Fernando Vivanco Ryan Weispfenning Public Relations Investor Relations +1-763-505-3780 +1-763-505-4626 FOR IMMEDIATE RELEASE Medtronic Announces the Upsizing of its Maximum Tender Offers for Certai

FOR IMMEDIATE RELEASE

Medtronic Announces the Upsizing of its Maximum Tender Offers for Certain Outstanding Debt Securities Issued by Medtronic, Inc. and Covidien International Finance S.A.

DUBLIN March 4, 2019 Medtronic plc (the Company ) (NYSE: MDT) today announced the upsizing of the previously-announced cash tender offers by its wholly-owned subsidiaries, Medtronic, Inc. and Covidien International Finance S.A. ( CIFSA and, together with Medtronic, Inc., the Offerors ) for up to $1.9 billion combined aggregate purchase price (excluding accrued and unpaid interest to, but not including, the applicable settlement date and excluding fees and expenses related to the tender offers) (the Maximum Tender Offers ) for the series of notes that are subject to the Maximum Tender Offers (the Maximum Tender Offer Notes ) as set forth in the Offer to Purchase, dated February 20, 2019 (the Offer to Purchase ). The Offerors are increasing the aggregate maximum purchase price from $1.9 billion to $3.7 billion (the Aggregate Maximum Purchase Price ) and the Series Tender Cap applicable to CIFSA s 6.550% Senior Notes due 2037 as described in the Offer to Purchase from $75.0 million to $90.0 million. The terms of the tender offers (the Any and All Tender Offers and, collectively with the Maximum Tender Offers, the Tender Offers ) for any and all of the $3.1 billion in aggregate principal amount of the other two series of notes of the Offerors described in the Offer to Purchase (the Any and All Notes and, collectively with the Maximum Tender Offer Notes, the Notes ) remain unchanged. The Offerors reserve the right, subject to applicable law, to further increase or waive the Aggregate Maximum Purchase Price or the Series Tender Cap.

The Offerors acceptance of the Notes is subject to a financing condition that the Offerors shall have closed one or more debt financings resulting in net proceeds to the Offerors in an amount not less than the amount required, upon the terms and subject to the conditions of the applicable Tender Offer, to purchase all the Notes validly tendered and accepted for purchase in the Tender Offers and to pay accrued interest thereon and fees and expenses associated therewith.

Information Relating to the Tender Offers

Barclays Capital Inc. and BofA Merrill Lynch are acting as the dealer managers (the Dealer Managers ) for the Tender Offers. The information agent and tender agent is Global Bondholder Services Corporation ( Global Bondholder ). Copies of the Offer to Purchase and related offering materials are available by contacting Global Bondholder at (866) 470-4200 (U.S. toll-free) or (212) 430-3774 (banks and brokers). Questions regarding the Tender Offers should be directed to Barclays Capital Inc., Liability Management Group at (212) 528-7581 (collect) or (800) 438-3242 (toll free) or BofA Merrill Lynch, Liability Management Group, at (980) 387-3907 (collect) or (888) 292-0070 (toll-free).

This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offers are being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.

About Medtronic

Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world s largest medical technology, services and solutions companies alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 86,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.

This press release contains forward-looking statements that are not historical in nature. Such forward looking statements are subject to risks and uncertainties, including the risks related to the acceptance of any tendered Notes, the expiration and settlement of the Tender Offers, the satisfaction of conditions to the Tender Offers, whether the Tender Offers will be consummated in accordance with terms set forth in the Offer to Purchase or at all and the timing of any of the foregoing, competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, government regulation and general economic conditions and other risks and uncertainties described in the Company s periodic reports on file with the U.S. Securities and Exchange Commission including the most recent Annual Report on Form 10-K of the Company, as filed with the U.S. Securities and Exchange Commission. In some cases, you can identify these statements by forward-looking words, such as anticipate, believe, could, estimate, expect, forecast, intend, looking ahead, may, plan, possible, potential, project, should, will, and similar words or expressions, the negative or plural of such words or expressions and other comparable terminology. Actual results may differ materially from anticipated results. None of Medtronic plc, Medtronic, Inc., or Covidien International Finance, S.A. undertakes to update its forward-looking statements or any of the information contained in this press release, including to reflect future events or circumstances.