FY25 Trading Update

Genus (LSE: GNS), a leading global animal genetics company, publishes the following unaudited trading update for its fiscal year ended 30 June 2025. Highlights include:

• Strong underlying Group trading in-line with expectations
• Double digit underlying growth in PIC adjusted operating profit, as expected; additional net £3.7m milestone receipt following FDA approval of PRP gene edit
• ABS ahead of expectations in H2, VAP Phase 2 achieved £8.5m of in-year benefit
• Excluding the PRP milestone receipt, FY25 adjusted PBT to be at least £68m in actual currency, in-line with expectations1
• Including the PRP milestone receipt, FY25 adjusted PBT to be at least £72m in actual currency

PIC's underlying trading was in-line with expectations in the second half with the Americas and Asia regions continuing to perform well. As announced on 30 April 2025, the U.S. Food and Drug Administration ("FDA") issued its landmark approval for the Group's PRRS2 Resistant Pig ("PRP") gene edit to be used in the U.S. food supply chain. This approval triggered a net £3.7m receipt to Genus, comprising a $5.5m (£4.1m) milestone receipt from the Group's Chinese partner, Beijing Capital Agribusiness, as per the terms of the strategic porcine collaboration agreement signed in May 2019, as well as Genus making milestone payments of £0.4m to our research collaborators.

ABS performed ahead of expectations in the second half, with Value Acceleration Programme ("VAP") initiatives continuing to be the primary driver of adjusted operating profit growth. VAP Phase 2 achieved £8.5m of in-year benefit and in total the annualised benefit of VAP Phase 1 and Phase 2 is projected to be over £21m, as expected. ABS has commenced Phase 3 initiatives to reshape its go-to-market channels and enhance commercial excellence to accelerate growth.

As a result of good trading and the PRP milestone receipt, the Board now expects Group FY25 adjusted profit before tax to be at least £72m in actual currency1,3. Excluding the net £3.7m PRP milestone receipt, FY25 adjusted PBT is expected to be at least £68m in actual currency, in-line with expectations1,3.

Group cash conversion in the second half continued to be very strong resulting in strong growth in free cash flow and a reduction in leverage to less than 1.6x at year-end.

Genus will announce its FY25 preliminary results on 4 September 2025.

2 Porcine Reproductive and Respiratory Syndrome

3 This includes a currency headwind of £8.4m for FY25, in-line with previous guidance