CONTROL BIONICS LIMITED — Capital/Financing Update 2023

Jun 12, 2023

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13 June 2023

Extension to Rights Issue Closing Date

Control Bionics Limited announces an extension to the Closing Date of its pro rata nonrenounceable rights issue ( Offer ) to 5pm on 30 June 2023. The extension of the Closing Date has been made to allow Eligible Shareholders additional time to consider participation in the Offer.

As a reminder, Eligible Shareholders who take up their full entitlement may also apply for Additional New Shares under the Shortfall Facility. Further information about how to apply for the Additional New Shares is set out in section 3.4 of the Offer Booklet.

The revised timetable for the remaining dates is set out below:

Last day to extend the offer Closing Date	27 June 2023
Rights Issue Closing Date	5pm (Sydney time) on 30 June 2023
Trading in New Shares on ASX on a "deferred settlement basis" begins	3 July 2023
Announcement of results of Rights Issue	3 July 2023
Issue of New Shares to successful applicants under the Rights Issue	4 July 2023
Trading in New Shares on ASX on a normal ("T+2") settlement basis begins	5 July 2023

The Company reserves the right, subject to the Corporations Act, the ASX Listing Rules and other applicable laws, to vary the dates of the Offer, including extending the Closing Date or accepting late acceptances, either generally or in particular cases, without notice.

This announcement is authorised by CBL’s Chairman, Roger Hawke.

About Control Bionics:

Control Bionics is a medical device company assisting patients whose ability to communicate verbally or via text and social media is compromised by illnesses such as Motor Neurone Disease (MND)/ Amyotrophic Lateral Sclerosis (ALS), Spinal Cord Injury, Traumatic Brain Injury and Cerebral Palsy among others. Our core patented NeuroNode technology is a wireless wearable device that detects minute signals sent from the brain to any skeletal muscle and is captured as Electromyography (EMG) signals which are processed on personal computers, smartphones and tablets to generate text, text to speech, email and other computer-controlled functions. Our technology is integrated with eye gaze technology whereby the eye gaze enables a cursor to be moved about a computer screen, driven much like a mouse, and the NeuroNode acts as like the mouse button. Control Bionics produces the only system to harness three modalities – touch, eye movement and EMG control – which combined yield

Control Bionics Limited Registered Office: Level 5, Suite 5.01, 697 Burke Road, Camberwell, Vic., 3124 T: +61 3 9897 3576 W: www.controlbionics.com

ABN: 45 115 465 462

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unique benefits in terms of the ability of patients to express themselves with significantly faster speed and less fatigue.

Control Bionics recently extended its offering to mobility with the launch of DROVE – the autonomous wheelchair module. DROVE allows powered users the independence to operate their wheelchairs in their own homes for the first time.

Control Bionics operates in North America, Australia, Singapore and Japan.

Control Bionics Limited

Registered Office: Level 5, Suite 5.01, 697 Burke Road, Camberwell, Vic., 3124 T: +61 3 9897 3576 W: www.controlbionics.com

ABN: 45 115 465 462