MACH7 TECHNOLOGIES LIMITED — Capital/Financing Update 2020

Jun 30, 2020

ASX Announcement

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Results of Retail Entitlement Offer

Melbourne, Australia; 1 July 2020: Mach7 Technologies Limited (“Mach7” or the “Company”) (ASX:M7T), a company specialising in innovative medical imaging data management solutions for healthcare providers, today announced the results for the retail component of the Entitlement Offer.

On 10 June 2020, the Company announced it is undertaking a fully underwritten capital raising of $34.8 million via an institutional placement to raise approximately $3.7 million (Placement) and a 1 for 4 pro-rata accelerated non-renounceable entitlement offer of approximately $31.1 million (Entitlement Offer). All shares under the Placement and Entitlement Offer will be issued at a fixed price of $0.68 per share and will rank equally with existing Mach7 shares on issue.

On 12 June 2020, the Company announced it had successfully raised a total of $23.4 million under the Placement and institutional component of the Entitlement Offer (Institutional Raise).

Today, the Company confirms it has raised a further $11.4 million under the retail component of the Entitlement Offer (Retail Entitlement Offer) and will issue 16,794,848 shares (New Shares) at $0.68 per share. The Company received applications from eligible retail shareholders under the Entitlement Offer (including applications for up to 50% of each applicant’s entitlement in additional New Shares in the shortfall facility) of 15,555,413 New Shares at $0.68 per New Share ($10.7 million). The Board, in its discretion, has accepted all applications from eligible retail shareholders. In accordance with the underwriting agreement between Mach7 and Morgans Corporate Limited (Morgans), Morgans will subscribe for, or procure subscriptions for, the remaining 1,239,435 New Shares ($0.7 million) under the shortfall.

The Company has now raised a total of $34.8 million (before costs) under the Retail Entitlement Offer and the Institutional Raise combined. The Company will use these funds, together with a portion of its existing cash reserves, to acquire the shares in Client Outlook Inc – as announced to the ASX on 10 June 2020.

Commenting on the completed capital raise Mach7 Technologies CEO, Mike Lampron, said: “We are grateful for the strong support from our retail shareholders, together with our new and existing institutional investors, in this raise. We will now complete the acquisition of Client Outlook and focus on delivering our growth potential, improving patient outcomes, and service delivery for our healthcare customers.”

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ASX Announcement

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The issue of the New Shares under the retail component of the Entitlement Offer is expected to occur on Friday, 3 July 2020. Trading in the New Shares is expected to commence on ASX on a normal settlement basis on Monday, 6 July 2020. The New Shares to be issued under the retail component of the Entitlement Offer will rank equally with existing Mach7 shares on issue.

About Mach7 Technologies:

Mach7 Technologies (ASX:M7T) develops innovative data management solutions that create a clear and complete view of the patient to inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes. Mach7’s awardwinning enterprise imaging platform provides a vendor neutral foundation for unstructured data consolidation and communication to power interoperability and enables healthcare enterprises to build their best-of-breed clinical ecosystems. Mach7’s sophisticated workflow tools, advanced clinical viewing and optimized vendor neutral archiving solutions unlock silos of legacy systems empowering healthcare providers to own, access and share patient data without boundaries. Visit Mach7t.com.

This announcement has been approved for lodgement by the Managing Director and Company Secretary.

For more information, contact :

Jenni Pilcher CFO, Company Secretary, Mach7 jenni.pilcher@mach7t.com

Andrew Keys Registered Office: Investor Relations Level 2, 20 Collins Street andrew.keys@keysthomas.com Melbourne, 3000

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