Company: STAA
Filing Date: 2025-09-26
Form Type: DEFA14A
Source: 0001193125-25-219844
Chunk: 29

Company: STAAR SURGICAL CO
Filing Date: 2025-09-26
Form: DEFA14A
Chunk 29
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 far in 3Q25 O P 2Q25 2Q24 ($ in millions) Net Sales Net Income (Loss) (55%) (327%) 2Q YoY Financial Performance EXECUTIVE SUMMARY | PREMIUM VALUE | STANDALONE RISKS | THOUGHTFUL EVALUATION | BROADWOOD CLAIMS B

There is no pending study that would be "market moving news" or a "significant value creation event” “STAAR may be on the cusp of market-moving news and a significant value-creation event. An independent, randomized clinical trial comparing the outcomes of Alcon’s LASIK platform and STAAR’s EVO Implantable Collamer® Lens recently has been completed, and we expect the results to be published soon.” The Reality… The study is not new or groundbreaking, but intended to confirm and validate surgeon data and experience The study is an investigator-initiated trial (IIT) sponsored by STAAR It is not a large-scale clinical trial, but evaluates only 27 LASIK patients and 27 EVO ICL patients It is not a long-term study, but an assessment of postoperative experience at 4-6 hours, 1 day, 1 week and 1 month following surgery It is not focused on visual acuity, but rather the patient experience in the hours and days following surgery The results of this study are not a material event and do not meaningfully change STAAR’s long-term growth profile P Broadwood Claims O IIT Results Demonstrate that Both EVO + ICL and LASIK are Good Options for Patients EXECUTIVE SUMMARY | PREMIUM VALUE | STANDALONE RISKS | THOUGHTFUL EVALUATION | BROADWOOD CLAIMS B 09/23/2025

“… $28 per share values the Company at just 4.0x consensus 2026E revenue, a discount of approximately 15% to comparable medical technology companies. Using management’s forecasted 2026 net sales… at approximately 3.8x 2026P revenue, a discount of more than 20%...” Broadwood Claims The Reality… In comparing STAAR to the peer set, Broadwood ignored Net Sales growth, which is a key metric Alcon merger provides compelling premium across multiple measures, despite STAAR’s lower growth profile Broadwood’s peer median for 2024-2027E Net Sales CAGR is 19%; at 6% Net Sales CAGR, STAAR ranks