PAINCHEK LTD — Capital/Financing Update 2019

May 26, 2019

==> picture [201 x 54] intentionally omitted <==

27[th] May 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

PainChek® achieves International Markets Milestone

Signs UK Market Distribution Agreement with Person Centred Software

Highlights

• PainChek® enters first international market through distribution agreement with leading Aged Care software provider Person Centred Software

• Person Centred Software is based in the UK and supplies Care Management systems to more than 1,200 aged care providers, servicing over 40,000 resident beds

• PainChek® integration into Person Centred Software’s industry leading product range has been completed

PainChek Ltd (ASX: PCK), developer of the world’s first smart phone pain assessment and monitoring device, has reached a key milestone in the international expansion of its PainChek® tool – the signing of binding distribution agreement with Person Centred Software.

Person Centred Software provides Mobile Care Monitoring (MCM) which is an intelligent mobile solution for evidencing care interactions, electronic care planning, reporting and analysis. MCM is currently used by over 1,200 care homes across the UK, 94% of which are rated as good or outstanding by the Care Quality Commission (CQC). MCM enables care providers to reduce the time spent on paperwork, exceed compliance measures and improve the quality of care.

Under the agreement Person Centred Software will distribute the PainChek App to their UK client base through their sales, marketing and service capabilities. PainChek® integration into Person Centred Software’s Mobile Care Monitoring system will provide carers with seamless pain assessment and monitoring of their residents living within Aged Care.

“We are delighted to be working with Person Centred Software. Their team and product offering is highly complementary to PainChek® and together we can leverage the positive learnings and market acceptance from Australia into an even larger market. The agreement will provide us with rapid access to their large UK client base.” commented Philip Daffas, CEO of PainChek Ltd.

==> picture [594 x 82] intentionally omitted <==

==> picture [201 x 54] intentionally omitted <==

The PainChek® market pricing in the UK market is in line with the Australian model and the revenue generated will also be based on take up of the service.

“Person Centred Software is the most widely used electronic care planning system in the UK and we see PainChek® as a significant addition to improving the quality of care management. We have already completed the PainChek® integration into these products, so we are ready to go to market” said Person Centred Software’s Co-Founder and Director, Jonathan Papworth.

“We had extremely positive feedback from our joint visits to UK clients earlier in the year, with it widely recognised that as an evidence based technology PainChek® can help carers personalise their resident care plans” he added.

To manage this agreement, and others the Company is expecting to sign in the near future, the board of PainChek Ltd has committed to setting up a PainChek operation in the UK in near future.

Commenting on the distribution agreement and establishment of UK operations, PainChek CEO, Philip Daffas, said, “We are establishing a core PainChek UK team who can take advantage of the large European market opportunity and work with strategic partners, like Person Centred Software, on a country by country basis.

PainChek® has CE Mark clearance for the European Union, where there are 7.5 million people living with dementia and estimated more than 20 million carers. There are 850,000 people living with Dementia in the UK[1] .

1 https://www.alzheimers.org.uk/about-us/news-and-media/facts-media

==> picture [594 x 82] intentionally omitted <==

==> picture [201 x 54] intentionally omitted <==

The PainChek[®] Technology:

PainChek[®] uses cameras in smartphones and tablets to capture a brief video of the person, which is analysed in real time using facial recognition software to detect the presence of facial microexpressions that are indicative of the presence of pain.

==> picture [127 x 206] intentionally omitted <==

PainChek[®] artificial intelligence assesses facial microexpressions that are indicative of the presence of pain

==> picture [100 x 198] intentionally omitted <==

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

This data is then combined with other indicators of pain, such as vocalisations, behaviours and movements captured to calculate a pain severity score. Due to its speed, ease of use and its reproducibility, PainChek[®] will be able to be used to detect and measure a person’s pain, and then further measurements can be used to monitor the effectiveness of pain management.

PainChek[®] is being rolled out globally in two phases: first, PainChek[®] which is designed 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.

For further information contact:

Ian Hobson Company Secretary Tel: +61 8 9388 8290

Philip Daffas Managing Director Tel: +61 406-537-235

About Person Centred Software:

About Mobile Care Monitoring from Person Centred Software: www.personcentredsoftware.com

Mobile Care Monitoring is an intelligent mobile solution for evidencing care interactions, electronic care planning and reporting from Person Centred Software.

==> picture [594 x 82] intentionally omitted <==

==> picture [201 x 54] intentionally omitted <==

Our solution enables over 1,200 care homes in the UK to evidence care as it happens with our icondriven app, which creates more than 2 million care notes every day. The software reduces paperwork and gives carers more time to care, improving the quality of care and the care cycle overall.

Mobile Care Monitoring helps care providers to be recognised for innovative, transparent and person-centred care - CQC, CSSIW and Care Inspectorate regularly cite Mobile Care Monitoring in inspection reports as supporting providers to improve care quality.

Our philosophy is person-centred; providing benefits to everyone involved in care by delivering exceptional tools.

The company recently celebrated its first year providing their systems to care homes in Australia and New Zealand.

==> picture [594 x 82] intentionally omitted <==