Company: STAA
Filing Date: 2025-12-11
Form Type: DFAN14A
Source: 0001213900-25-120777
Chunk: 10

Company: STAAR SURGICAL CO
Filing Date: 2025-12-11
Form: DFAN14A
Chunk 10
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 does not change the historical fact that the CEO’s incentive s w ere misaligned with shareholders at the time the Company agreed to the deal

Broadwood Partners, L.P. Transactions Announced Since 2000 with Go - Shop or Window Shop Provision 1 The Window Shop and Go - Shop Periods Are No Substitutes for a Fulsome Process 14 Go - shop and window shop provisions almost never lead to an alternative bid ▪ In the Company’s proxy statement, the Board touted the Merger Agreement’s “window shop” provision as a reason for supporting the transaction 2 ▪ Now, the Board is claiming that its belated go - shop process “validated” 3 the effectiveness of its prior process and “produced the best buyer for STAAR” 3 ▪ However, window shop and go - shop periods rarely result in superior alternative bids — Of more than 350 transactions with go - shop or window shop provisions over the last 25 years, just 12 have resulted in a competing bidder making an offer for the target after the merger agreement was executed 1 — Most of these 12 were full “go - shop” provisions in which the company was enabled to reach out proactively to third parties ▪ In our view, any sophisticated director would surely recognize that the belated and appended go - shop process was unlikely to attract qualified bidders and proposals 1. Source: Deal Point Data. Data includes all transactions announced between January 1, 2000 and September 15, 2025 that include d e ither a “go - shop” provision or a “hybrid go - shop” (i.e., “window shop”) provision. 2. Source: STAAR proxy statement on Form DEFM14A, filed with the SEC on September 16, 2025 at 49. 3. Source: STAAR press release, December 8, 2025. 12 368 Competing Bid During Go-Shop / Window Shop Period No Competing Bid During Go-Shop / Window Shop Period

Broadwood Partners, L.P. The Board Has Repeatedly Withheld Information from and Misled Shareholders 15 How can shareholders have confidence in the Board’s claim that Alcon is the best buyer given its pattern of obfuscation? Reality STAAR’s Misleading Claim or Omission Topic Other Potential Buyers Expressed Interest. Two potential counterparties that proactively contacted STAAR before the Merger Agreement was signed were given short shrift as the Board