Illumina completes spin-off of GRAIL, retains 14.5% stake; GRAIL to trade as GRAL

ILLUMINA, INC.

Spin-off effective June 24, 2024: Illumina distributed 85.5% of GRAIL shares (1 share GRAIL per 6 shares ILMN), retains 14.5%.
GRAIL begins regular-way trading on Nasdaq as 'GRAL' on June 25, 2024.
Illumina drew $750M term loan at ~6.70% on June 20 to fund GRAIL's cash balance in connection with divestment.
Illumina to report Q2 2024 earnings on August 6 and host Strategy Update on August 13.
No gain/loss recognized for U.S. shareholders on distribution except for cash in lieu of fractional shares.

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