VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Sep 20, 2020

21 September 2020 | Australia

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ASX RELEASE

VECTION SECURES FIRST PUBLIC HOSPITAL TRIAL

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies , Vection or the Company ) is pleased to announce that it has signed a first public hospital to trial its Augmented Reality ( AR ) healthcare solutions.

Highlights:

• First hospital trial milestone secured for Vection’s AR Healthcare solutions

• ● Trial to introduce AR solutions in the Italian Model for Risk Management in Healthcare ● Trial focussed on AR for endoscopic surgery and EMRS access through wearable devices ● Italy first test market with ~1,000 hospitals as total addressable market ● Healthcare trial represents a globally scalable opportunity, aligned with ARR commitment ● 6 months objective: agreement aligned with advancement of solutions across healthcare

Overview:

Vection Technologies has signed the initial trial agreement with AORN S.G. Moscati hospital ( Moscati ) and Luiss Libera Università Internazionale degli Studi Sociali Guido Carli ( LUISS Business School ). This trial will be critical for the introduction of AR solutions in the Italian Model for Risk Management in Healthcare promoted by LUISS Business School, a national model that operators must adopt to manage risk in Healthcare.

The trial will focus on integrating Vection Technologies’ AR Healthcare solutions, based on FrameS’ technology infrastructure, within the Moscati hospital, focussing on:

• view, through AR wearable devices. This solution delivers a more precise and safe AR-based navigation system compared to conventional endoscopic procedures.

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3D VIRTUAL REALITY AUGMENTED REALITY INDUSTRIAL IoT CAD

• Real-time integration of electronic medical record system ( EMRS ) with AR, enabling healthcare professionals to access medical information through AR wearable devices.

With ~1,000 accredited hospitals, of which ~52% public1, Italy represents the ideal test market for the Company to introduce its real-time healthcare focussed solutions.

across healthcare, aligned with the stated six-months objectives.

1 www.agi.it/fact-checking/news/2020-03-14/coronavirus-rianimazione-posti-letto-7500889/

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

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

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

Address: Suite 1, 437 Roberts Road Subiaco WA 6008, Australia Phone: +618 6380 2555

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subject to the successful outcome of the initial 3-months trial, this agreement is anticipated to be material for the Company, based on the high barriers to entry within the public healthcare sector and the direct involvement of key executives of the Italian Model for Risk Management in Healthcare.

Enzo Peruffo, Associate Dean for Executive Education and Life-Long Learning of Luiss Business School, commented:

“We are pleased to have signed this initial trial with Vection Technologies to introduce real-time solutions within the Italian Model for Risk Management in Healthcare. Augmented reality represents the key to the digital healthcare transformation, potentially transforming healthcare practices across all critical functions, from training to in-practice usage.

We are looking forward to support Vection, and the widespread adoption of these technologies, across the national health system to secure safer outcomes for health professionals and patients alike”

Gianmarco Biagi, Managing Director of Vection Technologies, commented :

“This initial trial represents the culmination of a lengthy regulatory process with key public stakeholders enabling Vection Technologies to affirm itself at the forefront of the digital healthcare transformation, introducing augmented reality as a new standard in healthcare risk management.

This agreement represents a key commercial milestone setting the foundations for long-term growth, providing for a strong opportunity for recurring revenue growth during the second half of FY21 and into FY22.”

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

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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: Suite 1, 437 Roberts Road Subiaco WA 6008, Australia Phone: +618 6380 2555

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

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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

About LUISS Business School:

Luiss – Libera Università Internazionale degli Studi Sociali Guido Carli – is an independent university. It was created out of a pre-existing Roman institution, Pro Deo, between 1974 and 1978. Luiss offers an innovative educational approach at its four Departments: Economics and Finance, Business and Management, Law, and Political Science. Its goal is not simply to convey knowledge but to instill flexibility in young people, giving them a sense of mastery over their future. Furthermore, Luiss has four Schools for graduate and professional studies: the Luiss Business School, the School of Government, the School of Law, and the School of European Political Economy. What distinguishes Luiss is its privileged relationship with the business world. Over 200 companies, multinationals, and public and private institutions collaborate with the University.

For more information please visit: luiss.edu

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3D

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VIRTUAL REALITY

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AUGMENTED REALITY

About Moscati:

The "San Giuseppe Moscati" Hospital of National Relief and High Specialty was established by Decree of the President of the Campania Region Council No. 12257 of 22 December 1994. There are 628 beds in the hospital. The "San Giuseppe Moscati" Hospital offers diagnosis, treatment and rehabilitation services in the context of ordinary hospitalizations (lasting several days), daily (Day-Hospital and Day-surgery), visits and diagnostic services. It covers an area of 500,000 inhabitants and assist approximately 5,000 visitors per day.

For more information please visit:

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INDUSTRIAL IoT

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CAD

aosgmoscati.av.it/en

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

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: Suite 1, 437 Roberts Road Subiaco WA 6008, Australia Phone: +618 6380 2555

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