PAINCHEK LTD — Director's Dealing 2019

Nov 27, 2019

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28 November 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 Phone +61 8 9388 8290 info@paincheck.com

Sale of Shares by Directors to Institutional Investors

• The four Directors of PainChek[®] have sold an aggregate 45.1m shares to fund the majority of a tax liability resulting from the exercise of options on 22 November 2019

• The shares were predominantly purchased by a group of new domestic and international institutional investors

• The Directors have agreed to enter into a voluntary 12 month escrow on the balance of shares received from the exercise of options

PainChek Limited (ASX code: PCK) ( PainChek[®] , the Company ) is pleased to announce that the four Directors have sold 45,099,078 ordinary shares to fund the majority of a tax liability resulting from the exercise of options announced on 22 November 2019.

The shares were predominantly purchased by a group of new international and domestic institutional investors. The Transaction is non-dilutive for existing shareholders.

PainChek[®] Chairman, John Murray, provided the following comment in relation to the Transaction:

“We are pleased to welcome multiple new institutional investors onto the register. The buying support from these institutions provides further validation of the PainChek[®] business opportunity. While the directors required funding to cover the tax liability resulting from the recent options exercise, we remain very supportive of the long term strategy of the Company and have happily committed to a 12 month escrow on our remaining shares from the options exercise. The PainChek[®] Board and senior management look forward to executing on the next phase of growth for the company for the benefit of all shareholders.”

For further information contact: Ian Hobson Company Secretary Tel: +61 8 9388 8290

Philip Daffas Managing Director 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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