Company: STAA
Filing Date: 2025-10-07
Form Type: PX14A6G
Source: 0001193125-25-232531
Chunk: 7

Company: STAAR SURGICAL CO
Filing Date: 2025-10-07
Form: PX14A6G
Chunk 7
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 long standing distribution channels and
international markets that are insulated from short-term swings.

We believe shareholders need to recognize this value under any transaction. While we are not necessarily
opposed to supporting an acquisition of STAAR by a third party, including Alcon, we believe the current terms of the proposed merger with Alcon fail to recognize the value of STAAR’s business, in China and globally. We find it important to
point out that Mr. Farrell is backing a sale that hands him tens of millions of dollars in personal payout, while working to push shareholders to accept a deal that undervalues the Company.

We also find STAAR’s press release of October 6 objectionable insofar as STAAR has cherry picked a small number of tepid statements from selected
analyst reports that, at best, indicate only moderate support the proposed merger. A number of the quotations provided by STAAR in its press release point to recent challenges the Company faced in the Chinese market, but shareholders know about
these challenges and the Company has been up front about them. Those challenges do not by themselves justify a sale at the current price. Even the analyst quotes selected by STAAR point to its greater intrinsic value than the proposed merger terms
recognize, with one analyst quote acknowledging that “STAA expects to have inventory levels align by 3Q25 with in-market procedure volume, as global macroeconomic conditions improve,” and another
acknowledging, “we do admit the timing of the deal is not ideal for STAA.”

As Broadwood Partners highlighted in its press release on
October 6, Alcon’s offer is highly opportunistic, especially considering its previous bid of $58. STAAR now notes that Alcon withdrew its previous offer after conducting diligence, but ignores the immense chasm between the previous offer
of $58 and the current offer of $28. While markets fluctuate, accepting the current offer, when there are clear signs STAAR is overcoming its temporary challenges, would mean selling the Company at its lowest point and depriving shareholders of the
value we believe the Company can deliver as it re-accelerates growth.

Instead, we urge the Company to start a
proper strategic alternatives process at the appropriate time and from a position of strength, as we believe the cost-cutting and restructuring measures outlined above can lead to a value-maximizing proposal well above the current $28 per share
offer.

We urge our fellow shareholders to vote against the proposed transaction.

Sincerely,

Christopher Min Fang Wang

Chief Investment Officer