REMSENSE TECHNOLOGIES LIMITED — Capital/Financing Update 2023

Jul 19, 2023

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ASX ANNOUNCEMENT

20 July 2023

Virtualplant Contract Award

HIGHLIGHTS

• Virtualplant contract award

• Site scanning and SaaS

• Expands virtualplant footprint with FPSO / maritime industry exposure

Technology solutions company RemSense Technologies Limited (ASX: REM) (“RemSense”) is pleased to announce that it has received a contract from Woodside Energy Ltd to implement virtualplant creating a photogrammic digital twin of one of their FPSO (Floating Production Storage and Offloading) vessels.

The work is scheduled to commence early August.

Steve Brown RemSense Managing Director said

“RemSense continues to expand virtualplant both with existing and new customers. This is our second seagoing vessel reinforcing virtualplant’s wide application base. RemSense is at an inflection point and is in a far better place to secure our next sale opportunities than one year ago.”

The contract revenue is $245,000 which includes operational data capture and a SaaS agreement for an initial one (1) year contract.

-ENDS-

This announcement has been approved for release by the Board of RemSense Technologies Limited.

For further information:

Steve Brown Managing Director and CEO +61 8 6118 5610 rem@remsense.com.au

About RemSense Technologies Limited (ASX: REM)

RemSense has developed virtualplant, a photographic asset visualisation platform that fulfills the promise of VR/AI technology as a digital representation of plant assets (digital twin) that integrates with existing business operations and asset management systems to deliver greater productivity, increased safety, and reduced cost.

Suite 173, 580 Hay St Perth WA 6000| +61 8 6118 5610 | rem@remsense.com.au ACN 648 834 771