Marel — Capital/Financing Update 2023

Jul 17, 2023

Press Release 17 July 2023 20:45:00 GMT

marel

Marel: Extension to EUR 700 million financing secured and a new EUR 150 million term loan signed

• A two-year extension to the EUR 700 million sustainability-linked revolving credit facility, with maturity in February 2027
• A new EUR 150 million term loan maturing in November 2025, with two one-year extension options subject to lenders approval

Marel has signed a two-year extension to its EUR 700 million sustainability-linked revolving credit facility. The term for the credit facility was for five years maturing in 2025, with two one-year extension options. These options have now been utilized, extending the credit facility by two years with final maturity in February 2027.

In addition, Marel has signed a new EUR 150 million term loan with same margins and maturity as the USD 300 million term loan previously announced in November 2022. The maturity of the new term loan is November 2025, with two one-year extension options, subject to lenders approval.

The new term loan is signed with Marel's long standing partners: ABN AMRO, BNP Paribas, Danske Bank, HSBC, ING, and Rabobank. The banking group mirrors Marel's geographical presence and is thus well placed to support Marel's business going forward.

Stacey Katz, CFO of Marel:

"We strongly value the partnership with our long-standing banking group and their trust in Marel's business model, quality of earnings and growth ambition. The new term loan of EUR 150 million, together with the longer maturity profile of the revolving facility, will provide increased operational and strategic flexibility in the current financial environment."

Investor Relations

For further information, please contact Marel Investor Relations via email ir@marel.com or tel. +354 563 8001.

About Marel

Marel (NASDAQ: MAREL; AEX: MAREL) is a leading global provider of advanced food processing equipment, systems, software, and services to the poultry, meat and fish industries. In line with its 2017- 2026 growth strategy, Marel has gradually expanded its business model into adjacent industries, where most recently the acquisition of Wenger has added a fourth pillar focused on pet food, plant-based protein and aqua feed. Our united team of around 8,000 employees in over 6 continents delivered EUR 1.7 billion in revenues in 2022. Annually, Marel invests around 6% of revenues in innovation. By continuously transforming food processing, we enable our customers to increase yield and throughput, ensure food safety and improve sustainability in food production. Marel was listed on NASDAQ Iceland in 1992 and dual-listed on Euronext Amsterdam in June 2019. For further information, please visit marel.com/ir.

Marel

Austurhraun 9

IS-210 Gardabaer

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Press Release
17 July 2023 20:45:00 GMT
marel

Attachments

Marel: Extension to EUR 700 million financing secured and a new EUR 150 million term loan signed

Marel | Austurhraun 9 | IS-210 Gardabaer