Company: BLCO
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013244
Chunk: 33

Company: Bausch & Lomb Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 33
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ia                                                                    
 Hashad, 58                                                                   |     | Andrew J.                                                    
 Stewart, 50                                                  |
| Chairman of the                   
 Board and Chief Executive Officer |     | Executive Vice President and Chief Financial Officer |     | Executive Vice President and Chief 
 Legal Officer                      |     | Executive Vice President of Research & Development and Chief Medical Officer |     | President, Global Pharmaceuticals and International Consumer |

Executive Summary 2024 Performance Highlights As a leading global eye health company, our mission is simple, yet powerful – helping people see better to live better all over the world. In 2024, we were focused on executing phase two of our Roadmap to Accelerate Growth, driving broad-based growth, executing launches and our dry eye strategy, and elevating the standard of care through our pipeline. During this phase of our roadmap, we made progress against each area of focus:

| + | Launch new products to fuel growth; |

| + | Build on broad-based sales execution; |

| + | Strengthen and optimize the supply chain; |

| + | Drive operating efficiencies and margin expansion; and |

| + | Invest in innovation to drive strong, sustainable, long-term growth. |

| 36 |

TABLE OF CONTENTS

We demonstrated strong performance in 2024, growing revenue at or above market, building selling and operational excellence, and prioritizing pipeline innovation. The following summarizes our financial results for 2024, as disclosed in our Annual Report and our associated earnings materials available on our website ( www.bausch.com) and filed on SEDAR+ ( www.sedarplus.ca):

| GAAP REVENUES of 
 $4,791M          |     | GAAP NET INCOME/(LOSS) of 
 ($317M)                   |     | ADJUSTED EBITDA (NON-GAAP)(i)of 
 $878M                           |     | GAAP CASH GENERATED FROM OPERATIONS of 
 $232M                                  |

| (i) | Excludes Acquired In-Process Research and Development (IPR&D) of approximately $18 million. This is a non-GAAP measure. Please see Appendix B for additional information and a reconciliation of our GAAP to non-GAAP financial measures and ratios. |

Based on our performance against the pre-established 2024 financial targets, the bonus funding under our 2024 Annual Incentive Program was 107%, reflecting above target performance on Revenue and Adjusted EBITDA. For additional details regarding our 2024 Annual Incentive Program, see