Company: STAA
Filing Date: 2025-10-02
Form Type: DFAN14A
Source: 0001213900-25-095514
Chunk: 34

Company: STAAR SURGICAL CO
Filing Date: 2025-10-02
Form: DFAN14A
Chunk 34
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 Reference Range Based on STAAR's WACC (~8.1%)² +/- 100 bps Using Revised Management Projections³ Reference Range Based on STAAR's WACC (~8.1%)² +/- 100 bps Using Initial (July) Management Projections³ Implied per Share Equity Value Reference Range Based on DCF Analysis Midpoint of Range Proposed Merger Price: $28.00

Broadwood Partners, L.P. …As Is the Range of Analyst Price Targets 46 3 Citi applied the same excessive discount rate to analyst price targets to produce another valuation range; the range of analy st price targets based on an appropriate control premium would have been much higher 1. Source: STAAR proxy statement on Form DEFM14A, filed with the SEC on September 16, 2025 at 57. 2. Refers to the range of analyst price targets used by Citi with the 14% discount removed. 3. Refers to the unaffected analyst price targets with a 64% control premium, consistent with the median premium to the unaffect ed price of targets with - 40% TSR during the one year leading up to the unaffected date for all - cash acquisitions of U.S. public companies announced from Janu ary 1, 2015 to September 15, 2025. See page 58 for further information. $11.75 $13.66 $22.39 $24.40 $28.37 $46.49 $18.08 $21.02 $34.44 $0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 Range of Analyst Price Targets Using Citi's Discount Rate¹ Range of Unaffected Analyst Price Targets² Range of Analyst Price Targets with Typical Control Premium³ Implied per Share Equity Value Reference Range Based on Analyst Price Targets Midpoint of Range Proposed Merger Price: $28.00 Does not reflect substantial Q2 2025 improvement

Broadwood Partners, L.P. 20% 17% 13% STAAR¹ Broadwood's Comparable MedTech Companies² Citi's Comparable Public Companies³ 30% 20% 11% STAAR¹ Broadwood's Comparable MedTech Companies² Citi's Comparable Public Companies³ (~700 bps) (~2,000 bps) CY 2025E – CY 2027E Revenue CAGR 2027E Adjusted EBITDA Margin Citi’s