On January 11, 2018, ReWalk Robotics Ltd.
(the “Company”) received a letter (the “Update Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”)
with an update on the notice of deficiency of continued listing requirements, which Nasdaq previously sent to the Company. As previously
disclosed, the Company received a notice of deficiency (the “Deficiency Notice”) from Nasdaq on November 10, 2017 indicating
that the Company did not comply with the minimum $2,500,000 stockholders’ equity requirement for continued listing on The
Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b) (“Rule 5550(b)”), and did not meet the alternative $35,000,000
market value of listed securities standard (“MVLS”) and $500,000 net income standard requirements under Rule 5550(b).
In the Deficiency Notice, Nasdaq instructed the Company to submit a compliance plan, and stated that, following the submission,
Nasdaq could extend the Company’s time to regain compliance with Rule 5550(b) for up to 180 days from November 10, 2017.
In the Update Letter, Nasdaq agreed to extend the Company’s period to evidence compliance with Rule 5550(b) on the following
terms: (i) the Company must file its annual report on Form 10-K for the year ended December 31, 2017 by March 30, 2018, demonstrating
compliance as of December 31, 2017; (ii) the Company must show compliance as of March 30, 2018 when it files its quarterly report
on Form 10-Q for the quarter ended March 30, 2018; and (iii) if the Company does not show compliance as of either or both dates,
Nasdaq will notify the Company that its ordinary shares will be delisted. The Company would be permitted to appeal the delisting
determination to a Nasdaq Hearings Panel (the “Panel”), and the Company’s ordinary shares would remain listed
on The Nasdaq Capital Market pending a decision by the Panel after the hearing. The Company believes that, based on information
submitted to Nasdaq in the Company’s compliance plan, including its estimated financial results as of December 31, 2017 and
its plans for 2018, the Company will able to demonstrate compliance to Nasdaq as of both relevant dates.
Forward-Looking
Statements
In addition to
historical information, this report contains forward-looking statements within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, and Section 21E of the U.S. Securities Exchange Act of 1934.
Such forward-looking statements may include projections regarding ReWalk’s future performance and, in some cases, may be
identified by words like “anticipate,” “assume,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “future,” “will,” “should,” “would,”
“seek” and similar terms or phrases. The forward-looking statements contained in this report are based on management’s
current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many
of which are outside of ReWalk’s control. Important factors that could cause ReWalk’s actual results to differ materially
from those indicated in the forward-looking statements include, among others: ReWalk’s expectations regarding future growth,
including its ability to increase sales in its existing geographic markets, expand to new markets and achieve its planned expense
reductions; the conclusion of ReWalk’s management for the financial statements for the third quarter of 2017 and for fiscal
2016, and the opinion of ReWalk’s auditors in their report on the Company’s financial statements for fiscal 2016, that
there are substantial doubts as to ReWalk’s ability to continue as a going concern; ReWalk’s ability to maintain and
grow its reputation and the market acceptance of its products; ReWalk’s ability to achieve reimbursement from third-party
payors for its products; ReWalk’s expectations as to its clinical research program and clinical results; ReWalk’s expectations
as to the results of, and the Food and Drug Administration’s potential regulatory developments with respect to, ReWalk’s
mandatory post-market 522 surveillance study; the outcome of ongoing shareholder class action litigation relating to ReWalk’s
initial public offering; ReWalk’s ability to repay its secured indebtedness; ReWalk’s ability to improve its
products and develop new products; ReWalk’s ability to maintain adequate protection of its intellectual property and to avoid
violation of the intellectual property rights of others; ReWalk’s ability to gain and maintain regulatory approvals; ReWalk’s
ability to secure capital from its equity and debt financings in light of limitations under its Form S-3, the price range of its
ordinary shares and conditions in the financial markets, and the risk that such financings may dilute ReWalk’s shareholders
or restrict its business; ReWalk’s ability to use effectively the proceeds of offerings of securities; ReWalk’s ability
to maintain relationships with existing customers and develop relationships with new customers; the impact of the market price
of ReWalk’s ordinary shares on the determination of whether ReWalk is a passive foreign investment company; ReWalk’s
compliance with medical device reporting regulations to report adverse events involving its products and the potential impact of
such adverse events on ReWalk’s ability to market and sell its products; and other factors discussed under the heading “Risk
Factors” in ReWalk’s Annual Report on Form 10-K for the year ended December 31, 2016, as amended, filed with the U.S.
Securities and Exchange Commission and other documents subsequently filed with or furnished to the U.S. Securities and Exchange
Commission. Any forward-looking statement made in this report speaks only as of the date hereof. Factors or events that could cause
ReWalk’s actual results to differ from the statements contained herein may emerge from time to time, and it is not possible
for ReWalk to predict all of them. Except as required by law, ReWalk undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future developments or otherwise.