VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Dec 8, 2020

9 December 2020 | Australia

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ASX RELEASE

VECTION TO DELIVER CULTURAL DIGITAL

TRANSFORMATION PLATFORM

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies , Vection or the Company ) is pleased to announce the execution of a ~$0.36M digital transformation agreement, blending physical archeological sites with immersive digital twins across a multi-purpose, multi-platform solution to unlock innovative business models for cultural operators.

Highlights:

• Vection to deliver a digital transformation solution for the cultural operator of the Roman Theatre of Bologna

• Solution to combine the physical heritage site with 3D, VR and AR visual outputs

• Strong market proposition to leverage physical assets in a digital world, unlocking innovative monetizable business outcomes for operators

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

Overview:

Vection Technologies will deliver a digital transformation solution for an initial value of ~$0.33M in addition to $33k per annum in ongoing fees1. The agreement has been executed with the company operating the Roman Theatre of Bologna, ML 6.48 Srl (SUM-Teatro Romano Bologna), a significant heritage site repurposed for cultural, educational and business events alike.

The digital transformation solution will combine the physical heritage site with 3D, Virtual Reality ( VR ) and Augmented Reality ( AR ) visual outputs, creating authentic renditions where businesses can leverage the site as a digital twin for digital events, bridging the frontier of physical and digital to unlock monetizable business outcomes.

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3D VIRTUAL REALITY AUGMENTED REALITY INDUSTRIAL IoT CAD

Through this agreement, Vection Technologies will deploy its digital transformation capabilities, bringing to market a FrameS based cross-platform solution leveraging the full visualisation power of VR and AR enabling operators to monetise physical heritage sites through digital solutions.

Furthermore, this agreement represents a further step in the Company’s strategy across the educational and cultural sector, where the integration of real-time, immersive technologies enables new business opportunities for operators in the sector.

1 AUD/€ Exchange rate of 0.6130 at 8 December 2020 (Source: Reserve Bank of Australia)

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

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

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Address: 642 Newcastle Street, Leederville WA 6007

Europe North America Address: Via Isonzo 61 Address: 785 Market Street, #600 40033 Casalecchio di Reno (BO), San Francisco CA 94103 Italy USA

Phone: +618 6380 2555

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This agreement is anticipated to be material for the Company as it represents a material opportunity to enter into the cultural sector with a first business case with a significant heritage site. Development work will commence immediately.

Monika Petrelli, CEO of ML 6.48 Srl (SUM-Teatro Romano Bologna), commented:

“This pandemic has highlighted the requirement of cultural operators to implement digital transformation strategies to leverage key assets under management. 3D, VR and AR represent novel solutions to create new and exciting business models, where our physical assets become digital worlds in which our customers can interact without any physical constraints. We are pleased to have partnered with Vection Technologies in this digital transformation journey, which we believe is the future of our industry.”

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

real-time technology in the cultural sector, where physical assets can be deployed in the digital world, creating a new and exciting value proposition for operators who are seeking to leverage their existing assets, creating 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

ENDS

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3D VIRTUAL REALITY AUGMENTED REALITY INDUSTRIAL IoT CAD

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.

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

Address: 642 Newcastle Street, Leederville WA 6007

Phone: +618 6380 2555

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

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

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

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