PrimaryBid Retail Offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, JAPAN, SINGAPORE OR SOUTH AFRICA.

XP Power Limited

("XP Power" or the "Company")

PrimaryBid Retail Offer

• XP Power announces a conditional offer for subscription of up to £1.5 million of new Ordinary Shares via PrimaryBid;
• The Offer Price for the new Ordinary Shares is 1150 pence per new Ordinary Share, representing a premium of 6.1 per cent. to the closing mid-price of the Company's existing Ordinary Shares on 3 November 2023;
• Investors can access the Retail Offer through PrimaryBid's website and on PrimaryBid's app;
• The Retail Offer is available to both existing shareholders and new investors;
• The new Ordinary Shares to be issued pursuant to the Retail Offer and the Placing will be sold at the Offer Price;
• There is a minimum subscription of £250 per investor in the Retail Offer;
• No commission will be charged by PrimaryBid on applications to the Retail Offer.

Retail Offer

XP Power (LON:XPP), the developer and manufacturer of critical power control solutions for the Industrial Technology, Healthcare and Semiconductor Manufacturing Equipment sectors, is pleased to announce, a conditional offer for subscription of new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") via PrimaryBid (the "Retail Offer") at an issue price of 1150 pence per new Ordinary Share (the "Offer Price"), being a premium of 6.1 per cent to the closing mid-price of the Company's existing Ordinary Shares on 3 November 2023.

The Company is also conducting a placing of new Ordinary Shares at the Offer Price by way of an accelerated bookbuilding process to raise £43.9 million (the "Placing") as announced earlier today.

The Retail Offer is conditional on the new Ordinary Shares to be issued pursuant to the Retail Offer and the Placing being admitted to the premium listing segment of the Official List of the Financial Conduct Authority and admitted to trading on the main market for listed securities of London Stock Exchange plc ("Admission"). Admission is expected to take place at 8.00 a.m. on 9 November 2023. The Retail Offer will not be completed without the Placing also being completed.

The net proceeds of the Placing and Retail Offer will be used to reduce net debt, improve the Company's liquidity position, refinance capital investments and continue to invest in key areas including R&D.

Reason for the Retail Offer

Existing shareholders and new investors can access the Retail Offer through PrimaryBid's website and on PrimaryBid's app. The PrimaryBid app is available on the UK Apple App Store and Google Play Store.

• AJ Bell;
• Hargreaves Lansdown; and
• interactive investor.

The Retail Offer will open to investors resident and physically located in the United Kingdom following the release of this Announcement. The Retail Offer is expected to close at 9 p.m. on 6 November 2023 and may close early if it is oversubscribed.

There is a minimum subscription amount of £250 per investor in the Retail Offer.

For further information on PrimaryBid, the Retail Offer or for a copy of the terms and conditions (including the procedure for application and payment for new Ordinary Shares) that apply to registered users of PrimaryBid in addition to the terms and conditions set out in this Announcement, visit www.PrimaryBid.com or email PrimaryBid at enquiries@primarybid.com.