WEEBIT NANO LTD — Board/Management Information 2023

Jun 19, 2023

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Variation to CEO, Coby Hanoch’s, employment agreement

20 June 2023 – Weebit Nano Ltd ( ASX : WBT , Weebit or Company ) is pleased to announce variations to the terms of the employment agreement of the CEO, Mr Coby Hanoch, which recognises Mr Hanoch’s role in leading the Company through its next growth phase as it commercialises its ReRAM non-volatile memory ( NVM ) technology.

Since his appointment on 1 October 2017, Mr Hanoch has led Weebit through a period of substantial growth that has seen the Company’s market capitalisation increase over 100x from circa A$12 million to circa A$1.35 billion today. Over that period, Weebit has successfully developed its ReRAM NVM technology, signed its first commercial agreements, grown its senior leadership team, and is now advancing discussions with multiple potential customers.

In light of the growth of Weebit and the substantial value created for shareholders, Mr Hanoch’s employment agreement has been varied to recognise the achievements under his leadership and reflect remuneration arrangements which are more appropriate for a company, which is the size and complexity of Weebit today.

The variations to Mr Hanoch’s employment agreement are as follows:

• Salary increased to NIS 80,000 (currently A$32,700) per month.

• Removal (in perpetuity) of Mr Hanoch’s entitlement to a Special Bonus. The entitlement to this Special Bonus was waived by Mr Hanoch in relation to the most recent capital raising, and would have been paid on that raising and any future capital raisings, calculated as 1% of any amount raised between A$3 million to A$8 million, and 1.5% of capital raised above A$8 million.

• Payment of a one-off bonus of a gross amount of A$800,000 at the same time as Mr Hanoch’s salary for July 2023 is paid, in recognition of the substantial growth of the Company and shareholder value created over the past almost six years that has seen Weebit grow over 100x from circa A$12 million market capitalisation to circa A$1.35 billion today.

• An annual bonus of up to six (6) times Mr Hanoch’s monthly salary per year, following the attainment of certain milestones designated by the Board each year for the year ahead.

There are no other changes to Mr Hanoch’s employment agreement.

Weebit Chair David Perlmutter said: “We are delighted to implement these variations to Coby’s employment agreement to recognise the substantial shareholder value created over the past almost six years of his leadership. The revised employment agreement reflects a remuneration structure that is more appropriate for a company the size of Weebit, and ensures Coby continues to be aligned and incentivised to deliver on the exciting growth opportunities we see ahead for our company.”

-ENDS-

Authorised for release by the Board of Weebit Nano Limited.

330 Collins St., Melbourne VIC 3000, Australia Office: +61-3-8689 9997 info@weebit-nano.com | www.weebit-nano.com

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For further information please contact:

Investors

Eric Kuret, Automic Markets P: +61 417 311 335 E: eric.kuret@automicgroup.com.au

Media – Australia

Tristan Everett, Automic Markets P: +61 403 789 096 E: tristan.everett@automicgroup.com.au

Media – US

Jen Bernier-Santarini, Weebit Nano P: +1 650-336-4222 E: jen@weebit-nano.com

About Weebit Nano Limited

Weebit Nano Limited is a leading developer of advanced semiconductor memory technology. The company’s ground-breaking Resistive RAM (ReRAM) addresses the growing need for significantly higher performance and lower power memory solutions in a range of new electronic products such as Internet of Things (IoT) devices, smartphones, robotics, autonomous vehicles, 5G communications and artificial intelligence.

Weebit’s ReRAM allows semiconductor memory elements to be significantly faster, less expensive, more reliable and more energy efficient than those using existing Flash memory solutions. As it is based on fab-friendly materials, Weebit ReRAM can be integrated within existing flows and processes faster and easier than other emerging technologies, without requiring special equipment or large investments.

See: www.weebit-nano.com or follow us on https://twitter.com/WeebitNano

Weebit Nano and the Weebit Nano logo are trademarks or registered trademarks of Weebit Nano Ltd. in the United States and other countries. Other company, product, and service names may be trademarks or service marks.

330 Collins St., Melbourne VIC 3000, Australia Office: +61-3-8689 9997 info@weebit-nano.com | www.weebit-nano.com