VECTION TECHNOLOGIES AND BEDSHED TO REVOLUTIONISE RETAIL WITH 3D

PERTH,Australia,May 3,2023 --Vection Technologies (ASX:VR1,OTC:VCTNY),the INTEGRATEDXR®company,and Bedshed,one of Australia's largest mattress,bedding and bedroom furniture retailers. announce today a partnership that is transforming the way retailers showcase their product range.

Bedshed has embraced the 3D revolution by partnering with Vection Technologies' dedicated subsidiary,Blank Canvas Studios,to supplement their traditional photography with 3D-powered computer-generated imagery (CGI) to showcase furniture product. This innovative solution involves the creation of 3D bedroom 'sets' to populate with Bedshed's range of furniture,from 'Hamptons' to 'French Provincial','Industrial','Urban',and 'Kids' themes. The 3D sets are designed by Blank Canvas Studios' interior design and 3D artistry teams to appeal to a diverse range of consumer demographics.

Bedshed products are then modeled in 3D and rendered in photorealistic detail for use across the brand's suite of marketing collateral. The flexibility of CGI and highly detailed 3D models allows Bedshed to showcase its bedroom furniture from any angle,highlighting styling highlights,finishes,and key product features like USB charging stations and under-bed gas lift storage.

A 3D virtual bedroom set populated with a suite of 3D modelled Bedshed furniture products.

The benefits of this innovative solution are numerous: Bedshed is experiencing a reduction in costs compared to traditional photoshoots,as well as increased creative flexibility,resource efficiency,and budget maximization. The CGI solution allows the retailer to actively promote and sell products that have yet to even arrive in Australia.

The partnership between Vection Technologies and Bedshed represents a significant shift in the way retailers showcase their products. By embracing the 3D revolution,Bedshed is leading the charge in the retail industry and redefining what's possible.

"To be able to create unlimited combinations of bedroom backdrops and product suites adds enormous value to the business. We're saving time and money while elevating the level of presentation of our products," commented Louise Kaminskis,Bedshed's Assistant Marketing Manager. "Our franchisees were blown away by the realism. We presented the first set of renders without comment,and they all believed it was photography. This validates what we believe is a really innovative marketing approach."

"Bedshed's forward-thinking approach has made them one of the first movers in the 3D revolution,setting a new standard in the retail industry," said Paul Clayton,Vection Technologies' APAC CEO. "When combined with the immersive power of AR/VR and cloud 3D,this technology offers customers a shopping experience like no other,driving increased online and in-store sales."

ABOUT VECTION TECHNOLOGIES:

Vection Technologies is a growing enterprise-focused company that helps businesses bridge the physical and digital worlds. We help organizations 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. over-the-counter (OTC) markets under the symbol VCTNY.

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

ABOUT BEDSHED:

Bedshed is one of Australia's largest mattress,bedding and bedroom furniture retailers,helping Australians create their perfect bedroom for over 40 years. With over 40 showrooms nationally,the majority of which are locally owned and operated,Bedshed boasts a 5 star franchisee statisfaction rating by Independent researcher FRANdata Australia.

Bedshed is a brand of Joyce Corporation (ASX: JYC). an ASX-listed company operating and invested in a portfolio of businesses that help Australians add value to their greatest asset,the family home.

For more information,please visit:www.bedshed.com.au and www.joycegroup.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 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,and guidance or outlook on future earnings,distributions or 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 forward-looking 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.