MACH7 TECHNOLOGIES LIMITED — Investor Presentation 2016

Oct 11, 2016

ASX Announcement

12 October 2016

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COMPANY UPDATE

Melbourne, Australia: Mach7 Technologies Limited ( Mach7 or the Company ) (ASX: M7T ), a leader in the global enterprise imaging market, is pleased to release a new investor presentation which is attached to this announcement. The presentation outlines Mach7’s near term milestones.

INVESTMENT HIGHLIGHTS

• Significant first mover advantage in managing digital medical images with proprietary platform already handling >1 billion images

• Valuable 100%-owned IP portfolio comprising enterprise imaging technology and a suite of complementary medical tools

• Validated market demand with 46 blue chip customers across ~500 sites in 11 countries

• Proven execution with track record of strong double-digit revenue growth and secure long-term contracts

• Focused strategy to achieve cash flow break even in 2017

• Top tier board and management team with strong founder ownership and involvement

About Mach7 Technologies:

Mach7 Technologies (ASX:M7T) develops innovative enterprise imaging IT 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 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 www.mach7t.com.

Mach7’s wholly-owned subsidiary, 3D Medical Limited, provides medical specific 3D printing and is an exclusive distributor of various synergistic technologies including holographic projection. 3D Medical’s innovative products leverage data already captured by conventional imaging modalities and apply it in more meaningful ways to deliver improved economic and patient outcomes. Visit www.3dmedical.com.au

Contacts:

Albert Liong Jenni Pilcher Julia Vaughn CEO CEO Australia, CFO Investor Relations (U.S.) +1 650 743 0167 (U.S.) +61 3 9646 2222 (Australia) +1 802 768 0143 (U.S.) albert.liong@mach7t.com jenni.pilcher@mach7t.com Julia.vaughn@mach7t.com

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Copyright © 2013 Mach7 Technologies

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INVESTMENT HIGHLIGHTS

Mach7 Technologies is a revenue stage company with a rapidly expanding global customer base

• Significant first mover advantage in managing digital medical images with proprietary platform already handling >1 billion images

• Valuable 100%-owned IP portfolio comprising enterprise imaging technology and a suite of complementary medical tools

• Validated market demand with 46 blue chip customers across ~500 sites in 11 countries

• Proven execution with track record of strong double-digit revenue growth and secure long-term contracts

• Focused strategy to achieve cash flow break even in 2017

• Top tier board and management team with strong founder ownership and involvement

COMPANY OVERVIEW

Mach7’s merger with 3D Medical created a scalable technology company

Financial information ($A)

Financial information ($A)
Share price (7-Oct-16)	$0.051
Number of shares (m)1,2,3	954.4
Market Capitalisation	$48.7m
Cash (30-Sep-16)	$1.8m
Debt (30-Sep-16)	$2.9m
Enterprise value $49.9m

Top shareholders

#shares(m) % Top shareholders
BV Healthcare II_(BioVeda Capital)_	80.5	8.6%
Ravindran Krishnan_(Mach7 Founder, COO)_	57.8	6.1%
PT Dwi Satrya Utama	47.3	5.0%
United Overseas Venture Sdn Bhd	46.7	5.0%

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Share price (Acs)
Post completion of merger with 3D Medical
10
8 1
4
6 3
2
7
4 6
5
2
Oct-15 Dec-15 Feb-16 Apr-16 Jun-16 Aug-16
1: 26-Oct-15 3D Medical and Mach7 Technologies enter Merger Agreement
2: 8-Mar-16 5-year licence agreement signed with leading US medical centre
3: 8-Apr-16 Merger completed, new board appointments
4: 6-May-16 EIP implementation completed at a leading US radiology group
5: 18-Aug-16 7-year software licence deal signed with MaineHealth,
guaranteed minimum value of $3.8m, potential up to $5.5m
6: 6-Sep-16 Completed major implementation in Qatar where minimum
contract value is $2m plus ongoing annual support
7: 5-Oct-16 Partnered with Microsoft to bring enterprise imaging to the cloud;
signed first cloud customer
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1. Includes 500.7m shares escrowed to various dates in 2017

2. Excludes 300m unlisted performance shares

3. Excludes 49.9m unlisted options

Copyright © 2013 Mach7 Technologies

BOARD AND MANAGEMENT

Strong founder involvement with proven Board and management team

Board

Damien Lim

Non-Executive Chairman

• 21+ years experience in private equity and investment banking

• Co-founder of BioVeda Capital

• Currently serves on a number of boards and advisory committees

Nobuhiko Ito

Non-Executive Director

• Adviser to TPG Capital Japan, Director of Konica Minolta Business Solutions and Tadano Ltd

• Former President and CEO of GE Japan

• Executive with Exxon Chemical Japan for 16 years

Dr Nigel Finch

Non-Executive Director

• Principal at Saki Partners Transaction Advisers

• Director and senior

• management experience in strategy execution and financial management

Wayne Spittle

Non-Executive Director

• Extensive industry experience in the global healthcare sector

• Currently consultant at Samsung Medison and Advisor at Novum Waves

• Former Executive VP with Samsung Medison and Health and Medical Equipment

Management

Albert Liong

Managing Director and CEO

• 20+ years experience in financial management and strategic planning

• Previously held executive roles in private and public software and IT companies

Eric Rice

CTO

• 20 years of systems architecture and design, engineering and management experience

• Held leadership roles and designed solutions for GE Healthcare

Jenni Pilcher

Global CFO and CEO, Australia Operations

• Executive experience in healthcare

• Former CFO of Alchemia, and CFO and Co-Sec of Mesoblast

• Worked in finance teams at Cadbury and Medeva plc

Ravi Krishnan

COO and Founder

• Founding partner of Mach7 Technologies

• Nearly 20 years of experience with technology intricacies that drive medical imaging

• Previously worked at GE Healthcare and Agfa Healthcare

KEY FY16 FINANCIALS

Pro-forma financials demonstrate strong traction

Profit & loss (pro-forma) FY16 (US$) FY16 (A$)	Profit & loss (pro-forma) FY16 (US$) FY16 (A$)	Profit & loss (pro-forma) FY16 (US$) FY16 (A$)
Revenue Cost of sales	$4.2m	$5.8m
	$0.5m	$0.7m
Gross Profit	$3.7m	$5.2m
EBITDA ($6.2m) ($8.5m)

• Pro-forma revenue was A$5.8m, which reflects what the group would have earned if the acquisition of Mach7 Enterprise Imaging Platform had been effective from 1 July 2015 (acquisition effective 1 April 2016)

• Pro-forma EBITDA excludes share-based payments expense

• FY = 1 July to 30 June

Balance sheet FY16 (US$) FY16 (A$*)	Balance sheet FY16 (US$) FY16 (A$*)	Balance sheet FY16 (US$) FY16 (A$*)
Cash Receivables/prepayments Intangible assets and goodwill	$1.3m	$1.7m
	$2.0m	$2.7m
	$25.9m	$35.6m
Total assets $29.7m $40.8m Payables $0.9m $1.2m Deferred revenue $1.7m $2.4m Interest bearing liabilities $2.2m $3.2m Total liabilities $12.6m $17.3m
	$12.6m	$17.3m
Net assets $17.1m $23.5m
Net tangible liabilities $1.6m $2.2m

*audited

• Cash balance at the end of the period was A$1.7m

• $35.6m of intangible assets and goodwill relates to the acquisition of Mach7

• Interest bearing liabilities include three loans from original investors in the Mach7 Group (A$2.9m) and a finance lease (A$0.3m)

THE PROBLEM

Lack of interoperability of current systems prevents optimal patient care outcomes and increases healthcare costs

Current market state

Problems with current Electronic Health Record Systems[1]

• Picture Archiving Communication Systems (PACS) and Vendor Neutral Archive (VNA) are the current industry standards for storing data and presenting data within health care facilities

• However, these systems do not provide complete interoperability

• Data is still contained in departmental silos with disparate systems that restrict the ability for a patient’s medical record to be seen with completeness

Problems

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Lack of interoperability 46%
Viewers do not work 10%
Not enough vendor support 9%
Data security 5%
Too much downtime 3%
Other 27%
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• 46%[1] of specialists cite lack of interoperability as a key problem with storage systems

• 52%[1] of specialists believe this problem negatively impacts patient care outcomes

• 36%[1] of providers believe they have lost revenue due to image access challenges

As a response to these problems, the preferred investment for imaging related technology over the next 12 months is expected to be Enterprise Viewers, rather than PACS or VNA

Preferred investment in alternatives[1,2]

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Enterprise Viewer 44%
PACS 40%
Vendor Neutral Archive 39%
Clinical Decision Support 27%
Image Exchange System 25%
RIS 16%
Analytics 15%
Workflow 9%
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1. Sourced from CHIME, lifeImage CEO Perspectives on Enterprise Imaging study using data collected from 100 participating facilities

2. Over the next 12 months. Facilities may invest in more than one alternative, hence percentages do not sum to 100%. Copyright © 2013 Mach7 Technologies

THE SOLUTION

Mach7 Enterprise Imaging Platform is a flexible and scalable solution that allows images and data to be easily shared, improving workflows and patient care outcomes

• Mach7 Enterprise Imaging Platform is best-inclass software

• Platform simplifies the access and sharing of diagnostic images and patient care data

• Enables improved clinical workflow and patient care outcomes

• Unique competitive advantages

• Innovative platform with intuitive, pointand-click interface and real-time monitoring dashboard

• Proprietary technology that intelligently brings together multiple image formats into a cohesive workflow

• Scalable software that grows with the customer

• Cloud offering and medical image archiving system reduces IT expense for customers

• Highly recommended by customers and industry

Physician & Easy Procedure tracking, Patient Portals Telehealth / monitoring and sharing Teleradiology Rapid delivery Health of patient data Information across the Exchanges enterprise Smart Enterprise Device/Mobile Connectivity Image Acquisition Regional Patient Easy Access and Data Sharing of Patient Routing/Sharing Labs and Health Referring Physician / Access to “Priors” Data Clinician Information and Complete Sharing Patient Histories

• Worldwide presence with regional support

SALES EXECUTION

Clear market demand with recent strategic initiatives driving more consistent cash flows in line with long term strategy

• Growing service and annual revenue demonstrating clear product-market fit

• Increasing number of subscription and pay-per-use contracts driven by our entrance into the image sharing market and launch of our cloud based solutions

• Recent initiatives expected to reduce dependency on traditional capital license model and improve the revenue mix to deliver shorter sales cycles, stronger recurring revenue and improved financial predictability

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Revenue (US$m), 31 December year end [1]
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Outlook for Q4

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Q3 YTD
5.7
only
4.2 4.4
2.3
2013 2014 2015 2016
Calender Year
Software licence Annual support contracts Professional service Series4
USDm
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• Strong pipeline and active tenders expected to deliver new contracts

• Implementation fees recognised for 2016 new contracts

• Existing contracted support & maintenance revenues continue to be generated

• Software includes third party software and hardware, other revenue and intercompany sales

SALES CYCLE

Mach7 is shortening the sales cycle while winning 86% of bids at the vendor selection stage

Mach7 is reducing the cost and time to sale through a combination of unique patented technologies, a maturing market and investment in marketing

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Relationship
Sale Development
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Sales Cycle
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Vendor Selection
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For 2014 and 2015 Mach7 won 86% of opportunities at this stage

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Opportunity
Identification
Request for
Proposal
(RFP)
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As the market continues to mature, Mach7’s unique patented technology and refreshed market messaging will support a reduction of RFPs and therefore cost and time to sale

Via increased investment in marketing and brand-to-solution recognition, relationship management is expected to become less critical in the sales process and thereby reduce the cost and time to sale

CUSTOMER EVOLUTION

Mach7’s global customer base is progressing from earlier adopters towards significantly larger mid-market

499

Installed sites, across…

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11

• Countries

46

• Unique customers, comprising…

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33

• Hospital

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8 Imaging centres

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5 Others (eg. Telstra)

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Early customers – academic medical centres and large integrated delivery networks

Mid-market opportunities – mid-market adoption of VNA technology increasingly dominating Mach7’s customer focus

TECHNOLOGY AND INTELLECTUAL PROPERTY

Mach7’s 100%-owned proprietary technology supports a scalable platform managing >1 billion medical images

Mach7 Enterprise Imaging Platform

Intellectual property portfolio

Proprietary digital image management system

• Substantial technology advantage

Mach7 gives access to a product suite of complementary medical tools that provide value-add opportunities and direct synergies

• In-house developed clinical tool, enabling patient data access across a health system’s network of providers, clinical users and patients

Platform architecture drives data-sharing and workflow efficiencies

• Complete image management, including rapid record identification, integration, synchronisation, routing and advanced clinical viewing

 Provides 3D printed models and implants as visual aids  Relevant in pre-surgical planning/training

• Enhanced workflow efficiencies and improved outcomes

Scalable plug-and-play solution

 Unique image viewing technology  Improves surgical speed, hygiene and accuracy

• Plug-and-play solution with the ability to scale

• Tailored to facility size with the capacity to expand

• Complementary products can be plugged into the platform, providing a best-of-breed diagnostic imaging solution

• Holographic projection technology

• Unique evaluation tool

MARKET OPPORTUNITY

Mach7 has a US$3.8 billion+ addressable market with the ability to compete across numerous market segments

Mach7 market opportunity

Conversion to an enterprise imaging based platform

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Initial target markets are the VNA, Departmental and Enterprise PACS segments (US$3.8 billion+)

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VNA
(US$736m
by 2020) [2]
Enterprise PACS
Departmental PACS
(US$440m by
(US$2.7bn by 2018) [1]
2018) [1]
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• Growth in mobile usage and healthcare “Big Data” is driving increased engagement with digital imaging technology

• Through its scalable platform, Mach7 is able to successfully target multiple segments of the growing digital medical image market

Healthcare providers are increasingly converting to VNA platforms , as current-generation PACS technology is rapidly becoming redundant due to limited and aging technology

Image management systems have evolved from first generation departmental based PACS of the 1990s – 2000s to today’s VNA technology

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1990
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 Clinician driven

PACS 1.0

• Storage silos

• DICOM media only

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2000
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• Storage silos

PACS 2.0

• DICOM media only

• Thin clients

• Enhanced workflows

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2010
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• Difficult to migrate systems

 Consolidated storage

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VNA
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• Improved engine for workflow efficiency

• Simplified EMR enablement, improved image distribution

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2020
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• DICOM and non-DICOM media

• Simple to migrate systems

• Best-of-breed visualisation support

• Markets and Markets: 2013 VNA and PACS Market Report

• IHS Technology, Medical Enterprise Data Storage, 2015

INDUSTRY LEADER

Since its launch in 2012, Mach7 is recognised with various industry awards and accolades

“Mach7 has been a cost effective solution for “Our PACS vendors all Broward … We have better control of the data proposed schemes to at a lower cost and high availability to improve workflow and leverage solutions that aren’t proprietary.” imaging access, but we needed a more powerful, Ronaldo Montmann newer archive and communication system to VP of Information Technology, Broward Health help us with data flows. Mach7 will give us so much more power because it can deal with “ No.1 Leader, US Healthcare Provider all types of image data VNA/AICA Unstructured Data Platforms for sets. That is what we need .” Integrated Care ” – IDC MarketScape (2016) David Marichal “ Asia Pacific Medical Imaging Informatics CTO, Radiology and Company of the Year ” – Frost & Sullivan (2015) Imaging Specialists

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Mach7

Source: IDC, 2016

GROWTH DRIVERS

Mid-market penetration and ongoing product development will drive near term growth

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Shift towards platform technology

• Increased usage of vendor neutral technology expected to see double digit growth in medical image management over the next two years in the US

• Mach7 technology is at the forefront of the paradigm shift and well placed to win new contracts

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Strong revenue growth

• Focus on targeting mid-market customers and generating additional revenue streams

• Expected to update the market on contract wins from multiple new small to mid-sized customers, together with sales pipeline of traditional large enterprise customers

• Strong increase from existing clients expected following product line expansion

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Sector and geographic expansion

• Focused marketing strategy targeting academic medical centres, regional imaging centres and medium to large hospitals

• Expand geographic reach through targeted reseller arrangements

• Focus on developing strong healthcare integrated delivery networks (IDNs)

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Continued innovation

• Continued investment in product development and technology

• Expansion of product offering as customer base grows and develops

• Ongoing R&D against planned technology and solution roadmap

STRATEGIC VISION

Long term strategy focused on building an innovative and industry leading digital health technology company

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Technology and intellectual property

Continued investment in technology and intellectual property development

Market share growth

Focus on increasing market share in North America with deeper penetration in hospital groups and networks while growing existing customer mandates

Cloud based solutions

Entry into cloud based solutions and offerings with an expanded product portfolio that goes beyond onsite installations

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Sales and marketing

Focused sales and marketing strategy directed at mid-market new customers, building the Mach7 brand and domain recognition

Geographical reach

Increasing presence and customer install base outside of the North American market through targeted reseller arrangements

DISCLAIMER

Summary of information: This presentation contains general and background information about Mach7 Technologies Limited (“ M7T ”) activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information that an investor should consider when making an investment decision. This presentation is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law or under any other law. The presentation does not purport to contain all the information that a prospective investor may require in assessing a possible investment in M7T nor does it contain all the information which would be required in a prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth). The information provided is in summary form, has not been independently verified, and should not be considered to be comprehensive or complete. It should be read solely in conjunction with the oral briefing provided by M7T and all other documents provided to you by M7T. The information in this presentation remains subject to change without notice. M7T is not responsible for providing updated information and assumes no responsibility to do so.

Not financial product advice: This financial information provided in this presentation is for information purposes only. The information contained in this presentation is of a general nature only and is not a financial product, investment advice or a recommendation to acquire M7T securities and has been prepared without taking into account the objectives, financial situation or needs of any person or entity. Before making an investment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. M7T is not licensed to provide financial product advice in respect of its securities or and other financial products. Cooling off rights do not apply to the acquisition of M7T securities. M7T assumes that the recipient is capable of making its own independent assessment, without reliance on this document, of the information and potential investment and will conduct its own investigation.

Disclaimer: M7T and its related bodies corporate and each of their respective directors, agents, officers, employees and advisors expressly disclaim, to the maximum extent permitted by the law, all abilities (however, caused, including negligence) in respect of, make no representations regarding, and take no responsibility for, any part of this presentation and make no representation or warranty as to the currency, accuracy, reliability or completeness of any information, statements, opinions, conclusions or representations contained in this presentation. In particular, this presentation does not constitute, and shall not be relied upon as, a promise, representation, warranty or guarantee as to the past, present or future performance of M7T.

Future performance: This presentation contains certain forward-looking statements and opinions. The forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of M7T. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast.

Risks: An investment in M7T securities is subject to investment and other known and unknown risks, some of which are beyond the control of M7T. You should have regard to the ‘Key Risks’ section of this presentation which outlines some of these risks.

Not an offer: This presentation is not, and should not be considered as, an offer or an invitation to acquire securities in M7T or any other financial products and neither this document nor any of its contents will form the basis of any contract or commitment. This presentation is not a prospectus. Offers of securities in M7T will only be made in places which, or to persons to whom it would be lawful to make such offers. This presentation must not be disclosed to any other party and does not carry any right of publication. Neither this presentation nor any of its contents may be reproduced or used for any other purpose without the prior written consent of M7T.

No distribution in the US: This presentation is not an offer of securities for sale in the United States. Any securities to be issued by M7T have not been and will not be registered under the US Securities Act of 1933, as amended (the “US Securities Act”) and may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act. No public offer of the securities is being made in the United States and the information contained herein does not constitute an offer of securities for sale in the United States. This presentation is not for distribution directly or indirectly in or into the United States or to US persons.

Monetary values: Unless otherwise stated, all dollar values are in Australian dollars (AUD$). The information in this presentation remains subject to change without notice.

Sophisticated and professional investor: By attending this presentation, you present and warrant that (i) if you are in Australia, you are a person to whom an offer of securities may be made without a disclosure document as defined in the Corporation Act 2001 (Cth) (“Corporation Act”)) on the basis that you are exempt from the disclosure requirements of Part 6D.2 in accordance with Section 708(8) or 708(11) of the Corporations Act; (ii) if you are in the United States, you are a qualified institutional buyer (as defined under Rule 144A Under the U.S. Securities Act; (iii) if you are outside Australia and the United States, you are a person to whom an offer and issue of securities can be made outside Australia without registration, lodgement or approval of a formal disclosure document or other filing in accordance with the laws of that foreign jurisdiction. If you are not such a person, you are not entitled to attend this presentation. Please return this presentation and any copies and do not provide this presentation to any other person.

No distribution: Distribution of this presentation may be restricted by law. Persons who come into possession of this presentation should seek advice on and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable security laws.