Item 1.02 Termination of a Material Definitive Agreement

On January 20, 2022, XPEL, Inc. ("XPEL" or the "Company"), gave notice to entrotech, inc. ("entrotech"), that the Company would not extend the term of the Amended and Restated Supply Agreement dated March 21, 2017 (the "Supply Agreement") in its current form. The Supply Agreement will terminate on March 20, 2022. The Supply Agreement governs the sale and distribution of products produced by entrotech for XPEL. XPEL anticipates entering into a new supply agreement with entrotech.

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