TOMRA Systems — M&A Activity 2018

Feb 26, 2018

TOMRA Acquires Food Sorting Machine Producer BBC Technologies for NZD 66.9m

TOMRA Acquires Food Sorting Machine Producer BBC Technologies for NZD 66.9m

TOMRA Systems ASA (TOMRA), through its fully owned subsidiary TOMRA Sorting AS,

has on 26.02.2018 signed an agreement with the owners of BBC Technologies Ltd

and BBC Technologies (USA) Limited (BBC Technologies) to acquire 100 per cent of

the shares in BBC Technologies.

Further Expansion within the Global Food Sorting Segment

BBC Technologies is headquartered in Hamilton, New Zealand and is a leading

provider of precision grading systems for blueberries and other small fruits.

The company complements TOMRA's own fruit inspection and grading technology

portfolio. It also adds an innovative unique quality tracking system:

www.freshtracker.com, which TOMRA see large value in offering to more customers

alongside its other advanced developments in digital data solutions. The

majority of BBC Technologies sales have been from the blueberry segment, but the

company also offers solutions for cherries, cherry tomatoes and other small soft

fruits.

"We admire the work done by the BBC team in developing leading technologies,

market position and their long-term commitment to customers. We are fully

committed to continue supporting this strategy jointly with BBC's leadership

team and working together to find new ways to further enhance local presence,

aftersales support and technology development. We trust that TOMRA can

contribute to the continued success of BBC and its customers", says Stefan

Ranstrand, TOMRA's President and CEO

BBC Technologies' origins go back to 2000, currently employing around 145 people

across locations in New Zealand, Chile, Europe and USA. About 2,350 BBC

Technologies machines have been sold worldwide. With year-end in December the

company generated a 2017 EBITDA of approximately NZD 10m on total revenue of

approximately NZD 36m.

"Joining TOMRA provides BBC Technologies and our customers the perfect platform

to further enhance our technology and service offerings in all corners of the

globe. As a company built by growers for growers, we respect TOMRA's global

market leadership which has been achieved through continuous innovation and

partnership with their customers, consistent with the principles that have

fuelled our own growth at BBC Technologies", says Head of BBC Technologies Geoff

Furniss.

Transaction details

TOMRA will pay a consideration corresponding to a value of NZD 66.9m, free of

cash and interest-bearing debt. TOMRA will pay the purchase price in cash, and

the transaction will be financed through existing drawing rights.

Closing of the transaction is expected to take place end of February 2018.

For questions please contact:

CFO/Deputy Espen Gundersen  +47 66 79 92 41 / +47 97 68 73 01

CEO

VP Investor Elisabet V. Sandnes  +47 66 79 92 42 / +47 97 55 79 15

Relations/M&A

TOMRA was founded on an innovation in 1972 that began with design, manufacturing

and sale of reverse vending machines (RVMs) for automated collection of used

beverage containers. Today, TOMRA has ~95,700 installations in over 80 markets

worldwide and had total revenues of ~7.4 billion NOK in 2017. The Group employs

~3,420 globally, and is publicly listed on the Oslo Stock Exchange. (OSE:

TOM). The TOMRA Group continues to innovate and provide cutting-edge solutions

for optimal resource productivity within two main business areas: Collection

Solutions (reverse vending and material recovery) and Sorting Solutions

(recycling, mining and food sorting). For further information about TOMRA,

please see www.tomra.com