SETTLEMENT OF JMC GROUP ACQUISITION

Real-time software company Vection Technologies Ltd (ASX:VR1) (Vection Technologies, Vection or the Company) is pleased to announce the successful completion of its acquisition of JMC Group Srl (JMC) , as previously announced on 15 June, 5 July and 30 July 2021.

Highlights:

• JMC Acquisition has successfully completed on 3 August 2021
• The acquisition is immediately value accretive - Combined Group would deliver revenues exceeding $10M (based on FY20 unaudited financials)
• All scrip deal at A$0.10 per share, represents a premium to current share price and demonstrates vendor’s long term commitment to Vection
• Consideration shares to be escrowed for 18 months
• Company fully funded to accelerate its global distribution strategy following this acquisition
• CEO to receive aggressive performance based remuneration, aligned with the Company’s overarching growth strategy
• Management to host an investor conference call today, Wednesday 4 August 2021, at 12pm AEST to provide an update of the Company’s business strategy and financial performance

VECTION CONTINUES MOMENTUM AND TCV GROWTH

VECTION ACHIEVES 215% QoQ CASH RECEIPTS GROWTH

Real-time software company Vection Technologies Ltd (ASX:VR1) (Vection Technologies, Vection or the Company) is pleased to update the market on its activities for the quarter ended June 2021 and as of 30 July 2021.

Highlights:

• 215% cash receipts growth, compared to the previous quarter, to ~$1M
• Continued strong growth in the month of July 2021, with ~$1M in cash receipts booked across the Company’s divisions (30 June 21 debtors: ~$3.1M)
• FY22 TCV~$1.8M further validates the Company’s Verticalization strategy and FY22 growth opportunity
• During the quarter, Vection assumed control of Blank Canvas and JMC Group via M&A activities, and operationally launched its Healthcare & Pharma division
• Company strategically positioned to drive unparalleled DX adoption globally with a strong enterprise solutions suite in VR, AR, 3D, Cloud Computing, AI, IoT and ICT technologies
• More than 100+ people globally servicing the European, American and Australian market
• Advisory Board established with Dr Haasis, former CIO of Mercedes-Benz, as its first member to drive growth in the automotive sector
• Company fully funded to deliver on its growth strategy with $6.3M of cash at bank
• Management to host an investor conference call on 4 August 2021 at 12pm AEST