XTPL S.A.

Earnings Release • Apr 18, 2023

Title:Preliminary estimates of revenues from the sale of productsand services for Q1 2023.

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

Content of the Report:The Management Board of XTPL S.A. ["Issuer","Company", "XTPL"] hereby reports preliminary estimates of the Company'sconsolidated revenues from the sale of products and services for thefirst quarter of 2023.

Estimated consolidated revenues from the sale of the Company's productsand services in the first quarter of 2023 were PLN 2,972 thousand. Inthe same period of the previous year, the revenues were PLN 930thousand. This figure does not include proceeds on account of grantsrelated to the Issuer's implementation of research and developmentprojects.

The value of grant proceeds obtained by the Company in the first quarterof 2023 was PLN 1,000 thousand compared to PLN 1,085 thousand in thefirst quarter of 2022. The Issuer's Management Board points out that inaccordance with the rules for accounting for those grants, part of theabove proceeds will be included in the Company's income statement for Q12023, while the remainder will be recognized in the balance sheet asdeferred income.

The estimated value of the Company's cash and cash equivalents as at 31March 2023 was PLN 3,720 thousand compared to PLN 3,705 thousand as at31 March 2022. This means that cash and cash equivalents decreased byapprox. PLN 2,290 thousand. For comparison, in the corresponding periodof 2022, cash and cash equivalents decreased by PLN 875 thousand.

The increase in the Issuer's estimated revenues from the sale ofproducts and services, as presented above, results from progress in thecommercialization of the Company's technological solutions. This haslargely led to e.g. another tranche of payment related to theimplementation of the technological work as part of cooperation withNano Dimension, revenues from the sale of Delta Printing System devices,and revenues connected with after-sales service, as well as the sale ofconductive nanoinks.

The above preliminary consolidated revenues from the sale of productsand services achieved in the first quarter of 2023 are consideredconfidential information by the Issuer due to a significant change intheir level compared to the corresponding period last year.

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.

The Company informs that, in accordance with the Best Practices of GPWListed Companies (application of rule 1.2. Companies make availabletheir financial results compiled in periodic reports as soon as possibleafter the end of each reporting period; should that not be feasible forsubstantial reasons, companies publish at least preliminary financialestimates as soon as possible), starting from this current report, willregularly publish estimated revenues from the sale of products andservices in current reports in quarterly periods, by the 25th day afterthe end of each quarter or on the first business day following this date.