Onward Medical N.V.

AGM Information • Mar 28, 2023

Convocation of the 2023 Annual General Meeting of Shareholders and Proposed Resolutions

EINDHOVEN, the Netherlands & LAUSANNE, Switzerland, and BOSTON, MA USA — March 27, 2023, 8:30 p.m. CEST – ONWARD Medical N.V. (Euronext: ONWD) (the Company), the medical technology company creating innovative therapies to restore movement, independence, and health in people with spinal cord injury, today has convened the 2023 Annual General Meeting of Shareholders (AGM), including the resolutions to be submitted for adoption at the AGM, which will be held in Amsterdam, the Netherlands, on May 8, 2023.

The resolutions, proposed by the Board, to be submitted for adoption at the AGM, are as follows:

• Adoption of the Company's statutory annual accounts for the financial year ended December 31, 2022, prepared in accordance with International Financial Reporting Standards (IFRS-EU). The 2022 statutory accounts were filed with the Netherlands Authority for the Financial Markets (AFM) on March 27, 2023, and are posted on the Company's website in the Investors section (https://ir.onwd.com) and the AFM's website (www.afm.nl).
• Implementation of the compensation policy over the financial year 2022 (advisory non-binding voting item).
• Release from liability of the members of the Board with respect to the performance of their duties during the financial year 2022.
• Instruction to Ernst & Young Accountants LLP for the external audit of the Company's annual accounts for the financial year 2023.
• The re-appointment of Dr. Grégoire Courtine as non-executive director of the Board for a fouryear term expiring at the end of the 2027 AGM.
• The appointment of Ms. Vivian Riefberg as non-executive director of the Board for a four-year term expiring at the end of the 2027 AGM.
• The delegation of the authority of the board to issue ordinary shares and to grant rights to subscribe for ordinary shares in the capital of the Company for 10% of the Company's issued share capital and to limit or exclude pre-emptive rights in connection therewith.
• The delegation of the authority of the board to issue ordinary shares and to grant rights to subscribe for ordinary shares in the capital of the Company for 50% of the Company's issued share capital and to limit or exclude pre-emptive rights in connection with a potential capital raise.
• The authorization to the Board to acquire ordinary shares in the capital of the Company.

THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014).

The record date for all shareholders to participate at the AGM will be April 10, 2023. The convening notice, the complete agenda, and all relevant detailed information concerning the 2023 AGM, as well as all related AGM materials, are available on the Company's website in the financial information of the Investors section (Financial Information - ONWARD Medical N.V. (onwd.com)) and made available to shareholders in compliance with legal requirements as of March 27, 2023.

To learn more about ONWARD's ARC Therapy and the company's vision to restore movement, independence, and health in people with spinal cord injury, please visit ONWD.com.

About ONWARD Medical

ONWARD is a medical technology company creating innovative therapies to restore movement, independence, and health in people with spinal cord injuries. ONWARD's work builds on more than a decade of basic science and preclinical research conducted at the world's leading neuroscience laboratories. ONWARD's ARC Therapy, which can be delivered by implantable (ARC-IM) or external (ARC-EX) systems, is designed to deliver targeted, programmed spinal cord stimulation to restore movement and other functions in people with spinal cord injury, ultimately improving their quality of life.

ONWARD has received eight Breakthrough Device Designations from the US FDA encompassing both ARC-IM and ARC-EX. ARC-EX is an external, non-invasive platform consisting of a stimulator and wireless programmer. Positive top-line data were reported in 2022 from the company's first pivotal study, called Up-LIFT, evaluating the ability of transcutaneous ARC Therapy to improve upper extremity strength and function. The company is now preparing marketing approval submissions for the US and Europe. ARC-IM consists of an implantable pulse generator and lead placed near the spinal cord. The company completed the first-in-human use of the ARC-IM neurostimulator and reported positive interim clinical outcomes for ARC-IM Therapy for improved blood pressure regulation following SCI in 2022.

ONWARD is headquartered in Eindhoven, the Netherlands. It maintains a Science and Engineering Center in Lausanne, Switzerland, and has a growing US presence in Boston, Massachusetts. The company has an academic partnership with .NeuroRestore, a collaboration between EPFL, the Swiss Federal Institute of Technology in Lausanne, and Lausanne University Hospital (CHUV). For additional information about the company, please visit ONWD.com. To access our 2023 Financial Calendar, please visit IR.ONWD.com.

For Company Enquiries:

info@onwd.com

For Media Enquiries:

MC Services AG US: Laurie Doyle, P: +1 339 832 0752 Europe: Dr. Johanna Kobler, Katja Arnold, Kaja Skorka P: +49 89 210 228 0 media@onwd.com

THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014).

For Investor Enquiries:

investors@onwd.com

Disclaimer

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company or, as appropriate, the Company directors' current expectations and projections about future events. By their nature, forward-looking statements involve several risks, uncertainties, and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forwardlooking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition, and technology, can cause actual events, performance, or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions, or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.