VECTION TECHNOLOGIES LTD — Capital/Financing Update 2024

Oct 9, 2024

10 October 2024, Australia

ASX RELEASE

$3.6m XR SOFTWARE LICENSES DISTRIBUTION AGREEMENT

Vection Technologies Ltd (ASX:VR1, OTC:VCTNY), ("Vection" or the "Company"), the INTEGRATED XR[] company, is pleased to announce the execution of a binding $3.6m XR software licenses distribution agreement with Cometa SpA, a leader in the education sector.

HIGHLIGHTS:

• Vection secures $3.6m in XR software licenses sales.

• Agreement with Cometa, a national leader serving over 2,500 high schools.

• Vection and Cometa to deliver immersive classroom solutions to 500 high schools in Italy by FY25.

OVERVIEW:

Cometa is a leading national provider of innovative educational solutions with an annual turnover of $280 million. It serves over 2,500 high schools across Italy. As part of an exclusive agreement, Cometa will distribute Vection’s 3DFrame and Enworks software packages to 500 high schools by the end of FY25, in line with the Italian PNRR "Next Generation EU Classrooms and Labs" initiative.

3DFrame offers an XR platform for interactive 3D model creation, enabling students to engage with immersive educational content. Enworks complements 3DFrame by allowing educators to design complex manuals in real-time within immersive XR environments.

This partnership, supported by Italian PNRR funds, is anticipated to generate approximately $3.6 million in revenue during FY25.

Gianmarco Biagi, Managing Director of Vection, said: “We are thrilled to announce our partnership with Cometa, a leading company in the education market, to introduce state-of-the-art XR solutions to high schools across the country. This collaboration, backed by Italy's PNRR education funds, marks a significant achievement for Vection as we broaden our footprint in the educational technology industry. Leveraging Cometa's extensive network of over 2,500 schools, we aim to revolutionise 500 high schools by June 2025 with our exclusive 3DFrame & Enworks software package.”

The distribution agreement, effective from October 1, 2024, extends across all Vection Technologies' IP and will be promoted by Cometa to over 6,000 active dealers for three years.

MATERIALITY THRESHOLD:

This announcement is deemed material by the Board as it exceeds the Company’s Announcement Materiality Threshold. The Announcement Materiality Threshold is for individual or multiple contracts cumulatively equating to more than $500k in Revenue.

AUTHORISATION:

This ASX release is authorised by the Board of Directors of Vection Technologies Limited.

ENDS

VECTION TECHNOLOGIES LTD

ASX:VR1; OTC:VCTNY | ACN: 614 814 041

WEBSITE

www.vection-technologies.com

GLOBAL OFFICES

PERTH | SYDNEY | SAN FRANCISCO | MILAN | BOLOGNA | ROME | BARI | ABU DHABI | AHMEDABAD

REGISTERED OFFICE

Level 4, Building C, Garden Office Park, 355 Scarborough Beach Road, Osborne Park WA 6017 - Australia

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INVESTOR RELATIONS CONTACT DETAILS:

Gianmarco Biagi - Managing Director (Europe Based) Email: gianmarco.biagi@vection-technologies.com Phone: +39 051 014 2248

Gianmarco Orgnoni – Non-Executive Director (Australia Based) Email: gianmarco.orgnoni@vection-technologies.com Phone: +61 8 6380 7446

ABOUT VECTION TECHNOLOGIES:

Vection Technologies is a growing enterprise-focused company that helps businesses bridge the physical and digital worlds. We help organisations leverage their 3D data via powerful extended reality (XR) interfaces that foster collaboration and learning, grow sales and more.

Vection Technologies is listed on the Australian Securities Exchange (ASX) with ticker code VR1, and trades on the U.S. overthe-counter (OTC) markets under the symbol VCTNY.

For more information, please visit: www.vection-technologies.com

FORWARD-LOOKING STATEMENTS:

Certain statements made in this release are forward-looking statements. These forward-looking statements are not historical facts but rather are based on Vection Technologies' current expectations, estimates and projections about the industry in which Vection Technologies operates, and beliefs and assumptions. Forward-looking statements can generally be identified by the use of forward-looking words such as 'anticipate', 'believe', 'expect', 'project', 'forecast', 'estimate', 'likely', 'intend', 'should', 'will', 'could', 'may', 'target', 'plan' and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, guidance, or outlook on future earnings, distributions, financial position, or performance are also forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the control of Vection Technologies, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forwardlooking statements, which reflect the view of Vection Technologies only as of the date of this release. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Vection Technologies has no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.

VECTION TECHNOLOGIES LTD

ASX:VR1; OTC:VCTNY | ACN: 614 814 041

WEBSITE

www.vection-technologies.com

GLOBAL OFFICES

PERTH | SYDNEY | SAN FRANCISCO | MILAN | BOLOGNA | ROME | BARI | ABU DHABI | AHMEDABAD

REGISTERED OFFICE

Level 4, Building C, Garden Office Park, 355 Scarborough Beach Road, Osborne Park WA 6017 - Australia

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