VECTION TECHNOLOGIES LTD

9 April 2026 Australia

Vection completes acquisition of DXLabs Acquisition of DXLabs adds immediate revenue and EBIT in Australia to Vection, strengthening APAC capability and unlocking cross-sell opportunities.

Overview

Vection Technologies Ltd (ASX:VR1, OTC:VCTNY, FRA: S1X), ("Vection" or the "Company"), a leading provider of INTEGRATEDXR[] and AI-powered digital transformation solutions, is pleased to announce that further to its announcements on 29 September 2025 and 31 March 2026, it has completed its acquisition of 100% of the shares in Digital Experience Labs Pty Ltd (“DXLabs”), a fast-growing Australian digital transformation and solutions business, with enterprise customers in government, insurance and adjacent sectors.

DXLabs help businesses build, optimise and scale their operations through digital transformation solutions and modern intelligence automation tools; complimentary to a business’s existing technology stack and AI technologies in general.

We expect going forward, all staff of DXLabs will be retained with the CEO, Mr Luis Nejo, committed to grow the business in key markets across Australia and Asia. Completion occurred at 9.00 am this morning.

Key Highlights

Vection has acquired acquire a fast-growing Australian based software company (39% revenue growth yoy for FY25) with key founder/CEO and all staff to be retained.
Financially, the acquisition adds an immediate: $3.5m of revenue and $0.8m EBIT to Vection.
Upfront consideration of $2.07m (being 63,109,756 fully paid ordinary shares in Vection (2.8x EBIT)). The shares were issued without shareholder approval under Vection's existing ASX Listing Rule 7.1 capacity.
18,292,683 shares issued as upfront consideration are subject to escrow for up to 3 years, to be released in 3 tranches – recourse for warranty and indemnity claims limited to escrowed shares.
An earn-out is payable, subject to DXLabs achieving the hurdles (at least 75% and up to 150% of FY2025 EBITDA performance). The earn out payment is capped at $2.1 million and is payable in ordinary fully paid shares in VR1. The earn out payment (if payable) is expected to be paid by 30 September 2026.
Integration is expected to be complete within a month.
Transaction strengthens Vection's Australian delivery team with more live enterprise customers in insurance, logistics, lending and other automation-driven industries, including government.
Unlocks meaningful cross-sell opportunities by combining VR1’s AI and spatial computing solutions with DXLabs’ specialisation in automation and integration platforms.

Vection will lodge an Appendix 2A with the ASX in respect of the shares issued.

TRANSACTION DETAIL

Upfront scrip at completion: $2,070,000 (by way of 63,109,756 fully paid VR1 shares), calculated as $2.07m ÷ $0.0328.
18,292,683 shares issued as upfront consideration are subject to escrow for up to 3 years, to be released in 3 tranches – recourse for warranty and indemnity claims limited to escrowed shares.
Performance-based equity earn-out: additional VR1 shares valued at $300,000–$2,100,000 (for 75%150% of FY2025 EBITDA performance) based on FY2026 EBITDA versus a $0.55m Target EBITDA, valued using the 5-day VR1 VWAP ending 5 ASX trading days before VR1’s 30 June 2026 results (rounded).
Advisory Fee: 6% of total consideration in VR1 shares.
Closing accounts: standard net debt/debt ‑ like adjustments (incl. >120 ‑ day payables, overdue fiscal obligations; ATO payment plans excluded).

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

WEBSITE

www.vection-technologies.com

GLOBAL OFFICES

REGISTERED OFFICE

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

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AUTHORISATION:

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

ENDS

INVESTOR RELATIONS CONTACT DETAILS:

Cameron Petricevic - Independent, Non-Executive Director (Australia Based) Email: [email protected]

Lorenzo Biagi - Executive Director (Europe Based) Email: [email protected]

Gianmarco Biagi - Managing Director (Europe Based) Email: [email protected]

ABOUT VECTION TECHNOLOGIES:

Vection is a global technology company specializing in Extended Reality (XR) and Artificial Intelligence. We design integrated digital ecosystems that combine XR, AI, and 3D data to transform how enterprises train people, design products, support operations, and engage customers. Through immersive experiences, digital humans, and intelligent platforms, we enable organizations to optimize processes, enhance collaboration, accelerate decisionmaking, and create measurable business value across the entire enterprise lifecycle. Vection is listed on the Australian Securities Exchange (ASX) with ticker code VR1, and trades on the U.S. over-the-counter (OTC) markets under the symbol VCTNY and is also listed on Germany’s Frankfurt Stock Exchange under the ticker S1X.

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

ABOUT DXLABS:

DXLabs helps enterprise and government organisations build scalable and sustainable automation into their processes leveraging modern no-code. It partners with modern enterprise solutions like Workato, Decisions, ServiceNow, AWS, Microsoft, Riverbed and more, with published case studies for Money3, Fidelity Life, Solution Underwriting (CFC) and others across ANZ.

For more information, please visit: https://dxlabs.com.au

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's current expectations, estimates and projections about the industry in which Vection 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, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Vection cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of Vection 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 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.