BrainsWay : Corporate Presentation June 2022

Elevating

Mental Health

Treatment

July 2022

Nasdaq/TASE: BWAY

Disclaimer

Safe Harbor and Non-GAAP Financial Measures

This presentation does not constitute an offer or invitation to sell or issue, or any solicitation of an offer to subscribe for or acquire any of the Company's securities or to participate in any investment in the Company.

No representation or warranty is made to the accuracy or completeness of this presentation. You must make your own investigation and assessment of the matters contained herein. In particular, no representation or warranty is given, and the Company has no responsibility, as to the achievement or reasonableness of any forecasts, estimates, or statements as to prospects contained or referred to in this presentation.

This presentation contains information that includes or is based on forward-looking statements within the meaning of the federal securities law. These statements are not guarantees of future performance, are based on current expectations of future events and are subject to various risks and uncertainties that could cause our actual activities, timing or results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: continued business impact from the COVID-19 global pandemic; weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally; difficulties or delays in manufacturing; legislative and regulatory actions; changes in reimbursement level from third-party payors; product liability claims; the impact of federal legislation to reform the United States healthcare system; changes in financial markets; changes in the competitive environment; failure to gain sufficient market adoption of our products; regulatory actions or delays; and our ability to realize anticipated operational and manufacturing efficiencies. Additional information concerning these and other factors, including the Risk Factors set forth therein, is contained in our filings with the U.S. Securities and Exchange Commission.

The forward-looking statements in this presentation are made based upon our current expectations. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements as a prediction of actual results. In addition, the presentation contains certain data and information that we obtained from various government and private publications. Statistical data in these publications also include projections based on a number of assumptions. If any one or more of the assumptions underlying the market data are later found to be incorrect, actual results may differ from the projections based on these assumptions. You should not place undue reliance on these forward-looking statements. All forward-looking statements included in this presentation are made only as of the date of this presentation. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

Certain non-GAAP financial measures are included in this presentation.

Corporate Presentation July 2022

2

BrainsWay at a Glance

Boldly Advancing Neuroscience to Improve Health and Transform Lives

• Cleared in multiple large underserved mental health disorder markets
• Proven, differentiated noninvasive neurostimulation platform technology
• Robust dossier of clinical data and pipeline of additional potential applications
• Attractive business model and financial profile
• Superior science, evidence, and support

Corporate Presentation July 2022

3

BrainsWay Leadership Team

Successful, Experienced Medical Device Professionals

Dr. Christopher von Jako	R. Scott Areglado	Hadar Levy	Dr. Aron Tendler	Dr. Yiftach Roth
President & CEO	SVP & CFO	SVP, COO	VP, CMO		VP, CSO
Joined January 2020	Joined May 2021	Joined July 2014	Joined October 2015		Co-Founded May 2006
25+ Years Med Device	25+ Years Finance	15+ Years Med Device	15+ Years Practicing Psychiatrist		15+ Years Med Device

Eric Hirt	Christopher Boyer				Menachem Klein
Dr. Joachim Seidel	Moria Ben Soussan	Amit Ginou
VP, U.S. Sales	VP, Global Marketing	VP, Corp Dev & Strategy	VP, R&D	VP, Site Manager	VP, GC and Corp Sec.
Joined May 2022	Joined June 2020	Joined March 2022	Joined October 2007	Joined November 2008	Joined November 2013
20+ Years Med Device	15+ Years Med Device	20+ Years Med Device	15+ Years Med Device	15+ Medical Device	15+ Years Corporate Law
Corporate Presentation July 2022				4

BrainsWay by the Numbers

Strong Fundamentals for Growth

34%		78%
Revenue Growth		Gross Margin
$29.7m FY 2021 vs. $22.1m FY 2020		FY 2021
790
100,000+1
Total Installed Base		Patients Treated
as of Q1 2022		3.5m+ individual treatments

Corporate Presentation July 2022

$54.7m

Cash Balance

as of Q1 2022

34+1

Completed Randomized Controlled

Trials

340+ Deep TMS™ publications

5