XTPL S.A. INVESTORS PRESENTATION Q4 2017

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1 shaping global nanofuture XTPL S.A. INVESTORS PRESENTATION Q Dr. Filip Granek, CEO Maciej Adamczyk, COO Date:

2 OVERVIEW 2

3 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 ultraprecise 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. 3

4 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. 4

5 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 5

6 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 6

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

7 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. 7

TECHNOLOGY OVERVIEW NANOPRINTING human hair submicron conductive line XTPL Ag Line ultra-precise printing of electrodes up to several hundred times thinner than a human hair, invisible even for the

8 TECHNOLOGY OVERVIEW NANOPRINTING human hair submicron conductive line XTPL Ag Line 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 8

9 TECHNOLOGY OVERVIEW - ADVANTAGES NO SPECIFIC CONDITIONS RCQUIRED ADAPTABLE FOR DEFINED APPLICATION SINGLE STEP APPROACH COMMON MATERIAL BASED Low-cost technology and + printing on any kind of substrate + high transparency & conductance 1 µm + wide range of lines thickness 9

10 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. Unique nano-ink Unique printing method Patent cloud Gill Jennings & Every LLP, London UK 10

11 APPLICATION SEGMENTS FOR XTPL s TECHNOLOGY 11

12 APPLICATION SEGMENTS FOR XTPL s TECHNOLOGY VERIFIED APPLICATION SEGMENTS APPLICATION SEGMENTS TO BE CONSIDERED OPEN DEFECT REPAIR - removing broken metallic links for: Display matrix (TFT) Silicon photovoltaic cells PCBs MCM multichip modules Integrated circuits Photolithographic masks Biosensors Lab-on-a-chip solutions Smart packaging solutions Wearables Anti-counterfeiting solutions Wide range of printed electronics TRANSPARENT CONDUCTIVE FILMS (TCF) for: Displays Thin film photovoltaic cells Touchscreens or smartphones 12

conductive structures XTPL s technology will address those

13 OPEN DEFECT REPAIR REMOVING LOCAL DEFECTS IN METALIC LINKS 20 μm There is a demand for a new technology for repairing damaged conductive structures XTPL s technology will address those requirements by eliminating all the disadvantages of current methods 13

OPEN DEFECT REPAIR MARKET ANALYSIS 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

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,

14 OPEN DEFECT REPAIR MARKET ANALYSIS 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 , Transparency Market Research, 2015 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) Entry path Building partnership and strategic alliance with wellestablished players/ Joint Development Agreements 14

15 OPEN DEFECT REPAIR - CURRENT STANDARD LCVD (Laser Chemical Vapour Deposition), DLD (Direct Laser Deposition), FIB (Focused Ion Beam) extremely complex (LCVD, FIB) limited possibility to obtain 10 µm and less (LCVD, DLD); Current technology destruction of the active systems in integrated circuits (FIB) No alternative? uses toxic and hazardous gases (LCVD) long processing time (LCVD, FIB, DLD) yes! there is 15

16 OPEN DEFECT REPAIR XTPL S VALUE PROPOSITION REQUIREMENTS increased total length of the conductive lines ADVANTAGES 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 reduction of mechanical, thermal & electromagnetic stress during production & repair process XTPL S TECHNOLOGY will address those requirements by eliminating all the disadvantages of current methods allows for low cost repair does not require any toxic substances is aimed to ensure high efficiency for industrial use 16

TRANSPARENT CONDUCTIVE FILMS MARKET ANALYSIS Market Size Size and perspectives: 6 bn USD, 6,6% CAGR Source: Transparent Conductive Films (TCF) 2016-2026: Forecasts,Markets, Technologies, ID Tech EX,

360 m USD nanoink 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

17 TRANSPARENT CONDUCTIVE FILMS MARKET ANALYSIS Market Size Size and perspectives: 6 bn USD, 6,6% CAGR Source: Transparent Conductive Films (TCF) : Forecasts,Markets, Technologies, ID Tech EX, Statista, Fraunhoffer ISE, own calculations. Potential market for XTPL technology: m USD: 200 m USD printheads, m USD nanoink 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 Entry path Building partnership and strategic alliance with well-established players / Joint Development Agreements 17

18 TRANSPARENT CONDUCTIVE FILMS CURENT STANDARD multistep, complicated process Current technology low optical transparency & low conductance No alternative? lack of flexibility expensive based on rare element - idium yes! there is 18

19 TRANSPARENT CONDUCTIVE FILMS XTPL S VALUE PROPOSITION ADVANTAGES Operation of displays, solar cells, touchscreens or smartphones include among others application of transparent conductive films (TCFs) REQUIREMENTS highest conductance parameters highest possible neutrality to light (absorbed or emitted XTPL has developed such technology and is currently implementing it the solution ensures: 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 by the device) flexibility of the conductive films, which will enable electronics manufacturers to develop and provide new generation of revolutionary solutions to customers 19

20 BUSINESS MODEL 20

21 STAGES OF COMMERCIALIZATION STAGE I (completed) STAGE II (underway) STAGE III Prototype development. Sale of equipment to R&D centers & conclusion of JDAs. Sale of the industrial equipment and provision of the complexed solutions. 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. 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) Q >

22 TARGET BUSINESS MODEL INK XTPL / manufactured by a subcontractor PRINTER XTPL / manufactured by an external partner PRINTING HEAD XTPL FINAL SOLUTION CLIENT 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. 22

23 TARGET DISTRIBUTION CHANNELS Direct sales R&D center CLIENT Technology broker 23

24 FINANCIAL RESULTS 24

25 P&L The name of the position Q YTD Q YTD A. Net revenues from sales and equivalent, including: 38, ,90 - from subsidiaries and affiliates 0,00 0,00 I. Net sales revenues (including subsidies) 0, ,34 II. Change in the balance of products (increase positive value, decrease negative value) 38,58 431,56 B. Operating expenses 2 321, ,14 I. Depreciation and amortisation 295,63 469,88 II. The consumption of materials and energy 71,14 312,18 III. Outsourcing 928, ,52 IV. Taxes and fees, including: 13,05 47,37 V. Salaries 827, ,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) , ,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) , ,17 G. Financial income 0,00 35,73 H. Financial costs 6,89 47,18 I. Gross profit (loss) (F+G-H) , ,62 J. Income tax 0,00 0,00 L. Net profit (loss) (I-J-K) , ,62 25

26 CASH FLOW Q YTD Q YTD A. Cash flows from operating activities I Net profit (loss) , ,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, Other adjustments -38,58 0,00 III. Net cash flows from operating activities (I + II) , ,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, ,08 1. Net inflows from issuance of shares and other capital instruments and from capital contributions 2 894, ,33 2. Loans payable 350, ,95 4. Other inflows from financial activities 141,24 68,80 II. Outflows 0, ,26 4. Repayment of loans and advances 0, ,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, ,82 D. Total net cash flows (A.III±B.III±C.III) 1 268, ,31 E. Balance sheet change in cash, including 1 268, ,31 F. Cash opening balance 152, ,94 G. Closing balance of cash (F±D), including 1 420, ,25 26

27 STOCK QUOTATIONS 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 same time, the Management Board of XTPL intends to pursue a secondary listing on the Open Market in Frankfurt (operated by Deutsche Börse). The dual listing will 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 of commercialization of solutions offered by the company. 27

SHAREHOLDING STRUCTURE 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%

28 SHAREHOLDING STRUCTURE 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). 28

29 HIGHLIGHTS IN Q4 29

ESTABLISHMENT OF BUSINESS DEVELOPMENT DEPARTMENT In Q4 2017 XTPL created department responsible for business development.

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.

30 ESTABLISHMENT OF BUSINESS DEVELOPMENT DEPARTMENT In Q 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). 30

SIGNING ANOTHER CONTRACT FOR CO-FINANCING On December 13, 2017, the company signed a subsidy contract for a project to develop demonstration prototypes of a laboratory printer under the Regional

31 SIGNING ANOTHER CONTRACT FOR CO-FINANCING 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 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 ,44, and the total project value is PLN ,22. 31

PARTICIPATION IN PRINTED ELECTRONICS FAIRS IDTECHEX SHOW On 15 and 16 November 2017, the Issuer took part in the Printed Electronics USA trade fair organized as part of the IDTechEx Show!

32 PARTICIPATION IN PRINTED ELECTRONICS FAIRS IDTECHEX SHOW 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. 32

PRESIDENTIAL ECONOMIC AWARD AT CONGRESS 590 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

33 PRESIDENTIAL ECONOMIC AWARD AT CONGRESS 590 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. 33

34 FUTURE GOALS 34

35 IMPLEMENTATION STATUS OF GOALS FOR THE PUBLIC OFFER Task Set up of Business Development Department, Sales Demartment and other marketing activities Current state 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 Industrial printhead and printer prototype development Internal alpha-tests in progress (lab printer and ink) Concluding conceptual work regarding β-version of the printer

36 MOST IMPORTANT STRATEGIC ACTIONS PLANED ACTION TIMING Assembly & internal complex test of β-version printer Q JDA with mature players in verified application segments - leading to industrial implementation in the future 2018 Initiation of Advisory Board H Patent family development 2018 Transition to the main market of stock exchange in Poland H Parallel quotation on other European stock exchange (e.g. Frankfurt) H Additional grant to enforce commercialization process 2018 Implementation of the new business development strategy

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

37 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 nm) Examples of applications: printed electronics, solar cells, touch screens, wearable electronics, automotive, smart packaging, automotive, biosensors, medical devices, anti-counterfeiting & open defect repair 37

38 WORLDWIDE RECOGNITION We would consider the implementation of the XTPL technology unique and very attractive feature for next generation silicon solar cells. if successfully scaled, would fit very well into the Technological Roadmap make a clear value proposition for this market segment. Dr. Homer Antoniadis Global Technology Director DuPont Dr. Markus Glatthaar Leader of the Department of Novel Processes Fraunhofer ISE Dr. Pierre Verlinden VP Chief Scientist TrinaSolar Dr. Adam Weiss CEO & President WDI 38

39 SELECTED AWARDS & GRANTS WINNER FINALIST GRANT THE ECONOMY AWARD OF THE PRESIDENT OF THE REPUBLIC OF POLAND ANDRZEJ DUDA 2017 CLIMATE VENTURE SUMMIT SME INSTRUMENTS IDTECHEX PRINTED ELECTRONICS TECHNICAL DEVELOPMENT MANUFACTURING AWARD INPHO VENTURE SUMMIT RPO MIT ENTERPRISE FORUM POLAND WOLVES SUMMIT NCBR FAST PATH CLIMATE KIC ACCELERATION PROGRAMM POLAND 2016 ABSL START-UP CHALLENGE PARP 39

40 SUMMARY MOST IMPORTANT ASSETS Global technology Strong team Clear strategy Great Market response 40

Maciej Adamczyk Management Board Member/COO maciej.adamczyk@ M.

41 Maciej Adamczyk Management Board Member/COO M XTPL S.A. Stabłowicka Wrocław, Poland Thank You

shaping global nanofuture ULTRA-PRECISE PRINTING OF NANOMATERIALS

shaping global nanofuture ULTRA-PRECISE PRINTING OF NANOMATERIALS WHO ARE WE? XTPL S.A. is a company operating in the nanotechnology segment. The interdisciplinary team of XTPL develops on a global scale