Marel — Major Shareholding Notification 2022

Mar 7, 2022

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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 $^{\mathrm{ii}}$: The Pension Fund for State Employees, ID number: 711297-3919

4. Full name of shareholder(s) (if different from the person mentioned in point 3.) $^{\mathrm{iii}}$: The Pension Fund for State Employees A-division, ID number: 550197-3409, The Pension Fund for State Employees B-division, ID number: 430269-6669, The Pension Fund for State Employees Division S-division, ID number: 421198-2259.

5. Date of the transaction and date on which the threshold is crossed or reached $^{\mathrm{iv}}$: March 7th 2022

6. Threshold(s) that is/are crossed or reached: Exceeds 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 $^{\mathrm{vi}}$
	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
IS0000000388	37.850.000	37.850.000			38.850.000		5,04%
SUBTOTAL A (based on aggregate voting rights)	37.850.000	37.850.000	0	38.850.000		5,04%

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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

2. In case of proxy voting:

3. Additional information:

After trading in the shares of Marel hf. individual divisions of The Pension Fund for State Employees own following:

The Pension Fund for State Employees A-division, ID number: 550197-3409, 31.468.500 shares and 4,08% voting rights.

The Pension Fund for State Employees B-division, ID number: 430269-6669, 6.858.390 shares and 0,89% voting rights.

The Pension Fund for State Employees Division S-division, ID number: 421198-2259, 523.110 shares and 0,08% voting rights.

Reykjavik, March 7th 2022

The Pension Fund for State Employees & The Pension Fund for Nurses