XPP.L

XP Power Ltd.
XP Power Ltd - Response to Advanced Energy Statement
18th June 2024, 06:47
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18 June 2024

XP Power Limited

(`XP Power' or `the Company')

Response to Advanced Energy Statement and
reiteration of full year outlook

The Board note the announcement released today by Advanced Energy Industries,
Inc. ("Advanced Energy") stating that they have no intention of making an offer
for the Company.  The Board confirms that it has had no contact from Advanced
Energy since its indicative proposal was rejected on 13 May 2024.

The Board confirms that its full year trading expectations remain unchanged. The
Company will announce its Interim Results on 6 August 2024.

Enquiries:

XP Power

Gavin Griggs, Chief Executive Officer+44 (0)118 984 5515

Matt Webb, Chief Financial Officer+44 (0)118 984 5515

Citigate Dewe Rogerson

Kevin Smith/Lucy Gibbs+44 (0)207 638 9571

Note to editors

XP Power designs and manufactures power controllers, the essential hardware
component in every piece of electrical equipment that converts power from the
electricity grid into the right form for equipment to function. Power
controllers are critical for optimal delivery in challenging environments but
are a small part of the overall customer product cost.

XP Power typically designs power control solutions into the end products of
major blue-chip OEMs, with a focus on the Industrial Technology (circa 41% of
sales), Healthcare (circa 20% sales) and Semiconductor Manufacturing Equipment
(circa 39% of sales) sectors. Once designed into a programme, XP Power has a
revenue annuity over the life cycle of the customer's product which is typically
five to seven years depending on the industry sector. XP Power has invested in
research and development and its own manufacturing facilities in China, North
America, and Vietnam, to develop a range of tailored products based on its own
intellectual property that provide its customers with significantly improved
functionality and efficiency.

Headquartered in Singapore and listed on the Main Market of the London Stock
Exchange since 2000, XP Power is a constituent of the FTSE All Share Index. XP
Power serves a global blue-chip customer base from over 30 locations in Europe,
North America, and Asia.

For further information, please visit www.xppowerplc.com.

This information was brought to you by Cision http://news.cision.com

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