MACH7 TECHNOLOGIES LIMITED — Capital/Financing Update 2020

Jun 9, 2020

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10 June 2020

ASX Announcement

ASX Company Announcements Platform

NOTIFICATION UNDER SECTION 708AA(2)(f) OF THE CORPORATIONS ACT 2001 (Cth)

This notice is given by Mach7 Technologies Limited ACN 007 817 192 (ASX:M7T) ( Company ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) as notionally modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84 ( ASIC Instrument ).

The Company announced on 10 June 2020 a pro-rata accelerated non-renounceable entitlement offer ( Entitlement Offer ) of 1 fully paid ordinary share in the Company ( New Shares ) for every 4 ordinary shares in the Company held at 7.00pm (AEST) on Friday, 12 June 2020 by shareholders of the Company with a registered address in Australia or New Zealand ( Eligible Shareholders ).

A retail entitlement offer booklet is expected to be dispatched to eligible retail shareholders on Wednesday, 17 June 2020.

The Company confirms that:

1. the New Shares will be offered for issue without disclosure to investors under Part 6D.2 of the Corporations Act;

2. this notice is being given under section 708AA(2)(f) of the Corporations Act, as modified by the ASIC Instrument;

3. as at the date of this notice, the Company has complied with:

   • (a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • (b) section 674 of the Corporations Act;

4. as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act that is required to be set out in this notice under section 708AA(7) of the Corporations Act; and

5. the potential effect the issue of New Shares under the Entitlement Offer will have on the control of the Company, and the consequences of that effect, will depend on a number of factors, including investor demand, existing shareholdings and the extent to

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which Eligible Shareholders take up their entitlements under the Entitlement Offer. However, having regard to the terms of the Entitlement Offer as a pro-rata issue, the underwriting and sub-underwriting arrangements in place for the Entitlement Offer and the nature of the underwriters and sub-underwriters, at this time, the Company does not expect that any person will increase their percentage shareholding in the Company in a way which will have a material impact on the control of the Company and does not expect any material consequences to flow from that.

This notice has been authorised for release to ASX by the Board of Directors of the Company. Yours faithfully,

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Jenni Pilcher Company Secretary Mach7 Technologies Limited

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