WEEBIT NANO LTD — Capital/Financing Update 2021

Dec 19, 2021

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ASX RELEASE

Letter to Listed Option Holders

20 December 2021 – Weebit Nano Limited (ASX: WBT) advises that the attached letter is being sent to all holders of WBTOA listed options today.

• ENDS -

This announcement has been authorised for release by the Company Secretary of Weebit Nano Limited.

For further information please contact:

Investors

Eric Kuret, Market Eye P: +61 417 311 335 E: eric.kuret@marketeye.com.au

Media – Australia Media – US Tristan Everett, Market Eye Jen Bernier-Santarini, Weebit Nano P: +61 403 789 096 P: +1 650-336-4222 E: tristan.everett@marketeye.com.au E: jen@weebit-nano.com

About Weebit Nano Limited

Weebit Nano Ltd. is a leading developer of next-generation 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. Because it is based on fab-friendly materials, the technology can be quickly and easily integrated with existing flows and processes, without the need for 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 of others.

Contact Office: +972-9-7797832 info@weebit-nano.com www.weebit-nano.com

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15 December 2021

Dear Option holder,

Expiry of Listed Options (ASX: WBTOA) – IMPORTANT INFORMATION / ACTION REQUIRED

We are writing to you as a registered holder of listed options (ASX: WBTOA) ( Options ) in Weebit Nano Limited ( Weebit or the Company ) to remind you that the Options will expire at 5:00pm (AEDT) on 30 January 2022 ( Expiry Date ).

There is no obligation upon Option holders to exercise their Options. The courses of action available to you as a holder of these soon-to-expire Options are:

• (a) Exercise your Options : If you wish to exercise your Options, you must complete the “Options Exercise Form” ( Notice of Exercise ) accompanying this letter and provide the completed Notice of Exercise together with payment of $0.45 (45 cents) per Option being exercised in accordance with the instructions set out in the Notice of Exercise. Your completed Notice of Exercise and payment must be received by no later than 5:00pm (AEDT) on the Expiry Date. Instructions regarding methods of payment are included in the Notice of Exercise.

• (b) Sell your Options : Please note that official quotation of the Options on ASX will cease at close of trading on 21 January 2022, being four business days before the Expiry Date.

• (c) Do nothing and allow your Options to expire : If you do not exercise or sell your Options in the manner described above, they will expire at 5:00pm (AEDT) on 30 January 2022 and your right to subscribe for fully paid ordinary shares in the capital of the Company ( Shares ) at $0.45 (45 cents) per Share will lapse.

In accordance with clause 5.2 of Appendix 6A of the ASX Listing Rules, the Company provides the following information:

• (a) The name of the holder of the Options and the number of Options held and the number of Shares to be issued on exercise of the Options is set out in the personalised Notice of Exercise accompanying this letter.

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Contact Office: +972-9-7797832 info@weebit-nano.com www.weebit-nano.com

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• (b) The exercise price of each Option is $0.45 (45 cents).

• (c) The Options must be exercised and payment received no later than 5:00pm (AEDT) on 30 January 2022 (being the Expiry Date).

• (d) If you do not exercise (or sell) your Options in the manner described above, they will expire at 5:00pm (AEDT) on the Expiry Date and your right to subscribe for Shares at $0.45 (45 cents) per Share will lapse.

• (e) Official quotation of the Options will cease at close of trading on 21 January 2022, being four business days before the Expiry Date.

• (f) The latest sale price on ASX before the date of this notice for fully paid ordinary shares in Weebit Nano Limited (ASX: WBT), being the underlying securities to which the Options relate, was $2.76 on 14 December 2021.

• (g) During the three months preceding the date of this letter:

• i. The highest market price for fully paid ordinary shares in WBT was $3.80 on 13 October 2021; and

• ii. The lowest market price for fully paid ordinary shares in WBT was $2.47 on 30 September 2021.

• (h) No underwriting agreement exists in respect of the Options.

If Option holders have any queries in relation to exercising their Options, please contact the Company’s Investor Relations provider Market Eye on +61 3 9591 8904 between 9.00am and 5.00pm (AEDT) Monday to Friday.

Your Sincerely,

David Perlmutter Chairman

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Contact

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Office: +972-9-7797832 info@weebit-nano.com www.weebit-nano.com

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For all enquiries:

Phone:

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(within Australia) (03) 9591 8904 (outside Australia) +61 3 9591 8904

WBT

MR SAM SAMPLE 123 SAMPLE STREET SAMPLETOWN VIC 3000

Make your payment:

See overleaf for details on how to make your payment

Options Exercise Form

 [Options exercisable at $0.45 expiring at 5:00pm (AEDT) on 30 January 2022]

Step 1: Registration Name

Please check the details provided and update your address via www.investorcentre.com if any of the details are incorrect. If you have a CHESS sponsored holding, please contact your Controlling Participant to notify a change of address.

Step 2: Make Your Payment

You can exercise your options utilising the payment options detailed overleaf. By making your payment you confirm that you agree to all of the terms and conditions of the Options.

Choose one of the payment methods shown below.

BPAY ®: See overleaf. Do not return the slip with BPAY payment. Applicants should be aware that their own financial institution may implement earlier cut off times with regards to electronic payment, and should therefore take this into consideration when making payment. Ensure you have read and accurately followed your banking institution’s BPAY FAQ or other instructions prior to making multiple payments for multiple holdings under this offer.

Neither Computershare Investor Services Pty Limited nor Weebit Nano Ltd accepts any responsibility for loss incurred through incorrectly completed BPAY payments. It is the responsibility of the applicant to ensure that funds submitted through BPAY are received by this time.

By Mail: Complete the reverse side of the payment slip and detach and return with your payment. Make your cheque, bank draft or money order payable in Australian dollars to " Weebit Nano Ltd Options " and cross " Not Negotiable ". The cheque must be drawn from an Australian bank. Cash is not accepted.

Payment will be processed on the day of receipt and as such, sufficient cleared funds must be held in your account as cheques received may not be re-presented and may result in your Application being rejected. Paperclip (do not staple) your cheque(s) to the payment slip. Receipts will not be forwarded. Funds cannot be debited directly from your account.

Entering your contact details is not compulsory, but will assist us if we need to contact you.

Turn over for details on how to make your payment è

By submitting either electronic payment or this Options Expiry Notice:

• I/We confirm that I/we agree to all of the terms and conditions of the Options,

• I/We request that you allot me/us the number of shares applied for and I/we agree to accept such shares subject to the Constitution of the Company,

• I/We authorise you to register me/us as the holder(s) of the shares to be allotted and place my/our name on the register.

® Registered to BPAY Pty Limited ABN 69 079 137 518

916CR_0_Sample_CA/000001/000002/i

Options Exercise Form

X 9999999991

I ND

Registration Name & Option Details

[For your security keep your SRN/] HIN confidential.

MR SAM SAMPLE Registration Name: 123 SAMPLE STREET SAMPLETOWN VIC 3000

Optionholding Number of Options registered in your name Details: as at 15 December 2021:

Number of Shares to be issued on full exercise basis: Amount payable on full exercise at $0.45 per Option:

4,000 1 $0.01

Make Your Payment

To avoid postal delay make your payment via BPAY either online or by phone with your bank using the payment details below.

BPAY Pay by Mail: Biller Code: 339598  Make your cheque, bank draft or money order payable to" Weebit Nano Ltd Options " and cross " Not Negotiable ". Ref No: 1234 5678 9123 4567 89 Return your payment with the below payment slip to: Computershare Investor Services Pty Limited Contact your financial institution to make your GPO BOX 505 Melbourne Victoria 3001 Australia

Contact your financial institution to make your payment from your cheque or savings account.

BPAY

Neither Computershare Investor Services Pty Limited (CIS) nor Weebit Nano Ltd accepts any responsibility for loss incurred through incorrectly completed BPAY payments. It is the responsibility of the applicant to ensure that funds submitted through BPAY are received by this time. Eligible Optionholders should use the customer reference number shown on this Option Exercise Form when making a BPAY payment.

MAIL

Neither CIS nor Weebit Nano Ltd accepts any responsibility if you lodge the payment slip below at any other address or by any other means.

Privacy Notice

The personal information you provide on this form is collected by CIS, as registrar for the securities issuers (the issuer ), for the purpose of maintaining registers of securityholders, facilitating distribution payments and other corporate actions and communications. In addition, the issuer may authorise us on their behalf to send you marketing material or include such material in a corporate communication. You may elect not to receive marketing material by contacting CIS using the details provided above or emailing privacy@computershare.com.au. We may be required to collect your personal information under the Corporations Act 2001 (Cth) and ASX Settlement Operating Rules. We may disclose your personal information to our related bodies corporate and to other individuals or companies who assist us in supplying our services or who perform functions on our behalf, to the issuer for whom we maintain securities registers or to third parties upon direction by the issuer where related to the issuers administration of your securityholding, or as otherwise required or authorised by law. Some of these recipients may be located outside Australia, including in the following countries: Canada, India, New Zealand, the Philippines, the United Kingdom and the United States of America. For further details, including how to access and correct your personal information, and information on our privacy complaints handling procedure, please contact our Privacy Officer at privacy@computershare.com.au or see our Privacy Policy at www.computershare.com/au/privacy-policies.

Detach here

Weebit Nano Ltd Option Exercise Payment 4,000 Number of Options held: Number of Options Exercised: Amount enclosed at $0.45 per Option exercised: A$ .

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BPAY is the most efficient and secure form of payment. Your BPAY payment details are shown above.

12345678

Entitlement No: 12345678

MR SAM SAMPLE 123 SAMPLE STREET SAMPLETOWN VIC 3000

Contact & Cheque Details

Contact Daytime Name Telephone Drawer Cheque Number BSB Number Account Number Amount of Cheque

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123456789123456789+0000000001-3051+14