XTPL S.A.

Earnings Release • Apr 18, 2025

Report Content Title:

Preliminary estimates of revenues from the sale of products and servicesfor Q1 2025

Legal basis:

Article 17(1) MAR - inside information

Content of the Report:

The Management Board of XTPL S.A. ["Issuer", "Company", "XTPL"]announces information on the preliminary estimated consolidated revenuefrom sales of products and services achieved by the Company in the firstquarter of 2025.

The estimated value of the Company's consolidated revenue from the saleof products and services in the first quarter of 2025 amounted to PLN2,144 thousand. In the corresponding period of the previous year,revenue amounted to PLN 2,744 thousand. The above figure does notinclude revenue related to the implementation of grants for the Issuer'sresearch and development projects.

In the first quarter of 2025, the Company did not obtain any new fundsfrom the implementation of grants. At the same time, it should beemphasized that as a result of the settlement of grants to assets, itmay recognize revenues from this title. At the end of 2023, XTPLcompleted the implementation of two grant projects. Currently, theCompany is implementing two international grant projects [Current Report7/2022 of March 31, 2022, and Current Report 1/2024 of January 12,2024]. At the same time, the Company announces that it is currentlyinvolved in several processes related to obtaining further grants forinnovative projects related to its operations. In the correspondingperiod of the previous year, the Company also did not obtain any grantfunds.

The estimated cash balance of the Company as at March 31, 2025 amountedto PLN 20.5 million. The change in cash compared to the estimatedbalance of PLN 27.6 million at the end of the fourth quarter of 2024results from the assumptions of the Strategy for 2023-2026 andinvestments in, among other things, increasing production capacity,expanding the team, and activities aimed at increasing sales insubsequent periods. As a result of these activities, in the firstquarter of 2025, the Company began the first-ever industrialimplementation of its technology and confirmed an order for the firstbatch (6 units) of Ultra-Precise Dispensing (UPD) modules for a directpartner - a leading Chinese manufacturer of machines for mass productionof FPD displays. The end customer for the solution using XTPL technologyis one of the largest display manufacturers in China, with annualrevenues of several billion USD. The first device was delivered in Q12025. The remaining revenue from the first industrial order will berecognized in subsequent reporting period of 2025.

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.

The planned publication date of the interim report for Q1 2025 is 28 May2025.