• The record date will be 5 p.m. Burlington, North Carolina time on Tuesday, June 20, 2023, and
• The distribution date will be 11:59 p.m. Burlington, North Carolina time on Friday, June 30, 2023.

Fortrea will hold Labcorp's Clinical Development and Commercialization Services business. The spin-off is expected to be effected through the distribution of 100 percent of the common stock of Fortrea to holders of Labcorp's common stock whereby Labcorp's stockholders will receive one share of Fortrea common stock for every share of Labcorp common stock they hold as of the record date.

Furthermore, the U.S. Securities and Exchange Commission ("SEC") declared Fortrea's Registration Statement on Form 10 effective today and NASDAQ approved the listing of Fortrea's common stock on the NASDAQ Stock Market under the symbol "FTRE."

The Registration Statement on Form 10 includes information regarding Fortrea's business and the spin-off of Fortrea from Labcorp.

The completion of the spin-off remains subject to customary closing conditions.