Marel Growth Strategy and Wenger Acquisition

Balanced business model and global presence High recurring revenue with over 40% of total revenue from aftermarket marel Attractive end markets • Over 60% of revenue derived from pet food where the company has a global market leading position Food & other 22% - Recognized for quality products and process know-how with the Wenger name synonymous with pet food extrusion • The company is a respected name in additional niche markets including aqua feed and plant-based proteins Aqua feed 12% 66% High recurring revenue >>> • Diversified customer base >>>> • Growing installed base drives increased aftermarket levels, now around 45% of total revenue Stable, high-margin revenue stream Opportunities in a more proactive aftermarket approach and added capacity to further penetrate the installed base - This could drive the aftermarket level even higher Strong foothold in the North American market, with around 45% of total revenue Opportunities in expanding global reach even further with a wider sales and service network Wenger can leverage Marel's global reach to improve customer coverage and engagement % of revenue '19-'21 Pet food % of revenue '19-'21 Aftermarket 44% 56% Equipment Americas 12% 57% 31% % of revenue '19-'21 Asia and Oceania Europe, Middle East and Africa 13

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