26 November 2020 | Australia

ASX RELEASE

Real-time software company Vection Technologies Ltd (ASX:VR1) (Vection Technologies, Vection or the Company) is pleased to announce an initial collaboration with Trenitalia S.p.A., one of the leading railway operators in Europe and the primary train operator in , and a subsidiary of Ferrovie dello Stato Italiane S.p.A., owned by the Italian government. (Trenitalia)

Trenitalia seeks to introduce Vection’s Augmented Reality (AR) and remote maintenance technologies for its regional train fleet and across its whole value chain.

Highlights:

● Vection to introduce Augmented Reality and remote maintenance technologies across Trenitalia’s value chain ● Trenitalia is the primary train operator in Italy, with more than 9,000 trains, transporting each year more than half a billion travellers ● Trenitalia is a wholly owned subsidiary of Ferrovie dello Stato Italiane, owned by the Italian government

Overview:

Under this Memorandum of Understanding (MoU), Vection Technologies and Trenitalia seek to implement a pilot project for Augmented Reality (AR) maintenance, based on the Company’s Trainer Creator technology, for the regional train fleet and, in particular, for the “Rock” and “Pop” trains.

In parallel to this first pilot, Vection Technologies and Trenitalia will develop a shared digital transformation strategy focussed on Augmented Reality, remote assistance technologies and FrameS’ Virtual Reality (VR), across Trenitalia’s whole value chain.

Under the terms of this initial agreement: ● Vection will be in charge of the design, development and deployment of the solutions that will be defined in the final framework partnership agreement. ● Trenitalia will support Vection by providing its skills and the necessary know-how, as and where necessary, in order to ensure timely successful outcomes.

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

Asia Pacific Europe North America Media Enquiries Address: 642 Newcastle Street, Address: Via Isonzo 61 Address: 785 Market Street, #600 [email protected] Leederville WA 6007 40033 Casalecchio di Reno (BO), San Francisco CA 94103 [email protected] Phone: +618 6380 2555 Italy USA During the following months, Vection Technologies and Trenitalia will collaborate closely on defining a comprehensive framework partnership agreement to carry-out the objectives of the initial agreement, including financial and technical terms. This agreement is anticipated to be material for the Company based on the market significance of Trenitalia, one of the leading railway operators in Europe and the primary train operator in Italy.

ASX announcement authorised by Trenitalia.

Gianmarco Biagi, Managing Director of Vection Technologies, commented:

“The launch of this collaboration with Trenitalia is aligned with Vection Technologies’ enterprise digital transformation strategy, introducing our proprietary real-time technologies across the value chain to deliver tangible benefits for our clients. Through this initial agreement we aim to revolutionise Trenitalia’s maintenance processes, implementing modern and efficient processes fit for one of the leading railway operators in Europe.”

Vection Technologies Investor Relations Contact Details

Gianmarco Biagi - Managing Director (Europe Based) Email: [email protected] Phone: +39 051 0142248

Gianmarco Orgnoni - Director and COO (Australia Based) Email: [email protected] Phone: +61 8 6380 2555

ENDS

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

Asia Pacific Europe North America Media Enquiries Address: 642 Newcastle Street, Address: Via Isonzo 61 Address: 785 Market Street, #600 [email protected] Leederville WA 6007 40033 Casalecchio di Reno (BO), San Francisco CA 94103 [email protected] Phone: +618 6380 2555 Italy USA About Trenitalia:

Trenitalia is the railway transport company of the FS Italiane Group that ensures the mobility of people for regional and medium and long distance connections. Over 7 thousand Trenitalia trains travel every day on the Italian railway network. Committed to meeting people's needs, Trenitalia guarantees the highest safety standards and implements development plans in compliance with social and environmental sustainability. Trenitalia carries out regional and universal services, financed with specific service contracts with the State, Regions and Autonomous Provinces, and market services, in full commercial autonomy and without public contributions. In regional transport, the company is committed to offering increasingly effective and efficient services, raising its industrial performance, such as punctuality, regularity and customer information systems. In addition, it collaborates with public clients to optimize service planning, along with an authentic integration of collective and shared transport. The investment plan contains the purchase of new trains able to ensure more travel comfort for people who choose the train to get around every day. In fact, thanks to an economic investment of around 6 billion euros, 600 new trains have been ordered in view of renewing up to 80% of the regional fleet. Trenitalia is the first company in Italy to have launched high-speed services with the Frecce. It is committed to consolidating its competitiveness and leadership in the High Speed market by differentiating and increasing customer services with new connections and projecting itself onto the European railway markets. The transport company is also implementing a deep digitization process both to guarantee more and better services to all the people who choose the train and to have an optimal management of train maintenance thanks to the latest generation technologies that aim to favour the 'use of predictive diagnostics. Trenitalia works to consolidate its commitment to the world of culture and sport alongside prestigious events and institutions, facilitating mobility with frequent, capillary and national connections that answer passenger needs. Dedicated discounts and promotions allow them to visit exhibitions of national and international interest, exhibitions, concerts and sporting events throughout the territory. Abroad Trenitalia is present in Great Britain with Trenitalia UK, in with , in Greece with Trainose, in with and in Spain with the ILSA consortium. For more information please visit Trenitaliai’s website: https://www.trenitalia.com/en.html

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:

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

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

Asia Pacific Europe North America Media Enquiries Address: 642 Newcastle Street, Address: Via Isonzo 61 Address: 785 Market Street, #600 [email protected] Leederville WA 6007 40033 Casalecchio di Reno (BO), San Francisco CA 94103 [email protected] Phone: +618 6380 2555 Italy USA