Corporate Update

GenIP plc, a technology business providing Generative Artificial Intelligence (GenAI) services to help research organisations and corporations commercialise their innovations, is pleased to provide an update on orders for the GenAI enhanced services since their launch on 1 September 2024.

Highlights:

• Since launching GenAI services, orders worth approximately $121,000 have been secured, representing over 40% of legacy service full-year 2023 revenue
• This includes over 80 Invention Evaluator Generative AI analytical assessments
• Winning four Vortechs executive search assignments
• Leading Fortune 500 technology company client has doubled the pace of orders after GenAI enhancements
• Advanced discussions with multiple research organisations over new orders
• GenIP has been Invited to attend leading international technology transfer events by long-term partners

The volume of initial orders is very encouraging and the Company anticipates the level of new orders from current and new customers to grow.

Invention Evaluator

Invention Evaluator's Generative AI algorithms are now fully integrated and are generating enhanced analytical commercialisation assessments for our clients at a high efficiency level. Since the beginning of September 2024, new and existing clients have placed over 80 fresh orders for Invention Evaluator Generative AI analytical assessments.

Vortechs

Vortechs' advanced machine learning and natural language processing executive search services has received several new assignments in the technology transfer sector. GenIP's sales team is engaged in advanced negotiations with multiple research organisations representing a robust Vortechs pipeline of new business.

International Technology Transfer Event Participation

Building on deep relationships with leading research organisations, GenIP has been invited to attend a significant healthcare event in Singapore, where dignitaries, partners, clinicians, and key stakeholders in the healthcare ecosystem will gather. In addition, GenIP will address delegates at a major technology transfer event in Brazil. This event will bring together over 500 qualified attendees, including representatives from more than 60 Technology Transfer Offices (TTOs) across Brazilian universities and research centres.

GenIP looks forward to providing further updates on commercial progress in due course. The Company does not plan to provide monthly updates on sales or orders and will provide updates on material developments.

Melissa Cruz, CEO of GenIP, comments:

"We are highly encouraged by the strong demand for GenIP's Generative AI analytic services over the past five weeks, with total orders amounting to approximately $121,000. We remain laser-focused on building on this momentum, expanding our client base, and delivering our services to research organisations globally."

Company Strategy

GenIP's goal is to create a leading Generative AI analytic services company. To achieve this, the Company has established three strategic pillars:

• Expand the Generative AI service offerings within InventionEvaluator and Vortechs' to reach new customers and improve margins.