VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020

Mar 9, 2020

10 March 2020 | Australia

ASX RELEASE

INVESTOR UPDATE – CORONAVIRUS

Real-time software company Vection Technologies Ltd (ASX: VR1 ) ( Vection or the Company ) confirms that its Italian and European operations are progressing strongly despite the coronavirus public health emergency.

Highlights

• Italian and European operations are progressing strongly despite the coronavirus public health emergency

• Multinational clients have been active and collaborative from their global offices

• Vection remains committed in providing real-time technologies for remote collaboration to companies globally

• Vection to assist affected businesses with extended free trial period for its VR remote collaboration tool FrameS

• Mindesk acquisition progressing well with initial European and U.S. combined sales initiatives underway

Operations Update

In response to the recent coronavirus outbreak in Italy, Vection is actively focussing in assisting companies in their remote collaboration initiatives while managing remote teams. Via a targeted promotion launching this week, Vection seeks to contribute back to the community and to society in this critical moment.

Vection will provide FrameS with an extended 2 months free trial period to businesses managing remote teams with people staying home in order to avoid potential infection. The use of this virtual reality tool has the ability to ensure communication and business continuity during this period of uncertainty.

The Company remains fully operational and continues its daily operations with its multinational and local clients.

Mindesk Acquisition

The Company has commenced initial combined sales initiatives with Mindesk within Europe and the U.S. as part of its global sales strategy. The acquisition is progressing well, and the Company will update the market in due course.

Gianmarco Biagi, Managing Director of Vection, commented:

“We are committed to supporting our clients to ensure business continuity during this challenging time. We believe that the use of real-time technologies such as virtual and augmented reality have the potential to ensure collaboration between people staying at home.

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

Asia Pacific Europe Media Enquiries Address: Suite 1, 437 Roberts Road Address: Via Isonzo 61 AUpress@vection.com.au Subiaco WA 6008, Australia 40033 Casalecchio di Reno (BO), Italy EUpress@vection.com.au Phone: +618 6380 2555 Phone: +39 051 0142248

Here at Vection Technologies we are closely monitoring the coronavirus public health emergency and remain committed to the safety of all our and our clients’ employees. Our operations are continuing despite the emergency, with all necessary precautions.”

For more information: For media enquiries:

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Gianmarco Orgnoni Henry Kinstlinger Director & COO +61 8 6380 2555 +61 2 9251 7177 gianmarco.orgnoni@vection.com.au vection@mmrcorporate.com

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

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