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Q3 2026 Financial & Operational Highlights | October 28, 2026 1 Q3 2026 Highlights October 28, 2026
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Q3 2026 Financial & Operational Highlights | October 28, 2026 2 Forward-Looking Statements and Use of Document 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; adjusted EPS for the fourth quarter and full year 2026; free cash flow (FCF); adjusted expenses; tax rates; our financial performance; impacts of the August 2026 cybersecurity incident; acquisitions; clinical trials; our business plans and product performance; market sizes and growth rates; 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 “Cautionary Note Regarding 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, except as required by law. Market estimates: Unless noted otherwise, all references to market sizes, market share positions, and market growth rates are BSX internal estimates. Non-GAAP Measures: This document contains non-generally accepted accounting principles in the United States (GAAP) measures (denoted with *) in talking about our Company’s performance. The reconciliations of these 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 certain 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 based on internally-derived standard currency exchange rates to exclude the impact of foreign currency, which may be updated from year to year. 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 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission or Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations in our Quarterly Reports on Form 10-Q that we have filed or will file thereafter for an explanation of each of these adjustments and the reasons for excluding each item. Adjusted EPS excludes the impact of certain charges (credits) which may include amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), investment portfolio net losses (gains) and impairments, restructuring and restructuring-related net charges (credits), litigation-related net charges (credits), European Union (EU) Medical Device Regulation (MDR) implementation costs, debt extinguishment net charges, deferred tax expenses (benefits), discrete tax items and other charges (credits) as appropriate. FCF is a non-GAAP measure calculated as operating cash flows less net purchases of property, plant and equipment and internal use software. Operational Structure: In the fourth quarter of 2025, an organizational change combined our legacy Cardiology and Peripheral Interventions businesses into a single Cardiovascular business. All prior period amounts have been revised to conform to current year presentation. This change had no impact on our reportable segments. Use of Document: This document contains certain highlights with respect to our third quarter 2026 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 September 30, 2026 located in the investor section of our website at www.bostonscientific.com and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 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 unrounded amounts.
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Q3 2026 Financial & Operational Highlights | October 28, 2026 3 Q3 2026 Highlights • Net sales growth: • +1.5% reported, operational* and organic* Y/Y • Earnings per share: • As reported: $0.40 vs. $0.51 Q3:25 • Adjusted*: $0.73 vs. $0.75 Q3:25 • Gross margin: • As reported: 66.7%, (320) bps Y/Y • Adjusted*: 68.0%, (300) bps Y/Y • Operating margin: • As reported: 16.1%, (460) bps Y/Y • Adjusted*: 26.5%, (150) bps Y/Y • Q4 2026 guidance vs. Q4 2025: • As reported net sales decline: (3.0)% - (1.0)% • Organic* net sales decline: (3.0)% - (1.0)% • Adjusted EPS*: $0.77 - $0.79 • FY 2026 guidance vs. FY 2025: • As reported net sales growth: ~4.25% • Organic* net sales growth: ~3.75% • Adjusted EPS*: $3.16 - $3.18 Financial Highlights Operational Highlights • Commenced enrollment in the Elite AF clinical trial to evaluate the safety and effectiveness of the next-generation WATCHMAN Elite™ Left Atrial Appendage Closure Device in patients with non-valvular atrial fibrillation who are eligible for anticoagulation therapy to reduce their risk of stroke and who have a rationale to seek a non-pharmacologic alternative. • Received U.S. Food and Drug Administration (FDA) 510(k) clearance for an expanded size offering of the SEISMIQ™ Intravascular Lithotripsy Peripheral Catheter to treat patients with severely calcified peripheral artery disease both above and below the knee. • Received U.S. FDA 510(k) clearance for two technologies within the StoneSmart™ Solutions ecosystem, including the Navigator™ Flex Ureteral Access Sheath Set , designed to enable the use of suction to remove kidney stone debris, and the LithoVue™ Elite Single-Use Digital Flexible Ureteroscope with temperature sensing, designed to display real- time fluid temperature alongside ureteroscopy video for procedural monitoring. • Recognized the American Medical Association's assignment of Category I Current Procedural Terminology (CPT®) codes for renal denervation devices, such as the investigational TIVUS™ Renal Denervation System, and implantable tibial nerve stimulation (ITNS) devices, including the eCoin® ITNS System, effective January 2028. • Entered into a strategic collaboration with Heartflow, Inc. (Nasdaq: HTFL) to advance AI-powered, computed tomography (CT)-guided planning for percutaneous coronary intervention (PCI) procedures and explore integration of Heartflow's PCI Navigator pre-procedural planning tool and the AVVIGO™+ Multi-Modality Guidance System .
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Q3 2026 Financial & Operational Highlights | October 28, 2026 4 Q3 2026 Reported Net Sales: $5.138B Net Sales by Business; Segment Percentage of Total Net Sales Reported Net Sales by Segment and Business Endo $741M Uro $661M NM $331M MedSurg 34% Cardiovascular 66% Cardiovascular $267M $568M $816M $482M $1.273B ICVT WM EP CRM IO&E Cardiovascular $3.406B
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Q3 2026 Financial & Operational Highlights | October 28, 2026 5 Q3 2026 Highlights • Endoscopy: Global net sales (0.8)% as reported, (0.6)% operational*/organic* ▪ Underlying performance was strong, led by AXIOS, with some impacts from China VBP in GI space and the cyber incident. • Urology: Global net sales (3.2)% as reported, (3.1)% operational*/organic* ▪ Performance reflected some impact from the cyber incident as well as expanded pricing pressure in China in our Stone business. ▪ In stone management, we received FDA clearance for our Navigator Flex suction sheath, CE mark and FDA clearance for distribution of the 7.5 Slim scope and FDA clearance for LithoVue Elite single-use digital flexible ureteroscope with temperature sensing. • Neuromodulation: Global net sales +13.1% as reported, +13.0% operational*/organic* ▪ In Pain, growth was broad-based across the portfolio, with exceptional performance with our Nalu PNS technology. In Brain, growth was driven by our Cartesia X lead and Illumina 3D software. Measure Q3 2026 Q3 2025 Change Y/Y Reported Net Sales $1.733B $1.722B +0.6% Adjusted Operating Margin* 31.4% 33.2% (180 bps) MedSurg Performance Summary * Represents operating income as a percentage of operational net sales, both based on internally-derived standard currency exchange rates to exclude the impact of foreign currency, which may be updated from year to year. This measure is reported to the chief operating decision maker (CODM) for purposes of making decisions about allocating resources to the segment and assessing its performance. Prior period adjusted operating margin has been restated at constant currency rates to conform to current year presentation.
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Q3 2026 Financial & Operational Highlights | October 28, 2026 6 Q3 2026 Highlights Measure Q3 2026 Q3 2025 Change Y/Y Reported Net Sales $3.406B $3.343B +1.9% Adjusted Operating Margin* 29.8% 34.2% (440 bps) Cardiovascular Performance Summary • Cardiovascular: Global net sales +1.9% as reported, operational* and organic* ▪ Interventional Cardiology & Vascular Therapies: Global net sales +12.1% as reported, +11.9% operational*/organic* ◦ Interventional Cardiology growth of 19% driven by strength in our global imaging franchise and AGENT DCB technology. ◦ Vascular Therapies grew 1%, with some impact from the cyber incident as well as TCAR supply constraints as our new manufacturing site ramp was disrupted. ▪ Watchman: Global net sales (5.8)% as reported, (5.9)% operational*/organic* ◦ Watchman performance impacted by a slowdown in market, primarily driven by changes in patient identification and referral patterns as physicians assess the clinical evidence published over the last year. ▪ Electrophysiology: Global net sales (5.7)% as reported, (5.3)% operational*/organic* ◦ EP performance impacted to some degree by the cyber incident as well as ongoing pressure in a highly competitive market. ▪ Cardiac Rhythm Management: Global net sales (1.6)% as reported, operational* and organic* ◦ Diagnostics grew high-single digits, low-voltage declined mid-single-digits and high-voltage declined low-single digits. ◦ Overall performance reflected some impact from the cyber incident as we navigated use of technologies that leverage remote monitoring while systems were down. ▪ Interventional Oncology & Embolization: Global net sales +5.2% as reported, +4.8% operational*/organic* ◦ Growth driven by strong performance in our cancer therapies franchise, partially offset by some supply constraints. * Represents operating income as a percentage of operational net sales, both based on internally-derived standard currency exchange rates to exclude the impact of foreign currency, which may be updated from year to year. This measure is reported to the CODM for purposes of making decisions about allocating resources to the segment and assessing its performance. Prior period adjusted operating margin has been restated at constant currency rates to conform to current year presentation.
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Q3 2026 Financial & Operational Highlights | October 28, 2026 7 Key Growth Catalysts Select new products and data releases Cardiovascular ICVT WM CRM EP IO&E MedSurg Endo Uro NM 2026 2027E CHAMPION AF Q1:26 TheraSphere™ 360 + Any Day dosing SEISMIQ™ Coronary IVL Rivos™ Biliary Access Device SEISMIQ™ BTK IVL PRECEDENT™ next-gen defib Asurys™ SEISMIQ™ ATK IVL Edge J stylet Next-gen Intracept™ ROWAN TheraSphere™ combination therapy ACUNAV Luxera 4D ICE REMATCH-AF eCoin® system Nalu™ System peripheral nerve stimulation Versatile™ TruSelect™ 2.6 Microcatheter Product Approval Product Approval Expected FARAPOINT™ 2D ICE EMPOWER & mCRM™ LUX-AIR™ ICM System OPAL Software Launches Timeline represents expected launch timing or data presentation. Select product launches and data releases, list is not comprehensive. 1Signed, not yet closed; anticipate closing early 2027. Data Release Acquisition Penumbra Close1 Navigator Flex suction sheath 7.5 Fr Slim Ureteroscope Diversified pipeline and clinical evidence to support sustained innovation and long-term growth
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Q3 2026 Financial & Operational Highlights | October 28, 2026 8 Unlocking Meaningful New Markets 1 Signed, not yet closed; anticipate closing early 2027. 2 Investigational device. Limited by Federal Law to investigational use only. Not available for sale. Timeline represents expected launch timing or data presentation. Select product launches and data releases, list is not comprehensive. 2026E 2027E 2028E 2029EProduct SEISMIQ™ Peripheral ATK Launch IVL Intravascular Lithotripsy SEISMIQ™ Peripheral BTK Launch SEISMIQ™ 4CE Coronary Launch $1B+ +DD RDN Renal Denervation THRIVE Data Release TIVUS™ Launch $1B+ +DD 2028E ABLATION Complex Arrhythmias FARADIGM FPI FARADIGM Data FARAFLEX™ Launch $3B+ +DD 2025E Market Size Market Growth PENUMBRA Neurovascular & Thrombectomy Expected Close 11% 1 MiRus TAVR BSX Investment Announced STAR Trial FPI SIEGEL™ Valve Launch $7B+ +HSD 2 CIRC SUPPORT VITALYST™ Approval $1.5B +DD EXTERNAL ICE (EP) Intracardiac Echocardiography $1.3B +DD 2D ICE 2030E
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Q3 2026 Financial & Operational Highlights | October 28, 2026 9 Boston Scientific Strategy 2026E Served market of ~$75B with WAMGR of ~7% Strategic differentiators Meaningful WAMGR expansion Category leadership in strategic markets Broad, differentiated portfolio across 8 business units competing in markets growing ~7% ~10%¹ R&D investment | 78 active² clinical trials Disciplined capital allocation Balanced across strategic tuck-in M&A, venture investing and opportunistic share repurchase >45 venture companies | 25% of 50 acquisitions from VC portfolio3 Investing for growth while expanding profitability Improving weighted average market growth rate (WAMGR) to 7% while delivering double-digit adjusted EPS* growth ~200 bps adj. operating margin* expansion4 | 80% FCF conversion5 BSX reported revenue $7B 2012 $8B 2016 $11B 2019 ~$21B 2026E WAMGR ~(1%) ~4% ~5% ~7% Boston Scientific’s strategy of category leadership through meaningful innovation supports sustainable long-term growth ¹ Represents GAAP R&D expense as a percentage of GAAP net sales for the year ended December 31, 2025. ² Active clinical trial defined as a clinical trial that existed during the reporting year 2025 with an active subject enrolled. ³ Percent of acquisitions from VC portfolio over the last 15 years 4 Represents growth from the year ended December 31, 2019, to the year ended December 31, 2025. 5 Represents FCF conversion for the year ended December 31, 2025.
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Q3 2026 Financial & Operational Highlights | October 28, 2026 10 Our Approach to Corporate Responsibility
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Q3 2026 Financial & Operational Highlights | October 28, 2026 11 Q3 2026 Net Sales vs. Q3 2025 (in millions, except percentages) Q3 2026 Reported Net Sales Organic* Growth vs Q3 2025 Endoscopy $741 (1)% Urology $661 (3)% Neuromodulation $331 13% MedSurg $1,733 1% Interventional Cardiology and Vascular Therapies $1,273 12% Watchman $482 (6)% Electrophysiology $816 (5)% Cardiac Rhythm Management $568 (2)% Interventional Oncology & Embolization $267 5% Cardiovascular $3,406 2% Total Company $5,138 1% Guidance Range Disclosed July 29, 2026 3 to 5 percent
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Q3 2026 Financial & Operational Highlights | October 28, 2026 12 Income Statement Information Non-GAAP Reconciliation Three Months Ended September 30, 2026 (unaudited) in millions, except per share data GAAP Results Amortization Expense Goodwill and Other Intangible Asset Impairment Charges Acquisition/ Divestiture- Related Net Charges/ Credits Restructuring and Restructuring- Related Net Charges/ Credits Litigation- Related Net Charges/ Credits Investment Portfolio Net Losses/ Gains and Impairments EU MDR Implementation Costs Deferred Tax Expenses/ Benefits Adjusted* Results Net sales $ 5,138 $ — $ — $ — $ — $ — $ — $ — $ — $ 5,138 Cost of products sold (excluding amortization expense) 1,710 — — 38 23 — — 3 — 1,646 Gross profit 3,428 — — (38) (23) — — (3) — 3,493 Gross margin 66.7 % 68.0 % Selling, general and administrative expenses 1,683 — — 41 7 — — — — 1,635 SG&A as a percentage of sales 32.7 % 31.8 % Research and development expenses 520 — — 36 0 — — 3 — 481 R&D as a percentage of sales 10.1 % 9.4 % Royalty expense 12 — — — — — — — — 12 Royalty expense as a percentage of sales 0.2 % 0.2 % Amortization expense 234 234 — — — — — — — — Intangible asset impairment charges 39 — 39 — — — — — — — Contingent consideration net expense (benefit) (32) — — (32) — — — — — — Restructuring net charges (credits) 63 — — — 63 — — — — — Litigation-related net charges (credits) 81 — — — — 81 — — — — 2,600 234 39 44 70 81 — 3 — 2,128 Operating income (loss) 828 (234) (39) (82) (94) (81) — (5) — 1,364 Operating margin 16.1 % 26.5 % Other income (expense): Interest expense (100) — — (2) — — — — — (98) Other, net 4 — — (6) — — 36 — — (26) Income (loss) before income taxes 733 (234) (39) (90) (94) (81) 36 (5) — 1,240 Income tax expense (benefit) 153 (27) (4) (29) (18) (19) 8 (1) 66 177 Net income (loss) 580 (207) (35) (61) (75) (63) 28 (5) (66) 1,063 Net income (loss) attributable to noncontrolling interests (2) (2) — — — — — — — 0 Net income (loss) attributable to Boston Scientific common stockholders $ 582 $ (204) $ (35) $ (61) $ (75) $ (63) $ 28 $ (5) $ (66) $ 1,063 Net income (loss) per diluted common share $ 0.40 $ (0.14) $ (0.02) $ (0.04) $ (0.05) $ (0.04) $ 0.02 $ (0.00) $ (0.05) $ 0.73 Weighted average diluted shares outstanding 1,452.0 1,452.0 1,452.0 1,452.0 1,452.0 1,452.0 1,452.0 1,452.0 1,452.0 1,452.0
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Q3 2026 Financial & Operational Highlights | October 28, 2026 13 Days Sales Outstanding (DSO) Free Cash Flow* Days Inventory on Hand (DIOH) Capital Expenditures Working Capital & Cash Flow Metrics Sep 2026 Jun 2026 Mar 2026 Dec 2025 Sep 2025 56 51 52 51 51 Sep 2026 Jun 2026 Mar 2026 Dec 2025 Sep 2025 178 185 177 168 177 Q3 2026 Q3 2025 $867M $1.163B Q3 2026 Q3 2025 $180M $181M
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Q3 2026 Financial & Operational Highlights | October 28, 2026 14 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 Appendices. 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.
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Q3 2026 Financial & Operational Highlights | October 28, 2026 15 Appendix A Net Sales Detail
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Q3 2026 Financial & Operational Highlights | October 28, 2026 16 Year-over-Year Change (in millions, except percentages) Q3 2026 Q3 2025 Reported Basis Impact of Foreign Currency Fluctuations Operational Basis MEDSURG SEGMENT: ENDOSCOPY UNITED STATES $ 468 $ 462 1.2 % — % 1.2 % INTERNATIONAL 274 285 (4.0) % 0.4 % (3.6) % WORLDWIDE $ 741 $ 747 (0.8) % 0.1 % (0.6) % UROLOGY UNITED STATES $ 492 $ 511 (3.8) % — % (3.8) % INTERNATIONAL 169 171 (1.4) % 0.2 % (1.2) % WORLDWIDE $ 661 $ 682 (3.2) % 0.1 % (3.1) % NEUROMODULATION UNITED STATES $ 255 $ 230 11.1 % — % 11.1 % INTERNATIONAL 76 63 20.4 % (0.5) % 19.9 % WORLDWIDE $ 331 $ 293 13.1 % (0.1) % 13.0 % Appendix A - Net Sales Detail - MedSurg Three Months Ended September 30, 2026 and 2025
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Q3 2026 Financial & Operational Highlights | October 28, 2026 17 Year-over-Year Change (in millions, except percentages) Q3 2026 Q3 2025 Reported Basis Impact of Foreign Currency Fluctuations Operational Basis CARDIOVASCULAR SEGMENT: Interventional Cardiology & Vascular Therapies UNITED STATES $ 578 $ 504 14.6 % — % 14.6 % INTERNATIONAL 695 631 10.2 % (0.4) % 9.7 % WORLDWIDE $ 1,273 $ 1,135 12.1 % (0.2) % 11.9 % Watchman UNITED STATES $ 438 $ 470 (6.8) % — % (6.8) % INTERNATIONAL 45 43 4.9 % (0.9) % 4.0 % WORLDWIDE $ 482 $ 512 (5.8) % (0.1) % (5.9) % Electrophysiology UNITED STATES $ 556 $ 607 (8.4) % — % (8.4) % INTERNATIONAL 259 258 0.7 % 1.2 % 1.9 % WORLDWIDE $ 816 $ 865 (5.7) % 0.4 % (5.3) % Cardiac Rhythm Management UNITED STATES $ 349 $ 354 (1.4) % — % (1.4) % INTERNATIONAL 220 224 (2.0) % 0.2 % (1.8) % WORLDWIDE $ 568 $ 578 (1.6) % 0.1 % (1.6) % Interventional Oncology & Embolization UNITED STATES $ 175 $ 157 10.9 % — % 10.9 % INTERNATIONAL 92 96 (4.0) % (1.2) % (5.2) % WORLDWIDE $ 267 $ 253 5.2 % (0.4) % 4.8 % CARDIOVASCULAR UNITED STATES $ 2,095 $ 2,092 0.2 % — % 0.2 % INTERNATIONAL 1,311 1,251 4.8 % (0.1) % 4.7 % WORLDWIDE $ 3,406 $ 3,343 1.9 % (0.0) % 1.9 % Appendix A - Net Sales Detail - Cardiovascular Three Months Ended September 30, 2026 and 2025
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Q3 2026 Financial & Operational Highlights | October 28, 2026 18 Appendix B Additional Information - Statement of Operations
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Q3 2026 Financial & Operational Highlights | October 28, 2026 19 Appendix B - Statement of Operations Profitability Margins Three Months Ended September 30, Adjusted Gross Margin 2026 2025 Basis Points Change Gross Margin, as reported 66.7 % 69.9 % (320) Non-GAAP adjustments 1.3 % 1.1 % Gross Margin, adjusted 68.0 % 71.0 % (300) Three Months Ended September 30, Adjusted Operating Margin 2026 2025 Basis Points Change Operating Margin, as reported 16.1 % 20.7 % (460) Non-GAAP adjustments 10.4 % 7.3 % Operating Margin, adjusted 26.5 % 28.0 % (150) Year Ended December 31, Adjusted Operating Margin 2025 2024 2023 2022 2021 2020 2019 Operating Margin, as reported 18.0 % 15.5 % 16.5 % 13.0 % 10.1 % (0.8) % 14.1 % Non-GAAP adjustments 10.0 % 11.5 % 9.8 % 12.6 % 15.2 % 20.1 % 12.0 % Operating Margin, adjusted 28.0 % 27.0 % 26.3 % 25.6 % 25.3 % 19.3 % 26.1 % 2019 - 2025 Adjusted Operating Margin Growth 190 bps
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Q3 2026 Financial & Operational Highlights | October 28, 2026 20 Appendix C Additional Non-GAAP Reconciliations
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Q3 2026 Financial & Operational Highlights | October 28, 2026 21 Appendix C - Additional Non-GAAP Reconciliations (in millions, except percentages) Q3 2026 Q3 2025 As Reported Basis Impact of Foreign Currency Fluctuations Operational Basis Impact of Certain Acquisitions/ Divestitures(1) Organic Basis ENDOSCOPY $ 741 $ 747 (0.8) % 0.1 % (0.6) % — % (0.6) % UROLOGY 661 682 (3.2) % 0.1 % (3.1) % — % (3.1) % NEUROMODULATION 331 293 13.1 % (0.1) % 13.0 % — % 13.0 % MEDSURG 1,733 1,722 0.6 % 0.1 % 0.7 % — % 0.7 % INTERVENTIONAL CARDIOLOGY & VASCULAR THERAPIES 1,273 1,135 12.1 % (0.2) % 11.9 % — % 11.9 % WATCHMAN 482 512 (5.8) % (0.1) % (5.9) % — % (5.9) % ELECTROPHYSIOLOGY 816 865 (5.7) % 0.4 % (5.3) % — % (5.3) % CARDIAC RHYTHM MANAGEMENT 568 578 (1.6) % 0.1 % (1.6) % — % (1.6) % INTERVENTIONAL ONCOLOGY & EMBOLIZATION 267 253 5.2 % (0.4) % 4.8 % — % 4.8 % CARDIOVASCULAR 3,406 3,343 1.9 % (0.0) % 1.9 % — % 1.9 % NET SALES $ 5,138 $ 5,065 1.5 % 0.0 % 1.5 % — % 1.5 % (1) There were no applicable acquisitions in the third quarter of 2026 or 2025.
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Q3 2026 Financial & Operational Highlights | October 28, 2026 22 Appendix C - Additional Non-GAAP Reconciliations Three Months Ended September 30, 2026Free Cash Flow (in millions) Cash provided by (used for) operating activities $ 1,047 Purchases of property, plant and equipment and internal use software (180) Free Cash Flow $ 867 Estimated Free Cash Flow (in billions) Full Year 2026 Estimate Cash provided by (used for) operating activities $ ~4.4 Purchases of property, plant and equipment and internal use software (0.8) Free Cash Flow $ ~3.6
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Q3 2026 Financial & Operational Highlights | October 28, 2026 23 Appendix C - Additional Non-GAAP Reconciliations Free Cash Flow (in millions) Year Ended December 31, 2025 Cash provided by (used for) operating activities $ 4,534 Purchases of property, plant and equipment and internal use software (876) Proceeds on disposals of property, plant and equipment 1 Free Cash Flow $ 3,659 Free Cash Flow Conversion (in millions) Year Ended December 31, 2025 Free Cash Flow $ 3,659 Adjusted Net Income attributable to Boston Scientific common stockholders 4,574 Free Cash Flow Conversion 80 % Year Ended December 31, 2025 Adjusted Net Income Attributable to Boston Scientific common stockholders (in millions, except per share data) Income (Loss) Before Income Taxes Income Tax Expense (Benefit) Net Income (Loss) Net Income (Loss) Attributable to Noncontrolling Interests Net Income (Loss) Attributable to Boston Scientific Common Stockholders Impact per Share Reported $ 3,385 $ 493 $ 2,892 $ (6) $ 2,898 $ 1.94 Non-GAAP adjustments: Amortization expense 897 127 770 9 761 0.51 Goodwill and other intangible asset impairment charges 46 8 37 — 37 0.02 Acquisition/divestiture-related net charges/credits 245 59 186 — 186 0.12 Restructuring and restructuring-related net charges/credits 343 46 298 — 298 0.20 Litigation-related net charges/credits 194 45 149 — 149 0.10 Investment portfolio net losses/gains and impairments 26 (0) 26 — 26 0.02 EU MDR implementation costs 46 6 39 — 39 0.03 Deferred tax expenses/benefits — (206) 206 — 206 0.14 Discrete tax items — 27 (27) — (27) (0.02) Adjusted $ 5,182 $ 605 $ 4,577 $ 3 $ 4,574 $ 3.06
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Q3 2026 Financial & Operational Highlights | October 28, 2026 24 12 Months Ended Reconciliation of Debt to Adjusted EBITDA (in millions) Q4 2025 Q1 2026 Q2 2026 Q3 2026 9/30/2026 Net income (loss) $ 670 $ 1,339 $ 905 $ 580 $ 3,493 Income tax (benefit) expense 30 (176) 155 153 162 Interest expense 90 90 96 100 376 Interest income (14) (15) (11) (4) (44) Depreciation expense 137 118 122 128 505 Amortization expense 228 232 233 234 927 EBITDA 1,141 1,588 1,500 1,191 $ 5,419 Non-GAAP Adjustments Restructuring and restructuring-related net charges (credits) 97 35 42 94 268 Goodwill and other intangible asset impairment charges — — — 39 39 Investment portfolio net losses (gains) 26 (137) (2) (36) (149) Acquisition/divestiture - related net charges (credits) 89 47 92 90 318 Litigation-related net charges (credits) 194 — 76 81 351 EU MDR implementation costs 12 7 7 5 31 IEEPA tariff refund — — (83) — (83) Adjusted EBITDA $ 1,558 $ 1,540 $ 1,630 $ 1,464 $ 6,192 Debt $ 11,952 Debt to Adjusted EBITDA 1.9x Appendix C - Additional Non-GAAP Reconciliations
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Q3 2026 Financial & Operational Highlights | October 28, 2026 25 Appendix C - Additional Non-GAAP Reconciliations Three Months Ended September 30, 2026 Adjusted Operating Margin - by Reportable Segment (in millions, except percentages) MedSurg % of net sales of reportable segments Cardiovascular % of net sales of reportable segments Total Net sales, as reported $ 1,733 $ 3,406 $ 5,138 Impact of foreign currency fluctuations 2 1 3 Net sales of reportable segments 1,735 3,406 5,141 Segment expenses $ 1,190 68.6 % $ 2,390 70.2 % Adjusted operating income of reportable segments(1) 545 31.4 % 1,016 29.8 % 1,560 Unallocated amounts: Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments (196) Goodwill and other intangible asset impairment charges, acquisition/divestiture- related net charges (credits), restructuring and restructuring-related net charges (credits), litigation-related net charges (credits) and EU MDR implementation costs (302) Amortization expense (234) Operating income (loss), as reported $ 828 (1) Calculated as Net sales of reportable segments less Segment expenses.
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Q3 2026 Financial & Operational Highlights | October 28, 2026 26 Appendix C - Additional Non-GAAP Reconciliations Three Months Ended September 30, 2025 Adjusted Operating Margin - by Reportable Segment (in millions, except percentages) MedSurg % of net sales of reportable segments Cardiovascular % of net sales of reportable segments Total Net sales, as reported $ 1,722 $ 3,343 $ 5,065 Impact of foreign currency fluctuations 1 3 5 Net sales of reportable segments 1,723 3,346 5,069 Segment expenses 1,151 66.8 % 2,201 65.8 % Adjusted operating income of reportable segments(1) 572 33.2 % 1,145 34.2 % 1,718 Unallocated amounts: Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments (299) Goodwill and other intangible asset impairment charges, acquisition/divestiture- related net charges (credits), restructuring and restructuring-related net charges (credits), litigation-related net charges (credits) and EU MDR implementation costs (146) Amortization expense (225) Operating income (loss), as reported $ 1,048 (1) Calculated as Net sales of reportable segments less Segment expenses.
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Q3 2026 Financial & Operational Highlights | October 28, 2026 27 Appendix C - Additional Non-GAAP Reconciliations Adjusted Tax Rate Three Months Ended September 30, 2026 Tax Rate, as reported 20.8 % Non-GAAP adjustments (6.6) % Tax Rate, adjusted 14.3 % Three Months Ended September 30, 2026Adjusted Below-the-Line Expenses (in millions) Below-the-line expenses, as reported $ (95) Non-GAAP adjustments (29) Below-the-line expenses, adjusted $ (124)
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Q3 2026 Financial & Operational Highlights | October 28, 2026 28 Appendix C - Additional Non-GAAP Reconciliations Three Months Ended September 30, 2026 Interventional Cardiology Net Sales Growth (in millions, except percentages) $ % Net sales growth, as reported $ 818 19.3 % Impact of foreign currency fluctuations (2) (0.3) % Net sales growth, operational 816 19.0 % Impact of certain acquisitions/divestitures — — % Net sales growth, organic $ 816 19.0 % Three Months Ended September 30, 2026 Vascular Therapies Net Sales Growth (in millions, except percentages) $ % Net sales growth, as reported $ 454 1.2 % Impact of foreign currency fluctuations (1) (0.2) % Net sales growth, operational 454 1.0 % Impact of certain acquisitions/divestitures — — % Net sales growth, organic $ 454 1.0 %
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Q3 2026 Financial & Operational Highlights | October 28, 2026 29 Appendix C - Additional Non-GAAP Reconciliations Three Months Ended September 30, 2026EP International Net Sales Growth Net sales growth, as reported 0.7 % Impact of foreign currency fluctuations 1.2 % Net sales growth, operational 1.9 % Impact of certain acquisitions/divestitures — % Net sales growth, organic 1.9 % Three Months Ended September 30, 2026Watchman U.S. Net Sales Growth Net sales growth, as reported (6.8) % Impact of foreign currency fluctuations — % Net sales growth, operational (6.8) % Impact of certain acquisitions/divestitures — % Net sales growth, organic (6.8) % Three Months Ended September 30, 2026Watchman International Net Sales Growth Net sales growth, as reported 4.9 % Impact of foreign currency fluctuations (0.9) % Net sales growth, operational 4.0 % Impact of certain acquisitions/divestitures — % Net sales growth, organic 4.0 % Three Months Ended September 30, 2026EP U.S. Net Sales Growth Net sales growth, as reported (8.4) % Impact of foreign currency fluctuations — % Net sales growth, operational (8.4) % Impact of certain acquisitions/divestitures — % Net sales growth, organic (8.4) %
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Q3 2026 Financial & Operational Highlights | October 28, 2026 30 Appendix C - Additional Non-GAAP Reconciliations Q4 2026 Estimate Full Year 2026 EstimateNet Sales Guidance (Low) (High) Reported growth/(decline) (3.00) % (1.00) % ~4.25% Impact of foreign currency fluctuations — % — % ~(0.5)% Operational growth/(decline) (3.00) % (1.00) % ~3.75% Impact of certain acquisitions/divestitures — % — % — % Organic growth/(decline) (3.00) % (1.00) % ~3.75% Q4 2026 Estimate Full Year 2026 Estimate Earnings per Share Guidance (Low) (High) (Low) (High) Adjusted results(1) $ 0.77 $ 0.79 $ 3.16 $ 3.18 (1) The company has not provided reconciliations of certain forward-looking adjusted metrics to their respective GAAP measure as it is unable to predict with reasonable certainty and without unreasonable efforts the impact of certain items such as intangible asset impairment charges, acquisition-related charges, restructuring and restructuring-related charges and litigation-related charges, among other items. The combined impact of these items is uncertain, dependent on various factors and cannot be predicted with reasonable certainty, and could be material to our GAAP measures of financial results. Estimated Tax Rate Full Year 2026 Estimate Tax Rate, adjusted(1) ~12.0% Estimated Adjusted Below-the-Line Expenses (in millions) Full Year 2026 Estimate Below-the-line expenses, adjusted(1) ~$485 Estimated Adjusted Operating Margin Full Year 2026 Estimate Operating Margin, adjusted(1) ~27.6%
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Q3 2026 Financial & Operational Highlights | October 28, 2026 31 BSX: Acronym Reference Guide AF Atrial Fibrillation CODM Chief Operating Decision Maker CRM Cardiac Rhythm Management DCB Drug Coated Balloon DIOH Days Inventory on Hand DRG Diagnosis-Related Group Reimbursement DSO Days Sales Outstanding EBITDA Earnings Before Interest, Taxes, Depreciation, and EMEA Europe, the Middle East and Africa Endo Endoscopy EP Electrophysiology EPS Earnings per Share ERG Employee Resource Group ESG Endoscopic Sleeve Gastroplasty EU MDR European Union Medical Device Regulation FDA Food and Drug Administration FY Full Year GAAP Generally Accepted Accounting Principles GI Gastrointestinal ICVT Interventional Cardiology & Vascular Therapies IEEPA International Emergency Economic Powers Act IO&E Interventional Oncology & Embolization IVL Intravascular Lithotripsy LAAC Left Atrial Appendage Closure LEED Leadership in Energy and Environmental Design NM Neuromodulation PCI Percutaneous Coronary Intervention PFA Pulsed Field Ablation PMDA Pharmaceuticals and Medical Device Agency PNS Peripheral Nerve Stimulation R&D Research and Development SCS Spinal Cord Stimulation TCT Transcatheter Cardiovascular Therapeutics TAVR Transcatheter Aortic Valve Replacement TCAR Transcarotid Artery Revascularization VBP Volume-based Procurement WM Watchman