Company: STAA
Filing Date: 2025-10-02
Form Type: DFAN14A
Source: 0001213900-25-095514
Chunk: 32

Company: STAAR SURGICAL CO
Filing Date: 2025-10-02
Form: DFAN14A
Chunk 32
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 ate ment on Form DEFM14A, filed with the SEC on September 16, 2025 at 57, and the financial projections disclosed at 61 - 62. For the Initial (July) Management Projections, prospective financial information for 2028 - 2030 is based on the same revenue growth rate as the Revised Management Projections, the same UFCF margin implied by the Initial (July) Management Projections for 2027, and the implied value of net operating losses carry for wa rds based on Citi’s DCF valuation range. 2. Source: STAAR proxy statement on Form DEFM14A, filed with the SEC on September 16, 2025 at 57. ~$20.40 ~$31.60 ~$42.90 $17.70 $27.60 $37.50 Low End of Range Midpoint of Range High End of Range Based on Initial (July) Management Projections¹ Based on Revised Management Projections² $1,412 $2,542 $3,672 $1,238 $2,228 $3,218 Low End of Range Midpoint of Range High End of Range Based on Initial (July) Management Projections¹ Based on Revised Management Projections¹ Conveniently close to the Proposed Merger price Implied per Share Equity Value Reference Range Based on DCF Analysis The revised projections significantly reduce forward projections of STAAR’s unlevered free cash flow… …which result in a substantially lower DCF range for STAAR

Broadwood Partners, L.P. Weighted Average Cost of Capital of Citi’s Comparable Companies 4 Weighted Average Cost of Capital Citi Used an Unreasonable Discount Rate, Further Lowering Its View of Value 44 3 STAAR’s financial advisor used a discount rate that is excessive by any objective measure 1. As of August 4, 2025. 2. Based on data as of August 4, 2025, and derived from a risk - free rate of 4.2%, 1 - year beta of 0.846 and equity risk premium of 4 .7%. 3. Source: STAAR proxy statement on Form DEFM14A, filed with the SEC on September 16, 2025 at 57. 4. Source: FactSet. Data as of August 4, 2025. 5. Source: STAAR Press Release, August 6, 2025. 6. See next page