Bausch & Lomb Corp

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 14A

PROXY STATEMENT PURSUANT TO SECTION 14(a)

OF THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. )

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Message from the Chairman of the Board and Chief Executive Officer

April 10, 2026Dear Shareholders: 2025 was a year of disciplined execution and measurable progress across our business. We closed the year with a record fourth quarter, delivering strong revenue growth, meaningful EBITDA margin(1) expansion and clear operating leverage. These results reflect not only the strength of our portfolio, but also the consistency with which our teams around the world executed against the commitments we set.Importantly, our performance was broad-based. We delivered growth across Pharmaceuticals, Surgical and Vision Care, strengthened our leadership position in dry eye and continued to advance and launch products from a pipeline that spans the full spectrum of eye health and is designed to fuel both near-term results and long-term value creation.I encourage you to learn more about our 2025 performance by visiting the Investors section of www.bausch.com, and to attend Bausch + Lomb’s Annual Meeting of Shareholders on Wednesday, May 20, 2026, at 10:30 a.m. (Eastern Daylight Time). We will once again conduct the meeting in an exclusively virtual format via live webcast, which we believe facilitates broader shareholder participation.On behalf of our Board of Directors, thank you for your continued support and confidence in Bausch + Lomb. The progress we’ve made reinforces our belief that we are on the right path to becoming the premier eye health company in the world.Sincerely,Brenton L. Saunders Chairman of the Board and Chief Executive Officer

(1)EBITDA margin is a non-GAAP ratio. Please see Appendix C for more information on non-GAAP financial measures and ratios.

2026 PROXY STATEMENT 1

Notice of Annual Meeting of Shareholders

To the Shareholders of Bausch + Lomb Corporation:

NOTICE IS HEREBY GIVEN that the 2026 Annual Meeting of Shareholders (the “Meeting”) of Bausch + Lomb Corporation (the “Company,” “we” or “our”), will be conducted in an exclusively virtual format atwww.virtualshareholdermeeting.com/BLCO2026 at 10:30 a.m. Eastern Daylight Time, on Wednesday, May 20, 2026, for the following purposes:

The record date for the Meeting is March 23, 2026. Only shareholders at the close of business on March 23, 2026 will be entitled to notice of, and to vote at, the Meeting. The management proxy circular and proxy statement that accompanies this Notice of Annual Meeting of Shareholders contains additional information regarding the proposals to be considered at the Meeting, and shareholders are encouraged to read it in its entirety before voting.

We encourage shareholders to vote as soon as possible.

To be valid, your vote or proxy appointment must be received by Broadridge Financial Solutions, Inc. by no later than 11:59 p.m. (EDT) on May 19, 2026, or, if the Meeting is adjourned or postponed, not less than 48 hours (not including Saturdays, Sundays or applicable Canadian holidays) prior to the reconvened Meeting (the “proxy deadline”). Nonregistered shareholders should return their voting instruction forms to their intermediary using one of the specified methods by the date specified in their voting instruction form, and in any case at least one business day in advance of the proxy deadline (or such earlier deadline as your intermediary may specify on your proxy card or voting instruction form). For additional information on how to vote, please see “Questions about Voting” starting on page 90 in the accompanying management proxy circular and proxy statement.

By Order of the Board of Directors,

A. Robert D. Bailey

Executive Vice President and Chief Legal Officer

Dated: April 10, 2026

Table of Contents

2026 PROXY STATEMENT 3