MACH7 TECHNOLOGIES LIMITED — AGM Information 2009

Nov 29, 2009

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ANNUAL GENERAL MEETING Monday 30[th] November 2009

Chairman’s Address

Welcome fellow shareholders to the Safety Medical Products Annual General Meeting for 2009.

The past twelve months has certainly been a very interesting and challenging period for the company, as it has for many others throughout the world.

Despite this, SafetyMed has managed to achieve several significant goals including,

• A move into the retail consumer feminine hygiene market with the launch of the first range of sterilised tampons, pads and liners in Australia.

• The sale of one of the company’s businesses, Bagot Press

• A major new strategic alliance with the largest medical products manufacturer and supplier in Hungary.

• Group revenues of $5.8 million up from $4.88 million for the previous year.

Once again I would like to thank my fellow directors and all of our employees for the work carried out this year as well as our shareholders for their continued support.

Our Managing Director, John Riemelmoser will now present his report for the 200809 year and go into further detail about past achievements and future plans for the company.

John Darley Chairman Safety Medical Products Limited.

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ANNUAL GENERAL MEETING Monday 30[th] November 2009

Managing Director’s Address

Good morning Ladies and Gentlemen,

My name is John Riemelmoser, Managing Director of Safety Medical Products Limited.

On behalf of my fellow directors I would like to welcome you to our 2009 Annual General Meeting.

2008/2009 has been a very busy year once again with the company continuing to push our flagship product, the SecureTouch Retractable Syringe into markets around Australia.

Our main focus in the Australian Market remains the Federal Government Clean Needle program representing over 32 million units per year.

Whilst we still haven’t managed to crack this market yet, a recently completed study and cost benefit analysis by the University of New South Wales stated that for every dollar spent by the Government on the program, savings to the health system of up to five dollars are achieved.

The study also recommended that the program should be expanded even doubled as research suggested that 50% of needles are still being re-used.

We will continue to promote the SecureTouch as a realistic and economically viable alternative to the standard syringes currently used.

In December 2008, the Company announced that it had secured funding from the NAB for the launch of the Australia’s first range of sterilised Tampons, Pads and Liners under the Pureste brand.

The product range was launched in March 2009 with Woolworths as the cornerstone retailer as well as most major pharmacies and independent supermarkets stocking the products.

At the range review meeting in June, Woolworths informed us that they would no longer be stocking the product; however Coles came on board through 600 stores nationally.

Whilst sales haven’t been as high as anticipated since launch, the brand continues to grow and penetrate the market as consumers become more aware of its unique selling point.

The Pureste business brought with it a significant opportunity in that our Hungarian supplier also manufactures a huge range of disposable medical products.

Dispomedicor Zrt dominates the Hungarian medical products market and exports its products to several countries around the world.

SafetyMed has built a strong relationship with Dispomedicor over the last twelve months whilst building the Pureste business.

During this time Dispomedicor expressed a keen interest in the SafetyMed SecureTouch Retractable Syringe and the synergies that could be gained since both companies had such a similar product range.

In August, following a visit to their manufacturing facilities by Director Dr. Joseph Nicholas and myself, a letter of intent was signed in which our companies would form a joint venture entity to establish a new high volume state of the art manufacturing facility in Hungary.

This original proposal was to take the form of a new Hungarian based entity in which SafetyMed and Dispomedicor hold an equal share, with equity partners also sought to partly fund the project.

Further discussions have since taken place and a new arrangement has now been proposed whereby SafetyMed will have the opportunity to directly purchase up to a 40% stake in Dispomedicor.

This new arrangement has several significant advantages over the previous proposal and we have begun the due diligence process.

The potential new format will in no way affect the anticipated Hungarian Government support or that of the Hungarian Governmental Bank.

The Hungarian Government is totally committed to attracting “smart” industry to their country in an effort to provide long term highly skilled employment as well as create import replacement opportunities.

Hungary has ascended to be an active member of the European Union (EU), however has not yet fully qualified for Membership to the Economic and Monetary Union (EMU) and thus cannot adopt Euro Dollar conversion. Unemployment

reduction is one of the critical factors for the Hungarian Government to achieve in order to meet its self imposed Euro adoption deadline of 2012.

The Hungarian Government through its Investment and Trade Development Agency has already indicated the project could qualify for a 35% grant of the total project cost.

Dispomedicor has also had advanced discussions with the Hungarian Governmental Bank where potentially a further 60% of project funding would be provided if required.

Other significant incentives including tax breaks and employment subsidies are also available.

To be able to be part of a major business such as this in the heart of the second largest city in Hungary prior to their EMU membership should bring with it a host of other advantages once membership is attained.

It will enable SafetyMed to finally complete the full range of safety syringes as well as make available an extensive range of standard and other safety based devices with which to go to market.

It will also be a great opportunity for SafetyMed subsidiary, Procontrol systems to build a further three automated assembly systems for the SecureTouch to complete the range.

The company completed the sale of its subsidiary, Bagot Press Pty Ltd’s (currently known as ACN 100 073 121 Pty Ltd) business in July this year following a cash offer of $1.3 million which was a significant premium to what could otherwise be achieved in the open market.

This sale along with the new manufacturing business opportunity in Hungary will allow the company to focus on its core objective to bring the full range of its economical Safety Syringes to the world market.

The share purchase plan closing date has been extended to 6 December 2009, John Darley and I plan to take up their full entitlement under the plan.

I would like to thank our board and all employees across the group for their continued great efforts as well as our shareholders for their continued support.

Thank you for your interest and attendance today and I will now hand you back to the Chairman to continue with the formal business of the meeting.

John Riemelmoser

Managing Director and Chief Executive Officer