REMSENSE TECHNOLOGIES LIMITED — Capital/Financing Update 2024

Oct 30, 2024

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ASX ANNOUNCEMENT

31 October 2024

EXPANSION OF SIGNIFICANT CONTRACTS

HIGHLIGHTS

• Material extension of previously awarded contracts announced June 2024

• Strong and expanding partnership with a leading global energy company

RemSense Technologies Limited ( ASX: REM ) ( RemSense or the Company ) is pleased to announce significant expansion orders received from Chevron, reinforcing our expertise in delivering high-resolution photogrammetry scanning and image processing through our virtualplant platform.

These project extensions, valued at $707,750 in Northwest Australia and US$70,642 in South Asia valued at (approximately $104K), underscore our commitment to providing cutting-edge, AI-driven photogrammetry processing technology and services across diverse regions.

The contract works are scheduled to be completed by end of December 2024.

RemSense continues to be engaged in communication with Chevron and other global energy and commodity producers regarding future needs for virtualplant , and will update the market accordingly for any subsequent material contracts that are entered into.

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.

Warren Cook, RemSense Managing Director said:

" This opportunity not only enhances our collaboration with a global leader in energy development and production but also highlights our capabilities to meet growing demands in advanced visualisation data processing. ”

-ENDS-

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

ACN 648 834 771

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For further information:

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

About RemSense

RemSense has developed virtualplant , a high-resolution 3D asset visualisation platform that delivers an intuitive immersive reality experience with centralised intelligence for effortless asset utilisation. Virtualplant realises the promise of VR/AI technology by creating digital representations of plant assets (digital/visual twins) delivering greater productivity, increased safety, and reduced costs.

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