Marel Growth Strategy and Wenger Acquisition

True innovation pioneer with a global customer base Premium position in the market has resulted in a long history of growth and healthy profitability marel • Product examples Wenger has an extensive product offering in extrusion technology for pet food, plant-based proteins and aqua feed, comprised of single-, twin-, and thermal-screw extrusion technology as well as dryers and power heaters Diversified and loyal customer base ranging from blue-chip pet food processors to startup companies in plant-based proteins Committed to innovation and long-standing partnership with customers, having recently completed a major upgrade to the Wenger Technical Center, a full-service demo center in Sabetha Revenues estimated at USD 190 million in 2022 and EBITDA of USD 32-35 million, and EBIT margin 14-15% - Approx. 5% annual organic growth in revenues from 2017-2021 Strong cash flow and return on invested capital around 20% Opportunity for the combined business to accelerate growth - - - Expand manufacturing capacity to respond to high demand in Wenger's core markets Proactive approach to aftermarket to better service customers around the world Utilize the global reach and digital platform of Marel Optima Single Screw Extruder Thermal Twin Extruder I Power Heater 100 I I I MARS I Petcare Preconditioner Customer example woriwa 우리와 Diamond UNITED PETFOOD Caribbean TUFFYS treat company TTyson Food Manufacturing S.A. Vafo BIG☹ HEART PET BRANDS... ย ADM 12

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