Slides
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Preliminary Results Year Ended 30 June 2026 Significant strategic progress and £60m share buyback announced
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Disclaimer This presentation has been prepared by Genus plc (“Genus” or “the Company”) and has not been independently verified. Genus is solely responsible for the contents of this document and has taken all reasonable care to ensure that the facts stated herein are true and accur ate in all material respects and that there are no material facts the omission of which would make misleading any statement in this document whether of fa ct or opinion. While the information contained in this presentation has been provided in good faith, neither the Company, nor any of their a dvi sers, representatives, officers, agents or employees makes any representation, warranty or undertaking, express or implied, in respect of this presentation an d n o responsibility or liability is accepted by any of them as to the accuracy, completeness or reasonableness of the information provided. The issue of this pre sentation to the recipient does not create any obligation on the part of the issuer to provide the recipient access to any additional information or to upd ate this presentation or any additional information or to correct any inaccuracies in this presentation or any additional information which may become app are nt. The recipient should conduct its own investigation into the Company and of any other information contained in the presentation. This presentation is for information purposes only and does not constitute, and shall not be interpreted as, either an offer for sale, prospectus, invitation to subscribe for shares or debentures in the Company, or as the basis of a contract. This presentation has been prepared on the basis that it will only be made available to investment professionals and is there by exempt from the provisions of s21 of the Financial Services and Markets Act 2000. 2
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Overview & Headlines Jorgen Kokke Chief Executive Officer
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We produce and sell elite animal genetics to farmers. Our genetics constitute less than 2% of a farmer’s typical cost base What Genus does 4 Our animals exhibit valuable traits such as increased feed conversion, growth rates and robustness Our products therefore improve farmer profitability and reduce the environmental impact of animal protein production This helps our customers raise healthier animals that produce more high - quality protein per unit of input
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FY26: Significant progress & additional shareholder return 5 • Excellent financial performance: Strong growth in adj. PBT (+35%) and adj. EPS (+35%) and very strong free cash flow generation (£62m) • Further PRP milestones: Approvals and/or positive determinations secured in Argentina, Canada, Uruguay and Peru; commercialisation process beginning in selected Latin American countries • Localised PIC platform in China; Joint venture formation crystallises value and accelerates the long - term growth opportunity • Substantially strengthened balance sheet with additional capital returned to shareholders: £60m share buyback expected to be completed in FY27 in addition to 10% Full Year dividend growth
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Financial Results Andy Russell Chief Financial Officer
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Strong FY26 financial performance 7 £ 658.1 m ( - 2 %) Revenue £ 100.2 m (+ 35 %) Adj. PBT 1 110.3 p (+ 35 %) Adj. EPS 1 0.4 x (FY25: 1.5 x) Adj. Leverage 1 18.4% (FY25: 15.0 %) Adj. ROIC 1 1. Includes £5.6m milestone receipt from BCA £ 62 m Conversion 94 % Free Cash Flow 1
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Financial KPIs: Good overall performance; regional/product variation Genus PIC Genus ABS 8 Adj. Royalty Revenue Growth 1,2 + 5 % Adj. Op. Profit 3 NB: In actual currency and includes Joint Ventures unless specified; growth rates are compared to the prior year period 1. Adjusted Royalty Revenue is a new APM which removes 100% of PIC China royalty revenue from reported revenue and adds back 49% of our JV royalty revenues 2. Constant currency 3. Includes £5.6m milestone receipt from BCA 4. Excludes our share of profits from Joint Ventures Adj. Op. Profit Margin 3,4 +1% NAM LATAM EMEA ASIA £ 130.8 m (+17%) 30.9 % (+330bps) +3% +7% +10% Sexed Volume 8.8 m (+2%) Adj. Op. Profit Adj. Op. Profit Margin 4 £ 22.9 m (+ 17 %) 7.5 % (+ 130 bps) JVs +19%
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93.1 3.8 7.8 5.4 3.4 0.6 1.9 116.0 FY25 Adj. Operating Profit PIC China BCA Milestone PIC LATAM Other PIC ABS R&D & Central FY26 Adj. Operating Profit Strong growth in Group adj. operating profit inc. JVs 9 Adj. operating profit inc. JVs waterfall £m • Group adjusted operating profit grew 25% • Very strong PIC adj. profit growth, driven by PIC China (7 months up £5m year on year; 5 months as a 49% JV), LATAM, and £5.6m milestone receipt from BCA (vs £3.7m in FY25) • Good ABS adj. profit growth, driven predominantly by VAP benefits • Group adj. operating profit margin 1 up 380bps to 17.6% (+350bps to 16.8% excluding the BCA milestones in FY25 and FY26) 1. Adjusted Operating Margin includes joint ventures profit 2. In constant currency calculated by restating the results for the year ended 30 June 2025 at the average exchange rates applie d t o adjusted operating profit for the year ended 30 June 2026. 3. Other PIC and ABS contains FX translation differences 72.1 76.4 74.3 81.0 98.2 3.7 5.6 5.6 9.4 3.8 8.4 12.2 13.1% 12.4% 11.7% 13.8% 17.7% 0% 5% 10% 15% 20% 25% 30% 10 30 50 70 90 110 FY22 FY23 FY24 FY25 FY26 PIC China Operating Profit BCA Milestone Adj. Operating Profit exc. PIC China & BCA Milestone Group Adj. Operating Margin 77.7 85.8 78.1 116.0 Group adjusted operating profit inc. JVs £m 93.1 In constant currency 2 1 3 3
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Genus PIC: Strong adj. operating profit growth 10 1. Adjusted operating margin excludes joint ventures 2. Bridge items are in constant currency and calculated by restating the results for the year ended 30 June 2025 at the average exc hange rates applied to adjusted operating profit for the year ended 30 June 2026. The FX difference is included within FX / O the r 111.9 4.9 (1.5) 6.7 (0.9) 7.8 1.9 130.8 PIC FY25 adj. operating profit inc. JVs PIC LATAM Trading Regions ex LATAM BCA milestone PRP costs Global Production FX / Other PIC FY26 adj. operating profit inc. JVs In constant currency 2 Adj. Op. Profit Margin 1 30.9% (FY25: 27.6 %) • Adj. operating profit inc. JVs increased 17% to £130.8m at a 30.9% margin (16% growth & 29.3% margin exc. BCA milestones) • Strong performance in Latin America driven by high breeding stock sales • Growth in other trading regions: strong growth in S.E. Asia and PIC China offset by H2 customer disease challenges in North America • £5.6m milestone payment from BCA on formation of joint venture in China (vs £3.7m in FY25) • Excluding the BCA milestone, underlying PRP costs increased £1.5m • Within global production: non - recurring input cost benefit in H1 (£2.8m) and farm sale in H2 (£1.9m) • £1.3m FX tailwind in FY26 PIC adjusted operating profit inc. JVs bridge £m
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Genus PIC: Strong joint venture performance Agroceres PIC PIC China 1 11 Royalty Revenue Growth NB: Constant currency unless specified; growth rates are compared to the prior year period 1. JV formed in January 2026; prior to this, PIC owned 100% of PIC China. Genus share of profit represents 7 months at 100% and 5 months at 49% Adj. Op. Profit +7% Genus Share of Adj. Op. Profit £ 19.1 m (+ 56 %) Royalty Revenue Growth Adj. Op. Profit £ 15.2 m (+ 81 %) Genus Share of Adj. Op. Profit 1 £ 12.2 m (+ 45 %) Entire Entity Genus Share of Adj. Op. Profit £ 38.9 m (+ 56 %) +52%
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Genus ABS: Continued profit improvement 12 1. Adjusted operating margin excludes joint ventures 2. Bridge items are in constant currency and calculated by restating the results for the year ended 30 June 2025 at the average exc hange rates applied to adjusted operating profit for the year ended 30 June 2026. The FX difference is included within FX / O the r 19.5 9.0 (2.5) (0.7) (3.6) 1.2 22.9 ABS FY25 operating profit actual VAP Other Trading ABS China Product Development FX ABS FY26 operating profit actual In constant currency 2 Adj. Op. Profit Margin 1 7.5% (FY25: 6.3 %) • Adjusted operating profit increased 17% to £22.9m at a 7.5% margin • VAP continued to be the major driver of ABS profit growth; £9.0m of benefit realised in FY26 comprising £2.0m of annualised Phase 2 benefits and £7.0m of in - year Phase 3 benefits • Phase 3 initiatives achieved £9.0m of annualised benefit • Sexed growth offset by challenging dairy volume from adverse market conditions • Bovine product development costs increased £3.6m, as expected, due to higher depreciation ABS adjusted operating profit bridge £m
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67.1 86.3 82.9 77.4 73.0 11% 13% 12% 12% 11% 0% 5% 10% 15% 0 20 40 60 80 100 FY22 FY23 FY24 FY25 FY26 R&D & PD Spending R&D & PD as a % of Group Revenue 21.9 24.8 21.8 16.5 14.7 3.7% 3.6% 3.3% 2.5% 2.3% 0% 2% 4% 6% 8% 10% 0 5 10 15 20 25 30 FY22 FY23 FY24 FY25 FY26 R&D Spending R&D as a % of Group Revenue 6.9 9.2 10.1 11.2 22.5 29.7 28.8 28.2 22.0 7% 10% 11% 11% 9% 0% 2% 4% 6% 8% 10% 12% 0 10 20 30 40 50 FY22 FY23 FY24 FY25 FY26 PRP ex BCA Milestone PIC PD 22.7 24.9 23.3 22.6 25.1 8% 8% 7% 7% 8% 2% 4% 6% 8% 10% 18 20 22 24 26 28 FY22 FY23 FY24 FY25 FY26 ABS PD ABS PD as % of ABS Revenue Significant continuing investment in R&D 13 Porcine product development % of Porcine revenue Genus research % of Genus revenue Bovine product development % of Bovine revenue Lower product development spend primarily due to commodity favourability Increased underlying investment in PRP costs; PRP costs expected to increase further in FY27 Higher dairy bull depreciation from prior period investments and the impact of De Novo acquisition Lower research expenditure, as planned Spend expected to grow slightly in FY27 but remain below 3% of Group revenue Genus continues to invest substantially in research and product development Genus research and product development 1 % of Genus revenue 1. The view of PD spend excludes payments received by PIC from BCA totalling £3.7m in FY25 and £5.6m in FY26
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Statutory Income 14 FY26 FY25 Change £m £m £m Adjusted operating profit 94.8 81.1 13.7 Net IAS 41 valuation mvmt on biological assets 12.8 (13.3) 26.1 Amortisation of acquired intangible assets (4.1) (5.6) 1.5 Impairment of goodwill 0.0 (1.5) 1.5 Share - based payments (10.4) (6.9) (3.5) Exceptional items (5.8) (11.4) 5.6 Operating profit 87.3 42.4 44.9 Share of post - tax profit of JVs and associates 34.7 9.1 25.6 Other gains and losses 204.3 (4.2) 208.5 Net finance costs (15.8) (18.8) 3.0 Profit before tax 310.5 28.5 282.0 Taxation (25.0) (9.2) (15.8) Profit after tax 285.5 19.3 266.2 Non - cash impacts • £12.8m increase in net IAS 41 biological assets primarily driven by porcine (FY25: £13.3m decrease primarily due to bovine) Exceptional items • £5.8m expense (FY25: £11.4m expense); primarily from VAP restructuring costs Other gains and losses • £204.1m gain on deconsolidation of PIC China following formation of the JV with BCA Net finance costs • £15.8m expense (FY25: £18.8m expense) reflecting lower average borrowing (strong cash generation and lower lease debt) and lower average interest rates Taxation • Statutory tax rate of 11.2% (FY25: 36.7%) • Adjusted tax rate of 27.2% (FY25: 27.5%)
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Continued strong Free Cash Flow generation 15 11.7 62.0 40.9 11.1 10.0 (6.8) (15.3) 10.4 Free cash flow FY25 adj. EBITDA increase Increased JV dividends Performance related payments Other working capital mvmt Decreased exceptional items Lower taxes, interest, capex & bio assets Free cash flow FY26 Free cash flow 1 bridge Actual currency (£m) • Very strong Free Cash Flow generation of £62.0m • Significant adj. EBITDA increase of £11.1m and £10.0m higher JV dividends from Agroceres • Underlying negative working capital movement of £15.3m primarily due to strong improvement in bovine inventory and receivables in the prior year period • Lower exceptional cash payments • Free Cash Flow expected to be lower in FY27 due to the impact of PIC China joint venture formation, modest capex increase and £5.6m BCA milestone in FY26 1. See appendix for detailed cash flow. Free cash flow excludes £12.1m Withholding tax on PIC China 51% disposal as this is nett ed within disposal proceeds below free cash flow.
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Strong financial position – leverage reduced to 0.4x 16 (228.2) 109.5 (35.0) (12.5) (21.7) 97.7 16.4 6.0 (4.0) (71.8) Opening Net Debt 1 July 2025 Adjusted operating cash flow Interest, tax paid and other Exceptional items Dividends PIC China 51% disposal net of WHT and costs (4) Disposal of PIC China leases Other decrease in lease liabilities FX on debt held & debt issue costs Closing Net Debt 30 June 2026 Net debt bridge Actual currency (£m ) Free cash flow inc. lease repayments: £62.0 m Significant Net Debt reduction • Net debt decreased to £71.8m at 30 June 2026 • Leverage 1,2 reduced to 0.4x due to £62m FCF generation and £114m debt benefit from PIC China transaction (98m net cash and £16m lower lease debt) Improved Return on Adj. Invested Capital • ROIC 1 improved to 18.4% (FY25 15.0% 3 ) 10% growth in Full Year dividend • Proposed full year dividend of 35.2p reflects 32% payout of adj. EPS, in - line with stated 30 - 40% payout policy Net Debt: EBITDA 1,2 0.4x Net Debt: EBITDA 1,2 1.5x 1. 12 month rolling leverage and ROIC 2. Net Debt to EBITDA as defined under our debt facility agreement 3. FY25 restated from 14.7% ROIC to remove biological asset fair value uplifts in Joint Ventures 4. £97.7m PIC China net cash proceeds is made up of £111.0m June cash received net of withholding tax, - £8.9m cash retained within the Joint Venture, - £4.4m transaction costs
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FY26 Normalisation Actual currency (£m) 17 FY26 Normalisation PIC China impacts • Milestone receipt of £5.6m in FY26 (£3.7m in FY25) • PIC China deconsolidation; FY26 impact ~£4.7m • Potential net finance cost benefits from lower average net debt • Hedging gain, in relation to PIC China transaction, of £0.9m in FY26 PIC impacts • Non - recurring input cost benefit in H1 (£2.8m) and farm sale in H2 (£1.9m) FY27 considerations • ABS VAP Phase 3 run - rate benefits offset by higher bovine product development costs • Higher porcine product development and PRP spend • £60m share buyback programme FY26 £m Reported Less: PIC China Reported 49% of China Less: BCA Milestone Interest & Hedging Genus pro - forma Less: PIC One - Off Production Benefit Normalised Revenue 658.1 (30.1) - - - 628.0 - 628.0 Adj. OP ex - JVs 94.8 (9.8) - (5.6) (0.9) 78.5 (4.7) 73.8 Share of JVs Profit Before Tax 21.2 (2.4) 7.5 - - 26.3 - 26.3 Adj. OP inc - JVs 116.0 (12.2) 7.5 (5.6) (0.9) 104.8 (4.7) 100.1 Net Finance Costs (15.8) - - - 6.0 (9.8) - (9.8) Adj. Profit Before Tax 100.2 (12.2) 7.5 (5.6) 5.1 95.0 (4.7) 90.3 1. Milestone payment received from the Group’s Chinese partner, BCA, upon SASAC approval for the formation of the Group’s porcin e j oint venture in China
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Capital Allocation Framework FY26 Performance Capital Allocation Performance 18 Organic Growth Opportunities Maintain a strong balance sheet → target leverage range of 1.0x to 2.0x Invest in compelling organic profit growth opportunities that can deliver strong returns 1 Progressive 30 - 40% dividend payout funded by organic FCF generation M&A subject to strict financial and strategic criteria Distribute surplus capital to shareholders £ 73 m (11%) Ordinary Dividends 2 Inorganic Growth Opportunities 3 Surplus Capital Returns 4 FY26 dividend 32 % payout; 10 % growth 35.2 p Leverage at June 2026 0.4 x Continued monitoring ~ Share buyback expected t o b e c ompleted in FY27 £ 60 m R&D spend (% of group revenue)
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Strategic Progress Jorgen Kokke Chief Executive Officer
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Strategic Priorities: Continued focus and momentum 20 1. Continued growth in porcine, accelerated growth in China 3. Successfully commercialise PRP and deliver attractive returns from R&D 2. Drive greater value from bovine • PIC Global: good royalty revenue growth and strong adjusted operating profit growth • PIC China: successful formation of strategic porcine joint venture in China • PRP approvals and/or positive determinations secured in Argentina, Canada, Uruguay and Peru • Commercialisation process beginning in certain Latin American countries • VAP Phase 3 achieved £9m of annualised benefit • ABS is leaner, with a strong product portfolio and a deep pool of talent • Double - digit margin ambition in the medium term
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1: Compounding PIC royalty revenue 21 …with a proven revenue model that stabilises earnings and drives customer loyalty Compounding royalty revenue growth… Constant currency £m 4 year CAGR Incentivises more frequent genetic updates Fosters ongoing relationship with customer Aligns PIC and Customer Benefits/Value Independent of commodity prices Royalty Model Adjusted Royalty Revenue 2 £197m ( 4 yr CAGR + 6 % 3 ) 0 10 20 30 40 50 60 70 80 90 100 FY22 FY23 FY24 FY25 FY26 NAM LATAM EMEA Asia ex China JVs NAM +4 % LATAM +8 % JVs 1 +12 % EMEA +6 % Asia +12 % NB: Regions exclude Joint Ventures which are reported separately 1. 49% share of JV royalty revenue 2. Adjusted Royalty Revenue is a new APM which removes 100% of PIC China royalty revenue from reported revenue and adds back 49% of our JV royalty revenues 3. Constant currency 1
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1: Strong PIC China, Joint Venture formed Strong FY26 (despite declining pork prices) 100% entity; Constant Currency £m 22 Positive start to joint venture Positive, collaborative start to the JV relationship with BCA Continuing to win new royalty customers despite the continuing challenging environment for Chinese pork producers We estimate market share expansion from 3.4% (FY25) to 5.4% (FY26) 7 14 13 13 20 20 13 22 28 36 0 10 20 30 40 50 60 FY22 FY23 FY24 FY25 FY26 Royalty Revenue Non-Royalty Revenue
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2: Approvals / Favourable Determinations in Argentina, Canada, Uruguay and Peru 23 Approved/ favourable determination Approved In Process The review and approval of PRP for use in human consumption is through new regulatory processes. Timelines for these regulato ry processes are difficult to determine and may vary based upon additional regulatory questions raised under the review process or varying response times from regulators around the world Peru June 2026 Uruguay March 2026 Canada January 2026 Argentina July 2025 U.S.A. April 2025 Dominican Republic March 2025 Brazil April 2024 Colombia October 2023 Mexico Japan China Commercialisation process beginning in selected Latin American countries Key markets in process
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3: VAP completing; focus moving to commercial and operational excellence 24 VAP Phase 1 & 2: VAP Phase 3: Selective globalisation Product allocation & mix management Reshaping ABS go - to - market Improve service recovery Focus Areas Focus Areas Unified global leadership Pricing governance & value capture £21m Adj. Op. Profit Benefit Exceptional Cost £12.4m FY26 Adj. Op. Profit Benefit £7m Annualised Adj. Op. Profit Benefit FY26 Exceptional Cost £8.2m £9m
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3: ABS journey to medium term double digit operating margins 25 A leading global bovine genetics company • Deep global customer relationships • Aligned with global protein consumption trends • Experienced, talented team • Leading Dairy Genetics • Best – in - class Beef Genetics • One of only two players with commercial sexing technology • Significant investment in R&D • Market leading product sustainability ABS Global Revenue £300m Adj. Op. Profit 1 £22.9m Adj. Op. Margin 1 7.5% Drive top - line via Commercial Excellence ➢ Build a higher performing commercial organization ➢ Leverage through repeatable processes and systems ➢ Profitable volume growth Drive margin via Operational Excellence ➢ Sustainably expand gross margins ➢ Employ lean principles, continuous improvement and AI enabled process improvements to create a value stream lead organisation ➢ Increase customer value, systemic waste elimination, intelligent automation 1. Adjusted operating profit includes joint ventures. Adjusted operating margin excludes joint ventures Foundation set by VAP; Clear strategy for growth beyond FY27
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Summary & Outlook Jorgen Kokke Chief Executive Officer
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Resilient underlying profit growth despite cyclical weakness in key agricultural markets Group adj. PBT in constant currency to be in line with consensus expectations and moderately higher than normalised FY26 adj. PBT of £90.3m: Strong Free Cash Flow generation Summary & Outlook 27 Strong profit and cash generation Strategic porcine joint venture formed in China Further PRP regulatory milestones and commercialisation process beginning in certain Latin American countries FY27 Outlook £60m share buyback ➢ PIC: Moderate adj. operating profit growth from a normalised base ➢ ABS: Moderate adj. operating profit growth ➢ Group FY27 adj. PBT to be second half weighted
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44th Annual J.P. Morgan Why Invest In Genus 28 1: Porcine Reproductive and Respiratory Syndrome Growing and resilient end - markets 01 Increasing global demand for animal protein Significant white space 03 Significant addressable market growth through customers gaining market share, capturing more genetic benefit and increasing their use of data and technology Strong positions, leading products 02 World - class genetics, a well - invested, global supply chain and wrap - around holistic services Two Transformative growth opportunities 04 PIC China and the PRRS 1 Resistant Pig Defensible intellectual property 05 Elite germplasm, substantial proprietary data, patents in gene editing and reproductive biology
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Q&A 29
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Appendices 30
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Area FY26 FY27 Expected Impacts Adjusted Income Statement Items Net Interest £ 15.8m £9m - £11m Effective Tax Rate 27.2% 26% - 28% Foreign Exchange £3.5m tailwind £0m - £2m headwind based on current rates; see Appendix ABS VAP Phase 3 benefit to adjusted operating profit £7.0m £2m incremental from run - rate Actual/Estimated Exceptional Items £5.8m £5m - £7m Cash Flow Statement Items Depreciation & Amortisation £36.1m £35m - £37m Actual/Estimated Exceptional Items £ 12.5m £3m - £5m Biological assets £ 1.9m £(2m) – 2m Net Capital Expenditure £ 16.0m £24m - £26m Cash Conversion 94.4% 70% - 80% Technical Guidance 31
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Pro Forma: Milestones & PIC China Deconsolidation Actual currency (£m) 32 1. Milestone payment received from the Group’s Chinese partner, BCA, upon SASAC approval for the formation of the Group’s porcin e j oint venture in China FY26 H1 £m Reported Less: PIC China 49% of China JV & interest savings Less: Milestone (SASAC 1 ) Genus pro - forma Less: PIC One - Off Production Benefit Normalised Revenue 335.6 (25.3) - - 310.3 310.3 Adj. OP ex - JVs 55.7 (8.5) - (5.6) 41.6 (2.8) 38.8 Share of JVs Profit Before Tax 8.7 0.5 3.9 - 13.1 13.1 Adj. OP inc - JVs 64.4 (8.0) 3.9 (5.6) 54.7 (2.8) 51.9 Net Finance Costs (8.7) - 2.9 - (5.8) (5.8) Adj. Profit Before Tax 55.7 (8.0) 6.8 (5.6) 48.9 (2.8) 46.1
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Pro Forma: Milestones & PIC China Deconsolidation Actual currency (£m) 33 FY25 Full Year £m Reported Less: PIC China 49% of China JV & interest savings Less: Milestone (FDA 1 ) Genus pro - forma Revenue 672.8 ( 41.3 ) - - 631.5 Adj. OP ex - JVs 81.1 ( 9.0 ) - ( 3.7 ) 68.4 Share of JVs Profit Before Tax 12.0 0.6 4.2 - 16.8 Adj. OP inc - JVs 93.1 ( 8.4 ) 4.2 ( 3.7 ) 85.2 Net Finance Costs (18.8) - 6.4 - (12.4) Adj. Profit Before Tax 74.3 ( 8.4 ) 10.6 ( 3.7 ) 72.8 1. Milestone payment received from the Group’s Chinese partner, BCA, upon FDA approval of the PRP gene edit for use in the U.S. foo d supply chain
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Free Cash Flow 34 FY26 actual FY25 actual £m £m Adjusted operating profit inc. JV 116.0 93.1 Less: JV profit and non - controlling interests (21.2) (12.0) Depreciation and amortisation 36.1 38.7 Adjusted EBITDA 130.9 119.8 Cash received from joint ventures 16.1 6.1 Working capital (10.8) 11.3 Biological assets 1.9 1.3 Net capital expenditure (16.0) (18.2) Lease repayments (12.6) (14.1) Adjusted cash generated by operations 109.5 106.2 Cash conversion % 94.4% 114.1% Exceptional items (12.5) (24.2) Pension contributions, provisions & other (0.6) (1.6) Interest and tax paid (exc PIC China WHT) (34.4) (39.5) Free cash flow inc. lease repayments 62.0 40.9 PIC China 51% disposal net of WHT & costs 1 97.7 - Acquisitions, investments & net JV loans - (4.3) Dividends (21.7) (21.1) Net cash flow before non - lease debt repayments 138.0 15.5 Cash flow history (£m) - 0.6 45.9 55.1 106.2 109.5 - 24.7 9.1 - 3.2 40.9 62.0 - 1% 53% 71% 114% 94% -25% -5% 15% 35% 55% 75% 95% 115% -25 -5 15 35 55 75 95 115 FY22 FY23 FY24 FY25 FY26 Adjusted cash from operating activities Free cash flow Cash Conversion 1. £97.7m PIC China net cash proceeds is made up of £111.0m June cash received net of withholding tax, - £8.9m cash retained within the Joint Venture, - £4.4m transaction costs
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Exchange Rate Sensitivity 35 FY26 Average 1 FY26 Closing Spot at 07 Sept 2026 Profit Sensitivity £m 2 Euro 1.15 1.16 1.17 2.6 Brazilian Real 7.05 6.85 6.95 2.4 Mexican Peso 24.0 23.2 23.0 2.2 US Dollar 1.33 1.33 1.36 1.7 Chinese Yuan 9.38 9.00 9.09 1.2 Russian Rouble 104.2 104.3 116.5 1.1 Genus’s geographic profile can lead to translational currency impacts We monitor key rates against GBP Latest spot rates indicate a £0 - £2m negative profit impact for FY27 compared with average FY26 rates 1. Weighted average exchange rate based on profit before tax 2. 12 - month profit before tax impact given a +/ - 10% movement in exchange rate, based on FY26 results. FY27 sensitivity may differ based on current trading
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Return on Invested Capital 36 FY26 FY25 restated 1 £m £m Adjusted operating profit inc JV 116.0 93.1 Tax rate 27.2% 27.5% Adjusted operating profit after tax 84.4 67.5 Equity attributable to owners of the company 766.7 476.1 Add back: Net debt 71.8 228.2 Pension liability (net of asset) 4.4 6.9 Related deferred tax (1.1) (1.2) Deduct: Fair value uplifts; ➢ Biological assets (inc JVs) (237.7) (207.8) ➢ PIC China Joint Venture (90.6) - Biological assets deferred tax 48.0 49.2 Goodwill (103.4) (102.8) Adjusted invested capital 458.1 448.6 Return on adjusted invested capital 18.4% 15.0% 1. FY25 restated from 14.7% ROIC to remove biological asset fair value uplifts in Joint Ventures
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Sustainability 37 Porcine Genetic Improvement Index (US$) Genomic Bull Net Merit $ Index 3.73 3.74 4.39 4.15 4.08 FY22 FY23 FY24 FY25 FY26 The index measures the marginal improvement in customers’ US$ profitability, per commercial pig per year, on a rolling three - year average. ABS 588 ABS 653 ABS 716 ABS 788 ABS 863 FY21/FY22 FY22/FY23 FY23/FY24 FY24/FY25 FY25/FY26 The average Net Merit Dollar (NM$) index score of generally available Holstein commercial bulls launched to the market. Performance is reported on a two - year rolling basis, reflecting the typical commercial sales life of a bull. See the Group’s Annual Report for more details. 9.37 6.04 6.46 6.23 5.25 0 2 4 6 8 10 SY19 SY23 SY24 SY25** SY26 1 Animal Weight Intensity Ratio (tCO 2 e / animal weight (tonnes) NB: “SY” refers to the Sustainability Year End which is March 2026 1. Restated, see Annual Report for more details FY26 Milestones • Beef on Dairy Life Cycle Assessment: ABS NuEra Genetics reduce the overall environmental footprint of commercial beef on dairy programmes in the U.S. and U.K. by 4.5% to 8.8% • PRP Life Cycle Assessment: Eliminating PRRS could reduce green house gas emissions by approximately 5% in the U.S. • Continued strong genetic improvement across porcine, dairy and beef • Animal weight intensity ratio reduced by 16% compared to SY25
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Proportion of Total Porcine Volumes Under Royalty 38 North America EMEA Latin America Asia 97% 97% 97% 97% 97% FY22 FY23 FY24 FY25 FY26 79% 80% 78% 80% 79% FY22 FY23 FY24 FY25 FY26 84% 83% 77% 70% 66% FY22 FY23 FY24 FY25 FY26 57% 67% 71% 67% 60% FY22 FY23 FY24 FY25 FY26
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Glossary Artificial insemination (‘AI’) Using semen collected from a bull or boar to impregnate a cow or sow when in oestrus. Artificial insemination allows a genetically superior male to be used to mate with many more females than would be possible with natural mating. ASF African Swine Fever. Boar A male pig. CRISPR - Cas 9 Technology which accurately targets and cuts DNA to produce precise and controllable changes to the genome. CO2e measure used to compare the emissions from various GHGs based on their global - warming potential, by converting amounts of other gases to the equivalent amount of carbon dioxide with the same global warming potential. Farrow When a sow gives birth to piglets. FCR Feed conversion ratio. FDA The United States Food and Drug Administration. Gender skew The ability to influence the proportion of offspring being of a particular sex. Genetic gain The change of the genetic make up of a particular animal population in response to having selected parents that excelled genetically for important traits. Genetic lag The amount of time required to disseminate genetic gain from a nucleus herd to the commercial customer. Genetic nucleus A specialised pig herd, where Genus PIC keeps its pure lines. Pigs are genetically tested at the nucleus to select the best animals to produce the next generation. This is also referred to as an Elite Farm. Genomic bull A bull which has been assessed through genomic testing. This typically refers to bulls which have not been progeny - tested. Genomics The study of the genome, which is the DNA sequence of an animal’s chromosomes. GHG Gases that trap heat in the atmosphere are called greenhouse gases. Gilt A young female pig, which has not yet given birth. GGP/GP Great grandparent/grandparent. In vitro fertilisation (‘IVF’) The fertilisation of an oocyte (or egg) with semen (outside an animal) in a laboratory for transfer into a surrogate. Index/Indices A formula incorporating economically important traits for ranking the genetic potential of animals as parents of the next generation. IntelliGen The technology platform used to process sexed bovine semen for ABS and third - party customers and commercialised by ABS as Sexcel . Market pig equivalents (‘MPE’) Refers to a standardised measure of our customers’ production of slaughter animals that contain our genetics with genes from each of the sow and boar counting for half of the animal. Multiplier A producer whose farm contains grandparent sows. The farm crosses together two lines of grandparents, multiplying the number of genetically improved parents that are available for sale. NuEra The ABS beef breeding programme and index designed to drive the customer’s genetic improvement and deliver total system profitability for the beef supply chain. 39 PRP PRRS Resistant Pig. PRRSv Porcine Reproductive and Respiratory Syndrome Virus. PSY Pigs per Sow per Year. The average number of pigs weaned per litter multiplied by the average number of litters farrowed per sow per year. Scope 1 emissions are emissions that result from directly burning fuels or emissions of GHG from sources owned or controlled by Genus. Scope 2 emissions are in - direct emissions associated with the use or generation of energy in the form of electricity. Sexcel The ABS brand of sexed bovine genetics produced using IntelliGen. Sire The male parent of an animal. Sire line The male line selected for traits desirable for the market. Sow A female pig which has given birth at least once. Straw A narrow tube used to package frozen bull semen. Terminal boars The male pig that is used to mate with a parent female to produce a terminal pig. Trait A measurable characteristic that may be a target for genetic selection. Unit A straw of frozen bull semen or tube/bag of fresh boar semen sold to a customer.