VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Mar 24, 2020

25 March 2020 | Australia

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ASX RELEASE

CORPORATE UPDATE

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies or the Company ) wishes to provide an update in response to the potential implications of global shut-downs.

The Company is currently undergoing strong proactive commercial and operational measures to ensure continuity of its growth objectives for all stakeholders, while focussing on its core real-time technologies product development initiatives.

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3D Highlights: ● Commercial initiatives for remote collaboration underway with Altea Federation ● Strong focus on global revenue generative activities VIRTUAL ● Strategically positioned to assist businesses globally to operate in a social distant world REALITY ● Initiatives underway to ensure focus on core real-time technologies activities ● Board and management have committed to reduce their salaries in the coming months, demonstrating their commitment to the Company and all stakeholders ● Mindesk acquisition underway with shareholder meeting to be held on 23 April 2020 AUGMENTED REALITY Corporate Update In partnership with its key partner Altea Federation, the Company has launched a commercial promotion to ensure business continuity for European companies affected by global shutdowns. In INDUSTRIAL particular, Vection Technologies has focussed on promoting its suite of real-time collaboration IoT tools, assisting impacted companies to: ● Collaborate remotely across team members dislocated globally within a virtual environment CAD

• Hold client meetings in an immersive virtual reality space

• Present hyper realistic products in life-like conditions to clients and stakeholders unable to attend cancelled trade-shows and events

• Enable remote assistance in augmented reality

For more information please visit: https://www.vection.com.au/frame-s-kit

~ The 1-week commercial promotion brought initial interest of landing page, which demonstrates the significant interest of the market on real-time solutions. This further demonstrates the role of Vection Technologies in assisting businesses globally to utilise real-time software solutions to strategically operate in a social distant environment today, and following the recommencement of commercial activities tomorrow, guaranteeing efficiencies and revenue generation in these unchartered waters. A small number of endorsements received by the Company during the last week have been included at the end of the announcement.

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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As global economies are experiencing revenue contractions, prudent businesses are adopting new real-time technologies to ensure business continuity while performing cost cutting initiatives towards non-core activities and collaborators. The board and management of the Company are also adopting these best practice activities during this uncertain time and, as such, have committed to reduce their salaries in the coming months to demonstrate their commitment to all stakeholders.

Mindesk Acquisition

The combined global sales initiatives with Mindesk are progressing well, with initial integration strategies underway.

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

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

“ The Board and Management of Vection Technologies are committed to the long term success of the Company and, as such, we will continue to implement initiatives to the benefit our stakeholders.

We remain committed to he health and safety of all of our employees, customers, suppliers and contractors, while focussing on our growth strategy. ”

Andrea Ruscica, Founder and President of Altea Federation, commented:

" Virtual Reality and Augmented Reality are revolutionizing entire business logics, reinventing various vertical applications. The partnership with Vection Technologies allows us to transform immersive new technologies into practice and to bring data, people and experiences together to a renewed driving force of business projects. ”

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3D

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VIRTUAL REALITY

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AUGMENTED REALITY

Roberto Gemma, CEO of Altea UP (Altea Federation Group), commented:

“ In today's context where everything is developing, we are experimenting with new ways of collaborating and sharing where the Human-Tech combination breaks down any space-time barrier.

This moment is an important opportunity to encourage new organizational structures through the use of technologies that enable both local and remote collaboration, such as Vection Technologies’ solutions that represent a valid alternative to counteract the negative effects deriving from the isolation of business operators and the inability to attend their workplaces. Thanks to Vection Technologies’ product offering, and in particular with regard to FrameS, it is possible to undertake a path of cultural and technological transformation, which allows people to continue with their work, in an agile and flexible way, using technologically advanced and particularly efficient systems .”

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INDUSTRIAL IoT

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CAD

Dario Sorice, CEO of Fast Man Service Srl, commented:

" Vection Technologies’ solutions, with particular reference to FrameS and all other technologies that allow local and remote collaborative activities, represent an opportunity for companies to operate while in isolation. ”

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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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:

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

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3D

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VIRTUAL REALITY

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AUGMENTED REALITY

About Altea Federation:

Altea Federation is a top 30 Italian ranking software and IT services provider with 1,300 resources and a widespread presence in Italy and abroad. With significant revenue growth (€102M in 2018), Altea Federation is a prestigious partner brand of national and international businesses, partnering with key strategic companies in diverse industry sectors. www.alteafederation.it

About Fast Man Service:

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INDUSTRIAL IoT

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CAD

Fast Man Service designs innovative sorting systems for logistics, offering the most advanced technologies on the market, also for optimizing already operating systems, pursuing excellence in service and maintenance activities through close collaboration with their customers in order to respect delivery and acceptance plans in compliance with the most rigorous safety and reliability standards.

www.fastmanservice.com

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 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