Genus acquires UCG Holdings

• GenusPlus to acquire 100% of UCG Holdings for NZ$38.25m upfront
• UCG is a leading telecommunications service provider in NZ and Pacific Islands
• Acquisition expected to be immediately earnings accretive

GenusPlus Group Limited (ASX: GNP) has announced the acquisition of 100% of Universal Communications Group Holdings Limited (UCG), a leading New Zealand-based telecommunications construction and maintenance service provider. The acquisition includes an upfront cash consideration of approximately NZ$38.25 million, deferred cash consideration of NZ$1.75 million, and contingent earn-out cash payments of up to NZ$25 million based on FY27 and FY28 adjusted EBIT performance. UCG, founded in 2013, has a 10+ year relationship with Chorus, New Zealand's largest telecommunications infrastructure company, and holds a long-term contract to deliver maintenance, build, and provisioning works in the upper North Island, including Greater Auckland. The acquisition is expected to be immediately earnings accretive for GenusPlus and is anticipated to be completed by the end of October 2026.

FY27 and FY28 adjusted EBIT performance will determine earn-out cash payments

GenusPlus expects the acquisition to immediately add scale and capability to its telecommunications offering, providing a platform for further growth in New Zealand.