XTPL S.A.

Business and Financial Review • Jul 17, 2024

Report Content Title: Preliminary estimates of revenues from the sale of products andservices for Q2 and H1 2024

Legal basis: Article 17(1) MAR - inside information

Content of the Report:

The Management Board of XTPL S.A. ["Issuer", "Company", "XTPL"] herebyreports preliminary estimates of the Company's consolidated revenuesfrom the sale of products and services for the second quarter and forthe first half of 2023.

1. Estimated consolidated revenues from the sale of the Company'sproducts and services in the second quarter of 2024 were PLN 2,787thousand. In the same period of the previous year, the revenues were PLN2,557 thousand. This figure does not include proceeds on account ofgrants related to the Issuer's implementation of research anddevelopment projects.

2. Estimated consolidated revenues from the sale of the Company'sproducts and services in the first half of 2024 are PLN 5,531 thousandcompared to PLN 5,532 thousand posted in the same period last year. Thisfigure does not include proceeds on account of grants related to theIssuer's implementation of research and development projects.

The value of grant proceeds obtained by the Company in the secondquarter of in 2024 was PLN 300 thousand compared to PLN 751 thousand inthe second quarter of 2023. On a year-to-date basis, this figure standsat PLN 418 thousand compared to PLN 1,356 thousand in H1 2023. TheIssuer's Management Board points out that in accordance with the rulesfor accounting for those grants, part of the above proceeds will beincluded in the Company's income statement for H1 2024, while theremainder will be recognized in the balance sheet as deferred income.

The estimated value of the Company's cash and cash equivalents as ofJune 30, 2024 was PLN 14,400 thousand, compared to PLN 19,400 thousandas of March 31, 2024, and was in line with the Company's assumptions andthe implemented Strategy for 2023-2026. The first half of 2024 was aperiod of investment in building and strengthening the organizationcapable of meeting the target of PLN 100 million in revenue from salesof products and services by the end of 2026.

The Company's Management Board emphasizes that the above figures areestimated and preliminary data, which means that they may ultimatelydiffer from those to be disclosed in financial statements.