Proposed Fundraising & General Meeting Adjournment

Rex Bionics Plc

("Rex Bionics" or the "Company")

Proposed Fundraising and Adjournment of General Meeting

18 July 2016: Rex Bionics Plc (AIM: RXB), the pioneer of the REX Robot technology that enhances the mobility of wheelchair users, announces that it is adjourning the general meeting of its shareholders planned for 19 July 2016 (the "General Meeting") for a short period. Notice of this meeting was circulated to shareholders in a shareholder circular dated 29 June 2016 (the "Circular"), in connection with the proposed subscription of 7,683,333 new ordinary shares by certain new and existing investors at a price of 30 pence per new ordinary share to raise £2.3 million (before expenses), conditional upon shareholder approval. The general meeting is now planned to take place on 1 August 2016 (the "Adjourned General Meeting"). As explained below, the revised arrangements will, with shareholders' approval, still enable the Company to raise £2.3 million a few weeks later than planned, comprising at least £1.05 million initially and potentially a further £1.25 million by early August 2016.

The reason for the adjournment is that the Company has been informed by one of the subscribers in the proposed fundraising, Maxhealth Medicine Co. Ltd (江苏美安医药股份有限公司) ("Maxhealth"), a Chinese listed entity and a distributor of REX for the People's Republic of China ("PRC"), that, absent it obtaining PRC foreign exchange approval, it is unable to transfer the requisite funds for a subscription of £1 million to the Company outside China in sterling in the required timeframe set out in the subscription agreement between the Company and Maxhealth dated 29 June 2016 in order for the General Meeting to go ahead when set. Maxhealth has now agreed with the Company that it will, however, be able to pay the necessary funds to the Company on or before 5 August 2016.

The Company is pleased to announce that three other major shareholder investors named in the Circular have all committed still to make their investments into the Company after the Adjourned General Meeting (conditional upon the passing of the required resolutions at that meeting and the fundraising now raising at least £1.05 million rather than £2.3 million).

Accordingly, the Company is adjourning the General Meeting until 1 August 2016, to give the Company time to prepare and circulate a supplementary circular (the "Supplementary Circular") which will which provide further details of the amended subscription arrangements. These arrangements are planned by the Company, using the authorities given by shareholders at the Adjourned General Meeting (if approved), to enable subscriptions from certain investors for, in total, initially at least £1.05 million and, separately and later if Maxhealth is able to meet the extended deadline, the £1 million subscription by Maxhealth (and a consequent additional subscription by Hunter Hall) for a further £1.25 million in total.

The Company intends to circulate the Supplementary Circular to its shareholders on or before 22 July 2016. A further announcement will be made in due course once it has been published.

This announcement is made by Crispin Simon, Chief Executive Officer, on behalf of the Company.

For further information please contact:

Rex Bionics Plc

Crispin Simon, Chief Executive Officer

+44 (0) 781 086 6386

Peter Worrall, Chief Financial Officer

+44 (0)1428 645416

Stifel Nicolaus Europe Limited (NOMAD and Broker)

Jonathan Senior/ Stewart Wallace / Ben Maddison

+44 (0) 20 7710 7600

Consilium Strategic Communications

Mary-Jane Elliott / Chris Welsh

[email protected]

+44 (0) 203 709 5700