Company: STAA
Filing Date: 2025-12-11
Form Type: DFAN14A
Source: 0001213900-25-120777
Chunk: 18

Company: STAAR SURGICAL CO
Filing Date: 2025-12-11
Form: DFAN14A
Chunk 18
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.0% EV / 2027E Revenue Multiple CY 2027E Adjusted EBITDA Margin 6

Broadwood Partners, L.P. $55 $7 $58 $62 $30.75 April 2024 Offer October 2024 Offer Revised Merger Price Cash Contingent Value Right Per Share Value of Alcon Offers for STAAR The Revised Price Is Well Below Alcon’s Prior Offers 26 Last year, Alcon was prepared to pay substantially more for STAAR ▪ Alcon first emerged as a potential suitor for STAAR in April 2024, offering $58 per share in cash — At the time, the Board concluded that the Company’s standalone business plan represented the best path forward and determined not to engage further with Alcon ▪ Alcon reiterated its interest in October 2024, this time offering $55 per share in cash plus a contingent value right potentially worth $7 per share — Alcon and STAAR entered into negotiations and proceeded with due diligence discussions — Alcon subsequently withdrew its proposal in January 2025, shortly before the Company issued its Q4 2024 financial results disclosing temporary inventory challenges, which sent the stock down 25% ▪ With the business recovering and again poised for growth, Alcon should be willing and able to pay much more than $30.75 per share, in our view (50%) Source: STAAR proxy statement on Form DEFM14A, filed with the SEC on September 16, 2025 at 36, 37 and 48; STAAR Form 8 - K, filed with the SEC on December 8, 2025. 7

Broadwood Partners, L.P. The Revised Price Is Well Below Alcon’s Prior Offers (Continued) 27 Alcon reduced its offer by 50%, even though STAAR’s growth and margin profile had improved 1. Source: FactSet. Data as of October 29, 2024, the day Alcon’s CEO sent STAAR’s CEO a letter proposing to acquire STAAR for $5 5 p er share in cash plus a contingent value right worth up to $7 per share. 2. Source: STAAR proxy statement on Form DEFM14A, filed with the SEC on September 16, 2025 at 61. 15% 16% 20% 16% Current FY to FY+2 CAGR Current FY to FY+3 CAGR October 2024 (Consensus Estimate