VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Apr 14, 2020

15 April 2020 | Australia

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ASX RELEASE

3 VIRT REA AUGM REA INDU I CA NEW RELEASE OF MINDESK FOR SOLIDWORKS INTRODUCING THE LOGITECH VR INK 3D PEN MARKUP TOOL Real-time software company Vection Technologies Ltd (ASX:VR1) (Vection Technologiesor theCompany) is pleased to announce the newest release of the Mindesk software, the real-time 3D design platform that combines Computer Aided Design (CAD) with Virtual Reality (VR) and graphic engines. Vection Technologies previously announced the proposed acquisition of HTC backed Mindesk with shareholders set to approve the transaction on 23 April 2020. Highlights: ● New release of Mindesk for Solidworks set for Monday 20 April 2020 ● Mindesk for Solidworks v.1.1 will introduce the 3D pen markup tool, compatible with the Logitech VR INK hardware ● Solidworks is a CAD software used by more than 6 million users worldwide ● Mindesk collaborated with Bioforcetech for a case study leading up to the release date ● Vection Technologies accelerating joint strategic marketing initiatives with new commercial material available ● General Meeting of Vection Technologies’ shareholders to be held on 23 April 2020 Mindesk for Solidworks (Mindesk Suite 2020.1) The Mindesk VR software provides the bi-directional, real-time live link across multiple commercial CAD and design software, including Solidworks. The latest release of Mindesk for Solidworks introduces major software advancements, including: ● Improved render performance with large assemblies ● Easy 1:1 navigation for ergonomic design validation ● Advanced VR clash detection ● 3D pen markup tool, compatible with the Logitech VR INK hardware. For more information please visit: https ://www.logitech.com/en-roeu/promo/vr-ink.html Mindesk for Solidworks (v.1.1) will be available to customers on 20 April 2020. Solidworks CAD Software Solidworks is a CAD software developed and commercialised by Dassault Systèmes SE (NYSE Euronext:DSY), and one of the most widespread parametric mechanical CAD software used by more than 6 million users worldwide, primarily for light mechanics, gadgets, appliances, automation and metalworks in general.	D UAL LITY
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The Solidworks CAD software is a mechanical design automation application that lets designers quickly sketch out ideas, experiment with features and dimensions, and produce models and detailed drawings.

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

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

Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy Phone: +39 051 0142248

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

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Solidworks Partnership

Mindesk is a Solidworks Certified Solution Partner, representing the second level in the Solidworks Partner Product Program. The Solution Partner status is a market-facing acknowledgement that Mindesk is complementary and compatible with Solidworks from 2018 to 2020 and that Dassault SolidWorks has verified that these products are commercially available and members of the SolidWorks community have confirmed the usefulness of these products. It also enables Mindesk to access benefits and opportunities such as joint press releases and joint customers success stories. For more information please visit: https://www.solidworks.com/partner-product/mindesk

Case Study: Bioforcetech

Leading up to the release of the latest release of Mindesk for Solidworks, the Company collaborated with Bioforcetech, a Californian company that creates systems to dispose of waste products such as biosolids, green waste and biomass through modular reactors capable of minimizing the use of energy sources.

Mindesk real-time platform has assisted Bioforcetech’s engineering and sales team in communicating their solutions to both technical and non technical stakeholders via VR, improving collaborative design review processes and engaging with their customers more effectively.

Case study video: https://youtu.be/R9rYStrGY9E

Mindesk Acquisition Update

As the Company is accelerating its combined global sales initiatives with Mindesk, its marketing team is finalising joint strategic commercial material specific for industry segment, area of application and geographical area.

An example of this new material is represented by the corporate promotional video, which can be viewed at this link: https://www.youtube.com/watch?v=6uH_vW-rZHA&feature=youtu.be

The general meeting of Vection Technologies’ shareholders to vote on the proposed acquisition of Mindesk will be held on 23 April 2020.

A brief overview of how the new release of the Mindesk for Solidworks software release fits into the Company’s product suite is appended to this announcement.

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

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3D VIRTUAL REALITY AUGMENTED REALITY INDUSTRIAL IoT CAD

“The new release of Mindesk for Solidworks represents an acceleration of development activities towards broader industry applicability for the Mindesk platform. The 6 million users who utilise Solidworks globally represent a strong opportunity for growth for the Company in the coming months.

The combined management of Vection Technologies and Mindesk have been working very closely towards the delivery of clear outcomes for all the Company’s stakeholders.”

Gabriele Sorrento, CEO of Mindesk, commented:

“We are very excited about the new release of Mindesk for Solidworks, introducing major software advancements including the 3D pen markup tool, compatible with the Logitech VR INK hardware. The new release will enable us to scale our technology horizontally towards a multitude of industries.

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

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

Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy Phone: +39 051 0142248

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

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The case study with Bioforcetech was a strategic collaboration effort with an innovative company operating outside of the AEC industry. Working directly with their CEO, Dario Presezzi, enabled us to further prove the broader applicability of our technology across industries.”

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:

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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 helps companies and organisations to innovate, collaborate and create value. vection.com.au

About Mindesk:

Mindesk Inc. is a multinational SaaS company that develops a Real-Time 3D design platform that integrates with existing commercial CAD software to extend their operations to the third-dimension: Virtual Reality, Augmented Reality, Real-time rendering, and Multi-user collaboration.

mindeskvr.com

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

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VIRTUAL REALITY AUGMENTED REALITY

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INDUSTRIAL IoT CAD

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

Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy Phone: +39 051 0142248

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

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

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TECHNOLOGIES

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

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Technology :
○ Continued strong focus on proprietary real-time technologies
○ Commitment on building a 360° SaaS product suite for Industry 4.0
Partnerships
Growth
the latest release of MIndesk for Solidworks, Vection Technologies strengthens its positioning
in the DESIGN & ENGINEERING segment towards the creation of its 360° product suite for Industry 4.0:
3D
DESIGN & ENGINEERING
Real-time technologies enable
a faster, more efficient and
affordable design process. VIRTUAL
REALITY
MAINTENANCE
MANUFACTURING
AUGMENTED
REALITY
MARKETING & SALES TRAINING INDUSTRIAL
IoT
CAD
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• Technology :

• Partnerships

• Growth

Following the latest release of MIndesk for Solidworks, Vection Technologies strengthens its positioning in the DESIGN & ENGINEERING segment towards the creation of its 360° product suite for Industry 4.0:

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

Europe Address: Via Isonzo 61

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

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

40033 Casalecchio di Reno (BO), Italy Phone: +39 051 0142248