Feedback from a KOL call on optometry

Research evidence excerpt

Feedback from a KOL call on optometry

Equity Research

European Medical Technology & Services

16 July 2026

EssilorLuxottica

Feedback from a KOL call on

optometry

KOL sees Stellest as a game changer. Prescribing for all ESLX.PA/EL FP OVERWEIGHT

POSITIVEeligible children and can see patients wearing them through EuropeanTechnologyMedical& Services

college, in conjunction with MiSight. Significant increase in Price Target EUR 300.00

coatings penetration as technology has improved. Sees Price (14-Jul-26) EUR 165.15 Potential Upside/Downside +81.7%

Source: Bloomberg, Barclays Researchlimited risk of cannibalisation of standard frames by

smart glasses

European Medical Technology &

Services

We were pleased to host a KOL call with Dr Alice Mann, optometrist and owner at Focal Point Hassan Al-Wakeel, CFA

Optical (09/1988-present) in Long Island, for a discussion on optometry trends, myopia +44 (0)20 7773 3898

management and smart glasses. We highlight three key takeaways with our notes below: 1) hassan.al-wakeel@barclays.com

Stellest. Our KOL expects it to be standard of care. Putting all kids who need glasses for the first Barclays, UK

time in Stellest. Can see patients wanting to use MiSight in their teens for sports and socialising, Jonathon Unwin

but expects they will have Stellest lenses, too, potentially throughout college. 2) Smart glasses. +44 (0)20 7773 0354

She sees this as a niche product, and sees limited cannibalisation risk of standard frames. jonathon.unwin@barclays.com

Warranty on the electronics means she cannot adjust the frames to the patient, which makes it Barclays, UK

harder to fit Rx lenses, particularly progressive lenses. All Rx lens fittings (into the frame) have to Marco Pires-Cox