Second Sight Reports Fourth Quarter and

Second Sight Reports Fourth Quarter and

Year End 2016 Financial Results

Sylmar, CA, March 9, 2017 - Second Sight Medical

Products, Inc. (NASDAQ: EYES) ("Second Sight" or "the Company"), a developer, manufacturer and marketer of

implantable visual prosthetics to provide some useful vision to blind patients, today reported financial results for the three-month

and twelve-month periods ended December 31, 2016.

Full Year 2016 and Recent Company Highlights:

Sight Reports Fourth Quarter and Year End 2016 Financial Results

"As a result of our revised and newly implemented U.S.

Centers of Excellence (COE) strategy, we expect to see a strong first half of 2017. Our COE strategy enables us to deliver a full

range of high-quality services critical to better patient outcomes, including patient recruitment and surgery, and post-surgical

programming and rehabilitation. We'll measure our success by the number of centers that conduct implants on a regular basis,"

stated Will McGuire, Chief Executive Officer of Second Sight.

"On the reimbursement front, we are continuing to pursue

more widespread coverage decisions in the U.S. and are pleased with the 2017 CMS reimbursement rate of $150,000; we are also making

progress in other global markets with recent reimbursement successes in England and Germany. These achievements, combined with

our R&D and clinical programs, should enable us to drive adoption and expand our reach into broader patient populations. We

look forward to providing updates throughout the year as we demonstrate traction of our COE model, work to upgrade the existing

Argus II technology, gather data to support the treatment of better-sighted individuals and initiate human trials for the Orion

I," concluded McGuire.

Fourth Quarter 2016 Financial Results

Net sales in the fourth quarter of 2016 were $715,000 compared

with $2.4 million in the fourth quarter of 2015. The decrease in revenue was mainly driven by the decrease in units sold.

The revenue per implant was $102,000 in the fourth quarter of 2016, compared with $112,000 in the fourth quarter of 2015.

Gross loss was $2.6 million in the fourth quarter of 2016,

compared to a $691,000 gross profit in the fourth quarter of 2015. This gross loss is primarily attributed to lower revenues, unabsorbed

production costs and excess inventory reserve adjustments when compared to the prior year. The cost of sales during the fourth

quarter of 2016 was $3.3 million, including a $2.3 million reserve for excess inventory and approximately $686,000 of unabsorbed

production costs due to lower production volumes.

Total operating expenses in the fourth quarter of 2016 were $7.8

million, compared with $6.2 million in the fourth quarter of 2015, reflecting higher research and development costs and higher

stock-based compensation and salaries.

Net loss for the fourth quarter of 2016 was $10.4 million,

or $0.24 per share, compared with a net loss of $5.5 million, or $0.15 per share, in the prior year quarter. The Company

recorded non-cash charges of $3.0 million and $860,000 during the fourth quarters of 2016 and 2015, respectively.

Non-GAAP adjusted net loss for the fourth quarter of 2016, excluding

non-cash charges, was $0.17 per share, compared to a non-GAAP adjusted net loss of $0.13 per share, in the fourth quarter of 2015.

Full Year 2016 Financial Results

For the twelve months ended December 31, 2016, net sales were

$4.0 million compared to $8.9 million in 2015. The decline was primarily driven by a reduction in global implant volumes, and a

reduced revenue per unit, resulting from a lower U.S. CMS reimbursement rate for 2016.

Gross loss in 2016 was $6.1 million versus a gross profit of

$3.7 million in 2015. The 2016 results include the unabsorbed production costs and an excess inventory reserve adjustment

Total operating expenses during 2016 were $27.1 million

versus $23.7 million during the same period in 2015. This increase includes higher general and administrative and R&D

costs offset by lower clinical costs, including higher compensation and stock-based compensation costs.

Sight Reports Fourth Quarter and Year End 2016 Financial Results

Net loss in 2016 was $33.2 million, or $0.84 per share, compared

with a net loss of $20.0 million, or $0.56 per share in the prior year. Non-GAAP adjusted net loss in 2016, excluding non-cash

expenses, was $24.8 million, or a loss of $0.63 per share compared with Non-GAAP adjusted net loss of $17.0 million and $0.48 per

share in the prior year.

As of December 31, 2016, Second Sight had $10.9 million in

cash, cash equivalents and investments. On March 6, 2017, the Company raised $20.1 through the issuance of Second Sight stock and

warrants in an oversubscribed rights offering to existing shareholders as of February 10, 2017.

As previously announced, Second Sight management will host its

fourth quarter 2016 conference call as follows:

A replay of the conference call will be available for two weeks

after the call's completion by dialing (800) 633-8284 (U.S.) or (402) 977-9140 (International). The conference ID for

the replay is 21847599. The archived webcast will be available for 30 days via the aforementioned URL.

Second Sight's mission is to develop,

manufacture and market innovative implantable visual prosthetics to enable blind individuals to achieve greater independence. Second

Sight has developed and now manufactures and markets the Argus II Retinal Prosthesis System. Enrollment has been completed

in a feasibility trial to test the safety and utility of the Argus II in individuals with Dry Age-Related Macular Degeneration.

Second Sight is also developing the Orion I Visual Cortical Prosthesis to restore some vision to individuals who are

blind due to causes other than preventable or treatable conditions. U.S. Headquarters are in Sylmar, California,

and European Headquarters are in Lausanne, Switzerland. For more information, visit www.secondsight.com.

About the Argus II Retinal Prosthesis System

Second Sight's Argus II System

provides electrical stimulation that bypasses the defunct retinal cells and stimulates remaining viable cells inducing

visual perception in individuals with severe to profound outer retinal degeneration such as retinitis pigmentosa (RP). The

Argus II works by converting images captured by a miniature video camera mounted on the patient's glasses into a series of

small electrical pulses, which are transmitted wirelessly to an array of electrodes implanted on the surface of the retina.

These pulses are intended to stimulate the retina's remaining cells, resulting in the perception of patterns of light in the

brain. The patient then learns to interpret these visual patterns, thereby regaining some useful vision. The system is

controlled by software and is upgradeable, which may provide improved performance as new algorithms are developed and tested.

Therefore current and future Argus II users may benefit from the continuously improving technology. The Argus II is the

first artificial retina to receive widespread approval, and is offered at approved centers

in Austria, Canada, France, Germany, Italy, Netherlands, Saudi

Arabia, Spain, Switzerland, Turkey, United Kingdom and the United States.

Sight Reports Fourth Quarter and Year End 2016 Financial Results

This press release contains forward-looking

statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange

and Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections.

All statements in this release that are not based on historical fact are "forward looking statements." These statements

may be identified by words such as "estimates," "anticipates," "projects," "plans," or

"planned," "seeks," "may," "will," "expects," "intends," "believes,"

"should," "potentially," "objectives," and similar expressions or the negative versions thereof and

which also may be identified by their context. While management has based any forward looking statements included in this release

on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve

inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements,

as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion

and Analysis of Financial Condition and Results of Operations sections of the Company's Annual Report on Form 10-K as filed on

March 11, 2016, as amended on August 8, 2016, and the Company's other reports filed from time to time with the Securities

and Exchange Commission. We urge you to consider those risks and uncertainties in evaluating the Company's forward-looking statements.

We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made.

Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any

updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations

with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Reconciliation to Non-GAAP Financial Measures