XTPL S.A.

Earnings Release • Jan 19, 2024

Title: Preliminary estimates of revenues from the sale of products andservices for Q4 and year 2023.

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

Content of the Report:

The Management Board of XTPL S.A. [_quot;Issuer_quot;, _quot;Company_quot;, _quot;XTPL_quot;]announces information on preliminary estimated consolidated revenuesfrom sales of products and services achieved by the Company in Q4 andfor 2023.

1.The estimated value of the Company's consolidated revenues from salesof products and services in Q4 2023 amounted to PLN 4,402 thousand. Inthe same period of the previous year, revenues amounted to PLN 3,406thousand. This amount does not include revenues related to the executionof grants related to the Issuer's research and development projects.

2.The estimated value of consolidated revenues from sales of theCompany's products and services for 2023 amounted to PLN 13,573thousand, compared to PLN 10,042 thousand reported in the previous year.The reported value does not include revenues related to the execution ofgrants related to the Issuer's research and development projects.

The value of funds raised by the Company from the implementation ofgrants in Q4 2023 amounted to PLN 700 thousand, compared to PLN 2,874thousand in Q4 2022. Cumulatively, the value amounted to PLN 3,400thousand, compared to PLN 5,916 thousand in 2022. The Issuer'sManagement Board notes that in accordance with the rules of accountingfor this type of subsidy, part of the above-mentioned funds will berecognized in the Company's income statement, while the remainder willbe recognized in the balance sheet, in the position of deferred income

The Company's estimated cash balance as of December 31, 2023 was PLN27,100 thousand, compared to PLN 31,743 thousand as of September 30,2023. The level of cash was significantly affected by the issue ofseries V shares completed on July 12, 2023 (ESPI Current Report No.37/2023 dated July 12, 2023), as a result of which the Issuer raised PLN36,575 thousand. The funds raised from the share issue are to be used toco-finance part of the planned investments for a total of about PLN 60million in 2023-2026 in three key business areas: sales, production andR_amp;D.

At the end of 2022, the cash balance was PLN 3,358 thousand.

The increase in the Issuer's presented estimated revenue from sales ofproducts and services is due to the progress in the commercialization ofthe Company's technological solutions in all three business lines:industrial implementations, sales of Delta Printing System equipment andsales of nanoinks.

The Issuer considered the preliminary consolidated revenues from salesof products and services achieved in the fourth quarter and for 2023presented above as confidential information due to the significantchange in their level relative to the revenues generated in the sameperiod of the previous year.

The Company's Management Board emphasizes that the data presented aboveare estimates and preliminary, which means that they may ultimatelydiffer from those presented in the interim report.