Marel — Major Shareholding Notification 2015

Feb 5, 2015

FJÁRMÁLAEFTIRLITIĐ
ÚSTUM FÍSICIUM O PERSODIAMe AI FÍSICIULI E O LÚTIM

STANDARD FORM – NOTIFICATION OF THE ACQUISITION OR DISPOSAL OF MAJOR PROPORTIONS OF VOTING RIGHTS

VOTING RIGHTS ATTACHED TO SHARES— ARTICLE 85 OF THE ACT ON SECURITIES TRANSACTIONS NO. 108/2007

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached $^{\mathrm{i}}$: MARL / Marel hf.

2. Reason for the notification (please tick the appropriate box or boxes):
   ☑ an acquisition or disposal of voting rights
   ☐ an acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
   ☐ an event changing the breakdown of voting rights

3. Full name of person(s) subject to the notification obligation $^{\mathrm{ii}}$: Gildi Pension Fund, id: 561195-2779

4. Full name of shareholder(s) (if different from the person mentioned in point 3.) $^{\mathrm{iii}}$:

5. Date of the transaction and date on which the threshold is crossed or reached $^{\mathrm{iv}}$: February 4th 2015

6. Threshold(s) that is/are crossed or reached: Over 5%

7. Notified details:

A) Voting rights attached to shares
Class/type of shares (if possible using the ISIN CODE)	Situation previous to the Triggering transaction		Resulting situation after the triggering transaction $^{\mathrm{v}}$
	Number of Shares	Number of Voting rights $^{\mathrm{vii}}$	Number of shares	Number of voting rights $^{\mathrm{viii}}$		% of voting rights
			Direct	Direct $^{\mathrm{ix}}$	Indirect $^{\mathrm{x}}$	Direct	Indirect
MARL/ Marel hf / IS0000000388	35.744.557	35.744.577	45.744.557	45.744.557		6,22%
SUBTOTAL A (based on aggregate voting rights)	35.744.557	35.744.557	45.744.557	45.744.557		6,22%

DR

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FJÁRMÁLAEFTIRLITIÐ

1. TÁLLALÁNYI ALAPÉRÁTÁSZÁG ALTAÁRTALÁSZ ALAPÁS

B) Financial Instruments
Resulting situation after the triggering transaction^{a1}
Type of financial instrument	Expiration Date^{xii}	Exercise/Conversion Period/ Date^{xiii}	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
		SUBTOTAL B (in relation to all expiration dates)	45.744.557	6,22%
Total (A+B) [if applicable]	number of voting rights	% of voting rights
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1. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable $^{xiv}$:

2. In case of proxy voting: [name of the proxy holder] will cease to hold [number] voting rights as of [date].

3. Additional information: Done at [place] on [date].

Reykjavik, February 5th 2015

GILDI - lifeyrissjóður

D. R. Diffe

Gildi - lifeyrissjóður