Smiths : 2020 Annual General Meeting Presentation

www.smiths.com

SMITHS GROUP PLC ANNUAL GENERAL MEETING

16 NOVEMBER 2020

DISCLAIMER

This presentation contains certain statements that are forward-looking statements. They appear in a number of places throughout this presentation and include statements regarding the intentions, beliefs and/or current expectations of Smiths Group plc (the "Company") and its subsidiaries (together, the "Group") and those of their respective officers, directors and employees concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth, strategies and the businesses operated by the Group. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this presentation and, unless otherwise required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements. Nothing in this presentation should be construed as a profit forecast. The Company and its directors accept no liability to third parties. This presentation contains brands that are trademarks and are registered and/or otherwise protected in accordance with applicable law.

2 SMITHS GROUP PLC | AGM 2020

Chairman of the meeting

MARK SELIGMAN

3 SMITHS GROUP PLC | AGM 2020

Chairman's address

SIR GEORGE BUCKLEY CHAIRMAN

4 SMITHS GROUP PLC | AGM 2020

Chief Executive's review

ANDY REYNOLDS SMITH CHIEF EXECUTIVE

5 SMITHS GROUP PLC | AGM 2020

Q1 Trading Update

A good 1st quarter trading performance showing strength and resilience

Continuing Operations1 revenue down (2)%

Smiths Medical2 revenue up 4%

Continued strong cash generation

Performance underpins the Group's confidence in meeting FY market expectations

1. Continuing operations exclude Smiths Medical which is accounted for as 'discontinued operations - businesses held for distribution'
2. Underlying modifies headline performance to exclude the effects of foreign exchange

6 SMITHS GROUP PLC | AGM 2020

FY2020 review - Leading now and in the future

A robust FY2020 - strong operationally, financially and strategically

Leading now - managing well through the uncertainty, executing the strategic restructuring programme and further portfolio upgrading

Leading in the future - strengthened position for consistent market outperformance

7 SMITHS GROUP PLC | AGM 2020

Putting our people and customers first

Safety of our people at the centre of everything we do

Smiths Excellence System supporting very strong business continuity throughout the pandemic

Exceptional customer service and deliveries

Supporting the fight against COVID-19 with Medical critical care products

8 SMITHS GROUP PLC | AGM 2020

Executing the strategic restructuring programme

Pulls together existing initiatives across the Group globally

Further improving business efficiency and speed long term

Accelerates progress to our 18-20% target margin range with 200bps margin improvement in FY22

Ensuring we are better positioned for long-term growth and outperformance

Continued focus on optimising performance

9 SMITHS GROUP PLC | AGM 2020

Smiths Medical

Further progress in growth and margin improvement plan with third consecutive quarter of growth

Significant agreement with U.S. government for syringe and needle production to support COVID-19 vaccine efforts

New product launch program delivering results

Separation was delayed during crisis - intention to complete during FY21 unchanged

Creating two stronger companies

10 SMITHS GROUP PLC | AGM 2020

Continued portfolio strengthening

Organic growth complemented	DISPOSALS		ACQUISITIONS			TRANSACTIONS
			total value c.£1.5bn
by disciplined M&A	11c.£535m proceeds		10 for c.£965m	=	21
	(FY16-FY20)

Smiths Detection - PathSensors		Smiths Medical -		Smiths Interconnect - Reflex
			Access Scientific		Photonics
- August 2020		- May 2020		- October 2019
-	Complements and accelerates		-	Extends portfolio of vascular access		-	Enhances our technological
	biological capability to detect			solutions			leadership in shock-resistant fibre
	pathogens		-	Enhance infection protection			optics
-	Broad end-market applications			capabilities		-	Broad end-market applications

11 SMITHS GROUP PLC | AGM 2020

Designed to outperform

Resilient characteristics:

Technology differentiation

Digitisation

High proportion of aftermarket services

Sustainably competitive and capital light

Well positioned in long-term, attractive growth markets

A culture of innovation, operational excellence and great people

Continued portfolio optimisation

Organic growth complemented by disciplined M&A

12 SMITHS GROUP PLC | AGM 2020

Poll vote resolutions

1. Adoption of Annual Report FY2020
2. Approval of Directors' Remuneration Report
3. Declaration of a final dividend
4. Election of Pam Cheng as a director
5. Election of Karin Hoeing as a director
6. Re-electionof Sir George Buckley as a director
7. Re-electionof Dame Ann Dowling as a director
8. Re-electionof Tanya Fratto as a director
9. Re-electionof William Seeger as a director
10. Re-electionof Mark Seligman as a director
11. Re-electionof John Shipsey as a director

1. Re-electionof Andrew Reynolds Smith as a director
2. Re-electionof Noel Tata as a director
3. Appointment of KPMG LLP as auditors
4. Auditors' remuneration
5. Authority to issue shares
6. Authority to disapply pre-emption rights
7. Additional authority to disapply pre-emption rights
8. Authority to make market purchases of shares
9. Authority to call general meetings on short notice
10. Authority to make political donations and expenditure

13 SMITHS GROUP PLC | AGM 2020

www.smiths.com

QUESTIONS & ANSWERS

Proxy votes cast

327 million proxy votes cast

86.6% of the issued share capital

Continued strong support - full results will be available on the website

15 SMITHS GROUP PLC | AGM 2020

www.smiths.com

MAKING A SAFER, MORE EFFICIENT

AND BETTER CONNECTED WORLD