Rockley Photonics Raises Additional Financing

Rockley Photonics Holdings Limited (NYSE: RKLY) (“Rockley”), a global leader in photonics-based health monitoring and communications solutions, today announced that it has obtained $10.0 million of financing from the holders of its Convertible Senior Secured Notes due 2026. The agreement also creates a structure for the Company to work with these holders to explore up to $15.0 million in net additional financing in the form of notes which would be convertible into Rockley’s ordinary shares.

In connection with the investment from current holders, Andrew Rickman, chairman and chief executive officer of Rockley, provided an additional $0.5 million, bringing the total amount of financing to $10.5 million. Dr. Rickman’s participation was separately reviewed and approved by the Company’s audit committee and independent members of the Company’s board of directors.

“Our bondholders are committed to Rockley and its success. They’ve done a significant amount of work to understand the opportunity in front of us, and I believe their continued investment is a clear demonstration of their confidence in our ability to reach our goals,” said Dr. Andrew Rickman, chairman and chief executive officer of Rockley. “As we approach the commercialization of our Bioptx™ biosensing solution, we are at a critical point in the development of the Company. To that end, the bondholders and I devised a financing solution that would help us to deliver our product to our customers by year end. I believe this financing is a big step toward our achieving this goal.”

More detailed information concerning this financing and the potential for additional equity and equity linked financings can be found in the Current Report on Form 8-K that Rockley filed with the U.S. Securities and Exchange Commission on October 3, 2022.

About Rockley Photonics

A global leader in photonics-based health monitoring and communications solutions, Rockley Photonics is developing a comprehensive range of photonic integrated circuits and associated modules, sensors, and full-stack solutions. From next-generation sensing platforms specifically designed for mobile health monitoring and machine vision to high-speed, high-volume solutions for data communications, Rockley is laying the foundation for a new generation of applications across multiple industries. Rockley believes that photonics will eventually become as pervasive as micro-electronics, and it has developed a platform with the power and flexibility needed to address both mass markets and a wide variety of vertical applications.

Formed in 2013, Rockley is uniquely positioned to support hyper-scale manufacturing and address a multitude of high-volume markets. Rockley has partnered with numerous tier-1 customers across a diverse range of industries to deliver the complex optical systems required to bring transformational products to market.

To learn more about Rockley, visit rockleyphotonics.com.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release that are not historical facts constitute “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding Rockley’s future expectations, beliefs, plans, objectives, and assumptions regarding future events or performance. The words “accelerate,” “advance,” “anticipate,” “believe,” “can,” “capability,” “continue,” “could,” “develop,” “enable,” “enhance”, “estimate,” “eventual,” “expand, “expect,” “focus,” “forward,” “future,” “goal,” “ground-breaking” “intend,” “may,” “might,” “opportunity,” “outlook,” “plan,” “possible,” “position,” “potential,” “predict,” “project,” “revolutionize,” “seem,” “should,” “trend,” “vision,” “will,” “would” or other terms that predict or indicate future events, trends, or expectations, and similar expressions or the negative of such expressions may identify forward-looking statements, but the absence of these words or terms does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements regarding the following: (a) future financing that may be available to the Company; (b) the commitment of our bondholders to the future success of the Company and their confidence in our ability to reach out goals; and (c) the ability of this financing transaction to help Rockley deliver its products to customers by year end and the timing of the availability of our products and technology.

Forward-looking statements are subject to several risks, assumptions, and uncertainties (many of which are beyond Rockley’s control) that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, assumptions, and uncertainties include, but are not limited to, the factors described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021, and in other documents we file with the Securities and Exchange Commission. If any of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, actual results may differ materially from those discussed in or implied by these forward-looking statements. There can be no assurance that future developments affecting Rockley will be those that have been anticipated. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements speak only as of the date hereof and Rockley does not intend to update or revise any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law.

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