Marel — Major Shareholding Notification 2019

Sep 13, 2019

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 attached i: Marel hf., id.no. 620483-0369, Austurhraun 9, 210 Garðabær, Iceland.

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 ii: Gildi-lifeyrissjóður, id.no. 561195-2779.

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

5. Date of the transaction and date on which the threshold is crossed or reached iv: 12 September 2019.

6. Threshold(s) that is/are crossed or reached: Under 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 vi
	Number of Shares	Number of Voting rights vii	Number of shares	Number of voting rights viii		% of voting rights
			Direct	Direct ix	Indirect x	Direct	Indirect
	38,590,474	38,590,474	38,540,474	38,540,474		4.99%
SUBTOTAL A (based on aggregate voting rights)	38,590,474	38,590,474	38,540,474	38,540,474		4.99%

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FJÁRMÁLAEFTIRLITIÐ

THE FINANCIAL SUPERVISORY AUTHORITY, ICELAND

B) Financial Instruments
Resulting situation after the triggering transactionxi
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)
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: N/A
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:

This major holding notification is issued as a result of sales made by the investment plans Framtíðarsýn 1 and Framtíðarsýn 2 operated by Gildi. The holdings of individual investment plans and the pension fund itself is as follows after he transaction:

Gildi-lifeyrissjóður, id.no. 561195-2779: 38,443,561 or 4.986%

Framtíðarsýn 1, id.no. 580299-6289: 57,154 or 0.007%

Framtíðarsýn 2, id.no. 580299-6369: 39,759 or 0.005%

Reykjavík, 13 September 2019.

Gildi-lifeyrissjóður