Boston Scientific Strengthens Renewable Energy Targets
​in Europe with Spain Power Deal

MADRID, SPAIN, 12 December 2023 – Boston Scientific Corporation (NYSE: BSX) has activated its first European virtual power purchase agreement (VPPA) with leading renewable energy developer and solutions provider BayWa r.e., helping the company make progress on its decarbonisation targets.

Under this 10-year VPPA, BayWa r.e. will deliver additional electricity to the European power grid from the newly constructed and operational 15.1-megawatt (MW) Alcalá Solar Photovoltaic Plant close to Seville, Spain. In return, Boston Scientific can secure renewable energy to match approximately 80% of the company’s electricity consumption in Europe across all sites.

“Our focus on improving patient health is inextricably linked with the health of the planet, and we have a responsibility to protect the world we all share,” said Paudie O’Connor, senior vice president, Global Supply Chain, Boston Scientific. “This power purchase agreement underlines our commitment to sourcing renewable energy in one of the many growing regions for our company where environmental sustainability is increasingly paramount for our customers,” he added.

The VPPA also helps the company build on its C³ energy strategy, which aims to cut the use of energy, convert to renewable energy, and to compensate for unavoidable emissions. Within Europe and the U.S., Boston Scientific already obtains¹ 100% of its electricity from renewable sources², and aims to achieve this globally by the end of 2024, a key milestone in reaching carbon neutrality by 2030². ​

The company has set science-based net-zero and near- and long-term greenhouse gas (GHG) emission reduction targets, approved last year by the Science Based Targets initiative, the gold standard for business GHG emission standards. ​ ​

“This is the first VPPA BayWa r.e. has signed with a health care company, which shows that renewable energies keep gaining traction throughout a variety of different industry segments,” said Daniel Parsons, head of PPA at BayWa r.e. “We’ve been active in the renewables PPA market since its beginnings and are very happy to see this type of green energy solution becoming more and more established across Europe.”

More information about the environmental performance of Boston Scientific and other corporate responsibility initiatives is available in the company’s performance report.

About Boston Scientific

Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 40 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.eu and connect on Twitter and Facebook.

Cautionary Statement Regarding Forward-Looking Statements

This press release 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. These forward-looking statements include, among other things, statements regarding the financial and business impact of the transaction, expected net sales and related growth rates, product launches and product performance and impact. 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 press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.

Factors that may cause such differences include, among other things: future economic, political, competitive, reimbursement and regulatory conditions; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by extreme weather or other climate change-related events; labor shortages and increases in labor costs; new product introductions; expected procedural volumes; demographic trends; the closing and integration of acquisitions; intellectual property rights; litigation; financial market conditions; the execution and effect of our business strategy, including cost savings and growth initiatives; future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. 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 those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this press release.