Major Grant Awarded by NZ Government

11 August 2014

Rex Bionics Plc

("Rex Bionics" or the "Company")

Rex Bionics awarded major research & development grant by NZ Government

Rex Bionics Plc (AIM: RXB), the developer and manufacturer of hands-free robotic exoskeletons for use by wheelchair users, today announces that its Auckland-based subsidiary Rex Bionics Ltd (RBL) has been awarded substantial new grant funding by the New Zealand Government to support the research and development of REX 3, the platform for the Company's next generation of exoskeletons.

The grant funding is being provided by Callaghan Innovation, a New Zealand Government body responsible for the promotion of innovation within New Zealand, under its R&D Growth Grant programme. Under the terms of the grant, Callaghan Innovation will reimburse, against monthly claims, 20% of eligible R&D expenditure incurred by RBL on the REX 3 project over a three year period commencing on 1 July 2014. The Company estimates that the total contribution towards the cost of the REX 3 programme during the funding period could exceed NZD1.5 million (£0.75 million).

Commenting on today's announcement, Jeremy Curnock Cook, Chief Executive of Rex bionics said: "We are delighted to be the recipients of this award from Callaghan Innovation, and I would like to take this opportunity to thank the New Zealand Government for its continuing support for Rex Bionics and the remarkable REX technology. The additional funding will be a significant boost for our REX 3 programme, underpinning the creation of new jobs at our operation in Auckland and helping to ensure that we deliver the next generation of REX exoskeletons to our international markets at the earliest opportunity."

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For further information please contact:

Rex Bionics Plc

Jeremy Curnock Cook, Chief Executive Officer

+44 (0) 7802 268634

Peter Worrall, Chief Financial Officer

+44 (0)1428 645416

Oriel Securities Limited (NOMAD and Broker)

Juliet Thompson/Jonathan Senior/Giles Balleny

+44 (0) 20 7710 7600

Consilium Strategic Communications

Mary-Jane Elliott / Emma Thompson / Jessica Hodgson / Lindsey Neville

[email protected]

+44 (0) 203 709 5700

About Rex Bionics

Rex Bionics (AIM: RXB) is an AIM-listed developer and manufacturer of hands-free robotic exoskeletons for use by people with mobility impairments. Founded in Auckland, New Zealand by two robotics engineers with first-hand experience of wheelchair users and their needs, Rex Bionics focuses on products designed to enable wheelchair users to stand and walk autonomously without the need for crutches or supports and is the only company to produce hands-free walking devices for wheelchair users. Rex Bionics' marketed products: REX Rehab and REX Personal, can be used by people with complete spinal cord injury, but also by a much broader potential customer base, including people with multiple sclerosis and muscular dystrophy. In May 2014, Rex Bionics joined AIM with a fundraising of £10 million (gross) to scale up production, distribution and marketing internationally, in order to support growing demand for both REX products as well as developing the next generation of REX devices, REX 3.  For more information please visit http://www.rexbionics.com.