Company: STAA
Filing Date: 2025-09-26
Form Type: DEFA14A
Source: 0001193125-25-219844
Chunk: 14

Company: STAAR SURGICAL CO
Filing Date: 2025-09-26
Form: DEFA14A
Chunk 14
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 is that market dynamics result in a significantly lower growth profile – which negatively impacts valuation CAGR $ in millions Management projections are subject to risks and headwinds, including overweight exposure to China, increasing competition, a limited product offering, historical inability to penetrate the market beyond high myopia patients, and tariff risk 10% 25% (10%) Historical results reflect high growth in FY20-FY23, followed by declines in FY23-FY25. Financial projections reflect management’s efforts to transition from the declines of FY23-FY25 with a reset to lower go-forward growth profile in FY26-FY30. Note: Management projections denoted in the definitive proxy. 2025E projections reflect a burn down of distributor inventory. Management financial projections for 2026 are $340M in Net Sales, which represents 2% CAGR from 2023. EXECUTIVE SUMMARY | PREMIUM VALUE | STANDALONE RISKS | THOUGHTFUL EVALUATION | BROADWOOD CLAIMS

STAAR’s long-term growth rate has declined significantly and no longer supports Alcon's October 2024 valuation, which is one reason why Alcon withdrew its offer Source: Company filings, FactSet, and Wall Street research. Note: Market data as of August 4, 2025. (1) Represents sales over the last twelve months (LTM). After conducting due diligence, Alcon withdrew its October 29, 2024 offer of $55 + $7 CVR due to its concerns about STAAR’s slowing in-market sales and overall China uncertainty EXECUTIVE SUMMARY | PREMIUM VALUE | STANDALONE RISKS | THOUGHTFUL EVALUATION | BROADWOOD CLAIMS 2Q25 Performance Did Not Reverse The Negative FY23-FY25 Trend Q2 2025 Q2 2024 $ in millions Comparison of 2 Year Net Sales CAGR Preceding Alcon’s October 2024 & July 2025 Offers (27%) 2Q YoY Financial Performance Net Sales Net Income (Loss) (55%) (327%) October 2024 Offer July 2025 Offer LTM(1) 2Q22 – LTM(1) 2Q24 Net Sales CAGR LTM(1) 2Q23 – LTM(1) 2Q25 Net Sales CAGR Growth Profile Declined Since Alcon's First Offer STAAR's 2Q25 results did not signal a return to profitable