ASSET VISION CO LTD — Capital/Financing Update 2021

Dec 19, 2021

Level 11, 410 Collins Street Melbourne, Victoria Australia, 3000

www.futurefirsttech.io

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+61 3 9682 2699

20 DECEMBER 2021

ASX ANNOUNCEMENT

Future First Technologies raises $2.35m via Placement to Accelerate Growth

Highlights

• Completes A$2.35 million placement to sophisticated investors and leading institutional investors at $0.03 per share

• Proceeds from the Placement to be directed to support an expanded sales force and accelerate the integration of Eaglesoft into Asset Vison’s Intelligent Asset Management platform

• New institutional investors to join the share register as part of placement

Future First Technologies Ltd ( ASX:FFT ) (‘ FFT ’ or ‘ the Company ’) is pleased to announce the successful completion of A$2.35 million placement offer of new, fully paid ordinary shares (‘ New Shares ’) to sophisticated and institutional investors (‘ Placement ’) at an issue price of $0.03 per New Share (‘ Offer Price ’).

The Placement was strongly supported by new institutional investors and the monies raised will be directed to FFT’s Asset Vision business to expand the sales capability and accelerate the integration of EagleSoft into Asset Vision’s Intelligent Asset Management ( IAM ) platform.

Asset Vision (including EagleSoft’s AI asset capture technology) is developing an IAM platform aimed at revolutionising the way roads and assets are inspected and maintained, making for safer and more reliable journeys for our communities. As previously announced, Eaglesoft’s technology is already being trialled in Victoria’s northeast, helping to map and assess the condition of more than 4,000 kilometres of arterial roads and roadside assets. In a release from Premiers Office - https://www.premier.vic.gov.au/putting-tech-testour-roads - the Minister for Roads and Road Safety Ben Carroll commented:

“We're embracing the latest technology to ensure we deliver road maintenance and repairs where they're needed most."

"This technology is allowing us to work more efficiently and safely – it removes the need for workers to be out on the roads putting themselves in potentially risky situations."

On 28 October, the World Health Organisation ( WHO ) commenced a “Decade of Action for Road Safety 20212030 ” in Geneva - https://www.who.int/news/item/28-10-2021-who-kicks-off-a-decade-of-action-for-roadsafety - supported by governments around the world. The Global Plan describes what is needed to achieve a targeted 50% reduction in road deaths and injuries, calling on governments and partners to implement an integrated “safe system approach”. Asset Vision already has a small footprint in both North America and Europe and will look to grow these markets in support of the WHO’s plan.

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FFT’s CEO Mr Keith Falconer commented on the Placement:

“The strong support the Company has received from new institutional investors comes at a time where the focus on road safety is gaining attention and momentum around the world. Their support is a strong indication of the significant opportunities that lie ahead for the Company.”

Placement Details

The Placement will result in the issue of 78,400,000 New Shares at an Offer Price of $0.03 per share to raise total proceeds of $2.35m. The New Shares will rank equally with existing FFT shares quoted on the ASX.

CCZ Equities acted as Sole Lead Manager on the Placement.

This announcement has been authorised for release by the Board of FFT.

END

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