CONTROL BIONICS LIMITED — Capital/Financing Update 2025

Apr 27, 2025

28 April 2025

We’re pleased to share a progress update across our core product platforms - NeuroNode® and NeuroStrip® – as well as the commercial rollout of our NeuroBounce program, which uses Control Bionics’ technology to measurably improve explosive power and vertical leap for elite athletes.

With strong early traction, growing international partnerships, and increasing clinical validation, Control Bionics is executing on its strategy.

We look forward to keeping you updated as these partnerships mature and new opportunities are converted into recurring revenue and broader impact.

As always, thank you for your continued support.

Warm regards,

Jeremy Steele CEO and Managing Director, Control Bionics

NeuroNode® Only – U.S. Commercial Rollout Starts

Following the recent approval of our new U.S. HCPCS (Healthcare Common Procedure Coding System) code, which facilitates insurance reimbursement for NeuroNode® devices, Control Bionics has officially launched its NeuroNode Only sales model in the U.S.

Two respected U.S. distribution partners in the Augmentative and Alternative Communication (AAC) market are now on board.

PRC-Saltillo

• U.S. based global AAC leader with ~70 U.S. sales reps

Europe Update

and significant operations in Canada, Europe and Australia

• 10 sales reps trained and now actively demonstrating NeuroNode® devices across the U.S.

• First NeuroNode® purchase completed, with discussions underway to expand into additional territories

Forbes AAC

• A national U.S. AAC provider with 40+ staff across the country

• Initial team trained and NeuroNode® units purchased for demo and trial use

Discussions progressing with several potential distribution partners to expand NeuroNode® access into European markets.

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NeuroStrip® – Now Commercially Enabled, Clinical Studies Underway

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NeuroStrip® commercial and clinical momentum is building.

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New Software Version

Includes user logins and AWS cloudbased data storage, enabling software monetisation as a SaaS product and

StrokeLab Japan - Rehab Scaling

• All StrokeLab staff trained and using NeuroStrip® with patients

allowing for data tracking, customer usage insights, and real-time analytics.

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Early Adopters

The new version is being used by NeuroBounce, StrokeLab, and three U.S. physical therapy and rehabilitation facilities currently trialling the solution including the hardware.

• Partnered with one of Japan’s leading neurologists to launch a 100-patient clinical study on NeuroStrip® for stroke rehabilitation—results expected later this year

• A separate medical report on NeuroStrip® for diagnosing and treating Parkinson’s disease is also set for publication in 2025

NeuroBounce – Early Wins in U.S. Sports Performance and Launching in Australia

Control Bionics’ exclusive technology partner NeuroBounce is showing excellent early traction using NeuroStrip® to enhance athletic performance.

United States

• Signed NeuroStrip® software licensing agreement : Control Bionics to receive 7.5% of all NeuroBounce revenue

Australia

• Control Bionics holds exclusive licensing rights to deliver the NeuroBounce program nationally

• Early success: JJ Mandaquit, one of the top-ranked high school basketball players in the U.S ., improved his vertical leap by an extraordinary 6 inches (16.5 cm) over 3 weeks (more than a 5% increase in his starting jump height of 10 feet 7 inches!)

• Contracts are with Utah Prep (a premier U.S. basketball academy developing elite collegiate and NBA prospects) for finalisation as well as two additional customer negotiations underway.

• Appointed Brayden Mifsud to lead the rollout . Brayden is an Exercise Scientist and exNetball Australia and AIS High Performance Coach . He has completed training with NeuroBounce in the U.S.

• Launch customer: SEDA College (Melbourne-based Year 11/12 sports education program focused on AFL and basketball) starts training the first 5 athletes on May 5

• Active discussions continue with additional potential customers and delivery partners

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Control Bionics CEO speaks at Australia’s premier event dedicated to driving capital towards social and environmental solutions.

CEO, Jeremy Steele, attended the Impact Investment Summit Asia Pacific 2025 and spoke on the panel "Scaling Solutions Helping Young Australians with Disabilities" in March. It was a great opportunity to discuss how technology-driven innovation can create real impact, expanding access to assistive communication, mobility, and rehabilitation solutions for young Australians.

Go to Summit website

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Board Changes

Dr Stephanie Phillips Appointed to the Board In March, Dr Stephanie Phillips was appointed to the Board of Directors, bringing over three decades of clinical, academic and leadership experience in anaesthesia and critical care, and is a highly respected figure in the Australian medical community.

Resignation of Peter Ford, Founder of Control Bionics

The Board also announced the resignation of Peter Ford, founder of Control Bionics. Peter’s vision and passion were the driving force behind the creation of Control Bionics. Inspired by a desire to help unlock the potential of brilliant minds like Stephen Hawking, Peter’s insight in 1999 — that damaged muscles still emit usable electrical signals—led to the development of the NeuroNode and the founding of the Company.

Read Announcement

Successful $2m Private Placement

In February 2025, Control Bionics completed a private placement, raising approximately A$2.0 million from two existing shareholders at an issue price of A$0.045 per share.

The placement reflects the continued support of our major shareholders and represents a strong endorsement of the company’s strategic direction and growth potential .

Control Bionics has made significant progress expanding its product range and market reach, with NeuroStrip® gaining traction in sports science, health diagnostics, and rehabilitation, and NeuroNode® Only addressing unmet needs in assistive communication following the new HCPCS code approval in the U.S.

While scaling NeuroNode® Only and NeuroStrip® has taken longer than initially expected, the capital raise provides the company with the financial flexibility to continue executing its strategy, accelerate commercialisation, and drive long-term value for shareholders.

Read Announcement

Looking Ahead

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Control Bionics continues to make solid progress on our strategy to:

• Diversify revenue streams across communication, rehabilitation, and performance sectors

• Strengthen our presence in high-potential international markets

• • Expand product usage through strategic clinical partnerships and real-world outcomes

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