REG - Genus PLC - Successful formation of Chinese porcine JV

GenusAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260202:nRSB2689Ra&default-theme=true

RNS Number : 2689R  Genus PLC  02 February 2026

2 February 2026

Genus plc ("Genus" or the "Group")

Successful formation of Chinese porcine joint venture

Genus (LSE: GNS), a leading global animal genetics company, is pleased to
announce the successful formation of its Chinese porcine joint venture on 31
January 2026. As announced on 4 September 2025(1), Genus believes its joint
venture partnership with Beijing Capital Agribusiness provides the best
platform to accelerate the growth of PIC China.

Following successful formation of the joint venture, Genus will receive a
gross cash payment of US$160m (estimated US$140m, net of withholding tax and
transaction costs, and subject to any further working capital and net debt
adjustments). This gross cash payment is in addition to a gross milestone
payment to Genus of US$7.5m which was recognised in the Group's fiscal first
half.

As a result of Genus's joint venture ownership of 49%, PIC China will
henceforth be  deconsolidated from Genus's group accounts. Management will
discuss the pro-forma implication of the joint venture formation during the
Group's scheduled interim results announcement on 26 February 2026.

For further information please contact:

Genus plc      Tel: +44 (0)1256 345 970

Jorgen Kokke, Chief Executive Officer

Andy Russell, Chief Financial Officer

Anand Date, Investor Relations & Sustainability Director

Burson Buchanan    Tel: +44 (0)207 466 5000

Charles Ryland; Mark Court; Toto Berger; Jamie Hooper

About Genus

Genus is a world-leading animal genetics company. Genus creates advances to
animal breeding and genetic improvement by applying biotechnology and sells
added value products for livestock farming and food producers. Its technology
is applicable across livestock species and is currently commercialised by
Genus in the dairy, beef and pork food production sectors.

Genus's worldwide sales are made in over seventy-five countries under the
trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and comprise semen,
embryos and breeding animals with superior genetics to those animals currently
in farms. Genus's customers' animals produce offspring with greater production
efficiency, and quality, and use these to supply the global dairy and meat
supply chains.

The Group's competitive edge has been created from the ownership and control
of proprietary lines of breeding animals, the biotechnology used to improve
them and its global supply chain, technical service and sales and distribution
network.

With headquarters in Basingstoke, United Kingdom, Genus companies operate in
over twenty-five countries on six continents, with research laboratories
located in Madison, Wisconsin, USA.

Footnotes

(1) Accelerated Chinese porcine joint venture formation
(https://genus2024eutfm.q4web.com/news/news-details/2025/Accelerated-Chinese-porcine-JV-formation/default.aspx)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  JVEUAAKRNUUURAR



            Copyright 2019 Regulatory News Service, all rights reserved