Company: STAA
Filing Date: 2025-12-11
Form Type: DFAN14A
Source: 0001213900-25-120777
Chunk: 6

Company: STAAR SURGICAL CO
Filing Date: 2025-12-11
Form: DFAN14A
Chunk 6
---
M14A, filed with the SEC on September 16, 2025 at 61. 1. 2010 - 2021 Adjusted EBITDA estimated based on EBITDA as calculated by FactSet plus stock - based compensation. Management expects revenue growth and profitability not just to recover, but to exceed historical levels

Broadwood Partners, L.P. We Agree with Management that STAAR Has a Bright Future 9 Source: STAAR June 2025 Investor Presentation. As recently as a few months ago, management expressed the same level of enthusiasm we have for STAAR’s business Management recently confirmed that STAAR’s short - term tactical challenges have been addressed… …touted the Company’s large and growing market opportunity… We are rapidly turning the corner, and our long - term prospects are excellent .” — Stephen Farrell , CEO; May 7, 2025 …and emphasized the strength of its financial model and imminent recovery

CONFIDENTIAL © All rights reserved. Two Seas Capital LP SUPPLEMENTAL INVESTOR PRESENTATION STILL THE WRONG PROCESS 02

Broadwood Partners, L.P. The Board’s Original Sale and Belated Go - Shop Process Are Irredeemably Flawed 11 ▪ The Board did not engage meaningfully with any potential acquirer other than Alcon and did not instruct its financial advisor to reach out to other parties prior to the belated “go - shop” process ▪ Two other parties contacted one of STAAR’s directors during the sale process, but the Board did not provide diligence materia ls or engage with them and did not even invite those parties to submit proposals until hours before the original Merger Agreement was signed ▪ Another party, a well - capitalized and leading ophthalmology company, reached out to STAAR’s CEO and Board Chair in April 2025 seeking to discuss a strategic transaction but was entirely ignored The Board Did Not Conduct Any Proactive Outreach and Ignored Other Interested Parties ▪ The entire pre - signing sale process took place over just one month because, we believe, Alcon insisted on executing an agreement before stockholders learned of STAAR’s promising Q2 2025 results ▪ The belated, “go - shop” process was launched three months after the original Merger Agreement, and after STAAR postponed a specia l meeting of shareholders to vote on the transaction three times in the face of overwhelming opposition from shareholders and proxy adviso ry firms The Process Was Rushed and Truncated, and then Belated ▪ STA