Reimbursement credits due under the CARES Act

Reimbursement credits due under the CARES Act


2 November 2022
ArborGen Holdings Limited (NZX: ARB) announces today that its wholly owned subsidiary in the US,
ArborGen Inc., has completed extensive analysis confirming it should be entitled it to receive US$2
million of Employee Retention Credits under the Coronavirus Aid Relief and Economic Security
(CARES) Act. Under the CARES Act, businesses can apply for a credit of the payroll taxes paid on
wages between March 2020 and September 2021 for wages not forgiven under the CARES Act
Paycheck Protection Program (PPP). While as a next step, ArborGen Inc. will need to file amended
quarterly payroll tax forms with the Internal Revenue Service (IRS) to notify the IRS of the credit due
to the Company, there is a high probability that the Company will receive the reimbursements
approximating US$2 million.



ArborGen
ArborGen is the largest commercial global seedling supplier and a leading provider of advanced genetics, for the forest
industry. Employing state-of-the-art technology, ArborGen is developing high-value products that significantly improve the
productivity of a given acre of land by enabling our customers to grow trees that yield more wood per acre with greater
consistency and quality in a shorter period of time. For more information, please visit ArborGen’s website at
www.arborgen.com.











To: NZX From: Sharon Ludher-Chandra

Further information on ArborGen Holdings Limited can be viewed at our web site http://www.arborgenholdings.com.