Slide 10: Portfolio Highlights
Q4 FY26 Portfolio Highlights Executive Summary Portfolio Highlights FY26 Recap Guidance & Assumptions Impact Appendix Affera Mapping System and Sphere-9 PF and RF Ablation and Mapping Catheter Earnings Report | Q4 FY26
Slide 11: Cardiovascular
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Cardiovascular 10% growth Y/Y; CAS delivered 78% growth Y/Y, gaining 8 points of U.S. share; continued strength in CRM; Symplicity driving meaningful growth in CRDN Cardiac Rhythm & Heart Failure Cardi
Slide 12: Neuroscience
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Neuroscience Performance led by 6% growth in international markets; Stealth AXiS secured FDA clearance for Spine, Cranial and ENT indications and CE Mark for Spine and Cranial indications Cranial & Spi
Slide 13: Medical Surgical
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Medical Surgical Strong Acute Care & Monitoring and Endoscopy growth; filed Hugo submission for General Surgery and Gynecology indications with U.S. FDA Surgical & Endoscopy Surgical: 3% growth driven
Slide 14: Diabetes
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Diabetes Strong international performance; U.S. sequential pump momentum; IPO complete United States • Continued sequential pump momentum driven by new Simplera and Instinct sensors while navigating tr
Slide 15: FY26 Recap
FY26 Recap Executive Summary Portfolio Highlights FY26 Recap Guidance & Assumptions Impact Appendix Neuroguard IEP 1 System 1. Third party brands are trademarks of their respective owners Earnings Report | Q4 FY26
Slide 16: FY26 Financial Summary
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix FY26 Financial Summary Revenue Adj. Operating Profit Adj. Diluted EPS $ $ $ +8.4% reported +2.4% Y/Y 0.7% Y/Y +5.8% organic Revenue Revenue by geography Cardiovascular: $13,976M; +9.3% organic United S
Slide 17: FY26 Adjusted Income Statement
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix FY26 Adjusted Income Statement ($ in millions)1 FY26 FY25 Y/Y Growth / Financial Highlights Change Revenue 36,325 33,627 +8.0% Organic revenue growth +5.8% • Adj. gross margin +10 bps Y/Y Gross Margin
Slide 18: Guidance & Assumptions
FY27 Guidance & Assumptions Executive Summary Portfolio Highlights FY26 Recap Guidance & Assumptions Impact Appendix Symplicity Spyral Renal Denervation System Earnings Report | Q4 FY26
Slide 19: Guidance and assumptions
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Guidance and assumptions • Including the Diabetes business for the full year FY27; guidance includes associated monthly dilution and assumes no share count benefit in FY27 Diabetes • Should separation
Slide 20: Impact
FY26 Impact Executive Summary Portfolio Highlights FY26 Recap Hugo Robotic Assisted Guidance & Assumptions Surgery System with ICG and Touch Surgery Impact Appendix Earnings Report | Q4 FY26
Slide 21: Leading in engagement, citizenship, and innovation
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Leading in engagement, citizenship, and innovation Ethisphere Dow Jones Sustainability Index Fast Company Just Capital One of the 2026 World's DJSI World Index for Named to list of the World’s Most One
Slide 22: Near and long-term sustainability objectives
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Near and long-term sustainability objectives Progress key: Achieved Robust governance structures and processes In progress underpin our sustainability strategy Key issue Target Baseline End FY25 date d
Slide 23: Appendix
Q4 FY26 Appendix Executive Summary Portfolio Highlights FY26 Recap Guidance & Assumptions Impact Appendix Evolut FX+ TAVR System Earnings Report | Q4 FY26
Slide 24: Q4 FY26 GAAP to non-GAAP reconciliations
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Q4 FY26 GAAP to non-GAAP reconciliations Acquisition and (Gain) / Loss on Q4 FY26 Certain Tax Q4 FY26 Q4 FY25 Y/Y Growth / Amortization Restructuring Litigation Divestiture- Minority GAAP Adjustments N
Slide 25: FY26 GAAP to non-GAAP reconciliations
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix FY26 GAAP to non-GAAP reconciliations Acquisition and (Gain) / Loss on Certain Tax FY26 FY25 Y/Y Growth / FY26 GAAP Amortization Restructuring Litigation Divestiture- Minority Other Adjustments Non-GAA
Slide 26: Medtronic business structure
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Medtronic business structure Cardiovascular Neuroscience Medical Surgical Diabetes Other Cardiac Rhythm & Heart Failure Cranial & Spinal Technologies Surgical & Endoscopy Therapies and services for Inc
Slide 27: New Cardiovascular portfolio structure
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix New Cardiovascular portfolio structure Former structure Cardiovascular Cardiovascular Centering our business strategy and structure around customer call points Cardiac Rhythm & Heart Failure Division:
Slide 28: Abbreviations & acronyms
Executive Summary | Portfolio Highlights | FY26 Recap | Guidance & Assumptions | Impact | Appendix Abbreviations & acronyms Growth Business specific Business specific Other Generally Accepted Accounting CC Constant Currency Adj Adjusted IEP Integrated Embolic Protection GAAP Principles LSD Low-singl