MACH7 TECHNOLOGIES LIMITED — Capital/Financing Update 2021

May 5, 2021

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ASX Announcement

University of Vermont Medical Center Expands its Relationship with Mach7 by Choosing the eUnity Viewer

Highlights:

• Five-year subscription (SaaS) deal with UVM for the eUnity viewer

• UVM become Mach7’s 15th customer to use both Mach7 Platform and eUnity viewer solution

• YTD FY21 contract sales values now $25M, 92% growth on FY20

Melbourne, Australia; 6 May 2021 : Mach7 Technologies Limited (“Mach7” or the “Company”) (ASX:M7T), a company specialising in innovative medical imaging solutions for healthcare providers, today announced it has signed a statement of work with University of Vermont Medical Center (UVM) for the license of its eUnity diagnostic viewing technology.

UVM previously purchased a license to the Mach7 Enterprise Imaging Platform (EIP) in 2017. The Mach7 EIP includes both a vendor neutral archive (VNA) to store imaging data and a communication workflow engine to move data where and when it is needed. Today, this solution serves as the central hub for UVM’s imaging ecosystem by enabling the consolidation of all imaging and managing their diverse departmental and enterprise workflows.

UVM was looking for a performant, universal zero-footprint enterprise viewing solution to image enable their EMR. Mach7’s eUnity was chosen because it met all of these requirements and because of UVM’s existing positive relationship with the Company. The eUnity zerofootprint diagnostic viewer will be fully integrated with the Mach7 Enterprise Imaging Platform, giving the customer a complete, end-to-end enterprise imaging solution.

UVM have purchased a subscription license to eUnity, which will generate an additional $730,000 of subscription fee revenue over five years for Mach7, with potential upside if contractual minimum annual imaging procedure volumes are exceeded. This represents an important step in Mach7’s desire to transition to a revenue model that is more heavily subscription-based. The contract will generate >90% gross margins, and as a subscriptionbased deal, will contribute monthly to both cash and revenue.

This contract takes the total year-to-date sales value to $25M, which is almost double the sales value Mach7 achieved for the whole of FY20 ($13M). Mach7 has more than 130 customers utilizing its data management platform and/or eUnity viewing solution, with only

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Mach7 Technologies Limited ABN 26 007 817 192 ASX:M7T

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ASX Announcement

12% of its customer base currently using both solutions. Growth in multi-solution customers represents a large, multi-million dollar, cross-sales opportunity.

Mike Lampron, CEO and Managing Director, commented, "UVM is a staple Vermont institution, so I am thrilled that they have chosen Mach7's eUnity to serve as their universal enterprise diagnostic viewer. The potent combination of Mach7's enterprise data management solution and eUnity will suit UVM's data management, workflow and enterprise diagnostic viewing needs now and adapt as their needs evolve. This is another great example of how the Mach7 enterprise data management solution and the eUnity enterprise diagnostic viewer (recently acquired from Client Outlook) can provide large healthcare providers with a fully integrated, end-to-end, enterprise image management solution."

About University of Vermont Medical Center

UVM Medical Center is a large academic teaching hospital and is the largest employer in the state of Vermont. Based in Burlington, UVM serves a population of over 1 million with 144 patient care sites across Vermont and northern New York. The UVM Medical Center provides a full range of tertiary-level inpatient and outpatient services and provides primary care services at 10 Vermont and New York locations. Additionally, they are home to the UVM Children’s Hospital, a full-service hospital within a hospital that was named to U.S. News & World Report’s Best Children’s Hospitals list for 2012-2013.

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

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 award-winning enterprise imaging platform provides a vendor neutral foundation for unstructured data consolidation and communication to power interoperability and enables healthcare enterprises to build their bestof-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.

For more information, contact:

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

Andrew Keys Investor Relations andrew.keys@keysthomas.com

Registered Office: Tower 4 | 727 Collins Street Docklands, 3008

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Mach7 Technologies Limited ABN 26 007 817 192 ASX:M7T