shaping global nanofuture

XTPL S.A. – INVESTORS’ PRESENTATION Q4 2017

Dr. Filip Granek, CEO

Maciej Adamczyk, COO

Date: 14 – 02 -2018

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OVERVIEW

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COMPANY PROFILE

XTPL S.A. is a company operating in the nanotechnology segment.

The interdisciplinary team of XTPL develops on a global scale an innovative

technology, protected by international patent application, enabling ultra-

precise printing of nanomaterials. XTPL’s solution has all the features

of so-called disruptive technology and will be consistently developed

as part of advanced research & development works aimed at defining

further innovative application fields. The company is focusing now on the

fast paced commercialisation of its unique solutions.

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BIG PICTURE

Mission:

XTPL is the leader in providing nanoprinting capabilities. We are shaping global nanofuture.

Vision:

We will support companies to outperform on their markets by using XTPL’s unique expertise & solutions in nanoprinting.

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TEAM STRENGHT

TECHNOLOGY

Key to success is the interdisciplinary, well-balanced team. Technical section consists of highly skilled professionals with vast experience in:

• chemistry• physics• electronics• mechanics• material science• numerical simulations

10 PhDs in the team

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TEAM STRENGHT

BUSINESS DEVELOPMENT, MARKETING& MANAGEMENT

XTPL’s business section possess know-how & experience in:

• product development• marketing & communication• implementing innovation• finance• B2B sales• capital market

... with proven successes, acquired on international markets

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TECHNOLOGY OVERVIEW - XTPL’S SOLUTION

Nanoprinting system designed by XTPL makes it possible to precisely apply

to the printing surface a special ink specifically formulated for this purpose

in the company’s laboratories. Under the influence of an external electric

field, the nanoparticles in the ink create conductive lines according to the

specified parameters. As such, the thickness of the individual lines, their

length and the distance between them all vary depending on a specific

application. XTPL creates complex numerical models and uses advanced

characteristics of nanoink and printed lines. This allows the company to

constantly optimize its innovative technology and adapt the process to

different implementation requirements.

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TECHNOLOGY OVERVIEW – NANOPRINTING

XTPL Ag Line

human hair

ultra-precise printing of electrodes up to several hundred times thinner than a human hair, invisible even for the light

our technology will revolutionise sectors such as: printed electronics, solar cells, touch screens, wearable electronics, smart packaging, automotive, biosensors, medical devices, anti-counterfeiting & open defect repair

submicron conductive line

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TECHNOLOGY OVERVIEW - ADVANTAGES

COMMON MATERIAL BASED

Low-cost technology

and

1 µm

SINGLE STEP APPROACH

ADAPTABLE FOR DEFINED APPLICATION

NO SPECIFIC CONDITIONS

RCQUIRED

+ printing on any kind of substrate

+ high transparency & conductance

+ wide range of lines’ thickness

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PROTECTED INTELLECTUAL PROPERTY

XTPL's printing method and the ink

formula are covered by the patent

application submitted in collaboration with

the British law firm, Gill Jennings & Every

LLP. The patent protection will be

extended to around 30 countries.

Gill Jennings & Every LLP, London UK

Unique printing methodUnique nano-ink

Patent cloud

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APPLICATION SEGMENTS FOR XTPL’s TECHNOLOGY

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APPLICATION SEGMENTS FOR XTPL’s TECHNOLOGY

VERIFIED APPLICATION SEGMENTS

OPEN DEFECT REPAIR - removing broken metallic links for:

• Display matrix (TFT)

• Silicon photovoltaic cells

• PCBs

• MCM multichip modules

• Integrated circuits

• Photolithographic masks

TRANSPARENT CONDUCTIVE FILMS (TCF) for:

• Displays• Thin film photovoltaic cells• Touchscreens or smartphones

APPLICATION SEGMENTS TO BE CONSIDERED

• Biosensors

• Lab-on-a-chip solutions

• Smart packaging solutions

• Wearables

• Anti-counterfeiting solutions

• Wide range of printed electronics

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OPEN DEFECT REPAIR – REMOVING LOCAL DEFECTS IN METALIC LINKS

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There is a demand for a new technology for repairing damaged conductive structures

XTPL’s technology will address those requirements byeliminating all the disadvantages of current methods

20 μm

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OPEN DEFECT REPAIR –MARKET ANALYSIS

Target market

• TFT Producers (LG, Samsung, Chimei Innolux, AU

Optronics, BOE)

• Silicon PV cells producers (Hanwha Qcells, JA

Solar, Trina Solar, First Solar, Jinko Solar, Motech,

Tongwei Solar, Yingli Solar, Shunfeng)

• PCB producers (Daeduck, Ibiden, Nippon Mektron,

SEMCO, Tripod, TTM, Unimicron, Young Poong,

Zhen Ding, Nan Ya Printed Circuit Board, Hannstar

Board Technology, Kingboard Chemical Holdings,

CMK oraz Multek)

• Integrated circuits producers (Intel, Samsung,

TSMC, SK Hynix, Qualcomm, Micron,

Avago/Broadcom, TI, Toshiba i NXP/Freescale)

• Photolithographic masks producers

(Compugraphics, Advance Reproductions

Corporation, Dai Nippon Printing, Toppan

Photomasks, Photronics Inc, Hoya Corporation,

Taiwan Mask Corporationi Nippon Filcon)

Market Size

4,5 bn USD, 8% CAGR

Source: own calculations based on Focused ion beam

market - global industry analysis, size, share, growth,

trends and forecast 2015 - 2021,” Transparency Market

Research, 2015

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Entry path

Building partnership and strategic alliance with well-

established players/ Joint Development Agreements

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OPEN DEFECT REPAIR - CURRENT STANDARD

Current technology

extremely complex (LCVD, FIB)

uses toxic and hazardous gases (LCVD)

long processing time (LCVD, FIB, DLD)

No alternative…?

yes !there is

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LCVD (Laser Chemical Vapour Deposition), DLD (Direct Laser Deposition), FIB (Focused Ion Beam)

limited possibility to obtain 10 µm and less (LCVD, DLD);

destruction of the active systems in integrated circuits (FIB)

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OPEN DEFECT REPAIR – XTPL’S VALUE PROPOSITION

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XTPL’S TECHNOLOGY

will address those

requirements

by eliminating all the

disadvantages of current

methods

There is a demand for

a new technology

for repairing damaged

conductive structures

cost-effective repair of the severed

lines

reduced width of the printed conductive lines with concurrent reduction of the distances between them

increased total length of the conductive lines

reduction of mechanical, thermal & electromagnetic stress during production & repair process

allows for low cost repair

does not require any toxic substances

is aimed to ensure high efficiency for industrial use

REQUIREMENTS

ADVANTAGES

TRANSPARENT CONDUCTIVE FILMS – MARKET ANALYSIS

Target market

Display manufacturers (70% of the TCF market)

the market is dominated by several companies that

provide displays on a mass scale:

• Samsung Electronics, LG from South Korea,

which alone constitute 50% of the market

• E-Ink Holdings and AU Optronics from Taiwan

• Panasonic Corp. and Sony Corporation from Japan

• American companies: Atmel, Corning, Plastic Logic,

DuPont Display and Hewlett Packard

• Among the European entities, you can indicate

Philips based in the Netherlands

Market Size

Size and perspectives: 6 bn USD, 6,6% CAGR

Source: Transparent Conductive Films (TCF) 2016-

2026: Forecasts,Markets, Technologies, ID Tech EX,

Statista, Fraunhoffer ISE, own calculations. Potential

market for XTPL technology: 1.560 m USD:

200 m USD – printheads, 1.360 m USD – nanoink

Entry path

Building partnership and strategic alliance with

well-established players / Joint Development

Agreements

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TRANSPARENT CONDUCTIVE FILMS – CURENT STANDARD

Current technology

multistep, complicated process

low optical transparency & low conductance

expensive – based on rare element - idium

No alternative…?

yes !there is

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lack of flexibility

TRANSPARENT CONDUCTIVE FILMS – XTPL’S VALUE PROPOSITION

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XTPL has developed

such technology and is

currently implementing

it – the solution

ensures:

Operation of displays,

solar cells, touchscreens

or smartphones include

among others

application of

transparent conductive

films (TCFs)

highest possible

neutrality to light

(absorbed or emitted

by the device)

highest conductance

parameters

full transparency

excellent conductance parameters

low production costs due to the use of commonly available materials i.e. silver) that can provide the sought-after technological independence from indium

REQUIREMENTS

ADVANTAGES

flexibility of the conductive films, which will enable electronics manufacturers to develop and provide new generation of revolutionary solutions to customers

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BUSINESS MODEL

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STAGES OF COMMERCIALIZATION

• Developing a lab prototype of the printer & a printer-compatible nano ink formula

At this stage, company did not generate any operating revenue; most of its operations were financed from external sources, such as grants, subsidies and funds obtained from the issue of shares.

STAGE I (completed)

Prototype development.

• MVP on offer (minimum viable product) in the form of a lab printer

• Lab printer is designed for R&D centres of business & scientific entities.

• Validation the technology & showcasing it to the research & development departments of prospective customers,

• Building technological relationships & allowing customers to create prototypes

• Defining other potential uses for specific application areas

First revenues to be expected a) sale of lab printers & nanoinks b) concluding joint development agreements (JDAs) for technology development

• Providing full solutions for the industry • Industrial printer will differ from the lab printer

in terms of size, functionality (better performance) & technological maturity

• Direct sales of the nanoink & print heads, as well as implementation the technology at the customer's site (technological consulting).

Revenues are to be generated from the sale of print heads (one-off revenues), sales of nanoinks (recurring revenues), & from the sales of dedicated implementation services (one-off revenues).

STAGE II (underway)

Sale of equipment to R&D centers & conclusion of JDAs.

STAGE III

Sale of the industrial equipment and provision of the complexed solutions.

2017 2018-2019 Q3 2019 >

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TARGET BUSINESS MODEL

INK

FINAL SOLUTION CLIENT

XTPL / manufactured by a subcontractor

PRINTER

PRINTING HEADXTPL

The printing head will be produced by XTPL to protect the know-how and for business purposes: it will allow to maintain direct communication with the market and its needs The printer based on the XTPL technology will be manufactured and delivered to XTPL by an external partner. The ink will be produced by an external partner acting as a subcontractor.

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XTPL / manufactured by an external partner

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TARGET DISTRIBUTION CHANNELS

Technology broker

R&D center

Direct sales

CLIENT

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FINANCIAL RESULTS

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P&L

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The name of the position Q4 2016 YTD Q4 2017 YTD

A. Net revenues from sales and equivalent, including: 38,58 2 205,90

- from subsidiaries and affiliates 0,00 0,00

I. Net sales revenues (including subsidies) 0,00 1 774,34

II. Change in the balance of products (increase – positive value, decrease – negative value) 38,58 431,56

B. Operating expenses 2 321,73 6 044,14

I. Depreciation and amortisation 295,63 469,88

II. The consumption of materials and energy 71,14 312,18

III. Outsourcing 928,80 2 239,52

IV. Taxes and fees, including: 13,05 47,37

V. Salaries 827,32 2 291,50

VI. Social security and other benefits, including: 155,00 394,61

VII. Other expenses by type 30,79 289,08

VIII. Value of sold goods and materials 0,00 0,00

C. Profit (loss) on sales (A-B) -2 283,15 -3 838,24

D. Other operating income 1,20 0,01

E. Other operating expenses 0,13 0,94

F. Profit (loss) on operating activities (C + D-E) -2 282,08 -3 839,17

G. Financial income 0,00 35,73

H. Financial costs 6,89 47,18

I. Gross profit (loss) (F+G-H) -2 288,97 -3 850,62

J. Income tax 0,00 0,00

L. Net profit (loss) (I-J-K) -2 288,97 -3 850,62

CASH FLOW

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Q4 2016 YTD Q4 2017 YTD

A. Cash flows from operating activities

I Net profit (loss) -2 288,97 -3 850,62

II. Total adjustments 403,22 179,62

1. Depreciation and amortisation 295,63 469,88

2. Profit (loss) due to exchange differences 0,00 0,00

3. Dividend and share in profits 0,00 36,17

4. Profit (loss) on operating activities 0,00 -35,73

5. Change in provisions 0,00 0,00

6. Change in inventory -94,93 87,98

7. Change in receivables -106,02 -143,66

8. Change in short-term liabilities excluding loans 352,61 304,41

9. Change in prepayments and accruals -5,49 -539,43

10. Other adjustments -38,58 0,00

III. Net cash flows from operating activities (I + II) -1 885,75 -3 671,00

B. Cash flows from investing activities

I Inflows 0,00 35,73

II. Outflows 231,99 617,24

1. Purchase of intangible assets and tangible fixed assets 231,99 617,24

III. Net cash flows from investing activities (I-II) -231,99 -581,51

C. Cash flows from financing activities

I Inflows 3 386,42 10 724,08

1. Net inflows from issuance of shares and other capital instruments and from capital contributions 2 894,96 9 389,33

2. Loans payable 350,22 1 265,95

4. Other inflows from financial activities 141,24 68,80

II. Outflows 0,00 1 682,26

4. Repayment of loans and advances 0,00 1 605,27

7. Payment of liabilities arising from financial leases 0,00 40,82

8. Interest 0,00 36,17

III. Net cash flows from financing activities (I-II) 3 386,42 9 041,82

D. Total net cash flows (A.III±B.III±C.III) 1 268,68 4 789,31

E. Balance sheet change in cash, including 1 268,68 4 789,31

F. Cash opening balance 152,26 1 420,94

G. Closing balance of cash (F±D), including 1 420,94 6 210,25

STOCK QUOTATIONS

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The company plans to become listed on the main market of the Warsaw Stock Exchange and to obtain the so-called ‘Single European Passport’. At the sametime, the Management Board of XTPL intends to pursue a secondary listing on the Open Market in Frankfurt (operated by Deutsche Börse). The dual listingwill bring XTPL closer to investors from Western Europe, an area that is one of the key directions for foreign expansion planned for 2018 in the process ofcommercialization of solutions offered by the company.

SHAREHOLDING STRUCTURE

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XTPL’s founders, Filip Granek and Sebastian Młodziński, as

well as the investor Konrad Pankiewicz (who finances the

company through the company Leonarto) control more

than 50% of votes at the General Meeting. The

shareholding structure also includes two German

investment funds, with over 5% of the share: Acatis

Investment GMBH and Heidelberger Beteiligungsholding

AG (a subsidiary of Deutsche Balaton AG).

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HIGHLIGHTS IN Q4

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ESTABLISHMENT OF BUSINESS DEVELOPMENT DEPARTMENT

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In Q4 2017 XTPL created department responsible for business development.

Thus, the next issue target put forward by the company in relation to the

public subscription of M series shares was implemented. The tasks of the

department include commercialization of developed technology, including

contacts with potential clients and partners, as well as searching for new

application areas.

The main short- and medium-term :

• sale of laboratory printers to a group of potential customers that meet the

criteria set out in the commercialization model.

• search for new partners for the development of technologies on specific

application fields - especially based on joint development agreements,

which assume the co-financing of R&D works by the future recipient of

the solution (JDA - joint development agreement).

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SIGNING ANOTHER CONTRACT FOR CO-FINANCING

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On December 13, 2017, the company signed a subsidy contract for a project

to develop demonstration prototypes of a laboratory printer under the

Regional Operational Program for the Lower Silesian Voivodship 2014-2020.

The goal of co-financed works will be the commercialization of laboratory

printers, including creating demonstrative prototypes of commercial

laboratory printers and compatible nanoinks. The project also assumes

internal and external tests of printers. The implementation of the assumed

works will be another fundamental step for the company towards

commercialization and marketing of the breakthrough printing technology for

ultrathin conductive lines for applications in the area of printed electronics.

The subsidy will amount to PLN 2 457 548,44, and the total project value is

PLN 4 508 627,22.

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PARTICIPATION IN PRINTED ELECTRONICS FAIRS IDTECHEX SHOW

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On 15 and 16 November 2017, the Issuer took part in the Printed

Electronics USA trade fair organized as part of the IDTechEx Show! in

Santa Clara (California, United States). XTPL’s technology of printing

ultra-precise conductive lines was very popular. The fair resulted in a

significant number of new contacts - buyers potentially interested in the

laboratory printers, as well as partners for the conclusion of joint

development agreements. During the Printed Electronics USA fair, the

company represented the newly created business development

department. The participation in the event itself was part of the issue

objectives and was financed from the funds raised under the M series

share public offering.

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PRESIDENTIAL ECONOMIC AWARD AT CONGRESS 590

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On November 16, 2017, during the 590 Congress in Rzeszów, President

Andrzej Duda honored the XTPL with the Economic Award of the President of

the Republic of Poland. The award is granted to companies that have a

significant impact on the development of the Polish economy and build a

positive image of the country around the world. The distinction was granted in

the special category Startup_PL, dedicated to enterprises existing on the market

for no longer than 5 years, which created product or technological innovation.

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FUTURE GOALS

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IMPLEMENTATION STATUS OF GOALS FOR THE PUBLIC OFFER

Task Current state

Set up of Business Development

Department, Sales Demartment and other

marketing activities

• Two business development leaders recruited (start: October/November)

• ID TechEX market survey done, April 2017

• Participation in IDTechEX Trade Fair – Printed Electronics, May 2017, Berlin

• Participation in Techinnovation Trade Fair, September 2017, Singapore

• Participation in IDTechEx Show! – Printed Electronics, November 2017, Santa Clara (USA)

Set up of application laboratories • First laboratory is operating;

• Development in progress (additional 2 lab printers and 2 researchers)

• New application segment verified (open defects repair)

Laboratory printers production for external

customers

• Internal alpha-tests in progress (lab printer and ink)

• Concluding conceptual work regarding β-version of the printer

Industrial printhead and printer prototype

development

• 2019

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MOST IMPORTANT STRATEGIC ACTIONS PLANED

ACTION TIMING

Assembly & internal complex test of β-version printer Q1 2018

JDA with mature players in verified application segments - leading to industrial implementation in the future 2018

Initiation of Advisory Board H1 2018

Patent family development 2018

Transition to the main market of stock exchange in Poland H1 2018

Parallel quotation on other European stock exchange (e.g. Frankfurt) H2 2018

Additional grant to enforce commercialization process 2018

Implementation of the new business development strategy 2018

XTPL SUBMICRON LAB PRINTER – β-VERSION CONCEPT

Lab Printer β-version will allow for:

• validation of the technology

• showcasing it to the research & development departments of prospective customers

• building technological relationships

• customers to create prototypes

• defining other potential uses for specific application areas

Key features:

Functionality: electrically conductive, optically, biologically and chemically active

Line width: from 100 nm to 3 μm

Line length: up to cm range

Aspect ratio: 1, in the single run of the printing head

Very low voltage applied: 5-30 V.A

Resistivity: 2 Ω /μm (for the line with the thickness of 1 μm), proof of concept manufactured featuring

20-40% bulk Ag (thickness 100-400nm)

Examples of applications: printed electronics, solar cells, touch screens, wearable electronics, automotive,

smart packaging, automotive, biosensors, medical devices, anti-counterfeiting & open defect repair

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WORLDWIDE RECOGNITION

Dr. Adam WeissCEO & PresidentWDI

Dr. Pierre VerlindenVP Chief ScientistTrinaSolar

Dr. Markus GlatthaarLeader of the Department of Novel ProcessesFraunhofer ISE

Dr. Homer AntoniadisGlobal Technology DirectorDuPont

“…make a clear value proposition for this market segment.”

“…if successfully scaled, would fit very well into the

Technological Roadmap…”

“…unique and very attractive feature

for next generation silicon solar cells.”

“We would consider the implementation

of the XTPL technology…”

SELECTED AWARDS & GRANTS

GRANTFINALISTWINNER

THE ECONOMY AWARD OF THE PRESIDENT OF THE REPUBLIC OF POLAND ANDRZEJ DUDA 2017

IDTECHEX PRINTED ELECTRONICSTECHNICAL DEVELOPMENTMANUFACTURING AWARD

MIT ENTERPRISE FORUM POLAND

CLIMATE KIC ACCELERATION PROGRAMM POLAND 2016

CLIMATE VENTURE SUMMIT

INPHO VENTURE SUMMIT

WOLVES SUMMIT

ABSL START-UP CHALLENGE

SME INSTRUMENTS

RPO

NCBR FAST PATH

PARP

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SUMMARY – MOST IMPORTANT ASSETS

GreatMarket

response

Clearstrategy

Strongteam

Globaltechnology

XTPL S.A.

Stabłowicka 147

54-066 Wrocław, Poland

xt-pl.com Thank You

investors@xt-pl.com

M. +48 717 072 204