VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Jun 28, 2020

29 June 2020 | Australia

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ASX RELEASE

ARMANI TO ADOPT VECTION’S VR SOFTWARE FRAMES

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies or the Company ) is pleased to announce that global fashion house Giorgio Armani S.p.A. ( Armani ) has agreed to adopt the Company’s “FrameS” real-time Virtual Reality ( VR ) software for its worldwide retail store planning division.

Highlights:

• Armani to adopt the “FrameS” real-time VR software for its world-wide store layout and planning immersive design requirements

• Strong endorsement of the Company’s FrameS real-time VR software by one of the leading fashion houses globally

• Agreement to provide greater visibility and further commercial opportunities to Vection Technologies within the AEC and Fashion & Furniture market segments

• Armani’s adoption of FrameS on a subscription model further reinforces the Company’s strategic evolution towards a recurring SaaS revenue model

• Vection Technologies continues to progress its overarching growth strategy and remains committed to the long term success for all of its stakeholders during and following this uncertain time

Armani: FrameS Overview

Armani will initially adopt the FrameS real-time VR software in its worldwide retail store planning division. This division is responsible for retail store layout and planning design requirements across the Armani group.

designers, empowering them to design retail stores globally within a previously unmatched immersive experience.

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3D VIRTUAL REALITY

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AUGMENTED REALITY INDUSTRIAL IoT CAD

Armani endorses FrameS as its reference VR platform as a very cost-effective way to evaluate, in immersive Virtual Reality, its fashion retail store designs, as well as enabling Armani professionals to closely mimic the real store shopping experience. FrameS was identified by Armani as the ideal real-time software to develop retail store layouts and to understand the way shoppers interact with the stores.

Moreover, FrameS enables Armani’s architects and specialists to visualise ultra realistic materials such as steel, matt metal, sanded glass and ceramics in the real space, ensuring best in class outcomes aligned with the Armani brand and reputation.

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

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

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Armani’s engagement with Vection Technologies commences with an end-to-end real-time solution valued at ~$12,0001, including a “Enhancer“ FrameS licence, with a retail price of ~$5,8001 per year. This solution will assist in defining a new standard in retail store layout and planning design.

Armani: SaaS Strategy Overview

This agreement is a strategic leap towards the achievement of greater global visibility and further commercial opportunities within the Architecture, Engineering and Construction ( AEC ) and Fashion & Furniture market segments.

Furthermore, the adoption of the FrameS real-time VR software on a subscription model by a leading global fashion house such as Armani further reinforces the Company’s strategic evolution towards a recurring SaaS revenue model.

Vection Technologies continues to progress its overarching growth strategy and remains committed to the long-term success for all of its stakeholders during and following this uncertain time.

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

“ This agreement brings together our FrameS real-time Virtual Reality software with Armani’s best-in-class architects and designers, while delivering a pioneering innovative technology solution to the market.

We are pleased to work with Armani, one of the world’s leading fashion houses. This agreement represents an important stepping stone for FrameS, as it is recognised as the VR software of choice to configure the most elegant and iconic fashion retail stores globally. The endorsement of Armani will be a great impetus for our sales team in this industry.”

Investor Relations Contact Details:

Gianmarco Biagi - Managing Director (Europe Based)

Email: gianmarco.biagi@vection.com.au Phone: +39 051 0142248

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AUGMENTED REALITY INDUSTRIAL IoT CAD

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

1 AUD/€ Exchange rate of 0.6138 at 26 June 2020 (Source: Reserve Bank of Australia)Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041

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

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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 the FrameS software:

Vection Technologies’ FrameS is a real-time software 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.

About Armani:

Giorgio Armani S.p.A. is an Italian luxury fashion house which designs, manufactures, distributes and retails apparel, accessories, eyewear, watches, jewellery, home interiors, fragrances, and cosmetics products. The brand markets these products under the Giorgio Armani, Emporio Armani and A|X Armani Exchange labels. Giorgio Armani is in collaboration with Emaar Properties, a chain of luxury hotels and resorts in several big cities including Milan, Paris, New York, London, Hong Kong, Los Angeles, Tokyo, Shanghai, Seoul, Dubai. The company already operates a range of cafés worldwide, in addition to a bar and nightclub.

For more information please visit Armani’s website: www.armani.com

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

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3D

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VIRTUAL REALITY

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AUGMENTED REALITY INDUSTRIAL IoT CAD

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

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