Illumina, Inc. agreed to Spin-Off 85.5% stake in GRAIL, LLC. on December 11, 2023. Illumina, Inc. entered into separation and distribution agreement to Spin-Off 85.5% stake in GRAIL, LLC. on June 21, 2023 Prior to the completion of the spin-off, GRAIL will be converted into a Delaware corporation and will be renamed GRAIL, Inc. To effect the spin-off, Illumina, Inc., or ?Illumina,? will distribute at least 85.5% of the shares of GRAIL?s common stock owned by Illumina as of the record date for the distribution, on a pro rata basis to the holders of Illumina common stock. Immediately after the distribution becomes effective, Illumina may retain up to 14.5% of GRAIL?s common stock. As of June 3, 2024, Illumina disclosed that its board of directors has approved the separation of GRAIL. Holders of Illumina common stock will be entitled to receive one share of GRAIL common stock for every six shares of Illumina common stock held at the close of business on June 13, 2024, the record date for the Distribution. Computershare Trust Company, National Association acted as a transfer agent to Illumina, Inc. Centerview Partners LLC acted as financial advisor to Illumina.

Illumina, Inc. completed the Spin-Off of 85.5% stake in GRAIL, LLC. on June 24, 2024. Cravath, Swaine & Moore LLP acted as legal advisor to Illumina, Inc. and Latham & Watkins LLP acted as legal advisor to GRAIL, LLC.