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Topics that Matter -- Pay Equity

We work hard to remain transparent with our employees and raise topics that matter, like pay equity. In this spirit, we felt it was important to communicate openly about our ongoing efforts to increase representation and ensure equal pay for equal work. In early 2018, Wendy Carruthers, our senior vice president of Human Resources, shared the following message with employees.

Ensuring Equal Pay for Equal work

At Boston Scientific, providing equal pay for equal work is rooted in our values and essential to attract and retain a diverse and engaged workforce. Many of you have expressed an interest in understanding our approach to achieve and evaluate pay equity.

Our human resources team regularly conducts rigorous compensation analyses. Beginning in 2014, we went further by engaging an independent third party to conduct three pay analyses. Two of the analyses studied our global indirect labor (non-manufacturing employees) and the third focused on our global sales team. Each evaluation considered a range of factors including gender, job, years of experience, geography, and, for the U.S. and Puerto Rico, race and ethnicity were also considered.

We are pleased by the outcomes of these assessments.

In the few instances where we identified a gender disparity — which occurred in positions involving both men and women — we examined the circumstances and acted to increase pay where appropriate. And, for the U.S. and Puerto Rico, we found no pay disparities involving race or ethnicity. Our strong results reflect our longstanding practices to support a high-performance culture, including regularly benchmarking our global salaries, conducting internal parity audits and reviewing pay recommendations across the company as part of our annual compensation process. We will expand this work in 2018 with a global analysis of all employee pay, including manufacturing employees.

Continued focus on leadership diversity

Representation in leadership roles is equally important as the need for pay parity. We have instituted several programs that support this objective, including targeted development and succession planning, diversity recruiting and mandatory consideration of a pool of diverse candidates for open leadership roles. We have also introduced manager training to strengthen coaching and development of all employees, and expanded our education on workforce inclusion, including unconscious bias training.

Diversity is a core value and business imperative, and we will regularly report on our progress as we work to achieve diversity at every level. We each play an important part in driving success and sustaining an inclusive culture where there is equal opportunity for all. We do our best work to advance healthcare when we have a richness of perspectives and experience on our teams and when we can bring our whole selves to work. Thank you for our commitment to support these important goals.

Regards,

Wendy Carruthers

SVP, Human Resources

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