AI Content Chat (Beta) logo

Q4 2022 Financial & Operational Highlights

Q4 2022 Highlights February 1, 2023 1 Q4 2022 Financial & Operational Highlights | February 1, 2023

Safe Harbor for Forward-Looking Statements and Use of Document Safe Harbor for forward-looking statements: This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "may," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our expected net sales; reported, operational and organic revenue growth rates; reported and adjusted EPS for the first quarter and full year 2023; our financial performance; our business plans and product performance, and new and anticipated product approvals and launches. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this presentation. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. Factors that may cause such differences can be found in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed or to be filed with the Securities and Exchange Commission under the headings “Risk Factors” and “Safe Harbor for Forward-Looking Statements.” Accordingly, you are cautioned not to place undue reliance on any of our forward-looking statements. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which they may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. Non-GAAP Measures: This document contains non-GAAP measures (denoted with *) in talking about our Company’s performance. The reconciliations of those non-GAAP measures to their most comparable GAAP measures are contained within this document including appendices attached to the end of this presentation or in our earnings release. Operational net sales growth excludes the impact of foreign currency fluctuations. Organic net sales growth excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales. We measure and evaluate our reportable segments based on their respective net sales, operating income, excluding intersegment profits, and operating income as a percentage of net sales, all excluding the impact of foreign currency. We exclude from operating income of reportable segments certain corporate-related expenses and certain transactions or adjustments considered to be non-operational. Please refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recent Annual Report filed on Form 10-K filed with the Securities and Exchange Commission or any Quarterly Report on Form 10-Q that we file thereafter for an explanation of each of these adjustments and the reasons for excluding each item. Adjusted EPS excludes the impacts of certain charges (credits) which may include amortization expense, goodwill and intangible asset impairment charges, acquisition/divestiture-related net charges (credits), investment portfolio gains and losses, restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits), EU MDR implementation costs, debt extinguishment charges, deferred tax expenses (benefits) and discrete tax items. Emerging Markets: We define Emerging Markets as the 20 countries that we believe have strong growth potential based on their economic conditions, healthcare sectors and our global capabilities. Other sales: Presented throughout this document is a sales category titled Other (denoted with †). In 2022, this reflects sales reserves established for Italian government payback provisions, not allocated to our reportable segments. In 2021 and 2020, this includes net sales associated with Specialty Pharmaceuticals prior to the sale of the business on March 1, 2021. Specialty Pharmaceuticals net sales were substantially U.S. based and presented as a stand-alone operating segment alongside our medical device reportable segments. Use of document: This document contains certain highlights with respect to our fourth quarter 2022 performance and developments and does not purport to be a complete summary of thereof. Accordingly, we encourage you to read our Earnings Release for the quarter ended December 31, 2022 located in the investor section of our website at www.bostonscientific.com and our Annual Report on Form 10-K for the year ended December 31, 2022 to be filed with the Securities and Exchange Commission. Amounts reported in millions within this presentation are computed based on the amounts in thousands. As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in dollars. 2 Q4 2022 Financial & Operational Highlights | February 1, 2023

Q4 2022 Highlights Operational Highlights Financial Results • Received approval from the Japanese Pharmaceuticals and Medical † • Net sales growth : Devices Agency (PMDA) for the AGENT™ Drug Coated Balloon (DCB) in Japan to treat patients with in-stent restenosis (ISR) and coronary small • +3.7% reported, +8.7% operational*,+7.1% organic* vessel disease (SVD), with launch anticipated in the first half of this year. Y/Y • Completed enrollment in the CHAMPION-AF clinical trial, evaluating the † safety and efficacy of the WATCHMAN FLX™ Left Atrial Appendage • Earnings per share : Closure Device compared to non-vitamin K antagonist oral • As reported: $0.09 vs. $0.06 Q4:21 anticoagulants for stroke prevention in a broad population of patients with non-valvular atrial fibrillation. • Adjusted*: $0.45 vs. $0.45 Q4:21 † • Completed enrollment in this SOLIS clinical trail to assess WaveWriter • Gross margin : Spinal Cord Stimulator Systems (SCS) for the treatment of patients with • As reported: 68.8%, (10) bps Y/Y chronic low back and/or leg pain who have not undergone spinal surgery. The study met its primary endpoint; SCS demonstrated superior • Adjusted*: 70.5%, (40) bps Y/Y outcomes compared with Conventional Medical Management (CMM) † at three-month follow-up. • Operating margin : • Began enrollment in the ACURATE Prime XL Nested Registry, which is • As reported: 12.4%, +660 bps Y/Y designed to assess outcomes from patients receiving the larger ACURATE • Adjusted*: 25.7%, (50) bps Y/Y Prime™ Aortic Valve XL within the ACURATE IDE clinical study in the U.S. Also announced, at PCR London Valves, late-breaking data from the • Q1 2023 guidance vs. Q1 2022: European ACURATE neo2 Post Market Clinical Follow-up study supporting • As reported net sales growth: 3% - 5% the clinical procedural success and safety of the ACURATE neo2™ Aortic Valve System. • As reported EPS: $0.23 - $0.26 • Presented positive late-breaking data from the ELEGANCE registry at the • Organic* net sales growth: 6% - 8% 2022 VIVA conference, which highlighted that the study is currently • Adjusted EPS*: $0.42 - $0.44 exceeding its goal to increase the representation of women and underrepresented minorities in clinical trials for drug-eluting peripheral • FY 2023 guidance vs. FY 2022: therapies. • As reported net sales growth: 5% - 7% • Announced agreement to acquire Apollo Endosurgery, Inc. (Nasdaq: • As reported EPS: $1.11 - $1.21 APEN), subject to customary closing conditions, to expand the Boston Scientific endoluminal surgery portfolio and enable a measured entry • Organic* net sales growth: 6% - 8% into the endobariatric market. • Adjusted EPS*: $1.86 - $1.93 • Announced strategic investment to acquire majority stake in Acotec † Included within Q4 results is a ($60M) unplanned reserve established in connection with the activation of the Italian Scientific Holdings Limited, a Chinese medical technology company that government payback provision, aimed at rationalizing public spending and requiring medical device companies to offers solutions designed for a variety of interventional procedures, pay back a portion of spend exceeding allocated healthcare budgets expected to close in 1H:2023, subject to customary closing conditions. 3 Q4 2022 Financial & Operational Highlights | February 1, 2023

WW Net Sales by Segment and Business † Q4 2022 Reported Net Sales: $3,242M Revenue by Business; Segment Percentage of Total Net Sales MedSurg 40% NM Cardiology $249M $167M EP Uro $477M $521M CRM Cardiology $280M Watchman $1,529M ICTx $561M Endo $571M PI $476M Cardiovascular 62% 4 Q4 2022 Financial & Operational Highlights | February 1, 2023

MedSurg Performance Summary Measure Q4 2022 Q4 2021 Change Y/Y ($ in millions) Reported Net Sales $1,297M $1,243M +4.4% Operating Income* % 33.7% 32.6% +100 bps * Represents operating income as a percentage of operational net sales, both excluding the impact of foreign currency, which is a non-GAAP measure. Q4 + FY 2022 Highlights • Endoscopy: Q4:22 Global net sales +2.4% as reported, +7.4% operational*/organic*; FY:22 Global net sales +3.7% as reported, +8.1% operational*/organic* ◦ Strong global success supported by innovative products, AXIOS™ and Single-Use-Imaging, both growing over 20% in 2022. ◦ Announced agreement to acquire Apollo Endosurgery, which adds a complementary and innovative endoluminal surgery portfolio; we expect to close this transaction as well as our majority stake investment in MI Tech in 1H:23. • Urology: Q4:22 Global net sales +8.2% as reported, +11.8% operational*/organic*; FY:22 Global net sales +12.0% as reported, +14.9% operational*, +9.7% organic* ◦ Double digit growth across all franchises in Q4 fueled by new and ongoing product launches and continued global expansion. ◦ Full year performance driven by global strength of key products such as LithoVue™, Rezūm™, and SpaceOAR™ as well as the acquisition of Lumenis and the Moses Laser technology. • Neuromodulation: Q4:22 Global net sales +2.1% as reported, +4.9% operational*/organic*; FY:22 Global net sales +0.9% as reported, +3.5% operational*/organic* ◦ Q4 global SCS growth of 4%, with differentiated offerings, including Wavewriter Alpha™, FAST, and our Cognita practice optimization suite of tools. ◦ The Brain franchise grew double digits in Q4 and low-double digits in FY:22, with continued momentum from 2022 new product launches and the recent launch of the Vercise™ 2 in 1 lead extension. 5 Q4 2022 Financial & Operational Highlights | February 1, 2023

Cardiovascular Performance Summary Measure Q4 2022 Q4 2021 Change Y/Y ($ in millions) Reported Net Sales $2,005M $1,884M +6.4% Operating Income* % 25.9% 22.2% +400 bps * Represents operating income as a percentage of operational net sales, both excluding the impact of foreign currency, which is a non-GAAP measure. Q4 + FY 2022 Highlights • Cardiology: Q4:22 Global net sales +7.5% as reported, +13.2% operational*, +9.6% organic*'; FY:22 Global net sales +9.4% as reported, +14.5% operational*, +10.4% organic* ◦ Interventional Cardiology: Q4:22 Global net sales -2.4% as reported, +5.2% operational*/organic*; FY:22 Global net sales +0.9% as reported, +7.5% operational*/organic* ▪ Coronary Therapies franchise grew 7%, with strong performance in international regions and Imaging franchise. ▪ The Structural Heart Valves franchise grew double digits in Q4 and FY:22, outpacing the market in Europe with ACURATE Neo2™. ◦ Watchman: Q4:22 Global net sales +20.5% as reported, +21.9% operational*/organic*; FY:22 Global net sales +22.9% as reported, +24.0% operational*/organic* ▪ Q4 finished with record sales and strong utilization in the U.S., supported by DAPT label expansion. ◦ Cardiac Rhythm Management: Q4:22 Global net sales +1.3% as reported, +5.8% operational*/organic*; FY:22 Global net sales +4.0% as reported, +8.3% operational*, +6.7% organic* ▪ Double digit, full year growth versus 2021 in the Diagnostics franchise driven by differentiated and broad portfolio. ▪ In Core CRM, our high-voltage franchise grew low-single digits, and low-voltage franchise grew mid-single digits on a full year basis. ◦ Electrophysiology: Q4:22 Global net sales +66.7% as reported, +76.4% operational*, +25.1% organic*; FY:22 +60.2% as reported, +68.9% operational*, +17.8% organic* ▪ OUS EP business continues to outpace the market, growing 40% organically in Q4 versus 2021, supported by strength in POLARx™ and Farapulse™. ▪ The Baylis acquisition continues to perform well, with the innovative VersaCross Transseptal Access Platform growing 2 times faster than the market in 2022. • Peripheral Interventions: Q4:22 Global net sales +3.0% as reported, +8.8% operational*/organic*; FY:22 Global net sales +4.4% as reported, +9.1% operational*/organic* ◦ Our Drug-Eluting portfolio grew strong double digits in 2022 and achieved the #1 position within the Superficial femoral artery (SFA) in the U.S. ◦ Interventional Oncology franchise grew low-double digits; led by our portfolio of innovative cancer therapies and our suite of embolization tools. ◦ Varithena™ grew over 20% in 2022, gaining share with its innovative approach to treating venous insufficiency. 6 Q4 2022 Financial & Operational Highlights | February 1, 2023

Q4 & FY 2022 Net Sales vs. 2021 Organic* Growth Q4:22 Reported Net Sales FY:22 Reported Net Sales vs Q4:21 vs FY:21 ($ in millions) Endoscopy $571 $2,221 7% 8% Urology $477 $1,773 12% 10% Neuromodulation $249 $917 5% 3% MedSurg $1,297 $4,911 8% 8% Interventional Cardiology Therapies $561 $2,228 5% 8% Watchman $280 $1,019 22% 24% Cardiac Rhythm Management $521 $2,100 6% 7% Electrophysiology $167 $585 25% 18% Cardiology $1,529 $5,932 10% 10% Peripheral Interventions $476 $1,899 9% 9% Cardiovascular $2,005 $7,831 9% 10% $3,302 $12,742 9% 9% † Other $(60) $(60) (100)% (+100)% Total Company $3,242 $12,682 7% 9% Guidance Range 7 to 9 percent ~9 percent Disclosed October 26, 2022 Q4 2022 organic* growth vs. 2021 excludes: FY 2022 organic* growth vs. FY 2021 excludes: ◦ Baylis Medical Company, Inc., acquired February 14, 2022 ◦ Preventice Solutions, Inc., acquired March 1, 2021 ◦ Specialty Pharmaceuticals business, divested March 1,2021 ◦ Farapulse, Inc. acquired August 6, 2021 ◦ The surgical business of Lumenis LTD., acquired September 1, 2021 ◦ Baylis Medical Company, Inc., acquired February 14, 2022 7 Q4 2022 Financial & Operational Highlights | February 1, 2023

Living Our Values: ESG Update Kathryn Unger named Dow Jones Sustainability Index Science-Based Targets Approved Vice President of ESG North America As an important milestone in our journey to net- zero, our emission reduction targets have been approved by the Science-Based Targets initiative (SBTi). This makes Boston Scientific one of the Boston Scientific was named to the 2022 We recently announced the appointment of Kathryn first companies in the Healthcare Equipment and Dow Jones Sustainability Index (DJSI) for Unger as vice president, Environmental, Social, Supplies sector to have net-zero, science-based North America for the third consecutive year. Governance (ESG). Scope 1, 2 and 3 targets verified under the SBTi Net-Zero Standard. To learn more about our ESG performance, visit To learn more,visit our newsroom To learn more, visit our Corporate responsibility our ESG website website RECENT AWARDS Newsweek America's Greatest Forbes World's Best Employer Seramount Inclusion Index Workplaces for Diversity 8 Q4 2022 Financial & Operational Highlights | February 1, 2023

Income Statement Information Non-GAAP Reconciliation Three Months Ended December 31, 2022 (unaudited) Acquisition Restructuring / and Intangible Divestitures- Restructuring Litigation- Investment Asset Related -Related Net Related Net Portfolio EU MDR Debt Deferred Tax GAAP Amortization Impairment Charges Charges Charges Net Losses Implementation Extinguishment Expenses Discrete Tax Adjusted* In millions, except per share data Results Expense Charges (Credits) (Credits) (Credits) (Gains) Costs Charges (Benefits) Items Results Net sales $ 3,242 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 3,242 Cost of products sold 1,011 — — 24 16 — — 13 — — — 957 Gross profit 2,231 — — (24) (16) — — (13) — — — 2,285 Gross margin 68.8 % 70.5 % Selling, general and administrative expenses 1,163 — — 29 6 — — 0 — — — 1,127 SG&A as a percentage of sales 35.9 % 34.8 % Research and development expenses 330 — — 12 — — — 6 — — — 312 R&D as a percentage of sales 10.2 % 9.6 % Royalty expense 13 — — — — — — — — — — 13 Royalty expense as a percentage of sales 0.4 % 0.4 % Amortization expense 199 199 — — — — — — — — — — Intangible asset impairment charges — — — — — — — — — — — — Contingent consideration net expense (benefit) (33) — — (33) — — — — — — — — Restructuring net charges (credits) 6 — — — 6 — — — — — — — Litigation-related net charges (credits) 131 — — — — 131 — — — — — — Losses (gains) on disposal of businesses and assets 22 — — 22 — — — — — — — — 1,830 199 — 29 12 131 — 6 — — — 1,452 Operating Income (loss) 402 (199) — (53) (28) (131) — (19) — — — 833 Operating margin 12.4 % 25.7 % Other income (expense): Interest expense (64) — — — — — — — — — — (64) Other, net 58 — — 44 — — 38 — — — — (23) Income (loss) before taxes 396 (199) — (9) (28) (131) 38 (19) — — — 745 Income tax expense (benefit) 256 (24) (1) 50 (3) (30) 6 (2) 0 42 129 89 Net Income (loss) 140 (175) 1 (59) (25) (101) 32 (17) (0) (42) (129) 656 Preferred stock dividends (14) (14) Net Income (loss) available to common stockholders $ 126 $ (175) $ 1 $ (59) $ (25) $ (101) $ 32 $ (17) $ (0) $ (42) $ (129) $ 642 Net Income (loss) per diluted common share $ 0.09 $ (0.12) $ — $ (0.04) $ (0.02) $ (0.07) $ 0.02 $ (0.01) $ (0.00) $ (0.03) $ (0.09) $ 0.45 Weighted average diluted shares outstanding 1,442.4 1,442.4 1,442.4 1,442.4 1,442.4 1,442.4 1,442.4 1,442.4 1,442.4 1,442.4 1,442.4 1,442.4 For the three months ended December 31, 2022, the effect of assuming the conversion of Mandatory Convertible Preferred Stock (MCPS) into shares of common stock was anti-dilutive, and therefore excluded from the calculation of EPS. Accordingly, GAAP net income and adjusted net income were reduced by cumulative Preferred stock dividends, as presented in our unaudited consolidated statements of operations, for purposes of calculating net income available to common stockholders. 9 Margin rates are based on actual, non-rounded amounts and may not recalculate precisely. Q4 2022 Financial & Operational Highlights | February 1, 2023

Income Statement Information Non-GAAP Reconciliation Year Ended December 31, 2022 (unaudited) Acquisition Restructuring / and Intangible Divestitures- Restructuring Litigation- Investment Asset Related -Related Net Related Net Portfolio EU MDR Debt Deferred Tax GAAP Amortization Impairment Charges Charges Charges Net Losses Implementation Extinguishment Expenses Discrete Tax Adjusted* In millions, except per share data Results Expense Charges (Credits) (Credits) (Credits) (Gains) Costs Charges (Benefits) Items Results Net sales $ 12,682 — — — — — — — — — — $ 12,682 Cost of products sold 3,956 — — 97 65 — — 46 — — — 3,747 Gross profit 8,727 — — (97) (65) — — (46) — — — 8,935 Gross margin 68.8 % 70.5 % Selling, general and administrative expenses 4,520 — — 110 21 — — 2 — — — 4,387 SG&A as a percentage of sales 35.6 % 34.6 % Research and development expenses 1,323 — — 40 — — — 24 — — — 1,260 R&D as a percentage of sales 10.4 % 9.9 % Royalty expense 47 — — — — — — — — — — 47 Royalty expense as a percentage of sales 0.4 % 0.4 % Amortization expense 803 803 — — — — — — — — — — Intangible asset impairment charges 132 — 132 — — — — — — — — — Contingent consideration net expense (benefit) 35 — — 35 — — — — — — — — Restructuring net charges (credits) 24 — — — 24 — — — — — — — Litigation-related net charges (credits) 173 — — — — 173 — — — — — — Losses (gains) on disposal of businesses and assets 22 — — 22 — — — — — — — — 7,078 803 132 206 45 173 — 25 — — — 5,694 Operating Income (loss) 1,649 (803) (132) (303) (110) (173) — (71) — — — 3,241 Operating margin 13.0 % 25.6 % Other income (expense): Interest expense (470) — — — — — — — (194) — — (276) Other, net (38) — — 18 — — 30 — — — — (86) Income (loss) before taxes 1,141 (803) (132) (285) (110) (173) 30 (71) (194) — — 2,880 Income tax expense (benefit) 443 (109) (29) 53 (14) (40) 2 (10) (45) 140 129 366 Net Income (loss) $ 698 $ (694) $ (102) $ (338) $ (96) $ (133) $ 28 $ (62) $ (149) $ (140) $ (129) $ 2,514 Preferred stock dividends (55) $ (55) Net Income (loss) available to common stockholders 642 $ (694) $ (102) $ (338) $ (96) $ (133) $ 28 $ (62) $ (149) $ (140) $ (129) $ 2,459 Net Income (loss) per diluted common share $ 0.45 $ (0.48) $ (0.07) $ (0.24) $ (0.07) $ (0.09) $ 0.02 $ (0.04) $ (0.10) $ (0.10) $ (0.09) $ 1.71 Weighted average diluted shares outstanding 1,439.7 1,439.7 1,439.7 1,439.7 1,439.7 1,439.7 1,439.7 1,439.7 1,439.7 1,439.7 1,439.7 1,439.7 For the year ended December 31, 2022, the effect of assuming the conversion of MCPS into shares of common stock was anti-dilutive, and therefore excluded from the calculation of EPS. Accordingly, GAAP net income and adjusted net income were reduced by cumulative Preferred stock dividends, as presented in our unaudited consolidated statements of operations, for purposes of calculating net income available to common stockholders. 10 Margin rates are based on actual, non-rounded amounts and may not recalculate precisely. Q4 2022 Financial & Operational Highlights | February 1, 2023

Working Capital & Cash Flow Metrics Days Sales Outstanding (DSO) Adjusted Free Cash Flow* Dec Sept Jun Mar Dec Q4 Q4 FY2022 FY2021 2022 2022 2022 2022 2021 2022 2021 56 54 54 55 52 $776M $425M $2,066M$2,192M Days Inventory on Hand (DIOH) Capital Expenditures Dec Sept Jun Mar Dec Q4 Q4 FY2022 FY2021 2022 2022 2022 2022 2021 2022 2021 170 168 158 164 152 $212M $266M $588M $554M 11 Q4 2022 Financial & Operational Highlights | February 1, 2023

Weighted Average Diluted Shares Preferred Dividend to Retire June 1, 2023 Expected Dividend and Share Count P&L Impact: (in millions) BSX Dividend / Share Count Q4:22 FY:22 FY:23E ƚ Preferred Dividend $13.8 $55.3 1H: $23 / 2H: $0 Weighted Average Diluted Shares (excl. issuance) 1,413 1,410 Common Stock Issuance 29 29 Q2 2022 Highlights If price > $41.96, 23.98M shares convert MCPS Issuance (effective June 1, 2023) If price < $34.25, 29.38M shares convert If $34.25 < price < $41.96, then >23.98M but <29.38M shares convert Expected Weighted Average ƚƚƚ 1,442 1,440 Share conversion = $1,006.3M / share price Diluted Shares ƚ Five months paid of annual preferred dividend at 5.5% per annum per share. ƚƚ The dilutive effect of MCPS is calculated using the if-converted method. The method assumes that these securities are converted to shares of common stock upon maturity irrespective of stock movements or changes in the credit environment to the extent that the effect is dilutive. If the effect is anti-dilutive, we calculate Net income (loss) per common share by adjusting Net income (loss) in the numerator for the effect of the cumulative MCPS dividends for the respective period. ƚƚƚ st Price will be equal to the average volume-weighted average price “VWAP” per share of common stock over 20 consecutive trading days commencing on, and including, the 21 scheduled trading day immediately preceding June 1, 2023. On June 1, 2023, preferred shares mature; dividend is retired, and shares convert to common stock Prior to maturity, the dilutive effect of MCPS on EPS is calculated by taking the lower of: ƚƚƚƚ Adjusted Earnings Per Share Preferred Stock Dividends Adj Net Income – Preferred Dividends 10,062,500 $100 1/4 5.5% x x x preferred shares liquidation P&L dividend outstanding preference period Weighted Average Diluted Shares Outstanding $13.8M quarterly / $55.3M annually ƗƗƗƗ Expected WASO calculation excludes MCPS issuance because dividend is more dilutive than share conversion (“if-converted” method) 12 Q4 2022 Financial & Operational Highlights | February 1, 2023

Use of Non-GAAP Measures To supplement Boston Scientific’s consolidated financial statements presented on a GAAP basis, the Company discloses certain non- GAAP financial measures. These measures are not in accordance with generally accepted accounting principles in the United States. A reconciliation of these measures to the corresponding GAAP measures follows in the Appendix. In addition, an explanation of the ways in which Boston Scientific management uses these supplemental non-GAAP measures to evaluate its business and the substantive reasons why Boston Scientific management believes that these measures provide useful information to investors is included under “Use of Non-GAAP Financial Measures” in the company’s most recent earnings release filed with the SEC on Form 8-K. This information is not meant to be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP. 13 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix A Sales Detail 14 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix A - Net Sales Detail - MedSurg Three Months Ended December 31, 2022 and 2021 Year-over-Year Change Q4 Q4 Less: Impact of (in millions) 2022 2021 Reported Basis Foreign Currency Operational Basis MEDSURG SEGMENT: ENDOSCOPY UNITED STATES $ 349 $ 320 8.9 % — % 8.9 % INTERNATIONAL 223 238 (6.5) % (11.8) % 5.3 % WORLDWIDE $ 571 $ 558 2.4 % (5.1) % 7.4 % UROLOGY UNITED STATES $ 336 $ 303 10.9 % — % 10.9 % INTERNATIONAL 141 138 2.3 % (11.4) % 13.7 % WORLDWIDE $ 477 $ 441 8.2 % (3.6) % 11.8 % NEUROMODULATION UNITED STATES $ 196 $ 193 1.6 % — % 1.6 % INTERNATIONAL 53 51 3.7 % (13.6) % 17.3 % WORLDWIDE $ 249 $ 244 2.1 % (2.8) % 4.9 % 15 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix A - Net Sales Detail - Cardiovascular Three Months Ended December 31, 2022 and 2021 Year-over-Year Change Q4 Q4 Less: Impact of (in millions) 2022 2021 As Reported Basis Foreign Currency Operational Basis CARDIOVASCULAR SEGMENT: ICTx UNITED STATES $ 176 $ 185 (5.3) % — % (5.3) % INTERNATIONAL 386 390 (1.1) % (11.3) % 10.2 % WORLDWIDE $ 561 $ 575 (2.4) % (7.6) % 5.2 % Watchman UNITED STATES $ 253 $ 205 23.6 % — % 23.6 % INTERNATIONAL 27 28 (2.9) % (12.1) % 9.2 % WORLDWIDE $ 280 $ 233 20.5 % (1.4) % 21.9 % Cardiac Rhythm Management UNITED STATES $ 332 $ 312 6.4 % — % 6.4 % INTERNATIONAL 189 202 (6.6) % (11.5) % 4.9 % WORLDWIDE $ 521 $ 514 1.3 % (4.5) % 5.8 % Electrophysiology UNITED STATES $ 79 $ 32 143.4 % — % 143.4 % INTERNATIONAL 88 68 30.1 % (14.5) % 44.5 % WORLDWIDE $ 167 $ 100 66.7 % (9.8) % 76.4 % CARDIOLOGY UNITED STATES $ 840 $ 735 14.3 % — % 14.3 % INTERNATIONAL 690 687 0.3 % (11.7) % 12.0 % WORLDWIDE $ 1,529 $ 1,422 7.5 % (5.6) % 13.2 % PERIPHERAL INTERVENTIONS UNITED STATES $ 266 $ 248 7.5 % — % 7.5 % INTERNATIONAL 210 214 (2.1) % (12.4) % 10.3 % WORLDWIDE $ 476 $ 462 3.0 % (5.8) % 8.8 % 16 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix A - Net Sales Detail - MedSurg Year Ended December 31, 2022 and 2021 Year-over-Year Change Less: Impact of (in millions) YTD 2022 YTD 2021 As Reported Basis Foreign Currency Operational Basis MEDSURG SEGMENT: ENDOSCOPY UNITED STATES $ 1,341 $ 1,222 9.7 % — % 9.7 % INTERNATIONAL 880 919 (4.2) % (10.1) % 5.9 % WORLDWIDE $ 2,221 $ 2,141 3.7 % (4.4) % 8.1 % UROLOGY UNITED STATES $ 1,257 $ 1,120 12.2 % — % 12.2 % INTERNATIONAL 516 463 11.5 % (10.0) % 21.5 % WORLDWIDE $ 1,773 $ 1,583 12.0 % (2.9) % 14.9 % NEUROMODULATION UNITED STATES $ 715 $ 713 0.3 % — % 0.3 % INTERNATIONAL 202 196 3.2 % (12.0) % 15.2 % WORLDWIDE $ 917 $ 909 0.9 % (2.6) % 3.5 % 17 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix A - Net Sales Detail - Cardiovascular Year Ended December 31, 2022 and 2021 Year-over-Year Change Less: Impact of As Reported Foreign Operational (in millions) YTD 2022 YTD 2021 Basis Currency Basis CARDIOVASCULAR SEGMENT: ICTx UNITED STATES $ 744 $ 778 (4.4) % — % (4.4) % INTERNATIONAL 1,485 1,431 3.8 % (10.3) % 14.0 % WORLDWIDE $ 2,228 $ 2,209 0.9 % (6.6) % 7.5 % Watchman UNITED STATES $ 915 $ 729 25.5 % — % 25.5 % INTERNATIONAL 103 100 3.7 % (9.5) % 13.2 % WORLDWIDE $ 1,019 $ 829 22.9 % (1.1) % 24.0 % Cardiac Rhythm Management UNITED STATES $ 1,337 $ 1,214 10.1 % — % 10.1 % INTERNATIONAL 763 805 (5.1) % (10.7) % 5.5 % WORLDWIDE $ 2,100 $ 2,019 4.0 % (4.3) % 8.3 % Electrophysiology UNITED STATES $ 275 $ 128 114.6 % — % 114.6 % INTERNATIONAL 310 237 30.8 % (13.5) % 44.2 % WORLDWIDE $ 585 $ 365 60.2 % (8.8) % 68.9 % CARDIOLOGY UNITED STATES $ 3,271 $ 2,850 14.8 % — % 14.8 % INTERNATIONAL 2,662 2,572 3.5 % (10.7) % 14.1 % WORLDWIDE $ 5,932 $ 5,422 9.4 % (5.1) % 14.5 % PERIPHERAL INTERVENTIONS UNITED STATES $ 1,048 $ 996 5.2 % — % 5.2 % INTERNATIONAL 850 824 3.3 % (10.5) % 13.8 % WORLDWIDE $ 1,899 $ 1,820 4.4 % (4.8) % 9.1 % 18 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix A - Net Sales Information Net Sales Growth Year Ended December 31, 5-Year Average Total BSC Net Sales Growth 2022 2021 2020 2019 2018 Percentage change in net sales, as reported 6.7 % 19.9 % (7.7) % 9.3 % 8.6 % 7 % Less: Impact of foreign currency fluctuations (4.4) % 1.3 % 0.1 % (1.8) % 0.6 % Percentage change in net sales, operational 11.1 % 18.7 % (7.8) % 11.1 % 8.0 % 8 % Less: Impact of recent acquisitions/divestitures 2.4 % (0.3) % 3.5 % 3.8 % 0.8 % Percentage change in net sales, organic 8.7 % 18.9 % (11.3) % 7.3 % 7.2 % 6 % 19 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix B Income Statement Information 20 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix B - Income Statement Information Margins Three Months Ended Adjusted Gross Margin 12/31/2022 12/31/2021 Basis Points Change Gross Margin, as reported 68.8 % 68.9 % (10) Less: Non-GAAP adjustments (1.7) % (2.0) % Gross Margin, adjusted 70.5 % 70.9 % (40) Three Months Ended Adjusted Operating Margin 12/31/2022 12/31/2021 Basis Points Change Operating Margin, as reported 12.4 % 5.8 % 660 Less: Non-GAAP adjustments (13.3) % (20.4) % Operating Margin, adjusted 25.7 % 26.2 % (50) Year Ended Adjusted Gross Margin 12/31/2022 12/31/2021 Basis Points Change Gross Margin, as reported 68.8 % 68.8 % — Less: Non-GAAP adjustments (1.7) % (1.5) % Gross Margin, adjusted 70.5 % 70.3 % 20 Year Ended Adjusted Operating Margin 12/31/2022 12/31/2021 Basis Points Change Operating Margin, as reported 13.0 % 10.1 % 290 Less: Non-GAAP adjustments (12.6) % (15.2) % Operating Margin, adjusted 25.6 % 25.3 % 20 21 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix C Additional Non-GAAP Reconciliations 22 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix C - Additional Non-GAAP Reconciliations in millions Three Months Ended 12 Months Ended Adjusted Free Cash Flow 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Operating cash flow, reported $ 807 $ 478 $ 1,526 $ 1,870 Less: Purchases of property, plant and equipment and internal use software 212 266 588 554 Add: Proceeds on disposals of property, plant and equipment 1 5 12 14 Free Cash Flow 597 217 949 1,330 Plus: Restructuring and restructuring-related payments 34 40 144 172 Plus: Acquisition-related payments 61 60 329 199 Plus: Certain EU MDR implementation-related payments 19 14 71 49 Plus: Special tax payments (refunds/credits) 68 6 290 1 Plus: Certain litigation-related settlements (4) 88 282 441 Adjusted Free Cash Flow $ 776 $ 425 $ 2,066 $ 2,192 Estimated Adjusted Free Cash Flow (in billions) FY 2023 Cash provided by (used for) operating activities $ ~2.3 Less: Purchases (proceeds from sale) of property, plant and equipment ~0.6 Free Cash Flow ~1.7 Plus: Special Adjustments ~0.6 Adjusted Free Cash Flow $ ~2.3 23 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix C - Additional Non-GAAP Reconciliations 12 Months Ended Reconciliation of Debt to Adjusted EBITDA (in millions) Q1 2022 Q2 2022 Q3 2022 Q4 2022 12/31/2022 Net income (loss) $ 110 $ 260 $ 188 $ 140 $ 698 Income tax (benefit) expense 45 85 57 256 443 Interest expense 279 64 63 64 470 Interest income (4) (1) (1) (4) (10) Depreciation expense 76 80 82 94 333 Amortization expense 198 204 202 199 803 EBITDA 705 692 590 750 2,737 Non-GAAP Adjustments Restructuring and restructuring-related net charges (credits) 29 35 18 28 110 Intangible asset impairment charges — 7 125 — 132 Investment portfolio net losses (gains) 7 4 (3) (38) (30) Acquisition/divestiture - related net charges (credits) 72 91 113 9 285 Litigation-related net charges (credits) — 42 — 131 173 EU MDR implementation costs 16 17 20 19 71 Adjusted EBITDA $ 829 $ 887 $ 862 $ 900 $ 3,478 Debt $ 8,935 Debt to Adjusted EBITDA 2.57x 24 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix C - Additional Non-GAAP Reconciliations Three Months Ended 12 Months Ended Adjusted Tax Rate 12/31/2022 12/31/2022 Tax Rate, as reported 64.6 % 38.9 % Less: Non-GAAP adjustments 52.7 % 26.2 % Tax Rate, adjusted 11.9 % 12.7 % Less: Discrete tax items (0.1) % (0.8) % Tax rate, operational 12.0 % 13.5 % Estimated Tax Rate Q1 2023 FY 2023 Tax Rate, as reported 17 % 19 % Less: Non-GAAP adjustments 5 % 6 % Tax Rate, adjusted 12 % 13 % Less: Discrete tax items (2) % (1) % Tax Rate, operational 14 % 14 % Estimated Non-Operating Income (Loss) (in millions) FY 2023 Non-Operating Income (Loss), as reported $ 322 Less: Non-GAAP adjustments (18) Non-Operating Income (Loss), adjusted $ 340 Estimated Operating Margin FY 2023 Operating Margin, as reported ~18.8% Less: Non-GAAP adjustments ~(7.6)% Operating Margin, adjusted ~26.4% 25 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix C - Additional Non-GAAP Reconciliations 12 Months Ended China net sales growth 2022 vs 2021 12/31/2022 Net sales growth, as reported 17 % Less: Impact of foreign currency fluctuations (5) % Net sales growth, operational 22 % Three Months Ended 12 Months Ended Latin America net sales growth 2022 vs 2021 12/31/2022 12/31/2022 Net sales growth, as reported 16 % 27 % Less: Impact of foreign currency fluctuations — % (1) % Net sales growth, operational 16 % 28 % 12 Months Ended Coronary therapies net sales growth 2022 vs 2021 12/31/2022 Net sales growth, as reported — % Less: Impact of foreign currency fluctuations (7) % Net sales growth, operational 7 % Three Months Ended Electrophysiology International net sales growth 2022 vs 2021 12/31/2022 Net sales growth, as reported 30 % Less: Impact of foreign currency fluctuations (15) % Net sales growth, operational 45 % Less: Impact of recent acquisitions/divestitures 5 % Net sales growth, organic 40 % 26 Q4 2022 Financial & Operational Highlights | February 1, 2023

Appendix C - Additional Non-GAAP Reconciliations Three Months Ended SCS net sales growth 2022 vs 2021 12/31/2022 Net sales growth, as reported 2 % Less: Impact of foreign currency fluctuations (2) % Net sales growth, operational 4 % 12 Months Ended Single Use Imaging net sales growth 2022 vs 2021 12/31/2022 Net sales growth, as reported 25 % Less: Impact of foreign currency fluctuations (5) % Net sales growth, operational 30 % 12 Months Ended AXIOS™ net sales growth 2022 vs 2021 12/31/2022 Net sales growth, as reported 20 % Less: Impact of foreign currency fluctuations (5) % Net sales growth, operational 25 % 27 Q4 2022 Financial & Operational Highlights | February 1, 2023

Q4 2022 vs. Q4 2021 Restated Net Sales New Segment Presentation Less: Impact Less: Impact of Foreign of Recent Q4 Q4 As Reported Currency Operational Acquisitions / Organic (in millions) 2022 2021 Basis Fluctuations Basis Divestitures Basis ENDOSCOPY $ 571 $ 558 2.4 % (5.1) % 7.4 % — % 7.4 % UROLOGY 477 441 8.2 % (3.6) % 11.8 % — % 11.8 % NEUROMODULATION 249 244 2.1 % (2.8) % 4.9 % — % 4.9 % MEDSURG 1,297 1,243 4.4 % (4.1) % 8.5 % — % 8.5 % ICTx 561 575 (2.4) % (7.6) % 5.2 % — % 5.2 % WATCHMAN 280 233 20.5 % (1.4) % 21.9 % — % 21.9 % CARDIAC RHYTHM MANAGEMENT 521 514 1.3 % (4.5) % 5.8 % — % 5.8 % ELECTROPHYSIOLOGY 167 100 66.7 % (9.8) % 76.4 % 51.4 % 25.1 % CARDIOLOGY 1,529 1,422 7.5 % (5.6) % 13.2 % 3.6 % 9.6 % PERIPHERAL INTERVENTIONS 476 462 3.0 % (5.8) % 8.8 % — % 8.8 % CARDIOVASCULAR 2,005 1,884 6.4 % (5.7) % 12.1 % 2.7 % 9.4 % 3,302 3,127 5.6 % (5.0) % 10.7 % 1.6 % 9.0 % † OTHER (60) — (100.0) % — % (100.0) % — % (100.0) % WORLDWIDE NET SALES $ 3,242 $ 3,127 3.7 % (5.0) % 8.7 % 1.6 % 7.1 % 28 Q4 2022 Financial & Operational Highlights | February 1, 2023

FY 2022 vs. FY 2021 Restated Net Sales New Segment Presentation Less: Impact Less: Impact of Foreign of Recent FY FY As Reported Currency Operational Acquisitions / Organic (in millions) 2022 2021 Basis Fluctuations Basis Divestitures Basis ENDOSCOPY $ 2,221 $ 2,141 3.7 % (4.4) % 8.1 % — % 8.1 % UROLOGY 1,773 1,583 12.0 % (2.9) % 14.9 % 5.3 % 9.7 % NEUROMODULATION 917 909 0.9 % (2.6) % 3.5 % — % 3.5 % MEDSURG 4,911 4,633 6.0 % (3.5) % 9.5 % 1.8 % 7.7 % ICTx 2,228 2,209 0.9 % (6.6) % 7.5 % — % 7.5 % WATCHMAN 1,019 829 22.9 % (1.1) % 24.0 % — % 24.0 % CARDIAC RHYTHM MANAGEMENT 2,100 2,019 4.0 % (4.3) % 8.3 % 1.6 % 6.7 % ELECTROPHYSIOLOGY 585 365 60.2 % (8.7) % 68.9 % 51.1 % 17.8 % CARDIOLOGY 5,932 5,422 9.4 % (5.1) % 14.5 % 4.0 % 10.4 % PERIPHERAL INTERVENTIONS 1,899 1,820 4.4 % (4.8) % 9.1 % — % 9.1 % CARDIOVASCULAR 7,831 7,242 8.1 % (5.0) % 13.1 % 3.0 % 10.1 % 12,742 11,875 7.3 % (4.4) % 11.7 % 2.5 % 9.2 % † OTHER (60) 13 (+100)% — % (+100)% — % (+100)% WORLDWIDE NET SALES $ 12,682 $ 11,888 6.7 % (4.4) % 11.1 % 2.4 % 8.7 % 29 Q4 2022 Financial & Operational Highlights | February 1, 2023

Q4 2021 vs. Q4 2020 Restated Net Sales New Segment Presentation Less: Impact Less: Impact of Foreign of Recent Q4 Q4 As Reported Currency Operational Acquisitions / Organic (in millions) 2021 2020 Basis Fluctuations Basis Divestitures Basis ENDOSCOPY $ 558 $ 515 8.3 % (1.5) % 9.8 % — % 9.8 % UROLOGY 441 376 17.2 % (0.8) % 18.0 % 9.2 % 8.7 % NEUROMODULATION 244 232 5.2 % (0.6) % 5.8 % — % 5.8 % MEDSURG 1,243 1,123 10.6 % (1.1) % 11.7 % 3.1 % 8.6 % ICTx 575 520 10.7 % (2.1) % 12.8 % — % 12.8 % WATCHMAN 233 65 257.9 % (0.5) % 258.4 % — % 258.4 % CARDIAC RHYTHM MANAGEMENT 514 451 14.0 % (1.5) % 15.5 % 11.0 % 4.5 % ELECTROPHYSIOLOGY 100 85 18.1 % (2.8) % 20.9 % 5.3 % 15.6 % CARDIOLOGY 1,422 1,120 27.0 % (1.8) % 28.7 % 4.8 % 23.9 % PERIPHERAL INTERVENTIONS 462 429 7.6 % (1.4) % 9.0 % — % 9.0 % CARDIOVASCULAR 1,884 1,549 21.6 % (1.7) % 23.3 % 3.5 % 19.8 % 3,127 2,673 17.0 % (1.4) % 18.4 % 3.3 % 15.1 % † OTHER — 36 (100.0) % — % (100.0) % — % (100.0) % WORLDWIDE NET SALES $ 3,127 $ 2,708 15.4 % (1.4) % 16.9 % 1.8 % 15.1 % 30 Q4 2022 Financial & Operational Highlights | February 1, 2023

FY 2021 vs. FY 2020 Restated Net Sales New Segment Presentation Less: Impact Less: Impact of Foreign of Recent FY FY As Reported Currency Operational Acquisitions / Organic (in millions) 2021 2020 Basis Fluctuations Basis Divestitures Basis ENDOSCOPY $ 2,141 $ 1,780 20.3 % 1.3 % 18.9 % — % 18.9 % UROLOGY 1,583 1,286 23.1 % 1.0 % 22.1 % 2.8 % 19.2 % NEUROMODULATION 909 761 19.5 % 0.9 % 18.6 % — % 18.6 % MEDSURG 4,633 3,827 21.0 % 1.1 % 19.9 % 1.0 % 18.9 % ICTx 2,209 1,975 11.8 % 1.6 % 10.3 % — % 10.3 % WATCHMAN 829 324 156.0 % 1.1 % 154.9 % — % 154.9 % CARDIAC RHYTHM MANAGEMENT 2,019 1,704 18.5 % 1.4 % 17.1 % 9.5 % 7.7 % ELECTROPHYSIOLOGY 365 287 27.4 % 1.6 % 25.8 % 2.3 % 23.5 % CARDIOLOGY 5,422 4,290 26.4 % 1.5 % 25.0 % 3.9 % 21.0 % PERIPHERAL INTERVENTIONS 1,820 1,577 15.4 % 1.2 % 14.2 % — % 14.2 % CARDIOVASCULAR 7,242 5,866 23.4 % 1.4 % 22.1 % 2.9 % 19.2 % 11,875 9,694 22.5 % 1.3 % 21.2 % 2.1 % 19.1 % † OTHER 13 219 (93.9) % 0.1 % (94.0) % (49.6) % (44.4) % WORLDWIDE NET SALES $ 11,888 $ 9,913 19.9 % 1.3 % 18.7 % (0.3) % 18.9 % 31 Q4 2022 Financial & Operational Highlights | February 1, 2023

BSX: Acronym Reference Guide AF Atrial Fibrillation CMM Conventional Medical Management CRM Cardiac Rhythm Management DAPT Dual Antiplatelet Therapy DCB Drug Coated Balloon DJSI Dow Jones Sustainability Index ESG Environmental, Social, Governance ICTx Interventional Cardiology Therapies IDE Investigational Device Exemption ISR In-Stent Restenosis PVL Paravalvular Leak PCR Percutaneous Cardiovascular Interventions PMDA Pharmaceuticals and Medical Devices Agency SBTi Science-based Targets Initiative SCS Spinal Cord Stimulation SFA Superficial Femoral Artery SVD Small Vessel Disease VBP Volume-based Procurement VIVA Vascular InterVentional Advances Conference 32 Q4 2022 Financial & Operational Highlights | February 1, 2023

Next in

Next in