PAINCHEK LTD — Capital/Financing Update 2019

Jul 28, 2019

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29 July 2019

PainChek Limited ( ASX: PCK ) ABN 21 146 035 127 Suite 401, 35 Lime Street, Sydney, NSW, 2000 Registered Office: Suite 5, 95 Hay Street Subiaco WA 6008 www.painchek.com

2[nd] Tranche of Placement Received

Further to the Company’s ASX release dated 19 June 2019, PainChek Ltd (ASX: PCK) is pleased to confirm receipt of the 2[nd] tranche of $1 million, being the balance of the Placement, which raised $4.15 million (before costs).

The Placement was priced at 14.5 cents per share, which was a 10% discount to the 10-day VWAP of 16.11 cents at the time of the announcement. Parties subscribing to Placement shares also received one free attaching unlisted option exercisable at 25 cents each and expiring on 30[th] June 2022 for every two shares subscribed for. The new shares and options were issued pursuant to PainChek’s placement capacity under ASX listing rule 7.1.

The securities were issued as follows:

Allotment Date	Ordinary Shares	Free attachingoptions	Funds Received
21 June 2019	21,724,138	10,862,069	$3,150,000
29 July2019	6,896,552	3,448,276	$1,000,000
Total	28,620,690	14,310,345	$4,150,000

The Appendix 3B follows.

ENDS

For further information contact:

Ian Hobson Philip Daffas Company Secretary Managing Director Tel: +61 8 9388 8290 Tel: +61 406-537-235

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About PainChek®

PainChek® Ltd is an Australian based company that develops pain assessment technologies.

PainChek® is a smart-phone based medical device using artificial intelligence to assess and score pain levels in real time and update medical records in the cloud. PainChek® records a short video of the person’s face and analyses the images that indicate pain and records them.

Next, the caregiver uses PainChek® to record their observations of other pain related behaviours that complete the assessment. Finally, PainChek® calculates an overall pain score and stores the result allowing the caregiver to monitor the effect of medication and treatment over time.

PainChek® is being rolled out globally in two phases: first, PainChek® for adults who are unable to effectively verbalise their pain such as people with dementia, and second, PainChek® for Children who have not yet learnt to speak.

The PainChek® Shared Care Program is a PainChek® licensing model which enables a professional carer to share their resident or patient data securely with other healthcare professionals or designated homebased family carers for ongoing pain assessments or clinical data review.

To find out more, visit www.painchek.com

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PainChek[®] artificial intelligence assesses facial micro-expressions that are indicative of the presence of pain.

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PainChek[®] domains of pain assessment that calculates pain severity score.

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