Company: STAA
Filing Date: 2025-10-02
Form Type: DFAN14A
Source: 0001213900-25-095514
Chunk: 30

Company: STAAR SURGICAL CO
Filing Date: 2025-10-02
Form: DFAN14A
Chunk 30
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 Go-Shop / Window Shop Period Most of these were full “go - shops”

Broadwood Partners, L.P. Duration of Sale Process (Days) 1 The Process Was Rushed and Truncated 41 2 Negotiations with Alcon took place over just one month ▪ Once Alcon’s CEO contacted STAAR’s CEO in June 2025 indicating that Alcon was interested in re - engaging in discussions regarding a potential transaction, the process unfolded quickly ▪ The Board held a meeting shortly after the 4 th of July holiday, during which it directed management to continue discussions with Alcon ▪ Within a month, STAAR and Alcon had conducted due diligence and negotiated and executed the Merger Agreement — The sale process was less than half as long as the median of the precedent transactions used by the Company’s financial advisor in its fairness opinion ▪ The Company’s proxy statement suggests that the pace at which Alcon was prepared to move was an important consideration from the Board, 2 but we do not believe there was any reason to sell quickly; STAAR has nearly $200 million in cash, no debt and is expected to return to growth in 2026 ▪ We believe this truncated timeline and rushed process suited Alcon, who we understand was eager to reach an agreement before STAAR disclosed its promising Q2 2025 financial results 146 97 83 64 53 30 27 26 K2M Group Holdings Cantel Medical Cardiovascular Systems BioTelemetry Wright Medical Group STAAR Surgical Silk Road Medical LENSAR Stryker (2018) STERIS (2020) Abbott Labs (2022) Philips (2020) Stryker (2019) Alcon (2025) Boston Scientific (2024) Alcon (2025) 1. Source: Merger proxy statements on Schedule DEFM14A and tender offer solicitation/recommendation statements in Schedule 14D - 9. “ Duration of sale process” refers to the number of days between the date the target company’s financial advisor was formally e nga ged or directed by the board of directors to begin engaging with counterparties (including the acquirer) and the announcement of the transaction. 2. Source: STAAR proxy statement on Form DEFM14A, filed with the SEC on September 16, 2025 at 41 (“[T]he Board was of the view t hat there was unlikely to be a third party who would be able to… [proceed]