Bausch+Lomb IPO Presentation Deck
Robust EBITDA and cash generation with opportunity for expansion¹
Continuing to invest in growth and leverage platform
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BAUSCH+ LOMB
Net Income was $182M for full year 2021, as compared to Net (loss) of
$18M for full year 2020
Adjusted EBITDA (non-GAAP)1 was $821M for full year 2021, as
compared to $824M for full year 2020
Cash flows from operating activities was $873M for full year 2021, as
compared to $522M for full year 2020
Free cash flows (non-GAAP)¹ was $680M for full year 2021, as
compared to $269M for full year 2020
1.
FINANCIAL
PERFORMANCE
See Slide 2 and Appendix for more information regarding non-GAAP measures
Accelerated investment in 2021 to position
business for market share gains in broader
Covid recovery
Invested in commercial infrastructure and
marketing activities to continue momentum of
recent launches and to successfully launch
existing pipeline products to drive future margin
expansion opportunity
Targeting efficient tax structure, with 12-14%
tax rate
Disciplined working capital management
For 2020 and 2021, on average -60% free cash
flow margin (non-GAAP) as a percentage of
Adjusted EBITDA (non-GAAP)
-22% FY21 Adjusted EBITDA margin (non-
GAAP)¹, does not reflect all stand-alone costs
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