Bausch + Lomb Appoints Brent Saunders as Chief Executive Officer and Chair of the Board of Directors, Effective March 6, 2023

Bausch + Lomb Corporation (NYSE/TSX: BLCO) (“Bausch + Lomb” or the “Company”), a leading global eye health company dedicated to helping people see better to live better, announced the appointment of Brent Saunders as chief executive officer (“CEO”) and chair of the Board of Directors (“Board”) of the Company, effective March 6, 2023. Concurrent with this appointment, and as previously announced, Joseph C. Papa will step down from his roles as CEO and director. Additionally, effective upon Mr. Saunders’ appointment as chair of the Board, Thomas W. Ross, Sr. will become the Lead Independent Director of the Board.

To facilitate an orderly transition, Mr. Saunders will join Bausch + Lomb on Feb. 16, 2023, in an advisory capacity, where he will work closely with Mr. Papa.

Mr. Saunders will return to Bausch + Lomb after having served at the Company as CEO from 2010 to 2013. In total, he brings more than 25 years of leadership in health care, having served in president, CEO and chairman roles, among others, at several global pharmaceutical and health care companies, including Schering-Plough Corporation, Forest Laboratories Inc., Actavis plc, Allergan plc and The Beauty Health Company.

“We are delighted that the Board’s thorough search process has concluded with the appointment of Brent Saunders as Bausch + Lomb’s next CEO. His strong inner-working knowledge of the Company and unparalleled executive leadership experience in health care make him the ideal person to lead Bausch + Lomb at this pivotal time in our 170-year history,” said Thomas W. Ross, Sr., chair of the Board, Bausch + Lomb. “We are confident that Bausch + Lomb is well-positioned for the future under Brent’s leadership as the Company continues to focus on completing its full separation from Bausch Health.”

“On behalf of the Board, I also wish to express our deepest appreciation for Joe Papa’s contributions to Bausch + Lomb and Bausch Health. His leadership, ethical values and commitment to excellence across commercial, manufacturing and R&D have improved the lives of countless patients globally,” continued Mr. Ross.

“I am honored to once again lead Bausch + Lomb during this exciting time as a new publicly traded company. Over the course of the Company’s history, Bausch + Lomb has always stood at the forefront of cutting-edge scientific and technological optical advancements, and today, Bausch + Lomb is more focused than ever on developing and offering new treatments to meet unmet eye health needs,” said Mr. Saunders. “I am confident in our future, and I look forward to once again working alongside the more than 12,000 employees who live by and aspire to achieve the Bausch + Lomb mission of helping people see better to live better.”