ELSIGHT LIMITED — Capital/Financing Update 2017

Jun 6, 2017

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UPDATED STATEMENT OF COMMITMENTS

Elsight Limited (ACN 616 435 753) ( Company ) intends to apply funds raised from the public offer (the Offer) over the first two years following admission of the Company to the official list of ASX as follows:

Funds available	Capital Raising ($5,000,000)	% of Funds
Existing cash reserves	$111,827	2.19%
Funds raised from the Offer	$5,000,000	97.81%
Total	$5,111,827	100%
Allocation of funds
Expenses of the Offer	$649,878	12.71%
Marketing and promotion expenses associated with the Technology	$1,897,042	37.11%
Technology and research and development1	$794,849	15.55%
Corporate overheads2	$765,708	14.98%
Payment to Learnicon LLC as partial repayment of its outstanding converting loan provided to El-Sight Israel as shown in the audited accounts of El-Sight Israel contained in the Investigating Accountant’s Report in Section 8 of the Prospectus	$530,000	10.37%
Unallocated working capital including Administration costs	$474,350	9.28%
Total	$5,111,827	100%

1 Product development includes the ongoing development of existing products into new formats and forms for increasing usage and availability of the products.

2 Corporate overheads include salaries and wages, rents and other corporate costs associated with managing the Company.

The above table is a statement of current intentions as of the date of this announcement. As with any budget, intervening events and new circumstances have the potential to affect the manner in which the funds are ultimately applied. The Board reserves the right to alter the way funds are applied on this basis.

For and on behalf of Elsight Limited

Stephen Buckley Company Secretary

Elsight Limited ACN 616 435 753

T: +61 8 6189 1155 | A: C/- Platinum Corporate Secretariat, Level 2, 46-50 Kings Park Road, West Perth WA 6005