Company: STAA
Filing Date: 2025-08-29
Form Type: PREM14A
Source: 0001193125-25-192889
Chunk: 93

Company: STAAR SURGICAL CO
Filing Date: 2025-08-29
Form: PREM14A
Chunk 93
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% to 14.6%, to derive ranges of implied enterprise value for STAAR. To the range of implied enterprise values it derived for STAAR, Citi added STAAR’s net cash of $185 million as of June 27, 2025, and added a range
of present values of STAAR’s tax benefits from Federal net operating losses carry forwards, and divided the results by the diluted common stock share count of STAAR calculated using the treasury stock method, based on equity information as of
July 30, 2025 as provided by STAAR management. The range of present values of STAAR’s tax benefits from Federal net operating losses carry forwards was calculated by discounting to present values, as of June 27, 2025, estimates of
STAAR’s tax benefits from Federal net operating losses carry forwards, as provided in the Projections, using mid-year discounting convention and discount rates ranging from 13.4% to 14.6%. This analysis
indicated an approximate implied per share equity value reference range for STAAR of $17.70 to $37.50, as compared to the closing share price of the STAAR common stock as of August 1, 2025, of $17.76, and the Merger Consideration of $28.00.

Certain Additional Informational

Citi observed certain other information with respect to STAAR that was not considered part of its financial analyses with respect to its
opinion, but was noted for reference purposes only, including the following:

52-WeekTrading Range

Citi reviewed the historical closing share prices of STAAR common stock for the 52-week period ended
August 1, 2025. Citi noted that the low and high closing prices of the STAAR common stock during this period were approximately $15.09 and $40.36 per share, as compared to the closing share price of the STAAR common stock as of August 1,
2025, of $17.76, and the Merger Consideration of $28.00.

Discounted Equity Research Analyst Price Targets

Citi reviewed the most recent publicly available research analysts’ one-year forward price
targets for STAAR common stock prepared and published by selected research analysts. Citi noted that as of August 1, 2025, such price targets ranged from $13.00 to $27.00 for STAAR common stock. Citi also noted that these ranges of price
targets, discounted one year at an estimated