Mr. Chris Clark reports

BAUSCH + LOMB COMPLETES REFINANCING OF OUTSTANDING TERM B LOANS

Bausch + Lomb Corp. has closed the previously announced credit agreement refinancing. In connection with the closing, Bausch + Lomb has entered into a fourth amendment to its existing credit agreement providing for a $2,802,125,000 tranche of new Term B loans, the proceeds of which were used to refinance all of its outstanding Term B loans due 2031 and its outstanding Term B loans due 2028.

The amortization rate for the replacement term loans is 1.00 per cent per annum and the first instalment shall be payable on June 30, 2026. Pursuant to the fourth amendment, the applicable margin is (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 from the applicable margin that applied to the third amendment term loans and a 0.25-per-cent per annum reduction from the applicable margin that applied to the first incremental term loans. The replacement term loans will mature on Jan. 15, 2031, which is the same maturity date that applied to the third amendment term loans and which represents an effective maturity extension of the first incremental term loans from Sept. 29, 2028.

About Bausch + Lomb Corp.

The company's mission is simple -- it helps people see better to live better, all over the world. For nearly two centuries it has 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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