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J.P. Morgan Healthcare Conference RxSight® Adjustable IOL Technology Ron Kurtz, CEO January 15, 2025
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This presentation contains forward-looking statements within the meaning of the Private Securities litigation Reform Act of 1995. Statements in this presentation that are not statements of historical fact are considered forward-looking statements, which are usually identified by the use of words such as “anticipates,” believes,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “ projects,” “seeks,” “should,” “will,” “forecast,” “budget,” and variations of such words or similar expressions. Statements of past performance, efforts or results, about which inferences or assumptions may be made, can also be forward-looking statements and are not indicative of future performance or results. Forward-looking statements are neither forecasts, promises nor guarantees, and are based on the current beliefs of the RxSight, Inc. (“RxSight,” “we” or “us”) management as well as assumptions made by and information currently available to RxSight. Such statements reflect the current views of RxSight with respect to future events and are subject to known and unknown risks, including business, regulatory, economic and competitive risks, uncertainties, contingencies and assumptions about RxSight. Such statements may include, without limitation, statements regarding (i) adoption trends and projections regarding the future volume of cataract surgical procedures and related revenue and the role of premium IOLs therein, (ii) estimates of RxSight’s addressable market opportunity and related growth, in the U.S. and globally, (iii) the efficacy of RxSight’s mechanisms and procedures, (iv) the performance of other premium and conventional IOLs compared to RxSight’s, (v) the number of patients eligible for LAL procedures, (vi) revenue associated with LAL procedures and the premium IOL market, (vii) statements regarding our future financial or business performance, (viii) the timing and success of our development and commercialization of our products, (ix) the continued acceptance of our products in the marketplace and our competitive positioning, (x) 2024 preliminary LDD installed base, LAL units sold and total revenue; (xi) anticipated continued growth based on RxSight adjustable innovation, and (xii) RxSight's plans to enter international markets. This presentation contains estimates, projections and other information concerning our business, our industry and the markets for our products, including data regarding the estimated size of such markets and the incidence of certain medical conditions. We obtained the industry, market and similar data set forth in this presentation from our internal estimates and research and from academic and industry research, publications, surveys and studies conducted by third parties, including governmental agencies. In some cases, we do not expressly refer to the sources from which this data is derived. Information that is based on estimates, forecasts, projections, market research or similar methodologies is subject to risks, uncertainties and actual events or circumstances may differ materially from events and circumstances that are assumed in this information. More details about these and other risks that may impact RxSight’s business are described under the heading “Risk Factors” in Part II, Item 1A of RxSight’s Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (“SEC”) on November 7, 2024, and in subsequent filings with the SEC, which are available on the SEC’s website at www.sec.gov. RxSight cautions you not to place undue reliance on any forward-looking statement, which speaks only as of the date hereof. RxSight does not undertake any duty to update any forward-looking statement or other information in this presentation, except to the extent required by law.
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A Paradigm Shift in Premium Cataract Surgery RxSight Technology provides a better medicine/ better business approach Drives a high growth, high margin, durable revenue model Pre-Op Exam Surgery Post-Op Standard Cataract Extraction with IOL Placement Introduced 75 years ago, revolutionizing visual outcomes with monofocal IOLs Most common surgical procedure in ophthalmology, low reimbursement ~32M global procedures annually, including ~5M in the U.S. 1 Glasses for residual refractive errors: • sphere, astigmatism, presbyopia Reimbursement Introduced 20 years ago, with goal of delivering better vision without glasses ~3–10x more practice revenue than standard IOL surgery 1 ~5M global procedures annually, including ~1M in the U.S. 1 Despite limitations of current lenses Reimbursement Patient Pay+ Cloudy cataractous lens removed Intraocular lens (IOL) implanted in place 1. Market Scope 2024 Premium Cataract Surgery Market Report, October 2024
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Choose LAL and approximate power Real life trial drives LALs adjustments Perform surgery Light Treatments Patients experience their vision at home after light treatment, return to clinic for additional adjustments, or to make the prescription permanent Streamlined patient discussions Pre-operative measurements Office-based light treatments designed to customize LAL to patient’s optimal refraction using the RxSight Light Delivery Device (LDD ) LAL Enables Better Medicine The Light Adjustable Lens is the only customizable IOL for optimized vision without glasses
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LAL eyes have better odds of achieving optimal visual outcomes (absolute MRSE and MRCyl ≤ 0.50 D)1 Other Lenses LAL The Ability to Adjust the Lens After Surgery Delivers Unmatched Refractive Precision 1. Data on file - RxSight Post-Approval Study
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Refractive Precision Enables Doctors to Efficiently Optimize Vision in Both Eyes RxSight enables seamless bilateral approach to customize visual outcomes. Final Vision Cataract Surgery A) Simultaneous or B) Sequential Post-Op Adjustments B Eye 1 Eye 2 A A B Vast majority of patients have cataract surgery in both eyes 1. Erie, E et al (2022). Prevalence of pseudophakia: U.S. population–based study. JCRS: 48; 717-722
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RxSight enables seamless bilateral approach to customize visual outcomes. Final Vision Cataract Surgery A) Simultaneous or B) Sequential Post-Op Adjustments B Eye 1 Eye 2 A A B High-Quality Vision Using Both Eyes Refractive Precision Enables Doctors to Efficiently Optimize Vision in Both Eyes 1. Erie, E et al (2022). Prevalence of pseudophakia: U.S. population–based study. JCRS: 48; 717-722 Vast majority of patients have cataract surgery in both eyes
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Growing Data Set and Clinical Consensus 1. RxSight Data on File: PMCS-002 2. 2024 RxSight Customer Survey PREFERENCE 82% would select for their own premium IOL surgery (vs 11% for multifocal and 7% EDOF) 2 QUALITY 92% believe LAL provides highest quality of vision 2 ACCURACY >94% +/- MRSE 1 OUTCOMES >90% 20/25 distance and J2 near without glasses 1 Real world data from over 3,000 eyes 1 LAL Customer Survey
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$2,064 1 Average additional practice net revenue per LAL implanted Boosting profitability through premium IOL adoption In RxSight customer survey, 40% of LAL patients would have received a non-premium IOL 1 Allows more patients to choose a premium IOL Enables more doctors and practices to participate in premium IOL segment LAL Enables Better Business 1. Haffey & Company 2024 Economic Study of LAL Users
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Building Infrastructure for Postoperative Adjustability RxSight’s Track Record of Success $14.7 $22.6 $49.0 $89.1 $139.9 * 2020 2021 2022 2023 2024 Total Revenue (in millions) 4,468 2020 8,328 2021 25,284 2022 54,873 2023 2024 98,055 * LAL Units 92 2020 206 2021 400 2022 666 2023 2024 971 * LDD Installed Base * Preliminary unaudited total
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A Future of Premium Cataract Surgery with Adjustability LALAll PremiumAll Cataract Today Potential Adjustable becomes standard within Premium (> 50% market share) driving segment growth 1. Market Scope 2024 IOL Report, March 2024 US Cataract Surgery CAGR of ~3% 1 US Premium Cataract Surgery Growth from 20% to ~35% of overall cataract procedures
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Expanding Access to Adjustability Evolving care delivery and innovative business models to expand access to adjustability Providing access to more patients and more implanters Practice A Surgeon Office with LDD Practice A Surgeon Office No LDD LDD Treatment Center Practice B Surgeon Office No LDD Practice C Surgeon Office No LDD Practice D Surgeon Office No LDD
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Continued Innovations in Adjustability Advancements drive further adoption LAL Next LAL Advancements Low Diopter LALs Expanded Treatment Ranges Next LDD Treatment Advancements Compact LDD Lens Innovations LAL+ ActivShield Light Treatment Innovations OD Light Treatment Light Treatment Centers Adoption
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Bringing the RxSight System to International Markets 4X Key OUS markets make up >80% of global procedures with growing procedure potential 1 Europe Korea JapanChina SE Asia Canada 1X 1. Market Scope 2024 Premium Cataract Surgery Market Report, October 2024
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Thank you! RxSight® Adjustable IOL Technology New Global Standard for Premium Cataract Surgery