PAULSON & CO. INC. - 25 Nov 2025 Form 4 Insider Report for Bausch Health Companies Inc. (BHC)

Role: 10%+ Owner
Signature: PAULSON & CO. INC.By: /s/ Stuart L. Merzer, Stuart L. Merzer, General Counsel & Chief Compliance Officer
Issuer symbol: BHC
Transactions as of: 25 Nov 2025
Net transactions value: +$15,625,000
Form type: 4
Filing time: 28 Nov 2025, 17:38:39 UTC
Previous filing: 05 Sep 2025
Next filing: 27 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
PAULSON & CO. INC.	10%+ Owner	15 EXCHANGE PLACE, JERSEY CITY	PAULSON & CO. INC.By: /s/ Stuart L. Merzer, Stuart L. Merzer, General Counsel & Chief Compliance Officer	28 Nov 2025	0001035674

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BHC	Common Stock, no par value	Purchase	$15,625,000	+2,500,000	+3.5%	$6.25	73,255,869	25 Nov 2025	By Managed Funds	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Paulson & Co. ("Paulson") is the investment manager of certain investment funds (the "Funds"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds. Each of Paulson and John Paulson may be deemed an indirect beneficial owner of the securities, which are directly owned by the Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the reporting person disclaims beneficial ownership of any securities reported herein, except to the extent that the reporting person has a pecuniary interest therein. This report shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any securities not directly owned by such reporting person.

Content

Paulson & Co. ("Paulson") is the investment manager of certain investment funds (the "Funds"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds. Each of Paulson and John Paulson may be deemed an indirect beneficial owner of the securities, which are directly owned by the Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the reporting person disclaims beneficial ownership of any securities reported herein, except to the extent that the reporting person has a pecuniary interest therein. This report shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any securities not directly owned by such reporting person.