Slide 1: Q3 2025 Highlights
Q3 2025 Highlights October 22, 2025 1 Q3 2025 Financial & Operational Highlights | October 22, 2025
Slide 2: Safe Harbor for Forward-Looking Statements and Use of Document
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 st
Slide 3: Q3 2025 Highlights
Q3 2025 Highlights Financial Highlights Operational Highlights • Net sales growth: • Announced Pharmaceuticals and Medical Device Agency (PMDA) approval in Japan for expanded labeling of the • +20.3% reported, +19.4% operational*, +15.3% FARAPULSE™ Pulsed Field Ablation (PFA) System to include organ
Slide 4: Reported Net Sales by Segment and Business
Reported Net Sales by Segment and Business Q3 2025 Reported Net Sales: $5.065B Net Sales by Business; Segment Percentage of Total Net Sales Cardiology MedSurg NM $293M 34% Uro $865M $682M $578M Cardiology $512M Endo $2.641M $747M $686M EP PI CRM Watchman $702M ICTx Cardiovascular 66% 4 Q3 2025 Finan
Slide 5: MedSurg Performance Summary
MedSurg Performance Summary Measure Q3 2025 Q3 2024 Change Y/Y Reported Net Sales $1.722B $1.479B +16.4% Adjusted Operating Margin* 33.0% 34.9% -190 bps * Represents operating income as a percentage of operational net sales, both based on internally-derived standard currency exchange rates to exclud
Slide 6: Cardiovascular Performance Summary
Cardiovascular Performance Summary Measure Q3 2025 Q3 2024 Change Y/Y Reported Net Sales $3.343B $2.731B +22.4% Adjusted Operating Margin* 34.1% 31.5% +260 bps * Represents operating income as a percentage of operational net sales, both based on internally-derived standard currency exchange rates to
Slide 7: Our Approach to Corporate Responsibility
Our Approach to Corporate Responsibility 7 Q3 2025 Financial & Operational Highlights | October 22, 2025
Slide 8: Q3 2025 Net Sales vs. Q3 2024
Q3 2025 Net Sales vs. Q3 2024 Q3:25 Reported Organic* Growth Net Sales vs Q3:24 (in millions) Endoscopy $747 9% Urology $682 5% Neuromodulation $293 9% MedSurg $1,722 8% Interventional Cardiology Therapies $686 3% Watchman $512 35% Cardiac Rhythm Management $578 2% Electrophysiology $865 63% Cardiol
Slide 9: Income Statement Information
Income Statement Information Non-GAAP Reconciliation Three Months Ended September 30, 2025 (unaudited) Acquisition/ Intangible Divestiture- Restructuring and Investment Asset Related Net Restructuring- Portfolio Net EU MDR Deferred Tax Amortization Impairment Charges Related Net Losses Implementatio
Slide 10: Working Capital & Cash Flow Metrics
Working Capital & Cash Flow Metrics Days Sales Outstanding (DSO) Free Cash Flow* Sep Jun Mar Dec Sep Q3 Q3 2025 2025 2025 2024 2024 2025 2024 51 51 52 52 55 $1,163M $822M Days Inventory on Hand (DIOH) Capital Expenditures Sep Jun Mar Dec Sep Q3 Q3 2025 2025 2025 2024 2024 2025 2024 177 159 178 176 1
Slide 11: Use of Non-GAAP Measures
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 reconciliatio
Slide 12: Appendix A Net Sales Detail
Appendix A Net Sales Detail 12 Q3 2025 Financial & Operational Highlights | October 22, 2025
Slide 13: Appendix A - Net Sales Detail - MedSurg
Appendix A - Net Sales Detail - MedSurg Three Months Ended September 30, 2025 and 2024 Year-over-Year Change Impact of Foreign Q3 Q3 Currency (in millions) 2025 2024 Reported Basis Fluctuations Operational Basis MEDSURG SEGMENT: ENDOSCOPY UNITED STATES $ 462 $ 417 10.8 % — % 10.8 % INTERNATIONAL 285
Slide 14: Appendix A - Net Sales Detail - Cardiovascular
Appendix A - Net Sales Detail - Cardiovascular Three Months Ended September 30, 2025 and 2024 Year-over-Year Change Impact of Foreign Q3 Q3 Currency (in millions) 2025 2024 Reported Basis Fluctuations Operational Basis CARDIOVASCULAR SEGMENT: ICTx UNITED STATES $ 256 $ 212 20.9 % — % 20.9 % INTERNAT
Slide 15: Additional Information - Statement of Operations
Appendix B Additional Information - Statement of Operations 15 Q3 2025 Financial & Operational Highlights | October 22, 2025
Slide 16: Statement of Operations Profitability Margins
Appendix B - Statement of Operations Profitability Margins Three Months Ended Adjusted Gross Margin 9/30/2025 9/30/2024 Basis Points Change Gross Margin, as reported 69.9 % 68.8 % 110 Non-GAAP adjustments 1.1 % 1.6 % Gross Margin, adjusted 71.0 % 70.4 % 60 Three Months Ended Adjusted Operating Margi
Slide 17: Appendix C Additional Non-GAAP Reconciliations
Appendix C Additional Non-GAAP Reconciliations 17 Q3 2025 Financial & Operational Highlights | October 22, 2025
Slide 18: Reconciliations
Appendix C - Additional Non-GAAP Reconciliations Impact of Impact of Foreign Certain Q3 Q3 As Reported Currency Operational Acquisitions/ Organic (in millions) 2025 2024 Basis Fluctuations Basis Divestitures Basis ENDOSCOPY $ 747 $ 678 10.1 % (1.1) % 9.0 % — % 9.0 % UROLOGY 682 532 28.1 % (0.6) % 27
Slide 19: Reconciliations
Appendix C - Additional Non-GAAP Reconciliations Three Months Ended Free Cash Flow (in millions) 9/30/2025 Cash provided by (used for) operating activities $ 1,343 Proceeds on disposals of property, plant and equipment 0 Purchases of property, plant and equipment and internal use software (181) Free
Slide 20: Reconciliations
Appendix C - Additional Non-GAAP Reconciliations 12 Months Ended Reconciliation of Debt to Adjusted EBITDA (in millions) Q4 2024 Q1 2025 Q2 2025 Q3 2025 9/30/2025 Net income (loss) $ 562 $ 672 $ 795 $ 755 $ 2,784 Income tax (benefit) expense 23 133 146 183 485 Interest expense 80 82 90 87 339 Intere
Slide 21: Reconciliations
Appendix C - Additional Non-GAAP Reconciliations Three Months Ended Estimated Adjusted Below-the-Line Expenses (in millions) FY 2025 Adjusted Below-the-Line Expenses (in millions) 9/30/2025 Below-the-line expenses, as reported $ ~(210) Below-the-line expenses, as reported $ (110) Non-GAAP adjustment
Slide 22: Reconciliations
Appendix C - Additional Non-GAAP Reconciliations Three Months Ended September 30, 2025 % of net sales % of net sales of reportable of reportable Adjusted Operating Margin - by Reportable Segment MedSurg segments Cardiovascular segments Total Net sales, as reported $ 1,722 $ 3,343 $ 5,065 Impact of f
Slide 23: Reconciliations
Appendix C - Additional Non-GAAP Reconciliations Three Months Ended September 30, 2024 % of net sales % of net sales of reportable of reportable Adjusted Operating Margin - by Reportable Segment MedSurg segments Cardiovascular segments Total Total net sales, as reported $ 1,479 $ 2,731 $ 4,209 Impac
Slide 24: Reconciliations
Appendix C - Additional Non-GAAP Reconciliations Q4 2025 Estimate Net Sales Guidance (Low) (High) Full Year 2025 Estimate Reported growth 14.5 % 16.5 % ~20.0% Impact of foreign currency fluctuations (2.0) % (2.0) % ~(1.0)% Operational growth 12.5 % 14.5 % ~19.0% Impact of certain acquisitions/divest
Slide 25: BSX: Acronym Reference Guide
BSX: Acronym Reference Guide 25 Q3 2025 Financial & Operational Highlights | October 22, 2025