Marel — M&A Activity 2024

Aug 8, 2024

Press Release 08 August 2024 20:30:00 GMT

marel

Marel: JBT Shareholders approve combination with Marel

Marel has been informed that the special meeting of the shareholders of John Bean Technologies Corporation ("JBT"), which was held virtually earlier today in relation to the voluntary takeover offer for all outstanding shares in Marel hf., voted to approve the issuance of shares of JBT common stock in connection with JBT's pending combination with Marel hf. Further information on the shareholders' meeting and its decisions can be found in JBT's announcement, accessible here.

JBT and Marel continue to make progress on the other requirements to close the transaction. Regarding regulatory workstreams, JBT and Marel have submitted filing materials in all relevant jurisdictions and are now engaging with regulators in pursuit of all requisite approvals to complete the combination. The voluntary takeover offer to acquire all issued and outstanding shares of Marel will expire on September 2, 2024, unless such offer period is extended in accordance with the terms of the definitive agreement between JBT and Marel. JBT is also actively working on the secondary listing application for Nasdaq Iceland. JBT continues to plan for a transaction close by year end 2024.

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 food processing industry. Established in 1983, we have around 7,300 employees and a presence in more than 30 countries, servicing customer accounts in over 140 countries. We are listed on Nasdaq Iceland and Euronext Amsterdam, and in 2023 we delivered EUR 1.7 billion in revenues, with 46% coming from recurring aftermarket services and software. We invest 5-6% of revenues in innovation every year, setting new benchmarks in processing poultry, meat, fish as well as pet food, aqua feed and plant protein. Utilizing cutting edge technologies such as robotics, data-driven solutions, automation and software, we empower our customers to increase yield, ensure food safety, improve sustainability and ultimately create value for their businesses. For further information, please visit marel.com/ir.

Attachments

Marel: JBT Shareholders approve combination with Marel

Marel

Austurhraun 9

IS-210 Gardabaer