Bausch & Lomb Corp

Except as set forth below, 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, filed on February 18, 2026.

Our chairman and interim chief executive officer also serves as chief executive officer of BHC, and these overlapping roles may create competing demands on management time and attention and actual or perceived conflicts of interest, which, together with other potential disruptions caused by the transition to a new chief executive officer, could have a material adverse effect on our business, financial condition, cash flows and results of operations and could cause the market value of our common shares to decline.

In October 2026, we announced that Thomas Appio was appointed by our Board of Directors to serve as interim Chief Executive Officer, effective October 12, 2026, following the departure of our then-current chief executive officer, Brent Saunders. Mr. Appio also serves as chief executive officer and a member of the board of directors of BHC and, since August 2026, has served as Chairman of our Board of Directors. The overlapping roles at the Company and BHC may create competing demands on management time and attention, which could adversely impact us. 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—"Some of our directors and officers may have actual or potential conflicts of interest because of their equity ownership in BHC, and some of our directors may have actual or potential conflicts of interest because they also serve as directors of BHC” included in our Annual Report. Furthermore, although Mr. Appio has previously served in various leadership roles at the company prior to the IPO and is deeply familiar with our business and the industry through this and his role as chief executive officer of BHC, leadership transitions can be inherently disruptive and may create uncertainty regarding future strategic direction. For example, our new chairman and interim chief executive officer may implement changes to our business strategies, which could create disruption and uncertainty among management, employees, current and potential customers, other third parties with whom we do business and shareholders. Any of these factors relating to the appointment of our new chairman and interim chief executive officer could have a material adverse effect on our business, financial condition, cash flows and results of operations and could cause the market value of our common shares to decline.