Marel — Major Shareholding Notification 2018

Nov 30, 2018

FJÁRMÁLAEFTIRLITIĐ
THE FINANCIAL SUPERVISORY AUTHORITY, ICELAND

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 attached¹: MARL

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 obligationⁱⁱ: Marel hf.

4. Full name of shareholder(s) (if different from the person mentioned in point 3.)ⁱⁱⁱ:

5. Date of the transaction and date on which the threshold is crossed or reachedⁱˣ:

28 November 2018

1. Threshold(s) that is/are crossed or reached:

Below 5%

1. Notified details: Marel’s extraordinary shareholders’ meeting held on 22 November 2018 decided to reduce the share capital of the company by way of cancelling a part of the company’s own shares. The reduction took place on 28 November 2018.

Marel’s own shares amounted to 59,673,626 or 8.1% of total issued share capital in the company before the reduction, and after the reduction the company’s own shares amount to 6,690,550 or 0.98% of issued share capital in the company.

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FJÁRMÁLAEFTIRLITIÐ

THE FINANCIAL SUPERVISORY AUTHORITY, ICELAND

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 a)
	Number of Shares	Number of Voting rights a)	Number of shares	Number of voting rights a)		% of voting rights
			Direct	Direct b)	Indirect c)	Direct	Indirect
IS0000000388	59,673,626	59,673,626	6,690,550	6,690,550
SUBTOTAL A
(based on aggregate
voting rights)
---	---	---	---	---	---

B) Financial Instruments

Resulting situation after the triggering transaction a)

Type of financial instrument	Expiration Date a)	Exercise/Conversion Period/ Date a)	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)
Total (A+B) [if applicable]	number of voting rights	% of voting rights
---	---	---

1. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable a)v:

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

3. Additional information: No voting rights are attached to own shares of the company.

Gardabaer, 30 November 2018

On behalf of Marel hf.

Arni Sigurjonsson, General Counsel