XTPL S.A.

Business and Financial Review • Mar 30, 2023

Title:

The Company completes key elements of the fourth stage of the technologyphase under the agreement with Nano Dimension Ltd.

Legal basis:

Article 17(1) MAR - inside information.

Content of the Report:

With reference to Current Report No. 3/2022 of 10 January 2022concerning a cooperation agreement ["Agreement"] signed with NanoDimension Ltd. ["Nano Dimension", "Client"] and Current Reports No.10/2022 of 11 April 2022 and No. 22/2022 of 13 July 2022 and CurrentReports No. 35/2022 of 15 November 2022, the Management Board of XTPLS.A. ["Issuer", "Company", "XTPL"] informs that on 29 on March 2023, theparties to the Agreement agreed that the key elements of the fourthstage of development works as part of the technological phase of theactivities specified in the Agreement were successfully implemented. Theparties agreed that accepting the key works at this stage triggers thepayment for the Company in the amount corresponding to the completedelements and in accordance with their valuation. Revenues from this willbe recognized in the first quarter of 2023 and will significantly affectthe financial results in this period.

The parties also agreed to continue work on the remaining elements ofthe fourth stage of research and development in accordance with theAgreement and began jointly defining subsequent phases of commercialcooperation, including further orders to develop a method for producinga special formulation of electrically conductive ink for industrial usein the Customer's products dedicated for the production of PCBs.

The Issuer's Management Board has decided that the completion of theabove stage of work is inside information due to its significant valuein the context of the Company's current business and its futuredevelopment. Establishment of the Issuer's cooperation and performanceof the Agreement with the industrial partner in the nanoinks businessline is also testament to the continued commercialization potential ofthe XTPL technology, which in the longer perspective may support itsimplementation on the production lines of other global players in themarket of modern electronics.

The cooperation also confirms the Issuer's ability to generate revenuesfrom the sale of products customized to the needs of individual clients,based on an advanced, proprietary technology of producing nanomaterialsdedicated to the next generation electronics industry.

Accordingly, in the Management Board's opinion, the information onachievement of the stated milestone under the Agreement meets thecriteria of inside information within the meaning of Article 7(1) MAR.