REMSENSE TECHNOLOGIES LIMITED — Capital/Financing Update 2023

Mar 6, 2023

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ASX ANNOUNCEMENT

7 March 2023

MULTIYEAR VIRTUALPLANT CONTRACT AWARD

Technology solutions company RemSense Technologies Limited (ASX: REM) (“RemSense”) is pleased to announce that it has received a contract from AGC Industries Pty Ltd on behalf of Chevron Australia to undertake virtualplant scanning of additional LNG facilities through 2023 and 2024 for a total contract value of approximately $2 million.

This award builds on the successful virtualplant scanning of some Chevron assets last year, with new site scanning work commencing early April 2023.

Steve Brown RemSense Managing Director said

“The contract award is the largest single commitment for virtualplant scanning and a significant milestone for RemSense.

It’s a great example of the maturing of enterprise sales opportunities started in 2022 by our business development team led by Anthony Roe. The team has been steadily building opportunities in parallel to the development of virtualplant product and services with our global partners.

Further prospects across market sectors are progressing in Australia and overseas.”

-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

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