Rubicon Research Limited has announced the incorporation of its wholly owned subsidiary, 'AdvaGen S A Company', in the Kingdom of Saudi Arabia. The incorporation was effective from January 13, 2026.

AdvaGen S A Company will be involved in dealing with pharmaceutical products. Rubicon Research Limited will hold a 100% stake in this new entity, with an initial investment of SAR 1,00,000 (comprising 100 equity shares of SAR 1,000 each). The consideration for this subscription will be disbursed in cash.

This strategic move marks an expansion for Rubicon Research into the Saudi Arabian market, focusing on the pharmaceutical sector. Further details regarding the incorporation and the subsidiary's business are provided in Annexure A of the disclosure.