XSPA - XpresSpa Uniquely Positioned To Benefit As Airport COVID-19 Testing Gains Momentum

• The opportunity for increased airport COVID-19 testing is growing.
• The Netherlands announced a requirement for testing in the 4-hour window before departure. The CDC is considering a testing requirement for domestic air travel.
• United Airlines is marketing XSPA's solution which could accelerate adoption.
• However, air travel numbers were down in January relative to December, which could have a negative impact on 1Q 2021.
• XSPA is a risky investment as it is burning cash and has not proven its business model yet. It is like an early stage venture investment and it is important to consider the risks.

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