What changed in this filing

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Item 1. Financial Statements

2025-10-21 compared with 2025-07-18 · 384 added, 289 removed, 1392 unchanged (33% of the section changed)

3 unchanged sentences

Three months ended

June 30, Six months ended

September 30, Nine months ended

September 30,

(Millions, except per share amounts) 2025 2024 2025 2024

21 unchanged sentences

834 1,372 2,673 3,281

Net income (loss) from discontinued operations, net of taxes

— ( 59 ) — 164

Net income from discontinued operations, net of taxes

Net income attributable to 3M

4 unchanged sentences

$ 1.56 $ 2.49 $ 4.97 $ 5.93

Earnings (loss) per share from discontinued operations — basic

— ( 0.10 ) — 0.30

Earnings per share from discontinued operations — basic

Earnings per share — basic

3 unchanged sentences

$ 1.55 $ 2.48 $ 4.93 $ 5.92

Earnings (loss) per share from discontinued operations — diluted

— ( 0.10 ) — 0.29

Earnings per share from discontinued operations — diluted

Earnings per share — diluted

4 unchanged sentences

Three months ended

June 30, Six months ended

September 30, Nine months ended

September 30,

(Millions) 2025 2024 2025 2024

18 unchanged sentences

Consolidated Balance Sheet

(Dollars in millions, except per share amount) June 30, 2025 December 31, 2024

(Dollars in millions, except per share amount) September 30, 2025 December 31, 2024

Current assets

7 unchanged sentences

Prepaids 514 493

Assets held for sale 44 —

Other current assets 2,673 771

2 unchanged sentences

accumulated depreciation ( 16,684 ) ( 16,018 )

( 16,725 ) ( 16,018 )

Property, plant and equipment — net 7,247 7,388

10 unchanged sentences

Operating lease liabilities — current 174 163

Liabilities held for sale 54 —

Other current liabilities 4,029 5,471

9 unchanged sentences

944,033,056 shares issued

Shares outstanding - June 30, 2025:

Shares outstanding - September 30, 2025:

531,225,048 , December 31, 2024:

3 unchanged sentences

( 35,759 ) ( 34,462 )

Shares at June 30, 2025:

Shares at September 30, 2025:

412,808,008 , December 31, 2024:

7 unchanged sentences

Consolidated Statement of Cash Flows 1

Six months ended June 30,

Nine months ended September 30,

(Millions) 2025 2024

1 unchanged sentence

Net income including noncontrolling interest $ 2,688 $ 3,460

$ 1,847 $ 2,084

Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities

31 unchanged sentences

Effect of exchange rate changes on cash and cash equivalents 36 ( 2 )

Net increase (decrease) in cash and cash equivalents, including cash classified within assets held for sale ( 885 ) 117

net increase (decrease) in cash classified within assets held for sale

Net increase (decrease) in cash and cash equivalents

13 unchanged sentences

Certain amounts in prior periods’ consolidated financial statements have been reclassified to conform to current period presentation.

As discussed in Note 1 to the Consolidated Financial Statements in 3M's 2024 Annual Report on Form 10-K, 3M invests in marketable and equity securities.

Equity securities mainly consist of 3M’s ownership interest in Solventum, which was classified as a current equity investment (part of other current assets) in the third quarter of 2025.

Classification as current or non-current is based on availability for use in current operations.

New Accounting Pronouncements:

Refer to Note 1 to the Consolidated Financial Statements in 3M's 2024 Annual Report on Form 10-K for a discussion of applicable standards issued and not yet adopted by 3M.

Relevant New Standards Issued Subsequent to Most Recent Annual Report

In July 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No.

2025-05, Financial Instruments – Credit Losses (Topic 326):

Measurement of Credit Losses for Accounts Receivable and Contract Assets The ASU provides an optional practical expedient for estimating future credit losses based on current conditions as of the balance sheet date and assuming those conditions do not change over the remaining life of the accounts receivable.

For 3M, this standard is effective January 1, 2026.

3M does not expect this ASU to have a material impact on consolidated results of operations and financial condition.

In September 2025, the FASB issued ASU No.

2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40):

Targeted Improvements to the Accounting for Internal-Use Software.

The ASU removes references to prescriptive software development stages and includes an updated framework for capitalizing internal software costs.

For 3M, this standard is effective January 1, 2028.

3M is currently evaluating this ASU's impact on consolidated results of operations and financial condition.

Discontinued Operations

3 unchanged sentences

3M continuing involvement with Solventum in the form of net sales under supply agreements and income from transition agreements is reflected in amounts disclosed in "Corporate and Other" in Note 19, recorded as net sales and associated costs and recorded as a direct offset to associated costs within selling, general and administrative expenses, respectively.

Solventum transition agreement income for the three and six and months ended June 30, 2025 was approximately $ 40 million and $ 90 million, respectively (approximately $ 0.2 billion and $ 0.4 billion gross fees, net of assigned costs, respectively).

Solventum transition agreement income for the three and six months ended June 30, 2024 was approximately $ 30 million (approximately $ 0.2 billion gross fees, net of assigned costs).

Solventum transition agreement income for the three and nine and months ended September 30, 2025 was approximately $ 30 million and $ 120 million, respectively (approximately $ 0.2 billion and $ 0.6 billion gross fees, net of assigned costs, respectively).

Solventum transition agreement income for the three and nine months ended September 30, 2024 was approximately $ 5 million and $ 40 million, respectively, (approximately $ 0.2 billion and $ 0.4 billion gross fees, net of assigned costs, respectively).

Transition services or purchases from Solventum are not material to 3M.

Amounts due from Solventum and amounts due to Solventum under the agreements referenced above were approximately $ 0.4 billion and $ 0.2 billion, respectively, as of June 30, 2025 and as of December 31, 2024.

Amounts due from Solventum and amounts due to Solventum under the agreements referenced above were approximately $ 0.4 billion and $ 0.2 billion, respectively, as of September 30, 2025 and as of December 31, 2024.

Information regarding net income from discontinued operations, net of taxes includes the following:

Net income (loss) from discontinued operations, net of taxes (millions)

Three months ended June 30, 2024 Six months ended June 30, 2024

Net income from discontinued operations, net of taxes (millions)

Nine months ended

September 30, 2024

Cost of sales 844

1 unchanged sentence

Other expense (income), net

Income (loss) from discontinued operations before income taxes

Income from discontinued operations before income taxes

Provision for income taxes 98

Net income (loss) from discontinued operations, net of taxes

$ ( 59 ) $ 164

Net income from discontinued operations, net of taxes

Cash flows related to discontinued operations have not been segregated, and are included in the Consolidated Statement of Cash Flows for all periods presented.

1 unchanged sentence

Selected cash flow information from discontinued operations (millions)

Six months ended June 30, 2024

Nine months ended

September 30, 2024

Depreciation and amortization $ 139

2 unchanged sentences

The Company views the following disaggregated disclosures as useful to understanding the composition of revenue recognized during the respective reporting periods:

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

Net sales (millions)

27 unchanged sentences

$ 6,517 $ 6,294 $ 18,815 $ 18,565

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

Net sales by geographic area (millions)

4 unchanged sentences

Worldwide $ 6,517 $ 6,294 $ 18,815 $ 18,565

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

Net sales by particular country (billions)

6 unchanged sentences

In June 2025, 3M completed the sale of its fused silica business, formerly part of the Transportation and Electronics business, for immaterial proceeds slightly below the business's book value.

In September 2025, 3M agreed to sell its precision grinding and finishing business, within the Safety and Industrial business.

The transaction is expected to close in the first half of 2026, subject to customary closing conditions.

In the third quarter of 2025, this business was classified as held for sale and 3M recorded a pre-tax charge of $ 161 million for the excess of its carrying value over its selling price less cost to sell.

Selling price does not involve proceeds, but a balance of cash, subject to closing and other adjustments, is to be left in the transferring business.

This charge was reported within Corporate and Other and reflected in loss on business divestitures on the consolidated statement of income.

The business has annual sales of approximately $ 130 million and its operating income, which does not include the charge reflected in Corporate and Other, was not material.

The below summarizes the carrying amounts of the major classes of assets and liabilities classified as held for sale in the consolidated balance sheet:

(millions) September 30, 2025

Assets held for sale

Cash and cash equivalents $ 44

Inventories 28

Property, plant and equipment — net 96

Other assets 23

Valuation allowance on assets held for sale ( 147 )

Total assets held for sale $ 44

Liabilities held for sale

Pension and postretirement benefits ( 23 )

Other liabilities ( 17 )

Valuation allowance on liabilities held for sale ( 14 )

Total liabilities held for sale $ ( 54 )

Goodwill and Intangible Assets

The change in the carrying amount of goodwill by business segment was as follows:

(Millions) Safety and Industrial Transportation and Electronics Consumer Corporate and Other

Total company

(Millions) Safety and Industrial Transportation and Electronics Consumer Corporate and Other Total company

Balance as of December 31, 2024 4,469 1,496 258 58 6,281

Translation and other 94 30 11 — 135

Balance as of June 30, 2025 $ 4,573 $ 1,531 $ 271 $ 58 $ 6,433

Balance as of September 30, 2025 $ 4,563 $ 1,526 $ 269 $ 58 $ 6,416

The amounts in the “Translation and other” row in the above table primarily relate to changes in foreign currency exchange rates.

As of June 30, 2025, the Company's accumulated goodwill impairment loss is $ 0.3 billion.

As of September 30, 2025, the Company's accumulated goodwill impairment loss is $ 0.3 billion.

Acquired Intangible Assets:

The carrying amount and accumulated amortization of acquired finite-lived intangible assets, in addition to the balance of non-amortizable intangible assets follow:

(Millions) June 30, 2025 December 31, 2024

(Millions) September 30, 2025 December 31, 2024

Customer related $ 1,237 $ 1,319

14 unchanged sentences

Amortization expense follows:

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

(Millions) 2025 2024 2025 2024

Amortization expense $ 26 $ 26 $ 78 $ 80

Expected amortization expense for acquired amortizable intangible assets recorded as of June 30, 2025 follows:

Expected amortization expense for acquired amortizable intangible assets recorded as of September 30, 2025 follows:

(Millions) Remainder of 2025

3 unchanged sentences

Restructuring Actions

Transformation Costs:

In the third quarter of 2025, management approved and committed to undertake initial restructuring actions associated with 3M's transformation program, intended as a structural redesign of longer-term manufacturing, distribution, and business process services and locations.

Associated pre-tax restructuring charges in the third quarter of 2025, primarily asset-related charges, were $ 12 million, reflected in Corporate and Other and primarily included in cost of sales.

Additional actions are expected and are subject to management's future approval and commitment.

2023 to 2025 Structural Reorganization Actions:

In 2023, 3M announced it would undertake structural reorganization actions to reduce the size of the corporate center of the Company, simplify supply chain, streamline 3M’s geographic footprint, reduce layers of management, further align business go-to-market models to customers, and reduce manufacturing roles to align with production volumes.

This aggregate initiative, beginning in the first quarter of 2023 and continuing through 2025, is expected (as updated to exclude discontinued operations) to impact approximately 8,000 positions worldwide.

During 2024, management approved and committed to undertake additional actions under this initiative impacting approximately 1,100 positions and other actions resulting in a pre-tax charge of $ 187 million, the relevant portion of which relating to the second quarter and first six months are indicated in the table below.

In the first six months of 2025, management approved and committed to undertake additional actions resulting in a pre-tax charge as indicated in the table below.

Since its beginning in 2023 through committed second quarter 2025 actions, this initiative impacted approximately 6,900 positions worldwide.

Remaining activities related to the restructuring actions approved and committed through June 30, 2025 under this initiative are expected to be largely completed in 2025.

Remaining actions 3M may commit to under this initiative are not expected to be material.

In 2023, 3M announced it would undertake structural reorganization actions to reduce the size of the corporate center of the Company, simplify the supply chain, streamline 3M’s geographic footprint, reduce layers of management, further align business go-to-market models to customers, and reduce manufacturing roles to align with production volumes.

This initiative, beginning in the first quarter of 2023 and ending largely in the second quarter of 2025, impacted approximately seven thousand positions worldwide (as updated to exclude discontinued operations).

During 2024, management approved and committed to undertake additional actions under this initiative impacting approximately one thousand positions and other actions resulting in a pre-tax charge of $ 187 million, the relevant portion of which relating to the third quarter and first nine months are indicated in the table below.

In the first nine months of 2025, management approved and committed to undertake additional actions resulting in a pre-tax charge as indicated in the table below.

Remaining activities related to approved and committed actions are expected to be largely completed in 2025.

The related restructuring charges for periods presented were recorded in the income statement as follows:

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

(Millions) 2024 2025 2024

4 unchanged sentences

The business segment operating income impact of these restructuring charges is summarized as follows:

Three months ended June 30,

(Millions) Employee related

Employee related

Asset-related and other

Three months ended September 30,

(Millions) Employee related Asset-related and other Total

Safety and Industrial $ 15 $ 3 $ 18

2 unchanged sentences

Total operating expense $ 27 $ 13 $ 40

Six months ended June 30,

Nine months ended September 30,

(Millions) Employee Related Employee Related Asset-Related and Other Total

9 unchanged sentences

Incremental expense incurred in the second quarter of 2025 8

Adjustments ( 12 )

Cash payments ( 65 )

Accrued restructuring action balance as of June 30, 2025

Accrued restructuring action balance as of September 30, 2025

2023 to 2025 PFAS Exit Restructuring Actions:

3M announced in 2022 that it will exit all PFAS manufacturing by the end of 2025 and began related workforce actions in 2023.

In the first six months of 2024, management approved and committed to undertake actions resulting in an immaterial pre-tax charge.

During the first six months of 2025, such actions resulted in a pre-tax charge as indicated in the table below.

In the first nine months of 2024, management approved and committed to undertake actions resulting in an immaterial pre-tax charge.

During the first nine months of 2025, such actions resulted in a pre-tax charge as indicated in the table below.

These charges were reflected within the Transportation and Electronics business segment and primarily impacted cost of sales and selling, general and administrative expenses.

4 unchanged sentences

Incremental expense incurred in the second quarter of 2025 4

Adjustments ( 8 )

Cash payments ( 35 )

Accrued restructuring action balance as of June 30, 2025

Accrued restructuring action balance as of September 30, 2025

Supplemental Income Statement Information

Other expense (income), net consists of the following:

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

(Millions) 2025 2024 2025 2024

3 unchanged sentences

Pension and postretirement net periodic benefit cost (benefit) 3

23 796 51 785

Solventum ownership - change in value 4

3 unchanged sentences

Interest expense in the table above also includes imputed interest associated with the obligations resulting from the PWS Settlement, New Jersey Settlement, and CAE Settlement (all discussed in Note 17).

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

(Millions) 2025 2024 2025 2024

5 unchanged sentences

Solventum separated from 3M in April 2024 (discussed in Note 2).

As of June 30, 2025, the balance of unrealized gain on this investment was $ 1.9 billion.

As of September 30, 2025, the balance of unrealized gain on this investment was $ 1.3 billion.

Supplemental Equity and Comprehensive Income Information

Cash dividends declared and paid totaled $ 0.73 per share for each of the first and second quarters of 2025 and $ 1.51 and $ 0.70 per share for the first and second quarters of 2024, respectively, or $ 1.46 and $ 2.21 per share for the first six months of 2025 and 2024, respectively.

The table below presents the consolidated changes in equity for three and six months ended June 30, 2025 and 2024:

Cash dividends declared and paid totaled $ 0.73 per share for each of the first, second, and third quarters of 2025 and $ 1.51 for the first quarter of 2024 and $ 0.70 per share for the second and third quarters of 2024, respectively, or $ 2.19 and $ 2.91 per share for the first nine months of 2025 and 2024, respectively.

The table below presents the consolidated changes in equity for three and nine months ended September 30, 2025 and 2024:

3M Company Shareholders Non-controlling interest

(Millions) Total Common stock and additional paid-in capital

Retained earnings

Treasury stock

Accumulated other comprehensive income (loss)

Balance at March 31, 2025

(Millions) Total Common stock and additional paid-in capital Retained earnings Treasury stock Accumulated other comprehensive income (loss)

Balance at June 30, 2025

$ 4,351 $ 7,354 $ 37,693 $ ( 35,542 ) $ ( 5,215 ) $ 61

1 unchanged sentence

Other comprehensive income (loss), net of tax 89 93 ( 4 )

Solventum spin-off ( 3 ) ( 14 ) 11

Dividends declared ( 389 ) ( 389 )

Purchase of non-controlling interest — — —

Stock-based compensation 52 52

Reacquired stock ( 473 ) ( 473 )

Dividend to noncontrolling interest ( 17 ) ( 17 )

Issuances pursuant to stock option and benefit plans 221 ( 35 ) 256

Balance at June 30, 2025

Balance at September 30, 2025

$ 4,675 $ 7,406 $ 38,103 $ ( 35,759 ) $ ( 5,122 ) $ 47

Balance at March 31, 2024

Balance at June 30, 2024

$ 3,988 $ 7,155 $ 35,475 $ ( 33,147 ) $ ( 5,567 ) $ 72

5 unchanged sentences

Reacquired stock ( 684 ) ( 684 )

Dividend to non controlling interest ( 23 ) ( 23 )

Issuances pursuant to stock option and benefit plans 38 ( 9 ) 47

Balance at June 30, 2024

Balance at September 30, 2024

$ 4,694 $ 7,191 $ 36,459 $ ( 33,784 ) $ ( 5,224 ) $ 52

1 unchanged sentence

$ 3,894 $ 7,238 $ 36,797 $ ( 34,462 ) $ ( 5,731 ) $ 52

Net income 2,688 2,673 15

Other comprehensive income (loss), net of tax 594 598 ( 4 )

4 unchanged sentences

Reacquired stock ( 2,694 ) ( 2,694 )

Dividend to noncontrolling interest ( 17 ) ( 17 )

Issuances pursuant to stock option and benefit plans 1,219 ( 178 ) 1,397

Balance at June 30, 2025 $ 4,351 $ 7,354 $ 37,693 $ ( 35,542 ) $ ( 5,215 ) $ 61

Balance at September 30, 2025

$ 4,675 $ 7,406 $ 38,103 $ ( 35,759 ) $ ( 5,122 ) $ 47

Balance at December 31, 2023

$ 4,868 $ 6,965 $ 37,479 $ ( 32,859 ) $ ( 6,778 ) $ 61

Net income 3,460 3,445 15

4 unchanged sentences

Reacquired stock ( 1,105 ) ( 1,105 )

Dividend to noncontrolling interest ( 23 ) ( 23 )

Issuances pursuant to stock option and benefit plans 68 ( 112 ) 180

Balance at June 30, 2024 $ 3,988 $ 7,155 $ 35,475 $ ( 33,147 ) $ ( 5,567 ) $ 72

The table below presents the changes in accumulated other comprehensive income (loss) attributable to 3M (AOCI), including the reclassifications out of AOCI by component for the three and six months ended June 30, 2025 and 2024:

Balance at September 30, 2024 $ 4,694 $ 7,191 $ 36,459 $ ( 33,784 ) $ ( 5,224 ) $ 52

(Millions) Cumulative translation adjustment

2 unchanged sentences

Total accumulated other comprehensive income (loss)

Balance at March 31, 2025, net of tax:

Balance at June 30, 2025, net of tax:

$ ( 2,443 ) $ ( 2,645 ) $ ( 127 ) $ ( 5,215 )

5 unchanged sentences

Total other comprehensive income (loss), net of tax ( 67 ) 139 21 93

Solventum spin-off — 11 — 11

Balance at June 30, 2025, net of tax:

Balance at September 30, 2025, net of tax:

$ ( 2,510 ) $ ( 2,506 ) $ ( 106 ) $ ( 5,122 )

Balance at March 31, 2024, net of tax:

Balance at June 30, 2024, net of tax:

$ ( 2,795 ) $ ( 2,737 ) $ ( 35 ) $ ( 5,567 )

5 unchanged sentences

Total other comprehensive income (loss), net of tax 369 48 ( 74 ) 343

Solventum spin-off 64 520 — 584

Balance at June 30, 2024, net of tax:

Balance at September 30, 2024, net of tax:

$ ( 2,426 ) $ ( 2,689 ) $ ( 109 ) $ ( 5,224 )

8 unchanged sentences

Solventum spin-off — 11 — 11

Balance at June 30, 2025, net of tax:

Balance at September 30, 2025, net of tax:

$ ( 2,510 ) $ ( 2,506 ) $ ( 106 ) $ ( 5,122 )

8 unchanged sentences

Solventum spin-off 64 520 — 584

Balance at June 30, 2024, net of tax:

Balance at September 30, 2024, net of tax:

$ ( 2,426 ) $ ( 2,689 ) $ ( 109 ) $ ( 5,224 )

5 Includes tax expense (benefit) reclassified out of AOCI related to the following:

Three months ended June 30, Six months ended June 30,

2025 2024 2025 2024

Three months ended September 30, Nine months ended September 30,

(Millions) 2025 2024 2025 2024

Cumulative translation adjustment $ — $ — $ — $ —

$ — $ — $ — $ —

Defined benefit pension and postretirement plans adjustment ( 17 ) ( 14 ) ( 52 ) ( 243 )

2 unchanged sentences

The Company uses the portfolio approach for releasing income tax effects from accumulated other comprehensive income.

Additional details on the amounts reclassified from accumulated other comprehensive income (loss) into consolidated income (loss) include:

Additional details on the amounts reclassified from accumulated other comprehensive income (loss) into consolidated income include:

• Cumulative translation adjustment:

7 unchanged sentences

The effective tax rates were as follows:

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

(Percent of pre-tax income) 2025 2024 2025 2024

Effective tax rate 26.8 % 20.3 % 23.7 % 19.0 %

The primary factors that increased the Company's effective tax rate for the three and six months ending June 30, 2025, when compared to 2024, were the tax effect of the change in value of 3M's retained ownership interest in Solventum and application of Pillar Two Model Rules published by the Organization for Economic Cooperation and Development (OECD).

These were partially offset by the 2024 charge related to the Company's change in assertion on earnings no longer considered permanently reinvested.

The primary factors that increased the Company's effective tax rate for the three months ended September 30, 2025, when compared to 2024, were the tax impacts of:

3M's retained ownership interest in Solventum, Pillar Two Model Rules, and the loss on business divestiture, partially offset by net costs of significant litigation.

The primary factors that increased the Company's effective tax rate for the nine months ended September 30, 2025, when compared to 2024, were the tax impact of:

3M's retained ownership interest in Solventum and Pillar Two Model Rules, partially offset by net costs of significant litigation.

Net deferred tax assets (net of valuation allowance and deferred tax liabilities) are included as components of other assets and other liabilities within the Consolidated Balance Sheet.

This net balance was the following:

June 30, 2025 December 31, 2024

(Billions) September 30, 2025 December 31, 2024

Net deferred tax assets $ 3.6 $ 3.8

1 unchanged sentence

The computations for basic and diluted earnings per share follow:

Three months ended June 30, Six months ended June 30,

Three months ended

September 30, Nine months ended

September 30,

(Amounts in millions, except per share amounts) 2025 2024 2025 2024

Net income from continuing operations attributable to 3M $ 834 $ 1,372 $ 2,673 $ 3,281

Net income (loss) from discontinued operations, net of taxes — ( 59 ) — 164

Net income from discontinued operations, net of taxes

Net income attributable to 3M $ 834 $ 1,372 $ 2,673 $ 3,445

2 unchanged sentences

Dilution associated with stock-based compensation plans 4.0 2.1 3.7 1.4

3.2 1.0 3.6 0.9

Weighted average 3M common shares outstanding – diluted

2 unchanged sentences

Earnings per share from continuing operations — basic $ 1.56 $ 2.49 $ 4.97 $ 5.93

Earnings (loss) per share from discontinued operations — basic — ( 0.10 ) — 0.30

Earnings per share from discontinued operations — basic

Earnings per share — basic $ 1.56 $ 2.49 $ 4.97 $ 6.23

Earnings per share from continuing operations — diluted $ 1.55 $ 2.48 $ 4.93 $ 5.92

Earnings (loss) per share from discontinued operations — diluted — ( 0.10 ) — 0.29

Earnings per share from discontinued operations — diluted

Earnings per share — diluted $ 1.55 $ 2.48 $ 4.93 $ 6.21

1 unchanged sentence

Certain awards outstanding below under these stock-based compensation plans were not included in the computation of diluted earnings per share attributable to 3M common shareholders because they would have had an anti-dilutive effect.

Three months ended June 30, Six months ended June 30,

Three months ended

September 30, Nine months ended

September 30,

2025 2024 2025 2024

4 unchanged sentences

The following is a summary of amounts recorded on the Consolidated Balance Sheet for marketable securities (current and non-current).

(Millions) June 30, 2025 December 31, 2024

(Millions) September 30, 2025 December 31, 2024

Asset backed securities

10 unchanged sentences

Total marketable securities $ 533 $ 2,144

At June 30, 2025 and December 31, 2024, gross unrealized, gross realized, and net realized gains and/or losses (pre-tax) were not material.

The balances at June 30, 2025 for marketable securities by contractual maturity are shown below.

At September 30, 2025 and December 31, 2024, gross unrealized, gross realized, and net realized gains and/or losses (pre-tax) were not material.

The balances at September 30, 2025 for marketable securities by contractual maturity are shown below.

Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

5 unchanged sentences

The Consolidated Statements of Cash Flows include the results of continuing and discontinued operations and, therefore, information regarding similar debt-related activity for 2024 includes activity associated with Solventum through its April 2024 Separation.

The Company had no commercial paper outstanding at June 30, 2025 and December 31, 2024.

In the first and second quarter of 2025, 3M repaid $ 750 million and $ 500 million, respectively, in aggregate principal amount of fixed rate unsecured notes that matured.

The Company had no commercial paper outstanding at September 30, 2025 and December 31, 2024.

In the third quarter and first nine months of 2025, 3M repaid $ 0.6 billion and $ 1.8 billion respectively, in aggregate principal amount of primarily fixed-rate unsecured notes that matured.

In the first quarter of 2025, 3M issued $ 1.1 billion aggregate principal amount of fixed rate unsecured notes.

These were comprised of $ 550 million of 5-year notes due 2030 with a coupon rate of 4.80 % and $ 550 million of 10-year notes due 2035 with a coupon rate of 5.15 %.

In 2021, 3M entered into interest rate swaps with an aggregate notional amount of $ 800 million that converted $ 500 million and $ 300 million of 3M’s $ 1 billion and $ 650 million principal amount of fixed rate notes due in 2049 and 2050, respectively, into floating rate debt, based on a SOFR index (as subsequently amended) for the portion of their terms through mid-2028.

During the third quarter of 2025, 3M terminated half of these fixed-to-floating interest rate swaps, returning $ 400 million of notes due in 2049 to fixed-rate debt.

At the time of termination, a cumulative basis adjustment of $ 25 million related to the terminated swaps existed on the carrying value of these notes and will be amortized as interest expense over their remaining term.

Future Maturities of Long-term Debt:

Maturities of long-term debt in the table below reflect the impact of put provisions associated with certain debt instruments and are net of items such as unamortized debt issue costs such that total maturities equal the carrying value of long-term debt as of June 30, 2025.

The maturities of long-term debt for the periods subsequent to June 30, 2025 are as follows (in millions):

The maturities of long-term debt for the periods subsequent to September 30, 2025 are as follows (in millions):

Remainder of 2025

7 unchanged sentences

Effective April 1, 2024, approximately $ 2.7 billion of benefit obligations and $ 2.4 billion of plan assets for certain pension and postretirement benefit plans, were transferred to Solventum, which is treated as a discontinued operation.

Components of net periodic benefit cost and other supplemental information for the three and six months ended June 30, 2025 and 2024 follow:

Qualified and non-qualified pension benefits

Postretirement benefits

Components of net periodic benefit cost and other supplemental information for the three and nine months ended September 30, 2025 and 2024 follow:

Qualified and non-qualified pension benefits Postretirement benefits

United States International

Three months ended June 30,

Three months ended September 30,

Net periodic benefit cost (benefit) (millions) 2025 2024 2025 2024 2025 2024

2025 2024 2025 2024 2025 2024

Operating expense

9 unchanged sentences

Total net periodic benefit cost (benefit) $ 61 $ 59 $ ( 7 ) $ ( 13 ) $ 9 $ 9

Six months ended June 30,

Nine months ended September 30,

2025 2024 2025 2024 2025 2024

19 unchanged sentences

Total net periodic benefit cost (benefit) $ 183 $ 958 $ ( 17 ) $ ( 33 ) $ 32 $ 28

For the six months ended June 30, 2025 contributions totaling $ 55 million were made to the Company’s U.S.

For the nine months ended September 30, 2025, contributions totaling $ 89 million were made to the Company’s U.S.

and international pension plans and $ 10 million to its postretirement plans.

1 unchanged sentence

3M’s annual measurement date for pension and postretirement assets and liabilities is December 31 each year, which is also the date used for the related annual measurement assumptions.

In the third quarter of 2025, 3M modified the postretirement health care plan in the U.S.

that provides a savings account-based benefit to eligible retirees who were employed prior to January 1, 2016.

Beginning in 2026, contributions provided by 3M to the health savings accounts will no longer be increased each year by a notional rate.

The modification required remeasurement of the plan in the third quarter of 2025, resulting in a decrease of approximately $ 110 million in the non-current liability for pension and postretirement benefits (and corresponding decrease in accumulated comprehensive loss, before deferred taxes).

As of March 31, 2024, 3M transferred eligible U.S.

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Separately, the banks may have arrangements with the suppliers that provide them the option to request early payment from the banks for invoices confirmed by 3M.

3M's outstanding balances of confirmed invoices in the programs as of June 30, 2025 and December 31, 2024 were approximately $ 0.3 billion.

3M's outstanding balances of confirmed invoices in the programs as of September 30, 2025 and December 31, 2024 were approximately $ 0.3 billion.

These amounts are included within accounts payable on 3M's consolidated balance sheet.

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Cash Flow Hedges:

As of June 30, 2025, the Company had a balance of $ 127 million associated with the after-tax net unrealized loss associated with cash flow hedging instruments recorded in accumulated other comprehensive income (loss).

As of September 30, 2025, the Company had a balance of $ 106 million associated with the after-tax net unrealized loss associated with cash flow hedging instruments recorded in accumulated other comprehensive income (loss).

This includes a remaining balance of $ 75 million (after-tax loss) related to forward starting interest rate swap and treasury rate lock contracts terminated in 2019 concurrent with associated debt issuances, which is being amortized over the respective lives of the underlying notes.

Based on exchange rates as of June 30, 2025, of the total after-tax net unrealized balance as of June 30, 2025, 3M expects to reclassify approximately $ 29 million after-tax net unrealized loss over the next 12 months (with the impact offset by earnings/losses from underlying hedged items).

Based on exchange rates as of September 30, 2025, of the total after-tax net unrealized balance as of September 30, 2025, 3M expects to reclassify approximately $ 22 million after-tax net unrealized loss over the next 12 months (with the impact offset by earnings/losses from underlying hedged items).

The amount of pretax gain (loss) recognized in other comprehensive income (loss) related to derivative instruments designated as cash flow hedges is provided in the following table.

Pretax gain (loss) recognized in other comprehensive income (loss) on derivative

Three months ended June 30, Six months ended June 30,

Pretax gain (loss) recognized in other comprehensive income (loss) on derivatives

Three months ended September 30, Nine months ended September 30,

(Millions) 2025 2024 2025 2024

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Fair Value Hedges:

As further discussed in Note 12, during the third quarter of 2025, 3M terminated half of the fixed-to-floating interest rate swaps that were entered into in 2021, returning $ 400 million of notes due in 2049 to fixed-rate debt.

The following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustments for active fair value hedges, as well as remaining amounts for discontinued fair value hedges:

Carrying value of the hedged (and formerly hedged) liabilities

Cumulative amount of fair value hedging adjustment included in carrying value of the hedged (and formerly hedged) liabilities

Location on the consolidated balance sheet (millions)

June 30, 2025 December 31, 2024 June 30, 2025 December 31, 2024

Carrying value of the hedged (and formerly hedged) liabilities Cumulative amount of fair value hedging adjustment included in carrying value of hedged liabilities for

Location on the consolidated balance sheet (millions) Active hedges Discontinued hedges

September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024

Long-term debt $ 956 $ 924 $ ( 24 ) $ ( 81 ) $ ( 23 ) $ 2

Net Investment Hedges:

At June 30, 2025, 3M has a principal amount of long-term debt instruments designated in net investment hedges totaling 1.8 billion euros, in addition to the gross notional amount of foreign exchange forward/option contracts and cross-currency swaps designated in net investment hedges included in the totals within the "Location, Fair Value, and Gross Notional Amounts of Derivative Instruments" table further below.

In the first quarter of 2025, 3M expanded its net investment hedge activity by entering into cross-currency swaps with a gross notional value at inception of $ 1.1 billion ($ 550 million with tenor to 2030 and $ 550 million with tenor to 2035) designated in hedges of portions of its net investment in international subsidiaries.

At September 30, 2025, 3M has a principal amount of long-term debt instruments designated in net investment hedges totaling 1.8 billion euros, in addition to the gross notional amount of foreign exchange forward/option contracts and cross-currency swaps designated in net investment hedges included in the totals within the "Location, Fair Value, and Gross Notional Amounts of Derivative Instruments" table further below.

During 2025, 3M expanded its net investment hedge activity primarily by entering into cross-currency swaps with a gross notional value at inception of $ 1.1 billion ($ 550 million with tenor to 2030 and $ 550 million with tenor to 2035) designated in hedges of portions of its net investment in international subsidiaries.

The amount of gain (loss) excluded from effectiveness testing recognized in income relative to instruments designated in net investment hedge relationships is not material.

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Pretax gain (loss) recognized as cumulative translation within other comprehensive income (loss)

Three months ended June 30, Six months ended June 30,

Three months ended

September 30, Nine months ended

September 30,

(Millions) 2025 2024 2025 2024

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Location and amount of gain (loss) recognized in income

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

Cost of sales Other expense (income), net Cost of sales Other expense (income), net

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Location Fair value amount

June 30, 2025 December 31, 2024 June 30, 2025 December 31, 2024 June 30, 2025 December 31, 2024

September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024

Derivatives designated as hedging instruments

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(Millions) Gross Amount of Derivative Assets Presented in the Consolidated Balance Sheet Gross Amount of Eligible Offsetting Recognized Derivative Liabilities Net Amount of Derivative Assets

September 30,

2025 December 31,

2024 June 30,

2024 September 30,

2025 December 31,

2024 June 30,

2024 September 30,

2025 December 31,

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(Millions) Gross Amount of Derivative Liabilities Presented in the Consolidated Balance Sheet Gross Amount of Eligible Offsetting Recognized Derivative Assets Net Amount of Derivative Liabilities

September 30,

2025 December 31,

2024 June 30,

2024 September 30,

2025 December 31,

2024 June 30,

2024 September 30,

2025 December 31,

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3M estimates that year-on-year foreign currency transaction effects, including hedging impacts, approximately impacted pre-tax income as follows:

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended

September 30,

(Millions) 2025 2024 2025 2024

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Refer to Note 18 to the Consolidated Financial Statements in 3M's 2024 Annual Report on Form 10-K for a qualitative discussion of the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis, a description of the valuation methodologies used by 3M, and categorization within the valuation framework of ASC 820.

The following table provides information by level for material assets and liabilities that are measured at fair value on a recurring basis at June 30, 2025 and December 31, 2024.

Fair value at

Fair value measurements using inputs considered as

The following table provides information by level for material assets and liabilities that are measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024.

Fair value at Fair value measurements using inputs considered as

Level 1 Level 2 Level 3

June 30, 2025 December 31, 2024 June 30, 2025 December 31, 2024 June 30, 2025 December 31, 2024 June 30, 2025 December 31, 2024

(Millions) September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024

Available-for-sale marketable securities:

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Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis:

3M had no material measurements at fair value on a nonrecurring basis of applicable assets or liabilities for the second quarter and first six months of 2025 and 2024.

Other than the below, 3M had no material measurements at fair value on a nonrecurring basis of applicable assets or liabilities for the third quarter and first nine months of 2025 and 2024.

In the third quarter of 2025, 3M's precision grinding and finishing business was classified as held for sale and written down to its fair value less costs to sell.

Fair value was determined based upon terms of the underlying agreement entered into to sell the business.

The disposal group continues to be similarly valued until the close of the transaction.

See Note 4 for additional information on the disposal group.

Fair Value of Financial Instruments :

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Information with respect to the carrying amounts and estimated fair values of these financial instruments follow:

June 30, 2025 December 31, 2024

September 30, 2025 December 31, 2024

(Millions) Carrying value

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environmental, health and safety;

employment and employee benefits;

the Foreign Corrupt Practices Act (FCPA) and other anti-bribery and anti-corruption laws;

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Respirator Mask/Asbestos Litigation:

As of June 30, 2025, the Company is a named defendant, with multiple co-defendants, in numerous lawsuits in various courts that purport to represent approximately 3,500 individual claimants, compared to approximately 3,500 individual claimants with actions pending as of December 31, 2024.

As of September 30, 2025, the Company is a named defendant, with multiple co-defendants, in numerous lawsuits in various courts that purport to represent approximately 3,600 individual claimants, compared to approximately 3,500 individual claimants with actions pending as of December 31, 2024.

The vast majority of the lawsuits and claims resolved by and currently pending against the Company allege use of some of the Company’s mask and respirator products and seek damages from the Company and other defendants for alleged personal injury from workplace exposures to asbestos, silica, coal mine dust or other occupational dusts found in products manufactured by other defendants or generally in the workplace.

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The issues presented during the bench trial include the statute of limitations, the period available for any penalties under the West Virginia Consumer Protection Act, and the State’s claims that the 8710 respirators did not perform as advertised.

The bench trial is scheduled to resume in August 2025 and a completion date has not been set.

The bench trial is expected to resume in November 2025.

Following resolution by the court of the issues presented during the initial bench trial, the amount, if any, of any civil penalties upon a finding of liability against the Company would be determined through subsequent trial proceedings at an unspecified future date.

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These developments include, but are not limited to, significant changes in (i) the key assumptions underlying the Company’s accrual, including the number of future claims, the nature and mix of those claims, and the average cost of defending and resolving claims and in maintaining trial readiness (ii) trial and appellate outcomes, (iii) the law and procedure applicable to these claims, and (iv) the financial viability of other co-defendants and insurers.

As a result of its review of its respirator mask/asbestos liabilities, of pending and expected lawsuits and of the cost of resolving claims of persons who claim more serious injuries, including mesothelioma, other malignancies, and black lung disease, the Company increased its accruals in the first six months of 2025 for respirator mask/asbestos liabilities by $ 17 million, and made payments for legal defense costs and settlements of $ 66 million related to the respirator mask/asbestos litigation.

As of June 30, 2025, the Company had an accrual for respirator mask/asbestos liabilities (excluding Aearo accruals) of $ 474 million.

As a result of its review of its respirator mask/asbestos liabilities, of pending and expected lawsuits and of the cost of resolving claims of persons who claim more serious injuries, including mesothelioma, other malignancies, and black lung disease, the Company increased its accruals in the first nine months of 2025 for respirator mask/asbestos liabilities by $ 28 million, and made payments for legal defense costs and settlements of $ 80 million related to the respirator mask/asbestos litigation.

As of September 30, 2025, the Company had an accrual for respirator mask/asbestos liabilities (excluding Aearo accruals) of $ 471 million.

This accrual represents the Company’s estimate of probable loss and reflects an estimation period for future claims that may be filed against the Company approaching the year 2050.

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and Cabot Corporation (“Cabot”)) are named defendants, with multiple co-defendants, including the Company, in numerous lawsuits in various courts in which plaintiffs allege use of mask and respirator products and seek damages from Aearo and other defendants for alleged personal injury from workplace exposures to asbestos, silica-related, coal mine dust, or other occupational dusts found in products manufactured by other defendants or generally in the workplace.

As of June 30, 2025, the Company, through its Aearo subsidiary, had accruals of $ 53 million for product liabilities and defense costs related to current and future Aearo-related asbestos, silica-related and coal mine dust claims.

As of September 30, 2025, the Company, through its Aearo subsidiary, had accruals of $ 53 million for product liabilities and defense costs related to current and future Aearo-related asbestos, silica-related and coal mine dust claims.

Responsibility for legal costs, as well as for settlements and judgments, is shared in an informal arrangement among Aearo, Cabot, American Optical Corporation and a subsidiary of Warner Lambert and their respective insurers (the “Payor Group”).

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Environmental Matters and Litigation:

The Company’s operations are subject to environmental laws and regulations including those pertaining to air emissions, wastewater discharges, toxic or hazardous substances, and the handling and disposal of solid and hazardous wastes, which are enforceable by national, state, and local authorities around the world, and many for which private parties in the United States and abroad may have rights of action.

These laws and regulations can form the basis of, under certain circumstances, claims for the investigation and remediation of contamination, for capital investment in pollution control equipment, for restoration of and/or compensation for damages to natural resources, and for personal injury and property damages.

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Regulatory and legislative activities concerning PFAS are accelerating in the United States, Europe and elsewhere, and before certain international bodies.

These activities include gathering of exposure and use information, risk assessment activities, and increasingly stringent restrictions on various uses of PFAS in products and on PFAS in manufacturing emissions and environmental media, in some cases moving towards presently non-detectable limits for certain PFAS compounds.

These activities include gathering exposure and use information, risk assessment activities, and increasingly stringent restrictions on various uses of PFAS in products and on PFAS in manufacturing emissions and environmental media, in some cases moving towards presently non-detectable limits for certain PFAS compounds.

Regulatory limits for PFAS in emissions and in environmental media such as soil and water (including drinking water) are being set at increasingly low levels.

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Given divergent and rapidly evolving regulatory drinking water and other environmental standards, there is currently significant uncertainty about the potential costs to industry and communities associated with remediation and control technologies that may be required.

In the European Union, where 3M has PFAS manufacturing facilities in Germany and Belgium, recent regulatory activities have included various proposed and enacted restrictions of PFAS or certain PFAS compounds, including, among others, under the EU’s Registration, Evaluation, Authorization and Restriction of Chemicals ("REACH"), the EU’s Persistent Organic Pollutants ("POPs") Regulation, the EU's Food Contaminants Regulation and the EU's Water Drinking Directive.

In the European Union, recent regulatory activities have included various proposed and enacted restrictions of PFAS or certain PFAS compounds, including, among others, under the EU’s Registration, Evaluation, Authorization and Restriction of Chemicals ("REACH"), the EU’s Persistent Organic Pollutants ("POPs") Regulation, the EU's Food Contaminants Regulation and the EU's Water Drinking Directive.

PFOA, PFOS and PFHxS (and their related compounds) are listed under several Annexes of the POPs Regulation, resulting in a ban in manufacture, placing on the market and use as well as some waste management requirements of these substances in EU Member States.

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In September 2024, the EU adopted a restriction on certain uses of perfluorohexanoic acid (“PFHxA”) and PFHxA-related substances, including in consumer goods and some uses of firefighting foams and concentrates.

With respect to the applicability of the amendment of the EU POPs Regulation to include PFOA, which has been applicable since 2021, Dyneon, a 3M subsidiary that operates the Gendorf facility in Germany, proactively consulted with the relevant German competent authority regarding improvements necessary to meet applicable limits for a recycling process for a critical emulsifier for which small amounts of PFOA are present as an unintended contaminant after recycling.

In consultation with German regulatory authorities, to achieve the applicable limits for the use of the emulsifier until the exit of PFAS manufacturing, Dyneon uses a method containing a mix of recycled and virgin emulsifier.

In February 2023, the European Chemicals Agency published a proposal to restrict the manufacture, placing on the market, and use of PFAS under REACH, subject to certain proposed exceptions.

Depending on the timing, scope, and obligations contained in any final restriction, PFAS manufacturers and manufacturers of PFAS-containing products including 3M could incur additional costs and potential exposures, including costs of having to discontinue or modify products prior to the previously-announced exit of PFAS manufacturing by the end of 2025, future compliance costs, possible litigation and/or enforcement actions.

Depending on the timing, scope, and obligations contained in any final restriction, PFAS manufacturers and manufacturers of PFAS-containing products including 3M could incur additional costs and potential exposures, including costs of having to discontinue or modify products, future compliance costs, possible litigation and/or enforcement actions.

In addition, in April 2025, EU member states adopted a REACH amendment to restrict the manufacturing, use and placing on the market of all PFAS substances in Aqueous Film Forming Foam ("AFFF").

There is a general 5-year transition plan, with shorter and longer transitional periods for certain uses.

Effective January 2023, the EU Food Contaminants Regulation targeting four PFAS (PFOS, PFOA, perfluorononanoic acid ("PFNA"), and PFHxS) in foodstuff (eggs and animal derived meat) prohibits the sale in all member states of foods containing levels of these chemicals exceeding certain regulatory thresholds.

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As a result of this process, Dyneon has agreed to sponsor environmental studies related to the potential establishment of a landfill to dispose of PFOA-impacted soil, and a local authority has indicated that Dyneon should contribute to the financing of that landfill.

Dyneon also continues to engage with the authorities about potential remedial actions, which may be required in the future to address soil and groundwater.

In January 2025, the competent German authority issued a draft order that, if issued as drafted, would require Dyneon to undertake certain technical planning and testing activities and submit those results to the competent authority to allow it to determine whether such data provides a sufficient basis to thereafter plan for a hydraulic barrier at a location to be determined near the Gendorf site.

In March 2025, Dyneon responded to the draft order saying, in part, that the draft order’s terms are unsuited to addressing concerns arising out of the historical use of PFAS in the region and instead offering to engage with the competent authority to discuss potential solutions to the concerns raised.

Also in March 2025, Dyneon received from the competent authority a draft order that would, if issued as drafted, require Dyneon to undertake a comprehensive remedial investigation of PFOA in soil and groundwater in areas outside the Gendorf facility.

In June 2025, Dyneon responded to the draft order and offered to undertake on a voluntary basis certain elements of the investigatory work described in the draft order.

On July 21, 2025, Dyneon was served with an order requiring it to plan a hydraulic barrier to capture a PFOA plume in groundwater originating from the Dyneon site.

On August 6, 2025, Dyneon was served with an order requiring it to:

(1) assess measures to remediate the impact of PFOA in an area determined by a detailed soil investigation conducted in 2018;

(2) delineate the area of PFOA impact beyond the area identified in the 2018 investigation using a more sensitive metric for soil contamination;

and (3) submit an investigation concept for the assessment of the soil-food crop exposure pathway.

A company that formerly operated PFAS-related manufacturing at the current Dyneon site received an identical order.

On August 18, 2025, Dyneon filed an appeal of the July 21 order.

On September 10, 2025, Dyneon filed an appeal of the August 6 order.

The appeals suspend the enforceability of the orders pending a decision at the first level of judicial review.

Dyneon continues to engage with the competent authorities about potential remedial actions related to the Gendorf facility that may be required in the future.

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In March 2025, the Council of State affirmed 3M Belgium's petition and annulled the Site Decision in its entirety.

In July 2023, the Flemish government approved another executive action establishing a temporary action framework that sets soil and groundwater values for evaluation of remediation of PFAS.

In July 2023, the Flemish government approved another executive action establishing a temporary action framework setting soil and groundwater values for evaluation of remediation of PFAS.

In December 2023, 3M Belgium filed a legal challenge seeking to annul the temporary action framework.

On June 23, 2025, the Flemish Minister of the Environment announced the intent to withdraw the temporary action framework and announced a review focused upon harmonizing the objectives of protecting human health and the environment with the social cost of management of PFAS in the environment and remedial activities.

This includes proposed modifications to the Flemish Soil Decree, as well as interpretations and other guidance from competent regulatory authorities.

3M Belgium is unable to predict the outcome of this process and any changes to existing standards could impose additional financial and remedial obligations on 3M Belgium depending on the standards ultimately adopted.

Following the Flemish Government’s June 2025 announcement of the intent to withdraw the temporary action framework, in September 2025, the Flemish Government formally adopted and then published the withdrawal triggering a 60 day period in which an appeal could be filed.

3M Belgium is unable to predict the ultimate outcome of this regulatory review process and any changes to existing standards could impose additional financial and remedial obligations on 3M Belgium depending on the standards ultimately adopted.

In May 2024, the Flemish government adopted legislation expanding the authority of OVAM to require financial security for remediation work and giving it the ability to impose a percentage of the cost of remediating river sediment on various parties while requiring financial assurance for such work.

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Pending or potential litigation and investigations outside the United States

As of June 30, 2025, a total of eighteen actions against 3M Belgium are pending in Belgian civil courts.

As of September 30, 2025, a total of eighteen actions against 3M Belgium are pending in Belgian civil courts.

3M Belgium has also received pre-litigation notices from individuals and entities in Belgium indicating potential claims.

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The lawsuit generally alleges that PFAS from 3M Belgium’s Zwijndrecht facility impacted certain aspects of the Dutch fishing industry and seeks damages arising from that alleged contamination.

In December 2023, a putative class action was filed against 3M Canada, 3M Company, and other defendants in the British Columbia Supreme Court on behalf of Canadian individuals alleging personal injuries from exposure to Aqueous Film Forming Foam ("AFFF") imported into Canada for firefighting and other applications.

In July 2025, Dyneon received pre-litigation notices from two cities in Germany, as well as a private citizen, requesting payment for alleged costs incurred/expected from handling PFAS impacted soil during construction works.

In December 2023, a putative class action was filed against 3M Canada, 3M Company, and other defendants in the British Columbia Supreme Court on behalf of Canadian individuals alleging personal injuries from exposure to AFFF imported into Canada for firefighting and other applications.

The lawsuit seeks compensatory damages, punitive damages, disgorgement of profits, and the recovery of health care costs incurred by provincial and territorial governments.

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The lawsuit seeks compensatory damages for the testing and treatment of drinking water as well as punitive damages.

In August 2024, a putative class action was filed against 3M Canada, 3M Company, and other defendants in the Manitoba Court of King’s Bench on behalf of Indian bands in Canada.

The lawsuit seeks compensatory and punitive damages and abatement costs for the alleged PFAS contamination of Indian Reserve lands, waters, and other natural resources as well as drinking water.

In August 2024 and August 2025, putative class actions were filed against 3M Canada, 3M Company, and other defendants in the Manitoba Court of King’s Bench and British Columbia Supreme Court on behalf of Indian bands in Canada.

The lawsuits seek compensatory and punitive damages and abatement costs for the alleged PFAS contamination of Indian Reserve lands, waters, and other natural resources as well as drinking water.

In August and September 2024, putative class actions were filed against 3M Canada, 3M Company, and other defendants in the Ontario Superior Court and British Columbia Supreme Court on behalf of all private well owners in Canada whose well water contains PFAS.

The lawsuits seek compensatory damages for the investigation, sampling, testing, assessment, treatment, remediation, and monitoring of well water as well as punitive damages.

In July 2025, the Canadian Department of National Defence filed a third-party contribution and indemnification action against 3M Canada, 3M Company, and other defendants in connection with a pending individual action filed in the Ontario Superior Court alleging property contamination from AFFF firefighting training at the Canadian Forces Detachment Mountain View.

In July 2025, plaintiffs filed a motion to discontinue the Ontario action.

In September 2024, a putative nationwide consumer class action was filed against 3M Canada, 3M Company, and other defendants in the British Columbia Supreme Court on behalf of all persons who purchased carpeting treated with PFAS-containing products before January 1, 2020.

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In September 2024, the Canadian Minister of Transport filed, and in December 2024 amended, a third-party contribution and indemnification action against 3M Canada, 3M Company, and other defendants in connection with a pending putative class action filed in British Columbia Supreme Court in April 2024 alleging property contamination from AFFF as a result of firefighting training at the Abbotsford International Airport outside Vancouver.

Canadian Environmental Protection Act (CEPA) PFAS Section 71 Reporting .

Canada’s Minister of the Environment announced in July 2024 a mandatory survey on the manufacture, import, and use of 312 PFAS due on January 29, 2025.

3M timely submitted its response to the survey on May 8, 2025.

In October 2024, 3M Australia received notice that the New South Wales Environmental Protection Agency has made a preliminary determination that 3M Australia is responsible for investigating and cleaning up PFAS contamination at a site that 3M Australia formerly leased.

In May 2025, the Agency issued a Clean Up Notice related to the site.

3M is continuing to confer with the Agency and is preparing a work plan for a site investigation.

The Company is aware of a writ of summons that was filed in Australia on behalf of individuals with connections to property that has been allegedly impacted by 3M PFAS products, however, 3M Australia has not been served with any such summons.

In July 2025, the Canadian Department of National Defence filed a third-party contribution and indemnification action against 3M Canada, 3M Company, and other defendants in connection with a pending individual action filed in the Ontario Superior Court alleging property contamination from AFFF as a result of firefighting training at the Canadian Forces Detachment Mountain View.

In March 2025, Environment and Climate Change Canada (ECCC) and Health Canada announced plans to add PFAS as toxic substances under the Canadian Environmental Protection Act (CEPA) and to enact a phased ban of certain PFAS in products.

Depending on the timing, scope, and obligations contained in any final ban, PFAS manufacturers and manufacturers of products containing PFAS could incur additional costs and potential exposures, including costs of having to discontinue or modify products.

In May 2025, the New South Wales Environmental Protection Agency issued a Clean Up Notice requiring 3M Australia to investigate and clean up PFAS contamination at a site that 3M Australia formerly leased.

3M submitted a work plan for a site investigation in July 2025.

The Company is aware of a writ of summons that was filed in Australia on behalf of individuals with connections to property that has been allegedly impacted by 3M PFAS products, however, the Company has not been served with any such summons.

Regulation in the United States

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Court of Appeals for the District of Columbia Circuit.

In May 2025, EPA announced that it would maintain the 4 ppt standards for PFOA and PFOS but rescind and reconsider the standards for PFHxS, PFNA, HFPO-DA and PFBS.

EPA has until July 21, 2025, to file motions related to further proceedings in the case.

In May 2025, EPA announced that it would maintain the 4 ppt standards for PFOA and PFOS but rescind and reconsider the standards for PFHxS, PFNA, HFPO-DA and the hazard index standard for a combination of PFAS.

In September 2025, EPA filed a motion asking the Court to vacate the standards for PFHxS, PFNA, HFPO-DA, and the hazard index standard and confirming that it intends to defend the standards for PFOA and PFOS.

In April 2024, EPA released its final rule listing PFOA and PFOS, and their salts and structural isomers, as CERCLA hazardous substances.

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In February 2025, EPA sought and was granted an abeyance of the proceedings to allow the new administration time to review the case.

Motions to govern future proceedings are due on August 18, 2025.

In September 2025, EPA confirmed it intends to defend the rule.

As a result of the CERCLA designation of PFOA and PFOS, and to the extent EPA finalizes additional proposals related to PFAS, 3M may be required to undertake additional investigative and/or remediation activities, including where 3M conducts operations or where 3M has disposed of waste.

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EPA has delayed the submission period for this reporting rule twice and reports for most companies (including 3M) are now due October 13, 2026.

In August 2025, EPA sent a draft proposal to modify the rule to the Office of Management and Budget for review.

EPA’s description of the proposal indicates it includes certain exemptions and other modifications to the scope of the original rule.

In August 2024, three states (New Jersey, New Mexico, and North Carolina) petitioned EPA to list PFOA, PFOS, PFNA, and HFPO-DA as hazardous air pollutants under Clean Air Act and to establish emission standards from source categories.

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In January 2025, EPA released a draft risk assessment for PFOA and PFOS in biosolids.

Public comments on the EPA’s draft are due in August 2025.

The Company submitted comments in August 2025.

If finalized, that risk assessment could inform future regulations on PFAS in wastewater and biosolids.

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In April 2021, 3M filed a lawsuit against the Michigan Department of Environment, Great Lakes, and Energy ("EGLE") to invalidate the drinking water standards EGLE promulgated under an accelerated timeline.

In November 2022, the court granted 3M’s motion for summary judgment on the merits and invalidated EGLE’s rule based on its failure to properly consider relevant costs.

In November 2022, the court granted 3M’s motion for summary judgment and invalidated EGLE’s rule based on its failure to properly consider relevant costs.

The court stayed the effect of its decision pending appeal.

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In March 2025, the Michigan Supreme Court vacated the decision of the Court of Appeals and remanded the case for resolution of certain questions not previously addressed.

Some states have also been evaluating or have taken actions relating to PFOA, PFOS and other PFAS compounds in products.

As discussed in previous disclosures, Maine and Minnesota have both enacted laws that include broad PFAS prohibition and reporting obligations.

In April 2025, New Mexico enacted a law restricting intentionally added PFAS in certain categories of consumer products beginning January 1, 2027, and in all products starting in 2032.

The law also requires manufacturers of any products containing intentionally added PFAS to submit certain information to the New Mexico Environment Department and gives that Department authority to require product testing for PFAS.

In June 2025, Vermont enacted a statute restricting the manufacture, sale, offer for sale, distribution for sale, and distribution for use of certain consumer products that contain PFAS.

Most of the restrictions on consumer products take effect January 1, 2026, with later deadlines for certain product categories.

Certain states, including Colorado, California, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New York, Oregon, Rhode Island, and Washington, have enacted restrictions on PFAS in certain categories of products, including textiles, children’s products, cosmetics, fire fighter personal protective equipment and food packaging products.

In September 2025, the Court of Appeals again affirmed the lower court's decision.

Multiple states have also been evaluating or have taken actions relating to PFOA, PFOS and other PFAS compounds in products.

As discussed in previous disclosures, Maine, Minnesota and New Mexico have enacted laws that include broad PFAS prohibition and reporting obligations.

In addition, multiple other states, including Colorado, California, Connecticut, Hawaii, Illinois, Maryland, Massachusetts, Nevada, New York, Oregon, Rhode Island, Vermont, and Washington, have enacted restrictions on PFAS in certain categories of products, including textiles, children’s products, cosmetics, fire fighter personal protective equipment and food packaging products.

In September 2025, the New Mexico Environment Department announced it intends to require labeling for all products containing intentionally added PFAS beginning January 1, 2027.

3M continues to evaluate the potential impact of these laws on its operations and products.

The Company cannot predict what additional regulatory or legislative actions in the United States, Europe and elsewhere arising from the foregoing or other proceedings and activities, if any, may be taken regarding such compounds or the consequences of any such actions to the Company, including to its manufacturing operations and its products.

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This work will complement an Interim Consent Order that 3M entered into with the Alabama Department of Environmental Management (“ADEM") in 2020 and includes sampling of environmental media, such as ground water, regarding the potential presence of PFAS at the 3M Decatur facility and legacy disposal sites, as well as supporting the execution of appropriate remedial actions.

In August 2022, Colbert County, Alabama, which opted out of an earlier class settlement, filed a lawsuit against 3M and several co-defendants alleging that discharge from operations in Decatur had contaminated the Tennessee River, from which the County draws its drinking water.

In August 2022, Colbert County, Alabama, filed a lawsuit against 3M and several co-defendants alleging that discharge from operations in Decatur had contaminated the Tennessee River, from which the County draws its drinking water.

Judicial Panel on Multidistrict Litigation (“JPML”) issued a conditional transfer order of this case to the AFFF federal Multi-District Litigation ("MDL") in December 2024.

Plaintiff’s motion to remand the case to state court was denied without prejudice to refile following the Fourth Circuit's decision in 3M's appeal of the orders remanding cases brought by the Maryland and South Carolina Attorneys General, as discussed below.

In February 2023, the City of Muscle Shoals, Alabama filed a lawsuit against 3M and several co-defendants alleging that discharge from operations in Decatur had contaminated the Tennessee River, from which the City draws its drinking water.

The JPML issued a conditional transfer order of this case to the AFFF MDL in December 2024.

In April 2025, Colbert County and the City of Muscle Shoals filed a joint motion to remand the two above-referenced cases to state court.

The City of Muscle Shoals, Alabama filed a substantially similar lawsuit in February 2023.

3M removed both cases to federal court in August 2024, and the JPML transferred the cases to the AFFF MDL in December 2024.

In April 2025, Colbert County and the City of Muscle Shoals filed a joint motion to remand the two cases to state court.

3M has responded to that motion, which remains pending.

Since December 2023, a number of personal injury actions have been filed against 3M and other defendants, alleging exposure to PFAS from defendants' operations in Decatur.

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The other lawsuit is proceeding with discovery in state court following a March 2025 ruling by the federal court of appeals denying 3M’s appeal of the order remanding the case to state court.

The state court has set a Spring 2029 trial ready date for the matter.

In June 2019, the Vermont Attorney General filed two lawsuits alleging contamination of the state’s drinking water supplies and other natural resources from PFAS-containing products.

One lawsuit was transferred to the AFFF MDL.

The other lawsuit is proceeding in state court, pending a ruling by the federal court of appeals on 3M's appeal of the order remanding the case to state court.

The federal court of appeals held a hearing on 3M's appeal in February 2025.

The state court has set a November 7, 2025, trial-ready date for the matter.

The other lawsuit is proceeding in federal court, following 3M's July 2025 second removal of the case and an August 2025 ruling by a federal court of appeals granting 3M's appeal of an order remanding a first removal petition filed by 3M.

A hearing on the State's renewed motion to remand is scheduled for December 3, 2025 and thus the state court trial will not proceed in accordance with the trial-readiness date of November 7, 2025.

In March 2022, the Illinois Attorney General filed a lawsuit in Illinois state court against 3M alleging contamination of the state's natural resources by PFAS compounds disposed of by, or discharged, or emitted from 3M's Cordova plant.

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The remaining claims in the case are proceeding with discovery.

The case currently is set for trial in September 2026.

In March 2023, the Maine Attorney General filed two lawsuits alleging contamination of the state's drinking water supplies and other natural resources from PFAS-containing products.

One lawsuit was transferred to the AFFF MDL.

The other lawsuit is proceeding in state court, pending a ruling by the federal court of appeals on 3M's appeal of the order remanding the case to state court.

The federal court of appeals set a hearing on 3M's appeal for October 2025.

The state court dismissed the state's strict liability and trespass claims but denied the remainder of 3M's motion to dismiss in December 2024.

The case is proceeding with discovery on the remaining claims.

The other lawsuit is proceeding in federal court, following 3M's September 2025 second removal of the case.

The federal court of appeals held a hearing on 3M's appeal of the order remanding 3M's first removal on October 6, 2025.

The case is proceeding with discovery on the claims remaining after the state court dismissed the state's strict liability and trespass claims in December 2024.

In May 2023, the Maryland Attorney General filed two lawsuits alleging contamination of the state's drinking water supplies and other natural resources from PFAS-containing products.

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In May 2025, the federal court of appeals denied the state's petition for rehearing en banc.

The State has indicated that it will file a petition for review by the U.S.

Supreme Court.

South Carolina.

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In May 2025, the federal court of appeals denied the state's petition for rehearing en banc.

The State has indicated that it will file a petition for review by the U.S.

Supreme Court.

In January 2024, the Connecticut Attorney General filed two lawsuits alleging contamination of the state's drinking water supplies and other natural resources from PFAS-containing products.

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3M filed a notice of appeal from the remand order in December 2024 and a motion to dismiss in January 2025.

The federal court of appeals set a hearing on 3M's appeal of the remand order for November 20, 2025.

In May 2023, the Texas Attorney General filed a lawsuit alleging contamination of the state’s drinking water supplies and other natural resources from PFAS-containing products.

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In December 2024, the Texas Attorney General filed a second complaint against 3M, DuPont and Chemours in Texas state court alleging violations of the Texas Deceptive Trade Practices-Consumer Protection Act in connection with the advertising, marketing, and sale of PFAS-containing consumer products.

In January 2025, 3M removed the case to federal court, and the state has sought remand of the matter to state court.

In February 2025, 3M filed a motion to dismiss for lack of personal jurisdiction.

Following 3M’s removal of the case to federal court, the federal court remanded the matter to state court.

3M filed an application for leave to appeal to the federal court of appeals in September 2025.

In January 2024, the Oklahoma Attorney General filed a lawsuit in the AFFF MDL alleging contamination of the state’s drinking water supplies and other natural resources from PFAS-containing products.

In August 2025, the Oklahoma Attorney General filed a second lawsuit in Oklahoma state court, which 3M removed to federal court in September 2025.

In October 2025, 3M filed a motion to dismiss, and the State filed a motion to remand the case to state court.

In addition, the Company is in discussions with several state attorneys general and agencies, responding to information and other requests, including entering into tolling agreements, relating to PFAS matters and exploring potential resolution of some of the matters raised.

Aqueous Film Forming Foam (AFFF) Litigation

As of June 30, 2025, more than 7,800 lawsuits alleging injuries or damages from PFAS contamination or exposure allegedly caused by AFFF use are pending against 3M (along with other defendants) in various state and federal courts, along with purported unfiled personal injury claims.

As further described below, a vast majority of these pending cases are in a federal MDL court in South Carolina.

Additional AFFF cases continue to be filed in or transferred to the MDL.

As of September 30, 2025, according to data compiled by the Judicial Panel on Multidistrict Litigation, there are more than 13,900 cases related in whole or in part, to PFAS contamination or exposure allegedly caused by AFFF pending in a consolidated multi-district litigation ("MDL") in federal court in South Carolina.

These cases are in addition to cases that have been filed in state and other federal courts which also allege such injuries or damages (along with purported unfiled personal injury claims).

Many of the personal injury cases both inside and outside the MDL have included and continue to include multiple plaintiffs and, therefore, the number of plaintiffs who have asserted such claims is substantially higher than the number of cases noted above.

With respect to cases filed outside the MDL, 3M continues, where possible, to seek the transfer of those matters into the MDL and the vast majority of the pending cases are being litigated in the MDL.

Claims in the MDL are asserted by individuals, public water systems, putative class members, state and territorial sovereigns, and other entities.

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In September 2022, the court issued an order denying defendants' MDL-wide summary judgment motions on the government contractor defense, which defense can be presented to a jury at future trials.

On June 22, 2023, 3M entered into a class-action settlement to resolve a wide range of drinking water claims by public water suppliers in the United States (the “PWS Settlement”), which was approved by the court in March 2024 and took effect in May 2024.

In June 2023, 3M entered into a class-action settlement to resolve a wide range of drinking water claims by public water suppliers ("PWS") in the United States (the “PWS Settlement”), which was approved by the court in March 2024 and took effect in May 2024.

Eligible class members are United States public water suppliers as defined in the PWS Settlement.

The PWS Settlement provides that 3M does not admit any liability or wrongdoing and does not waive any defenses.

Following the PWS Settlement, a number of cases filed by PWS are still pending.

Approximately 20 of these cases were brought by PWS class members with respect to which the parties are in the process of implementing the dismissal of released claims in accordance with the court's final approval order.

The remaining cases are brought by PWS that did not participate in the PWS settlement, which includes cases pending in both the MDL and various state courts.

Following the PWS Settlement, a number of cases filed by PWS are still pending including cases brought by water suppliers that did not qualify as eligible claimants and water suppliers that did not participate in the PWS settlement, which includes cases pending in both the MDL and various state courts.

3M will pay $ 10.5 billion to $ 12.5 billion in total to resolve the claims released by the PWS Settlement.

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At the Court's direction, the parties continue to negotiate processes for bellwethers of certain other personal injury claims.

The Court continues to encourage the parties to settle matters and 3M is participating in Court-ordered settlement discussions facilitated by a Court-appointed mediator in advance of the first bellwether personal injury trial scheduled to begin on October 20, 2025.

The Court continues to encourage the parties to settle matters and 3M is participating in Court-ordered settlement discussions facilitated by a Court-appointed mediator.

In August 2025, the Court entered an order vacating the schedule for the first bellwether trial that had been scheduled to begin in October 2025.

Also in August 2025, the Court entered orders relating to the filing of personal injury cases in the MDL and requesting the transfer of certain types of cases, including cases involving firefighter turnout gear, to the MDL.

In November 2024, the Court issued an order directing the parties to work together to develop a process to select approximately 15 sites allegedly contaminated with PFAS from AFFF use for the purpose of conducting focused product identification discovery.

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Two of these cases have been removed to federal court and transferred to the AFFF MDL, and one case was voluntarily dismissed.

The four cases that remain pending in state courts are stayed by agreement of the parties.

The five cases that remain pending in state courts are stayed by agreement of the parties.

The Company is aware of other AFFF suits outside the AFFF MDL in which the Company has been named as a defendant.

3M anticipates seeking to have most of these cases removed to federal court and transferred to the AFFF MDL;

however, several cases are expected to remain pending in state courts, including a case in Illinois state court brought by an oil refinery worker alleging harm caused by PFAS and other chemicals.

In that case (Bannister), 3M filed a motion to dismiss in April 2025, which resulted in the plaintiff being granted leave to amend her complaint.

The matter currently is scheduled for trial in September 2026.

however, several cases are expected to remain pending in state courts, including a case in Illinois state court brought by an oil refinery worker alleging harm caused by PFAS and other chemicals as well as tobacco, which is set for trial in September 2026.

Other PFAS-related Product and Environmental Litigation

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The Company anticipates seeking to have most of the cases that relate to AFFF removed to federal court and transferred to the MDL.

However, some of these cases are likely to remain in state or federal courts outside the MDL.

Since 2017, 3M has been served with individual and putative class action complaints in various state and federal courts alleging, among other things, that 3M’s customers’ improper disposal of PFOA and PFOS resulted in the contamination of groundwater, surface water, or biosolids that were then land-applied.

For example, in September 2025, the Leech Lake Band of Ojibwe filed suit against 3M and several other defendants alleging harm to its drinking water and other natural resources.

The Tribe also alleges adverse health impacts from PFAS contamination.

The case was removed to federal court and tagged for transfer to the MDL in October 2025.

However, some of the cases initially filed outside the MDL are likely to remain in state or federal courts outside the MDL.

Since 2017, 3M has been served with individual and putative class action complaints in various state and federal courts alleging, among other things, that 3M’s customers’ improper disposal of certain forms of PFAS resulted in the contamination of groundwater, surface water, or biosolids that were then land-applied.

The plaintiffs in these cases generally allege that 3M failed to warn its customers or the plaintiffs themselves about the hazards of improper disposal of the product.

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As described immediately below, some of these cases have been brought by drinking water providers that opted out of the PWS Settlement.

In Alabama, 3M, together with multiple co-defendants, is defending several court cases brought by municipal water utilities.

The plaintiffs in one of these cases (Shelby/Talladega Counties) are water utilities alleging that carpet manufacturers in Georgia improperly discharged PFAS into the surface water and groundwater, contaminating drinking water supplies of cities located downstream along the Coosa River in Alabama.

The case has a trial date in February 2026.

3M removed this case to federal court and a motion to remand remains pending.

The city of Albertville, Alabama filed suit for alleged contamination of the Tennessee River (upstream of 3M’s Decatur facility) by a carpet manufacturer in Alabama.

In Alabama, 3M, together with multiple co-defendants, are defending several court cases brought by municipal water utilities.

The plaintiffs in three of these cases (Shelby/Talladega Counties, Five Star Water Supply District, and City of Clanton WWSB) are water utilities alleging that carpet manufacturers in Georgia improperly discharged PFAS into the surface water and groundwater, contaminating drinking water supplies of cities located downstream along the Coosa River in Alabama.

3M removed these cases to federal court.

Plaintiffs have moved to remand the Shelby/Talladega Counties case, which has been stayed pending the Eleventh Circuit’s ruling in the Town of Pine Hill appeal (discussed below).

Plaintiffs filed motions to remand both the Five Star and City of Clanton cases in September 2025.

The City of Albertville, Alabama filed suit in Alabama state court for alleged contamination of the Tennessee River (upstream of 3M’s Decatur facility) by a carpet manufacturer in Alabama.

Defendants filed a joint motion to dismiss in May 2024.

Oral argument on the motion was held in April 2025 and the motion remains pending.

The city of Mobile alleges that 3M and other defendants are responsible for PFAS contamination of the city’s water supply resulting from PFAS released by a local landfill.

The City of Mobile, Alabama filed suit in Alabama state court alleging that 3M and other defendants are responsible for PFAS contamination of the city’s water supply resulting from PFAS released by a local landfill.

In October 2024, the Court granted 3M’s and several other defendants’ motions to dismiss.

Claims against one local defendant remain pending, which prevents the motion to dismiss ruling from becoming final.

The Town of Pine Hill, Alabama filed suit alleging that PFAS discharges from paper mills currently owned by International Paper have contaminated its water supply.

The Town of Pine Hill, Alabama filed suit in Alabama state court alleging that PFAS discharges from paper mills currently owned by International Paper have contaminated its water supply.

3M removed the case to federal court.

In March 2025, the district court ordered the case remanded.

3M has filed a notice of appeal.

In March 2025, the district court granted plaintiff’s motion to remand.

3M filed a notice of appeal to the United States Court of Appeals for the Eleventh Circuit, and the district court granted 3M’s motion to stay the remand order.

Briefing in the Eleventh Circuit was completed in August 2025.

In June 2025, the state court ruled that it could proceed with discovery notwithstanding the federal district court’s stay of the remand order.

In July 2025, defendants filed a Petition for Writ of Mandamus in the Alabama Supreme Court challenging that state-court ruling and the Alabama Supreme Court has issued an order requiring a response to the Writ.

The City of Irondale, Alabama filed suit alleging PFAS contamination of its water supply due to industrial discharges from several users of PFAS in different industries, including alleged customers of 3M.

3M removed the case to federal court and a motion to remand remains pending.

3M removed the case to federal court and in August 2025, the plaintiffs’ motion to remand was denied.

In September 2025, the case was stayed pending the Eleventh Circuit’s decision in Pine Hill .

In May 2025, the City of Opelika, Alabama sued 3M and numerous other defendants alleging that releases by users of PFAS in carpet, textile, and paper manufacturing operations upstream of its drinking water intake have contaminated its water supply.

3M removed the case to federal court and has moved to transfer the case to the AFFF MDL.

3M’s transfer motion and Plaintiff’s motion to remand is pending.

All other deadlines are stayed until the remand is decided.

Plaintiff filed a motion to remand, and in September 2025, the case was stayed pending the Eleventh Circuit’s decision in Pine Hill .

In May 2025 the City of Foley, Alabama sued 3M and others alleging that releases by users of PFAS in local manufacturing operations contaminated groundwater used for drinking water supplies.

3M filed a Motion to Dismiss on July 16, 2025.

3M filed a Motion to Dismiss in July 2025.

3M is also defending a mass action filed in Alabama in June 2024 by hundreds of individual customers of the Water Works and Sewer Board for the City of Gadsden, Alabama, alleging emotional distress and property damage related to PFAS contamination of their drinking water.

3M removed the case to federal court, where the case is proceeding through discovery.

In Georgia, 3M, together with other defendants, is also defending a putative class action in federal court, in which plaintiffs seek relief on behalf of a class of individual ratepayers in Summerville, Georgia who allege their water supply was contaminated by PFAS discharged from a textile mill.

In Georgia, 3M, together with other defendants, is defending a putative class action in federal court, in which plaintiffs seek relief on behalf of a class of individual ratepayers in Summerville, Georgia who allege their water supply was contaminated by PFAS discharged from a textile mill.

The City of Summerville intervened in the case and also brought claims against 3M and other defendants.

Briefing on dispositive motions is underway and no trial date has been set.

Briefing on dispositive motions is underway and trial is expected in 2026.

Another case currently pending in federal court in Georgia was brought by individuals asserting PFAS contamination by 3M and other defendants and seeks economic damages and injunctive relief on behalf of a putative class of Rome and Floyd County water subscribers.

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Plaintiff's claims for economic damages related to alleged increases in their water rates due to the presence of PFAS remain pending.

Discovery has been reopened in a limited fashion due to Plaintiffs’ request to investigate whether recent increases in water utility rates by the City of Rome is attributable to PFAS.

This discovery is proceeding.

No trial date has been set.

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Motions to dismiss have been denied, and these claims are in active discovery.

In January 2025, private plaintiffs filed lawsuit against 3M and other defendants in Gordon County, Georgia alleging similar PFAS contamination on their property.

All of these cases remain pending.

In January 2025, a private plaintiff filed a lawsuit against 3M and other defendants in Gordon County, Georgia alleging similar PFAS contamination on its property.

All of these cases remain pending and discovery is proceeding.

Some of these cases are tentatively set for trial in October and November of 2026.

In July 2024, the City of Lyerly sued 3M and other defendants, alleging that discharges from local carpet mills contaminated the City's water supply.

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In November 2024, Mohawk Industries, a carpet manufacturer, filed a lawsuit in Whitfield County, Georgia against 3M, DuPont, and Daikin alleging various counts of tort and contract liability, including fraud, related to sales of fluorochemicals.

Motions to dismiss have been briefed and argued and remain pending.

Motions to dismiss the case were denied.

Discovery in the case is proceeding.

In December 2024, Dalton Utilities, located in Dalton, Georgia, filed a suit against 3M and other defendants seeking clean-up costs under CERCLA for alleged PFAS contamination related to the Dalton Land Application System, which is a field that has received carpet mill effluent pursuant to a Georgia Environmental Protection Division permit since the late 1980s.

Briefing on motions to dismiss is ongoing.

In December 2024, Dalton Utilities, located in Dalton, Georgia, filed a suit against 3M and other defendants seeking clean-up costs under CERCLA and common law for alleged PFAS contamination related to the Dalton Land Application System, which is a nearly 10,000 acre field that has received carpet mill effluent pursuant to a Georgia Environmental Protection Division permit since the late 1980s.

Briefing on motions to dismiss is complete, and a hearing date has been set for October 29, 2025.

In December 2024, Murray County, Georgia filed suit against 3M and other defendants seeking clean-up costs for alleged PFAS contamination related to the Murray County landfill and other locations throughout the County.

3M filed a motion to dismiss, which has been fully briefed.

3M filed a motion to dismiss, which has been fully briefed and the court held a hearing on the motion on October 15, 2025.

In January 2025, Catoosa County, Georgia and Gordon County, Georgia filed substantively identical complaints alleging similar PFAS impacts as Murray County related to county-owned landfills.

3M filed a motion to dismiss, which has been fully briefed.

In July 2025, property owners in Gordon County and Murray County, Georgia, filed eight separate lawsuits against PFAS chemical manufacturers and carpet manufacturers alleging that the discharge of PFAS from various carpet manufacturer facilities contaminated their properties.

Motions to dismiss for these cases were filed on September 8, 2025.

In February 2025, the City of Savannah, Georgia sued 3M and multiple other defendants, including carpet makers, alleging PFAS discharges upstream of its surface water drinking intake have contaminated its water supply.

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In April 2025, the City of Chatsworth, Georgia sued 3M and multiple other defendants, including carpet makers, alleging PFAS discharges have contaminated its water supply.

3M's responsive pleading deadline is August 8, 2025.

3M has filed a motion to dismiss and briefing on the motion is underway.

In April 2025, a private landowner and an environmental organization (Coosa River Basin Initiative) sued 3M and others, including carpet makers and Dalton Utilities, for property damages and injunctive relief related to the Dalton Utilities Land Application System.

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All other deadlines are stayed until the stay is decided.

On September 15, 2025, Plaintiffs filed a motion to consolidate this case with the putative class of Rome and Floyd County ratepayer class action discussed above, which is pending before the same judge.

The motion remains pending.

In April 2025, private landowners in Chattooga County, Georgia sued 3M and multiple other defendants, including a textile mill, alleging that PFAS discharges to the Town of Trion, Georgia wastewater treatment plant made its way to sludge that was deposited on plaintiffs’ properties via land application for years.

3M's responsive pleading deadline is August 11, 2025.

The case was voluntarily dismissed and re-filed in Gwinnett County, Georgia.

3M has not yet been served with the new complaint.

In June 2025, private landowners in northwest Georgia filed three cases against 3M and other defendants alleging PFAS from nearby carpet making facilities has contaminated soil, water, and indoor dust at their properties.

3M's responsive pleading deadline is July 24, 2025.

3M filed Motions to Dismiss on July 24, 2025 and briefing on the motions is underway.

In June 2025, Walker County, Georgia and the City of Chickamauga, Georgia sued 3M and multiple other defendants, including carpet makers, alleging that the carpet manufacturers discharged PFAS into the public sewer system, which caused it to enter plaintiffs’ drinking water.

3M's responsive pleading deadline is July 20, 2025.

3M filed Motions to Dismiss in all three cases and briefing is underway.

In September 2025, Dougherty County and Chattooga County Georgia filed a case against 3M in the Middle District of Georgia on behalf of a putative class of all governmental entities in Georgia who own or operate municipal landfills impacted by PFAS.

3M has not yet responded to the complaint.

In Delaware, 3M, together with several co-defendants, has been defending one putative class action brought by individuals alleging PFAS contamination of their water supply resulting from the operations of local metal plating facilities.

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In New Jersey, 3M, together with several co-defendants, is also defending numerous cases in federal court brought by individuals with private drinking water wells near certain DuPont and Solvay facilities that were allegedly supplied with PFAS by 3M.

3M settled for an immaterial amount with the plaintiffs in certain cases that sought property damages, and for those cases requiring court approval, such approval was granted in May 2025.

3M settled for an immaterial amount with the plaintiffs in certain cases that sought property damages, and for those cases requiring court approval, such approval was granted in May 2025 and all such cases have been dismissed as to 3M.

Plaintiffs in the remaining individual cases allege personal injuries to themselves or to their adult children.

In addition, 3M and several other defendants were named in a complaint filed in New Jersey state court in May 2025 by individuals who resided near Solvay’s facility and who allege personal injuries to themselves or to their children from PFAS exposure.

3M has not been served yet.

3M removed the case to federal court in August 2025.

3M's motion to transfer the case to the AFFF MDL has been fully briefed.

3M and Middlesex Water Company are defending a putative class action filed in New Jersey federal court in November 2021 by individuals who received drinking water from Middlesex Water Company that was allegedly contaminated with PFOA.

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In November 2023, Middlesex Water Company dismissed its third-party complaint against the Company in connection with the settlement of Middlesex Water Company's separate action against 3M.

The parties to the New Jersey federal and state court class actions have agreed to settle these cases for an immaterial amount, subject to court approval.

The parties to the New Jersey federal and state court class actions have agreed to settle these cases for an immaterial amount, which settlement was approved by the Court in September 2025.

In March 2023, a personal injury lawsuit was filed against 3M and Middlesex Water Company by another Middlesex Water Company customer.

The case is now proceeding in discovery.

Trial is currently set for May 2026.

In South Carolina, a putative class action lawsuit was filed in South Carolina state court against 3M and other defendants in March 2022.

The lawsuit alleges property damage and personal injuries from contamination from PFAS compounds used and disposed of at the textile plant.

The complaint seeks remedies including damages, punitive damages, and medical monitoring.

The lawsuit alleges property damage from contamination from PFAS compounds used and disposed of at a defunct textile plant in Society Hill, South Carolina.

The operative complaint seeks both property and punitive damages.

The case has been removed to federal court.

In August of 2024, a companion personal injury case was filed in South Carolina.

In August 2024, a companion personal injury case was filed in South Carolina state court.

3M removed this case to federal court.

Discovery is proceeding in both cases.

Discovery is proceeding in the putative property damage class action.

Motions to Dismiss filed by 3M and other defendants are pending in the personal injury case.

In January 2025, eight water systems that opted out of the PWS Settlement filed complaints in South Carolina state court against 3M and other defendants, alleging PFAS contamination from a variety of industrial sources.

3M removed all eight cases into the AFFF MDL in federal court in February 2025.

In April 2025, plaintiffs filed motions to remand all eight cases to state court.

In May and June 2025, nine additional water providers that opted out of the PWS Settlement filed complaints against only 3M in South Carolina federal court outside the AFFF MDL, alleging PFAS contamination from a variety of industrial sources.

In June 2025, 3M identified the cases as related to the AFFF MDL.

3M has not yet responded to the complaints.

In Massachusetts, a putative class action lawsuit was filed in August 2022 in state court against 3M and several other defendants alleging PFAS contamination from waste generated by local paper manufacturing facilities that was subsequently incorporated into biosolids.

In April 2025, plaintiffs filed motions to remand all eight cases to state court, which have now been fully briefed.

In May and June 2025, nine additional South Carolina water providers that opted out of the PWS Settlement filed complaints against only 3M in South Carolina federal court outside the AFFF MDL, alleging PFAS contamination from a variety of industrial sources.

In August 2025, 3M’s motion to transfer all nine cases to the MDL was granted.

The lawsuit alleges property damage and seeks medical monitoring on behalf of plaintiffs within the Town of Westminster.

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In February and March 2024, 3M and the remaining defendants answered the complaint and filed cross claims against one another.

The case is now proceeding in discovery and class certification.

In April 2025, the class action was consolidated with another class action brought by the same plaintiffs against different defendants.

Class certification proceedings in the original action are stayed until April 2026 to allow the cases to proceed to a single class certification hearing, which is expected in the third quarter of 2026.

With the exception of certain limited discovery, class certification proceedings in the original action are stayed until April 2026 to allow the cases to proceed to a single class certification hearing, which is expected in the third quarter of 2026.

No trial date has been set.

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In March 2025, another resident of Westminster, Massachusetts filed an additional suit against 3M and other defendants alleging PFAS-related personal injury.

3M has not yet responded to that complaint.

3M filed a Motion to Dismiss in September 2025, which remains pending.

In Maine, a group of landowners filed a second amended complaint in October 2022 in federal district court, adding 3M and several other alleged chemical suppliers as defendants in a case previously filed against several paper mills, alleging PFAS contamination from waste generated by the paper mills that was then incorporated into biosolids.

The lawsuit seeks to recover for alleged property damage.

In March 2023, plaintiffs filed a third amended complaint limiting the scope of their claims to allegations pertaining to one paper mill and three defendants that allegedly supplied PFAS-containing products to that mill, including 3M.

In October 2023, the court denied 3M's motion to dismiss the case.

Plaintiffs filed a fourth amended complaint in September 2024, which removed all personal injury and medical monitoring claims, dismissed certain plaintiffs, and added property damage claims for certain new plaintiffs asserting only property damage claims.

The case is now proceeding in discovery.

The case is now proceeding in fact discovery, as to the six original plaintiffs, which is set to close in October 2025.

No trial date has been set.

In Wisconsin, in August 2023, 3M and other defendants were named as defendants in a putative class action brought in federal court by several residents of Oneida County alleging property damage resulting from PFAS contamination they attribute to waste generated from the operations of a paper mill in Rhinelander, Wisconsin that was then incorporated into biosolids.

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The case also includes (non-class) personal injury claims on behalf of select plaintiffs.

3M filed a motion to dismiss this case in February 2025 and filed a motion to transfer the case to the AFFF MDL in March 2025.

The case was stayed pending a ruling by the JPML on 3M's motion for transfer, which was denied in June 2025.

3M filed a motion to dismiss this case in February 2025, which remains pending.

Trial is scheduled for November 1, 2027.

In Illinois, 3M has been sued in three separate actions by individual plaintiffs alleging personal injury and/or property damage claims relating to alleged PFAS contamination from 3M’s Cordova facility.

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In October 2024, the court denied 3M's motion to dismiss.

The court has set a trial date in May 2027.

In September 2025, 3M was named a defendant in a personal injury suit filed in Missouri state court alleging plaintiff’s injuries were caused by exposure to chemicals in firefighting protective gear.

3M removed the case to federal court in September 2025 and is seeking to have the case transferred to the AFFF MDL.

In Connecticut, in June 2024, 3M and numerous other defendants were sued in a putative class action brought by individual firefighters and several firefighter unions, alleging exposure to PFAS from certain turnout gear worn by the class members.

Plaintiffs filed a second amended complaint in April 2025, and 3M filed a motion to dismiss in June 2025.

Plaintiffs filed a second amended complaint in April 2025.

3M filed its motion to dismiss the amended complaint in June 2025, and that motion is being briefed.

In October 2018, 3M and other defendants, including DuPont and Chemours, were named in a putative class action in the U.S.

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3M was served with the suit in July 2024 and subsequently filed a motion to transfer the case to the AFFF MDL, which was denied in October 2024.

In October 2024, 3M filed a motion to dismiss the lawsuit, which motion is pending.

In October 2024, 3M filed a motion to dismiss the lawsuit.

In Virginia, in August 2024, 3M was named as a defendant in a case alleging that plaintiff’s decedent, a civilian firefighter, died from cancer allegedly caused by exposure to PFAS from turnout gear.

A co-defendant removed the case to federal court, where plaintiff has moved to remand the case to state court.

The plaintiff's motion to remand remains pending.

A co-defendant removed the case to federal court.

In April 2025, 3M was named as a defendant in a similar case in Virginia, which was removed to federal court by another defendant.

In June 2025, 3M was served in a third similar case currently pending in Virginia state court.

In August 2025, 3M filed motions to transfer both cases to the AFFF MDL.

Plaintiffs’ motions to remand remain pending in both matters.

In September 2025, 3M removed three additional firefighter turnout gear cases to Virginia federal court and is seeking transfer of those cases to the AFFF MDL.

In Minnesota, in August 2024, 3M, DuPont, and Chemours were named in a putative nationwide class action brought on behalf of all persons who purchased carpeting treated with PFAS-containing products before January 1, 2020.

The lawsuit alleges claims under RICO and state consumer protection, product liability, and nuisance laws.

3M filed a motion to dismiss in November 2024.

Oral argument on 3M's motion was heard in April 2025.

In September 2025, the federal district court granted 3M's motion to dismiss all claims.

In Minnesota, in May 2025, 3M.

DuPont, and Chemours were named in a putative nationwide class action in federal court brought on behalf of all municipalities and governmental entities who purchased fire fighter personal protective equipment from the named defendants alleging injuries from exposure to PFAS in the protective equipment.

3M's responsive pleading is due in October 2025.

In Pennsylvania, in March 2025, 3M, DuPont, and the designers, manufacturers, and distributors of AstroTurf were named in a complaint filed in the Philadelphia Court of Common Pleas by former Philadelphia Phillies players alleging personal injury claims allegedly resulting from exposure to PFAS and ethylene oxide in AstroTurf at Veterans Stadium.

Plaintiffs’ alleged exposures date back to the 1970s.

In June 2025, 3M filed its preliminary objections.

In June 2025, 3M and several other entities were named as defendants in a case filed in the Philadelphia Court of Common Pleas by a firefighter alleging that his cancer was caused by exposure to PFAS from turnout gear.

In September 2025, 3M removed the case to federal court.

In June, July, and August 2025, 3M and several other entities were named as defendants in cases filed in the Philadelphia Court of Common Pleas by firefighters alleging that their cancers were caused by exposure to PFAS from turnout gear.

In August 2025, plaintiffs in all three actions voluntarily dismissed their claims with the intention of refiling in the AFFF MDL.

In Montana, in April 2025, 3M, DuPont, and Chemours were named in a putative nationwide class action in Montana District Court, brought on behalf of all entities who bought turnout gear from the named defendants alleging injuries from exposure to PFAS in the turnout gear.

The lawsuit alleges claims under RICO and state conspiracy, product liability, consumer protection, and deceptive trade practices laws.

On September 23, 2025, the court denied Defendants’ motion to transfer the case to the District of Delaware.

Motion to dismiss briefing had been stayed pending a ruling on the transfer motion and will now be resumed.

In New York, in May 2025, the owner of a tree nursery located in Hoosick Falls filed suit against 3M, Saint-Gobain Performance Plastics Corp., Honeywell International Inc., and DuPont seeking to recover for property damage allegedly resulting from PFOA contamination that plaintiff attributes to a nearby fabric coating facility.

3M's response to the amended complaint is due in October 2025.

In Michigan, 3M previously settled claims brought by Wolverine World Wide (Wolverine) related to Wolverine’s alleged use of 3M Scotchgard in its shoe manufacturing operations.

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The wastewater controls are currently being upgraded and optimized.

ADEM has not acted on the request to modify the NPDES permit.

ADEM and 3M are in discussions about 3M's application for a modified NPDES permit.

3M and ADEM agreed to the terms of an interim consent order in July 2020 to cover all PFAS-related wastewater discharges and air emissions from the Company’s Decatur facility.

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An application to add the additional PFAS to the plant's permit was submitted to IEPA, and the Company has now brought on-line and continues to optimize a wastewater treatment specifically designed to treat PFAS.

IEPA has not acted on the pending application.

IEPA and 3M are in discussions about 3M's application for a modified NPDES permit.

In November 2022, the Company entered into an Administrative Consent Order under the Safe Drinking Water Act ("SDWA") that requires the Company to continue to sample and survey private and public drinking water wells within the vicinity of the Cordova facility, provide treatment of private water wells within a three-mile radius of the Cordova facility, and to provide alternate treatment/supply for the Camanche, Iowa public drinking water system.

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As noted above, 3M continues to engage with EPA and MPCA on potential civil claims related to these discharges.

The Company submitted an application to add the additional PFAS to its NPDES permit.

The Company is currently installing a new wastewater treatment system to address PFAS.

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In January 2021, MPCA issue a Notice of Violation that included measures requiring the Company to address the presence of PFAS in wastewater and to undertake certain facility improvements related to its wastewater discharge system.

The Company continues to work with MPCA to implement the measures in the Notice of Violation.

The Company continues to work with MPCA to address the Notice of Violation.

In June 2022, MPCA directed that the Company address the presence of PFAS in its stormwater discharge from the Cottage Grove facility.

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The projects approved by MPCA drawing on the fund must be reasonable and necessary.

If the fund is depleted, municipalities could seek additional funding from 3M.

MPCA and 3M disagree that certain projects MPCA has proposed are reasonable and necessary and otherwise satisfy the conditions created by the 2018 settlement.

If the fund is depleted, additional funding could be sought from 3M.

MPCA and 3M disagree that certain projects MPCA has approved are reasonable and necessary and otherwise satisfy the conditions created by the 2018 settlement.

MPCA and 3M also disagree over whether certain projected long-term operations and maintenance and other expenses that will not be paid for many years should be factored into determining when the fund is depleted.

4 unchanged sentences

The Company is working with MPCA regarding the allegations in the Notice of Violation.

Fairmont, Minnesota

MPCA issued a Notice of Violation (NOV) dated July 22, 2025, to the Company for alleged violations related to stormwater and fire water discharges containing PFAS constituents at the 3M Fairmont MN facility.

The major corrective actions required in the NOV include completion of a stormwater action plan to improve collection and treatment of stormwater and a soil and groundwater investigation at the site.

The Company has provided a response to the NOV contesting the validity of the alleged violations and a plan for addressing the requested corrective actions.

The Company continues to work with relevant federal and state agencies (including EPA, the U.S.

5 unchanged sentences

In August 2024, the Company received a request for information from EPA under CERCLA seeking information and documents, including regarding the use and disposal of PFAS at its Greystone facility and its downtown Wausau facility.

3M has provided the EPA with information responsive to that request.

3M has provided the EPA with information responsive to that request and in October 2025 EPA informed 3M it has not identified any immediate need for 3M to take additional action with respect to EPA's request.

In March 2025, the Wisconsin Department of Natural Resources (WDNR) issued a letter to 3M stating that it has determined there has been a release of hazardous substances from the Greystone facility based on PFAS detected in groundwater and ordering 3M to submit a work plan for investigation.

A site investigation work plan, which describes the initial scope of sampling to take place at the facility, was submitted to the WDNR in June 2025 and is currently under agency review.

Depending on the results of that investigation, the WDNR may require 3M to conduct remediation at the site.

A site investigation work plan, which describes the initial scope of sampling to take place at the facility, was submitted to the WDNR in June 2025.

The WDNR has approved the work plan and soil and groundwater sampling is in process.

Cynthiana, Kentucky

3 unchanged sentences

3M is engaged with the regulatory authority on these issues.

Hartford City, Indiana

In July 2025, the Indiana Department of Environmental Management (IDEM) issued notices of liability requiring 3M to investigate and remediate hazardous substances, including PFAS, at 3M’s Hartford City facility and nearby off-site properties.

IDEM also issued related information requests.

3M is engaged in discussions with IDEM about the notices and information requests.

Other Environmental Matters

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The Company periodically examines whether the contingent liabilities related to the environmental matters and litigation described above are probable and reasonably estimable based on experience and ongoing developments in those matters, including discussions regarding negotiated resolutions.

During the first six months of 2025, primarily as a result of the New Jersey Settlement and interest accretion on the PWS Settlement, the Company increased its accrual for PFAS-related other environmental liabilities by approximately $ 0.4 billion and made related payments of $ 1.8 billion.

As of June 30, 2025, the Company had recorded liabilities of $ 7.4 billion for “other environmental liabilities.” These amounts are reflected in the consolidated balance sheet within other current liabilities ($ 0.7 billion) and other liabilities ($ 6.7 billion).

During the first nine months of 2025, primarily as a result of the New Jersey Settlement and interest accretion on the PWS Settlement, the Company increased its accrual for PFAS-related other environmental liabilities by approximately $ 0.7 billion and made related payments of $ 1.8 billion.

As of September 30, 2025, the Company had recorded liabilities of $ 7.5 billion for “other environmental liabilities.” These amounts are reflected in the consolidated balance sheet within other current liabilities ($ 0.7 billion) and other liabilities ($ 6.8 billion).

The accruals represent the Company’s estimate of the probable loss in connection with the environmental matters and PFAS-related matters and litigation described above.

The Company is not able to estimate a possible loss or range of possible loss in excess of the established accruals at this time.

As of June 30, 2025, the Company had recorded liabilities of $ 38 million for estimated non-PFAS related “environmental remediation” costs to clean up, treat, or remove hazardous substances at current or former 3M manufacturing or third-party sites.

As of September 30, 2025, the Company had recorded liabilities of $ 39 million for estimated non-PFAS related “environmental remediation” costs to clean up, treat, or remove hazardous substances at current or former 3M manufacturing or third-party sites.

The Company evaluates available facts with respect to each individual site each quarter and records liabilities for remediation costs on an undiscounted basis when they are probable and reasonably estimable, generally no later than the completion of feasibility studies or the Company’s commitment to a plan of action.

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With a 98 % participation threshold having been met, the Company began making payments pursuant to the payment schedule set forth in the amended settlement agreement.

The current claimant participation level under the settlement agreement (including claims dismissed with prejudice) exceeds 99 %;

however, existing or new litigation may continue in the United States and internationally relating to the products that are the subject of the settlement.

For example, the Company is aware of a writ of summons that was filed in Australia on behalf of purported users of the Company's earplug products.

During the first six months of 2025, the Company increased its existing accrual for CAE by approximately $ 87 million primarily for interest accretion on the CAE Settlement and made related payments of approximately $ 1.4 billion.

As of June 30, 2025, the Company had an accrued liability of $ 2.4 billion related to CAE.

On September 19, 2025, the court overseeing the CAE Multidistrict Litigation issued an order announcing that all cases in the MDL had been resolved through dismissals or through the Settlement Agreement, and that no cases remain pending in the MDL.

However, existing or new litigation may continue or be filed in the United States or internationally relating to the products that are the subject of the settlement.

For example, the Company is aware of a writ of summons filed in Australia and has received a Letter Before Action in the United Kingdom, both on behalf of purported users of the Company's earplug products.

During the first nine months of 2025, the Company increased its existing accrual for CAE by approximately $ 0.2 billion primarily for interest accretion on the CAE Settlement and made related payments of approximately $ 1.4 billion.

As of September 30, 2025, the Company had an accrued liability of $ 2.5 billion related to CAE.

This amount is reflected within contingent liability claims and other ($ 1.3 billion within other current liabilities and $ 1.2 billion within other liabilities) on 3M’s consolidated balance sheet.

5 unchanged sentences

courts, arbitration proceedings, mediations, and negotiations with insurers.

During the second quarter of 2025, the Company recorded $ 59 million in insurance recovery benefits related to respirator mask/asbestos, CAE, and PFAS-related matters.

The Company's aggregate recovery benefits for these matters during the first six months of 2025 was $ 85 million.

During the third quarter of 2025, the Company recorded $ 182 million in insurance recovery benefits related to respirator mask/asbestos, CAE, and PFAS-related matters.

The Company's aggregate recovery benefits for these matters during the first nine months of 2025 was $ 267 million.

Insurance recoveries related to CAE litigation are provided to the Qualified Settlement Fund as part of the consideration for the settlement.

20 unchanged sentences

Capitalized stock-based compensation amounts were not material.

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

(Millions) 2025 2024 2025 2024

21 unchanged sentences

Business Segment Information

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

Net sales (millions) 2025 2024 2025 2024

26 unchanged sentences

Loss on business divestitures ( 161 ) — ( 164 ) —

Transformation costs ( 14 ) — ( 14 ) —

Total corporate special items ( 97 ) ( 25 ) ( 501 ) ( 116 )

5 unchanged sentences

Depreciation and amortization

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

(Millions) 2025 2024 2025 2024

5 unchanged sentences

Capital expenditures

Three months ended June 30, Six months ended June 30,

Three months ended September 30, Nine months ended September 30,

(Millions) 2025 2024 2025 2024

4 unchanged sentences

Total continuing operations $ 218 $ 246 $ 662 $ 813

(Millions) June 30, 2025 December 31, 2024

(Millions) September 30, 2025 December 31, 2024

Business segment assets:

13 unchanged sentences

Corporate and Other operating income (loss) includes:

• Corporate special items includes, for the periods presented:

• Corporate special items include, for the periods presented:

◦ net costs for significant litigation impacting operating income (loss) associated with PFAS-related other environmental and Combat Arms Earplugs matters,

◦ loss on business divestitures (see Note 4).

◦ divestiture costs (related to separating and divesting substantially an entire business segment of 3M following public announcement of its intended divestiture) that were not eligible to be part of discontinued operations.

◦ loss on business divestitures (see Note 4) divestiture costs (related to separating and divesting substantially an entire business segment of 3M following public announcement of its intended divestiture) that were not eligible to be part of discontinued operations, and

◦ transformation program restructuring (see Note 6) and related charges.

• Other corporate (expense) income-net includes:

1 unchanged sentence

◦ commercial activity with Solventum following its April 1, 2024 Separation and certain operations of the former Health Care business segment retained by 3M,

◦ transition arrangement agreements (e.g.

fees charged by 3M, net of underlying costs) related to divested businesses, including those related to the Solventum Separation.

◦ operations of businesses of the former Health Care segment divested prior to the Separation and therefore not reflected as discontinued operations within 3M's financial statements, along with limited-duration supply agreements with previous divestitures.

◦ transition arrangement agreements (e.g., fees charged by 3M, net of underlying costs) related to divested businesses, including those related to the Solventum Separation,

◦ costs previously allocated to Solventum prior to the Separation that were not eligible to be part of discontinued operations.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements