Company: BWAY
Filing Date: 2025-04-22
Form Type: F-3
Source: 0001171843-25-002378
Chunk: 24

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: F-3
Chunk 24
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 whether the selling shareholder will exercise its Warrant nor do we know how long the selling
shareholder will hold its Offered ADSs (including any ADSs acquired upon exercise of the Warrant) before selling them, if at all, or whether
the selling shareholder may choose to surrender all or a portion of the Offered ADSs for Ordinary Shares. Except as stated above, we currently
have no agreements, arrangements or understandings with the selling shareholder regarding the exercise of the Warrant, or the sale or
other disposition of any of the Offered ADSs. The Offered ADSs covered hereby may be offered from time to time by the selling shareholder.

Unless otherwise indicated, all information contained
in the table below and the footnotes thereto is based upon information provided to us by the selling shareholder. The percentage of shares
owned prior to and after the offering is based on 37,738,456 of our Ordinary Shares outstanding as of March 31, 2025. Unless otherwise
indicated in the footnotes to this table, we believe that the selling shareholder has sole voting and investment power with respect to
the Ordinary Shares indicated as beneficially owned. Except as otherwise indicated below, based on the information provided to us by the
selling shareholder, and to the best of our knowledge, the selling shareholder is not a broker-dealer or an affiliate of a broker-dealer.

|                                  |     | Ordinary Shares Beneficially Owned 
 Before Offering                    |           |     |            |       |   |     | Maximum                   
 Number of Ordinary Shares 
 Offered(1)                |           |           |     | Ordinary Shares Beneficially Owned 
 After Offering                     |   |            |     |   |   |
|                                  |     | Number(1)                          |           |     | Percentage |       |   |     |                           |           | Number(1) |     |                                    |   | Percentage |     |   |   |
| Selling Shareholder              |     |                                    |           |     |            |       |   |     |                           |           |           |     |                                    |   |            |     |   |   |
| Valor BrainsWay Holdings, LLC(2) |     |                                    | 7,207,490 |     |            | 17.69 | % |     |                           | 7,207,490 |           |     |                                    | — |            |     | — | % |

____________________

| (*) | Assumes all ADSs