CONTROL BIONICS LIMITED — Capital/Financing Update 2025

Jun 12, 2025

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13 June 2025

ASX ANNOUNCEMENT (ASX:CBL)

FY25 Trading Update and NeuroStrip Progress

Control Bionics Limited (ASX:CBL) (“Control Bionics” or “the Company”), an Australian leader in Electromyography (EMG) medical device technology, is pleased to provide a trading update ahead of the close of the financial year ending 30 June 2025.

Key Highlights

• FY25 revenue on track to be a record year , with YTD unaudited revenue to 31 May 2025 up 14% to ~$5.4m on the same period last year.

• U.S. sales growth accelerating , supported by HCPCS insurance code reimbursement and new distribution partners.

• Australian revenue growth , with improved NDIS approval consistency boosting client access.

• NeuroStrip® commercialisation progressing , with updated hardware now in trials across U.S., Japan and Australia.

• NeuroBounce ® delivering strong outcomes , with successful first Australian rollout and further expansion planned.

Revenue Performance

FY25 is on track to be the strongest revenue year in the Company’s history.

Year to date revenue at the end of May 2025 is 14% ahead to ~$5.4m compared to the prior corresponding period. This has been driven by strong performance in the United States and growth in Australia.

In the United States, revenue growth has been significantly bolstered by the benefits of the new Healthcare Common Procedure Coding System (HCPCS) insurance code, which has improved reimbursement processes and accelerated market adoption.

In Australia, more consistent approvals from the National Disability Insurance Scheme (NDIS) have underpinned a strong year for revenue growth, with improved reliability in funding translating to greater client access and commercial momentum.

This positive trend reflects growing demand for the Company’s core NeuroNode® solutions and increasing traction in new commercial markets, including the Company’s NeuroNode-only sales strategy and early-stage adoption of NeuroStrip®.

“We are very encouraged by the trajectory of our global business. FY25 is shaping up to be our best year yet in terms of sales revenue, which is a testament to our expanding market presence and continued focus on commercial execution. With solid momentum heading into June, we remain confident in the underlying strength of our diversified strategy.” — Jeremy Steele, CEO

Operational Outlook

The Company remains focused on executing its strategy to diversify revenues beyond assistive communication into high-growth areas such as sports performance, rehabilitation, and health diagnostics.

The latest version of our NeuroStrip® hardware delivers an extraordinarily efficacious outcome for users. Now being trialled across the U.S., Australia and Japan, it weighs less than a sheet of paper and enables seamless integration with our mobile app. The updated app supports instant data review, data labelling, usage logging, and real-time analytics—key features to support its rollout as a SaaS product.

These enhancements are expected to unlock new recurring revenue streams and provide valuable insight into product usage and performance.

NeuroBounce® – Sports Performance Expansion

NeuroBounce® —powered by Control Bionics’ NeuroStrip®— continues to gain commercial traction as a compelling application of our EMG technology in the sports performance market.

In the U.S., the program has delivered measurable performance improvements for athletes across multiple sports.

Last week, Control Bionics successfully completed the first NeuroBounce program in Austral ia with five high-performance basketballers from SEDA College in Melbourne .

The results from the 4-week program have been outstanding:

• All athletes increased their vertical jump height by at least 5cm

• One athlete achieved an extraordinary 14cm increase in vertical jump height

• Sprint test pace improved materially across the group

The results are possible through the use of our NeuroStrip® EMG technology which ensures athletes unlock new muscle fibres to deliver increased explosiveness.

We are currently in discussions with additional sports organisations and performance centres in both regions as we look to scale the NeuroBounce program further in FY26 .

The Company looks forward to updating shareholders with full FY25 results following the close of the financial year.

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

For further information, please contact:

Jeremy Steele

CEO & 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

This ASX announcement has been approved for release by the Board of Directors 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. 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 has a 20% investment in Neuro Elite Athletics to drive rapid growth of their NeuroBounce program in the US and Australia.

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

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