VECTION TECHNOLOGIES LTD — Regulatory Filings 2021

May 23, 2021

24 May 2021 | Australia

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ASX RELEASE

VECTION PUBLIC HOSPITAL TRIAL MILESTONE COMPLETION

Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies , Vection or the Company ) is pleased to announce the completion of the first milestone as part of its public hospital trial (ASX: 21 September 2020).

The solution has enabled surgeons to visualise in their field of view (hand-free), in AR, all the data necessary for the surgery, including diagnostic images, surgery checklist, endoscopic video-feed, and more.

Highlights:

• XR solution deployed successfully within the operating theater

• view via AR

• Healthcare & Pharma technology portfolio ready to scale with Company’s focussed division

• Acceleration of the Company’s DX initiatives within the healthcare industry

Overview:

within the Italian public healthcare sector with the Luiss Business School, the creator of the Italian Model for Risk Management in Healthcare ( Healthcare Model ), to accelerate the promotion of its XR Healthcare solutions across the public and private healthcare sectors (ASX: 21 September 2020 and ASX: 2 November 2020).

the development of key features together with leading medical doctors, resulting in a software solution ready to be scaled across healthcare facilities. As part of this process, Vection’s XR solution has now been deployed live within the operating theater, and showcased with diverse medical doctors ready to adopt the solution in the near future.

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3D VIRTUAL REALITY

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AUGMENTED REALITY

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INDUSTRIAL IoT CAD

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Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041
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Figure 1 : Vection Holo Surgery Live feed (live screenshot)

Address: 642 Newcastle Street, Leederville WA 6007

Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy

North America Address: 785 Market Street, #600 San Francisco CA 94103 USA

Media Enquiries AUpress@vection.com.au EUpress@vection.com.au

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Phone: +618 6380 2555

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Following the launch of the Vection Healthcare and Pharma division (ASX: 11 March 2021), with initial agreements currently being negotiated with strategic partners, the Company expects to significantly advance its market penetration strategy within this sector in the coming months. As part of the necessary commercial marketing tool-set, the Company has launched its Healthcare technologies portfolio: https://youtu.be/tel4ymdGuOk

public hospital trial is deemed to be a material advancement of the Company’s technology development within the healthcare sector, heavily restricted by its high barriers to entry. The due process followed by the Company during the integration process is considered to be a strategic approach to ensure a first-mover advantage within the public healthcare sector while retaining the support of key decision makers towards a wider Digital Transformation ( DX ) approach.

Comments from medical professionals:

“Thanks to Vection's XR technologies, surgeons and hospitals can improve surgeries and patient outcomes while improving training and optimising procedures.” commented prof. Antonio Vittorino Gaddi, MD, PhD, President of the Italian Society of Digital Health and Telemedicine. “As these technologies swiftly move from early to mass adoption, it is truly exciting to see the making of the surgeon of the future, where patients’ medical imaging data is embedded directly in his or her field of view.”

“What is the real world for open surgery? The interactive enhanced 3D imagery is the light through all of that, thanks to the surgeon's eyes.” commented Dr. Giorgio Noera MD PhD Health Ricerca e Sviluppo.

“Virtual reality is becoming the gold standard for Surgery. The ability to study 3D scans before an operation helps the surgeon’s thorough preparation for each patient to implement proactive, time-saving and risk reduction procedures.” commented Dr Pier Luigi Spada, Surgeon at Policlinico Universitario Agostino Gemelli, Department of Surgery. “AR gives doctors quick access to a patient’s electronic health records, view data and makes it easier for surgeons to communicate. It is very memorable to see in AR and be able to scan in such detail the patient’s body, manipulate the procedure without risks for the patient, because you get to try a number of approaches and from there you can adapt to find the most effective way.”

Dr Carlo Centemeri, CEO of Vection Health, Medical Science Senior Adviser at the Ministry of Health of Italy, and Strategy & Development Senior Managing Partner at the Giovanni Lorenzini Medical Foundation, commented:

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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

“Virtual reality technology is on the rapid rise to change the way we think about Surgery, and Medical Doctors are using it to improve human health in novel ways. Surgeons employ virtual reality throughout their various processes in order to offer a higher quality of care and efficiency to patients and evolve the skill sets required for their advanced medical procedures.”

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

have met the strict requirements of medical professionals, solving real-life problems in an innovative way. We are looking forward to significantly progressing our strategy in this sector during the remainder of FY21 and into FY22.

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

Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy

North America Address: 785 Market Street, #600 San Francisco CA 94103 USA

Media Enquiries AUpress@vection.com.au EUpress@vection.com.au

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Address: 642 Newcastle Street, Leederville WA 6007 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

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 Technologies helps companies and organisations to innovate, collaborate and create value.

For more information please visit the Company’s websites:

vection.com.au

mindeskvr.com blankcanvas.studio

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

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3D VIRTUAL REALITY AUGMENTED REALITY INDUSTRIAL IoT CAD

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

Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy

Media Enquiries AUpress@vection.com.au EUpress@vection.com.au

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Address: 642 Newcastle Street, Leederville WA 6007 Phone: +618 6380 2555

North America Address: 785 Market Street, #600 San Francisco CA 94103 USA