Broadwood Partners Issues Letter to STAAR Surgical’s Board Questioning Its Diligence in Rush to Reaffirm Support for Alcon Sale

Broadwood Partners, L.P. and its affiliates (collectively, “Broadwood”) today issued the following letter to the Board of Directors (the “Board”) of STAAR Surgical Company (“STAAR” or the “Company”) (NASDAQ: STAA). Broadwood, which owns 27.5% of STAAR’s outstanding common shares, continues to urge its fellow shareholders to vote on its GREEN Proxy Card “AGAINST” the proposed acquisition of STAAR by Alcon Inc. (“Alcon”) (NYSE: ALC) on the terms announced August 5, 2025.

Shareholders can find additional information at www.LetSTAARShine.com.

October 10, 2025

STAAR Surgical Company
25510 Commercentre Dr.
Lake Forest, CA 92630

Dear Members of the Board:

Your carelessness continues to shock us.

On Tuesday night, October 7, 2025, independent proxy advisory firm Glass, Lewis & Co. issued its recommendation that shareholders vote against the proposed sale of STAAR to Alcon. In its report, Glass Lewis disclosed that it had confirmed a stunning fact during its research process: the Chair and the CEO of STAAR did not disclose to their fellow directors highly material information about inbound strategic interest from at least one potentially bona fide buyer of the Company.

This revelation, taken together with concerns we raised about the integrity of the fairness opinion upon which the Board relied, as well as several quantitative concerns that Glass Lewis raised about valuation, suggests that the Board’s decision to sell the Company at this price and to this buyer was built on incomplete information and a shaky analytical foundation.

Instead of carefully considering these troubling new facts, the Board appears instead to have ignored them and quickly doubled down on its commitment to the proposed transaction. We have been particularly puzzled as to how it was possible for the Board to issue a press release that reiterated its “unanimous” support for its decision to sell the Company within hours of the explosive revelations in the Glass Lewis report regarding the lack of candor by the Company’s CEO and Chair.

We find the Board’s apparent haste to look past the new developments very troubling. And we have questions:

• When precisely, during those few hours after the issuance of the Glass Lewis report and before the Company’s press release, did the directors meet to consider the troubling new facts?
  
  
• Did the directors ask the Company’s financial advisor whether the transaction was still fair from a financial point of view, given the challenges that have been lodged by three large shareholders and a leading proxy advisor regarding the assumptions, peer sets, and financial projections that formed the basis for the original fairness opinion?