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Lydia Garrett
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Our Vision 3M Technology Advancing Every Company 3M Products Enhancing

consultancy, Interbrand in 2012 Proud of the household names we have created with our

4 One Strong Brand, Complemented by Many Strategic Brands At 3M, we continually build on each other s ideas 3M named one of the Best 100 Global Brands by strategic brand consultancy, Interbrand in 2012 Proud of the household names we have created with our market-leading strategic brands Our strategic brands play an integral role in strengthening the 3M brand and allowing us to deliver tangible results that enable customer success to innovate unexpected solutions and make progress possible M. All Rights Reserved.

5 A history of world-class performance Performance 22% 11% 6% Earnings Per Share CAGR Sales CAGR Avg. ROIC Refer to 3M's Form 8-K dated January 24, 2013 for a discussion of non-gaap measures, including ROIC M. All Rights Reserved.

5B FY12 sales of $30B; operating income of

6 Outstanding market-leading, global businesses Industrial $9.9B Health Care $5.1B Consumer $4.4B Safety & Graphics $5.5B Electronics & Energy $5.5B FY12 sales of $30B; operating income of $6.5B; operating income margin of 22% M. All Rights Reserved.

7 Unparalleled global reach Canada Mexico Jamaica Dominican Republic Puerto Rico UK Denmark Germany Netherlands Norway Czech Republic Sweden Estonia Finland Latvia Lithuania Poland Switzerland Hungary Austria China Ukraine Russia Japan Romania Korea Hong Kong Guatemala Taiwan Philippines Costa Rica Trinidad & Tobago Colombia Brazil El Salvador Panama Ecuador Venezuela Chile Peru Argentina Spain Uruguay Portugal France Morocco Belgium Italy Greece Turkey South Africa Kenya Egypt Israel UAE Pakistan Kazakhstan India Sri Lanka Indonesia Vietnam Malaysia Australia FY12 sales split: U.S. 35%, APAC 30%, EEMEA 23%, LatAm/Canada 12% Thailand Singapore New Zealand Key Sales & Marketing Manufacturing/Converting Technical Capabilities M. All Rights Reserved.

Our technology platforms are powerful enablers for growth Ab Abrasives Bi Biotech Em Electronic Materials Pm Polymer Melt Processing Sm Specialty Materials Ac Acoustics Ce Ceramics Es Electronics

8 Our technology platforms are powerful enablers for growth Ab Abrasives Bi Biotech Em Electronic Materials Pm Polymer Melt Processing Sm Specialty Materials Ac Acoustics Ce Ceramics Es Electronics Software Nt Nanotechnology Po Porous Materials & Membranes Su Surface Modification Ad Adhesives Dd Drug Delivery Fc Flexible Converting & Packaging Mi Microbial Detection & Control Nw Nonwoven Materials Pp Precision Processing Tt Track and Trace Am Advanced Materials Di Display Fe Flexible Electronics Fs Filtration, Separation, Purification Is Integrated Systems & Design Me Metal Matrix Composites Mo Molding Op Optoelectronics Pr Process Design & Control Vp Vapor Processing An Analytical Do Dental & Orthodontic Materials Fi Films Im Imaging Lm Light Mgmt Mf Mechanical Fasteners Mr Microreplication Pd Particle & Dispersion Processing Rp Radiation Processing We Accelerated Weathering As Application Software Ec Energy Components Fl Fluoro-materials In Inspection & Measure-ment Md Medical Data Mgmt Pe Predictive Engineering & Modeling Se Sensors Wo Wound Mgmt Breadth and depth allow us to reinvigorate core markets and enter new ones M. All Rights Reserved.

Innovation is at the center of our plan New Product Vitality Index Leveraging broad and deep platforms Opens limitless market opportunities 33% 40% Sustains base level organic growth 25% Enables

9 Innovation is at the center of our plan New Product Vitality Index Leveraging broad and deep platforms Opens limitless market opportunities 33% 40% Sustains base level organic growth 25% Enables premium returns New Product Vitality Index (NPVI) = Sales from products introduced within past 5 years/ total sales 2008 Enhancing our focus on high-growth adjacencies and new markets E M. All Rights Reserved.

11 Risk Management Principles Purchase insurance for catastrophic losses Self insure expected and predictable losses within our insurance deductibles Emphasis on compliant insurance programs. We purchase local property and liability policies in over 65 countries facilitated through use of captive insurance companies Focus on loss prevention and loss mitigation Work with experienced brokers M. All Rights Reserved.

12 Captive Insurance Companies Seaside Established in Bermuda in 1972 Primary insurance programs - international liability & global transit Two Harbors Established in South Carolina in 2007 Primary insurance programs Global Property International Employee Benefits including Travel Accident M. All Rights Reserved.

13 Global Property & Casualty Programs Centralized programs Use fronting companies to issue local policies in over 65 countries Advantages Compliance Policy terms and conditions Flexibility Ability to have low local deductibles pool risk at captive Improved claims information Cost savings over local programs Centralized insurance expertise M. All Rights Reserved.

14 Property Program Policies issued to international subsidiaries by fronting insurance companies. Fronting companies reinsure with captive High local limits Captive issues direct policy to US parent Captive retains deductible Actuarial loss pick for captive retention Excess of deductible, captive reinsures to a panel of over 20 insurers Premiums based on values approved by fronting insurers M. All Rights Reserved.

15 Liability Program Policies issued to international subsidiaries by fronting insurance companies. Fronting companies reinsure with captive Captive retains losses within policy deductible Actuarial loss pick Global risk transfer program Premiums based on loss experience and sales M. All Rights Reserved.

16 Global Benefits Department Coordinating the global employee benefit needs for 3M Responsible for the design, review and approval of employee benefit plans North America 2 countries, 36,200 employees Europe/Middle East/Africa 35 countries, 17,200 employees Asia Pacific 15 countries, 12,500 employees Latin America 18 countries, 6,500 employees M. All Rights Reserved.

17 Insurance Benefits Covered under Captive Group Life Insurance Employer Funded Basic Employee Funded Optional Disability Short-term Long-term Permanent & Total (PTD) Medical Outpatient Care Major Medical/Hospitalization Dental/Vision Accidental Death & Dismemberment (AD&D) Business Travel Accident (BTA) M. All Rights Reserved. 3M All Rights Reserved.

18 3M s Move to Employee Benefits Captive Starting State: Multinational Pools Three pooling insurance providers No central knowledge base of benefit plans Lack of control Finance /HR Six Sigma Team HR Benefits approached Finance/Insurance on employee benefits captive idea HR/Finance Six Sigma team formed; outside consultant was also team member HR Global Benefits manages plan design and premium setting Finance/Insurance group manages captive admin and the funding Employee Benefits Captive 2007-present Three captive insurance providers 56 countries participating in program M. All Rights Reserved.

19 Why Change? Advantages of Captive Approach Cost savings to 3M due to reduced reliance on insurance companies to insure employee benefits risk Projected range of 5-15% (validated by peer companies)* Underwriting Control Evaluating risk, determining plan design, and setting premiums Improved timeliness of claims data to better manage benefit programs Centralized expertise for managing employee benefit insurance *Notes: Reduced subsidiary administration time for annual bidding/analysis/contract renewal process 1. Savings may vary by policy type, local insurance market conditions, broker usage, and claims experience. 2. Expenses and Risk charges will be reduced but not eliminated as captive providers will be administering policies and claims activities on a local level M. All Rights Reserved.

20 Captive Program Cooperation HR/Finance to working together Budgeting Process Medical costs increasing globally Medical premiums roughly half of total captive Manage medical spend through plan design/cost sharing European Pension plans Risk benefits tied into pension plans M. All Rights Reserved.

21 Key Learnings Communication at local level is key Strong centralized control is helpful Insurers and reinsurance agreements are different Savings/cash flow greater than anticipated M. All Rights Reserved. 3M All Rights Reserved.

EQUITY REPORTING & WITHHOLDING. Updated May 2016

EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the