VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Oct 13, 2020

14 October 2020 | Australia

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ASX RELEASE

VECTION COMPLETES FIRST BUNDLE SALES TO DELL OEM PARTNER

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies , Vection or the Company ) is pleased to announce the initial sales of FrameS bundles to DELL OEM Platinum partner JMC Group. This announcement follows on from the global launch of the Company’s first Dell Technologies ( DELL ) powered Virtual Reality ( VR ) integrated solution for enterprise, VRONE . (ASX: 12 October 2020)

Highlights:

• Vection completes $330,000[1] in FrameS bundle sales to DELL OEM Platinum partner, JMC Group

• Announcement follows on from the global launch of VRONE, the DELL powered VR integrated solution for enterprise

• FrameS is a proprietary VR software addressing the challenges set by Industry 4.0

• 6-months objective: announcement aligned with strong focus on acceleration of recurring revenue sales initiatives towards the 50% ARR by June 2022 goal

Overview:

Vection has completed an initial $330,000 in FrameS bundle sales to DELL OEM Platinum partner JMC Group under the Original Equipment Manufacturer ( OEM ) partnership agreement to introduce Vection’s real-time software suite to DELL’s Software and Peripherals ( SnP ) global sales program with SnP MFG ID 3123 3rd Party Vendor Code.

VRONE is a powerful VR-integrated solution for enterprises’ digital future, designed by JMC Group and powered by DELL’s WKS hardware and Vection Technologies’ real-time VR software suite. VRONE harnesses the best of DELL’s WKS hardware bringing to market an industry first integrated solution to unlock the full power of VR visualisation for live-streaming and 3D rendering. The solution is available in three variations harnessing the advanced features of Vection’s FrameS and Mindesk real-time software.

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3D VIRTUAL REALITY AUGMENTED REALITY INDUSTRIAL IoT CAD

Vection’s FrameS is a real-time platform that allows its users to visualise and interact with products’ designs and concepts in one immersive space in virtual reality, resulting in tangible results for businesses globally, including cost reduction, faster decision making and increased understanding. FrameS is the end-to-end real-time software developed for the enterprise of the future, addressing the multiple challenges set by Industry 4.0, including remote collaboration and sales.

This announcement represents a further consolidation of the Company’s strategy towards its June 2022 50% ARR goal.

1 Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041 AUD/€ Exchange Rate of 0.6090 at 13 October 2020 (Source: Reserve Bank of Australia)

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

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

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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

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

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

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