Proposed equity raise of up to £6.0 million

genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, is pleased to announce that further to the announcement of 9 December 2025 confirming the terms of a Loan Agreement with the Company's largest shareholder, David Nugent, the Company is today announcing that David Nugent and Robert English, a significant shareholder in the Company, have informed the Company that they intend to subscribe for £1.5m each (£3m in total) in new equity as part of a broader equity financing of up to £6.0m to fund the Company's various growth initiatives (the "Equity Raise").

The precise terms and structure of the Equity Raise are to be finalised as soon as possible however the Company intends to include an open offer to existing qualifying shareholders of up to £2m (excess applications to be accepted and in which neither Mr Nugent nor Mr English would participate ahead of other shareholders) and an institutional placing. Further, Mr Nugent and Mr English have indicated that they are willing to subscribe for a proportion of the £3m utilising the Company's existing share authorities which would provide a near-term extension to its current cash runway, with shareholder approval expected to be sought for the remainder of the Equity Raise. Finally, the Directors of the Company would intend to invest not less than £100,000 in the Equity Raise.

• Nugent also intends to convert the £500,000 loan provided to the Company last month into new equity at the issue price of the Equity Raise. Mr Nugent intends that his beneficial shareholding post the Equity Raise / loan conversion will remain at less than 30% of the Company's voting rights.

The net proceeds of the Equity Raise would be expected to be used as follows:

• Supporting continued near-term commercialisation & market expansion activities in UK, Europe & Middle East region.
• FDA 510(k) submission for CYP2C19 anticipated around June 2026, with a 3-4 month review period post submission.
• Manufacture scale-up and efficiencies.
• User-led on-market refinements to product usability features.
• Translation of IP to include laboratory platform CYP2C19 genotyping assay in addition to point of care.

The parties have indicated that they would be willing to proceed with the Equity Raise at, or around, the current share price (including higher) and may also amend the total amount to be raised to ensure that any Equity Raise minimises the level of dilution whilst also providing meaningful additional capital for the Company's future growth plans.

Dr Gino Miele, CEO of genedrive plc, said: "We very much welcome this indicated support from both David and Robert who are very aligned with the Board's view of the significant growth opportunities ahead for genedrive. Having two major shareholders indicating significant support for this equity financing and sharing our excitement about the future growth prospects and opportunities is a significant and positive development for the Company's financing plans."