Bausch Health chair increases stake; directors resign

Mr. Garen Sarafian reports BAUSCH HEALTH ANNOUNCES INCREASE IN SHAREHOLDING BY ITS CHAIRPERSON OF THE BOARD AND BOARD CHANGES Paulson Capital Inc. and certain affiliates and managed funds have increased their ownership of Bausch Health Companies Inc.'s common shares. The increase reflects the acquisition by Paulson Capital and certain affiliates and managed funds of the net long position of 34,721,118 common shares previously held by Carl C. Icahn and his affiliates (collectively, Icahn Group). The company is not a party to any agreement or arrangement with Paulson Capital or its affiliates or the Icahn Group in connection with these transactions. Based on information provided to the company, Paulson Capital and certain affiliates and managed funds beneficially owns approximately 19.13 per cent of the company's outstanding common shares as of the date hereof. The company further announced that the director appointment and nomination agreement, dated as of Feb. 23, 2021, between the company and Icahn Group, terminated pursuant to its terms when the Icahn Group's net long position in the company's shares fell below the specified threshold. In connection with the termination, Brett M. Icahn and Steven D. Miller have resigned from the board of directors. "I believe there is significant value in Bausch Health and am confident in the company's efforts to maximize shareholder value. I am excited about the underlying business prospects in both Bausch Health and its subsidiary, Bausch + Lomb Corp.," John A. Paulson, chairperson of the Bausch Health board, said. "I also want to thank Brett and Steven for their dedication and valuable contributions to the company." About Bausch Health Companies Inc. Bausch Health Companies is a global, diversified pharmaceutical company enriching lives through the company's relentless drive to deliver better health care outcomes. The company develops, manufactures and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, dentistry, aesthetics, international pharmaceuticals and eye health, through the company's controlling interest in Bausch + Lomb Corp. The company's ambition is to be a globally integrated health care company, trusted and valued by patients, HCPs, employees and investors. We seek Safe Harbor.