1、Annual ReportFiscalYear 20222022 LETTER TO SHAREHOLDERSGeoff MarthaChairman&CEOOct.10,2022Dear Shareholders,For decades,the Medtronic Mission has been carried out by tens of thousands of employees around the world.Alleviatingpain,restoring health,and extending life remains our core purpose,and despi
2、te FY22 headwinds,our people remainedresolute in their commitment to our enduring Mission.Our origin story is one of collaboration between an engineer and a physician,and our 95,000+employees continue toembody the innovative spirit of our founders.I would be remiss if I didnt begin with heartfelt th
3、anks for their tireless work onbehalf of our partners,customers,and patients.The Medtronic Board of Directors and Executive Committee are actively engaged in strategic oversight,including trackingour progress against long-term goals,and they deserve special thanks for their guidance,focus,and suppor
4、t as we moveforward.A YEAR OF PURPOSEFUL PROGRESS,DESPITE UNCERTAINTIESFY22 has been a year of uncertainties,with inflation,global supply chain challenges,a potential recession,and continuedripple effects from the pandemic impacting the global economy.But our business the business of delivering life
5、-saving healthcare technology is vitally important in good times and in bad.As the growing and aging human population increases,technology becomes even more important in addressing healthcareneeds.And each year,advancements in materials and data science many of which are shaped by legions of Medtron
6、ictechnical experts and scientists truly transform what technology can do for healthcare.Our place at the nexus of healthcare and technology coupled with our depth of expertise,diversified businesses,robustpipeline,strong balance sheet,and,most importantly,our visionary Mission means we are well-pos