Press Release

Medtronic Announces Cash Dividend for Second Quarter of Fiscal Year 2013

MINNEAPOLIS – August 23, 2012 – The board of directors of Medtronic, Inc. (NYSE:MDT) today approved a cash dividend of $0.26 per share of the company’s common stock. The quarterly dividend represents a 7 percent increase over the prior year. The dividend is payable on October 26, 2012, to shareholders of record at the close of business on October 5, 2012. Medtronic, a constituent of the S&P 500 Dividend Aristocrat index, has committed to returning 50 percent of its free cash flow to shareholders through dividends and share repurchases.

About Medtronic
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology – alleviating pain, restoring health, and extending life for millions of people around the world.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward-looking statements.

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Medtronic Media Contacts:
Amy von Walter, Public Relations, 763-505-3780
Jeff Warren, Investor Relations, 763-505-2696
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