Yehia Hashad Will Join Bausch + Lomb as EVP of R&D and CMO

Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health") has announced that Dr. Yehia Hashad will join Bausch + Lomb Corporation ("Bausch + Lomb") as executive vice president of Research & Development (R&D) and chief medical officer (CMO) effective Jan. 31, 2022.

Dr. Hashad will join Bausch + Lomb from Allergan/AbbVie, where for the past 11 years he held various roles, including leading Allergan's global clinical development program for its eye care portfolio. Prior to that, he was with Novartis Pharma AG for five years, where he focused on ophthalmology, and also with T3A Pharma Group for nearly 10 years.

"I am excited that Dr. Hashad will lead the R&D organization and serve as CMO at Bausch + Lomb. He brings more than 25 years of experience working in leading multinational pharmaceutical companies, including expertise in the vision care field, particularly ophthalmic pharmaceuticals," said Joseph C. Papa, chairman and CEO of Bausch Health. "Dr. Hashad will play a critical role in helping to shape the future of R&D at Bausch + Lomb."

"I am honored to join Bausch + Lomb, a fully integrated eye health company with nearly 170 years of history, and I look forward to working with Bausch + Lomb's very talented team of scientists, physicians and engineers to bring forward the next generation of innovative eye health products and services," said Dr. Hashad.

About Yehia Hashad, M.D.

Effective Jan. 31, 2022, Dr. Hashad will join Bausch + Lomb. Most recently, Dr. Hashad was with Allergan/AbbVie where he served as senior vice president and head of R&D for Allergan Aesthetics from 2020 through August 2021. There, he oversaw the development of more than 40 programs that spanned pharmaceutical products, fillers, reconstructive surgery, devices and consumer skin care. From 2010 until Allergan's acquisition by AbbVie in 2020, Dr. Hashad held a number of executive R&D positions at Allergan, including senior vice president and head of Global Clinical Development; vice president and global head of Clinical Development, Ophthalmology, Dermatology and Medical Aesthetics; and vice president and global head of the Ophthalmology and Retina therapeutic areas.

Prior to Allergan, Dr. Hashad spent five years with Novartis Pharma AG, where he served as a global medical director for age-related macular degeneration-related treatments Visudyne® and Lucentis® and as a medical director, Ophthalmology, for the European region. From 1996 to 2005, he held positions of increasing responsibility at T3A Pharma Group.

Dr. Hashad obtained his M.S.c. in Medical and Surgical Ophthalmology from Cairo University and a business degree from INSEAD in France. He previously served on the boards of The Glaucoma Research Foundation and the National Alliance of Eye and Vision Research and is currently a board adviser for the University of California Irvine Research Center.

About Bausch + Lomb

Bausch + Lomb, a leading global eye health business of Bausch Health Companies, Inc., is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from the moment of birth through every phase of life. Its comprehensive portfolio of more than 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 commercial footprint with more than 12,000 employees and a presence in nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario with corporate offices in Bridgewater, New Jersey. For more information, visit www.bausch.com and connect with us on Twitter , LinkedIn, Facebook and Instagram.

About Bausch Health

Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health") is a global company whose mission is to improve people's lives with our health care 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 is delivering on its commitments as it builds an innovative company dedicated to advancing global health. For more information, visit www.bauschhealth.com and connect with us on Twitter and LinkedIn.

Forward-looking Statements

This news release may contain forward-looking statements, within the meaning of applicable securities laws (collectively, "forward-looking statements"), including, but not limited to, statements respecting the appointment of certain management team members and the anticipated effective date of such appointments and statements about the proposed initial public offering (IPO) of Bausch + Lomb and the completion of such IPO. Forward-looking statements may generally be identified by the use of the words "anticipates," "hopes," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions, and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result, and similar such expressions also identify forward-looking information. These forward-looking statements are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs, and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual and quarterly reports and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which risks and uncertainties are incorporated herein by reference. These risks and uncertainties also include, but are not limited to, the risks relating to the IPO transaction not being timely completed, if completed at all, including due to unfavorable market or other conditions or factors; risks related to the receipt of (or failure to receive) the regulatory approvals required in connection with the transaction and the timing of receipt of such approvals; the possibility that the other approvals for or conditions to the transaction are not received or satisfied on a timely basis or at all; changes in the anticipated timing for closing the transaction; business disruption during the pendency of or following the transaction; diversion of management time on transaction-related issues; the ability to retain Bausch + Lomb management team members; risks related to the reaction of customers and other parties to such transaction; the impact of such transaction on relationships with customers, suppliers, employees and other business counterparties; the risk that the proposed distribution of Bausch + Lomb common shares to Bausch Health's shareholders does not occur in the manner or on the timelines anticipated or at all; and other events that could adversely impact the completion of the transaction, including industry or economic conditions outside of Bausch Health's control. In particular, Bausch Health can offer no assurance that any IPO or distribution will occur at all, or that any such transaction or transactions will occur on the timelines, in the manner or on the terms anticipated by Bausch Health. They also include, but are not limited to, risks and uncertainties caused by or relating to the COVID-19 pandemic, including a possible resurgence of the virus and variant strains thereof and its impact on access to health care products and services, the availability and use of effective vaccines, the imposition of new social restrictions, disruptions in Bausch Health's supply chain and distribution channels or the ongoing macroeconomic and health care recovery from the impacts of the COVID-19 pandemic. In addition, certain material factors and assumptions have been applied in making these forward-looking statements, including the assumption that the risks and uncertainties outlined above will not cause actual results or events to differ materially from those described in these forward-looking statements.

Bausch Health believes that the material factors and assumptions reflected in these forward-looking statements are reasonable in the circumstances, but 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 news release or to reflect actual outcomes, unless required by law.