CHALLENGER LIMITED — Major Shareholding Notification 2011

1 Septemb e r 2011

The Manager Company A nnouncements Office ASX Limite d 20 Bridge S treet

==> picture [7 x 42] intentionally omitted <==

==> picture [55 x 42] intentionally omitted <==

==> picture [54 x 42] intentionally omitted <==

==> picture [55 x 42] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [53 x 59] intentionally omitted <==

Sydney

Level 15 , 255 Pitt Street Sydney N SW 2000 Aus t ralia GPO Bo x 3698 Sydney N SW 2001 www.ch a llenger.com.au Telepho n e 02 9994 700 0 Facsimil e 02 9994 7777

SYDNEY N SW 2000

By electron i c lodgemen t

Dear Sir

Re: Notice of change of interests of substantial holder ~ Medical Developments International Limited (MVP)

We enclos e notice of c h ange of interests of sub s tantial hold e r in Medical Developm e nts Internati o nal Limited. Th i s notice is given by Cha l lenger Limit e d and each of its subsi d iaries nam e d in Annexure 1 to this notice.

Yours faithfully

==> picture [7 x 39] intentionally omitted <==

==> picture [55 x 39] intentionally omitted <==

==> picture [55 x 39] intentionally omitted <==

==> picture [55 x 39] intentionally omitted <==

==> picture [4 x 39] intentionally omitted <==

Suzie Koeppenkastrop Company S ecretary

attach

Melbourne Le v el 33, 101 Collin s Street PO Box 2 97, Flinders Lan e , Melbourne VIC 3000 Telephone 02 9994 7000 Faccsimile 02 9994 7777 Brisbane Le v el 7, 320 Adelai d e Street GPO Box 3234, Brisbane QLD 4001 Telep h one 07 3136 54 0 0 Facsimile 07 31136 5407 Perth Le v el 2, 168 St Geor g es Terrace PO B o x Z5065, St Geor g es Terrace, Perth W A 6831 Telepho n e 08 9261 7412 FFacsimile 08 9241 0 571 Adelaide Le v el 3, 97 Pirie Stre e t Adelaide SA 50 0 0 Telephone 08 7 1 29 4402 Facsimil e 08 8232 4446 Challenger Limit e d ABN 85 106 84 2 371 Challenger G roup Services Pty Limited ABN 91 0 8 5 657 307 Challenger Life Company Limited A B N 44 072 486 93 8 AFSL 234670 C hallenger Comm e rcial Lending Limited ABN 65 000 0333 143 Challenger Mana g ed Investments Limited ABN 94 00 2 835 592 AFSL 2 3 4668 Challenger Listed Investment s Limited ABN 94 0055 293 644 AFSL 236 887 CIF Investment Trust 1 ARSN 114 139 703 CIF Inves t ment Trust 2 ARS N 114 139 632 C h allenger Wine Tru s t ARSN 092 960 0060 Challenger Diver s ified Property Tru s t 1 ARSN 121 48 4 606 Challenger D iversified Propert y Trust 2 ARSN 121 484 713 Challenger Mana g ement Services L imited ABN 29 09 2 382 842 AFSL 2 3 4 678 Challenger Retir e ment Services Pty Limited ABN 80 1 1 5 534 453 AFSL 2 95642 RSE Licen c e No. L0001304 Challenger Mort g age Manageme n t Pty Ltd ABN 72 087 271 109 Ch a llenger Securitisation Manageme n t Pty Ltd ABN 56 100 346 898 AF S L 244593 Challenger Inve s tment Services Limited ABN 44 119 605 373 AFSL 3 20505

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company name/Scheme Medical Developments International Limited

ACN/ARSN 106 340 667

1. Details of substantial holder (1)

Name Challenger Limited (and the entities listed in Annexure 1)

ACN/ARSN (if applicable) 106 842 371

There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated

30.08.2011 13.11.2009 13.11.2009

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

6. Addresses

The addresses of persons named in this form are as follows:

ASX\20110901 ASIC Form 604.docx

604 page 2/2 15 July 2001

 Signature

Company Secretary

print name

capacity

Suzie Koeppenkastrop

==> picture [172 x 39] intentionally omitted <==

date 01/09/2011

ASX\20110901 ASIC Form 604.docx

Annexure 1

This is page 1 of 4 pages of Annexure 1 referred to in Form 604 signed by me and dated 01/09/2011

==> picture [180 x 38] intentionally omitted <==

Suzie Koeppenkastrop

Company Secretary

Annexure 1

This is page 2 of 4 pages of Annexure 1 referred to in Form 604 signed by me and dated 01/09/2011

==> picture [180 x 39] intentionally omitted <==

Suzie Koeppenkastrop

Company Secretary

Annexure 1

This is page 3 of 4 pages of Annexure 1 referred to in Form 604 signed by me and dated 01/09/2011

==> picture [180 x 39] intentionally omitted <==

Suzie Koeppenkastrop Company Secretary

Overseas Companies Appia Europe Limited Appia Finance 2 Limited Appia Finance Limited Appia Group Limited (Jersey) Appia Investments Limited CDPG Luxembourg Holdings SARL CDPG Luxembourg II SARL CDPG Luxembuorg SARL CDPG Malta Limited Challenger Connections Limited Challenger Connections Mid Company Limited Challenger DPG France II SAS Challenger DPG France SAS Challenger Group Services (UK) Limited Challenger Harbourmasters Holdings Jersey Limited Challenger Holding (Vagyonkezelo) KFT Challenger Hungary International Capital Investment and Management Ltd Liability Company Challenger Jersey I3 Limited Challenger Jersey Management Limited Challenger Jersey Trustee Limited Challenger LBC Terminals Holding Company Limited Challenger LBC Terminals Jersey Limited Challenger LBC Terminals Limited Challenger Life (UK) Limited Challenger Luxembourg Holding No. 1A SARL Challenger Luxembourg Holding No. 1B SARL Challenger Luxembourg Holding No. 2 SARL Challenger Management Services (UK) Limited Challenger MBK Emerging Market Infrastructure Fund Pte. Ltd Challenger MBK Fund Management Pte. Ltd Challenger Northern Gas Ltd (Jersey) Challenger SCR LLP Member Limited Challenger SkyBridge Fund (LP) Limited Challenger SkyBridge Fund (SLP) Limited Challenger Southern Water Limited Challenger Structured Credit Management Limited

Annexure 1

This is page 4 of 4 pages of Annexure 1 referred to in Form 604 signed by me and dated 01/09/2011

==> picture [180 x 38] intentionally omitted <==

Suzie Koeppenkastrop

Company Secretary

Overseas Companies Challenger Towers Ltd (Jersey) Challenger UK Tank Storage Limited Challenger UK Terminals Ltd Challenger Wales and the West Gas Ltd (Jersey) Challenger Welcome Break Limited Clashfern Investments (UK) Limited CMS (UK) Pty Limited GasValpo Jersey Holding Company Limited Greensands Holdings Jersey Limited GV Cayman Company Limited GV Chile Holding Limitada GV Chile Limitada GV Jersey Trustee Company Limited GV Jersey Trustee Company No. 2 Limited Inexus Group Holdings Inexus Group Limited Interstar Home Loan Corporation NZ Limited (Foreign) Kabushiki Kaisha C & K Lazor Mangro Namroc Oikos Limited Oikos Storage Limited Rozal Rozalia Park Sabrand Limited SCI Aulnay Invest SCI Gennevilliers Invest Structured Credit Research LLP

Annexure 2

This is page 1 of 1 page of Annexure 2 referred to in Form 604 signed by me and dated

01/09/2011

==> picture [110 x 25] intentionally omitted <==

Suzie Koeppenkastrop

Annexure 2 Document

Transactions: Medical Developments International Limited (MVP) Ordinary Fully Paid As at 30/08/2011