Barclays Global Health Care...

1

Dan BrennanExecutive Vice President and Chief Financial Officer

Barclays Global Health Care ConferenceMarch 11, 2014

This presentation may include products that have not been approved or cleared by FDA and are not available for sale in the United States.

2 Barclays Global Health Care Conference– March 11, 2014

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” 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.



Disclaimers

This presentation includes products that have not been approved or cleared by the U.S. Food

and Drug Administration and are not available for sale in the U.S.

All future product approval and launch dates are based on estimates of completion of

regulatory submissions, review and approval or clearance, as well as other business

considerations.

For reconciliations of non-GAAP financial measures used in these presentations to the most

directly comparable GAAP figures, please refer to the Investor Relations section of our

website at www.bostonscientific.com.



Building a winning foundation

• Building momentum: exceeding plans and expectations

• Competing in large global markets: challenging but opportunities exist

• Executing our strategic plan: accelerating sales and adjusted EPS growth

• Delivering meaningful innovation: developing a differentiated pipeline

• Leading globally: fostering a “winning spirit”



Interventional Cardiology

$2.0B

Cardiac Rhythm Management

$1.9B

Urology &Women’s Health$505M

Neuromodulation$453M

Electrophysiology $155M Endoscopy

$1.3B

Peripheral Interventions

$789M2013 Revenue by Business Unit

Rhythm Management

Cardiovascular

MedSurg

An industry leader; innovating in large markets



2013 highlights

• Established a leaner global operating model

• Returned to operational revenue growth*

• Raised financial guidance: revenue and adjusted EPS

• Grew faster than the market in 5 of 7 business units**

• Advanced new adjacency pipeline

• Closed acquisition of Bard EP (November 1)

• Strengthened employee engagement

The turnaround is ahead of schedule and building momentum*Operational revenue is a non-GAAP measure that excludes the impact of foreign exchange and the divested Neurovascular business. For reconciliations of non-GAAP measures to the most directly comparable GAAP measures, please refer to the Investor Relations section of our website www.bostonscietific.com/investors. **Source: BSC estimates



Investor Day Guidance

2013 2013 Actual

Investor Day Goals

2014- 20152014 Plan Guidance

OperationalRevenue* (2%) to 2% +2% Low-single digit +3% to 5%

Adjusted Op. Margin* 18% to 19% 19% Improve by

+100 bps annually ~20%

AdjustedEPS* $0.64 to $0.70 $0.73 Mid / high-

single digit growth $0.75 to $0.80

AdjustedFCF*

Strong cash flow

Strong cash flow Strong cash flow Strong cash flow

Financial results are on track

*Source: BSC estimates. All numbers are Non-GAAP and exclude goodwill and other intangible asset impairment charges, acquisition and divestiture-related net credits, litigation, and restructuring-related charges, discrete tax items and amortization expense. For reconciliations of non-GAAP financial measures to the most directly comparable GAAP figures, please refer to the Investor Relations section of our website at www.bostonscientific.com.



Portfolio mix improving

2013 Revenue Mix $7.2B*

Adjacencies0.6%

MedSurg / PI43%

IC/CRM55%

EP2%

Adjacencies13%

MedSurg / PI40%EP

4%

IC/CRM43%

2017Estimated Revenue Mix**

Revenue growing and mix shifting into faster growth markets

* Net of $58M of revenue from divested businesses.** Source: BSC estimates



Adjacencies to contribute

meaningfully to growth

EXPANDInto High Growth

Adjacencies

Emerging markets to grow from 8% to 15% of revenue by

2017*

DRIVEGlobal

Expansion

Operating margin** projected to

improve from 19% to 25% by 2017

FUNDThe Journey

to Fuel Growth

New commercial capabilities to help teams deliver plan

DEVELOPKey

Capabilities

STRENGTHENExecution to Grow Share

Core growth to continue to improve

Strategic imperatives

*Growth rates are on a constant currency basis. **Adjusted operating margin.Constant currency growth rates and adjusted operating margin are both non-GAAP financial measures; for reconciliations of non-GAAP financial measures to the most directly comparable GAAP figures, please refer to the Investor Relations section of our website at www.bostonscientific.com. Source: BSC estimates



Strengthened execution in core markets

PRECISIONSPECTRA®

First 32-contact &multiple lead spinal cord stim. platform

AUTOGEN™X4

World’s smallest & thinnest devices

Longevity advantage

ACUITY™ X4

PromusPREMIER™

U.S. launch Q4:13Enhanced deliveryPremier outcomes

Synergy™

Targeted 90-day drug & polymer absorption

S-ICD™

Protection without touching the heart

Meaningful innovation to drive share gainsCaution: In the U.S., AUTOGEN™X4, ACUITY™X4, and Synergy™ are investigational devices and not available for sale.

Next gen quad lead17 pacing vectorsUS IDE trial 2014



Market expansion with differentiated portfolio

Alair®

Over 350 treatment sites worldwide

Watchman™

Awaiting U.S. & Brazilapprovals;

approved in China

Lotus™

Expanding in EU;U.S. IDE trial 2014

Rhythmia™

Global launch mid-2014

Vessix™

Determining U.S. IDE clinical program

Deep Brain Stim

IDE trial began 2013; 1M Americans with Parkinson’s disease

Significant clinical advances being made to accelerate long-term growth Caution: In the U.S., the Watchman™ LAA closure device, and Vercise DBS system, investigational devices and not available for sale. In the U.S., the Lotus percutaneous valve and the Vessix system are in development and not available for sale.



2013BSC Revenue

U.S.46%

International **

39%

2017E

U.S.52%

International**40%

EmergingMarkets

8%

EmergingMarkets

15%

2013 BSC Highlights

• Global operating units

• New capabilitiesin Emerging Markets

• Emerging markets revenue +20% Y/Y*

• BRIC revenue +27% Y/Y*

Driving global expansion

BSC Revenue

Emerging Markets becoming a meaningful growth driver*Source: BSC estimates. Growth rates are on a constant currency basis. Constant currency growth rates are non-GAAP financial measures; for reconciliations of non-GAAP financial measures to the most directly comparable GAAP figures, please refer to the Investor Relations section of our website at www.bostonscientific.com/investors.**Excluding Emerging Markets.



• Deliver revenue commitments per plan

• Improve OI contribution of new adjacencies

• New products with accretive margins

• Value initiatives and restructuring

• Lower SG&A with a focus on CRM

• Reduce corporate infrastructure0%

5%

10%

15%

20%

25%

30%

2012A 2017E

Operating Margin* Expansion

Significant opportunity to improve margins

*Adjusted Operating Margin is non-GAAP and excludes goodwill and other intangible asset impairment charges, acquisition and divestiture-related net credits, litigation, and restructuring-related charges, discrete tax items and amortization expense. For reconciliations of non-GAAP financial measures to the most directly comparable GAAP figures, please refer to the Investor Relations section of our website at www.bostonscientific.com.



Building a winning foundation

• Building momentum: exceeding plans and expectations

• Competing in large global markets: challenging but opportunities exist

• Executing our strategic plan: accelerating sales and adjusted EPS growth

• Delivering meaningful innovation: developing a differentiated pipeline

• Leading globally: fostering a “winning spirit”


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