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Summary of 3M Settlement

In December 2010, the State of Minnesota filed a lawsuit against 3M Company seeking payment for natural resource damages caused by 3M’s disposal of perflourochemicals, or PFCs, in the East Metropolitan Area of the Twin Cities in Minnesota. The lawsuit was brought by the Attorney General and the Minnesota Commissioners of Pollution Control ("MPCA") and Natural Resources ("DNR"), acting as trustees for the State of Minnesota’s natural resources. On February 20, 2018, the parties entered into an Agreement and Order ("Agreement") to settle the lawsuit. That same day, the Hennepin County District Court approved the Agreement and entered it as an order of the court. The Agreement required 3M Company to pay $850 million to the State of Minnesota in the form of a restricted grant, which will be administered and implemented by MPCA and DNR. Additional information on the Agreement and how the grant funds will be used may be found on MPCA and DNR's joint website.