VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Dec 13, 2020

14 December 2020 | Australia

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ASX RELEASE

VECTION TO INTRODUCE XR TECHNOLOGIES IN THE ART/CULTURAL SECTOR

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies , Vection or the Company ) is pleased to announce the execution of a framework agreement to introduce virtual and augmented reality technologies within the art/cultural sector and, in particular, art museums, galleries and expositions, both public and private.

Highlights:

• Vection to introduce its virtual and augmented reality technologies to the art/cultural sector with Poetronicart

• Initial pilot platform to be delivered in Q1 2021, for a value of up to $160k in addition to 15% of net sales to clients

• Art sales generated over USD 64 billion in sales in 2019, with 55,000 art museums globally

• The top-10 most important sites were visited by over 60 million people in 2019

• ● 6-months objective: agreement aligned with advancement of digital transformation across the Cultural sector

Overview:

Vection Technologies has executed a framework agreement with Poetronicart Srl ( Poetronicart ) to introduce virtual reality, augmented reality and real-time presentation technologies within the art/cultural sector as part of a global targeted strategy.

definition of a first pilot platform for a value of up to ~$160,0001 in addition to 15% of net sales generated by Poetronicart from the sale of the platform to clients.

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3D VIRTUAL REALITY AUGMENTED REALITY INDUSTRIAL IoT CAD

with over 55,000 art museums in 202 countries (95,000 museums). In 2019, the 10 most important global sites were visited by over 60 million people, with the Vatican museums being visited by over 6 million people alone.2

Today, the art sector presents many barriers to entry, gaps of knowledge, great fragmentation and lack of transparency where digital innovation is poised to generate tangible benefits for the many players operating in the industry. Driven by greater demand from art collectors and investors, artists must innovate in the digital world, also through virtual and augmented reality technologies, leveraging real world’s assets to increase awareness and promotion of their work and venues.

1 AUD/€ Exchange rate at 11 December 2020 of 0.6220. Source: Reserve Bank of Australia

2 www.widewalls.ch/magazine/10-contemporary-art-museums;

www.theartnewspaper.com/news/trade-wars-and-political-unrest-contribute-to-tricky-year-as-global-art-market-dips-5-to-usd64-1bn; Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041 www.theartnewspaper.com/analysis/art-s-most-popular-here-are-2019-s-most-visited-shows-and-museums; en.unesco.org/themes/museums

North America

Media Enquiries AUpress@vection.com.au EUpress@vection.com.au

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Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy

Address: 785 Market Street, #600 San Francisco CA 94103 USA

Address: 642 Newcastle Street, Leederville WA 6007

Phone: +618 6380 2555

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This agreement is anticipated to be material for the Company as it represents a subsequent significant opportunity to introduce its virtual and augmented reality ( XR ) technologies within the art/cultural sector under a structured framework agreement with clear initial revenue targets and a knowledgeable partner as Poetronicart. During the first quarter of 2021, the parties will collaborate to finalise a first pilot platform and definitive agreements.

Giovanni Abelli, CEO of Poetronicart, commented:

“Poetronicart is an Art Business Village, a digital space designed for the art industry. The village is digital, permanent, leveraging new technologies and business models that are transforming other industries.

Vection is the perfect partner with a strong reputation and deep knowledge of Virtual and Augmented Reality technologies. Together with Vection, we are seeking to implement and manage great digital experiences and easy interaction inside the village, to share knowledge, ideas, goods, solutions and projects.”

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

operators to unlock new business tools to reach visitors, customers and people. The current pandemic environment is accelerating the reinvention of industries, where digital transformation and emerging technologies will play a pivotal role. Poetronicart is the ideal partner to accelerate our strategy in this sector, with deep knowledge and commercial reach to bring to market new innovative business models aligned with Industry 4.0.”

Vection Technologies Investor Relations Contact Details

Gianmarco Biagi - Managing Director (Europe Based) Email: gianmarco.biagi@vection.com.au Phone: +39 051 0142248

Gianmarco Orgnoni - Director and COO (Australia Based) Email: gianmarco.orgnoni@vection.com.au Phone: +61 8 6380 2555

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3D VIRTUAL REALITY

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AUGMENTED REALITY

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INDUSTRIAL IoT

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CAD

ENDS

Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041

Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy

Media Enquiries AUpress@vection.com.au EUpress@vection.com.au

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Address: 642 Newcastle Street, Leederville WA 6007 Phone: +618 6380 2555

North America Address: 785 Market Street, #600 San Francisco CA 94103 USA

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About Poetronicart:

Poetronicart Srl is a company operating in the art/cultural sector, providing operators with digital tools for management, creation, promotion and distribution of art. Its entire ecosystem has been designed around new technologies, including AR, Blockchain, AI and IoT. For more information please visit: www.poetronicart.com

About Vection Technologies:

Vection Technologies Ltd (ASX:VR1) is a multinational software company that focuses on real-time technologies for industrial companies’ digital transformation.

Through a combination of our 3D, Virtual Reality, Augmented Reality, Industrial IoT and CAD solutions, Vection Technologies helps companies and organisations to innovate, collaborate and create value.

For more information please visit the Company’s websites: vection.com.au

mindeskvr.com

ASX release authorised by the Board of Directors of Vection Technologies Ltd.

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3D VIRTUAL REALITY

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AUGMENTED REALITY

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INDUSTRIAL IoT CAD

Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041

Media Enquiries AUpress@vection.com.au EUpress@vection.com.au

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North America Address: 785 Market Street, #600 San Francisco CA 94103 USA

Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy

Address: 642 Newcastle Street, Leederville WA 6007 Phone: +618 6380 2555