VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

May 5, 2020

6 May 2020 | Australia

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ASX RELEASE

VECTION ACCELERATES AUSTRALIAN COMMERCIAL ROLLOUT

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies or the Company ) is pleased to advise on the execution of a strategic partnership and distribution agreement with Australian leading supplier of technology solutions, Storm FX.

Highlights:

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• Australian commercial rollout acceleration with leading technology supplier, Storm FX 3D

• ● Commercial rollout to target the Oil & Gas, Mining, Architecture Engineering and Construction (AEC), Manufacturing and Automotive Design industries

• ● Partnership focussed on the distribution of Vection Technologies’ real-time software product suite, including the FrameS and Mindesk software VIRTUAL REALITY

• ● Storm FX to provide unparalleled access to over 30 vendor partners and 300 companies throughout Australia and New Zealand

• ● Over the last 12 months the Company has added 40 commercial partners as part of a global campaign to strengthen sales AUGMENTED

• ● Agreement aligned with Company’s overarching growth strategy and acceleration of REALITY Australian market development

• Australian Commercial Rollout Acceleration: INDUSTRIAL IoT

• Vection Technologies has partnered with leading supplier of technology solutions, Storm FX, to distribute its real-time software product suite, including the FrameS and Mindesk software, throughout Australia and New Zealand. This is the first time that the product suite will be made available in Australia following significant take-up across Europe. CAD

targeting the following industries:

• Oil & Gas;

• Mining;

• ● Architecture, Engineering and Construction ( AEC ); ● Manufacturing; and ● Automotive Design.

Storm FX represents a key partner to expand and accelerate the Company’s Australian market presence, collaborating with over 30 vendor partners and engaging over 300 companies across the Media & Entertainment ( M&E ), Education and AEC industries, throughout Australia and New Zealand.

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

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

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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Global Commercial Rollout Overview:

Over the last 12 months, Vection Technologies has added 40 commercial partners globally, as part of a world-wide campaign to strengthen sales.

Company’s commercial initiatives within the Asia Pacific region.

Vection Technologies remains committed to its overarching strategy and, in particular, will continue its strong proactive commercial and operational activities to ensure continuity of its growth objectives for all stakeholders, underpinned by its three stated building blocks (technology, partnerships and growth). A brief overview of the Company’s current distribution partner footprint is appended to this announcement.

not determinable at this time, the agreement is anticipated to be material for the Company. This view is based on the potential sales and Australian commercial market exposure generated by the partnership.

Martin Leibowitz, Managing Director of Storm FX, commented:

“STORM FX is one of the leading providers of 3D, Virtual Reality, Augmented Reality and Mixed Reality solutions in Australia and New Zealand.

We are excited to welcome Vection Technologies to our family, and we believe its real-time software product suite will be an excellent addition to our portfolio.”

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

“We are pleased to have partnered with Storm FX, representing an established strategic partner to accelerate Vection Technologies’ growth within Australian and New Zealand.

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3D VIRTUAL REALITY

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AUGMENTED REALITY INDUSTRIAL IoT CAD

local demand and generate growth via the delivery of its real-time software product suite.”

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

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 Storm FX:

For over 27 years Storm FX has combined world class Software, Hardware, Consulting and Technical Services to help customers optimise their IT infrastructures, create industry leading projects and achieve their business goals. Headquartered in Milsons Point, NSW, Storm FX works with over 30 vendor partners and engages over 300 companies across the M&E, Education and AEC industries, throughout Australia and New Zealand. Established in 1991, Storm FX started out selling software in a retail game store. With an interest in how games were made, Storm FX founders signed up with Discreet Logic to resell their 3DS Max product and in 1995 opened their first office in St Leonards, Sydney. Over the next 9 years the company continued to grow by adding additional vendors and solutions to their mix and established a strong reputation in what became the M&E industry. In 2006, Martin Leibowitz became Managing Director of Storm FX. With over 40 years of sales and marketing experience in IT, he is highly regarded amongst Australia’s creative professionals and experts and has established many exclusive partnerships with global trendsetters to benefit the Australian and New Zealand market. Coming from New York, he was a key evangelist for new technologies and solutions with companies such as FutureLink (the first “Cloud” solution provider in the US and Europe), Gotham Technology Group (the leading systems integrator in Access & Security technologies), Security Consulting and Storage dealing with all the major financial institutions and media companies such as Time Warner Group. Over the past 10 years, Martin has significantly grown Storm FX from a reseller of software to the leading supplier of technology solutions. For more information please visit:

stormfx.com.au

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3D

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VIRTUAL REALITY

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AUGMENTED REALITY

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INDUSTRIAL IoT CAD

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

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

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

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

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GROWTH

Vection Technologies is continuously delivering on its global strategy underpinned by three building blocks:

• Technology

• Partnerships

• Growth:

• Strong focus on leveraging the existing distribution, online and direct sales network

• Geographical and market expansion via an enlarged distribution footprint

• ○ Global marketing and sales initiatives to establish Vection as the B2B real-time software leader

• Achieve market dominance across Vection’s 360° SaaS product suite for Industry 4.0

Following the execution of the partnership and distribution agreement with Storm FX , the Company strengthens its distribution outreach throughout Australia and New Zealand .

Below a summary of the Company’s distribution partner network to date:

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EUROPE, MIDDLE
31 [PARTNERS]
EAST AND AFRICA:
ASIA PACIFIC: 4 + 1 [PARTNERS]
NORTH AMERICA: 4 [PARTNERS]
TOTAL: 40 PARTNERS
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3D
VIRTUAL
REALITY
AUGMENTED
REALITY
INDUSTRIAL
IoT
CAD
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Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041

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

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