Company: STAA
Filing Date: 2025-10-02
Form Type: DFAN14A
Source: 0001213900-25-095514
Chunk: 27

Company: STAAR SURGICAL CO
Filing Date: 2025-10-02
Form: DFAN14A
Chunk 27
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 We Believe the Process Was Rife with Material Conflicts ▪ Alcon provided for accelerated vesting of equity awards, and executives will receive tax gross - ups, incentivizing management to support a sale of the Company ▪ As a result, STAAR’s CEO stands to receive approximately $24 million at the closing of the Merger, even though he had been se rvi ng in his role for just five months at the time the Merger Agreement was executed We Believe the Executives Were Incentivized to Support a Sale 1 2 3 4 5

Broadwood Partners, L.P. Number of Alternative Parties Proactively Contacted During Sale Process 1 The Board Did Not Conduct Any Proactive Outreach 38 1 The Board granted Alcon the privileged position of being the only party with access to diligence materials and management ▪ STAAR’s Board did not run a market check or direct the Company’s financial advisor to solicit interest from any potential acquirers — This approach is unusual: all but one of the targets cited in the list of precedent transactions used in Citi’s fairness opinion solicited interest from parties other than the acquirer 1 ▪ The Board was effectively passive; it responded to Alcon’s unsolicited inbound interest and negotiated at Alcon’s prompting, but determined not to make any outbound inquiries — This was not due to lack of outside interest; the Company’s proxy statement reveals that two parties – Party A and Party B – independently contacted a Board member and expressed interest in a transaction before the Merger Agreement was executed ▪ In our view, had the Board run a fulsome process that sought to maximize the universe of potential buyers, there would have been substantial interest in STAAR, and competitive tension could have yielded a much higher price — In fact, several credible parties have contacted us to express their interest in acquiring STAAR, both before and after our opposition to the Proposed Merger became public 1. Source: Merger proxy statements on Schedule DEFM14A and tender offer solicitation/recommendation statements on Schedule 14D - 9. “ Number of parties proactively contacted during sale process” refers to 1) the number of parties the board directed the compan y’s financial advisor to contact to explore a transaction or, if such figure is not disclosed, 2) the number of parties invited to engage in concrete due diligence discussions with the compa ny. 2. STAAR received inbound inquiries from two parties – Party A and Party B – but did not