CONTROL BIONICS LIMITED — Capital/Financing Update 2026

Mar 25, 2026

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26 March 2026

ASX Announcement

Control Bionics Signs First U.S. Letter of Intent for iOS Speech Device Program, linked to the recently announced partnership with NextLevel

Melbourne, Australia – Control Bionics Limited (ASX: CBL) (“CBL” or “the Company”), a leader in neurotechnology and assistive communication solutions, is pleased to announce that it has executed its first Letter of Intent (LOI) with a United States customer following the Company’s recently announced partnership with NextLevel .

The non-binding LOI outlines the customer’s intention to acquire a significant number of iOSbased speech generating devices annually once commercial supply commences. This device volume once delivered is expected to generate for CBL between US$2.5-3.5m revenue annually .

To demonstrate its commitment to the program, the customer will make an advance payment of US$100,000 to CBL. The advance will be credited pro-rata against the purchase price of the first 1,000 devices supplied under the program.

Shipments under the program are expected to commence towards the end of FY26 , subject to final commercial agreements and operational readiness.

This LOI represents the first commercial validation of the Company’s strategy to expand into iOS-based speech generating devices following its partnership with NextLevel. The collaboration enables Control Bionics to leverage its expertise in assistive communication, and distribution-led commercialisation to address the growing U.S. market for Apple iOS-based speech generating devices (SGDs) .

CBL believes the U.S. market for iOS-based SGDs represents a significant opportunity, supported by established reimbursement pathways and increasing clinician and user preference for tablet-based communication solutions.

Control Bionics CEO Jeremy Steele said:

“This Letter of Intent is an important early milestone following our partnership with NextLevel and demonstrates strong interest from US providers in Control Bionics’ iOS-based speech device strategy.

The advance payment from the customer provides tangible validation of market demand and supports our continued investment in bringing these solutions to market.”

The LOI is non-binding, and the parties will continue working towards a definitive supply agreement.

CBL will update the market as further milestones are achieved.

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

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

For further information, please contact:

Investors and Media:

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

Brett Crowley - Company Secretary brettcrowley@controlbionics.com

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

About Control Bionics:

Control Bionics is a Neurotechnology medical device company that has more than 20 years’ experience in the development and use of surface Electromyography (EMG) devices.

About NeuroNode:

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 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.

About NeuroStrip:

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, Europe and Japan.

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