Boston Scientific : Q1 2019 Financial and Operating Highlights

Q1 2019 Highlights

April 24, 2019

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," "intend," "aiming" 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. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could differ materially from the expectations and projections expressed or implied by our forward-looking statements.

Factors that may cause such differences can be found in our most recent Form 10-K and Forms 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.

Operational revenue growth excludes the impact of foreign currency fluctuations. Organic revenue growth excludes the impact of foreign currency fluctuations and sales from the recent acquisitions of NxThera, Inc., Claret Medical, Inc. and Augmenix, Inc., each with no prior year comparable sales. 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. Periodically, we

assess our list of Emerging Markets; effective January 1, 2019, we updated our list of Emerging Market countries. Our current list is comprised of the following countries: Argentina, Brazil, Chile, China, Colombia, Czech Republic, India, Indonesia, Malaysia, Mexico, Philippines, Poland, Russia, Saudi Arabia, Slovakia, South Africa, South

Korea, Thailand, Turkey and Vietnam. We have revised prior year amounts to the current year's presentation (as denoted with † throughout). The revision had an immaterial impact on prior year sales.

Use of Document:

This document contains certain highlights with respect to our first quarter 2019 performance and developments and does not purport to be a complete summary thereof. Accordingly, we encourage you to read our Earnings Release for the quarter ended March 31, 2019 located in the investor section of our website at www.bostonscientific.comand our Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 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.

2Q1 2019 Financial & Operational Highlights | April 24, 2019

Q1 2019 Highlights

Financial Highlights

•Revenue growth Y/Y:

•+7.8% operational*, +4.8% as reported,

+6.3% organic*

•Earnings per share:

•Adjusted*: $0.35vs. $0.33 Q1:18

•GAAP: $0.30 vs. $0.21 Q1:18

•Gross margin:

•Adjusted*: 71.4%,-90 bps Y/Y

◦Includes +90 bps FX impact Y/Y

•GAAP: 70.7%,-100 bps Y/Y

•Operating margin:

•Adjusted*: 25.6%, +30 bps Y/Y

•GAAP: 21.7%, +460 bps Y/Y

•Narrowed FY guidance:

•Organic* revenue growth:+7-8%

•Adjusted EPS*: $1.54 - $1.58

Operational Highlights

•ReceivedJapanese approval of WATCHMAN™ LAAC Device andCE Mark for Watchman FLX™; began a limited market release in Europe of WATCHMAN FLX™ and target Q3:19 Japan launch.

•ReceivedFDA approval of Lotus Edge™ and initiated acontrolled launch in Europe in March; currently enrolling patients in REPRISE IV intermediate risk study.

•Announcedpositive results for the LUMINIZE™ Radiofrequency (RF) Balloon Catheter from theAF-FICIENTI study demonstratingprocedural success, safety and efficacy.

•Announcedpositive results from the VIRTUS study where theVICI VENOUS STENTTMdemonstrated primary patency rate of 84.0% at 12 months and a 98.5% rate of freedom from major adverse events at 30 days.

•Received insurance coverage from United Healthcare, the largest commercial insurer in the U.S., for theSpaceOAR™ Hydrogel, a therapy used to reduce common and debilitating side effects that men may experience after receiving prostate cancer radiotherapy.

•Completed a public offering of$4.3B aggregate principal amount of senior notes, a portion of which is intended to finance the proposedacquisition of BTG that is expected to closemid-year.

•Remain committed to excellent patient care, physician education, and clinical diligenceamidst FDA pelvic mesh device reclassification and order and the debate surrounding paclitaxel coated devices.

3Q1 2019 Financial & Operational Highlights | April 24, 2019

WW Sales by Segment and Business

Q1 2019 Reported Revenue: $2,493M

Revenue by Business; Segment Percentage of Total Sales

MedSurg

31%

Cardiovascular

39%

		Rhythm and
UroPH	CRM	Neuro
$326M		30%
	$491M

EP

Endo$79M

$440M

NM $186M

PI	IC
$311M	$661M

4Q1 2019 Financial & Operational Highlights | April 24, 2019

WW Sales Detail

Three Months Ended March 31, 2019 and 2018

						As		Less: Impact of				Less: Impact
								Foreign
		Q1		Q1		Reported		Currency		Operational		of Certain		Organic
(in millions)		2019		2018		Basis		Fluctuations		Basis		Acquisitions		Basis
ENDOSCOPY	$	440	$	418		5.2 %	(2.9)%		8.1%			-%	8.1%
UROLOGY AND PELVIC HEALTH		326		293		11.4 %		(2.2)%		13.6%	9.0%		4.6%
MEDSURG		766		711		7.7 %	(2.7)%		10.4%		3.7%		6.7%
CARDIAC RHYTHM MANAGEMENT		491		493		(0.4)%	(3.0)%		2.6%			-%	2.6%
ELECTROPHYSIOLOGY		79		75		6.4 %	(3.6)%		10.0%			-%	10.0%
NEUROMODULATION		186		169		10.5 %		(1.9)%		12.4%		-%		12.4%
RHYTHM AND NEURO		757		736		2.8 %	(2.8)%		5.6%			-%	5.6%
INTERVENTIONAL CARDIOLOGY		661		645		2.5 %	(3.7)%		6.2%		1.4%		4.8%
PERIPHERAL INTERVENTIONS		311		288		7.9 %		(3.3)%		11.2%		-%		11.2%
CARDIOVASCULAR		972		933		4.2 %	(3.6)%		7.8%		1.0%		6.8%
WORLDWIDE NET SALES	$	2,493	$	2,379		4.8 %		(3.0)%		7.8%		1.5%		6.3%
EMERGING MARKETS† SALES		297		262		13.3 %	(8.7)%		22.0%
EMERGING MARKETS SALES PERCENTAGE OF TOTAL BSC						12 %			12%
UNITED STATES SALES PERCENTAGE OF TOTAL BSC						56 %			55%
INTERNATIONAL SALES PERCENTAGE OF TOTAL BSC						44 %			45%

5Q1 2019 Financial & Operational Highlights | April 24, 2019