Bausch Health Companies Investor Conference Presentation Deck
Strategic Alternatives Timeline ¹
Internal Organizational Design / Structure
Bausch+Lomb
Spinoff Announced
August
2020
$100M Debt
Paydown
5
$150M Debt
Paydown
Jan.
2021
$275M Debt
Paydown
Financial Segmentation
of Bausch + Lomb
Bausch+Lomb Leadership
Announcement
Announced sale of
$100M Debt Amoun Pharmaceutical
Paydown
$100M Debt
Paydown
Capital Structure
May
2021
$100M Debt
Paydown
$100M Debt
Paydown
Bausch Pharma² CEO Announced
Solta Medical Spinoff and
Leadership Announced
$100M Debt
Paydown
Significant Debt Paydown Since Announcement of
Strategic Alternatives Process: ~$1.8B Debt Paydown5
All internal objectives
necessary for spinoff achieved
Oct.
2021
$350M Debt
Paydown
Bausch Pharma²
CFO Announced
$150M Debt
Paydown
Completed sale of Amoun
Pharmaceutical; $600M debt paydown
in connection with Amoun sale
Solta Medical IPO
Dec. 2021/Jan. 2022 timeframe³
Bausch + Lomb IPO
-30 days after the
Solta Medical IPO³
Spinoff to occur following the
expiry of customary lock-ups and
achievement of our target net
leverage ratios4
This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities.
1. See Slide 1 for further information on forward-looking statements.
BAUSCH- Health 2 The remainder of Bausch Health is referred to as "Bausch Pharma" and will assume a new name upon the separation of the Company's eye health business, Bausch + Lomb.
3. Subject to market conditions and regulatory, stock exchange and other approvals.
4. Subject to receipt of applicable shareholder and other necessary approvals and the achievement of our target net leverage ratios (Bausch+Lomb <2.5x and Bausch Pharma -6.5x-6.7x at the time of the spinoff).
5. Net of $365M revolver draw down as of 11/8/2021.View entire presentation