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By Pavankumar, 9:46am ET-IPO Would Unlock Value in a Medical Aesthetics LeaderTransaction Will Enable Bausch Health to Continue to Execute on its Previously Announced Spinoff of its Bausch + Lomb Eye Health BusinessLAVAL, Quebec, Aug. 3, 2021 – Bausch Health Companies Inc. (NYSE/TSX: BHC) (“Bausch Health” or the “Company”) today announced that it plans to pursue an initial public offering (IPO) of its Solta Medical business (“Solta”). Solta is a leading global provider in medical aesthetics with innovative and effective skin rejuvenation and body contouring solutions, including the Thermage® RF systems, Fraxel® laser, Clear + Brilliant® laser and VASER® ultrasonic systems.Pursuing an IPO of the Solta business is intended to achieve two important objectives for Bausch Health:•Enable the Company to pay down debt, which is an important step in the previously announced spinoff of the Bausch + Lomb eye health business from Bausch Pharma1, and•Unlock the value of this high-growth business and give Bausch Pharma ownership of a valuable financial asset that would compare more favorably to other medical aesthetic companies.The timing of the anticipated IPO, which will be tied to certain conditions and approvals and the Company’s completion of several important actions, is anticipated to occur in the fourth quarter of 2021 or first half of 2022, subject to market conditions.Solta, which is currently reported as part of the Ortho Dermatologics segment, had 2020 revenues of $253 million and a revenue CAGR2 of 32% (2017-2020).Scott A. Hirsch Appointed CEO of Solta MedicalScott A. Hirsch has been appointed chief executive officer of Solta3 by the Board of Bausch Health. Mr. Hirsch joined Bausch Health in 2016 and currently serves as president, Ortho Dermatologics and OraPharma and as Chief Strategy Officer. He joined Bausch Health from Citadel Investment Group, where he oversaw equity investments and risk management decisions within the Health Care sector at Surveyor Capital.Mr. Paul S. Herendeen will serve as chairman of Solta effective upon the IPO. Mr. Herendeen joined Bausch Health as executive vice president and Chief Financial Officer in 2016 and served in that capacity until June 2021 when he was appointed Advisor to the Chairman and Chief Executive Officer.As the process commences, the Company will provide additional information on the remainder of the future management team and Board of Directors.As a publicly traded company, Solta will be domiciled in Canada and is intended to be listed and trade on the Nasdaq stock exchange.Bausch Health will need to take several steps to facilitate the IPO. There are several important internal and external considerations, approvals and conditions that will drive the ultimate timing and structure of any transaction, including, but not limited to, consideration of one-time costs; capital market conditions; determination of the pro forma capitalization of Solta; finalization of employment terms with certain key personnel; and compliance with U.S. securities laws and stock exchange rules. Many of these considerations, approvals and conditions will be influenced by and/or be dependent on the specific structure that is ultimately selected.Davis, Polk & Wardwell in the United States and Osler, Hoskin & Harcourt in Canada are acting as lead legal counsels.This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.