Benchmark Holdings plc 
("Benchmark", the "Company" or the "Group")

Q3 Results 
(Three months and nine months ended 30 June 2024)

Solid performance in Genetics and Advanced Nutrition amidst continuing soft
shrimp markets
Completed steps to streamline Health and transition Ectosan® Vet and CleanTreat®
business model   

In compliance with the terms of the Company's unsecured Green bond, which
requires it to publish quarterly financial information, Benchmark, the
aquaculture biotechnology business, announces its unaudited results for the
three months ended 30 June 2024 (the "Period" or "Q3 FY24"), which constitutes
the third quarter for the fiscal year ("FY") 2024, and its year to date
unaudited results for the nine months ended 30 June 2024 ("Q3 YTD FY24"). All Q3
FY24, Q3 FY23, Q3 YTD FY24 and Q3 YTD FY23 figures quoted in this announcement
are based on unaudited accounts.

Financial highlights 

Q3 FY24 

o	Group revenues of £30.7m were 10% below prior year (-7% at constant exchange
rate "CER") driven by:   
o	Advanced Nutrition: good trading with 4% increase against the prior year (+11%
CER) despite continuing softness in the shrimp market 
o	Genetics: solid trading albeit revenues were 18% (17% CER) below Q3 FY23
reflecting a shift from direct egg sales to indirect sales through Salmar
Genetics, the Group's JV in Norway, as well as a timing difference in harvest
income compared to last year
o	Health: revenues were 43% below last year (-41% CER) reflecting the
decommissioning of the two CleanTreat® units as part of the planned transition
to a new business model for Ectosan® Vet and CleanTreat®
o	15% increase in Adjusted EBITDA excluding fair value ("FV") movement of
biological assets (+19% CER) driven by: 
o	Progress across all Genetics growth vectors including Chile, shrimp and
genetic services
o	Higher contribution from the Group's JV in Norway, and  
o	Positive impact of streamlined organisation and infrastructure in Health
o	Adjusted EBITDA margin excluding FV movement of biological assets was 15% (Q3
FY23: 12%) resulting from 28% margin in Genetics (Q3 FY23: 16%), 11% margin in
Advanced Nutrition (Q3 FY23: 21%) and breakeven in Health (Q3 FY23: -27%)
o	Operating Loss was £6.5m (Q3 FY23: £4.0m loss)
o	Ample liquidity and headroom
o	Cash of £17.0m and liquidity of £34.2m (cash and available facility) as of 30
June 2024
o	Net debt (excluding lease liabilities) £63.9m as at 30 June 2024 (31 March
2024: £56.8m