ASSET VISION CO LTD — Capital/Financing Update 2021

Oct 17, 2021

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

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www.futurefirsttech.io

+61 3 9682 2699

18 October 2021

ASX ANNOUNCEMENT

ASSET VISION CONTRACT WIN –

VENTURE SMART IN WESTERN AUSTRALIA

Highlights

• Asset Vision's first contract in WA and will include integration with Main Roads Western Australia systems

• Another contract win with Ventia for non-pavement assets reinforcing Asset Vision’s “land and expand” organic growth strategy

• Asset Vision’ software solution to be used to maintain Assets from Broome through to Esperance and Kalgoorlie, including:

• 1000 traffic signal intersections

• 350 street lighting installations

• 3900 electronic school Zone Signs

• 500 roadside assist help phones

• 517 CCTV cameras

• 46 variable message signs

• 310 vehicle detection systems

• ▪ 534 Bluetooth travel time units ▪ 250,000m optic fibre network

• Venture Smart is a joint venture between Ventia and NYSE listed Johnson Controls expanding the global reach of organisations being exposed to Asset Vision’s software solution

Future First Technologies Ltd ( ASX: FFT ) ( FFT or the Company ) is pleased to announce its first contract win in Western Australia with a new Statement of Work ( SoW ) to work with Venture Smart on the Statewide Electrical Infrastructure Services Contract for Main Roads Western Australia .

Venture Smart is a joint venture ( JV ) between Ventia and Johnson Controls. Johnson Controls is listed on the NYSE with a market capitalisation >USD50B with more than 100,000 employees worldwide. As a JV partner in Venture Smart, this contract will see our Asset Vision Platform being used by a number of Johnson Controls’ workforce in Australia, expanding the global reach of organisations being exposed to Asset Vision.

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Asset Vision CEO, Damian Smith commented:

“We are very pleased to be working with Venture Smart on their Statewide Electrical Infrastructure Services Contract with Main Roads Western Australia.

This comes on the heels of successfully delivering Asset Vision for Ventia’s Regional ITS (Intelligent Transport Systems) contract with Transport for NSW, another nonpavement contract win for Asset Vision.

As our road networks become more intelligent with sensors, cameras, smart signage and vehicle detection systems, road maintenance contractors are increasingly required to service all aspects of the road corridor. Our Asset Vision Platform is well positioned to meet and exceed these needs.

Having our platform utilised by a global leader in Johnson Controls through the Venture Smart joint venture with Ventia is a positive step to expand our global presence.

The addition of Main Roads Western Australia expands the footprint of Asset Vision across Australia, and the team is working on several opportunities that would strengthen this further.”

More information of the Venture Smart joint venture can be found at: https://www.ventia.com/projects/Venture-Smart-delivers-for-the-community-in-WA

This announcement has been authorised for release by FFT’s Board of Directors.

END

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