Company: STAA
Filing Date: 2025-12-11
Form Type: DFAN14A
Source: 0001213900-25-120777
Chunk: 16

Company: STAAR SURGICAL CO
Filing Date: 2025-12-11
Form: DFAN14A
Chunk 16
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 $40.75 $55.63 $72.92 $77.96 $30.75 $0.00 $20.00 $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 $160.00 Aug 2020 Aug 2021 Aug 2022 Aug 2023 Aug 2024 Aug 2025 Mean Analyst Price Targets (Without Control Premium) for STAAR Surgical 5

Broadwood Partners, L.P. CY 2025E – 2027E Revenue CAGR vs. EV / CY 2027E Revenue Multiple 1 STAAR’s Expected Growth Should Have Led to a Higher Multiple 24 STAAR’s expected growth supports a significantly higher trading multiple, and therefore a much higher premium 1. Source: FactSet. Data as of December 8, 2025. 2. STAAR 2025E and 2027E Revenue based on management projections as disclosed in STAAR proxy statement on Form DEFM14A, filed wi th the SEC on September 16, 2025 at 61. STAAR enterprise value based on implied equity value at $30.75 per share and STAAR’s cas h a nd fully diluted shares outstanding and cash as of the period ended September 26, 2025. ▪ The Revised Merger values STAAR at just 3.9x management’s projected 2027 revenue ▪ However, based on management’s revised projections, STAAR is expected to grow revenue at a rate of approximately 20% from 2025 to 2027 – one of the highest among comparable MedTech companies ▪ This projected growth rate supports an EV / 2027E revenue multiple of approximately 5.3x, more than a full turn higher — At that multiple, STAAR’s implied equity value per share would be nearly $40, approximately 30% higher than the Revised Merger consideration $39.92 $30.75 Implied Value Based on Expected Growth Revised Merger Consideration STAAR Equity Value per Share ALC ATEC ATRC AXGN DXCM ESTA GKOS PODD IRTC PEN PRCT TMDX VCEL TMCI STAA y = 17.101x + 1.8201 0.0x 1.0x 2.0x 3.0x 4.0x 5.0x 6.0x 7.0x