XTPL S.A.

Earnings Release • Oct 17, 2022

Title: Preliminary estimates of revenues from the sale of products andservices for Q3 and 9 months of 2022.Legal basis: Article 17(1)MAR - inside information

Content:

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 third quarter and 9months of 2022.

1. Estimated consolidated revenues from the sale of the Company'sproducts and services in the third quarter of 2022 were PLN 3,665thousand. In the same period of the previous year, the revenues were PLN70 thousand. This figure does not include proceeds on account of grantsrelated to the Issuer's implementation of research and developmentprojects.

2. Estimated consolidated revenues from the sale of the Company'sproducts and services for 9 months of 2022 are PLN 6,635 thousandcompared to PLN 213 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 third quarterof 2022 was PLN 700 thousand compared to PLN 876 thousand in the thirdquarter of 2021. On a year-to-date basis, this figure stands at PLN3,077 thousand compared to PLN 2,598 thousand for 9 months of 2021. 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 Q3 2022, while theremainder will be recognized in the balance sheet as deferred income.

The increase in commercial revenues and the higher grant proceeds had asignificant positive impact on the Company's cash position. Theestimated value of the Company's cash and cash equivalents as at 30September 2022 was PLN 3,240 thousand compared to PLN 3,465 thousand asat 30 June 2022. This means that cash and cash equivalents decreased byapprox. PLN 225 thousand. For comparison, in the corresponding period of2021, cash and cash equivalents decreased by PLN 1,754 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 in all threebusiness lines: industrial implementations, sale of Delta PrintingSystem devices and sale of nanoinks.

The above preliminary consolidated revenues from the sale of productsand services achieved in the third quarter and for 9 months of 2022 areconsidered confidential information by the Issuer due to a significantchange in their 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.