XTPL S.A.

Earnings Release • Oct 18, 2023

Title:Preliminary estimates of revenues from the sale of productsand services for Q3 and 9 months of 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 thethird quarter and 9 months of 2023.

1. Estimated consolidated revenues from the sale of the Company'sproducts and services in the third quarter of 2023 were PLN 3,678thousand. In the same period of the previous year, the revenues were PLN3,666 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 for 9 months of 2023 are PLN 9,210 thousandcompared to PLN 6,636 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 in 2023 was PLN 1,300 thousand compared to PLN 786 thousand in thethird quarter of 2022. On a year-to-date basis, this figure stands atPLN 2,700 thousand compared to PLN 3,042 thousand for 9 months of 2022.The Issuer's Management Board points out that in accordance with therules for accounting for those grants, part of the above proceeds willbe included in the Company's income statement for Q3 2023, while theremainder will be recognized in the balance sheet as deferred income.

The Company's estimated cash balance as of September 30, 2023 was PLN31,600 thousand, compared to PLN 2,967 thousand as of June 30, 2023. Thelevel of cash was significantly affected by the issue of series V sharescompleted on July 12, 2023 (ESPI Current Report No. 37/2023 dated July12, 2023), as a result of which the Issuer raised PLN 36,575 thousand.The funds raised from the share issue are to be used to co-finance partof the planned investments for a total of about PLN 60 million in2023-2026 in three key business areas: sales, production and R_amp;D.

In the same period of 2022, the cash balance was PLN 3,358 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 2023 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.