Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 193

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 16A
Chunk 193
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We also have policies and procedures to oversee and
identify the risks from cybersecurity threats associated with our use of third-party service providers and vendors. Cybersecurity considerations
are taken into account by our Company in its selection of outside vendors, particularly those involved with R& D initiatives such as
our efforts to integrate cloud-based capabilities within our proprietary Deep TMS device and our plans with respect to our next generation
devices incorporating rotational field technology. Any code relating to the operating systems on our devices, and any off-the-shelf software
we wish to integrate into our devices, is vetted to ensure that it meets certain cybersecurity requirements relating, for example, to
access limitations and encryption capabilities. Our Head of Software Development requires that subcontractors involved in code writing/development
be licensed by or partnered with the world’s leading cloud operator, and personally reviews all code inputs and functional configuration
inputs to ensure that it meets various cybersecurity protections such as those relating to access limitations, encryption capabilities
and password protection.

Furthermore, as part of our routine contracting with
customers, our legal department routinely considers whether and to what extent specialized contractual agreements (including, for example,
Business Associates Agreements) are warranted or prudent, and/or whether to include specific contractual provisions (including for example,
requirements to restrict collection, transmission and storage of and/or to anonymize confidential Patient Health Information pursuant
to the Health Insurance Portability and Accountability Act (HIPAA) and/or other similar patient privacy statutes). Inclusion of these
contracts and/or clauses, where appropriate, is intended to limit any negative impact that may result from a cybersecurity breach of our
IT systems and our customer-facing devices.

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To date, no cybersecurity incident (or aggregation
of incidents) or cybersecurity threat has materially affected our results of operations or financial condition. However, an actual or
perceived breach of our security could damage our reputation, cause existing clients to discontinue using our Deep TMS systems, prevent
us from attracting new clients, interfere with the progress of our clinical trials, interfere with our efforts to pursue regulatory approvals
for our product candidates, or subject us to third-party lawsuits, regulatory fines or other actions or liabilities, any of which could
adversely affect our business, operating results or financial condition. During the year ended December 31, 2024 we purchased a cyber
liability insurance policy. For further information, see also “Item 3D. Risk Factors - Risks Related to our Business and Industry.”