Slide 1: Delivering the Power of Sight
Delivering the Power of Sight Investor Presentation August 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act o
Slide 3: Our Mission
Our Mission Transform treatment of Eye Diseases by treating underlying causes Earlier intervention to help restore the natural functionality of healthy eyes Eyecare Innovation in Glaucoma and Dry Eye
Slide 4: Large + Underserved Markets
1 Represents Company analysis of third-party estimates. 2 Source: Market Scope 2022 reports. Large + Underserved Markets $6 billion addressable market1 3.4 million US patients diagnosed with Primary Open-Angle Glaucoma2 Leading cause of irreversible blindness $2.5 billion core addressable market1 >1
Slide 5: Our Technologies: Efficacy + Intuitive Use
1 Based on units of OMNI (and predicates) and SION units shipped as of June 30, 2023. 2 Based on Dry Eye Treatment Lids shipped as of June 30, 2023. Our Technologies: Efficacy + Intuitive Use Surgical Glaucoma Comprehensive treatment of diseased conventional outflow pathway Leading Clinical Trial Re
Slide 6: Strategic Value Creation Initiatives
Increase OMNI Utilization Maintain and optimize market access Train new OMNI surgeons Gain share in combination cataract segment Continue penetrating standalone MIGS segment Expand international markets TearCare Access + Acceleration Drive market access Complete phase 2 of SAHARA RCT Expand adoption
Slide 7: Primary Open-Angle Glaucoma and the outflow pathway
POAG is similar to a clog in a kitchen sink: when the eye’s natural drainage system (known as the trabeculocanalicular outflow pathway) is blocked and aqueous fluid cannot drain, intraocular pressure (IOP) rises which can cause optic nerve damage and irreversible blindness The Trabeculocanalicular O
Slide 8: OMNI: Minimally Invasive + Efficacious Treatment
OMNI: Minimally Invasive + Efficacious Treatment Two sequential, ab interno MIGS procedures to help restore natural drainage in the eye Up to 360° treatment of all three sources of resistance in trabeculocanalicular outflow pathway OMNI comprehensively treats the trabeculocanalicular outflow pathway
Slide 9: OMNI Clinical Highlights
References: GEMINI (Clin Ophthalmol. 2022;16:1225–1234); ROMEO (J Cataract Refract Surg. 2021;47(7):907–915; Ophthalmol Glaucoma. 2021;4(2):173–81); TREY (Int Ophthalmol (2022)); ROMEO 2 Year (Clin Ophthalmol. 2023:17 1057–1066). OMNI® Clinical Highlights Consistent Efficacy Across Clinical Trials i
Slide 10: OMNI Addresses All Six MIGS POAG Categories
Combination Cataract MIGS <15%1 of POAG Eyes $1B Opportunity1 1 Represents Company analysis of third-party estimates. Mild Disease (40%)1 Moderate Disease (40%)1 Advanced Disease (20%)1 Standalone MIGS >85%1 of POAG Eyes $5B Opportunity1 ~$0.4B Opportunity1 ~$2B Opportunity1 ~$2B Opportunity1 ~$1B O
Slide 11: Severely Underserved Standalone MIGS Opportunity
1 Represents Company analysis of third-party estimates. 2 Company estimates based on independent third-party analytics data. Severely Underserved Standalone MIGS Opportunity ~15% of POAG eyes1, >90% of procedures2 Combination Cataract Established, growing market Share-taking driven by efficacy, fast
Slide 12: FDA Indication Supports Standalone and Combination Cataract Utilization
OMNI® Surgical System is the only MIGS device based on clinical data that can: 12 12 FDA Indication Supports Standalone and Combination Cataract Utilization Use in Standalone or combo cataract procedures Access to 360 degrees of the diseased trabeculocanalicular outflow pathway Comprehensive treatme
Slide 13: Standalone Market Development is Underway
Standalone Market Development is Underway 1 Based on estimated patient visits with CPT codes 66174 and 65820 from a third-party data analytics provider. OMNI technology meets enhanced efficacy and safety needs ROMEO ROMEO 2-year extension TREY Sole purpose of OR visit – degree and consistency of eff
Slide 14: Surgical Glaucoma Pipeline
14 *This pipeline product is under development and is not commercially available. The Company may suspend or discontinue pipeline development projects at any time. Surgical Glaucoma Pipeline Developing Comprehensive Best-in-Class Portfolio Pipeline Current Products In-office Injection of Sustained R
Slide 15: Dry Eye Disease: Large + Underserved
1 Market Scope 2022 Dry Eye Products Report. 2 Lemp MA, Crews LA, Bron AJ, Foulks GN, Sullivan BD. Distribution of aqueous-deficient and evaporative dry eye in a clinic-based patient cohort: a retrospective study. Cornea. 2012;31(5):472-478. Dry Eye Disease: Large + Underserved TRABECULAR MESHWORK U
Slide 16: Overview: Tears and MGD
1 Blackie CA, Solomon JD, Greiner JV, Holmes M, Korb DR. Inner eyelid surface temperature as a function of warm compress methodology. Optom Vis Sci. 2008 Aug;85(8):675-83. doi: 10.1097/OPX.0b013e318181adef. PMID: 18677234. Overview: Tears and MGD Meibomian Glands Healthy meibomian glands release liq
Slide 17: $2.5B Core MGD Opportunity
$2.5B Core MGD Opportunity 17.8 million1 11.6 – 15.4 million US MGD patients1,2 6.4 – 8.5 million moderate to severe1,2 $2.5B core opportunity4 1 Market Scope 2022 Dry Eye Products Report. 2 Lemp MA, Crews LA, Bron AJ, Foulks GN, Sullivan BD. Distribution of aqueous-deficient and evaporative dry eye
Slide 18: TearCare: Custom-Designed to Treat MGD
1 Blackie CA, Solomon JD, Greiner JV, Holmes M, Korb DR. Inner eyelid surface temperature as a function of warm compress methodology. Optom Vis Sci. 2008 Aug;85(8):675-83. doi: 10.1097/OPX.0b013e318181adef. PMID: 18677234. TearCare: Custom-Designed to Treat MGD TearCare Technology Engineered to liqu
Slide 19: SAHARA RCT: Study Successful and Primary Signs Superiority Endpoint Achieved
Endpoints Primary Signs Endpoint: TearCare superior to Restasis®2 in tear break-up time Primary Symptoms Endpoint: Non-inferior to Restasis in OSDI3 Device vs. Drug Large study (n=345) Superiority+Durability1 Masked Randomized 1 Endpoints for SAHARA include superiority over Restasis at six months an
Slide 20: TearCare: Targeted + Scalable Growth
1 Eyelid treatment units sold means the number of TearCare SmartLids sold during the three-month periods ending June 30, 2023 and June 30, 2022. 2 Dry Eye Active customers means number of customers who ordered eyelid treatment units during the three-month periods ending June 30, 2023 and June 30, 20
Slide 21: Dry Eye Pipeline
*This pipeline product is under development and is not commercially available. The Company may suspend or discontinue pipeline development projects at any time. Dry Eye Pipeline Developing Comprehensive Best-in-Class Portfolio Pipeline Current Products OTC Artificial Tear Differentiated Lipid Layer
Slide 22: Robust Revenue Growth and Top-Tier Gross Margins
Robust Revenue Growth and Top-Tier Gross Margins $7.5 $23.3 $27.6 $49.0 $71.3 $91.5 Revenue CAGR FY18 to FY23E* +65% Q2’23 Y/Y Revenue +36% SGHT +35% Surgical Glaucoma +56% Dry Eye Q2’23 Gross Margin % 85.6% SGHT 88.6% Surgical Glaucoma 54.8% Dry Eye FY23E* figures based on the midpoint of annual re
Slide 23: Strong Financial Profile with Significant Momentum
1 Figures based on guidance as presented on August 3, 2023. Strong Financial Profile with Significant Momentum $89 – 94M FY 2023E Revenue 25-32% YOY growth1 $30.5M FY 2023E quarterly average Adjusted Operating Expense ~6% YOY decline1 ~30% revenue growth target in medium-term1 Estimated free cash fl
Slide 24: Investment Highlights
Investment Highlights Two Large, Growing, Underserved Markets Competitive Differentiation Driven by Efficacy Compelling Clinical Data Proven Commercial Capabilities Driving High Growth Strong Balance Sheet and Cash Position Experienced Management Team 24