REMSENSE TECHNOLOGIES LIMITED — Capital/Financing Update 2024

Nov 14, 2024

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ASX ANNOUNCEMENT

15 November 2024

FURTHER SIGNFICANT CONTRACT– BOOSTING CASH FLOW

HIGHLIGHTS

• Increasing project pipeline and sales opportunities

• Strong cash flow and growth trajectory

RemSense Technologies Limited ( RemSense or the Company )( ASX:REM ) is thrilled to announce another substantial order from Chevron, highlighting our leading-edge capabilities in high-resolution photogrammetry scanning and advanced image processing via our virtualplant platform. This new contract demonstrates our commitment to delivering innovative, AI-driven photogrammetry solutions to meet the dynamic needs of global industry leaders.

The contract, valued at $412,532 , is scheduled for completion by the end of December 2024. This latest order brings our total contracts announced since 1 June 2024 to $2,400,106 , significantly reinforcing our cashflow and solidifying our growth trajectory.

RemSense is actively engaged with Chevron and other major global energy and commodity producers to support their future virtualplant needs. We will keep the market informed of any additional substantial contracts secured.

There are no material terms or conditions precedent requiring satisfaction to enable the contract works to be fulfilled, and there are no terms or conditions to the contract considered outside of normal commercial terms and conditions, including termination clauses considered.

Ross Taylor, RemSense Chairman said:

" Our latest contract with Chevron reflects both the trust and recognition we've built with industry leaders for our cutting-edge technology. This order not only underscores our technical capabilities but also strengthens our cashflow, positioning us for continued growth and future opportunities. We’re excited about our momentum and look forward to deepening our partnerships across the energy and commodities sectors as we expand our innovative solutions .”

-ENDS-

ACN 648 834 771

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

For further information:

Warren Cook Managing Director / Chief Executive Officer +61 8 6118 5610 rem@remsense.com.au

About RemSense

RemSense develops virtualplant , a high-resolution 3D asset visualisation platform that delivers an intuitive immersive reality experience with AI-driven centralised intelligence for effortless asset utilisation. Virtualplant is a visual twin platform delivering digital representations of plant assets for greater productivity, increased safety, and reduced costs.