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Axonics® Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares

Axonics Modulation Technologies, Inc. (NASDAQ: AXNX) (“Axonics”), a medical technology company focused on the design, development and commercialization of innovative and minimally invasive sacral neuromodulation (“SNM”) solutions for the treatment of overactive bladder (“OAB”), fecal incontinence (“FI”), and urinary retention (“UR”), today announced that the underwriters of its initial public offering exercised in full their option to purchase an additional 1,200,000 shares of common stock from Axonics at the initial public offering price of $15.00 per share, less underwriting discounts and commissions.

With this exercise, the total number of shares of common stock sold by Axonics in the offering increased to 9,200,000 shares, representing total gross proceeds of $138 million, before underwriting discounts and commissions and offering expenses.

Axonics’ common stock began trading on The Nasdaq Global Select Market under the ticker symbol “AXNX” on October 31, 2018.

BofA Merrill Lynch and Morgan Stanley acted as joint book-running managers for the offering. Wells Fargo Securities acted as lead manager and SunTrust Robinson Humphrey acted as co-manager for the offering.

A registration statement on Form S-1, including a prospectus relating to the offering, was filed with, and declared effective by, the U.S. Securities and Exchange Commission on October 30, 2018. The offering of these shares was made only by means of a prospectus. Copies of the prospectus may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@baml.com ; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Axonics Modulation Technologies, Inc.

Axonics has developed an innovative rechargeable SNM system for the treatment of patients with OAB, FI, and UR. Axonics’ proprietary r-SNM System is designed to be 60% smaller than existing technology and to last approximately 15 years. Axonics currently has marketing approvals in Europe, Canada, and Australia for OAB, FI, and UR.

Contact:

Axonics’ Contact Axonics Modulation Technologies, Inc. Dan Dearen, +1-949-396-6320 President & Chief Financial Officer ir@axonics.com Investor & Media Contact W2Opure Matt Clawson, +1-949-370-8500 mclawson@w2ogroup.com

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