BUSINESS Bausch + Lomb Announces Launch of Initial Public Offering By Staff Thursday, April 28, 2022 11:40 AM LAVAL, Quebec and VAUGHAN, Ontario—Bausch + Lomb Corp., a wholly owned subsidiary of Bausch Health Companies Inc. (NYSE/TSX: BHC) said this morning that it is launching an initial public offering (IPO), and intends to list its shares on both the New York Stock Exchange and Toronto Exchange. The company also noted that it will commence a roadshow with prospective investors for the IPO, which was first announced by the parent company in August 2020, as VMAIL reported.Bausch + Lomb will not receive any of the proceeds from the IPO, according to the announcement.In addition, following the IPO, Bausch Health is expected to hold approximately 90 percent of the common shares of Bausch + Lomb, or 88.5 percent of the common shares of Bausch + Lomb if the underwriters' over-allotment option is exercised in full.Parent company Bausch Health will offer 35 million common shares of Bausch + Lomb, with a current estimated price range of between $21 and $24 per share, according to the announcement.Bausch Health also intends to grant the underwriters a 30-day option to purchase up to an additional 5.25 million common shares of Bausch + Lomb to cover over-allotments, if any.Bausch + Lomb has applied to list its common shares on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX), in each case under the ticker symbol "BLCO."Morgan Stanley and Goldman Sachs & Co. are acting as joint lead book-running managers for the IPO. Citigroup, J.P. Morgan, Barclays, BofA Securities, Guggenheim Securities, Jefferies, Evercore ISI, Wells Fargo Securities and Deutsche Bank Securities are acting as joint book-running managers for the IPO, and DNB Markets, HSBC, Truist Securities, AmeriVet Securities, Loop Capital Markets, Ramirez & Co., Inc., R. Seelaus & Co., LLC, Siebert Williams Shank and Stern are acting as co-managers for the IPO.A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective, and a second amended and restated preliminary base PREP prospectus has been filed with the securities regulatory authorities in each of the provinces and territories of Canada (other than Quebec). The securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The second amended and restated preliminary base PREP prospectus contains important information relating to the securities. The second amended and restated preliminary base PREP prospectus remains subject to completion or amendment. The securities may not be sold, and offers to buy may not be accepted, before a receipt for the final base PREP prospectus has been issued.The IPO will be made only by means of a prospectus. Copies of the prospectus and, when available, the second amended and restated preliminary base PREP prospectus, may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, N.Y. 10014 or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, N.Y. 10282, by telephone at (866) 471-2526 or by email at email@example.com.