Bausch + Lomb Corporation · NYSE:BLCO
Bausch + Lomb — J.P. Morgan 44th Annual Healthcare Conference 2026
18 slides from Bausch + Lomb's conference presentation, Jan 12, 2026
Slide 1: J.P. Morgan 44th Annual Healthcare Conference
J.P. Morgan 44th Annual Healthcare Conference January 12, 2026 1
Slide 2: Forward-Looking Statements; Non-GAAP Information
Forward-Looking Statements; Non-GAAP Information Forward-Looking Statements successfully manage the expected impact of such tariffs and counter-tariffs and other measures, including the success of our planned actions and levers to manage these This presentation contains forward-looking information a
Slide 3: (Re) Built to Win
(Re) Built to Win Deep Pool of “A” Players. Innovation Mindset. Leading With Technology. 3
Slide 4: Accelerating R&D Innovation Engine
Accelerating R&D Innovation Engine 1 59 New Patent Applications2 Filed in 2025 42 New Patent Applications2 Filed in 2013 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Number of New Patent Applications Filed 4 1. See Slide 2 for further information on forward-looking statements. 2.
Slide 5: Drive Value with Execution; Significant Pipeline Upside
2025 - 2028 2028+ Drive Value with Significant Execution Pipeline Upside 1 1,4 5-7% ~23% Pipeline to Drive 2025-2028 2028 Adj. EBITDA Transformative Value with CC Revenue Margin (ex. Acq. Potential Peak Sales CAGR2 IPR&D)2 ~$7B 3 Above-Market ~600bps Margin Revenue Growth Expansion 2025-2028 1. 2. S
Slide 6: Strong, Sustainable Growth Into Next Decade
Strong, Sustainable Growth Into Next Decade 1 ELIOS FIRST GLAUCOMA EXCIMER THERAPY TO LASER MIGS IMPROVE VISION BLINK TRIPLE FIRST-OF-ITS-KIND 2ND DD SiHy CARE PF BIOACTIVE FIRST CONTACT CONTACT LENS NEUROSENSORY LENS LUMIFY AGENT FOR OSP GAME AREDS3 LUXE MYOPIA CHANGERS VITAMINS DUAL-ACTION CONTROL
Slide 7: Clear Runway for Growth in Consumer Brands
Clear Runway for Growth in Consumer Brands 1 ADVANCED PRESERVATIVE-FREE LIPID BASED FORMULATION Launch Date: Franchise Peak Sales: 1H26 ~$300M EXPAND MARKET BY ADDRESSING ALL STAGES OF AMD Launch Date: Franchise Peak Sales: 1H26 ~$600M #1 Global OTC Eye Health Company 2 ENHANCED COMFORT WITH ADDITIO
Slide 8: Continuing to Outperform Contact Lens Market
Continuing to Outperform Contact Lens Market 1 FIRST-OF-ITS-KIND BIOACTIVE CONTACT LENS Launch Date: Peak Sales: 2028 ~$500M 2ND DD SIHY CONTACT LENS Launch Date: Peak Sales: 2029 ~$250M Multi-Year Growth Runway PREMIUM FRP SIHY CONTACT LENS SVS MF Toric MF Toric Launch Date: Peak Sales: launched la
Slide 9: Building on the Strength of Pharma Platform
Building on the Strength of Pharma Platform 1 +113% DUAL-ACTION DED EYE DROP 31,182 25,269 26,991 Launch Date: Peak Sales: ~2029 ~$0.7B Avg. Weekly TRx & Growth (% Y/Y)2 20,001 14,618 11,992 12,833 10,108 FIRST GLAUCOMA THERAPY TO IMPROVE VISION 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Launch Date: P
Slide 10: Expanding in Premium Surgical Categories
Expanding in Premium Surgical Categories 1 ELIOS EXCIMER LASER MIGS Trifocal Trifocal Launch Date: Peak Sales: 2H26 in U.S. ~$175M SEELYRA NEXT-GEN FEMTO LASER Monofocal+ EDOF Launch Date: Peak Sales: 2H26 ~$50M ENVISTA BEYOND EDOF IOL Launch Date: Peak Sales: Monofocal Monofocal 2027 ~$300M enVista
Slide 11: Advancing Robust Pipeline in 2026
Advancing Robust Pipeline in 2026 1 Bioactive BL1107 Premium FRP Dual-Action Lens Blink Triple AREDS3 (Glaucoma) SiHy Lens DED Eye Drop siRNA Care PF Vitamins External Clinical Phase 2b External Clinical Phase 2b Elevation of First Study – Topline Targeted Targeted Program in GA Clinical Study – Stu
Slide 12: Strategy to Deliver Financial Excellence Across All Key Metrics
Strategy to Deliver Financial Excellence Across All Key Metrics 1,4 Above-Market Meaningful Robust Solid Strong Revenue Margin EPS Cash Flow Balance Growth Expansion Growth Generation Sheet 5 – 7% ~23% Double ~50% ~3.5x 2025-2028 CC REVENUE ADJ. EBITDA MARGIN (EX. ACQ. IPR&D)3 Digit ADJ. CASH FLOW F
Slide 13: Key Takeaways
3 Key Takeaways 1 2 3 Executing Above-market Elevating Strategy to Drive Revenue Growth Standard of Care Step-Change & Meaningful With Disruptive Performance Margin Expansion Innovation 13
Slide 14: Appendix
Appendix BAUSCH +LOMB
Slide 15: Key Modeling Assumptions (2025-2028)
Key Modeling Assumptions (2025-2028)1 Bausch + Lomb Revenue • 5-7% FY25-28 CC CAGR2 Consumer Revenue • 5-7% FY25-28 CC CAGR2 Contact Lens Revenue • 5-7% FY25-28 CC CAGR2 Pharmaceuticals Revenue • 5-7% FY25-28 CC CAGR2 Surgical Revenue • 6-8% FY25-28 CC CAGR2 Adj. R&D (% of Revenue)2 • Modest Increas
Slide 16: Reconciliation of Reported Revenue to Constant Currency Revenue
Reconciliation of Reported Revenue to Constant Currency Revenue1 and Constant Currency Revenue Growth1 ($M) 16 1. This is a non-GAAP measure or non-GAAP ratio. See Slide 1 and this Appendix for further information on non-GAAP measures and ratios. 16 2. The impact for changes in foreign currency exch
Slide 17: Non-GAAP Appendix
Non-GAAP Appendix EBITDA/Adjusted EBITDA/Adjusted EBITDA Margin/Adjusted EBITDA excluding Acquired IPR&D/Adjusted EBITDA Margin excluding consideration non-cash adjustments due to the inherent uncertainty and volatility associated with such amounts based on changes in assumptions with Acquired IPR&D
Slide 18: Non-GAAP Appendix
Non-GAAP Appendix Constant Currency Adjusted Tax Rate Constant currency change or constant currency growth is calculated by adjusting or further adjusting a measure or ratio by changes in or impact of foreign Adjusted Tax Rate (the most directly comparable financial measure for which is our GAAP tax
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