Mr. Garen Sarafian reports

BAUSCH HEALTH ANNOUNCES US$50 MILLION SHARE REPURCHASE PROGRAM

Bausch Health Companies Inc.'s board of directors has authorized a share repurchase program under which the company may repurchase its common shares for a total aggregate purchase price of up to $50-million (U.S.).

The primary objective of the share repurchase program is to manage the potential dilutive impact of future employee equity-based compensation.

Purchases under the share repurchase program may commence on Nov. 3, 2026, and the share repurchase program will terminate no later than Nov. 3, 2027. Purchases may be made in the open market on the New York Stock Exchange and other published markets in the United States. The share repurchase program is being conducted in reliance on the exemption set forth in Section 4.8(3) of National Instrument 62-104, Take-Over Bids and Issuer Bids.

Common shares will be purchased at the prevailing market price at the time of purchase, subject to a maximum price established by the board of directors. The value of any purchases in Canadian dollars will depend on the market price and the applicable exchange rate at the time of each purchase.

The actual number of common shares repurchased and the timing and price of any repurchases will depend on market conditions, applicable legal requirements and other factors. The company will not repurchase more than 5 per cent of the 374,266,716 common shares outstanding as of Oct. 23, 2026. The company is not obligated to acquire any particular number of common shares, and the share repurchase program may be suspended, modified or discontinued at any time. All common shares acquired under the share repurchase program will be cancelled.

About Bausch Health Companies Inc.

Bausch Health is a global, diversified pharmaceutical company enriching lives through its relentless drive to deliver better health care outcomes. The company develops, manufactures and markets a range of products primarily in gastroenterology, hepatology, neuroscience, dermatology, dentistry, aesthetics, international pharmaceuticals and eye health, through its controlling interest in Bausch + Lomb. The company's ambition is to be a globally integrated health care company, trusted and valued by patients, HCPs, employees and investors.

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