VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Mar 29, 2020

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30 March 2020 | Australia

ASX RELEASE

SIEMENS PARTNERSHIP MILESTONE SECURED

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies or the Company ) is pleased to advise that Mindesk has signed a partnership agreement with Siemens Software Industry Inc. ( Siemens ) and joined the Frontier Program to introduce new Siemens NX and Siemens Solid Edge Computer Aided Design ( CAD ) Virtual Reality ( VR ) solutions based on Mindesk’s software technology.

On 2 March 2020, Vection Technologies announced the proposed acquisition of Mindesk, the HTC backed developer of the first Software as a Service ( SaaS ) real-time 3D design platform that combines CAD with VR and graphic engines. The general meeting of Vection Technologies’ 3D shareholders to vote on the proposed acquisition of Mindesk will be held on 23 April 2020. Highlights: VIRTUAL ● Partnership with global technology company, Siemens REALITY ● Focus on development of VR and AR solutions for Siemens software suite ● Commercial strategy underway to identify an immediate user-base ● Strong endorsement of the Mindesk real-time technology ● Siemens adds-on to existing partnerships including Logitech, HTC Vive, Dassault AUGMENTED Systémes SolidWorks Corporation, McNeel, Autodesk, Epic Games, HP, and Varjo REALITY ● General Meeting of Vection Technologies’ shareholders to be held on 23 April 2020 Siemens Partnership INDUSTRIAL The partnership with Siemens will focus on the development of software solutions to enable IoT collaboration of design teams through connecting design data from CAD to Virtual and Augmented Reality. This partnership will focus on delivering unique real-time solutions for: CAD

• Siemens NX: a flexible and powerful Computer Aided Design ( CAD ), Computer Aided Manufacturing ( CAM ) and Computer Aided Engineering ( CAE ) integrated software solution. It is used, among other tasks, for: ○ Design (parametric and direct solid/surface modelling) ○ Engineering analysis ○ Manufacturing finished design by using included machining modules.

• ● Siemens Solid Edge: a 3D CAD, parametric feature and synchronous technology solid modeling software used for: ○ Solid modeling ○ Assembly modelling ○ 2D orthographic view functionality for mechanical designers.

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

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 Company will focus on developing real-time software solutions for Siemens software products to address the following functionalities:

• Collaborative Design Review

• Ergonomic Design

• Interference check

• Design validation and decision making

• Rapid virtual Prototyping.

Commercial Strategy

In conjunction with Siemens, the Company plans to identify businesses operating in strategic industry sectors who are currently utilising the Siemens NX and Solid Edge software in their day-to-day workflows. This strategic approach will enable the Company to have an immediate end-user base for the new Siemens based software solutions.

subject to the successful integration of the Mindesk platform with Siemens’ software suite (and approval of the Mindesk acquisition), the partnership with Siemens is anticipated to be material for the Company. This view is based on the global reach of Siemens and the prospect of integrating the Mindesk platform with Siemens’ software product suite.

A brief summary of the Company’s current partnerships landscape is appended to this announcement.

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

“The partnership with Siemens and the acceptance in the Frontier Program is a strong endorsement of the validity of the activities undertaken by management during this uncertain time.

The Company continues its integration activities with Mindesk while focusing on commercial initiatives to deliver on the Company’s strategic objectives.”

Gabriele Sorrento, CEO of Mindesk, commented:

Mindesk to expand on the combined product and service offerings.

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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

Integrating Siemens CAD software in our platform portfolio will allow us to tackle a wider market in the design, simulation, and manufacturing 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

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

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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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 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

About Siemens Digital Industries Software:

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3D

Siemens Digital Industries Software is driving transformation to enable a digital enterprise where engineering, manufacturing and electronics design meet tomorrow. Siemens’ solutions help companies of all sizes create and leverage digital twins that provide organizations with new insights, opportunities and levels of automation to drive innovation. sw.siemens.com

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

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VIRTUAL REALITY

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AUGMENTED REALITY INDUSTRIAL IoT

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

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PARTNERSHIPS

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

• Technology

• Partnerships:

• Acceleration of development, OEM and distribution agreements with existing technology and industrial partners

• Acceleration of new strategic partnerships with key technology and industrial partners across Tier-1 regions

• Growth

Following the execution of the partnership with Siemens and the entry of Mindesk in the Frontier Program, the Company strengthens its partner network in the CAD/CAM/CAE/PLM software segment .

Below a summary of the Company’s partnership landscape to date[1] :

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OEM Segment:
CAD/CAM/CAE/PLM
Software Segment:
Software Segment:
Network Segment:
Industrial Segment:
VOLVO CARS ITALY
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1 Including partnerships attributable to the Mindesk acquisition.

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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

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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