Mr. George Gadkowski reports

BAUSCH + LOMB ANNOUNCES REFINANCING OF OUTSTANDING TERM B LOANS

Bausch + Lomb Corp. has allocated a $2,802,125,000 tranche (the replacement term loans) of new Term B loans, the proceeds of which will be used to refinance all of its outstanding Term B loans due 2031 and its outstanding Term B loans due 2028. The applicable margin is anticipated to be (i) 3.75 per cent per annum for replacement term loans with an interest rate determined by reference to term SOFR (secured overnight financing rate) and (ii) 2.75 per cent per annum for replacement term loans with an interest rate determined by reference to the alternate base rate; the margin applicable to the replacement term loans represents a 0.50 per cent per annum reduction for the third amendment term loans and a 0.25 per cent per annum reduction for the first incremental term loans. The replacement term loans will mature on Jan. 15, 2031, which is same maturity date as the third amendment term loans and which represents a maturity extension of the first incremental term loans from Sept. 29, 2028.

The foregoing transactions are anticipated to close in the first quarter of 2026; however, there can be no assurances that the company will be able to complete the foregoing transactions on the terms described above or at all.

About Bausch + Lomb Corp.

The company's mission is simple -- Bausch helps people see better to live better, all over the world. For nearly two centuries the company evolved with the changing needs of patients and customers, and its commitment to innovation and improving the standard of care in eye health has never been stronger. From contact lenses to prescription products, over-the-counter options, surgical devices and more, the company is turning bold ideas into better outcomes through passion, perseverance and purpose.

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