Update on Proposed Acquisition Strategy

• Company will not proceed with previously contemplated acquisition
• Board determined discontinuing discussions is in best interests of shareholders
• Company focusing on alternative opportunities aligned with relisting strategy

Genetic Technologies Limited (ASX: GTG) has announced that it will no longer be proceeding with the previously contemplated acquisition of Ellerfield Wealth and Walker Capital Private Wealth, now known as Ellerfield Private Wealth. Following a further strategic review, the Board has determined that it is in the best interests of shareholders to discontinue discussions in relation to this transaction and instead focus on alternative opportunities aligned with the Company's proposed relisting strategy. The Company is currently considering a number of potential transactions and will update the market as these opportunities advance.