CONTROL BIONICS LIMITED — Capital/Financing Update 2024

Oct 15, 2024

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16 October 2024

CONTROL BIONICS ISSUES UNDERWRITING AND PLACEMENT SHARES TO REACH $2.68m IN NEW CAPITAL

Control Bionics Limited ( CBL ) is pleased to announce that it has raised a total of $2.68 million from its recently completed Non-Renounceable Rights Issue and placement.

Rights issue

The total amount received by CBL from shareholders taking up their entitlements under the Rights Issue was $695,000. The underwriters to the Rights Issue have subscribed for shares in the amount of $833,000. The total raised under the Rights Issue is therefore $1.53 million.

The directors may over the next three months place the shortfall of approximately 8 million shares to raise a further $560,000.

Placement

CBL has successfully completed the placement approved by shareholders at the 2024 AGM. This has resulted in the issue of approximately 16.4 million shares to raise $1.15 million.

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

For further information, please contact:

Investors and Media

Jeremy Steele – CEO and Managing Director jsteele@controlbionics.com

Brett Crowley - Company Secretary brettcrowley@controlbionics.com

Investor Relations:

Joe Durak Executive Director & Founder Lynx Advisors joe@lynxadvisors.com.au +61 414 465 582

Control Bionics Limited Registered Office: Level 4, 11-13 Pearson St, Cremorne, Victoria 3121, Australia T: +61 3 9897 3576

W: www.controlbionics.com ABN: 45 115 465 462

For further information visit the website: https://www.controlbionics.com/

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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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) and Amyotrophic Lateral Sclerosis (ALS). 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 EMG (Electromyography) output. This output is then sent wirelessly via the NeuroNode to a personal computer, enabling speech and other computer controlled functions like email and texting. 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 is the only such product to harness three modalities – touch, eye and NeuroNode control – which combined yield 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. DROVE recently got approved by the TGA as a Class I medical device.

Control Bionics is currently commercialising its most recent advancement in its technology, the NeuroStrip ® . This wearable, miniaturised EMG device provides the business with the opportunity to enter new markets such as health diagnostics, sports performance and rehabilitation to name only a few potential markets.

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

About Control Bionics:

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