ReWalk Robotics Reports First Quarter 2017 Financial Results -- Record revenue of $2.5 million, up 21% over prior year quarter -- -- 14 favorable commercial case by case insurance coverage decisions

ReWalk Robotics Reports First Quarter

2017 Financial Results

-- Record revenue of $2.5 million, up 21%

over prior year quarter --

-- 14 favorable commercial case by case

insurance coverage decisions in the US & Germany --

-- 28 units ordered for the U.S. Department

of Veterans' Affairs Randomized Exoskeleton Study --

YOKNEAM ILIT, ISRAEL / MARLBOROUGH, MA, May 4, 2017 -

ReWalk Robotics Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company") today announced its financial results for

the three months ended March 31, 2017.

Highlights of and subsequent to the first quarter include:

"We are making excellent progress

with each of our key initiatives. Record case by case coverage decisions and active coverage contract discussions with commercial

payors in the U.S. and Germany reflect the growing acceptance of exoskeletons as mainstream technology. In parallel, the VA has

added sufficient inventory and resources to expand its randomized exoskeleton study to all 10 planned centers, which will help

accelerate enrollment. Through the study, those enrolled will have a direct path to securing their own system via the VA's

coverage protocol (SOP). In addition, our innovative soft suit exoskeleton for stroke and other lower limb disabilities is approaching

a design freeze, with commercial launch expected at the end of 2018. We believe we are on the right path as we continue to build

the foundation of this new industry," stated Larry Jasinski, Chief Executive Officer.

First Quarter 2017 Financial

Total revenue was $2.5 million for

the first quarter of 2017, compared with $2.1 million in the first quarter of 2016, and up sequentially from $1.6 million in the

fourth quarter of 2016. 37 ReWalk systems were placed during the first quarter, compared with 32 ReWalk systems placed in the prior

Gross margin improved to 42% compared

to 24% in the prior year period.

Net loss was $6.4 million for the first

quarter of 2017 compared to a net loss of $6.9 million in the first quarter of 2016. Non-GAAP net loss for the first quarter was

$5.3 million compared with a non-GAAP net loss of $5.9 million in the first quarter of 2016.*

*A reconciliation of net loss to non-GAAP

net loss is included at the end of this press release.

As of March 31, 2017, ReWalk had $17.1

million in cash on its balance sheet.

ReWalk management will host its first

quarter 2017 conference call as follows:

A telephone replay will be available

shortly after the completion of the call for two weeks at (855) 859-2056 (U.S.) or (404) 537-3406 (International). The passcode

for the replay is 5398582.

About ReWalk Robotics Ltd.

ReWalk Robotics Ltd. develops, manufactures

and markets wearable robotic exoskeletons for individuals with spinal cord injury. Our mission is to fundamentally change the quality

of life for individuals with lower limb disability through the creation and development of market leading robotic technologies.

Founded in 2001, ReWalk has headquarters in the U.S., Israel and Germany. For more information on the ReWalk systems, please visit

http://www.rewalk.com.

ReWalk is a registered trademark

of ReWalk Robotics Ltd. in Israel.

Forward-Looking Statements

In addition to historical information, this press release 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 press release 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 and to expand to new markets; the conclusion of ReWalk's management in the notes to the

consolidated financial statements for the first quarter of 2017 and for fiscal 2016, and the opinion of ReWalk's auditors

in their report on the Company's consolidated 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 to achieve

and maintain 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 actions 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 at-the-market equity distribution program based on the price range of its ordinary shares and conditions

in the financial markets; ReWalk's ability to use effectively the proceeds of its follow-on offering; ReWalk's ability

to maintain relationships with existing customers and develop relationships with new customers; 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 press release 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.

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are

prepared and presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), ReWalk believes that the use of

non-GAAP net loss is helpful to its investors. This measure is not prepared in accordance with GAAP.

For the three months ended March 31, 2017 and 2016, non-GAAP

net loss is calculated as GAAP net loss excluding (i) non-cash share-based compensation expense, (ii) depreciation and (iii) non-cash

Because of varying available valuation

methodologies, subjective assumptions, and the variety of equity instruments that can impact a company's non-cash expenses,

ReWalk believes that providing non-GAAP net loss that excludes non-cash share-based compensation expense, depreciation and non-cash

financial (income) expenses allows for more meaningful comparisons between operating results from period to period. This non-GAAP

financial measure is an important tool for financial and operational decision-making and for the Company's evaluation of

its operating results over different periods of time. Non-GAAP net loss is not a measure of the Company's financial performance

under U.S. GAAP, and should not be considered as an alternative to operating loss or net loss or any other performance measures

derived in accordance with GAAP. Non-GAAP financial measures may not provide information that is directly comparable to that provided

by other companies in ReWalk's industry, as other companies in the industry may calculate non-GAAP financial results differently,

particularly related to non-recurring, unusual items. In addition, there are limitations in using non-GAAP financial measures in

general, because non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial

measures used by other companies and exclude expenses that may have a material impact on the Company's reported financial

results. Further, share-based compensation expense has been, and will continue to be for the foreseeable future, a significant

recurring expense in the Company's business and an important part of the compensation provided to its employees. The presentation

of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial