18 April 2023

CAP-XX Limited

("CAP-XX" or the "Company")

CAP-XX Achieves PSW from Continental Automotive

Sydney, Australia - April 18, 2023 - CAP-XX Limited (LSE:CPX), the leading manufacturer of ultra-thin prismatic, cylindrical, and Lithium-Ion supercapacitors, announced that Continental Automotive GmbH, a global Tier 1 automotive supplier, has granted the PSW (Part Submission Warrant) to CAP-XX, following the Company's successful completion of Continental's PPAP (Production Part Approval Process). The two companies previously signed a Sourcing Agreement for CAP-XX to supply its DMT220 prismatic supercaps in the volumes needed from 2024 through 2030 for a key Continental automotive program. CAP-XX has now completed the stringent quality audit for this agreement.

Continental's PPAP analyzed 18 requirements such as design records, Failure Modes and Effects Analysis, authorized engineering changes, engineering approval, dimensional results, and control plan. Also, as part of this PPAP, CAP-XX was successfully audited according to VDA 6.3, a process-based audit standard for improving new product introduction and manufacturing processes, used by German-based automotive industries (Verband der Automobilindustrie).

The CAP-XX DMT220 supercapacitor, previously manufactured by Murata under license from CAP-XX, is now produced in CAP-XX's new high-capacity factory at Seven Hills, NSW, Australia using production lines acquired and successfully recommissioned from Murata. DMT220 features include:

220 mF Capacitance / Rated at 4.2 Volts

High temperature operation -40C to 85C

Ultra-thin form factor 21 x 14 x 2.2mm thin

High charge efficiency with long life, up to 20 years or 1,000,000 charge discharge cycles

"Successfully completing this time and resource-intensive quality standard to meet the most stringent requirements of the German automotive industry is an endorsement to CAP-XX's product and manufacturing capabilities, and paves the way for CAP-XX to join other European automotive projects" said Marco Ranalli, GM of CAP-XX Europe.

For further information contact:

CAP-XX Limited

Anthony Kongats (CEO)

+61 (0) 2 9428 0139

Kreab (Financial PR)

Robert Speed

+44 (0) 20 7074 1800

Allenby Capital (Nominated Adviser and Joint Broker)

David Hart / Alex Brearley (Corporate Finance)

Tony Quirke (Sales and Corporate Broking)

+44 (0) 20 3328 5656

Cenkos Securities plc (Joint Broker)

Neil McDonald / Pearl Kellie

+44 (0) 13 1220 6939

About CAP-XX

CAP-XX is the leader in the design and manufacture of supercapacitors, including ultra-thin prismatic,cylindrical and hybrid (lithium-ion capacitors), for managing burst power, micro energyharvesting and backup power needs in portable and IoT devices. CAP-XX also offers large, powerful supercapacitor modules for engine start and othermicrogrid/grid/powercorrectionapplications up to 2000V. CAP-XX prismatic supercapacitors are manufactured in Australia and Malaysia andits cylindrical and hybrid supercapacitors are manufactured in China and the USA.The company's strong intellectual property (IP) portfolio includes 11 patentfamilies. CAP-XX's ultra-thin prismatic supercapacitors are ideal for space-constrained electronics applications where small energy storage device size andthickness are critical. Visithttps://www.cap-xx.com/or [email protected].

-ENDS-