CONTROL BIONICS LIMITED — Capital/Financing Update 2024

May 12, 2024

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13 May 2024

ASX ANNOUNCEMENT (ASX:CBL)

Control Bionics Appoints Lynx Advisors as Corporate Advisor

Control Bionics Limited (ASX: CBL) (“CBL” “Control Bionics” or “the Company”), is pleased to announce that it has engaged Lynx Advisors Pty Ltd (“Lynx”), a boutique investment and corporate advisory firm, to provide corporate advisory services.

Lynx will assist with the Company’s ongoing capital markets strategy, provide introductions to a broader investor community, and other advisory services.

As consideration for these services, Control Bionics will issue to Lynx (and/or its nominees) 2,000,000 options (“Options”).

The Options will have the following terms:

• 1,000,000 options with an exercise price of $0.10 and a 2 (two) year expiry date and,

• 1,000,000 options with an exercise price of $0.15 and a 2 (two) year expiry date and,

• Lynx will pay a nominal issue price of $0.0001 per option.

Control Bionics Chief Executive Officer, Jeremy Steele said: “We are delighted to appoint Lynx as Corporate Advisors to the Company. Whilst boutique, professional and nimble in nature, Lynx brings extensive experience in the small capital markets space, raising capital, giving strategic advice, and providing investor relation services.”

This announcement has been authorised for release by the Board of Control Bionics Limited.

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.

Control Bionics Limited Registered Office: Level 4, 11-13 Pearson Street, Cremorne, Victoria, 3121, Australia T: +61 3 9897 3576 W: www.controlbionics.com ABN: 45 115 465 462

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.

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

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