Company: STAA
Filing Date: 2025-10-02
Form Type: DFAN14A
Source: 0001213900-25-095514
Chunk: 44

Company: STAAR SURGICAL CO
Filing Date: 2025-10-02
Form: DFAN14A
Chunk 44
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4.7x — At that multiple, STAAR’s implied equity value per share would be nearly $37, more than 30% higher than the Proposed Merger consideration $36.85 $28.00 Implied Value Based on Expected Margin Proposed Merger Consideration STAAR Equity Value per Share ALC ATEC ATRC AXGN DXCM ESTA GKOS PODD IRTC PEN PRCT TMDX VCEL TMCI STAA y = 4.9851x + 3.182 0.0x 1.0x 2.0x 3.0x 4.0x 5.0x 6.0x 7.0x 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% EV / CY 2027E Revenue Multiple CY 2027E Adjusted EBITDA Margin

Broadwood Partners, L.P. Per Share Value of Alcon Offers for STAAR The Price Is Well Below Alcon’s Prior Offers 61 6 Just a year ago, Alcon was prepared to pay substantially more for STAAR ▪ Alcon first emerged as a potential suitor for STAAR in April 2024, offering $58 per share in cash — At the time, the Board concluded that the Company’s standalone business plan represented the best path forward and determined not to engage further with Alcon ▪ Alcon reiterated its interest in October 2024, this time offering $55 per share in cash plus a contingent value right potentially worth $7 per share — Alcon and STAAR entered into negotiations and proceeded with due diligence discussions — Alcon subsequently withdrew its proposal in January 2025, shortly before the Company issued its Q4 2024 financial results disclosing inventory challenges, which sent the stock down 25% ▪ With the business recovering and being again poised for growth, Alcon should be willing and able to pay much more than $28 per share, in our view $55 $7 $58 $62 $28 April 2024 Offer October 2024 Offer Merger Consideration Cash Contingent Value Right (55%) Source: STAAR proxy statement on Form DEFM14A, filed with the SEC on September 16, 2025 at 36, 37 and 48.

Broadwood Partners, L.P. Adjusted E