• India identified as key long-term market for growth
• Demand expected to be driven by mining and industrial sectors
• Opportunity to drive adoption of lithium borate fusion sample preparation

XRF Scientific Ltd ('XRF' or 'The Company') is pleased to advise that it will open a new international office in India. India has been identified as a key long-term market for growth, with demand expected to be driven by numerous mining and industrial sectors. It is currently the fourth largest economy in the world by nominal GDP. As a market with a large installed base of XRF spectrometers, the vast majority of end-users are using cheaper pressed pellets for sample preparation. As demand for improved analysis increases, a trend is emerging of adoption towards lithium borate fusion sample preparation. Lithium borate fusion, whilst more expensive to perform, is a superior method and widely adopted in markets such as Australia, Europe and North America. In addition, it's expected India will be a large addressable market for other key products in our range. The office is expected to commence trading this February and will be led by Mr Sanjay Mitra as Country Manager. Mr Mitra is an experienced laboratory product professional and through San Global Scientific (OPC) Pvt Ltd (San Global), acted as the lead distributor of XRF in India. San Global's focus in India has been XRF's products, which over the last seven years has developed into an important export market for our consumables and machines. The XRF Scientific team in India will initially consist of five employees, who primarily transfer from San Global. The switch of model from a distributor to own office, will allow for additional resources to be deployed to grow sales. It is also expected to improve customer confidence in our long-term commitment to the Indian market.

India has been identified as a key long-term market for growth, with demand expected to be driven by numerous mining and industrial sectors. The opening of the new office is expected to improve customer confidence in XRF's long-term commitment to the Indian market and allow for additional resources to be deployed to grow sales.