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Bausch Health Companies Investor Conference Presentation Deck

Reconciliation of Reported Net Cash Provided by Operating Activities to Adj. Cash Flows from Operations (non-GAAP)¹ ($M) Cash provided by operating activities Payments of legacy legal settlements, net of insurance proceeds Payments of separation costs, separation-related costs, IPO costs, and IPO-related costs Cash provided by Amoun operating activities Adjusted Cash provided by operating activities (non-GAAP)¹ 20 BAUSCH- Health $ Three Months Ended September 30, 2020 1. See Slide 2 and this Appendix for further non-GAAP information.. 2021 564 (201) 28 (9) $ 382 $ $ 256 48 304 Nine Months Ended September 30, 2020 2021 $ 1,402 (71) 81 (34) $ 1,378 $ $ 717 43 760

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