BAUSCH + LOMB REPORTS MORE THAN 41 MILLION UNITS OF CONTACT LENS, EYE AND LENS CARE MATERIALS RECYCLED THROUGH ONE BY ONE AND BIOTRUE EYE CARE RECYCLING PROGRAMS

LAVAL, Quebec, and TRENTON, N.J. - Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (NYSE/TSX: BHC) ('Bausch Health'), announced its exclusive ONE by ONE and Biotrue Eye Care Recycling programs have recycled a total of 41,358,603 million units, or 248,516 pounds, of used contact lens, eye and lens care materials. The programs are made possible through a collaboration with TerraCycle, a world leader in the collection and repurposing of hard-to-recycle post-consumer waste.

'An integral part of our commitment to helping people see better to live better is our focus on sustainability,' said Joe Gordon, U.S. president, Bausch + Lomb. 'With our ONE by ONE Recycling program and the new Biotrue Eye Care Recycling program, we have greatly expanded the ways we can help reduce the environmental footprint of these materials in conjunction with eye care professionals, patients and consumers all across the United States. We're incredibly proud of the significant impact these programs have made to date, for the ongoing collaboration we have with TerraCycle, and we look forward to building upon them for years to come.'

According to The Association of Plastic Recyclers, the industry standard screen size, which identifies and removes unrecyclable plastics, filters out small-sized materials as part of the recycling process1. Standard recycling facilities also only accept certain types of plastic. As a result, contact lens, eye and lens care materials don't typically end up getting processed and are diverted to landfills.

'Used contact lenses, eye and lens care products and the materials associated with them are waste streams that are often overlooked in standard recycling practices, which can have a tremendous impact on the buildup of environmental waste,' said Tom Szaky, founder and CEO, TerraCycle. 'Participating in these unique recycling programs we have with Bausch + Lomb offer people the ability to help ensure their eye health-related materials are properly recycled and don't end up in waterways and landfills.'

Since launching earlier this year, the company's Biotrue Eye Care Recycling program, which is the first and only eye care recycling program in the United States, has collected more than 65,000 eye drop single dose units, lens cases and lens solution caps*, as well as Biotrue Hydration Boost Lubricant eye drops multi-dose bottles. The ONE by ONE Recycling program collected more than 41 million units of used contact lenses, top foils and blister packs since launching in 2016.

For more information on the ONE by ONE and Biotrue Eye Care Recycling programs, visit https://www.biotrue.com/recycling.

About the Biotrue Eye Care Recycling Program

The Bausch + Lomb Biotrue Eye Care Recycling program is the first and only eye care recycling program in the United States. This program allows consumers who participate to properly recycle all brands of their eye drop single dose units, lens cases and lens solution caps*, as well as Biotrue Hydration Boost Lubricant eye drops multi-dose bottles. Once consumers collect these items, they can be mailed to TerraCycle using a pre-paid shipping label. When the waste arrives at the TerraCycle facility, it is cleaned and melted into hard plastic pellets that can be used to make new recycled products.

About the ONE by ONE Recycling Program

The Bausch + Lomb ONE by ONE Recycling program is the first and only sponsored contact lens recycling program in the United States. This award-winning program collects used contact lenses, top foil and opened plastic blister packs from any brand and is available to contact lens wearers and eye care professionals. More than 7,000 eye care practices are registered as official recycling centers of the program. To participate, contact lens wearers can bring their used contact lenses and packaging to one of these practices, which collects the used lens materials in a custom recycling bin provided by Bausch + Lomb. Once the bin is filled, the optometry practice will ship the materials to TerraCycle for proper recycling using a pre-paid shipping label.

About TerraCycle

TerraCycle is an innovative waste management company with a mission to eliminate the idea of waste. Operating nationally across 20 countries, TerraCycle partners with leading consumer product companies, retailers and cities to recycle products and packages, from dirty diapers to cigarette butts, that would otherwise end up being landfilled or incinerated. In addition, TerraCycle works with leading consumer product companies to integrate hard to recycle waste streams, such as ocean plastic, into their products and packaging. Its new division, Loop, is the first shopping system that gives consumers a way to shop for their favorite brands in durable, reusable packaging. TerraCycle has won over 200 awards for sustainability and has donated over $44 million to schools and charities since its founding more than 15 years ago and was named #10 in Fortune magazine's list of 52 companies Changing the World. To learn more about TerraCycle or get involved in its recycling programs, please visit www.terracycle.com.

About Bausch + Lomb

Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit www.bausch.com.

About Bausch Health

Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. For more information, visit www.bauschhealth.com and connect with us on Twitter and LinkedIn.

Forward-looking Statements

This news release may contain forward-looking statements, which may generally be identified by the use of the words 'anticipates,' 'hopes,' 'expects,' 'intends,' 'plans,' 'should,' 'could,' 'would,' 'may,' 'believes,' 'estimates,' 'potential,' 'target,' or 'continue' and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, launches and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

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