Bausch Health Companies Inc.

Except as set forth below, as of the date of this Form 10-Q, there have been no material changes to the risk factors as disclosed in Item 1A. “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2025.

Our chief executive officer also serves as interim chief executive officer and chairman of the board of directors of Bausch + Lomb, and these overlapping roles may create competing demands on management time and attention and actual or perceived conflicts of interest.

In October 2026, our chief executive officer, Thomas Appio, was appointed interim chief executive officer of Bausch + Lomb, effective October 12, 2026. In addition, in August 2026, Mr. Appio was appointed to the board of directors and as chairman of the board of directors of Bausch + Lomb. The overlapping roles at the Company and Bausch + Lomb may create competing demands on management time and attention. In addition, these overlapping roles may result in conflicts, or the appearance of conflicts, with respect to matters involving or affecting both companies. See Item 1A. “Risk Factors—In connection with any B+L Separation, some of our directors and officers may have actual or potential conflicts of interest because of their equity ownership in Bausch + Lomb, and/or because they also serve as officers or directors of Bausch + Lomb, which could impact our ability to grow our business or cause reputational or other harm” included in our Annual Report on Form 10-K for the year ended December 31, 2025.