Marel

Results of the AGM 17 March 2021

Marel’s Annual General Meeting was a virtual meeting held on 17 March 2021 at 16:00 GMT. All proposals of the Board of Directors to the meeting were approved. The proposals and other relevant material are accessible on the AGM website: marel.com/agm. Further information on votes cast at the meeting are attached.

Chairman of the Board Asthildur Otharsdottir addressed the meeting on behalf of the Board. CEO Arni Oddur Thordarson reported the Company’s 2020 consolidated financial statements and gave an overview of the Company’s business activities.

From Chairman Asthildur Otharsdottir’s statement:

“We all know 2020 has been a year like no other. The Board of Directors is rightly proud of the way the Marel team, all over the world, has handled these extraordinary circumstances, recognising our critical role in the food value chain. The progress made during the year is testament to Marel‘s clear purpose, our values and resilient business model.

One of the greatest challenges of our time is to deliver sustainable, healthy food to the fast-growing population, within the limits of our planet. Limiting the impact of climate change will require major shifts in how we farm our land, process our food, what we eat and how much we waste. Innovation aimed at minimising waste and environmental impact of food processing, while maximising quality, remains Marel’s most important contribution to global sustainability.

We see demand growth driven by the rising need for automation, structural changes in consumer behaviour, an increasingly demand-driven food value chain and growing focus on sustainable processing. Marel’s global reach and superior technological capabilities give us a great advantage. Our significant investments in the business and infrastructure in the past years have uniquely positioned us to capture the many opportunities ahead.

We made important progress on our ESG journey in 2020, including our commitment to the Science-Based targets Initiative, incorporating ESG targets in our short-term incentive programs and achieving gender balance in Marel’s Executive Team.

It has been a privilege and a pleasure to serve the shareholders of Marel, to take part in its achievements and witness the many milestones reached in the past years.”

From CEO Arni Oddur Thordarson’s report:

“I would like to take this opportunity and thank team Marel, our customers, suppliers and partners, for all their commitment and dedication to ensure that one of the most important value chains in the world remains operational. I also want to extend my deepest thanks to Asthildur, our Chairman of the Board now stepping down, for her strategic direction and excellent cooperation for the past 11 years.