Press release, 13th August, 2025

XTPL to deliver a second UPD module as part of technology evaluation with a Nasdaq-100 listed U.S. client

In the fourth quarter, XTPL (WSE: XTP) will deliver a second Ultra-Precise Dispensing (UPD) module to a U.S.-based Nasdaq-100 listed client, one of the world’s four largest manufacturers of industrial machines for next-generation electronics producers. The order is the result of an ongoing evaluation of XTPL technology focused on its potential application in the semiconductor and FPD (Flat Panel Display) sectors. The second UPD module features an enhanced configuration relative to the first unit and has been engineered for specialized applications identified by the U.S. client. The XTPL-developed module meets all new requirements and will be used to build another prototype industrial machine.

“The order received from the U.S. client listed on the Nasdaq-100 is the result of two years of testing based on the first UPD module delivered by XTPL. The modifications we have introduced to the second module significantly expand its configuration, addressing the specific requirements communicated to us by the partner. The new module aligns with the client’s vision, which was developed during the testing conducted to date, and the order positions XTPL as a potential supplier of a key component for large industrial machines used in the semiconductor and FPD display industries” says Filip Granek, President of the Management Board of XTPL S.A.

“The time the U.S. client has devoted to testing our technology and developing a product vision tailored to its own expectations works in our favor by increasing the likelihood of achieving another industrial implementation. For XTPL, this partnership is extremely important not only because it strengthens our sales activities in the United States, but above all because the client has direct access to global next-generation electronics manufacturers, to whom it regularly supplies large volumes of specialized industrial equipment. This is a value chain that is very difficult to access, and we believe that XTPL technology can play a role within it” Filip Granek adds.

XTPL is commercialising three business lines: UPD modules (printheads) for industrial implementation on the production lines of global manufacturers of electronics, the Delta Printing System (DPS, technology demonstrator) prototyping devices and High Performance Materials (HPM, nanoinks used by UPD and DPS). In May 2023, the Company received its first order for a UPD module from the U.S. client listed on the Nasdaq-100, aimed at building a large prototype machine and further evaluating XTPL’s technology as part of the transition to the fourth stage of the process focused on industrial implementation. The second module, in a configuration modified according to the client’s requirements, will be delivered to the U.S. buyer by the end of Q4 2025.

“Finalizing the detailed configuration of the second UPD module, which we will deliver to the U.S. client in Q4, is a milestone in the long-term process aimed at achieving another industrial implementation by XTPL. The product’s recipient is one of the world’s four leading manufacturers of industrial-scale machines for the advanced electronics sector, generating annual revenues in the billions of dollars from sales to the top global producers. The continuation of XTPL’s technology evaluation with such a partner confirms the technology’s high potential and although we do not expect an industrial implementation this year, the likelihood of achieving one in the longer term has increased significantly. We estimate that the potential volume of future UPD module orders in this project will be considerably higher than in the ongoing industrial implementation for the client in China” says Jacek Olszański, CFO of XTPL S.A.

Currently the Company has 9 projects at least at the second stage of processes aimed at industrial implementation of its technology (completed initial contact, identified customer needs, started technology evaluation and development by XTPL). Once positively validated and fully deployed, their total potential is estimated at PLN 400 million in average annual revenues over their respective lives. The most advanced are 4 projects (including the implementation for the customer from China) covering areas the Company considers strategic: semiconductors and displays. The Company’s end customers or partners are global entities responsible for the production of next generation electronics, including a top Chinese manufacturer of machines for the sector of modern displays (the current industrial implementation), a leading semiconductor manufacturer from Taiwan, one of the world’s largest producers of FPDs from South Korea and a top manufacturer of industrial machines from the United States, listed on the Nasdaq-100 index.