18 July 2023

CAP-XX Limited

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

Update on Patent Infringement Complaint Against Maxwell

Patent Infringement Complaint from Tesla

CAP-XX Limited, a world leader in the design and manufacture of supercapacitors and energy management systems, has been advised that the trial date for its existing patent infringement action against Maxwell Technologies Inc. ("Maxwell"), now a wholly owned subsidiary of Tesla Inc. ("Tesla"), has been moved from 24 July 2023 to 11 December 2023, due to the passing away of an expert witness for Maxwell.  The CAP-XX Board remains optimistic of the Company's prospects in this matter.

Further, separately, CAP-XX has been advised that Tesla has recently lodged a complaint against CAP-XX in the U.S. District Court, alleging the infringement of two patents by CAP-XX.  CAP-XX intends to strenuously defend this action and further announcements will be made as appropriate.

For further information contact:

CAP-XX Limited

Pat Elliott (Chairman)                                                                                                     +61 (2) 9157 0000

Lars Stegmann (Chief Executive Officer)

Allenby Capital (Nominated Adviser and Joint Broker)

David Hart / Piers Shimwell (Corporate Finance)                                                      +44 (0) 20 3328 5656

Tony Quirke / Stefano Aquilino (Sales and Corporate Broking)

Cenkos Securities plc (Joint Broker)

Neil McDonald / Pearl Kellie                                                                                        +44 (0) 13 1220 6939

Kreab (Financial PR)

Robert Speed                                                                                                                    +44 (0) 20 7074 1800

More information is available at www.cap-xx.com

About CAP-XX

CAP-XX (LSE:CPX) is a world leader in the design and manufacture of ultra-thin prismatic and compact cylindrical supercapacitors. Its prismatic supercapacitors are manufactured in Australia and Malaysia and its cylindrical supercapacitors are manufactured in China. The company's strong intellectual property (IP) portfolio includes 11 patent families. CAP-XX's ultra-thin prismatic supercapacitors are ideal for space-constrained electronics applications where small energy storage device size and thickness are important. The unique feature of CAP-XX supercapacitors is their very high-power density and high-energy storage capacity in space-efficient thin prismatic and compact cylindrical packages. For more information, visit https://www.cap-xx.com/ or email [email protected].