MATERIAL CHANGE REPORT

Form 51-102F3

Item 1 Name and Address of Company

Titan Medical Inc. (the “Company” or “Titan”)

155 University Avenue

Suite 750

Toronto, Ontario

M5H 3B7

Item 2 Date of Material Change

April 29, 2020.

Item 3 News Release

Attached as Schedule “A” hereto is a copy of the news release relating to the material change, which was disseminated on April 29, 2020 through Business Wire. The news release was subsequently filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

Item 4 Summary of Material Change

On April 29, 2020, the Company announced that it had closed a US$1.5 million senior secured loan facility (“Loan Facility”) from a leading global medical technology company. The Loan Facility has an interest rate of 8% per annum and is repayable not later than April 29, 2023.

Item 5 Full Description of Material Change

Please see the press release attached as Schedule “A” hereto.

Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable.

Item 7 Omitted Information

Not applicable.

Item 8 Executive Officer

The following executive officer is knowledgeable about the material change and may be contacted about this report:

Stephen Randall

Chief Financial Officer

(416) 548-7522 (ext. 152)

Email:	stephen@titanmedicalinc.com
Website:	www.titanmedicalinc.com

 

Item 9 Date of Report

April 29, 2020

SCHEDULE “A”

See attached news release.