XTPL S.A.: Uzgodnienie głównych parametrów przedłużenia finansowania uzyskanego na podstawie obligacji zamiennych serii A

Title: Agreeing the main parameters of the extension of the financing
obtained under series A convertible bonds

Legal basis: Article
17(1) MAR – inside information

With reference to ESPI Current Report 29/2020 of 30 July 2020, the
Management Board of XTPL S.A. (“Company”, “Issuer”), hereby reports that
the Issuer and two bondholders holding the Company’s series A bonds
convertible to series U shares with a total nominal value of PLN 3.378
million (“Bonds”) entered into respective letters of intent establishing
the parameters of the extension of and changes to the debt financing
granted to the Issuer under the Bonds (“Extension of Financing”), which
is to take place by changing the terms of the issue of the existing
Bonds or converting the Bonds into newly issued bonds, on the following
terms:

1. redemption date: the new redemption date of the Bonds/ New Bonds (as
defined below) would be 30 January 2024 (i.e. extension of the
redemption date by 18 months compared to the original redemption date of
the Bonds);

2. interest rate: 5% per annum starting from 31 July 2022.

The Extension of Financing may take place either as a change in the
terms of the issue of the Bonds or through the issue of new bonds (“New
Bonds”), with the claims in respect of the Bonds being allocated to the
issue price of the New Bonds, provided that the parties’ preferred
solution is to proceed with the Extension of Financing by changing the
terms of the issue of the Bonds.

Two bondholders, holding Bonds with a total nominal value of PLN 3.378
million (which equals to 93.85% of nominal value of series A convertible
bonds), expressed their in those changes to enable the Extension of
Financing. The third bondholder, holding the remaining Bonds, expressed
its willingness redeem the Bonds on the original redemption date.

The Extension of Financing will require the Company’s General Meeting to
adopt appropriate resolutions to amend the original resolution
concerning the issue of the Bonds, or to adopt a resolution concerning
the issue of the New Bonds, as the case may be, and to sign the relevant
documentation with the bondholders. In order to adopt the required
resolutions by the general meeting, the Company plans to immediately
summon such general meeting.

The Issuer’s Management Board has decided that the preliminary
establishment of parameters of the Extension of Financing is inside
information, as the implementation of those arrangements may have a
significant impact on the Company’s future cost and cash flow position,
which in turn may affect the way the Company and its financial
instruments are perceived by investors. For this reason, in the opinion
of the Management Board, the information about agreeing the parameters
of the Extension of Financing meets the criteria set out in Article 7(1)
of the MAR.

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