Bausch + Lomb Corporation Announces IPO Pricing

LAVAL, QC and VAUGHAN, ON, May 5, 2022 /PRNewswire/ — Bausch + Lomb Corporation (“Bausch + Lomb”), a wholly owned subsidiary of Bausch Health Companies Inc. (NYSE/TSX: BHC) (“Bausch Health”), today announced the pricing of its initial public offering (“IPO”) of 35,000,000 common shares at a public offering price of $18.00 per share. A wholly owned subsidiary of Bausch Health (the “Selling Shareholder”) is offering all of the common stock, and Bausch + Lomb will not receive any proceeds from the IPO. The selling shareholder has granted the underwriters a 30-day option to purchase up to 5,250,000 additional common shares of Bausch + Lomb to cover over-allotments, if any, at the initial public offering price, less commissions subscription.

The common shares have been approved for listing on the New York Stock Exchange (“NYSE”) and conditionally approved for listing on the Toronto Stock Exchange (“TSX”). The Common Shares are expected to begin trading on the NYSE and “as and when issued” on the TSX on May 6, 2022, in each case under the symbol “BLCO”. The offer is expected to close on May 10, 2022subject to customary closing conditions.

Following the IPO, Bausch Health, together with its subsidiaries, will own approximately 90% of the common stock of Bausch + Lomb, or 88.5% of the common stock of Bausch + Lomb if the underwriters’ over-allotment option is fully exercised.

Morgan Stanley and Goldman Sachs & Co. LLC are acting as co-lead bookkeepers for the IPO. Citigroup, JP Morgan, Barclays, BofA Securities, Guggenheim Securities, Jefferies, Evercore ISI, Wells Fargo Securities and Deutsche Bank Securities are acting as joint bookrunners for the IPO, and DNB Markets, HSBC, Truist Securities, AmeriVet Securities, Loop Capital Markets, Ramirez & Co., Inc., R. Seelaus & Co., LLC, Siebert Williams rod and Stern are serving as co-managers of the IPO.

A registration statement relating to these securities has been filed with and declared effective by the United States Securities and Exchange Commission (“SEC”) on May 5, 2022and a receipt has been obtained for a final PREP base prospectus which has been filed with the securities authorities in each of the provinces and territories of Canada (other than Quebec) on May 5, 2022. The IPO is done only by means of a prospectus. When available, copies of the final prospectus and the completed PREP prospectus containing pricing and other important information relating to the common shares and the offering may be obtained from Morgan Stanley & Co. LLC, Attn : Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by phone at (866) 471-2526 or by email at [email protected]. A copy of the completed PREP Prospectus will be filed and will be available on SEDAR at by May 9, 2022.

No securities regulatory authority has approved or disapproved of the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no sale of these securities in any state, province, territory or jurisdiction in which any such offer, solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

About Bausch + Lomb
Bausch + Lomb, a leading global eye health company of Bausch Health Companies, Inc., is dedicated to protecting and enhancing the gift of sight for millions of people around the world, from from birth to every stage of life. Its comprehensive portfolio of over 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products, and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and sales footprint with more than 12,000 employees and a presence in nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, ON with headquarters in Bridgewater, New Jersey.

About Bausch Health
Bausch Health Companies Inc. (NYSE/TSX: BHC) (“Bausch Health”) is a global company whose mission is to improve people’s lives through our healthcare products. Bausch Health develops, manufactures and markets a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. Bausch Health delivers on its commitments by building an innovative company dedicated to advancing global health.

Forward-looking statements
This press release may contain forward-looking statements about the potential distribution of Bausch + Lomb common stock that Bausch Health will continue to hold following the completion of Bausch + Lomb’s IPO, which can generally be identified by the use of words “anticipates”, “hopes”, “expects”, “intends”, “plans”, “should”, “could”, “will”, “can”, “believes”, “under subject to” and variations or similar expressions, including statements regarding the closing of the IPO, whether the underwriters will exercise their over-allotment option, the number of shares BHC will hold after the IPO and expectations regarding the listing of common shares on the NYSE and the TSX These statements are based on management’s current expectations and beliefs and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition, actual results are subject to other risks and uncertainties that relate more broadly to Bausch Health’s overall business, including those described in more detail in Bausch Health’s most recent Annual Report on Form 10-K and detailed from time to time in other documents filed by Bausch Health. with the United States Securities and Exchange Commission and Canadian securities regulators, which factors are incorporated herein by reference.

Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual results, except as required by law.

SOURCE Bausch + Lomb Corporation; Bausch Health Companies Inc.

Luisa D. Fuller